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Learning Journal Assignment: Vertical Industries

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In this week’s learning journal assignment, I will create the beginning outline for a business plan by writing my own mission statement. I will then highlight the four components of a good mission statement and identify those areas in my mission statement. I will then create an outline for a business plan by answering the “nine questions every business plan should answer”. Finally, I will provide an “elevator pitch” that I can use to “sell the business idea” to others. For the Vertical Industries organization, I will use the following mission statement. “Vertical Industries designs develop, and produce personal electronic aerial vehicles for all ages to offer safety, mobility and enjoyment not experienced before.” In this mission statement, …show more content…

Who is the customer? The customer at first will be children to young adults for the initial models. Then after sustainable business creation, we will focus on adults and handicapped individuals with specific models designed for their needs. Then we will focus on sports minded individuals with models that can be used in racing leagues. We will also focus a segment on the pop-culture individuals with models designed after the star wars speeder, the back to the future hover board and the harry potter flying broom. This shows that the market for low flying aerial craft can be quite broad with many individuals from all walks of life …show more content…

With the initial models, it will the experience. When marketing to adults and the handicapped it will be functionality and freedom. For the sports minded individuals, it will be the racing and completion that will be driving the sales. How will the product or service be priced? The product will be priced in a cost plus pricing model with a goal of being in the three hundred and five hundred dollars. I believe with setting a goal target price and using cost plus pricing I can stay within market pricing for other types of vehicles, be competitive and make an acceptable profit of one hundred dollars or more per unit sold. How will the product reach all the identified customer segments? The product will reach customers through direct websites sales which will be set at the lowest price and shipped to the customer. Retail stores and other distribution outlets will have the product shipped on a regular basis. This will allow customers to purchase the vehicles at any retail location that is nearest to their

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