What benefit will customers expect

Assignment Help Operation Management
Reference no: EM132211851

Chapter 3: read book!

1. Competitive Advantage- Entrepreneurship Portfolio-Critical Thinking Exercise 3-1 through 3-6. Complete items 1 through 6, which require you to create charts similar to the exhibits 3-4 and 3-6 in the text book for this assignment.

2. Key Concept Questions:

• 3-7: Gross profit is the profit of a business before which other costs are subtracted?

• What is the average unit of sale for the following businesses?

• 3-8: A restaurant that serves $2100 in meals to 115 customers per day.

• 3-9: A record store that sells $1500 worth of CDs to 75 customers per day.

3. Biz Builder Business Plan:

Complete business plan section 2.0, Mission, Vision and Culture: A, B C & D sections- for your specific business. Be sure to write as a narrative than just simply answering the questions. Remember your audience.

Chapter 4: read book!

Note: Items #1 and 3 will be a part of your business plan!

A) Naming Your Business:

B) Summarize your findings, as well as providing your business name in a short report. Be sure to include the required BLANK forms and costs that are associated with registering your business name. These also belong in your Business Plan Appendix. You do NOT have to complete the forms before submitting.

2.Complete Critical Thinking Exercises:

4-1 Customer Analysis and 4-2 Market Analysis in the Entrepreneurship Portfolio section of your text. Be sure to complete the chart and the three bullet point questions shown.

3. CREATE YOUR OWN customer survey specifically for your business. This should be a professional looking form, not just a list of questions on a Word document. Be careful as to what questions and the format that you ask your questions, as this will determine whether your responses are valid and/or useful to you as a business owner.

Be sure to avoid using ALL 'yes' and 'no' response questions so that you can glean the most information possible from your customers. and be sure to include a COMMENTS section in your survey for customer feedback- it appropriate for your business. Your survey will be included in your Business Plan Appendix!

NOTE: Make sure your survey is a separate form that includes your business name and contact info on the header!

Chapter 5: read book carefully !

Look: Break-even Analysis (Links to an external site.)

I. Write a summary of possible strategies and ideas you will consider in your marketing mix to market the product/service you have identified as your business. Some questions you might answer include:

Product:

• Who is the product aimed at?

• What benefit will customers expect?

• How will you design, package or otherwise add perceived value to your product/service in the eyes of your customers?

• Price (discounts, sales, list price, credit terms):

• How will you price your product/service for different customers?

• How will you make money based on your costs and desired profits?

• Will you have different prices for different customers?

• How might you have to adjust your prices to take into consideration different products or services in your marketing mix?

• Place (distribution, locations, inventory, logistics and transportation):

• How will you distribute your product/service to customers to best advantage?

• How will you make your product available to your targeted customers?

• Will you sell directly or produce your product and like Ford or GM, use dealers to market and sell your product or service?

• Promotion (communications, public relations, personal selling and advertising):

• What kinds of communications will you use to tell potential customers about the features and benefits or your products?

• Will you use direct selling, advertising, newsletters and special sales?

• Choose your pricing strategically.

• Decide on the location that is best for your customers.

• Determine the mix of promotion to use for your business.

• Use breakeven analysis to evaluate your marketing plan....this data will be used in your Sales Forecast coming up!

• Use your text as a source from the business/market plan sample. This will be an active part of your business plan. You may incorporate tables, graphs or spreadsheet in your document.

2. CALCULATE YOUR BREAK EVEN ANALYSIS for your 'top' selling item. If you have a variety of items, take an average selling price for your top 2-3 items and use that information for calculating.

Scenario #1: Use and submit the Breakeven Analysis Template below to calculate your break-even in dollars and units, with "0" profit.

Scenario #2. For your second calculation, add a reasonable dollar amount to the 'profit' cell on the template to see what your required units/dollars to make that amount in profit per year.

Be sure you show your Variable costs as UNIT costs and Fixed costs on an Annual basis. For instance, rent is 1,000/month, so, you would show $12,000 as rent in fixed costs.

