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Market Aspect
In this aspect of business, you provide an assessment of the market demand for your product or service. The analysis reveals who will buy your product and what they are willing to pay for it
Business Description
what the start-up business will be and the products or services that will be offered. Explain what form of business organization will be used such as Partnership or Corporation
Mission
primary purpose both for the company and the public
Vision
The start-up business views/dream after five years
Business Objectives
statement of an attainable, time-targeted that the business wishes to achieve in terms of profitability, productivity, customer service, employee retention.
Business Name and Logo.
is the virtual representation of the business. Use image and tagline.
Product testing
an activity to verify acceptability and safety of product and services.
Product Upgrading
the practice of replacing a product with a newer version of similar product or new related product
Target Market
Process of identifying the available market using bases of segmenting
Demographic
(gender, income, age, occupation, educational level, marital status)
Geographic
(location, region)
Psychographic
(attitudes, values, beliefs, interests and lifestyles)
Potential Demand
get the total population of the identified target market
Actual demand
make research about the actual demand of the product
Industry Analysis
(explain the table in paragraph) (explain what is the present economic status or condition of the product) (cite a literature)
Competitive Advantage
(explain in paragraph what makes your product unique)
Penetration Pricing
setting a low price to increase sales and market share.
Competition Pricing
optional, setting lower or higher or price the same
Skimming Pricing
setting an initial high price and then slowly loweringthe price.
Product Line Pricing
pricing within the same product range
Promotional Strategies
Advertisement (printed, radio, television)
Note
Flashcard