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Business Plan Part 3 Section 1 (MGT 125)
Essay Instructions:
Kenesha Grace
Business Plan Part 1 MGT 125
Identify your HIGHEST POTENTIAL customer by GENDER, AGE RANGE, INCOME LEVEL, LIFE CYCLE STAGE.
Even if you plan to sell to “everyone” you must identify your one highest potential segment.
Estimate how big your POTENTIAL MARKET is.
Describe your top 3 competitors. Include 2 strengths and 2 weaknesses for EACH competitor.
Justify how your offer is different from what is currently available to customers.
The government census data can help you to size your market. If you plan to sell in Hawaii, start with how many people live in Hawaii.
If women are your highest potential gender, see how many women live in Hawaii.
Based on your targeted age range, see how many fall into that segment … if it is 25% of the population then multiply the total number of women by 25%. You may have to estimate if your age range does not match perfectly with those of the census data.
One method of assessing income level is percentage with a college education (assuming those with a degree make more money).
For life cycle, you can look for marriage data and even look outside of the census data to other reports available on the Internet.
The next slide shows you an example.
The main assignment will be attached as Business Plan Part 3 section 1. This assignment is a continuation of Part 1 and Part 2. I will attach my work from Part 1 and 2 so that writer will know how to proceed. Also, I will attach part 2 assignment instructions. The only thing I need completed from part 2 is the Market Sizing Chart. The demographics will be from Hawaii, Honolulu County. No city needs to be specified. Thank you.
Essay Sample Content Preview:
Business Plan Part 3 Section 1
Student:
Professor:
Course title:
Date:
Brand Equity Statement
What I am selling is Roller Skating recreational services. These will be offered in Glide with Grace skating rink, and skaters on the island of Oahu, Hawaii will enjoy roller-skating there. It will be a state-of-the-art facility that besides providing Roller Skating activities, it will provide venues such as an arcade to compliment the entertainment nature of the Roller Skating rink, and games such as pool tables and air hockey will also be provided for a small fee. The major benefits of this service are that: (i) it will provide roller skating activities, which will be the only of its kind in Oahu; and (ii) it will provide an exceptional opportunity that will cater to families, church groups, schools and civic organizations. The service has value to the targeted audience since there is demand for roller skating services and customers will enjoy a unique recreational opportunity.
Comparing Equity Brand Statement
The competitors include Ice Palace and Kamiko Iko Community Park. Ice Palace: this company has been a local landmark on the island of Oahu for virtually 3 decades and is the only one on the island. Of late, there have been customer complaints that the restrooms are dingy, and are often dirty and also require refurbishment. In addition, the concessions area closes frequently. It only offers ice skating activities. The offer that Glide with Grace presents is superior in the sense that it will offer other activities besides skating that customers can enjoy. The facility will be very clean including the restrooms, thus my offer is super...
Student:
Professor:
Course title:
Date:
Brand Equity Statement
What I am selling is Roller Skating recreational services. These will be offered in Glide with Grace skating rink, and skaters on the island of Oahu, Hawaii will enjoy roller-skating there. It will be a state-of-the-art facility that besides providing Roller Skating activities, it will provide venues such as an arcade to compliment the entertainment nature of the Roller Skating rink, and games such as pool tables and air hockey will also be provided for a small fee. The major benefits of this service are that: (i) it will provide roller skating activities, which will be the only of its kind in Oahu; and (ii) it will provide an exceptional opportunity that will cater to families, church groups, schools and civic organizations. The service has value to the targeted audience since there is demand for roller skating services and customers will enjoy a unique recreational opportunity.
Comparing Equity Brand Statement
The competitors include Ice Palace and Kamiko Iko Community Park. Ice Palace: this company has been a local landmark on the island of Oahu for virtually 3 decades and is the only one on the island. Of late, there have been customer complaints that the restrooms are dingy, and are often dirty and also require refurbishment. In addition, the concessions area closes frequently. It only offers ice skating activities. The offer that Glide with Grace presents is superior in the sense that it will offer other activities besides skating that customers can enjoy. The facility will be very clean including the restrooms, thus my offer is super...
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