U36 Assignment 1

BTEC Level 3 Diploma in Business (90 credit)
Unit
U36 Starting a Small Business W/C 04/11/13
Issue Date
Assignment Title Completion Date
Business Idea and Target Market W/C 25/11/13 Assessor
Assignment no. Adam Hart
Criteria P1 P2 M1
To achieve the criteria the evidence must show that the student is able to: present the initial business idea using relevant criteria explain how to identify the target market explain methods used to identify the target market for the proposed business
Task Achieved no 1 2 3
Learner declaration I certify that the work submitted for this assignment is my own and research sources are fully acknowledged. Student ID Name BTEC Reg
Signature
[BXD_U0.0_2013-2014
Date
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Unit Title: Starting a small business Qualifications: BTEC Level 3 Diploma in Business (90 credits) Start date: 4 November 2013 Deadline date: 25 November 2013 Assessor: Adam Hart
Assignment title: Business idea and target market The main purpose of this assignment is to: Be able to present the initial business idea using relevant criteria Scenario: Starting a business is an ambition for many people. The business idea could be almost anything - a coffee shop, a courier service, a hairdressers, a motor vehicle repair workshop, a DJ service, a painting and decorating business, an equipment hire operation, an organic smallholding producing fruit and vegetables, etc. However, starting a small business can be fraught with difficulties and the idea may not always be successfully realised. Through completing this assignment you will begin the process of planning to start a small business. Identifying your initial idea, as well as your potential customers, this assignment will form the groundwork to develop a business start-up opportunity.
Task 1a: Research and present an initial business idea in the form of a formal report and describe how you will identify your target market. You should chose a business suitable for self-employment and you should cover: A full description of your business idea Grading tip Ensure you include ALL of the following: Your chosen business type Aims and objectives Unique Selling Point Reasons for the potential need or demand for the business The competitive edge your business will have The key external influences
Present the initial business idea using relevant criteria P1
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Task 1b: Your report should also include: A full explanation of both: Grading tip You should include all the following: Define your research objectives Write a concise research plan Plan to use primary and secondary research methods Identify a suitable sampling technique Suggest a suitable timeframe for your research Write a description of your target market Explain how to identify the target market P2 Task 3: Your report should include a section which explains and justifies the research methods you used to determine the target market. This section will also explain and justify why these methods were the most appropriate for your business idea. Grading tip You will need to refer to the research results from P2 and your business idea from P1. Explain how the methods you used allowed you to determine the key pieces of research information. You should also explain your chosen sampling technique including what it means and why you felt it was appropriate in the chosen circumstance. Explain methods used to identify the target market for the proposed business M1
how to identify the target market who the target market is
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Student Name:
Assessor: Adam Hart To achieve a Pass P1 present the initial business idea using relevant criteria P3 explain how to identify the target market To achieve Merit M1 explain methods used to identify the target market for the proposed business Assignment feedback:
Unit : 36 Starting a Small Business Assignment 1 Business Idea and Target Market Hand out Date: 4 November 2013 Hand in Date: 29 November 2013 Achieved Achieved
Completion of evidence: Report includes ALL of the following: business type; aims and objectives; USP; details of competitive edge; any external influences (eg location); customers and demand; any other relevant criteria Explanation of how to identify the target market informed by business idea and the aims and objectives of your proposed business idea. Market research and sampling methods including: Included Research Proposal with appropriate plan of research linked to objectives. Demonstrated understanding of the methods used to identify the target market for the proposed business. Considered a range of methods that could actually be used and to provide reasons for choice. Learner explains reasons for market research. The selection and justification contributes to a possible business launch, rather than just being a descriptive account of how they could be applied. Quality of submission:
Comments/ improvements required
Resubmission date (if required) Assessor

[BXD_U0.0_2013-2014
Adam Hart
Signature
Date
02 / 12 / 13
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BTEC Level 3 Diploma in Business (90 credit)

U36 Starting a Small Business W/C 04/11/13

Assignment Title Completion Date

Business Idea and Target Market W/C 25/11/13 Assessor

Assignment no. Adam Hart

BTEC Level 3 Diploma in Business (90 credit)

Present the initial business idea using relevant criteria P1

BTEC Level 3 Diploma in Business (90 credit)

how to identify the target market who the target market is

BTEC Level 3 Diploma in Business (90 credit)

Comments/ improvements required

Resubmission date (if required) Assessor

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