Exam 18: Appendix A: Guidelines for the Development of the Business Plan

When preparing a business plan, one of the operational issues you need to resolve is determining how many personnel are needed and what their required education and skills should be.

Isabel has developed a new line of makeup. She has evaluated the pricing of makeup currently on the market and determined that selling her makeup slightly below market price will help her make more sales. She also decided it would be easier to promote and sell her makeup online and via home makeup parties. Her tagline on her website highlights that her makeup is made using natural ingredients, it is hypoallergenic, and it can be customized for specific customer needs. Since she is an individual creating these products, she is the only makeup provider who allows customers to request custom colors. Which part of the final written business plan does this scenario best describe?

When preparing a business plan, you are encouraged to submit your idea for approval to your instructor as soon as possible.

Glen has worked in the publishing industry for many years, and now, he wants to start his own independent trade publishing company. Which of the following describes something he would do when preparing his industry and market analysis?

Briefly discuss the elements of a business proposal.

Which component of the brief marketing plan should be included in the business proposal?

Which scenario best describes the competitive analysis part of the final written business plan?

When preparing a business plan, one of the decisions you will need to make regarding the marketing strategy is the type of product you want to offer.