MAJOR ASSIGNMENT 2
Due Friday 31/05/2013
This assignment is made up of four sections: Your Entrepreneurial Business Concept; Your Prototype; a Launch Campaign to promote your Business; and Your Pitch. The theory underpinning each of these sections is covered in the video lectures for Weeks 9, 10 and 11.
The assignment is to be completed and submitted as a group consisting of 5 members. Submission must be made electronically by emailing your assignment to email@example.com Make sure you list all group members on the front page of your assignment.
SECTION 1: Entrepreneurial Business Concept
Length: Around 1500 words
Contribution to total assignment mark: 45%
In this section you need to clearly explain your business concept. To do this provide succinct answers to the following questions:
1) What is your business concept?
What product or service are you offering? Who will your customers be and how will they buy from you (e.g. online, through a retail outlet etc)? What is the name of your business?
2) What trend are you exploiting?
What was the inspiration behind your business concept? Do you have examples of other successful businesses that are offering similar products and services? Why do you think this trend is worth exploiting?
3) Why do you believe your business will succeed in the market? Have you conducted any market research? What evidence do you have that customers want and will pay for the products or services you will be offering? Are there any other businesses against which you will be competing? How will you attract customers away from them?
4) How will your business make money?
How much will it cost you to make, purchase or deliver your products or services? What price will you be selling your products or services at? How much profit will you make per sale? How many sales do you plan to make in the first year of operations? What evidence do you...
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