1. Vision statement 2. Venture concept
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3. Positioning statement
4. Develop a strategy for a distinctive brand
Now that you have laid the foundation for your new business venture and completed the beginnings of your business plan, it is time to complete a vision and venture concept for your new business venture. Using the textbook and other resources, develop a well-structured vision statement. This statement of vision should depict the direction and ultimate goals that the venture will follow. In addition, and using Chapter 7, construct a venture concept for your new business venture. The venture concept will demonstrate what differentiates your business venture from the competition in terms of solutions and meeting customer needs and how you will compete. This will require research and analysis and not just what you believe.
Once you have completed your vision statement and venture concept, the next phase in the business plan is to provide specific details pertaining to the strategy for positioning and branding your new business venture so you can Go-to-Market. This involves investigating, developing, and articulating your positioning on functional, emotional, and social dimensions that will provide a competitive advantage over the competition. (7- 8 pages)