...discretionary income by selling high quality, innovative products at a reasonable price, designing tasteful, convenient locations, and providing industry-benchmark customer service. In order to grow at a rate consistent with our objectives, Sigmund's is offering an additional $500,000 in equity. Existing members will be given the first option to subscribe to the additional equity to allow each of them to maintain their percentage of ownership. The portion not subscribed by existing members will be available for prospective new investors. Read more: http://www.mplans.com/pasta_restaurant_marketing_plan/executive_summary_fc.php#ixzz1gEUppQdh SWOT Analysis The following SWOT analysis captures the key strengths and weaknesses within the company, and describes the opportunities and threats facing Sigmund's Gourmet Pasta. Strengths • Strong relationships with vendors that offer high-quality ingredients and fast/frequent delivery schedules. • Excellent staff who are highly trained and very customer attentive. • Great retail space that is bright, hip, clean, and located in an upscale mall, suburban neighborhood, or urban retail district. • High customer loyalty among repeat customers. • High-quality food offerings that exceed competitors offerings in quality, presentation, and price. Weaknesses • Sigmund's...
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...Business Development Proposal BREADON RT FURNITURE MANUFACTURER PLAN Writer: Abby Tran Submitted in fulfilment of the requirements of the Masters’ degree to the University of Gloucestershire, for the degree of Master in Business Administration (MBA) Supervisor: .... 2012 Contents EXECUTIVE SUMMARY 4 Description of products 4 Business strategy 4 Competition 4 Risk analysis 5 Company Ownership 5 Start-up Summary 6 Chapter 1: Introduction 7 1.1. Rationale of Business 7 1.2. Business Opportunity Definition 7 1.3. Scenario Selected 8 1.4. Business objectives 9 Chapter 2: The Business Concept 10 2.1. Brief Discussion of the Business Idea: 10 2.2. Business Objectives 10 2.3. Mission 11 2.4. Keys to Success 11 2.5. Product Description 11 Chapter 3: Feasibility 14 3.1. Primary and secondary market research 14 3.1.1. The UK market 14 3.1.2. The UK Domestic Production 16 3.1.3. Third Party Importing Activities: 17 3.2. Feasibility 17 3.2.1. Products Positioning 17 3.2.2. Industry/Market: 18 3.2.3. Organizational 19 3.2.3. Financial Feasibility 19 3.3. Resource requirement evaluation 21 Chapter 4: Strategic Analysis and Business Model 23 4.1 Strategic Analysis of the business idea 23 4.2 SWOT analysis 24 4.3 Sources of competitive advantage and sustainability 26 4.4 Selection of strategies for success 26 4.5 Development of appropriate Business...
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...This essay identifies and discusses the appropriate market segmentation criteria for manufacturer of household furniture for homes. Firstly, the terms of marketing and marketing segmentation will be defined. The discussion will dwell on the step of market segmentation which are the bases for segmenting consumer market, this include the geographic base, demographic base, psychographic base and behaviorist base. The easy will also explain how marketers can cover the whole market through undifferentiated, differentiated and concentrated marketing. Lastly, in conclusion, will summarize on how a manufacturer of household for homes segments the market. Marketing is the one key functions of management which is largely concerned with what is going out of the organization than what is happening internally. Marketing involves a set of well integrated activities in which the organization resources are directed to opportunities in the environment and these opportunities include: customer needs, technological breakthrough and failures of competitors. Kotler, P (2003) defines marketing as a process of planning and executing various activities including pricing, promotion, distribution with the aim to create exchange that satisfy individuals and organizational goals. The social definition of marketing is the process by which individuals and groups obtain of what they want and need through creating, offering and freely exchanging products and services that are value to others. According to...
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...Company Description IKEA started up with the woods of southern Sweden with the inspiration by the founder at 1943 in Switzerland. The founder of IKEA is Ingvar Kamprad. The company name is inspire by the first letter of the name of founder, Ingvar Kamprad (IK) and the name of the place that he grew up, Elmtaryd and Agunnaryd (EA). IKEA’s vision is “to create a better everyday life for the many people” (IKEA/MY/EN, 2014). Besides that, the company’s business idea is to offer a wide range of well designed, functional home furnishing products at affordable prices so there will be many people able to purchase them (IKEA/MY/EN, 2014). Now, IKEA had established in about 40 countries with 345 stores, such as France, China, United States and so on and it’s still growing. IKEA is positioning as good quality furniture with low price. IKEA is known as a values driven company with a passion for life at home (IKEA /GB/EN, 2014). IKEA has offers varieties of home furnishing products with affordable price to people. IKEA furnishing products are designed to let customers easy to carry back to home and install it by themselves. IKEA promote that the furnishing products provided is a way to a beautiful home to fulfill with love and make life better. IKEA’s stores decorated in a way that how actual home look like. This design is making for the convenient of people to get inspiration on what to put in their home by choosing the products they want. IKEA’s furnishing products can be classified...
