Business Plan #4

Part 1

1. Research and write the definition of Sole Proprietorship, Partnership, Corporation and LLC
2. Decide which structure would best fit your business, and write an explanation as to why you feel that is the best structure for your business

Part 2

1. Define Free Enterprise (should be a paragraph)
2. Define Mixed Market Economy
3. Google how to set up a business
4. (Legal steps)
5. List the key steps (this should be about 10)

Business Plan # 3

Use your textbook and any other source you think is valid and answer the following questions in regards to your own business idea:

• Explain the demographic characteristics(use the list of ideas in your book to figure out what to include here) of your target market.
• Create a psychographic profile(use your book to find out what is included in the psychographics) of your target markets. Name each group and describe its characteristics. Example: Elderly people are resistant to change, thus are less likely to try a new product to the market.
• Describe the behaviors of your target market and their motivations for purchasing.
• Explain how your business will capitalize on the demographic and psychographic characteristics of your target market.

Business Plan #2

What industry is your business in?

a. Research it online. (hint: Automotive , Technology & Construction are a few industries)

What competitors does your business have?

a. Think locally, nationally and globally.

b. Competitors may not do exactly what your business does but they will compete for the same customers.

How is your industry composed?

a. I.E. are there many small companies or a few large competitors, etc.?

How large is your market?

a. In other words, what are the total sales of businesses in your industry?

b. Research it online.

c. If you’re having trouble finding the number, take an educated guess.

i. Do you think it's in the thousands, millions, billions, etc.?

Starting Your Business Plan

BEFORE YOU START

Create a new folder in your MARKETING FOLDER called BUSINESS PLAN

Create a word document to use as a template for all business plan assignments. You can use this document weekly to finish your project. (Just be sure to save it under a different name like “TEMPLATE”) Your template document will contain this info and meet these specifications:

a. [Your Name]

b. Marketing 1a

c. [Your Hour]

d. Business Plan Project #[_]

e. [Date]

Your text should be: Left aligned, Font: “Cambria (Body)” or “Arial”, Font size: 12

BUSINESS PLAN #1

Create a one-page document explaining your business idea. Include the following:

a. Briefly describe the business and its purpose.

b. What types of products will you sell?

c. Where will the business be located?

d. Do you think there is a need (a market) for this type of business? Why or why not?

Thursday September 8, 2011

The PowerPoint for chapter 1.1 is posted on my website. To see it, click the link to Mrs. Clark's Webpage on the tab at the top of this blog!

Today we begin work on our 7 functions wheel.

Wednesday September 7, 2011

Good Morning!

Today we will complete our pre-test.

We will also review the course syllabus. Please remember to turn in your Syllabus Acceptance Form by Monday September 12, 2011 for 15 points.