ASSIGNMENTS & HOMEWORK

1. Distribution tracking assignment
Due Monday,  Feb. 11

PROJECT TASKS

 1. a.) Once again, state your business idea as conceived as of now,
     b.) then identify the appropriate NAICS and SIC codes. Get the formal definitions.
     c.) Find appropriate trade associations (name AND URL).
Put information in a document to be turned in.
DUE: Friday, Feb. 1

2. You have a tentative idea (target group and positioning), NAICS/SIC codes, and trade associations. Next step: Get familiar with the industry.
     a.) Get basic data about the most appropriate NAICS code from either the 2007 or the 2012 Economic Census.
     b.) Find material from trade associations that will help you gauge the attractiveness of the industry - forecasts, crucial issues, ratios, trends, etc.
     c.) Put the material in an appropriate format -- have a relevant write-up in your own words, and have material that would be appropriate in a business plan appendix. Start a REFERENCES bibliography.
DUE: Wednesday, Feb. 13

3. a.) Develop a tentative mission statement that identifies the needs/wants of (general) target markets that you are focusing on, and the general technologies or approaches that you will use.

b.)  Identify specific, specified potential sources for your business: Names, addresses, URLs, etc. Get supporting documents. Basically, you need to furnish the answer to the question "Where are you going to get your
products?"  If you already have products, state this, and identify additional sources of supply.  Write up your results in a form that would be appropriate for a business plan (some material, such as promotional brochures, copies of web pages, etc., would normally belong in an appendix). DUE: Monday, March 4.

4. Your choice: 1) Either examine firms that are competitors, and/or firms that are targeting your target group that may become collaborators, to assess their weaknesses and strengths (if potential collaborators, try to establish a contact); 2) examine firms that are targeting your target group with the same or similar products, and evaluate their strengths and weaknesses (idea is to search for good ideas). Take notes and pictures (if allowed and appropriate), and submit. You may use bullet points or lists, but be clear. DUE DATE: Wednesday, March 20. 

5. Use Community Analyst to find some potential trading areas for your type of business. Generate material that identifies a couple of potentially choice areas for your business. Summarize your key findings, being sure to tell the reader why the criteria you chose was appropriate. As with other assignments, write it as you would for a business plan, where there may be material that belongs in an appendix.  NOTE: In order to do a good job you need to know the characteristics of your target group, and you need to come up with criteria to use in judging different potential trading areas.   DUE: next Monday, March 25.

6. Find appropriate financial ratios for your type of business, and prepare a pro forma balance sheet and income statement for a business of the appropriate size. Look for other appropriate ratios/data that will help you estimate an appropriate sales level. If you can't find anything, assume sales of $10,000,000/year. DUE DATE: See 6b.!

6b. Develop a professional-looking balance sheet based on EITHER industry or other ratios OR through thinking things through and putting items together. If you are thinking things through, you might focus on either an opening day balance sheet or the balance sheet at a particular point in time (e.g., end of year 1) (make clear your assumptions, such as 'Honking Digital Screen Press at retail prices). .ALSO, put together a professional-looking income statement, again using either industry or other ratios OR by thinking things through (if you do this clearly state your assumptions). If you are following the 'thinking things through' approach, if, instead of preparing an income statement you can prepare a monthly cash flow statement for the first 12 months (I will accept quarterly cash flow statements). DEADLINE: April 8, Monday, at 5 pm.

7. Answer the question: How are you going to set prices? Be as specific as possible. Write it as you would in a business plan. Indicate how pricing is going to fit with your target group and positioning (value proposition), and how this will impact your pricing on individual items (over time, if appropriate).  DUE: April 15.

8.State your target group and positioning, and discuss the retail image you want to portray, and how you intend to accomplish this. Consider the store atmosphere/physical facilities, the shopping experience, and how you will employ elements of the communications mix (aka promotion tools): Advertising, sales promotion, personal selling, publicity, and direct marketing.
DUE: With project -- April 24. We will discuss this April 22. 

FINAL PAPER: Put the information you've collected over the semester in a written document. Do NOT hesitate to collect additional useful information, and edit the document so it is readable. Write the document as you would if you were going to submit it to sources of financing - be professional - Have a title page, with the tentative name of the company and with your names and dates on the title page. A rough, tentative outline is provided below. You are free to change it to fit your situation, and to add or drop, or rename, sections. Basically you want to indicate what you intend to do, and why, and to identify the key success factors and risks. You are telling a story. 

FINAL FINAL ASSIGNMENT: Come up with a slogan or jingle for your company. Class will vote on which one is best.