Marketing Plan
For college writing, originality is a critical component. When you carry out a piece of academic work, you will be expected to research your subject thoroughly. It will be necessary for you to show an understanding of the contributions of other researchers and practitioners to your field of study. Keep in mind that plagiarism isn’t simply inadequate use of citations, it represents inadequate thinking. This project requires you to develop your own business idea instead of copying and pasting sentences and paragraphs from various websites.
Once you submit your paper using the Turnitin link below, you will be able to view the similarity report. For this particular project, a returned percentage of below 20% would probably indicate that plagiarism has not occurred. You can submit draft assignments using the Turnitin link and view the similarity score before final submission to assess and improve your writing.
If a student has copied someone else’s work, be it another student’s paper or taken material directly from some other source and made it appear to be their own; this is plagiarism.
A submission with a similarity score above 40% and a Turnitin report indicating evidence of plagiarism will result in a 0 grade for the project and potentially an F grade for the course.
Brainstorm ideas for a new business you (or your team if you work with other students–you may work in a team of maximum three people) want to start in the future–it can be a physical good or a service, but make sure your business is legit and ethical. In the Modules section under Final Project: Business Plan Information, I have uploaded a list of questions that you should cover in your business plan, a sample Word template (BA 100 Business Plan Submission Template.docx, also available in "Modules_Business Plan") that you can use to organize the sections, as well as a sample Excel spreadsheet for the income statement section. Feel free to edit or format the template as needed. Please answer all questions but do not copy the entire questions directly to your document, as copying and pasting questions could impact the similarity score report from Turnitin. Please watch the video above.
Choose a business idea that is appropriate for college learning. It could be fictional or real. Maybe you've already participated in a family business (e.g., a family restaurant) and want to expand it or improve the sales–that is great. If fictional, state clearly that it is for a future business and all numbers are estimated. Your estimates (e.g., sales and costs) should be realistic. For example, very few people will be able to borrow or make millions of dollars when starting a business. The best way to get good estimates is to observe a similar business nearby, count the number of customers per hour, and estimate the amount each customer spends. Then you can estimate daily/weekly/monthly/annual sales. Make sure that you stay safe and follow social distancing rules if you choose to observe a business.
At the end of your business plan, include a simple income statement for next year that include expected sales, revenue, profit, expenses. You should use or modify the sample Excel spreadsheet provided in "Modules_Business Plan".
Submit you file using the Turnitin link below for the assignment. If working as a team (maximum 3 members per team), please upload only ONE copy with all members' names on the first page.
Word/PDF Document: 500 words minimum (excluding references and questions from the list).
Year 1
| BA 100 Business Plan: Income (Profit-and-Loss) Statement–Simplified | |||||||||||||
| Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | YEAR 1 | |
| Expected Unit Sold | 0 | ||||||||||||
| Price Per Unit | |||||||||||||
| Total Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Unit Cost of Goods Sold Hu, Jianli: What is the average cost per unit? |
|||||||||||||
| Total Cost of Goods Sold | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Gross Profit | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Expenses | |||||||||||||
| Rent Expense | $0.00 | ||||||||||||
| Salary/Wage Expenses | $0.00 | ||||||||||||
| Supplies Expense | $0.00 | ||||||||||||
| Advertising Expense | $0.00 | ||||||||||||
| Utilities Expense | $0.00 | ||||||||||||
| Telephone/ Internet Expense | $0.00 | ||||||||||||
| Insurance Expense | $0.00 | ||||||||||||
| Loan Interest (if applicable) | $0.00 | ||||||||||||
| Other Expenses | $0.00 | ||||||||||||
| Total Expenses | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Net Profit | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
1. Fill the yellow cells with proper estimates for your business. 2. All green cells are set to calculate automatically. 3. The blue cell (Cell N24) shows your total profit of the first year. Note that this number might be negative if you incur more expenses in the first year. 4. If you have multiple products, you can copy and paste the sheet to a new sheet.
,
ZOOM
BA 100 Business Plan Student Template
Business Name
Description of Your Business
Form of Business Ownership
Mission statement
Business Goals
SWOT Analysis
Organizational Chart
Leadership Philosophy
Target Market
Product/Service Attributes
Pricing Strategy
Distribution Issues
Advertisement
IT Resources
Income Statement
,
BA 100 Business Plan Questions: 1. What is the name of your business?
