Unit 2 Individual Project Coursework Example | Topics and Well Written Essays - 500 words

Unit 2 Individual Project - Coursework Example My first short term goal involves offsetting the initial cost of the gift baskets. Secondly, I intend to obtain a clientele which is part of a niche market. Thirdly, I intend to be strategically located in midst of the hum of the community. Three intermediate goals include maintaining the competitive edge in the niche market; having enough cash/profit on hand to begin to repay my relatives and other financers and thirdly, employing more personnel because of the expansion of the business. My long term goals invovle: continuation of the advertising campaign, expanding the business to two other locations, online marketing is one such location and finally, developing products to the specific needs of client. The market opportunity for selling this product in my area is fantastic in that there are many individuals between the ages of 16 to 55 On analysis of the market I have discovered that there is a market niche in this age group because of the survey I conducted by randomly choosing every 10th individual on different days of the week. In addition, an online survey was conducted and the results indicate that there is indeed a need for this type of store in my area. For the customers targeted the store would be located within easy access to their daily errands of the grocery store and the train station. These individuals are so busy that they prefer to utilize a gift bag rather than the traditional wrapping of gifts. My strategy is to embark upon aggressive marketing strategies in the first year to allow these young people to know of my product and my location. I expect to gain at least a 10 percent profit in the first year of operation. The personnel employed would be young, attractive individuals who would persuade with their looks and their marketing skills which would be provided by me initially and later a marketing expert. My suppliers have already been contacted. They are willing to offer me a large discount on the initial