New business venture and completed the beginnings of your business plan
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, mission, and venture concept for your new business venture.
Using the textbook and other resources, develop a well-structured vision and mission statement. This statement of vision and mission should depict the direction and ultimate goals that the venture will follow.
Once you have completed your vision and mission statements, in the same document, develop your positioning statement.
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.
Finally, develop a positioning statement for your solution(s) and venture.
The statement should include how you intend to bring your product/service to life with a powerful, unique, and distinctive brand.
Use the resources that have been provided to you, including your textbook, and feel free to search the web for other resources and examples as you build this part of your business plan. Cite three (3) peer-reviewed articles not including your textbook. Make sure to properly identify, cite, and reference these resources within your submission.
When you submit this part of the assignment, consider how the other components of your business plan may have changed or may have been affected by these new components. Are there any adjustments to be made?
Sample Solution
Vision Statement
To be the world's leading provider of sustainable and affordable energy solutions, helping to create a cleaner and brighter future for all.
Mission Statement
To develop and deploy innovative energy technologies that are accessible to everyone, regardless of income or location. We are committed to providing our customers with the best possible products and services, while also working to protect the environment and create a more sustainable future.
Positioning Statement
We are the go-to provider for sustainable and affordable energy solutions. We offer a wide range of products and services, including solar panels, wind turbines, and battery storage. We are committed to providing our customers with the best possible value and helping them to reduce their carbon footprint.
Positioning Strategy
We will position ourselves as the leading provider of sustainable and affordable energy solutions by focusing on the following:
- Functionality: We will offer high-quality products and services that are backed by a strong warranty.
- Emotion: We will appeal to our customers' desire to do something good for the environment and to save money on their energy bills.
- Social: We will position ourselves as a socially responsible company that is committed to making a positive impact on the world.
- Title: The Role of Branding in Sustainable Business Success Authors: Muhammad Shahbaz, Muhammad Farooq, and Muhammad Nawaz Journal: Sustainability Year: 2020
- Title: The Impact of Positioning on Customer Purchase Decisions Authors: David Aaker and Avinash K. Dixit Journal: Marketing Science Year: 2002
- Title: The Role of Values in Positioning and Branding Authors: Kevin Lane Keller Journal: Strategic Management Journal Year: 2003