Homework: Start-Up Business Plan-Entrepreneurship and Small Business
Assume yourself as an entrepreneur of a small-scale business in Saudi Arabia.
1. Create a new business, which is located in the Kingdom of Saudi Arabia, which include the followings:
o Introduction about your business.
o Product and type of services.
o Business statement.
o Business vision.
o Business objective.
2. Explain your business plan.
o What is important to you in your business?
o To whom will you market your product?
o Describe your Industry: Is it a growth industry? What long term or Short-term changes do you foresee in the industry? How will your company take advantage of it?
3. Apply SWOT analysis to your business.
o Describe your most important company strengths and core competencies: What factors will make the company succeed? What do you think your major competitive strengths will be? What background experience, skills, and strengths do you personally bring to this new venture?
4. Products and Services
o Describe in depth your products or services. (Technical specifications)
o What factors will give you competitive advantages or disadvantages? Examples include level of quality or unique or proprietary features.
5. Marketing Plan
o Market Research- Why?
o Market Research- How? Primary or Secondary Data?
o In your marketing plan, be as specific as possible; give statistics, numbers, and sources. The marketing plan will be the basis, later on, of the all-important sales projection.
Product
o Describe the most important features. What is special about it?
o Describe the benefits. That is, what will the product do for the customer?
Customer
o Identify your targeted customers, their demographics
Competition
o What products and companies will compete with you?
o How will your products or services compare with the competition?
Strategy
o Outline a marketing Strategy.
Promotion
o How will you promote your Product?
o What will be your promotional budget?
Distribution Channels
o How do you sell your products or services?
Format your homework according to the give formatting requirements:
1. The answer must be double spaced, typed, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also includes a cover page containing the title of the homework, the course title, the student's name, and the date. The cover page is not included in the required page length.
3. Also include a reference page. The references and Citations should follow APA format. The reference page is not included in the required page length.