Business Plan and Project Report Essay Example

  • Category:
    Business
  • Document type:
    Assignment
  • Level:
    Undergraduate
  • Page:
    2
  • Words:
    1283

Business Plan and Project Report

4. Proposed business solution

Marketing strategy and revenue model

In order to develop an appropriate marketing strategy for Barwon Taichi, it is important to conduct a market analysis which will focus on the SWOT analysis. The purpose of doing so is to be able to understand the type of clients to deal with and also to come up with a strategy that will not interfere with their culture. From the introduction about Barwon Taichi, it is clear that they are operating with little technology and, therefore, their operations are not diversified because it is only centered to the clients within the reach. As a consultant from Deakin Innovative solution, it will also be important to develop a marketing strategy for our clients in a more satisfactory manner and we begin with analyzing the background of the business that needs a solution. Analyzing will, therefore, involve going through their strengths, weakness, opportunities and threats.

The first step in developing a marketing strategy begins by understanding the competitors; this will help in setting up a strategy that will enable Barwon Taichi to attain a competitive strategy. After understanding the competitors and what they pursue, it is also important to understand the SWOT analysis. The business solution that will be designed for Barwon Taichi will depend on the opportunities that have been discovered because it is obvious that opportunities are a key step in developing a business solution. Barwon Taichi needs a marketing strategy to penetrate into the market and win more customers who will attend their services offered. Therefore, the opportunities identified will be able to out way the weaknesses in the company and, therefore, they will be able to avoid threats using their strengths. The business solutions and revenue model proposed are below;

The business should improve the amount of web presence by creating an interactive website; this will be achieved when the company opens up more websites that will create convenience to the customers, perhaps developing a social site whereby all the interactions are centered towards service provided by Barwon Taichi.

Barwon Taichi should develop a revenue model by creating a booking and payment system that will use the internet, this is a strategy that attracts customers and they give attributes towards the service of paying through online since it shortens the process of queuing.

They should also advertise the availability of other services that accompany the Chinese culture, for example, including dinner parties and acupuncture.

The company should also update their emails weekly for the purpose of enhancing interaction with consumers, this is a strategy that will win customer loyalty and trust and it will also build the image of the company.

It should also improve on health tips as from the history of the business operation, it is identified that they want to develop traditional healing where they will use herbal medicine. They should, therefore, integrate health tips with their intended traditional healing.

5. Implementation

Proposed website and its implication to the business solution

The company should develop a website that will be useful to the age requirement of customers required in the company. The website should be designed in a manner that it is convenient and available to the customers globally. The main purpose of using the internet in advertizing is because it gives an opportunity for reaching out many customers globally at a lower cost. The company should, therefore, have a website for the same purpose of reaching customers globally. The purpose of having a website will be for the achievement of the following goals;

Online social presence, this is where the business website will influence customers to log in to their website and the company will have achieved the goal of providing online service.

The customers will be able to purchase products online because they can get access to the company service where they can view the products and services and, therefore, settle for their taste and preference and finally placing an order.

Conducting market survey will be enhanced through the use of internet because the company will be able to conduct online market survey by researching on the progress of competitors and also by keeping in phase with the changes in the external environment.

The company will be able to create awareness of their products and services because customers will login to their website and acquire the relevant information concerning the operation of the company, this will offer a chance for the customers to search and understand their business plan.

The website should be structured in a manner that will portray the image of the company which will be designed with the positioning statement; it should be attractive and appealing so that customers will be curious to find out the aim of the business and, therefore, they will login in. The website should contain a brief summary about the company; this will range from the mission statement, the vision and the objectives or goals of the company. It should also contain a brief history about the company whereby the customers will be able to gain information about the intentions of the business. It should also contain the success factors of the company and what influences the success. The website should also bear the main products and services to the customers with a description of each product and service and the mode of payment, this will enable customers to place an order with the knowledge on the mode of payment and the amount required. It should also contain an interactive session where customers can post questions and the administration will answer them. The mode of payment for the website service will be achieved when customers are able to login in by creating a username and a password, this will secure the website operation because it will not be tampered with by customers with bad intentions.

6. Benefits and limitations

Benefits

Barwon Taichi is a company that needs to diversify its operations and penetrate into the online market by the use of internet. Therefore, the business solutions provided will enable the company to benefit in terms of customers turn up. Since the use of internet marketing gives an opportunity to reach many customers globally, the company will have achieved the goal of attracting more customers because they will be able to display their products and services.

The company will also benefit in terms of revenue earned after the higher turn up of customers since they will be able to sell their products and services. The company has many sections for operation whereby their products and service provision will depend on the customer preferences.

Another benefit comes from the ability of the company to do a thorough research and development program with the help of internet and information technology facilities around the company. It is obvious that concrete research and result findings will boost the development of strategies and the plans on implementation.

The company will also benefit from building its image and creating awareness to customers globally, their products and service provisions online will win the customer loyalty and trust and this is beneficial to the company.

Limitations

The development of the website requires that our customers will be patient and learn on how to use the website, this will occur as a limitation because customers will be required to create a username and password which will enable them to login to our website. Customers should, therefore, be informed on this issue because failure to that will result to customer ignorance. A company website should be designed in a manner that will display the login in procedure which will make it easy for the customers to follow the procedure without ignoring the website information.