MGT 402 Saudi Electronic Univ

this Assignment is part 2 of the project i already did the first part and i will send now so you can continue using the same information

 Entrepreneurship and Small Business

ASSIGNMENT -2

Submission Date by students:Before the end of Week- 11th 

Place of Submission: Students Grade Centre 

Weight: 05 Marks

Learning Outcome

  • Utilize strong analytical skills and tools to formulate an effective Bootstrap Marketing Plan on which a small business can build a competitive edge in the market place. (Lo 1.8).
  • Deliver and communicate marketing massages in coherent and professional manner. (Lo 4.4).

Assignment Workload:

This assignment is an individual assignment.

Start-up Business Plan

Imagine you started a new business as an entrepreneur in Saudi Arabia (In Continuation to the Assignment -1).

Please, think and share information on the following items:

4. Marketing Plan

a. Market Research- Why? (1 Mark)

b. Market Research- How? Primary or Secondary Data? (1 Mark)

c. 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. (3 Marks)

Product

  • Describe the most important features. What is special about it? 
  • Describe the benefits. That is, what will the product do for the customer?

Customer

  • Identify your targeted customers or your ideal customer: How many of them are there? It’s important here to be specific.

• Demographics

  • Customer relationships: How do customers want to interact with the business?

Competition

  • What products and companies will compete with you?
  • How will your products or services compare with the competition? Identify the organization’s competitors and their strategies, along with ways to counter competition and gain market share.
  • How is your target market solving their problem today? Are there alternatives or substitutes in the market?
  • Investors will want to know what advantages you have over the competition and how you plan on differentiating yourself.

Strategy

  • Outline a marketing Strategy.

Promotion

  • How will you promote your Product?
  • What will be your promotional budget?

Distribution Channels

  • How do you sell your products or services?
  • What are the costs associated with distribution?

MGT 402 Saudi Electronic Univ

Start-up Business Plan     Imagine you started a new business as an entrepreneur in Saudi Arabia.   Please, think and share information on the following items:  1. Owners, capital structure and company profile  a. Your Business Name, Address, E?Mail   b.  Form of ownership:What is the legal structure? Sole proprietor, Partnership, Corporation…..  C. Investment capital   2. Company Business Description (300 – 400 words)  A. Scope and type of business   What business will you be in? What will you do? What market segment will you choose?  • Business idea: what is your big idea? Is it a product or a service? What makes your idea different?   • Mission Statement  • Company’s short-term and long-term goals and objectives.  • Target market and demographics: Who will your customers be? Where do they live? What is your target market passionate about?    B. Business Philosophy  What is important to you in your business?  • 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?   • 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?  • Risk Assessment: Evaluate the strengths and weaknesses of your business using SWOT.  • Scale of the business and its growth anticipation: what is the growth rate per year for five years? What do your 5-year financials look like? What is your path to profitability?  •Who is your competition and how do you beat them?  • Start-up costs: what costs do you expect to make the business run for the next five years?   

3. Products and Servicesa. Describe in detail your products or services (Technical specifications).b. Size of business: how many employees? How many offices and retail facilities?       c. What factors will give you competitive advantages or disadvantages? Examples, include level of quality or unique or proprietary features.

MGT 402 Saudi Electronic Univ

  • Clear and well presented work, marks may be reduced for poor presentation.
  • Must mention question number clearly in their answer.
  • Avoid plagiarism, the work should be in your own words, copying from students or other resources without proper referencing will result in ZERO marks. No exceptions.
  • All answered must be typed using Times New Roman (size 12, double-spaced) font. No pictures containing text will be accepted and will be considered plagiarism).

Start-up Business Plan

Imagine you started a new business as an entrepreneur in Saudi Arabia.

Please, think and share information on the following items:

1. Owners, capital structure and company profile

a. Your Business Name, Address, E?Mail

b.  Form of ownership:  What is the legal structure? Sole proprietor, Partnership, Corporation…..

C. Investment capital

2. Company Business Description (300 – 400 words)

A. Scope and type of business

What business will you be in? What will you do? What market segment will you choose?

  • Business idea: what is your big idea? Is it a product or a service? What makes your idea different?
  • Mission Statement
  • Company’s short-term and long-term goals and objectives.
  • Target market and demographics: Who will your customers be? Where do they live? What is your target market passionate about?

B. Business Philosophy

What is important to you in your business?

  • 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?
  • 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?
  • Risk Assessment: Evaluate the strengths and weaknesses of your business using SWOT.
  • Scale of the business and its growth anticipation: what is the growth rate per year for five years? What do your 5-year financials look like? What is your path to profitability?
  • Who is your competition and how do you beat them?
  • Start-up costs: what costs do you expect to make the business run for the next five years?

3. Products and Services

a. Describe in detail your products or services (Technical specifications).

b. Size of business: how many employees? How many offices and retail facilities?

c. What factors will give you competitive advantages or disadvantages? Examples, include level of quality or unique or proprietary features.

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