B205B Exploring Innovation and Entrepreneurship-implications of the plan

B205B Exploring Innovation and Entrepreneurship-implications of the plan


One vehicle for acquiring an understanding of the entrepreneurial process is through the preparation of a start-up business plan. The focus of this TMA is to select a business idea and create a part of a business plan. Writing a business plan requires you to ask tough questions about the nature of the business.
What are the benefits of your product or service? 
What is the target market and how will you penetrate it? 
What are the financial implications of the plan? 
Brief explanation of the Product(s) or Service(s) offered

Describe briefly product / service to be sold.


Identify the target market for the product/service by Discussing who the customers for the product(s) or service(s) are or will be. 

Show who and where the major purchasers for the product or service are in each market segment. Include national regions and foreign countries, as appropriate.

Indicate whether customers are easily reached and receptive, how customers buy (wholesale, through manufacturers’ representatives, etc.).
Indicate how fast you believe your product or service will be accepted in the market. 

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