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Conducting a Competitive Survey
              Business  owners  need  to  survey  all  possible  businesses  to  find  out  what  is  available  in  the  market  and  what  their
              competitors are doing. In customer surveys, you go directly to your customers and talk to them, but in competitive
              surveys, entrepreneurs need to observe these questions and ask others. This is a sample survey that you can use for
              competitive research.

                  Questions                                             Observations (To be filled by students)

                  Customer outlook of business
                  1. High-end
                  2. Low-cost

                  Competitor Price for Product

                  Is any offer being given?

                  Competitor’s interaction with the customer

                  Customer’s feelings while buying the Product



                      Business Planning & Improving Business Growth

              Planning is fundamental to business growth. It helps to create a vision for a well established business. A successful
              business requires strategy to please its customers and excel despite cut throat competition. Let us now learn what
              exactly is business plan and why it is necessary.

                                                  Planning the
                                                    business




                                                                Growing Business












              Business Plan
              A business plan is a detailed plan of what entrepreneurs want to achieve in a company and how to achieve it. When
              planning a business, an entrepreneur has to think about several factors. This includes answering the following questions:
              •  Who is the customer, and which need is being met?
              •  What product or service do we sell?
              •  What are the various business activities involved?
              •  Which material(s) is/are required to build the product?
              •  What is the number of customers being targeted?
              •  What is the role of each team member involved in the business?





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