Laws, Public Goods & Externalities

1. Research a law that relates directly to your business and industry.  It can be a national, state or local law.  Briefly explain the law.  Then explain how the law could positively or negatively impact your business and the steps you would take to make sure your business follows the law.
2. Research a public good or service that could potentially benefit your business.  This could be a good/ service that is directed at your industry, small businesses, your employees or your customers.  Explain how your business would capitalize from the government program/ good/ service.  Think creatively. Think entrepreneurially.
3. Describe an externality that your business would create.  Explain what makes it an externality and whether it is a positive or negative externality.  If it is a negative externality, what could your business do to minimize its harm?  If it is a positive externality, how could your business benefit from it?  Think like a marketer.

Halloween Promotion

Create a Halloween-themed promotion for your business.

Create a document that advertises a special deal, incentive or promotional event that will increase sales or bring in new customers.

Be creative and have fun with it!

Customer Profile

Define your Target Market – Write a Customer Profile

Research your product and its customers in regards to:

• Demographics (age, sex, race, etc.) 
• Geographics (cities & states, urban/suburban/rural)
• Psychographics (beliefs, behaviors, interests, habits, hobbies, passions, etc.)

Write a one-page customer profile (or profiles) based on your research.

Hints:

• Write your customer profile as if you were describing a fictional but specific person- BUT that person will represent a typical customer for your brand.
• You may have more than one (or several) target markets.  If so, write a brief customer profile for each.
• DO NOT- speak generally about your target market (e.g. My target market is anybody that will buy my product., etc).
• DO- Be specific and creative. Have fun with it!

Distribution

• Research and explain the channels of distribution for your business's products. (Either products you create, products you sell or the raw materials you use to create your products.)
• What intermediaries are used in the distribution process? Include them in your description of the distribution process. (IE Wholesalers, Rack Jobbers, Drop Shippers, Retailers)
• Choose one of the below that fits best for your business model:
• From 21-2, describe which strategies your business uses to distribute its product(s). Explain how and why. (IE Exclusive, Integrated, Selective, Intensive)
• Or choose one product from your business that uses each of the four strategies and explain how they use it- four products, total. (IE Exclusive, Integrated, Selective, Intensive)

Final Project

 Final Project Assignment

This Project is designed to follow the class

Each Friday you will be given and assignment worth 30 points that will relate to what we did in class that week and aid in developing your business plan

At the end of the second trimester you will create the following:

•    You must create a PowerPoint containing a minimum of 22 slides. This includes 20 slides that represent the 20 assignments due throughout the course (approximately).

•    You must title each slide

•    Have an opening slide and a closing slide/ these slides should include the name of your business, logo and slogan

•    Each slide must contain relevant backgrounds, readable, relevant text, a transition

•    You must have a minimum of 10 pictures or clip art in your presentation

•    Do not read the slides, prepare and be ready to discuss your plan

Evaluation Criteria:

Developing 1,2,3

•    Slides lack color and detail,

•    No transitions, no background

•    Text is difficult to read background

•    Text not relevant to the slide

Solid 4, 5, 6

•    Slide has some color, detail,

•    Most slides have transitions

•    The majority of slides are relevant

•    Most of the backgrounds/ relevant to the slide

•    Text is readable but not always clear

Exemplary 7, 8, 9, 10

•    The overall presentation is visually appealing,

•    The text easy to read,

•    Consistent, professional transitions; background has relevance and makes a strong visual statement, 

•    The content of all Slides are accurate and relevant

•    All slides have transitions

Additional criteria

•    5% Bonus for dressing professional

•    10% deduction for less than 7 minutes

 •    10% deduction for over 10 minutes

Price List

Create a menu and price list for your products and or services.

It should include:

• Your business name and logo
• All of the products and/ or services your business provides and their prices
• Optionals, add-ons, upgrades, etc. and their prices
• At least two illustrative graphics

Do a search for images of price lists to help you design yours.

Make it look professional: something you could post on a website, send to customers or have posted in
your business or distribute to customers.

Mission Statement

You will write a mission statement for your business. 

First, read this article on mission statements: www.fastcompany.com/magazine/140/do-something-wordplay.html

There are many other great sites that can assist in writing a mission statement.  Do a search for some.

Find the mission statement for Coke, General Motors and a third company of your choice. Then copy them onto your document.

Use your research as well as your examples to write an appropriate mission statement for your business.

Logo and Slogan

Create a logo and a slogan for your business.

