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.

Tips for IBISWorld: 

• Use a keyword or phrase for your industry to search. Start big: transportation.
• Browse the list of results for useful reports. Click “More Results” to see additional reports.
• Use other keywords for your topic to find additional reports. For example, for a taxi or shuttle service, search the word: taxi, and also try the word: shuttle, to see what other different industry reports come up.

Reminder: If you can’t find your exact industry, think about the larger industry/industries it is a part of, i.e.: After school tutoring, try education; hunger, try food or food services. And use information from related industries too: Information about ice cream might give you some ideas about the market for cupcakes or other sweets.

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.

Tips for Passport GMID industry search:

• Accept user agreement.
• In upper right corner of the screen, search a simple keyword like “snacks.”
• On the next screen, you will get a list of all of the information in this database that mentions snacks.
• Use the menus on the left to choose what you want to look at (i.e. under Geography, select United States, or under By Category, select what area of snacking you are interested in (health and wellness, bakery, etc.))
• Continue using the menus at the left until you get to the report or statistics you want.

Statista: http://www.usfca.edu/library/statista/
A database of statistics and data on industries, companies, market share, consumers, and much, much more. Data is viewable in different graph forms, and there are industry reports for certain industries.

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.

Association for Consumer Research (ACR)
Provides free access to newsletter, papers, and presentations from conferences on consumer research. 

Consumer Expenditure Survey: Bureau of Labor Statistics: US Labor Department
Statistics and reports on what consumers spend their money on (consumer expenditures), unemployment rates, and much more.

Harris Polls Vault: Searchable data from Harris consumer opinion polls from 1963-present.

Marketing Charts: This web site compiles data from other companies about consumers' interactions and habits with media including TV, Internet, social media, direct mail, and more. Data also shows the success of these campaigns, as well as ranking top media for advertising. Scroll down the screen to see charts arranged by most recent date first, search by media category, or do a keyword search for your topic.

Nielsen Newswire: News stories tracking trends in areas such as consumer behavior and media.

Nielsen Consumer Reports: Longer reports on consumer groups, global issues, online and mobile behaviors.

San Francisco Data! Nielsen PRIZM: My Best Segments 

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 2010, 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.

Pew Research Center:
A non-partisan research group that collects and presents data, opinions, and reports on American attitudes, activities, and trends.

Statista: http://www.usfca.edu/library/statista/
A database of statistics and data on industries, companies, market share, consumers, and much, much more. Data is viewable in different graph forms, and there are industry reports for certain industries.

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

Time Use Survey: Bureau of Labor Statistics: US Labor Department
Data on how American consumers use their time.

Trendwatching.com: Free monthly lists of consumer trends in many industries.

United Nations Demographic and Social Statistics
Includes information on demographics of countries, income and consumption, and more.

US Census Bureau International Data Base (IDB)
Statistical tables of demographic, and socio-economic data for 227 countries and areas of the world.


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