Free Sample: Technology-Based Business Idea Blueprint Format paper example for writing essay

Technology-Based Business Idea Blueprint Format - Essay Example

Blueprint research helps you make informed decisions and create a successful direction for your blueprint. Gather information sources Record relevant information Analyze the information you have gathered and note the associated opportunities and risks If you are going to submit the blueprint to investors, research what types of investment opportunities are available to you, why you need investment (banks, government, private equity investors, etc. ) The executive summary is usually short and concise.

The summary articulates what the opportunity conditions are and why they exist, who will execute the opportunity and why they are capable of doing so, how the company will gain entry and market integration; it answers the questions: “for what reason does this venture exist and for whom? ” Essentially, the executive summary needs to reflect the criteria presented in the Business Opportunity Analysis Exercises. This is your chance to clearly articulate how your business is durable and timely, and how it will create or add value to the end user.

Discuss who the customers for the product or service are or will be. Potential customers need to be classified by relatively homogeneous groups having common, identifiable characteristics (e. G. , by major market segment). B. Show who and where the major purchasers for the product or service are in the market segment. Include national regions and foreign countries, as appropriate. C. Indicate whether customers are easily reached and receptive, how customers buy (wholesale, through manufacturers’ representative, etc. ). 4. 2. Market Size and Trends a.

Show for three years the size of the current total market and the share you will have, by market segment, and/or region, and/or country for the product or service you will offer, in units, ringing, and potential profitability. B. Describe also the potential annual growth for at least three years of total market for your product or service for each major customer group, region or country, as appropriate. C. Discuss the major factors affecting the market growth (e. G. Industry trends, socio- economic trends, government policy, and population shifts). 4. 3. Competition and Competitive Edges .

Make a realistic assessment of the strengths and weaknesses of competitors. Competitors Strengths Weaknesses b. Compare competing and substitute products or services on the basis of market share, quality, price, performance, delivery, timing, service warranties, and other pertinent features. C. Compare the fundamental value that is added or created by your product or service, in terms of economic benefits to the customer and to your competitors. D. Discuss the current advantages and disadvantages of these products or services and say why they are not meeting customers’ needs. 4. 4. Estimated Market Share and Sales a.

Based on your assessment of the advantages of your product or service, the market size and trends, customers, competitors and their products, estimate the share of the market and the sales in units and ringing that you will acquire in each of the next three years. Remember to show assumptions used. Product/service Market Share and Sales Year Market share (%) Total sales in units Total sales in ARM 4. 5. Marketing Strategy a. Overall marketing strategy. Describe the specific marketing philosophy and strategy of the company, given the value chain and channel of distribution in the argue market.

Include, for example, a discussion of the types of customer groups that you are targeting for initial intensive selling effort those that you are targeting for later selling efforts. B. Pricing. Discuss the pricing strategy, including the prices to be charged for your product and service, and compare your pricing policy with those of your major competitors. C. Sales tactics. Describe the method (e. G. , own sales force, sales representatives, direct mail, or distributors) that will be used to make sales and distribute the product or service. D. Service and warranty policy.

If your company will offer product that will require service, warranties, or training, indicate the importance of these to customers’ purchasing decisions and discuss your method of handling service problems; also, highlight the kind and term of any warranties to be offered, whether service will be handled by company service people, agencies, dealers and distributors, or return to the factory. E. Advertising and promotion. Describe the approaches the company will use to bring its product or service to the attention of prospective buyers. F. Distribution. Describe the methods and channels of distribution you will employ.