Start-up Business Plan

Start-up Business Plan

Imagine you started a new business as an entrepreneur in Saudi Arabia (In Continuation to the Assignment -1).

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Please, think and share information on the following items:

4. Marketing Plan

a. Market Research- Why?

b. Market Research- How? Primary or Secondary Data?

c. In your marketing plan, be as specific as possible; give statistics, numbers, and sources. The marketing plan will be the basis, later on, of the all‐important sales projection.

Product

• Describe the most important features. What is special about it?

• Describe the benefits. That is, what will the product do for the customer?

Customer

• Identify your targeted customers or your ideal customer: How many of them are there? It’s important here to be specific.

• Demographics

• Customer relationships: How do customers want to interact with the business?

Competition

• What products and companies will compete with you?

• How will your products or services compare with the competition? Identify the organization’s competitors and their strategies, along with ways to counter competition and gain market share.

• How is your target market solving their problem today? Are there alternatives or substitutes in the market?

• Investors will want to know what advantages you have over the competition and how you plan on differentiating yourself.

Strategy

• Outline a marketing Strategy.

Promotion

• How will you promote your Product?

• What will be your promotional budget?

Distribution Channels

•How do you sell your products or services?

•What are the costs associated with distribution?

 

BUSINESS NAME AND ADDRESS

The name will be HIGH TECH Computer. The name was addressed as its moral, short, persuasive and also easy to memorize.

 BUSINESSS LOCATION AND ADDRES

The business will be situated at Riyadh city.

Business address will be   : HIGH TECH COMPUTERS

P.O BOX 45

Riyadh – King Fahad road

E-MAIL: high-techComputer@gmail.com

 

Capital Investment

The business will be a sole proprietor kind of ownership, which will be owned by the managing director and with the help of a few employees. Capital will be raised as show.

 

SOURCE Amount
Owner 3,500,000
Donation from family 3,000,000
Loan from family bank 1,500,000
Donation for friends 1,000,000
Total 9,000,000

 

 

 

Form of ownership

. The business will operate as sole proprietorship type of business.

Company Business Description

The proposed business name will be registered as HIGH TECH COMPUTERS. The firm is given the name above since it will be operated by the vision of technology. The business will be located in Riyadh. The business will commence on 12th December 2021 and as it continues it is intended to expand the business as time goes on. This business will be dealing with both products and services. The reason why this business idea will be different from the others is that its aim is to enhance crisis of employment and use of local recourses and also improve local talents of youths.

Mission statement

HIGH TECH COMPUTER short term goals will be to ensure that individuals no longer have to struggle in search of computer services while the long term goal will be to ensure that everyone living in Riyadh is well equipped with technology knowledge. The company will offer services to both local client and international, those travelling and trading, especially who are willingly and can afford the set prices. The firm’s vision is to enter competitive Computer industry. It will also consider individual, commercial and institutional customers. It will cover competitor analysis, market share, advertisement, promotion strategy and more so selling price and sales tactics.

The high tech computer has good schedule that shows the duty of each staff and their responsibility at work place. The owner of the business is defined as the manager of the Computer since He has knowledge and is more skilled in programming. Qualified staff will work together with non-professional to enhance co-operation and co-operative staff. Salary and remuneration, qualifications, recruitment and promotion of new members will be catered for.

The firm will offer quality services in Information technology production to meet consumer’s satisfaction at affordable prices. Different guest will be provided with products of different taste and offers will be given to clients who will have their daily meal in the high tech Computer. Business will co-operate with famer producing available resources within the area. Set rules will have to be followed to ensure smooth running of business.

Business philosophy

Everything that my business entails appears to be essential to me. As a result of how technology is advancing everyday then this portrays my business as a growth industry. In this business I can foresee a lot of changes in terms of working space and an increase in the production rate. The strategy that I will be using in fighting with my competitors is by ensuring that I deliver only quality products and the most efficient kind of services. These objectives will include; offering quality products and of right quantity to the citizens and creation of employment to the local residents. Long-term objectives will be set to be achieved in a period of up to 5 years which will involve increasing profit, opening up new branches, create more employment opportunities, improving and promoting relationship between employees and customers. This will be achieved by welcoming ideas to enhance creativity and innovation and also having a friendly environment for the customers and employees. To achieve set objectives the business will be managed in a proper manner to ensure that the quality and quantity of the products and services are offered to the buyers.

SWOT ANALYSIS

The entrepreneur has various strength which will enhance the success of the business this strength includes:

Availability of market for the surplus products-The enterprise has got very many potential customers to whom it shall be selling its products to.

Availability of capital the enterprise has got capital which shall aid in its establishment

Availability of adequate machine-the entrepreneur shall ensure that the firm has enough machines to enable smooth running of the business. The entrepreneur business also has got its weaknesses which she shall find ways to overcome them. Some of them being:

 

 

Products And Services

The business will be mainly dealing with selling computers and printers. The business would sell high quality products at a cheaper price. The business will also offer transport services to the customers who would buy in large number e.g. computer accessories. The business will have a variety of goods to sell and offer best services to its customers. The entrepreneur shall acquire the following physical facilities of production purposes

  1. Stores
  2. Offices
  • Ablution facilities and workers

The entrepreneur will lease the facilities in short run. I choose leasing because of the following reasons It requires a minimal amount of initial capital compared to buying The entrepreneur will not inquire depression cost. No maintenance cost these physical facilities are not great important to the business because they will be accommodating the visitors and also meeting their hospitality needs. The business will be operated by 5 junior employees where each employee will have his or her own office.

 

 

Start-up Business Plan

Imagine you started a new business as an entrepreneur in Saudi Arabia (In Continuation to the Assignment -1).

 

Please, think and share information on the following items:

 

  1. Marketing Plan
  2. Market Research- Why?
  3. Market Research- How? Primary or Secondary Data?
  4. In your marketing plan, be as specific as possible; give statistics, numbers, and sources. The marketing plan will be the basis, later on, of the all‐important sales projection.

Product

  • Describe the most important features. What is special about it?
  • Describe the benefits. That is, what will the product do for the customer?

Customer

  • Identify your targeted customers or your ideal customer: How many of them are there? It’s important here to be specific.
  • Demographics
  • Customer relationships: How do customers want to interact with the business?

Competition

  • What products and companies will compete with you?
  • How will your products or services compare with the competition? Identify the organization’s competitors and their strategies, along with ways to counter competition and gain market share.
  • How is your target market solving their problem today? Are there alternatives or substitutes in the market?
  • Investors will want to know what advantages you have over the competition and how you plan on differentiating yourself.

Strategy

  • Outline a marketing Strategy.

Promotion

  • How will you promote your Product?
  • What will be your promotional budget?

Distribution Channels

  • How do you sell your products or services?
  • What are the costs associated with distribution?

 

 

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