Developing a market plan

Developing a market plan

The market plan should be based on the sparkling clean business plan paper.
Link to library: https://martincc.libguides.com/library
Textbook: Small Business Management 19th edition or as close as you can get

Section 2 Business Plan Section VI of the Business Plan

 

APA Writing Style Requirements

All writing in this course requires APA writing format and style.  There is a link in your Moodle course under the “Start Here” menu item that takes to you to APA examples of in-text citations and a works cited page.

For all my courses, there are two very simple and easy ways to cite in the body of your document.  You must cite your work whether you are directly quoting or if you are paraphrasing (paraphrasing means – to interpret the meaning of what is written by someone else by using your own words or rewording something written by someone else).

An example of an in-text citation of a direct quote is:

“Skip Wilson donated $10,000 to support his favorite cause, the American Cancer Society,” (Johnson, 2015, para 3).  The information in parenthesis is the author, the year the article was written, and the paragraph number the quotation was in of an online article.  Notice the period is after the closing parenthesis of the citation.

An example of an in-text citation of a paraphrase is:

The American Cancer Society received a donation of $10,000 from Skip Wilson (Johnson, 2015).  You will notice that there are no quotation marks around this sentence.  The information in the parenthesis is the author and the year the article was written.  Notice the period is after the closing parenthesis of the citation.

An example of a citation in the works cited page is:

Johnson, D. (2015). Journal of the American Cancer Society, 30, 100-105. Retrieved January 5,

2020, from http://www.americancancersociety.com

The information contained in the works cited page citation is:

author, year article was written, name of journal, journal volume number, pages of article within the journal, the date the article was retrieved, and the URL.

It is as simple as that.  Do not try to complicate it; just follow these examples, and I guarantee you will earn better grades on your papers.

Writing Requirements for Assignments

Plagiarism is unacceptable and is described as “the act of using another person’s words or ideas without giving credit to that person” (Merriam-Webster, n.d.).  Martin Community College takes a firm stance against plagiarism, and therefore, all sources that you use to complete your work must be acknowledged through in-text citations and a works cited list.

Follow the APA Guidelines – resources and examples can be found by accessing the link in the Moodle course under the “Start Here” menu item

All assignments (unless otherwise specified) must be typed in a word document and attached in Moodle.  Word documents must:

• Use Times New Roman Font
• Use Type Size 12
• Black ink only
• Do not underline anywhere in your paper
• Do not bold anywhere in your paper
• Use one-inch margins (top, bottom, right, and left)
• Double space
• Indent paragraphs
• Number your pages (if more than one page of text)
• Papers must be grammar, spelling, and formatting error free (use spell/grammar check and proofread your document for missing and/or misused words)
• A cover page, in-text citations, and a separate works cited page are required for work that is more than one page (a cover page and a separate works cited page are exempt for assignments that are less than one page; however, you must use in-text citations and cite your work at the bottom of the page)
• Cover Page:  use the Sideline Cover Page from Microsoft Office (from the Microsoft ribbon, click on Insert, click on Cover Page, click on Sideline).  There is a sample of the Sideline Cover Page in your Moodle course under the “Start Here” menu; all typing on the cover page is Times New Roman 12, Black Ink

• This is a formal document. Do not use terms such as:  I think, I believe, In my opinion (this written work is based on researched facts, not what you think about something or your opinion about it).  DO NOT REFER TO YOURSELF IN ANY WAY WHEN YOU ARE WRITING PAPERS FOR THIS COURSE.  For example, where you want to type, I think, replace it with something like:  Perhaps this suggests….; Research suggests…; or This may indicate…—using terms such as these allows you to analyze information without inserting your opinion.  Remember to use in-text citations and include a works cited page.

Wikipedia and Blogs are not reliable or acceptable sources for college research papers.  Wikipedia is a site that can be changed by anyone, and Blogs are just someone’s opinion, so you have no way of knowing what is truthful and what is fabricated.

Merriam-Webster, (n.d.). Retrieved May 7, 2014, from http://www.merriam-webster.com/dictionary/plagiarism

 

Use MCC library resources to conduct your research.

All sources used must be cited in-text and in a works cited page following APA guidelines.

WRITING TIPS

1. Do not use contractions – for example, use: are not instead of aren’t

 

2. Spell out numbers under 10 – for example, use: three instead of 3

 

3. Do not use abbreviations for words or numbers – for example, use: second instead of 2^nd

 

4. Do not use symbols – for example, use: percent instead of %

 

5. Do not right justify

 

6. Use spell check

 

7. Read for content and words that are spelled correctly but misused in the sentence

 

8. Look for sentences that begin with the following words:

 

if, when, for, by, because, since, due, while, in, after, since, etc.

 

These words usually indicate a dependent clause.  A dependent clause is a group of

words that contain a subject and a verb but do not express a complete thought.

