Assignment Description and Instructions:As a group of aspiring entrepreneurs, you must create a business plan for a service-oriented business in the tourism industry in any Caribbean country (not an existing business/company).Key Elements of the Business Plan Marketing Strategy (13 marks)This section describes the company’s target market and its characteristics.Demographic characteristics of target customers.Number of potential customers.Customer needs, wants and habits.Advertising and promotionMedia usedMedia costsFrequency of usagePlans for generating publicity.PricingCost structureFixedVariableComparison against competitors’ pricesDistribution strategyChannels of distribution used.

Title: Caribbean Adventures: Business Plan for a Tourism Service-oriented BusinessExecutive Summary:…

Answered: Assignment Description and…

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

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Assignment Description and Instructions:

As a group of aspiring entrepreneurs, you must create a business plan for a service-oriented business in the tourism industry in any Caribbean country (not an existing business/company).

Key Elements of the Business Plan

Marketing Strategy (13 marks)

This section describes the company’s target market and its characteristics.
- Demographic characteristics of target customers.
- Number of potential customers.
- Customer needs, wants and habits.
Advertising and promotion
- Media used
- Media costs
- Frequency of usage
- Plans for generating publicity.
Pricing
- Cost structure
  - Fixed
  - Variable
  - Comparison against competitors’ prices
Distribution strategy
- Channels of distribution used.

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Financial Forecast

This section outlines the projected financial statements. The financial statements should include detailed notes/explanations and assumptions to substantiate your projections. You can use imaginary numbers, however can you include a capital of $500,000 and a loan of $250,000 in the statments.

Please provide the Key assumptions
Provide the mentioned Financial statements:
Income statement
Balance sheet
Cash flow statement
Break-even analysis

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