Learner Achievement Portfolio
Assignment
There are 78 marks available for this assignment. You must score a minimum of 63 marks in total to achieve a pass. In addition to achieving the total pass mark, you must also score at least the minimum marks set for each section to achieve an overall pass.
You will need to produce a written assignment using the following guidance:
Develop a proposal to start a new business describing:
- The services/ products that are being offered by your business and why.
- Who the potential customers will be.
- How the needs of the customers will be met.
- How the business will meet the needs of the customers better than its competitors.
- How the services/products offered by your business will be delivered and by whom.
- Using the SMART (Specific, Measurable, Achievable, Realistic and Time-bound) model devise a three year plan for your business.
- Detail the business start-up costs.
- Produce a cash flow forecast for the first year.
- Produce a SWOT analysis for your business and outline how strengths and opportunities can be capitalised on, and weaknesses and threats be overcome.
- Using your SWOT (Strengths, Weaknesses, Opportunities and Threats) analysis develop a marketing strategy in line with your business proposal.
- Produce a promotional flyer that accurately communicates your business offering to its target market(s).
Pro forma documentation to complete this assignment is in this L.A.P. A copy of the promotional flyer should be attached to the L.A.P.
Describe the services/products that are being offered by your business, and why.
Describe who the potential customers will be.
Describe how the needs of the customers will be met by the business
Describe how the business will meet the needs of the customers better than its competitors.
Describe how the services/products offered by your business will be delivered, and by whom.
Business objectives
Using the SMART (Specific, Measurable, Achievable, Realistic and Time-bound) model devise a three year plan for your business.
Year one: Outline the short term business development and financial goals.
Year two: Outline the short term business development and financial goals.
Year three: Outline the short term business development and financial goals.
Business start-up costs
Use the following table to record all start-up costs for your business (including all equipment, marketing materials, insurance/licensing, and loans).
Cash flow forecast
Use the following tables to produce a twelve month cash flow forecast, outlining income and expenditure. Your forecast must take into consideration the business objectives, seasonal fluctuations, business running costs, and sales of services and products. You should assume
you have taken a £1000 start-up loan.
Developing a marketing strategy - SWOT analysis
Using the table below, produce a SWOT analysis for your business and outline how strengths and opportunities can be capitalised on, and weaknesses and threats be overcome.
Using your SWOT (Strengths, Weaknesses, Opportunities and Threats) analysis develop a marketing strategy in line with your business proposal.
Describe the type of market research to be carried out for your business, indicating whether the research was primary or secondary, and sources of information.
Using the results of the market research, summarise the market size, demographic profile and wants/needs of the market place.
Using the M.A.R.S. (Measurable, Accessible, Responsive and Size) viability test, outline the implications for the viability of the business idea.
Using the results of the market research, describe which markets the business intends to target, and why.
Describe two products/services that the business will offer, including their prices, and places of offering. Give reasons for your choice, in relation to the research conducted.
Use the following table to develop a twelve month promotional plan for your business that schedules each promotional activity and its cost. The plan should focus on how you intend to capitalise on different phases of the business, e.g. pre-launch, launch, special offers, and seasonal trends. All promotional costs should be included in your cash flow forecast.
Produce a promotional flyer that accurately communicates your business offering to its target market(s). You will need to think about the following areas:
- Images/ Photos
- Headline
- Product or service details
- Incentives
- Contact information
- Unique sales proposition
Please include a copy of this flyer within your LAP.