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Small business plan - Research Paper Example

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I. The target market and the reasons for your choice of market  Mobile Plus Group Ltd market is categorized its target market into two main groups which are; a) Business users – The main target market of the business are the business phone users. The features of our product which is dual or triple SIM celphone addresses their particular need to be constantly connected in handheld mobile device by having a spare line without the inconvenience of an extra phone…
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Small business plan
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Download file to see previous pages Personal celphone users can be a profitable segment in the market given their sheer size. II. The marketing orientation that the business will follow and why you have chosen that particular path.  Marketing orientation is “an approach to business that centres its activities on satisfying the needs and wants of its customers” (Pearson 2008). By following this approach, all the activities of Mobile Plus Group Ltd will be directed toward customer satisfaction with a customer service that is second to none. The key element for a successful implementation of a marketing orientation is to know the customers of a business. Our customers are primarily composed of business people and are responsive to functionality, value and service. With this in mind, our company should strive to satisfy customer needs by always thinking of ways to source out products that could offer more functionality at a price that is lower than competition. To ensure customer retention, we should also couple it with a customer service (a service center is also offered by the business) that is second none. Implementing this market orientation which is focused on exceeding customer expectation will ensure the company’s viability in the industry. III. At least three external environmental factors that will impact on your market. Given the nature of our business which is technology based that constantly change at a dizzying pace, we should always be on the lookout for external environmental factors that could threaten the business’ viability. The following are the three factors that are considered as a potent threat to the business. a) Obsolescence – technology innovates and changes so fast that what is “in” right now could become obsolete in just few months or weeks. Such, we should always be updated about the emerging trends and technology so that the business will be able to appropriately respond to new trends to remain viable and competitive in the market. b) Tariff – Mobile Plus Ltd market orientation is to give value to its customers. That entails offering functional celphones to customers at a lower cost. If tariff taxes will shoot up, will have an effect on our pricing which will have an impact on our competitiveness. c) Competition – If there is any external factor that could directly affect the competitiveness of a business, it would be its competitors. As such, competition should be should always be monitored to ensure that the position of the business in the industry is competitive. IV. Explain the characteristics of the chosen market. The business users segment in the celphone market can be demanding considering that they are aware of the various options and alternatives they have for our products. They know that if they are dissatisfied with our products and/or service, they can always go to the competition. The business segment market also has a greater purchasing power but appreciate getting value for their money knowing that money saved could be used for other important purchases. They require after sales support for product purchased anticipating the convenience of a customer service should they will have any issue with the product. They are also sensitive to the reliability of the products purchased from us. Time is important to ...Download file to see next pagesRead More
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