Homework answers / question archive / Your assignment is to prepare and submit a paper on initial business idea

Your assignment is to prepare and submit a paper on initial business idea

Writing

Share With

Your assignment is to prepare and submit a paper on initial business idea. These people are those who appreciate a good healthy snack, and would have the purchasing power to patronize my products.

A specialty tea shop needs as much above the line advertisements as below the line efforts. I will select proper media exposure in local newspapers and radio stations, and would go heavy on leaflets and billboards, and in store promotions.

Target Market will be identified by first enumerating the qualities of each product to be offered. What are the products and variations to be served? What are the key benefits of these products? Do we put premium on its commercial appeal by engaging competitors in a price war and creating advertising plans that challenge the benefits of other similar products? Or do we want to maintain a certain brand image, and preserve the quality of the products notwithstanding other factors such as pricing?

Having done all these, I came to the conclusion that I would like my business to appeal to a certain niche market, but not alienating the popular crowd. I would be serving health products – specialty tea, coffee and confectionaries. I would like my target market to find appeal in the thought that they would be enjoying cost efficient but highly healthy snacks in my tea shop. My target market covers a wide age range. These may be college students who would want to spend quiet time catching up on notes and lessons while having good snacks. I also consider young professionals and adults who now have the capacity to pay for a type of snack that would greatly be beneficial to their health. Since the young professionals and adults are more health conscious nowadays due to the rise in the number of health drinks in supermarkets, they are the kind of market that would enjoy the products that I would offer.