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The first five components of a business plan provide an overview of the business opportunity and market research to support it. The remaining five components of the plan focus mainly on strategy, primarily the marketing Cheap Air Max 270 , operational, financial and management strategies that that firm will employ. This article details these elements.
Marketing Plan. The marketing plan details your strategy for penetrating the target markets. Key components include the following:
A description of the company聮s desired strategic positioning;Detailed descriptions of the company聮s product and service offerings and potential product extensions;
Descriptions of the company聮s desired image and branding strategy;Descriptions of the company聮s promotional strategiesAn overview of the company聮s pricing strategiesA description of current and potential strategic marketing partnerships alliances
OperationsDesign and Development Plans. These sections detail the internal strategies for building the venture from concept to reality, and include answers to the following questions:
What functions will be required to run the business?What milestones must be reached before the venture can be launched?How will quality be controlled?
Management Team. The Management Team section demonstrates that the company has the required human resources to be successful. The business plan must answer questions including:
Who are the key management personnel and what are their backgrounds? What management additions will be required to make the business a success?Who are the other investors andor shareholders Cheap Air Max 90 , if any?Who comprises the Board of Directors andor Board of Advisors?Who are the professional advisors (e.g., lawyer, accounting firm)?
Financial Plan. The Financial Plan involves the development of the company聮s revenue and profitability model. It includes detailed explanations of the key assumptions used in building the model Cheap Nike Air Max Shoes , sensitivity analysis on key revenue and cost variables, and description of comparable valuations for existing companies with similar business models.
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