Elements of Marketing as it Applies to Entrepreneurship

Final Project: You will incorporate Part 1 from Unit 8 into Part 2 and submit it as one document. Next, in 2–3 pages, answer the following bullets. Apply the elements of marketing as it applies to entrepreneurship. Your elevator pitch: a succinct description of your products or services, market, and competitive advantages. Size of opportunity: this is what investors — Venture capitalists (VCs) even more so than “angels” — want to know. To what size can your company potentially grow and what are your plans for future development? Your specific target customers: who they are and the customer needs that your product will meet. The market size: numbers and dollars, past growth, growth forecasts. Is there a market in my community for this kind of business? Will people buy my product or service? The competition: division of market share, how your product compares to theirs, your value proposition in comparison to the competition’s, and barriers to entry. The business model: how you will distribute your product, pricing strategies, how you will reach your customers? Apply the elements of management as it applies to entrepreneurship. Your team: who they are, past successes and experience, and why they are qualified to do the job. The timeline: when you expect to reach key milestones. Who are your suppliers? Apply the elements of finance as it applies to entrepreneurship. Financials: a brief summary of key points from your income statement and balance sheet. Funding: how much you are asking for in this round, how many future rounds are expected, how much you will request during those rounds, and how the funds will be used. The investment opportunity: potential exit strategies and financial return for investors. Directions: Consolidate Part 1 and Part 2 and submit as one document.

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Write your responses in complete sentences; provide specific examples when applicable. Check for correct spelling, grammar, punctuation, mechanics, and usage. Provide citations and references that you use in writing up the responses. Make sure to use the concepts you have learned from the text and answer all the questions thoroughly. Submit your answers to the questions in a double-spaced paper, no less than five pages long, to the Unit 9 Final Dropbox.

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