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Location Description of business

May 14, 2023

History of the business

Where did they come from?

Mission Statement of the business (many small businesses may not have this)

Two Objectives for 2018

External Environmental Factors:

Technological – what technological factors influence or could influence this business

Political/Legal – what laws, regulations, etc. could impact this business?

Social/Culture

Economic

Competition – provide a table comparing and contrasting your chosen business and its competition.

COMPETITIVE ADVANTAGE ANALYSIS: How well does the proposed service meet the demands of the market compared with the competition? Create a table comparing your business with its direct competition as to what is offered. What does your chosen company do that the competition does not?

Complete a SWOT Analysis of the business.

What are the TARGET SEGMENTS of your business? Why? Create a table identifying your target segments. This table should address each target by a “label” – for example, if we are discussing the target market for jewelry. Commonly you would have the woman who buys consistently, the man who buys for his favorite woman, the woman who buys occasionally, men who purchase men’s jewelry, age groups and incomes would come into the segmentation as well.

Describe the BUSINESS. Who delivers the service/product? What is the physical environment like? Describe it. Describe the process.

PRODUCT

What are the PRODUCTS and/or SERVICES offered by your company?

This should be in a table format. If you have a company such as a retail store, you may list the products by brands and/or categories.

Make sure that you include any services provided by your company (wrapping, free delivery, etc.)

How does your company compare to its competition?

Are there any changes you would recommend making to their product/service offerings?

PROMOTION

Assess the INFORMATION NEEDS of target market(s). What information do customers need, (e.g. address of premises)?

Describe any PERSONAL SELLING is involved and if so what forms this takes. If not explain why not.

Explain their current advertising strategy.

#Location #Description #business

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