Determine which business in one's area is franchiseable—what could be done to help this business assess its market? What niche is it filling? What steps are most important? Why?
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Determine which business in one's area is franchiseable—what could be done to help this business assess its market? What niche is it filling? What steps are most important? Why?
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Solved in 6 steps
- Promotion: How does the franchise wish to position itself? Does it work?As would-be entrepreneur, you are tasked to identify your dreamed business, one that involves your interest. Indicate who are your potential market, target market, available market, and/or penetrated market.(1) In your everyday consumer interactions, would yourather do business with a sole proprietorship or acorporation? Why? (2) What would be the potentialadvantages and disadvantages from a consumer’spoint of view?
- One of your friends is contemplating opening food cart near your campus. She seeks your advice about size of the prospective customer base and how to market the business according to the 7 Ps. What strategies can you share with your friend to assist in launching the business?One of your friends is contemplating opening school supply store near your campus. She seeks your advice about size of the prospective customer base and how to market the business according to the 7 Ps. What strategies can you share with your friend to assist in launching the business?One of your friends is contemplating opening coffee shop near your campus. She seeks your advice about size of the prospective customer base and how to market the business according to the 7 Ps. What strategies can you share with your friend to assist in launching the business?
- Write an expository essay about how to successfully pitch a new business in the markethow does coke use celebrity endorsements in their marketing strategy to draw customers?Assume yourself as a businessman who just opened a new business venture. How would you promote your products so as to attract customers?