Posts Tagged ‘Creativity’
This paper represents a business plan sample for Product Placement Opportunities®, a marketing services company that provides a platform for medium sized businesses to engage in product placement in a cost-effective manner through its website www.pp-opportunities.com. The business plan is built upon the gap in the in the marketing services industry that relates to allowing media, special event and computer games businesses to utilise their product placement opportunities in a direct manner, without using the services of marketing agencies. The comprehensiveness of the business plan is ensured by explaining mission statement, business strategy and objectives in a detailed manner. The main source of revenue for Product Placement Opportunities® relates to charging media, special event and computer games and other businesses for advertising their product placement opportunities on www.pp-opportunities.com. Price skimming pricing strategy has been chosen as the most suitable for the business. Analysis of principal personnel qualifications and experience contained within the plan highlights the ways in which competitive advantages are going to be derived. Moreover, cash flow forecast, profit and loss accounts forecast and balance sheet associated with the business plan have been developed on the basis of situational analysis and analysing market size for Product Placement Opportunities® services. The business plan also contains discussion related to relevant legal requirements, such as the company’s legal structure, commercial dealings, insurance and others. Glossary of Terms 1 1. Description of Business 2 2. The Mission and Vision Statement 3 2.1 Business Idea 3 2.2 Trading Status 4 2.3 Management & Ownership 4 2.4 Business Objectives 5 2.5 Business Strategies 5 3. Product and/or Service Plan 6 3.1 Product Placement Opportunities® service description 6 3.2 Product Placement Opportunities® Unique Features 7 3.3 Pricing Strategy& Value Issues 7 4. The Market Plan 8 4.1 Market Research Methodology 8 4.2 Secondary Research 8 4.3…
a) What learning have you gained from the study of international marketing and how this learning has enabled the development of your analytical and behavioural skills. Support with actual examples. The study of subject of international marketing has positively contributed to my knowledge in many ways, as well as it has increased a range of my skills and capabilities. To be more specific, my knowledge was increased in a way that I was able to analyse a wide range of marketing issues not only on the scope of a single market or country, but also from a global perspective. My skills and capabilities that were developed and improved during international marketing classes and seminars include communication skills, global viewpoint, analytical skills, cross-cultural skills and others. First of all, from the beginning of the classes I became able to distinguish between traditional marketing within a specific market or a country and a form of new marketing that did not recognise borders between countries i.e. I came to appreciate the scope and depth of international marketing. Moreover, various factors affecting international marketing such as global cultural environment, global business customs, international political and legal environment were taught during classes in detail that updated my knowledge about marketing, and as a result I also became aware with a range of new issues affecting businesses in general, and marketing in particular that were resulted from globalisation. One of the important factors, in my opinion, that positively contributed to the learning process was the high level of professionalism of lecturer whose teaching style was efficient in a way that each and every concept and idea was explained by referring to real-life business examples. I personally found global marketing research more challenging than marketing research that is conducted within a particular market. Because in case of…
Intensifying forces of economic globalisation have facilitated the shift of production from highly developed countries such as the US and European countries to emerging superpowers like China, India, and Vietnam during the last several decades (Jacques, 2012). However, there is an argument that a set of technological breakthroughs such as introduction of 3D printing may reverse this shift. This article represents a critical analysis of the boomerang effect of competitive advantage in manufacturing in relation to developed countries as discussed in The Economist Special Report entitled Manufacturing and Innovation: A Third Industrial Revolution by Paul Markillie (2012). The article starts with a brief discussion about the rise of China as a world’s largest manufacturer. This is followed by discussing the likelihood of boomerang effect, i.e. shift of production back to rich countries. Moreover, the article contains a discussion of an alternative scenario analysing the chances for China to retain its current manufacturing leadership position in the global scale. Rise of China as a World’s Largest Manufacturer Cheap costs of human resources are widely believed to be one of the main reasons behind the emergence of China as the largest manufacturer in the world. According to the US Bureau of Labour Statistics only several years ago the cost of labour in Chinese factories was as low as 64 cent per hour whereas, hourly pay rate in the US factories amounted to $21.11 (Businessweek Magazine, 2004). Accordingly, this vast difference in employee pay rates has motivated many multinational businesses based in the US and Europe to outsource and offshore their manufacturing to China in an attempt to gain cost advantages. Moreover, highly increasing level of effectiveness of human resources in China can be specified as another factor that has contributed to its status of the largest manufacturer in the world. It has been…
Businesses trading today, including multi-billion multinational corporations have commenced their operations as start-ups and have grown to their current sizes due to a range of reasons, including offering competitive products, and services, engaging in effective marketing exercising strong management etc. Comprehensive study of these success factors is important for new start-ups so that common mistakes can be avoided and chances for success maximised. This article represents a brief critical analysis of the reasons of success and failure of start-ups. The article starts with discussing the major reasons of success and failure for start-ups and this is followed by the illustration of real-life examples in order to justify the opinions. Reasons of success and failure for start-ups There is range of reasons that can make or break start-ups. The level of familiarity and experience of the owner in the relevant industry is a factor that plays a significant role in the future performance of a start-up. In other words, highly successful start-ups tend to have owners that have a high level of experience, and professional and personal interest in the business they are initiating. On the contrary, the majority of start-ups initiated on the basis of the personal interest alone, or for the sake of following a popular trend tend to face significant challenges in various aspects of the business due to the lack or even absence of founder’s experience and knowledge in a given industry. Competitive advantage associated with a business idea is another major factor affecting its success. Competitive advantage is defined by Khosrowpour (2007, p.108) as taken from Braun (2006) as “a condition that enables companies to operate in a more efficient or higher quality manner than the companies it competes with, which results in financial benefits”. Accordingly, start-ups that have stronger competitive edge are more likely…