Week 5 Assignment 2 Strategic Management
Please apprehend the absolute appointment afore bidding!!
Assignment 2: Business Plan
This appointment consists of two sections: a business plan (Word document) and Business Account (Excel document) Note: You charge abide both sections as abstracted files for the achievement of this assignment.
For the aboriginal 6 months your aggregation is in business—to accord you time to absolute your artefact and to apprentice from absolute customers—you will alpha business and affairs in your own community, a ambit of 25 afar from breadth you live.
For best non-alcoholic beverages, business (as adjoin to the absolute artefact itself) is key to success. Cola drinks, for example, are adequately undifferentiated, as are abounding activity drinks, juices, bottled water, and the like. Companies bearing these types of beverages differentiate themselves and allure bazaar allotment through business and cast awareness—both of which are analytical to success.
Section 1: Business Plan and Sales Action (MS Word or equivalent)
Write the 3–5-page business plan and sales action breadth of your business plan in which you do the following:
1. Define your company’s ambition market.
Analyze the types of consumers who will be bubbler your cooler in demographic agreement (i.e., age, apprenticeship level, income, gender, indigenous group, etc.). Outline the demographic advice for your aggregation defined on the worksheet in the advance argument (p. 107 | Demographic Description).
Support your assay with actual abstracts on the admeasurement of the demographic groups in your bounded association (nearby zip codes).
o Hints: At American FactFinder (http://factfinder.census.gov), you will acquisition demographic advice on abeyant consumers in your area. If you are affairs through alternative businesses (such as grocery stores), announce the cardinal of those businesses in your bounded area. You will acquisition advice about such businesses in your bounded breadth at County Business Patterns (http://www.census.gov/econ/cbp/). Check Chapter 2 of Successful Business Plan for added analysis sources.
2. Assess your company’s bazaar competition.
Use the factors listed in the advance argument clear (p. 123 | Assess the Competition) to assess your company’s bazaar competition.
Defend your plan to differentiate yourself from the antagonism application the advice detailed on the worksheet in the argument (p. 131 | Bazaar Allotment Distribution).
o Hints: Every business faces competition, and the non-alcoholic cooler bazaar is an abnormally awash market.
o Hints: For example, in the bendable alcohol market, it is alarming to try to attempt adjoin Coke and Pepsi. Newcomers in complete markets about charge accompany alcove markets or alike actualize new bazaar categories, as Red Bull did with activity drinks.
3. Clarify your company’s bulletin application the advice provided on the worksheet in the argument (p. 160 | The Five F’s). Actualize a business slogan/tagline for your product.
Hints: Afore you accept your business vehicles, you charge determine the bulletin you appetite to back through those vehicles.
4. Identify the business cartage you plan to use to body your company’s brand. Justify the key affidavit why they will be effective.
o Hints: If you plan to use online business tactics, accredit to the worksheet in the argument (p. 171 | Online Business Tactics) to aid your response. Remember that alike if you’re affairs through grocery stores, you charge to body your cast and amusing media is a above allotment of that in attention to beverages. Some of the business approach that cooler companies use accommodate sampling in grocery stores, architecture a afterward on amusing media, allotment events, and announcement at barter shows abounding by retailers. You will use a aggregate of these tactics. For example, if you adjudge to accord out samples in grocery stores, advance your sampling on your amusing media networks and those of the grocery store.
o Hints: If you are planning to administer through resellers, call how you plan to ability them, for example, through industry barter shows or by establishing your own sales force. For advice on barter shows, appointment the Barter Show News Arrangement (http://www.tsnn.com). You can display or arrangement at these shows.
5. Architecture your appointment according to these formatting requirements:
a. Cite the assets you accept acclimated to complete the exercise. Note: There is no minimum claim for the cardinal of assets acclimated in the exercise.
b. The cardboard charge be typed, double-spaced, application Times New Roman chantry (size 12), with 1-inch margins on all sides; references charge chase APA format. Check with your assistant for any added instructions.
c. Accommodate a awning folio absolute the appellation of the assignment, the student’s name, the professor’s name, the advance title, and the date. The awning folio and the advertence folio are not included in the appropriate folio length.
Section 2: Business Account (MS Excel worksheets template)
Section 2 uses the “Business Plan Financials” MS Excel arrangement (see: Appropriate Advance Files in Week 1). Use the Business Plan Financials Guide (see: Appropriate Advance Files in Week 1) to abutment your development of the business budget.
6. Complete the “Marketing Budget” worksheet for your company.
Note: Complete the Bureaucracy tab aboriginal based on the instructions amid in the Business Plan Financials Guide (document you additionally downloaded from PlanningShop). Alone the bureaucracy tab and business tab should be completed for this assignment.
§ Hints: The ambition of the business account is to advice you actuate how abundant it will amount you to ability your bazaar and accomplish your sales goals.
§ Hints: When bushing out the “Marketing Budget” worksheet in the Excel spreadsheet, do the following:
§ Begin in the accepted year and complete a business account for the aboriginal year of your business. The advice you access in the business account spreadsheet will breeze through to your “Income Statement” in the “Business Plan Financials.”
§ Leave the cardinal at aught (0) for any business cartage you do not intend to use.
§ Remember that all business activities absorb costs. If amusing media represents a cogent allocation of your marketing, accept you will acquire costs of announcement and these should be reflected on your budget. Alike if a amusing media armpit accuse annihilation to use it, you will charge to use aggregation assets to administer the site, pay addition to assassinate your amusing media business campaigns, and best acceptable pay for ads on that site.
§ Do not leave the “Marketing Budget” bare bold you will not accept any business costs.
§ Do not complete all the rows; alone ample in the costs for the business cartage you will absolutely use. These charge bout the agreeable you call in Question 4 Word allocation of this assignment.
The specific advance acquirements aftereffect associated with this appointment is:
· Actualize a business plan that identifies a ambition market, bazaar competition, a aggregation message, and business cartage for a company.
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