Part II of the Business Plan Part II of the business plan is due in week 3. Together with this part, you must show to your instructo that you have implemented the necessary corrections based on the part I feedback. Part II Requirements 1. Stakeholder Analysis a. Actual personal experience, education and training in the area/ industry of proposed business for all key stakeholders 2. Industry Analysis a. A brief overview and long-term outlook for growth b. Review industry size, trends, and target market segment. c. Identify who leads the industry in terms of: i. Price ii. Quality iii. Market share 3. Competitive Analysis
a. Discuss the strengths and weaknesses of each primary competitor.
b. Consider sales, quality, distribution, price, production capabilities, reputation, and products/services.
c. Outline how your product or service measures in the area of pricing and identify your competitive advantage.
d. Prepare a first-year and 3-year sales forecast in dollars and units. e. Briefly outline your sales and advertising plans.
