BUS 100 Start Up Project

Assignment #1

Identify a new product or service you would like to launch as a start-up company, and define the industry & market in which you’ll compete. Be sure to address all of the following points. Note: outline must be followed exactly to receive full credit.

1b: Industry and market description:
i. Identify the industry in which your company will compete
ii. Define the geography where you will distribute your product; i.e. local, regional, national, global, etc.
iii. Define the size of your market in dollars. If you have to estimate this, be sure to site your logic and sources.
iv. Provide a summary of 2-3 relevant competitors addressing:company name, HQ, annual revenues, product offering, market share or brand position. If there are no direct competitors then list other “benchmark” companies.
v. Identify the market niche that your company will fulfill; i.e. “In this industry there appears to be an opportunity in …”

Industry information:

IBISworld: http://www.usfca.edu/Library/databases/IBISWorld/
Great information on 700 US Industries in the US economy. Each Industry Report includes overviews, data and statistics, market share, competitive landscape, major companies, outlooks and more! Very helpful sections of each report for your assignment: Industry Performance, Industry Outlook, Products & Markets, Key Statistics.

NetAdvantage: http://www.usfca.edu/Library/databases/NetAdvantage/
Contains Industry Surveys, overviews of the current state, trends and prospects for about 35 U.S. industries. Includes statistics for revenue, income and profitability.

Passport GMID: http://www.usfca.edu/library/passportgmid/
Excellent for country, industry, and consumer statistics and research. Search consumer leisure and lifestyles, attitudes, and other information, as well as industry surveys and statistics. Use the Industries search for this assignment.

Company Competitor Information:

OneSource: http://www.usfca.edu/library/onesource/ Provides company profiles with financial information, analysts' reports, news, and more. Includes public companies worldwide.

Lexis Nexis Academic: http://www.usfca.edu/Library/databases/LexisNexis_Academic/  Use Search Company Info to search for company reports that include financials, news, analysts' reports, and other company information.

Nonprofit Competitor Information:

GuideStar: http://www.guidestar.org/ Use GuideStar to find reports and financial information on nonprofit organizations. Use the quick search in the middle of the home page, or register for free for additional information.

Articles, industry reports, and news:

Business Source Premier: http://www.usfca.edu/Library/databases/Business_Source_Premier/
Offers full-text articles for more than 2150 titles including the Harvard Business Review. Also provides country reports, company profiles, industry reports, market research reports, and SWOT analyses. 

ABI/Inform Complete: http://usfca.edu/library/abiinform/
Primarily an article database, but also contains a selection of industry reports. To find them, type in your industry name (hospitality, pharmaceutical, etc.) and in the next search box type in a country name if desired. Once you have a result list, click on the tab marked "Reference/Reports" at the top of the results list to see any available industry reports.

Assignment #2

Choose a name and define the structure and location for your new company. Be sure to address all of the following points. Note: Outline must be followed exactly to receive full credit.

2a: Name
i. Create a name for your new start-up

Search by county to view fictitious business names issued.Here is a web site with a listing for where to search in most California counties:

http://www.coordinatedlegal.com/fbn.html

Here is the direct link for San Francisco County:  http://www.criis.com/cgi-bin/fbn_search.cgi?COUNTY=sanfrancisco&YEARSEGMENT=current&TAB=1 


2b: Company structure:
i. Select a structure for your business; sole proprietorship, partnership, LLC or corporation along with the rationale for your choice

Hint: refer to Table 6.7 on p.179 of your text


Use class notes and text books for this section

2c: Company location
i. Specify your HQ location and rationale
ii. If relevant, describe where you will source supplies and/or where your product will be assembled/manufactured
iii. Specify your sales region

Where will your new company sell its products?
Note: You may consider an initial market, followed by larger expansion plans. Will your start-up have bricks & mortar retail locations, virtual/on-line presence, etc.?


Use class notes and text books for this section

Assignment #3

Craft a mission statement and prepare at least one S.M.A.R.T. goal for your start-up. Be sure to address all of the following points. Note: Outline must be followed exactly to receive full credit.


3a: Mission statement
i. Research and list 2-3 relevant mission statements of other companies

Hint: leverage competitors cited in assignment #1b

ii. Craft a unique mission statement for your start-up incorporating your company’s purpose, basic goals and philosophies

Use class notes and text books for this section

Also, search for books in the library to give you ideas on how to create a mission statement. Here's how:

Go to the library home page: http://www.usfca.edu/library
Click on the Catalog button and put in the words: mission statements
Take a look at the books that our library has to guide you on this topic!


Use Google to search for web sites to help with mission statement writing and examples. 

Reading the mission statements of other companies can give you ideas about how to write yours. Most company home pages have some information about the company itself. Look for links like Investor Relations, Annual Reports, or even  FAQs. These are places where you might find a company's mission statement. Sometimes links on company web sites called About Us, or About our Company, are also good places to look for mission statements.

3b: SMART goals: Use Google for ideas:
i. Craft at least one SMART goal for your new company that will guide your marketing efforts; remember to make each goal Specific, Measurable, Attainable, Realistic and Timely

Hint: Google “SMART goals” for relevant examples and assistance


One web site that can help:

SMART Goals: http://mystrategicplan.com/resources/smart-goal-setting-examples/ 
A web site with tips and examples for how to create realistic, achievable goals for your company

Assignment #4

Define an initial marketing strategy for your new company including your (a) target market and (b) marketing mix. You are only expected to prepare your initial thoughts for 4a and 4b. You will have an opportunity to expand your work further in assignment #5. Note: Outline must be followed exactly to receive full credit.

