Assignment: Business Plan
Your BUSINESS MODEL AND MARKET ANALYSIS needs to be very well written, and convey to the reader that you know and understand your market and industry. It should be at least 6 pages, DOUBLE-SPACED, with 12-point font, and have a 1-inch margin on all sides.
1. Business Model Value Proposition. This describes a customer problem or need and the bundle of products or services your business idea delivers that will address the problem.
a. Describe your product/service idea, and identify the problem or unmet need your idea will solve (your business idea may address a technology, economic, and/or social need).
b. Values. According to David Choi and Edmund Gray in Values-Centered Entrepreneurs and Their Companies, "....increasingly more customers welcome the opportunity of knowing what they are supporting beyond the physical product they are purchasing...." (2011:60). Write about your values and how those values might be incorporated in an authentic way into the value proposition that will set your company apart from the crowd.
c. What makes your idea worth someone's attention?
d. How is your idea similar to or different from others?
e. What features of your potential product or service are superior?
2. Market Analysis - This is a thorough description of the market for which your idea will create value:
a. Thoroughly explain to the reader what defines this market (i.e. explain if it is age and what that age is, location or other type of demographic characteristic defining it and what that demographic is, or if it is lifestyle or other type of psychographic characteristic defining it).
b. Clearly and specifically identify the actual target market (i.e., who are the people in this market, where do they live/work, and how would someone distinguish them from people in other markets?)
c. What is your estimate of the market size and your potential share and how did you arrive at these estimates?
d. How would you characterize the target market and what supports your characterization?
i. Niche market
ii. Diversified?
Format your assignment according to the following formatting requirements:
1. The answer should be typed, double spaced, 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 assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
3. Also include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.