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...core component of a market analysis. It projects the future numbers, characteristics, and trends in your target market. A standard analysis shows the projected number of potential customers divided into segments. The facts are sobering: the majority of small businesses fail within five years of starting up. While there are many reasons that businesses fail, including some that have nothing to do with an owner's skills, it’s also possible that many of those same businesses collapsed simply because they couldn’t get enough customers to buy their product or service. In other words, the owners founded their business on a strategy of “build it and they will come” where, unfortunately, the customers never came. In fact, a recent study undertaken by the Blackbox seed accelerator found that many tech start-ups failed because they focused more on their product than on their potential customers. 1.2 Ask the right questions As a first step to determining the potential market for your new product or service, you want to focus on asking a couple of questions of yourself first, says Victor Kwegyir, a business consultant, business motivational speaker, and author of The Business You Can Start: Spotting the Greatest Opportunities in the Economic Downturn. Some of the questions you may want to begin with, Kwegyir says, include: a) Is this product or service I have in mind going to satisfy a market need? b) Who are my potential customers, and where can they be found? c) What competition is out there...
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...Ingvar Kamprad who was a resident of Sweden. He had started doing his business in 1943 at the age of 17. He opened a start up of his own of selling furniture. He had to face heavy resistance initially when he had tried to sell his furniture due to a price war with their main competitors. Finally IKEA made the decision to produce its own furniture due to competitors trying to force suppliers to boycott IKEA products. They also contacted independent makers and sources in Poland to help them out. And their products gained tremendous response. By 1961 , its turnover went over 40 million US $.Slowly yet steadily it expanded . Its features and concepts such as Self Service, Low charges, Cash and Carry added new dimensions to IKEA. By virtue of its impeccable marketing ,planning and other strategic steps, IKEA became world leader in production and export of Swedish furniture. Employees had been given due freedom and bureaucracy was discouraged. In due course of time, it became an international brand with its off shore operations in USA, China, Canada etc. In a nutshell, IKEA followed its basic idea of “Retail in Detail” to provide customer satisfaction and hence it became one of the best companies in the world. Strategy of IKEA • Self Assembly features cuts operational and transportation costs • It concentrated on individual marketing rather than mass marketing • It focussed on diversified business and gave varied options to customers • It took serious care of its suppliers and...
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...* * * * * IKEA Marketing Mix Marque Robinson Marketing/421 08/23/2012 Valerie Vann (Doctoral students must include the Following on the title page instead: Title, author’s name, and institution name) * * * * * * * * * * * * The history of IKEA starts in 1926 in Southern Sweden when the founder Ingvar Kamprad started selling matches to neighbors. While selling matches in bulk for cheap in Stockholm and re-selling them at a lower price than his competitors, therefore, he expanded his portfolio by selling flower seeds, greeting cards, Christmas decoration, pencils, and pens. * The placement of IKEA is a multi level distribution system that distributes its products to its customers without any channel intermediaries, in which; IKEA uses many ways of reaching its customers. IKEA distribution channel analysis is critical to the company, because of their channel of influence he price they charge for their items, by using a channel sketch to insight on retail prices that must be charged to make a profit from their products. Within IKEA distribution channel, performs functions, takes its margin, and sell their products to the next closes consumer. Therefore, Ikea channel powers are crucial to the success of the company in terms of researching where to sell their stylish products. * Ikea four P’s of marketing is simple. Ikea uses the market and differentiation so they can distinguish...
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...the early 1970s, IKEA became the largest retailer in Sweden. For the first time, a company changed the concept of furniture. They revolutionized the idea of simple-using furniture. This has been a market niche they entered during the early 1970s, which had an effective impact since furniture retailing did not work well. In addition, IKEA was able to offer the same quality or even better than other Swedish furniture manufactures for a much lower price. This was the first competitive advantage they had at that point; decent quality and low price. Another aspect that led to IEKA’s advantage was that at that point in time, Europe had a much smaller market, meaning it was easy to enter. The key success factors for IKEA were that they have been able to control the customer traffic at the checkouts and the merchandise pickup areas. This was allowing customers to pick up flat-packed furniture to so easily transport it to their homes, while saving maintenance costs. In addition, damage occurred during the transport minimized after flat-packing. The other key success factor was that they were able to compete with their prices in the market that turned them to a leading company in this business. 2) IKEA’s success of entering the European market was due to the low competition. Furniture organizations weren’t that developed and efficient, compared to IKEA. In addition, being part of Europe, the company had a good understanding of what the taste of its neighbor countries was like. Strategically...
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...Dawn’s Office Supply Strategic Marketing Plan AJK Marketing Consultants Altha Murray, Jeanene Francis, Jeff Logsdail, & Kim Fletcher University of Baltimore MTKG 497: Selling Concepts and Strategies Professor: Brad Fountain April 23, 2010 Contents I. Executive Summary 1 II. Company Background 2 III. Challenge 3 IV. Situation Analysis 4 Internal: Ineffective Company Website 4 External: Decreasing Sales & Customer Retention 4 Internal: Low Brand Identity & Equity 5 Business to Business 6 Market Analysis 7 Competitive Landscape 7 Competitors 7 Furniture & Room Design Services 8 Social & Cultural 9 V. Market Segmentation 11 Description/Percent of Sales 11 Target Effectors 11 VI. Alternative Marketing Strategies 12 VII. Selected Marketing Strategy 13 Website Improvements 13 Price promotion 13 Outsourcing & Specialization of Customer Service Expertise 13 Furniture Design Service 14 Automatic Re-Ordering System 15 Toner Recycling – Add “Green” Value 15 Increase Brand Awareness 16 Refurbish Logo 16 Join Trade Associations 16 VIII. Short & Long Term Projections 17 First Year Goals 17 Two Year Goals 17 Table 2. Marketing Plan Budget and Calendar 17 IX. Conclusion 18 Works Cited Executive Summary The company was founded in 1947 by a disabled Marine veteran, Thomas Kennedy, who believed in providing quality office...
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...internship report of Partex INTERNSHIP REPORT Partex Furniture Industries Ltd. (A Partex Star Group Company) REPORT ON ‘MARKETING STRATEGY OF PARTEX FURNITURE: A STUDY OF PARTEX FURNITURE INDUSTRIES LIMITED’ Prepared for: Md. Shahin Ahamed Chowdhury Lecturer Department of Business Administration Dhaka International University Prepared by: Md. Ershadul Haque Class Roll No: 11 Registration No: 209181 18th Batch Program RMBA 1Year Major in Marketing Dhaka International University Submission Date: February 26, 2011 Letter of Transmittal February 26, 2011 To Md. Shahin Ahamed Chowdhury Lecturer Department of Business Administration Dhaka International University Dear Sir, It is my pleasure to hand you the Internship Paper for PARTEX Furniture Indus. Ltd. The Subject of my analysis is Partex Furniture, one of the concerns of the Partex Group- a renowned national conglomerate. The study encompassed, a through analysis of Problem and Pattern of Partex Furniture. I have completed my analysis of the current situation with recommendation that is believed to be fruitful for the concern of the conglomerate. I would like to thank you for providing me with the opportunity to conduct a study such as this, which...
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...IKEA Executive Summary Founded in 1943 by entrepreneur Ingvar Kamprad, IKEA first began with sales of inexpensive products such as pens, watches, and jewelry. Soon after, IKEA started selling furniture and published a catalog in 1951. With its Scandinavian and contemporary style, IKEA's business model of furnishing simplicity and do it yourself furniture has taken the company from a catalog based company to a multimillion dollar company. The company has grown to over 253 outlet stores in 37 countries and making itself known as a global brand of do it yourself furnishings at a lower cost than most furniture retailers Marketing strategies IKEA’s success is based on principal marketing strategies that remain the same throughout the world, which include a catalogue that is printed in 52 editions in 27 languages and has a worldwide circulation of 200 million copies, and the use of the colors of the Swedish flag blue and yellow in the IKEA logo. This is combined with an emphasis on customer freedom and choice with regard to buying and taking home products, and low prices intended to create a “sale” mentality amongst customers. This aggressive price strategy coupled, with a wide product range catering for every potential lifestyle and life stage of a consumer, can best summarize the company’s recipe for success. The fact that IKEA targets all age groups and households makes it an attractive proposition to a wide spectrum of most countries’ consumers, especially amongst depressed...
