ENTREP QUARTER 4

• Business Plan


  A well-structured document that outlines the objectives, strategies, and potential success of a business idea. It serves as a roadmap for entrepreneurs to start, manage, and grow their businesses.
• Parts of Business Plan


  • Executive Summary
  • Business Description
  • Market Analysis
  • Market Strategy
  • Sales and Revenue
  • Operations Plan
  • Financial Plan
  • Milestones and Goals
  • Risk Assessment
  • Conclusion
• Executive Summary


  Start with a brief overview of your business idea, its purpose, and the main points you will cover in your presentation
• Business Description


  Explain what your business is about, its nature, and the products or services you plan to offer
• Market Analysis


  Research your target market, their needs, and how your business will meet those needs. Include information about your competition and how you plan to stand out.
• Market Strategy


  Describe your marketing plan, including advertising, promotions, and social media strategies to reach your target audience effectively.
• Sales and Revenue


  Estimate your sales projections and revenue streams. Explain how you plan to generate income from your business.
• Operations Plan


  Outline the day-to-day operations of your business, including staffing requirements, location, and logistics.
• Financial Plan


  Prepare a financial plan that includes startup costs, projected expenses, and potential sources of funding. Include a break-even analysis and profit and loss projections.
• Milestones and Goals


  Set short-term and long-term goals for your business, along with specific milestones to measure your progress.
• Risk Assessment


  Identify potential risks and challenges your business may face and explain how you plan to address them.
• Conclusion


  Summarize your business plan and emphasize the key points that make your business idea unique and promising.
• Breakthrough Products


  Innovative, groundbreaking, and transformative items or services that significantly change the way people perceive, use, or interact with a particular product category.
• Differentiated Products


  Try to claim a new space in the mind of the customers different from the spaces occupied by existing products.
• Copycat Products (Knockoffs, Imitations, or Clones)


  Items that closely resemble or imitate the design, features, or functionality of an existing product without the permission of the original creator.
• Niche Products


  Items or services that cater to a specific, targeted, or specialized segment of the market. They are designed to meet the unique needs, preferences, or interests of a particular group of consumers who may not be well-served by mainstream offerings.
• Price


  A crucial factor in determining the demand and supply of goods and services in the market.
• Advertising


  Paid promotional messages through various media channels such as television, radio, newspapers, magazines, social media, and online platforms. Advertisements aim to create brand awareness and influence consumer behavior.
• Public Relations (PR)


  Activities that focus on building and maintaining a positive image for a brand or product through media coverage, press releases, events, and sponsorships. It helps to establish credibility and trust among the target audience.
• Sales Promotion


  Short-term marketing tactics used to stimulate consumer purchasing, such as discounts, coupons, buy-one-get-one-free offers, contests, and giveaways. These promotions often have a limited duration and are designed to create a sense of urgency.
• Personal Selling


  Direct communication between a salesperson and a potential customer, aiming to persuade them to buy the product. This can occur through face-to-face interactions, telephone conversations, or online chat sessions.
• Direct Marketing


  Directly communicating with potential customers through various channels like mail, email, or text messages. The goal is to promote the product and encourage a direct response, such as making a purchase or signing up for a service.
• Digital Marketing


  Utilizing digital platforms and strategies, such as social media, search engine optimization (SEO), content marketing, and influencer marketing, to reach and engage with target audiences online.
• Event Marketing


  Organizing or participating in events, trade shows, or exhibitions to showcase and promote the product to potential customers in person.
• Product Placement


  Strategically placing a product in a TV show, movie, or other forms of media to increase its visibility and appeal to the audience.
• Consumer Products are goods intended for individual or household use
• Industrial Products are goods meant for business use, such as raw materials, components, and capital goods
• Durable Products


  Products designed to last for a relatively long time and are not consumed or exhausted by use. Examples include appliances, furniture, and automobiles.
• Non-Durable Products


  Products that are consumed or exhausted during normal use and have a short life span. Examples include food, beverages, and personal care products.
• Services


  Intangible offerings that provide utility or benefits to customers, such as transportation, healthcare, education, and entertainment.
• Tangible Products


  Physical goods that can be touched, seen, and held. Examples include clothing, electronics, and furniture.
• Digital Products


  Intangible, digital-based goods that can be delivered electronically, such as software, e-books, music, and online courses.
• Augmented Products


  Products that include additional features or services beyond the basic product, often to enhance the customer experience or provide added value. Examples include extended warranties, customer support, and loyalty programs.
• Private Label Products


  Goods manufactured by one company but sold under another company's brand. They are common in supermarkets and retail stores.
• Customized Products


  Tailor-made products designed to meet the specific needs or preferences of individual customers. Examples include bespoke clothing, personalized gifts, and custom-built homes.
• The Executive Summary is a brief summary of the entire business plan and is usually the first section.
• The Market Analysis section of a business plan would include information about the target market and customer demographics.
• The Products and Services section describes the company's products or services.
• The Organizational Structure section includes information about the company's management team and organizational structure.
• The Financial Projections section outlines the financial expectations and projections for the business.