Overview Business Plans are used extensively in teaching business. The case study research strategy provides the opportunity to develop an in-depth understanding of an organization or event—data can b

Course Project Part 2

Student Name

DeVry University

BUSN 460 Senior Project

Dr. Michael Reitzel

Date

Section E: Target Market and Segmentation 3

Section F: Value Proposition 3

Section G: Pricing Strategy 3

Section H: Marketing Promotion Strategy 3

Section I: Day-to-Day Operations 5

Section J: Facilities and Equipment Plan 5

Section K: Technology Plan 5

References 7

Course Project Part 2

Describe your market. Where is it? How big is it? What is the growth rate? What are the unique features or dynamics of this market? What causes people to buy? What are the demographics and psychographics of your target customer? REPLACE INSTRUCTIONS WITH YOUR WORDS.

Specific evidence that people will buy your product or service. What is your "hook?" Describe your primary research, and explain how the results validate the value of your product or service to your target audience. Primary market research is the key to this evidence. Prove that if you make this investment, customers will buy what you are selling. What is your competitive edge? REPLACE INSTRUCTIONS WITH YOUR WORDS.

Describe your pricing strategy and specific prices. How did you arrive at these prices? What are competitive prices? Why are yours different? How do your prices relate to costs and your development investment?. REPLACE INSTRUCTIONS WITH YOUR WORDS.

Describe the role, the strategy, and the execution of your total communications plan. What is your message? What are your specific communication vehicles, such as advertising, literature, promotion, the Internet? What type of scheduling or timing will you use? Show your budget by year and type of expense. REPLACE INSTRUCTIONS WITH YOUR WORDS.

Describe how your business will "operate." If you make a product, describe the production. If you offer a service, describe each step of that service. If you are a retailer, location, product mix, and suppliers are important. Think through your business' daily operation and explain it in detail. Then, think about who, what, and how each of those steps will happen. Realistically, how much of this can one person do? Strategically, how will you plan for growth? REPLACE INSTRUCTIONS WITH YOUR WORDS.

Describe and cost your capital assets, such as production lines, office equipment, and buildings. If you plan to have a physical location, include a floor plan if possible. Address your build-out strategy. Are you leasing a location that meets your specs (fairly unusual); if not, include a build-out plan with high-level milestones, dates, and costs? What are your startup timelines? Expansion timelines? REPLACE INSTRUCTIONS WITH YOUR WORDS.

Describe your company's IT needs and how much they will cost and how you will implement. Will you have a web presence, and if so, what type of functionality will it include? If you need a particular software program, explain its function. Will you need licenses for each employee? Will you handle your IT requirements with "in-house" or outsource to IT consultants—explain your decision. REPLACE INSTRUCTIONS WITH YOUR WORDS.

Abrams, R., (2014). Successful Business Plan: Secrets and Strategies (6th Edition). PlanningShop (US).