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...children bed rooms, classrooms, daycares and study rooms named as the MINORS’ KINGDOM. The name is chosen in order to position ourselves in the minds of our customers as aiming to decorate their children dreams and make their learning and development more fun, colorful and enjoyable. Our office is located in DHA phase, Sector C, Commercial area as a double story building. Names and address of Principals: Director: Ms. Amna Ghias Marketing Director: Ms. Noor Kazi CFO: Ms. Kisa Talib Design Assistant: Ms. Atruba Zafar Marketing Assistant: Mr. Moiz Khaid Consultant: Mr. Sareer Khan Nature of Business: Minors’ Kingdom is an interior decorating business focusing on children. We plan to invite our target market to decorate their children rooms with the best and the most appealing Disney themed furniture and all accessories. This also includes all the cartoons that are on air and are preferred by our clients. We not only offer pre-set packages to make rooms more fun but also facilitate our clients to customize on our website whatever characters, furniture and accessories they will like to choose from among a great variety offered by our team. We aim to provide the exact and best quality services to our customers at their doorsteps within time. Statement of Financing needed: In order to officially launch our business, we have calculated to raise a capital of Rs. 16, 47,400. It would be best if we raise it through debt to...
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...INTERNSHIP REPORT Partex Furniture Industries Ltd. (A Partex Star Group Company) REPORT ON ‘MARKETING STRATEGY OF PARTEX FURNITURE: A STUDY OF PARTEX FURNITURE INDUSTRIES LIMITED’ Prepared for: Md. Shahin Ahamed Chowdhury Lecturer Department of Business Administration Dhaka International University Prepared by: Md. Ershadul Haque Class Roll No: 11 Registration No: 209181 18th Batch Program RMBA 1Year Major in Marketing Dhaka International University Submission Date: February 26, 2011 Letter of Transmittal February 26, 2011 To Md. Shahin Ahamed Chowdhury Lecturer Department of Business Administration Dhaka International University Dear Sir, It is my pleasure to hand you the Internship Paper for PARTEX Furniture Indus. Ltd. The Subject of my analysis is Partex Furniture, one of the concerns of the Partex Group- a renowned national conglomerate. The study encompassed, a through analysis of Problem and Pattern of Partex Furniture. I have completed my analysis of the current situation with recommendation that is believed to be fruitful for the concern of the conglomerate. I would like to thank you for providing me with the opportunity to conduct a study such as this, which help me to gain a deep insight into the activities of the business in complement with the theoretical knowledge provided by Md. Shahin Ahamed Chowdhury. I hope that you enjoy reviewing this report as much as...
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...requirements for raw materials, finished goods and/or personnel Forecasting product, customer demand or other activity is one of the most inexact functions in management. An individual has to understand and evaluate the external environment where there is considerable uncertainty including the market, clients, and changing technology. Poor forecasting of client needs by the marketing department often is the reason for slack production planning and as a result contributes to friction between marketing and production personnel. \ A medium – range forecast is one that covers about three months up to one year. In this case it would include forecasting items such as: Sales plans, production plans and operating cash budgets. Forecasting technique used in this case study is time series. A time series is historic or past date that have been collected over a regular period of time, representing a certain activity. The time series in this case study illustrates the movement of variables such as cash flow. Cyclone Furniture Company was constantly forecasting optimistically setting impossible budget which made it difficult for the company to make sales target. Although the factory is clean and tidy, workers seem cheerful and take pride in their work; there is an issue of over...
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... Internship Report On Experiential Retail of OTOBI Ltd. BUS-400 Submitted To: Suman Paul Chowdhury (Main Advisor) Senior Lecturer BRAC Business School Submitted By: Shahriyar Hasan ID: 05304052 BRAC Business School Mahmudul Haq (Second Advisor) Assistant Professor BRAC Business School Date: 9th May, 2010 Executive Summary After getting the four years theoretical knowledge in BBA it is very interesting to match with the practical experience. And this Understanding practical implications and applications is the next step in the learning process after studying the theoretical concepts of a particular topic. This report is on the Experiential Retail of a well-known business organization “Otobi” which is the first Multinational Company in Bangladesh. In writing this report I came to know about different facets of Retail business and creating the brand equity about the Brand “Otobi”. In recent years, discussions on the growing economic importance of experience-based consumption have become a dominant theme in literature where consumer preferences are of concern. An increased focus on experiences is also evident in the retail sector of Otobi as it has been suggested that it is important to create emotionally engaging experiences for in-store consumers. Several research articles concerned with ‘‘experiential retailing’’, ‘‘entertaining experiences’’ ‘‘entertaining and shopping entertainment’’ have also been published in recent years. However, whereas the focus on experiences...
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