Chapter 1Setting Up a Business1. In which field will you set up your business?With the development of the science and technology, many traditional goods have been displaced by electrical apparatus. Almostly we do anything by using electricity, such as electric cookers, cellphones, computers and air conditioners. We strongly realize it when theres something wrong with electricity. So I want to set up my business ,building a supermarket, in the field of electrical appliance and electronic goods.2. Will your business be a sole proprietorship, a partnership, or a corporation ?My business will be a sole proprietorship. The advantages of sole proprietorships are many fold. The following are their major appeals.First of all, it s simple to establish. Just pay a small fee, get the necessary state and local licenses or permits.Secondly, its more freer in decision-making. As a sole proprietor ,I can make my own decisions on business policies and operations, such as the type of goods or services I want to offer at the price I feel appropriate.Thirdly, its easy to keep operational and financial secrecy. I don t have to report to shareholders or board directors.Fourthly, its less tax burden. The tax rates for sole proprietors are often only half of those for corporations.Last but not least, its exclusive use of profits.if I work hard and make a small fortune, I can take all the profits and dont have to share them with anyone else.Chapter 2Marketing: An Overview1. How would your business offer advantages over competitive firms?The advantages of my business are many fold. The following are the major appeals.a. Guaranteed authentic goods of high quality and reasonable price. The electrical appliance and goods we offer are of high quality and reasonable price. Any second-hand goods or copycat cellphones cannot be found in my market.we sell guaranteed authentic good.b. Some promotional activities .We can offer some kinds of free gifts when consumers buy my goods. If they consume a certain amount of money, they can register for membership cards.c. Better after-sale service. We will offer better after-sale service free of charge to ensure the satisfaction of my consumers.2. Does your business have factors which could make your revenue lower or expenses higher than what you expect?a. Low reputation of a new brand. My business as a new comer to this field lacks high reputation and brand effect, there are not many consumers at first.b. Some copycat electronic goods of cheeper price and poor quality in other competitive firms. These goods will attract consumers a lot at very low price at first,my business will be in a poor situation which makes my revenue lower .Chapter 3Products and Pricing1. How is the products you plan to offer is different from those offered by your competitors?a. Guaranteed authentic goods of high quality and reasonable price. The electrical appliance and goods we offer are of high quality and reasonable price. Any second-hand goods or copycat cellphones cannot be found in my market.we sell guaranteed authentic good.b. Better after-sale service. We will offer better after-sale service free of charge to ensure the satisfaction of my consumers.2. How will the pricing of your products be determined compared with those of competitive products?First, marketing research .Collecting and analyzing the price of competitive products to identify consumers purchasing power and buying abilities. Then decide the price that the customers can accept.Also we can set the price the same as those of competitive products, besides we will offer some little gifts free of charge to attract more customers.3. Could the unique features of your product be protected from competitors?The unique features of my products could be protected from competitors . The electrical appliance and goods we offer are of high quality and reasonable price. Any second-hand goods or copycat cellphones cannot be found in my market.we sell guaranteed authentic good. Also we will offer better after-sale service free of charge to ensure the satisfaction of my consumers. The unique features of my products could be protected from competitors .Chapter 4Channels of Distribution1. How will your business distribute the products to the customers?a. Virtual stores. Well also represent my goods on the Internet by setting up virtual stores. My consumers can make inquiries, check specifications, compare prices, place orders and make payment, all through the Internet, thus making my goods shopping much efficient than the traditional modes.b. Direct selling. Home appliances and electrical goods can be sold directly, which involves selling to consumers in their homes or workplaces. This approach can fully demonstrate the features of the products and enable direct and one-to-one consultation to prospective buyers.c. Multilevel marketing. MLM has been popular around the would in selling a wide varie