Final answer:
A business plan should include a variety of sections, such as the executive summary, product/service details, market analysis, marketing strategy, organizational structure, and financial projections. Therefore, the correct answer to what a business plan should include is Product/service justification, location, market plan, and customer capture.
Step-by-step explanation:
A business plan is a comprehensive document that outlines the objectives of a business and the steps needed to achieve them. When writing a business plan, it's important to include a variety of sections to fully articulate the business idea and strategy for success.
Components of a Standard Business Plan
Executive Summary: This section provides a concise overview of the entire plan, along with a history of your company if applicable.
Products and Services: Describe what you are selling with enough detail to make the reader understand what you offer.
- Market Analysis: Demonstrates a clear understanding of the industry, market trends, and target audience.
- Marketing Strategy: Outlines how you plan to attract and retain customers.
- Organizational Structure: Details about the ownership, management team, and staffing.
- Financial Projections: Provides forecasts on income, cash flow, and balance sheet.
So, the correct answer is b) Product/service justification, location, market plan, and customer capture because a business plan should cover not only the product and services but also other crucial components such as location, market analysis, marketing strategies, and how to capture customers.