Logo

• Design a logo to represent your business.
• Utilize your knowledge of effective artistic elements.
• Make sure your logo is consistent with your brand image
• You can either draw your logo by hand, create one using your favorite graphics software or customize one you found on the internet.

Slogan

• Create a slogan for your company.
• Explore slogan ideas at sloganizer.net, or find another resource for creating slogans. (While I don't recommend using these slogans word for word, they can help get the process going.)
• Explain your slogan.  What does it achieve from a customer standpoint and how is it consistent with your brand image?

Promotional Calendar

You will create a promotional calendar for one year (from January to December)

• Your calendar must include one each of the promotional items discussed in class: 
• Coupon 
• Premium Deal 
• Incentive 
• Product Sample 
• Sponsorship
• Promotional Tie-in/ Cross Promotion 
• Product Placement 
• Loyalty Program 
• Point-of-Purchase Display

• Be sure to include a title for your calendar
• Create and print your calendar as a 4x3 grid in landscape orientation (one box per month)

Spring Promotion

Your task is to create a Spring-themed promotion for your business.  Choose from one of the six types of promotions in the promotional mix:

1. Personal Selling
• Create a script for your salespeople
• Describe when and how salespeople will use the script to increase sales
2. Advertisement
• Use a Word template, Powerpoint or other publishing/ art application to create a spring-themed advertisement for your business
3. Direct Marketing
• Create a direct marketing mailer (newsletter, flyer, etc.)
• Describe which target market will receive the mailing
4. Sales Promotion
• Create a sales promotion for your product(s)
• Describe how you will notify and inform customers about your sales promotion
• Explain how it works and why your sales promotion will be effective in increasing sales
5. Public Relations
• Write a one-page press release for some charity work your business has done recently
• Explain how your business is committed to the particular cause
• OR- Write a one-page product review and then describe what magazine or publication it would be shown in
6. Viral Marketing
• Create a storyboard for a viral video
• What is the goal of your video? (EG to create brand awareness, enhance image, increase sales, etc.)
• Describe the steps that you would take to release your video and to ensure that it goes viral

Remember: This is a SPRING-themed promotion!

Feature-Benefit Chart

1.    You will create at least five separate feature-benefit charts.  You can do more than five products.  Each chart should pertain to a distinct product within your business
2.    For each product, list at least three features and their associated benefits.  For all of your products you should have at least 40 feature-benefit pairs.
3.    Use the “Quick Tables” tab in Word to select a professional looking table for your report.
4.    Be sure to label each table with the name of the product and to label the respective “Feature” and “Benefit” columns.

Note: The number of feature-benefit pairs for each chart can differ.  However, you must have five separate charts, each chart must have three feature-benefit pairs and the total number of feature-benefit pairs must be at least forty.

Organizational Chart

You will create an Organizational Chart for your company.

• Using Word, insert Smart Art Graphics (there is a little icon on the top left that allows you to add boxes). Use hierarchy format.  (Using Word is suggested but not required.)
• For each box (job position), give a list of job functions and duties. This can be done below your chart if it is easier.
• Include at least eight positions with short descriptions.  If you decide that your business model does not support this many positions, write a detailed one-page description for each position in your company.
• After completing your chart, write a paragraph or two explaining whether your organization is "Vertical" or "Horizontal" and why specific features of either structure are best-suited to your business.

Customer Complaint Response (Effective Communication)

Here's the scenario:

You have received a complaint from a customer that was treated poorly by a member of your business’ customer service staff.  She wasn’t very specific as to what the problem was but it sounds serious enough to jeopardize losing her as a customer.  You must write a response to her complaint. (Be creative and envision an actual complaint that somebody might have that is specific to your type of business.  It's up to you whether it's a small or large complaint.)

In your response letter:

• Format your response like a real business letter.  Search online for an acceptable format or use one of the templates provided in Microsoft Word.  
• Address your letter to Barbara McBride. Her address is 2200 Hamilton Street, Apt. 4, Philadelphia, PA 19123.
• Use a three-part professional style with appropriate tone and language to explain how the situation will be resolved, what actions will be taken to prevent it from happening in the future and if (and how) the customer will be compensated for the poor treatment. 

SWOT Analysis

You will create a SWOT analysis for your business.

• Use Word to create a 2x2 table  

Remember:

• Strengths and Weaknesses are internal factors that affect your business. 
• Opportunities and Threats are external factors that affect your business.

Review your text book or personal SWOT analysis for appropriate factors to include for each.  You should have at least 4-6 factors for each box.

