Week 3 Essay Example | Topics and Well Written Essays - 1000 words - 1

Week 3 - Essay Exampleccessful undertaking while taking particular considerations to the current scotch conditions and so as to develop contingency figures in that respect. In essence, it is a plan of thriving in the commercialize.While there are different types of melodic phrase plans, they all post serve either of the two plans internal and external (Schwetje & Vaseghi, 2007, p. 1). When a business plan has an internal function, it presents strategies and tactics which can be utilized to effectively manage the internal operations and other domestic affairs of the company. A business plan could also be structured for an external purpose when it presents feasible means of financing (e.g. bank loans, venture capital, strategic alliances) for the continuous operation of the business.The merchandising plan is probably the meatiest feature that a business plan could have since it presents how the companys products should be sold to the target market (even if the market is oligopol istic or in a form of perfect competition though except in a monopolistic structure) or in brief the influx of a real good cash that could support the business operations for a long term (Jaret, et al., 2010, p. 153). The marketing plan typically includes the current market situation, product positioning and/or promotional tactics (Jaret, et al., 2010, p. 154).Apparently it can be said that a product is not doing any good in the market at all either because of a poor marketing strategy or simply because it lacks value and features. However, sometimes a bad product can guise a good image through strategic marketing. A good marketing strategy permits the aspiring businessman to roughly know how to compete in market through a thorough market research. Without a marketing strategy, the business idea is a fail no matter how well established the companys reputation is. For someone bracing in the market, everything will be much worse.The financial overview is also an important aspect in a business plan. Defining the financial