What pricing technique will you use

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Reference no: EM131523865


This section should be completed AFTER the business plan is finished. It is a ONE PAGE SUMMARY.


The Introduction is the readers' first impression of the business and should cover the following areas briefly but informatively
- the business name
- the business structure
- key personnel and their relevant experience
- description of the product and/or service
- its current market position and the potential for growth
- the business' objectives both in the short and long terms
- the reason the business will be successful
- financial projections
- funds sought and usage.


1.1 Environmental analysis
- A discussion about the industry you are entering, in an historical and a geographical sense.
- A look at changes, advancements and trends over the last 10 - 15 years,
and the current situation at an international, national, state and local level.
- Identify where your particular business fits into the industry and why there is an opportunity for your business.

1.2 Product(s)/service(s)
- A full description of the range of products sold and/or services offered, emphasising differences, improvements, innovations etc. compared to other products/service on the market

1.3 Customer demographics
- Indicate who your customers will be in each segment, their age, sex, West*, interests, geographic location.
- How many are there in the areas you are going to service?

1.4 Competition and competitive advantage
- List three of your major competitors.
- Make a realistic assessment of their strengths and weaknesses.
- How will you address their strengths and capitalise on their weaknesses?
- What position do they have in the market? (E.g. quality, price, service).
- What is your competitive advantage?

1.5 Price strategy
What pricing technique will you use? Explain why. ‘Arinat are your prices? Include a list of prices.

1.6 Advertising and promotional strategy
- List the methods you will use and the cost of bringing your product/service to the attention of prospective customers, e.g. in which publication will you advertise.
- Will you use direct marketing campaigns, if appropriate.
- What promotional literature will you be developing, i.e. flyers, etc.
- Mat other promotional tools will you use?

1.7 S.W.OT. analysis
- A grid identifying your Strengths, Weaknesses, Opportunities and Threats.
- Include a discussion of how you will take advantage of the strengths and opportunities and what action you will take to counter the weaknesses and threats.

1.8 Market research
- Details of the results of your market research produced from primary and secondary resources.
- Include details of any surveys/questionnaires used.
- Include tables and charts as appropriate.

1.9 Market targets
- How many products (or hours of service) are you going to sell. The targets need to be realistic, achievable and sufficient to make a profit
- Present them in a table showing your targets for the first 12 months of operation.
- Make allowance for seasonal factors and the time required to go from a new business to full operation.


2.1 Business structure
- Indicate whether the business will be a sole trader, partnership, company or trust structure.
- Why has this structure been selected?
- What are the advantages of this structure for your situation?
- What business name are you going to use?
- Has the business name been registered?
- Will the business require an Australian Business Number (ABN)?
- If so, include a copy of the certificate as an appendix.

2.2 Scope of operation
- How big is your business? This can be measured by:
- how many employees you have the expected level of turnover the areas you are going to service (local, all of Northern Territory, Australia, international).

2.3 Regulatory issues
- Discuss any local, state or commonwealth government regulatory requirements that will be required by your business (e.g. Council approval, health and safety permit, etc).
- If applicable, indicate any patents or other proprietary features of the product or service.
- Is the business required to register for Goods and Services Tax (GST)?
- For further information on regulatory requirements for setting up a business contact Business Point on 1300 440 026.

2.4 Insurance
- Provide an estimate of applicable insurance requirements for your business.
Quotations from an insurance company can be included as an appendix.
NB: Workers' compensation Insurance is compulsory if you employ staff.
NB: A householders insurance policy will not cover business assets, unless specifically indicated as an addition to the policy!

2.5 Business premises
- Provide lease/rental details - landlord/agent, setup costs, bond, rent outgoings.
- Preferred location of the business (consider several in case the first option is not available.
- Provide a sketch indicating the layout of the premises (include maps where relevant).
- Provide a description of the facilities required to operate the business, i.e. three phase power, etc.
- Also include the expected running and maintenance costs.
- If applicable, provide details of security, power, water.

2.6 Location
- Where are the premises?
- Why have you chosen this particular (geographic) location?

2.7 Production arrangements
- How will the product/service be produced?
- Including a monthly activity schedule.
- If applicable, describe the process involved in producing your product (including any sub-contractors and/or suppliers of raw materials.
- If relevant, discuss any waste disposal. What type of waste is involved, how do you plan to dispose of it and at what cost? (Compliance with government regulations regarding waste disposal should be investigated).

2.8 Distribution (place) arrangements
- How will the product/service be distributed?
- Describe the facilities required to sell and distribute your product/service (e.g. will you sell it yourself or will you use agents or distributors).
- If relevant, discuss any margin to be given to sales representatives, retailers, distributors or wholesalers and identify any royalties or commissions you will have to pay.

2.9 Credit terms
- What credit policy will be adopted and what is the standard for your type of business?
- If any, what credit terms have you arranged with your suppliers.
- If any, what terms will you offer your customers.

2.10 Plant and equipment
- List the plant and equipment necessary to start production or to provide the services offered.
- Indicate equipment suppliers purchasing or leasing and the time required to order and install equipment.
- Also indicate the expected running and maintenance costs.

2.11 Quality control
- What measures will you put in place to ensure that all work is to the standard you require?

2.12 Memberships and affiliations
- Are you a member of any relevant associations (e.g. industry associations, Chamber of Commerce etc.)?

2.13 Communications
- How will you be contacted?
- What communication systems will you use (e.g. telephone, mobile, fax, webAnternet, etc.)?
- Include numbers.

2.14 Trading hours
- What will your trading hours be? 2.15 Commencement date
- When will you start the business?


3.1 Organisational structure
- What positions are there in the business?
- Include diagram of structure, if required.

3.2 Skills required
- What skills are needed for each position?
- Do you have them now?
- If not, what will you do to get them?

3.3 Personnel
- Who will fill each position? 3.4 Resumes
- Include brief resumes of the main personnel. (If they are detailed, it is better to include them as an appendix.)


4.1 Financial strategy
- What finances are required to commence the business?
- Where will this money come from?
- Have you applied for finance yet?
- Where will you seek finance?

Attachment:- Business plan.rar

Verified Expert

This assignment is prepared as a business plan. All the requirements have been met. The headings along with the sub sections are clearly labelled. There are four main sections of this business plan that have been added in the solution. The sections range from marketing plan, operations plan, organizational plan and financial plan.

Reference no: EM131523865



7/17/2017 12:26:50 AM

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6/9/2017 3:45:54 AM

Kindly go through the attached file in details and make sure to meet all the requirements ... Zero plagiarism Moreover, Business Name: (Sliver Fashion) you can check the power-point attachment about the assignment. Regards,

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