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Process of developing a business plan

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Reference no: EM131514568

Question #1

Fish Specialist is a small, family-owned restaurant specializing in gourmet sea food. James Moby, the owner is thinking of using the internet to build a community with his regular customers.

1. Does it make sense for such a business to pursue such a strategy? Why or why not?

2. If he decides to do it, how should he use the internet to implement it?

3. Is there any other group besides customers that he should strive to build a web-based community? How should he pursue this and why?

Question #2

Sonia Weller is opening a new gallery in downtown Boston. The opening ceremony will take place in 5 days. Sonia does not have enough money to create a traditional public relations campaign, and the best she has done so far is to make some phone calls to local reporters who write about art. She is planning eventually to create a web site and use it as a way to connect with customers, but she does not have the time to do anything before the opening. Is there any way she can still use the internet to maximize the publicity of her gallery's opening? What would you recommend her to do and how should she do it?

Question #3

Jack Lyndon is an inventor. He has come up with a new product that can be used to help people avoid driving while under the influence of alcohol. It is like a small portable breath analyzer, but is also adjusts the results for each person's weight, age and gender to give the user a more accurate estimate as to how much their drinking has affected their coordination and ability to drive. Thus, in many cases even when one may be within the legal limits, the machine may still recommend not to drive given all other factors.

Jack is in the process of developing a business plan so he can present it to potential investors to finance the production and distribution of his product. As part of his business plan, he needs information about how the market may respond to such a product. He is thinking of using the internet to test this new product concept. What online research method(s) would you recommend for this situation and why?

Reference no: EM131514568

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