Final Project Developing a New Business Idea/Plan Part 1 Part 2 Business Idea Vision & Mission of your business - Business Objectives (Product) What is the brand name of the product/service? Give a brief description of your product/service Which industry your product belongs to? Why you have selected this product/business? Why people should buy your product? What competitive advantage you will have over your competitors? Organizational structure Segmentation/Cu Who will be your customers/target market (4 P's) stomer analysis Which type of segmentation you want to go for Age group, Gender, Income level/group, Occupation Psychological/attitudinal factors Competitor Who will be your competitors? analysis/SWOT What are their strengths and weaknesses? Analysis What substitute products are available? What is the level of competition in your product industry/sector? Business Strategies? Are there businesses that aren't currently direct competitors, but could be in the future? . . . Part 3 Part 4 Pricing strategy (Price) + Marketing plan (Promotion) What will be the cost of your product? What will be the retail price of your product? How people will know you product? How will you communicate your product to potential customers? Explain your advertisement strategies/promotional activities? How much money will you invest? Break down of financial investment such as buying equipment, renting a place, staff salary etc. Part 5 Financial plan Final Project Developing a New Business Idea/Plan Part 1 Part 2 Business Idea Vision & Mission of your business - Business Objectives (Product) What is the brand name of the product/service? Give a brief description of your product/service Which industry your product belongs to? Why you have selected this product/business? Why people should buy your product? What competitive advantage you will have over your competitors? Organizational structure Segmentation/Cu Who will be your customers/target market (4 P's) stomer analysis Which type of segmentation you want to go for Age group, Gender, Income level/group, Occupation Psychological/attitudinal factors Competitor Who will be your competitors? analysis/SWOT What are their strengths and weaknesses? Analysis What substitute products are available? What is the level of competition in your product industry/sector? Business Strategies? Are there businesses that aren't currently direct competitors, but could be in the future? . . . Part 3 Part 4 Pricing strategy (Price) + Marketing plan (Promotion) What will be the cost of your product? What will be the retail price of your product? How people will know you product? How will you communicate your product to potential customers? Explain your advertisement strategies/promotional activities? How much money will you invest? Break down of financial investment such as buying equipment, renting a place, staff salary etc. Part 5 Financial plan
