Starting a Business and Role of Innovation In Marketing

Learning Outcome

1. Undertake simple research into new market area and present the research-informed
2. Apply principles of marketing to a real-world case study.

Assignment one is business plan report which is based on initial market research of your own business idea (2000 words). This report must include the following:

Introduction

a) An overview of the proposed business idea

b) A brief explanation of the personal expertise you have in this area: why will you be a success?

c) A brief discussion of the gap in the market you aim to fill

d) the location of your proposed business and justification for the choice

e) A brief outline of the report content and structure.

Main body:

a) An evaluation of current external business environment (PESTLE analysis) relevant to your proposed business.

b) A discussion of the competitors, the competitiveness of the industry, who your direct/indirect competitors might be and what your competitive advantage.

c) A discussion of who your target market will be and humification for this choice.

Conclusion

a) A discussion of who your report does the PESTLE analysis make the proposed idea viable?

b) what are the main opportunities you have identified that your intent to take benefit of?

c) what are the main threats you need to be aware of?

d) what are the next step for your business plan?