Hint: When you think of the name of your business, make sure that it captures the spirit of the business you are creating.
2. What will your business do?
Hint: Imagine that you are explaining your business to a family member or a friend. The business should be easy to explain. Keep your description here to about 30 words or less.
3. What form of business ownership (sole proprietorship, partnership, or
corporation) will your business take? Why do you choose this form? Hint: For more information on the types of business ownership, refer to the discussion of the different forms of business ownership in Chapter 3.
4. Provide a brief mission statement for your business
Hint: Refer to the discussion of mission statements in Chapter 5. Be sure to include the name of your business, how you will stand out from your competition, and why a customer will buy from you.
5. Consider the goals for your business. List 2‐3 business goals for the first year,
and 2‐3 intermediate to long‐term goals. Hint: Refer to the discussion of goal setting in Chapter 5. Be as specific and realistic as possible with the goals you set. For example, if you plan on selling a service, how many customers do you want by the end of the first year and how much do you want each customer to spend? If you plan on selling a good, how many do you hope to sell?
6. Perform a basic SWOT analysis for your business, listing its main strengths,
weaknesses, opportunities, and threats. Hint: We explained above what factors you should consider in your basic SWOT analysis in Chapter 5.
7. Create a simple organizational chart for your business. Make sure that you
organizational chart indicates who will work for each manager as well as each person’s job title. Hint: Most businesses start off quite small. However, as you create your organizational chart, consider what your business will look like in the future. What different tasks are involved in the business? Who will each person report to in the organizational structure? Refer to the discussion of organizational structure in Chapter 6 for information to get you started.
8. What is your philosophy on leadership? How will you manage your employees
day‐to‐day? Hint: Refer to the discussion on leadership in Chapter 9 to help you formulate your thoughts.
9. Describe your target market in terms of age, education level, income, and
other demographic variables. Hint: Refer to Chapter 11 for more information on the aspects of target marketing and market segmentation that you may want to consider. Be as detailed as possible about who you think your customers will be.
10. Describe the features and benefits of your product or service.
Hint: As you learned in Chapter 11, a product is a bundle of attributes—features and benefits. What features does your product have—what does it look like and what does it do? How will your product benefit the buyer?
11. What pricing strategy will you choose for your product, and what are the
reasons for this strategy? Hint: Refer to Chapter 12 for more information on pricing strategies and tactics. Since your business is new, so is the product. Therefore, you probably want to choose between price skimming and penetration pricing. Which will you choose, and why?
12. Where will customers find your product or service? (That is, what issues of the
distribution mix should you consider?) Hint: If your business will sell its product directly to consumers, what types of retail stores will sell your product? If your product will be sold to another business, which channel of distribution will you use? Refer to Chapter 13 for more information on aspects of distribution you may want to consider.
13. How will you advertise to your target market? Why have you chosen these
forms of advertisement? Hint: Marketers use several different advertising media—specific communication devices for carrying a seller’s message to potential customers—each having its advantages and drawbacks. Refer to Chapter 13 for a discussion of the types of advertising media you may wish to consider here.
14. What kind of IT resources will your business require?
Hint: Think about the employees in their business and what they will need in order to do their jobs. What computer hardware and software will they need? Will your business need a network and an Internet connection? What type of network? Refer to Chapter 14 for a discussion on IT resources that you may want to consider.
15. Create a basic income statement (profit‐and‐loss statement) for your business.
Please use the Microsoft Excel sample spreadsheet that is found in the “Modules” section of the Canvas course (last module, “Final Project”). Once you complete the sheet, take a screenshot (or copy the table) and paste it to your Word document.
Collepals.com Plagiarism Free Papers
Are you looking for custom essay writing service or even dissertation writing services? Just request for our write my paper service, and we'll match you with the best essay writer in your subject! With an exceptional team of professional academic experts in a wide range of subjects, we can guarantee you an unrivaled quality of custom-written papers.
Get ZERO PLAGIARISM, HUMAN WRITTEN ESSAYS
Why Hire Collepals.com writers to do your paper?
Quality- We are experienced and have access to ample research materials.
We write plagiarism Free Content
Confidential- We never share or sell your personal information to third parties.
Support-Chat with us today! We are always waiting to answer all your questions.
