MARKETING (up to five pages)
1. Describe the customer problem or the opportunity?
2. Describe the offering or solution (product or service)?
3. Describe how the offering solves the customer problem?
4. Describe the customer or target market?
5. Describe the unique value proposition?
6. Describe the sustainable competitive advantage?
7. Describe the intellectual property?
8. Describe a proof of concept?
9. Describe pricing and pricing strategy?
10. Describe the promotion, PR, and advertising techniques?
11. Describe the sales process, sales channels, and sales strategy?
Purpose: To learn how to analyze a business concept in the context of development. To understand how a business is organized to serve community needs.
The Situation: You will create a business plan for a new product or service that will serve the interests of an area that either you or one of your teammates has studied.
Step 1- Choose a location (a city, a town, a neighborhood) then, develop a concept for a business, service, or product that will best serve the needs of that neighborhood. Note: you may not simply purchase a franchise, but you can offer a business idea that exists in another community. The point is that the business cannot already exist in your community of choice.
Step 2 – Determine your budget: It must be within reason and supported by data. You may need to do additional research to determine the costs of the project, especially if it involves real estate. You will be seeking funding from “shareholders” (i.e., your classmates) during the course of your presentation.
You need top project revenues and expenses for 3-5 years. Of course, since you don’t really have the business, these projections will be hypothetical. However, they must be based on reasonable assumptions.
Step 3 – Create a business plan that you will be able to use to present your new business to prospective shareholders, financial institutions, legal firms, or whoever may need information to support your business.