 

For Example:  When I visited my grandmother….

A comma must be used immediately following the dependent clause.  In the above

example, a comma would be placed immediately after the word grandmother, and the

next word would be the beginning of an independent sentence.  Most words used after a

dependent clauses are nouns, pronouns, or articles such as, the

For Example:  When I visited my grandmother, John was surprised.

When I visited my grandmother, we went to the mall.

When I visited my grandmother, the dog jumped on me.

9. State dates as: April 21, 2021, instead of 04/21/21

 

10. When using your textbook as a reference, copy and paste the citation from this syllabus onto your works cited page; it is properly formatted. Works cited are to be in alphabetical order by author’s last name.

 

PLAGIARISM IS UNACCEPTABLE – ALL WRITTEN WORK REQUIRES IN-TEXT CITATIONS AND A WORKS CITED PAGE

 

The purpose of writing a paper is not for you to copy what another has written and list the source; the purpose is for you to demonstrate your understanding of the information and rewrite it in your own words.  Direct quotes should make up no more than 25% of your paper.  Yes, I know there are times when that seems difficult, but it is required to avoid plagiarism, and it takes some practice.  Below is an example of a direct quote with its citation, and below that is a paraphrase of the same direct quote with its citation:

 

“Employees need to be taught how to respond in situations involving ethics. Therefore, many managers enroll their employees in an ethics training program. Ethics programs often involve activities that encourage ethical behavior and reinforce a company’s ethics code/policies” (How Managers Can Encourage Ethical Behavior, n.d., para. 7).

 

To avoid plagiarism, the quote could be reworded, but cited, with something like:

 

Many organizations send their employees through ethics training programs that are designed to promote and reinforce the organization’s ethics policies and to teach employees how to recognize and respond to unethical conduct (How Managers Can Encourage Ethical Behavior, n.d.).

 

STOP—DID YOU THOROUGHLY READ THE APA INSTRUCTIONS, THE WRITING INSTRUCTIONS, AND THE WRITING TIPS BEFORE BEGINNING THIS ASSIGNMENT?

 

All sources used must be cited in-text and in a works cited page following APA guidelines.

 

Tips for writing a good business plan

 

• Keep it simple and focused
• Make it easy to read
• Use understandable language, a layout that is pleasing to the eye, and charts or graphs to

explain difficult concepts

• Be objective
• Review the plan with the critical eye of an outsider who does not know your business and is not committed to the business
• Be honest
• Acknowledge your weaknesses as well as your strengths
• Review and revise the document regularly
• Consider your business plan a “living” document
• Schedule periodic revisions to keep it current

 

To complete the business plan, you will create a business of your own.  Be as creative as you like, but the business is yours and yours alone.

 

1. The market plan –this section of the plan is research driven and work must have in-text citations and a works cited page – due 02/13/2023

 

Your paper must include a cover page, in-text citations, and a works cited list.  The body of your paper must be at least three full pages, so your completed document will be at least five pages:  cover page, three-full pages of text, works cited page.

 

Required:  At least four sources – Textbook, three other reliable sources (Wikipedia and blogs are not reliable sources and may not be used as references).  Reliable sources may be books, printed or Internet articles, research studies or reports, or news reports.  The textbook is not a required source; however, you must have at least four sources.  At least two sources must come from any of the databases in the MCC library; if they are not used, the maximum points earned will be half the value of the assignment.

 

NOTE: See Conducting an Industry Analysis –

 

https://corporatefinanceinstitute.com/resources/knowledge/strategy/industry-analysis-methods/

 

If clicking on the link is unsuccessful, copy and paste the link into your browser

 

(do not copy and paste this list in your document and proceed to respond like you were responding to test questions, write your responses in paragraph form, just be sure to include the requested information – your document responses should not look like a list)

 

1. Description of industry

 

1. Background of industry
2. Current and future industry trends
3. Business fit in industry

 

1. Market

 

1. Customer profile and target market (demographics)
2. Description of trade area
3. Size of your market
4. Market potential
5. Market trends

 

1. Competition

 

1. Direct competition – Businesses with the same product or service and same target

market

 

1. Include three businesses and locations

 

1. Indirect competition – A product that is in a different category altogether, but which is seen as an alternative purchase choice or a substitute. For example, coffee and mineral water are indirect competitors

 

1. Include three businesses and locations

 

1. Evaluation of competition – Size, age, status (for three businesses from C.a.i. above)
2. Your competitive advantage

 

1. Complete a SWOT analysis for your business and the three businesses from C.a.i. above (this may be presented in Chart format)

 

1. Market strategies

 

1. Market positioning
2. Marketing tactics
3. Packaging
4. Pricing
5. Promotion
6. Distribution
7. Advertising
8. Public relations
9. Customer service