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Small business management - Assignment Example

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Effort will be made to try to appeal to the interests of the customers so that they can perceive this product as valuable to them.
Creating customer relationship is another very important step that…
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Small business management
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Download file to see previous pages The most important customer in this case includes school going children as well as other young people. This helps the business owner to focus on the right group and resources are not wasted by focusing on a large market that does not consist of the targeted customers.
The other step that should be taken into account is about identifying the key resources needed to operate this business. The key resources in this case should include the ingredients for making the ice cream. The other resources required include a delivery van equipped with the vending kiosk of the ice cream to the customers. The packaging of the ice cream also constitutes a very important resource that should be procured before the commencement of business.
Distribution channel is the mobile vending machine. It can be moved from place to place and these places include schools as well as other busy streets. The product will also be distributed in residential areas since the vending kiosk is mobile and can move from one place to the other. In terms of distribution, effort should be made to ensure that the product is positioned in such a way that it will appeal to the interests of the customers as the best compared to other alternatives available.
The other consideration in this model is identification of the cost structure. A budget should be drawn and it should also outline the costs likely to be incurred in setting up this new business venture. This helps to determine the feasibility of the business venture.
Lastly, consideration should be taken about the nature of the revenue stream. Effort should be made to establish if the revenue stream can sustain the business venture in the long run. This also helps to determine the course of action that can be taken to turn around the fortunes of the ...Download file to see next pagesRead More
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