11 May WHAT IS THE BASIC DEMOGRAPHIC INFORMATION ABOUT THE POPULATION OF THE SELECTED?
Description 1 -What is the basic demographic information about the population of the selected? 2 -What are the top opportunities for your proposed products or services into that state? 3-What is the tax rate for the state? 1. Product Development You should select either a consumer product or service. The type of business should be clearly defined. 2. Opportunity Identification You should collect data to identify and evaluate potential market opportunities for your business. You should use a number of criteria, (i.e. population size, general business environment, and regulations) to support your decision. This part should include indicators of both market potential as well as market threats. 3. Developing a business plan for a business This part consists of developing a strategic business plan for a business of your choice. You need to identify the best types of business entity (sole proprietorships, partnerships, and corporations), your marketing plan (the potential target market and the marketing mix). Your management plan (identify the opportunity, threats and strengths, and weakness of the business. A. 1. Identification of company’s strengths and weaknesses 2. Opportunity identification and analysis 3. Financial resource analysis 4. Potential market trends and demand 5. Marketing plan (target market, product, price, promotion and place) 6. Staffing analysis 7. Impact of economic trends 8. Selection of types of business entity
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