Title: Identify the purpose and structure of a business plan.
Course: Digital and Social Media Marketing (12162) > Section: Understanding Marketing Plans

Identification should include

- the purposes of a business plan
  - to provide the detailed information needed for acquiring capital
  - to lay the foundation for business development and expansion
  - to serve as a road map for the business to follow
- the structural components of a business plan and their importance
  - executive summary
  - type of business
  - business philosophy
  - product and service plan
  - self-analysis
  - trading area analysis
  - market segment analysis
  - operational plan
  - organizational plan
  - marketing plan
  - financial plan.

Process/Skill Questions:

- What are the main sections of a business plan?
- What is the function of each section of the business plan?
- How does each section relate to the overall purpose of the plan?
- What preparation should be done prior to developing the business plan?
- Why does one need to conduct research to write a business plan?
- Should a business plan for an internet-based business differ from one for a brick-and-mortar business? Why or why not?
- Does a business need a business plan in order to start?
- What business opportunities require a business to have a business plan?