Describe components of the specific marketing strategy you will use to promote the business and its product(s) or service(s).

Published by Jeannie R. Ferrell

Dec 8, 2022

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The instructions are as follows, but in precise summary :
BUSINNES PROFILE
PRODUCTS AND SERVICES
COMPETITIVE ANALYSIS
MARKETING STRATEGY
FINANCIAL INFORMATION
MANAGING AND STAFFING
ADITIONAL INFORMATION
BUSINNES LOGO
BUS 139 – Entrepreneurship I
Page 1 of 5
SIGNATURE ASSIGNMENT: BUSINESS PROPOSAL
OVERVIEW: The purpose of this first component of the Signature Assignment is for the student
to develop an idea for a business that they would consider pursuing as an entrepreneur. When
developing the business idea, each student should first consider giving thought to the type of
product(s) or service(s) their business will sell/provide as well as the way in which technology
will be incorporated into the business, its product(s) and service(s).
A healthy understanding of
the product(s) or service(s) for the proposed business can serve to help the student think more
intentionally about the business as a whole.
INSTRUCTIONS PART I: BUSINESS PROPOSAL (60 Pts)
Prepare 1½ – 2 page single spaced business proposal containing responses to the following
prompts. Provide detailed and meaningful information and refrain from vague generalities.
Number your responses appropriately based on the following required elements:
BUSINESS PROFILE
1. Identify the name of your proposed business.
2. Discuss the primary function(s) of the proposed business (e.g., service and repair, wholesale
or retail, build or manufacture, serve or feed, help or promote, etc.).
3. Identify three goals for the business or develop a mission or vision statement.
4. Describe the business location. Areas to consider as part of this discussion are:
• city and state where the business will be headquartered
• the online presence to be used when selling the product(s) or service(s)
• pop-up shop locations and frequencies
• third-party retailers through which you anticipate selling the product(s) or service(s)
PRODUCT(S) OR SERVICE(S)
5. Discuss the product(s) or service(s) to be offered/sold by the proposed business? Provide
meaningful details regarding the following:
• features and benefits
• technological aspect of the business and the product(s) or service(s)
• packaging
• target audience (ideal buyer or user)
COMPETITIVE ANALYSIS
6. Identify competing businesses and provide details of competitive products or services
currently on the market.
7. Identify the strengths of the competition and the threats posed.
BUS 139 – Entrepreneurship I
Page 2 of 5
8. Discuss how you intend to differentiate your product(s) or service(s) from those of the
competition. In doing so, consider your approach to:
• establishing a pricing structure
• packaging and design
• product placement
• unique branding opportunities
• service skills, processes, and benefits
• customer acquisition
MARKETING STRATEGY
9. Describe components of the specific marketing strategy you will use to promote the business
and its product(s) or service(s). Consider whether you might use any of the following in this
endeavor:
• free product(s) or service(s) to create a buzz
• social media contest
• blog post
• live demonstrations
• flyers
• low introductory pricing
• person-to-person selling
• Facebook ads
• customer reviews
• a different marketing strategy
FINANCIAL INFORMATION
10. Assume you need to raise $50,000 to get the business started and operating. Discuss how
you will raise or secure the funding using no less than three different funding sources. (NOTE:
Family members and friends count as one funding source.) Potential funding sources to
consider include:
• your own personal finances
• money borrowed from relatives or friends
• crowd source funding

Small Business Administration (SBA) loan
• bank or financial institution loan
• a different funding source
When discussing this part of the paper, don’t just make up random information. Use the internet
as a research tool to seek grants designed for small businesses and entrepreneurs. Visit the
Small Business Administration’s website for the state to learn about small business loan
qualification requirements. Speak to a trusted family member and ask how much they might be
willing to lend you to start a new business venture. Provide meaningful information such as
interest rates for loans, payback terms and timeframes. If you plan to use crowd sourcing,
discuss the details of how you will structure the request for donations. Get creative and be
descriptive when discussing how to realistically raise the $50,000 start-up capital, but do not be
vague.
BUS 139 – Entrepreneurship I
Page 3 of 5
11. Discuss how the $50,000 start-up funds will specifically be used. Identify reasonable first
year expenses needed to start and operate the business (e.g., business license, equipment,
materials, salaries, marketing, etc.).
12. Calculate and discuss a reasonable cost for the product(s) or service(s) and discuss your
pricing strategy for resale purposes. Next, discuss the expected profit margin (NOTE:
Mathematically you would calculate this as (selling price – cost) / cost. For example, if you
develop a product for a cost of $10 and sell it for $15, the markup would be calculated as:
($15 – $10) / $10
$5 / $10
.5 (convert the decimal number to a percentage to get a 50% markup
MANAGING AND STAFFING
13. Identify your role within the business and the number of employees needed for the proposed
business to function effectively? (NOTE: The proposed business must use no less than three
employees.) Discuss the specific positions and areas of responsibility the employees will hold
and fulfill.
ADDITIONAL INFORMATION
14. Discuss additional information you think is important to help you succeed in launching the
proposed business venture.
INSTRUCTIONS PART II: BUSINESS LOGO (30 Pts)
Think of logos that successful companies use. Examples of logos for some of the most
successful organizations in the world are:
To stimulate your critical thinking, give thought about possible reasons why successful
companies choose their logos and how the logos represent the business model, mission,
products, or goals of the organization. Examples of such include:
The Toyota logo was designed to represent every alphabetic letter in the
company’s name.
BUS 139 – Entrepreneurship I
Page 4 of 5
The letter “P” in the Pinterest logo is meant to represent a board
pin.
The Tour de France logo contains a hidden shape of a cyclist in the middle of
the logo.
The FedEx logo contains an embedded right pointing arrow to indicate
speed and precision.
Baskin Robbins was built upon the premise of “31 wonderful flavors”.
The logo has the number 31 embedded and displayed in pink.
The Hyundai logo consists of an oval with the letter “H” in the middle. gan to the
product(s) or service(s), or business as a whole.
SUBMITTING THE WORK FOR GRADING
At the top of the document provide the following information:
• Your first and last name
• The name of the assignment: Signature Assignment – Business Proposal
The following required headers must be used within the body of the work:
• Business Proposal
• Business Logo
• Business Slogan
All work must be submitted in a single document as either a .DOCX or a .PDF. No other file
formats will be accepted.
Do not submit the work as a link to a document located on an external repository such as
DropBox or Google Docs. If you do, the work will not be accepted for grading.

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