BREAKEVEN TEMPLATE

Submit both scenarios of breakeven analysis.

Chapter 6: read textbook!

1. Create your business's marketing materials! such as: brochure, business cards, signs, logo etc. Remember, this is the 'face and first impression' of your business to your potential customers- it should look as professional as possible! Submit all files. Don't hold back, this is the face of your business!

Some examples are (but not limited to):

• Invoice template

• Bill of Sale

• Customer Receipt

• Brochure

• Menu

• Flyer

• Signage

• T-shirt

• Business card

• Appointment card

• Magazine insert

• Retail bags

• Coupons

• Gift Certificate

• Party invitations

• Social Media: Facebook, Instagram, LinkedIn, Twitter

So, depending on what type of business you have, you may not use all of these items, but have your own as well.

Attachment:- Read book.rar

Reference no: EM132211851

Questions Cloud

What is the danger of attempting to manage risks : BSBRSK501 - Manage risk Assignment - What is the danger of attempting to manage risks without properly researching them
What are the differences between each sampling method : What are the differences between each sampling method? Which method would you recommend Santa Fe use for its customers, and why?
What is egalitarian culture : What is an egalitarian culture? How does the development of an egalitarian culture help a company like Wainwright Industries become more quality minded?
Identify and apply course concepts for success at school : Identify and apply course concepts for success at school, work, and community. Enhance credibility and assure integrity by supporting your ideas.
What benefit will customers expect : Summarize your findings, as well as providing your business name in a short report. Be sure to include the required BLANK forms and costs that are associated.
Describe the relationship between stress and health : Describe the relationship between stress and health. Explain the influence stress might have on the health of your chosen population.
Establish relationship with external stakeholders : Explain in detail how a project can build and establish relationship with external stakeholders ?
Dynamic organizations by understanding legal-tax issues : Ways Social Entrepreneurs, Entrepreneurs, and Intrapreneurs Create Dynamic Organizations by Understanding Legal and Tax Issues.
Discuss process of examining family groups : Individual Summation: The purpose of this assignment is to begin the process of examining family groups and cultures different from one's own.

Reviews

Write a Review

Operation Management Questions & Answers

  Focused marketing strategies

Your Marketing Director has always focused marketing strategies more towards the brand’s top, heavy 20% of its customer base.

  Perceived as being bottleneck in communication

last resort since upper management will not sit down with them to discuss their concerns, and that you are perceived as being the bottleneck in communication.

  Globalization has led us to the realization

Globalization has led us to the realization that workers a interchangeable between countries so long as language issues are resolved. Why do you agree or disagree with this?

  Regarding efficiency and effectiveness

Which of the following is an INCORRECT statement regarding efficiency and effectiveness?

  What are the 3 types of airport beacons

What's the Visual Approach Slope Indicator light system? What's the runway lights and taxiway lights and where are they located?

  Really affect the brand images of the products

Channel images do not really affect the brand images of the products they sell that much versus Channel images must be consistent with the brand image.

  Would certain suggestive pretrial identification procedures

Would certain suggestive pretrial identification procedures be excusable in a small rural police department as opposed to a large urban police department?

  Devise a plan to assess the current challenges facing

You are the CEO of a 200-bed community hospital and have heard that Medicare hospital payments will continue to be trimmed for patients.

  Business process models and strategy analysis

Critically analyse the theory, concepts and models of operations and information management and demonstrate an understanding of the strategic importance of information management in global organisations - You are a consultant who has been employed ..

  Discuss the techniques these companies are applying

Find examples of two companies that are using approaches to busting bureaucracy. Discuss the techniques these companies are applying.

  California corporation headquartered in sacramento

California Agricultural Aircraft Services, Inc. (CAAS) is a California corporation headquartered in Sacramento.

  Efficient utilization of resources and facilities

How can computer systems help management achieve more efficient utilization of resources and facilities?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd