Finish This Business And Marketing Assignment Paper

Industry Validation
Name
Institution
Industry Validation
Challenges and Compensation Tactics
The prep2U idea of service is indeed unique, and this presents an opportunity for the company. In any industry, uniqueness gives people an edge over their competitors, but while at first, it can be an opportunity that can turn profitable, if not used well it can turn out to be a curse in disguise. This is mainly because the market will expect the same vitality as well as the maintenance of the same stature or else people will start finding faults with everything you do. Therefore, it is a challenge to maintain the image a company has while making an entry into the market. Butler services are often provided in hotels, and while it might seem like an easy thing to do, Kellerman (2013) categorically states that consistency is indeed important.
The other challenge mainly entails the inclusion of a returns policy. People need to be able to return their goods especially if they are not to their liking. Consumers do have rights, and as per the law, one can return a certain product if they deem it unfit or faulty. However, companies often struggle to specify the details of their return policies.
The other challenge mainly entails the fact that the prep2U service is new and selling the idea to potential clients could be costly. Marketing is an important part of any business, and for a company seeking to introduce a less attractive idea, it can be a challenge to get set and to reach the aspired heights. With new ideas, companies can either succeed in making their case or fail miserably. The approach should, therefore, be calculated and the expectations lowered. The main concern should be on selling people the idea and making sure they buy into it.
The other challenge is tied to the fact that people have grown accustomed to the butlers in hotels and will, therefore, accept nothing short of what they get in hotels. The stakes are indeed high, and it will require hard work and extensive research to either topple or be at par with the big hotels. However, prep2U promises additional services especially to large firms as well as its members. It, therefore, remains to be seen whether the company will be able to make a loud entry or small and negligible noises in the market.
The initial variable cost will also be a challenge for the company. The company website will need maintenance as well as a support team which will mainly make sure all the clients’ questions and concerns are dealt with. Frequent u...