4a: Target market definition (consumer information):

i. Define your target market; geographics, demographics, psychographics
ii. Quantify the size of your target
iii. Bring your target to life via a visual montage; this can be a literal or figurative picture of your ideal customer
iv. Confirm your target definition with primary and/or secondary resources; be sure to site your sources

Web Sites:

San Francisco data! American FactFinder:

http://factfinder2.census.gov/faces/nav/jsf/pages/index.xhtml
The database Includes demographic information on income, employment, households, gender, age, ethnicity, education, and much more. Data is arranged by nation, region, state, county, city, and more.

To find San Francisco demographic data:

• Choose Topics: Click on People for age, income, gender, etc.
• Then choose Geographies: Type San Francisco into the search box, select SF City or SF County, and click on the ADD button. Close that window.
• You will have a list of data sets for San Francisco that include age, income, and whatever other topics you set up. 

A short video about how to find San Francisco data is in American FactFinder is here

To find zip code demographic data (not as much data as the SF search, but more focused):

• Click on the link to the right of the screen that says: Find Census data by entering a street address.
• On the next pop up screen, type an address for a place that is in the neighborhood you are researching
• Click Submit, and get a list of data sets. Choose the zip code one.
• Close that window, see list of data sets on main screen.

This company develops geographic information systems (GIS) for many industries, including those that benefit from demographic data. On their site, they provide some of this data for free. Go to this link to access the free data. Highlights are: Demographic Maps, and Lifestyles-Esri Tapestry Segment, where you can type in a zip code and see what types of consumers are in your chosen area. To see this information graphically, you have to download Microsoft Silverlight, but if you don't want to do that, click on the link to see the information in paragraph form. The consumer segments have descriptive names created by Esri, such as Main Street USA, and Laptops and Lattes. Mouse over the chart in the center of the screen to see the characteristics for each of the 65 segments.

San Francisco Data! Nielsen PRIZM: My Best Segments 

Similar to Esri, this web site groups consumers into general categories, with brief descriptions and demographic information. Use the Zip Code Look-Up to get information about consumers in a particular area in both descriptions and graphs. There are three categories of information for consumers; PRIZM, P$YCLE, which describes the financial status of consumers, and ConneXions, which describes the level of technology use and connectivity of consumers. Use Segment Explorer to view descriptions of all of the consumer segments on the web site. Use the links on the left side of the screen to search for consumer groups by age, income, and other categories.

San Francisco data! Sustainable Communities Index:

Consumer data by San Francisco neighborhood. Some data are from Census 2000 or from 200, other data is more current. Categories of data are health-related, but have broader implications, like access to fresh food, bicycle paths, green space, etc.

Passport GMID:
http://www.usfca.edu/library/passportgmid/
Excellent for country, industry, and consumer statistics and market research. Search leisure and lifestyles, foodservice, beverages, travel and tourism, and more.
You always have to accept their terms of use, every time you use this database!
To find US consumer information: Click on Countries and Consumers in the black bar at the top of the screen. Select Consumer Trends and Lifestyles. On the next screen, on the left side, use the pull down menu "Consumer Lifestyles" to select United States in the alphabetical list. Click Go to get to the report.


Table Base: http://www.usfca.edu/Library/databases/TableBase/
Used for finding statistical information on companies, industries, products, countries, markets, and more!


4b. Marketing mix
(Hint: start by restating your SMART goals that will guide your marketing mix elements below)

i. Product (or service)

Describe your product; core, actual, augmented
How does your product uniquely fill your target’s needs?
Hint: think in terms of consumer benefits and utilities. How is your product different from competition?

ii. Price

Articulate a pricing objective; e.g. maximize profits, achieve market share, etc.
Define your pricing strategy and provide rationale for how your strategy will support your SMART goals
Example: a prestige pricing strategy will support a new line of luxury goods, or a penetration pricing strategy will help generate awareness and trial of a new product, etc.

iii. Promotion

Create one complete element of your promotional mix
This may include advertising (print, broadcast, web, social media, etc.), public relations, personal selling materials (e.g. brochures) or promotions (e.g. events, sweepstakes, etc.) Note: the materials you hand in may be augmented by a PDF, screen capture or web link if applicable
Write a tag line to be incorporated in your promotional efforts
Provide rationale for your recommendations
Hint: see Table 14.2 on p.405 and Table 14.3 on p.416 in your text as well as on-line sites such as www.guerillamarketing.com as a starting point
How does your promotional execution support the other elements of your marketing mix and/or SMART goal?

iv. Place (or Distribution)

Create a visual diagram of how your product will get into the hands of your final customer
You can start with the initial sourcing and manufacturing process if applicable
Be sure to consider elements such as wholesalers, retailers, franchises, sales force, etc.


Use class notes and text books for this section, also, search using Google for the following:

• Professional associations (San Francisco Municipal Transportation Agency, American Institute of Architects, etc.)
• Web sites for companies within your industry
• Some articles, fact sheets, statistics
• Pricing, logos, images