- Published: November 18, 2022
- Updated: November 18, 2022
- University / College: Carleton University
- Language: English
- Downloads: 1
Looking at the Graph, we are able to project a potential incremental growth of demand versus supply. Incremental is based on the following criteria. 1. Total local market population of the business location 2. Minimum Minimal projected average sales of 35-50 units per day for SIX days to cater a potential market population of 1, 000 people. 3. A six month projection with a Incremental boost In sales for the first quarter to the 4th month and a plateau projection at the 5th month onwards subject to business performance review.
In order for us to come up with a price point data, we decided to follow the price point signaled by the Stir Fry Noodle kiosks in Greater Metro Manila. This is to eradicate any possible price adjustments in the future should we wish to grow the business further by offering franchising opportunities to other entrepreneurs who wish to franchise our start up business. We also believe that the Stir Fry noodle kiosks have already undergone an extensive survey on an affordable price point for the Stir Fry Noodles considering this will be the first of Its kind In Dave Doctors College canteen.
We will be offering a variety of promotions identified on specific occasions as well as seasons to ensure a steady flow of client interest and repeat purchases. Timeliness will also be created with regard to marketing activities to further ensure the implementation as well as the executing and viability of success for each and every marketing activity done. Initial activities and strategies would be below the line marketing strategies considering that we have a very minimal budget and funds for marketing activities.
Some of these would be the following: Price promotion On the opening day we will create a single day promotion or opening salvo promotion f 50% off for the first 100 customers. This Is to ensure we will create a stir during opening day and ensuring that we will be able to reach a maximum number of clientele who would be satisfied with our product and spread by word of mouth our business. Vouchers and coupons We would be selling out discounted vouchers or coupons at 50% lesser price than the standard price point. The objective of doing this is to maximize the number of people who redeem them.
Gifts with purchase (Pick a prize event) We would give customers something extra or get the chance to win something extra . E. An additional simoom or a free drink when they buy one or more stir fry noodles. And finally in this day and age oftechnologyandsocial media, we will ensure that our social media presence is engaging as well as intriguing enough to gain a number of followers thereby ensuring us a potential captured market who would not only be our potential customers but a potential business partner In the near future.
At the onset of the business we will initially focus on serving and delivering the quality and standards we wish to impart on our immediate clientele. Of course we ill not discount the power of clients who wish to taste our product thus once we have established a proper process flow and operational system, we will expand our branches to other areas such as the following: Overland transport terminals Bazaar Areas Exhibit and Booth Activities Schools and or Universities Malls Business Hubs And wherever we deem there is enough flow of consumer traffic as well as including delivery and packed meals to our service.
In ensuring that this will increase our sales and profitability we will therefore have to add more machinery such as our own emissary / kitchen to cater to these expansions and services. For deliveries, we will initially be accepting deliveries in the 1 kilometer radius and increase our capacity as well as delivery fleet detrimental on the demand generated. A dedicated mobile number for the three networks will be provided and sooner or later a SMS auto capturing and relaying system similarly used by R. A.
Ha Taxi services will be used to ensure that no orders will be forgotten and that efficiency as well as timeliness of the deliveries will be ensured. Product Identification HO-MAIM GOAD Stir Fry Noodles is afoodcart that offers stir fried noodles mixed with a variety of condiments, sauces and mixtures that the customer can freely choose based on their very own palate complimented with their own choice of dim sum (sis- mat). The customer simply has to mix in their preferred sauces and may choose to experiment mix matching these sauces and condiments to suit their taste topped by their selected choice of dumdums.
Dumdums choices will either be pork, chicken, beef, shrimp and crab. Beverages such as mineral water and the local stag’s Goldman mix ill also be available for consumption as these will complement the taste of the Stir- fry noodles. Should the customer wish to have a pre-concocted sauce then a menu of the specific pre concocted sauce will be provided of which they will mix in with Strength No existing competitors in the immediate vicinity to up to approximately meters from business location.
Multiple condiments and sauces complement ones creative imagination in coming up with their own personal flavor and taste A full and affordable meal complete with the basics such as carbohydrates and protein acquirement of the human body. Affordable pricing for a sumptuous meal complete with sanitary and quality set standards. Weakness Start up business without any existing process and operational flows. Needs resources for the accumulation and procurement of raw materials and main ingredients.
No procedural flow chart on product preparation and standardization. Lack of training for potential manpower employment. Lack of initial capitalization and funding resource. Opportunities Big room for expansion considering there is no other competitor with the same concept in the local region. Marginal room for error considering the startup location of the business will be established in a lesser populated area thereby increasing chances of improving process flows and preparation standardization.
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