Outside of your SWOT analysis, summarize your findings.  What are the key factors that your business must capitalize on?  What factors must your business alter or avoid to be successful?

Type of Business

1. Using the web, your notes and textbook, research and write the definition for these types of business structures:

• Sole Proprietorship 
• Partnership 
• Corporation
• LLC

2.  Decide which structure would best fit your business. Then write one paragraph explaining the reasons why you feel that it is the best structure for your business.

3. On the web, research how to set up a business.  Then create two separate bulleted lists with at least a complete sentence for each bullet explaining:

• The legal steps involved in starting a business (about 5)
• The key steps necessary for creating a successful business (about 10)

Social Responsibility & Ethics

1. List 4 socially responsible aspects of your business as they pertain to the workplace, marketplace, community and/or environment.
2. Describe an ethical dilemma that you might encounter in the operation of your business.  How will you respond?
3. Describe a Green Marketing initiative your business will undertake.

International Business

1. Select a foreign country that your business might conduct business in. (Not USA or Canada)
2. Research your country and conduct an environmental scan. You should include:

Political factors
Laws/ Regulatory factors
Economic factors
Socio-cultural factors
Technological factors

1. International business can take the forms of importing/exporting, licensing, contract manufacturing or direct investment.  What level of commitment is most appropriate for your business?
2. Assuming that you decide to offer your product in this country, what marketing strategy makes the most sense? (Globalization, Adaptation, Customization)

Non-Price Competition

Describe in detail at least 10 non-price competitive aspects of your business. (Remember, non-price competitive factors include quality of a product, service, financing, added features or benefits… to name a few)

Describe 2 ways your business will compete on price. OR, explain why your business will NOT compete on price.

Note: This is a very important piece of your business plan. This is where you explain what will make your business better/ different/ special/ unique. The non-price competitive aspects of your business are the little things that set your business apart. How will you differentiate your product/ business from your competitor? Why will customers choose your product over a competitors? Research your competitors to see what they do.

Economic Utilities & Company Name

Company Name

• The name of a business is very important- not only because it identifies the business but also because it tells customers so much about what the business is and what they can expect.  Review at least two resources (websites, articles, etc.) on business names before settling on your business name.  After choosing your business' name, write a brief paragraph explaining why you chose it and what information you believe the name will convey to your customers.

Economic Utilities

• Recall the five economic utilities.  Of those five, which do you see as being most important to your business and its success?  Explain why.
• Then in two or three sentences each, explain how the other utilities relate to your business. The five utilities are:
• Form Utility
• Time Utility
• Place Utility
• Information Utility
• Possession Utility

Industry

• What INDUSTRY is your business in?
• Research online to find a specific industry category that your business would fall into.
• What competitors does your business have?
• Local Competitors
• National/ Global Competitors
• How do key competitors compare to your business? Discuss their similarities and differences.
• How is your industry composed?
• In other words, is the industry controlled by many small competitors or a few large ones?
• How does the composition affect your business?
• How large is your industry's market?
• In other words what are the total sales for all of your competitors?
• This will require some creative research and educated best-guessing.
• Come up with a dollar amount. Is it in the millions? Billions?
• Explain how you arrived at your answer.

Business Concept

Create a one-page document explaining your business idea.   Think about your interests, passions, and how you could turn these into a successful business. 

Include the following:

    a. Explain why you are choosing this business.

    b. Briefly describe the business and its purpose.

    c. What types of products will you sell?

    d. Where will the business be located?

    e. Do you think there is a need (a market) for this type of business? Why or why not?

Index and Other Information

About The Purple Cow Marketing Business Plan

About The Purple Cow Marketing Business Plan:

The Purple Cow Marketing Business Plan is a project-based learning initiative originally created by Marcee Laudick for her Marketing classes at Grand Ledge High School.  The business plan allows students to learn, practice and reinforce marketing and economic concepts by completing assignments that build on and develop a business idea of their own creation.  The business plan is designed as a weekly project that has multiple interchangeable parts that can serve as a capstone to the week's lessons and learning goals.

The "Purple Cow" theme comes from the book of the same name by Seth Godin.  In the book, a Purple Cow represents a unique, new idea or product.  Godin explains that in today's marketplace, consumers' attention is spread so thin that it takes something truly out of the ordinary (like a Purple Cow) to gain customers by capturing some of that attention.  Before beginning the project, students are introduced to this concept and encouraged to come up with a Purple Cow of their own.