LOVELY PROFESSIONAL UNIVERSITY

ACADEMIC TASK NO. 2

School of: Business Faculty of: Management

Name of the faculty Neeraj Bhanot
mentor:
Course Code: MGN 608 Course Title: WORKSHOP ON
ENTREPRENEURSHIP AND
BUSINESS PLAN
Class: MBA Term: S
Section: Q2E04, Batch: 2018,2015
Q2E06,Q2E16,Q2E1
7
Max. Marks: 30 Date of Allotment: 20/2/2020
Date of Submission:

S.No Objectives of Academic Activity Topic Details Evaluation

Parameters

1. To enable the students, develop a Students will prepare and
marketing plan and Operations plan for present PPT on Legalities,
the new venture. Form of ownership,
Marketing plan and
Operations Plan of selected
business Idea.
Evaluation will be
done as per Rubrics
(Discussed with
students)

Students are advised to follow undermentioned schema:

Marketing Plan (10 marks)

1. Situation analysis
a) Aggregate market factors (Collect secondary data from trustworthy sources)
 Category/Market size
 Category/Market growth
 Stage in the product life cycle
 Sales cyclicity (If applicable)
 Seasonality (If applicable)
b) Competitors’ analysis (Students are advised to make product-feature matrix, which can even
be extended to services. Example in Table-1)
Table-1: Product feature matrix sample
Feature Your Competitor-1 Competitor2
Company/Product Company/Product Company/Product
Feature 1 Y Y Y
Feature 2 Y Y N
Feature 3 Y N N

c) Customer analysis: Logically answer undermentioned questions:

 Who buys and uses the product?
 What customers buy and how do they use it?
 Where customers buy?
 When do they buy?
 How do they choose?
 Why do they prefer a product?
 How do they respond to marketing programs?
 Will they buy it again?
2. Marketing Objectives (Use principle of SMART objectives)
3. Marketing Mix (Detailed view on Product (detailed product portfolio), Price (pricing strategy
& why), Place (distribution strategy & why), Promotion (Student shall design advertising
campaigns for each media used including online advertising). Additional elements of People,
Process & Physical evidence to be discussed in case of services.
4. Marketing strategy (STP) (Clear market segments, Targets chosen (logic behind targeting a
particular segment e.g. Market size of a particular segment with your distinguished ability to
serve better than competitor) and a clear 1-2 line positioning statement to be brought out)
5. Marketing Budget

Operations Plan (6 Marks)

1. Clear objectives of Operations Plan
2. Activities to be delivered (Detailed activities involved in value creation. Students are
advised to arrange each activity involved in value creation sequentially. Value Chain
Analysis can be used to take reference of broader activities which than must be broken to
small but specific activities) Note: Service oriented businesses shall prepare a service
blue print.
3. Plant layout
4. Quality standards (Standard requirements as set in industry if applicable or one’s own
quality standards)
5. Desired outcomes
6. Staffing and resource requirements (Activity wise staff and resources. Students can make a
table like:
Activity Staff (Numbers + Resources required
positions)

Procurement
 Note: Staff and resources shall be linked with activities
7. Implementation timetables (Tentative timelines for activities; individual or set of
activities)
8. A process for monitoring progress (Supervision for quality control)

Legal compliance and Ownership (4 marks: 2+2)

 Type of ownership (Sole proprietorship, Partnership, LLC etc & justification for
choosing a particular type pf ownership. In each case group shall be well versed with the
technicalities and shall bring detailed documents along)
 Legal compliances (Use ‘Government of India’s’ websites and portals for understanding
legalities of starting ventures in India)