WEEK 2- Environment and Market Flashcards
Refers to the elements and factors present in a place that affect the profit and operation of a business.
Environment and Market
is a formal written document
containing the goals of a business
business plan
REQUIREMENTS OF SUCCESSFUL BUSINESS
PLAN
a good business plan is
anchored on being
realistic.
Realistic
a good business plan
knows its specific
market
Target Market
every business plan has a pricing
strategy.
Pricing Strategy
this refers to the way you will inform the market about your product.
Communication Strategy
in this plan strategy, you must describe how your product will be sold.
Sales Strategy
you must be able to defend how you arrived at the specific amount of capital you proposed.
Funding Requirements
the purpose of the this forecast is to show whether your business is growing or not.
Financial Forecast
is also a very important factor in boosting
business profit.
good location
strong points
Strengths
challenges
Weaknesses
things that may benefit the business
Opportunities
things that may harm the business
Threats
