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Task 2: Student should develop a business plan for any innovative business idea with the following components (Initial investment should be between 10,000 R.O. - 40,000 R.O. only): (75 Marks) 1. Product/Service/ Business description (5 marks) . Discuss the features and benefits. Description of the online business. 2. Customers (5 marks) Demographic characteristics The needs of the customers 3. Competitors' Profile (mention at least two competitors) (5 marks) 4. Marketing plan (15 marks) Target market - Information on the target market with regards to demographic profile Pricing decisions Promotions: The types of promotions strategies to be used and the "Budget' allotted to these strategies. 5. Operations and Logistics plan (15 marks) Technology Equipment, assets, and materials Legal requirements Insurance requirements (15 marks) Describe the type of structure you'd use Describe the kinds (functional skills) and number of people you'd need Draw organizational structure of the company MEC AMO TEM_035_04 Page 25 Entrepreneurship and New Venture Creation (BUSS 20008)-Spring-2022-CW3 (ASSMNT) -ALL-QP 7. The Major Financial Projections (15 marks) Income Statement Balance Sheet Cash-Flow Statement 6. HR plan and Organisation Structure