This research paper focuses on the management of a small enterprise and the development of an online app for renting luxury cars. It discusses the sales and marketing plans, operational plans, and the benefits of the app. The target customers are high-income earners who wish to rent luxurious cars.
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Running head: BUSINESS PLAN1 Management of small enterprise Name Institution
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BUSINESS PLAN2 Abstract The research paper focuses on the management of the small enterprise, thus creating an online app that allows customers to rent luxury cars from the owner who is willing to rent out their luxurious cars to such customers at a cost. The technological app to be developed will create a platform where all the related business transactions thus concerning renting of luxurious cars will be done rather than physical performing the transaction which to some extent is costly and time- consuming to the customers. The business plan for development and management of an online app will focus on the sales and marketing plans which will be adopted in order to market the newly developed app to the targeted customers, suppliers, advertising and promotional associated cost and pricing and distribution of the online app. Operational plans on how the app will be operated in order to meet customers’ satisfaction based on the business location, advantages of the new app and technological and environmental aspects associated with the app.
BUSINESS PLAN3 Development of an online App The proposed online App that is intended to allow customers to rent luxury cars from the owners by creating a platform that will enable the two transacting team to carry out their renting business with ease. The process is believed to be secure and costly to both teams since all transaction is done via the app will be recorded automatically for future reference in case of misunderstanding or breach of the renting contract by either party.(Carter & Jones-Evans, 2006). Marketing of every newly invented or developed product in the market is necessary since it will help to promote the brand's name and makes the App readily accessible by the targeted market. Sales and marketing plan associated with the newly developed app for renting luxurious cars from owners is considered the main section of the business plan since through marketing targeted customers will get to know the existence of this newly developed app in the market and also it aids to boost the usage of the newly developed application. Associated sales and marketing plans with the creation app include customers, suppliers, adverts and promotions, pricing and distribution of the app and also customer service policies in case there is complains or need for clarification about the app to the customer.(Carter & Laycock, 2016). The operational plan for the newly proposed app includes the business location and requirements to be met and also the benefits associated with the app. Environmental aspects under which the app is convenience and technology requirements for the use and installation of the app is also necessary to ensure smooth operation of the App.
BUSINESS PLAN4 Sales and marketing plan Marketing process of a new product in the market will aid in promoting the sales of that product and also attracts new customers or users which are an added advantage to the developers or manufacturers of those products. The following are some of the related sales and marketing plans for a newly proposed app. Customers These include the targeted group of people who are interested in hiring luxurious cars in order to meet their daily communication needs. The targeted customers for the newly proposed app are the high-income earners or the well-off individuals in the society who may wish to hang around the town with such luxurious cars.(Armstrong, Kotler, Buchwitz, Trifts & Gaudet, 2015). Another targeted group of users of the newly proposed app are the car owners who always purchase such luxurious cars thereafter rent them on a daily or weekly basis depending on their terms of renting. The app is believed to be useful to the car owners since they will have a platform where they can directly chat with the clients without incurring travelling or meeting expenses with the client. According toJohnson & Matthes (2018), customers will always improve the sales output of a particular productsince they are the targeted market population. Table 1: customer targeted for the App Age group30-50 years Financial statusWell off genderBoth gender qualificationsliterate
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BUSINESS PLAN5 Marital statusEither Job descriptionemployed No of children2-3 Income per monthOver $10000 Suppliers In relation to the newly proposed app, suppliers have been referred to those individuals who are employed by the organization to help in installation and educating members of the public on the use and benefits of the newly proposed app. They comprise of the professionals in the field of information and technology with a better understanding of the newly proposed app based on its users and application in a communication system between the luxurious car owners and the interest individuals who are able to rent such cars.Kotler, Burton, Deans, Brown & Armstrong (2015) argued that suppliers always contributes a lot in the marketing of the new products in the market since they are able to reach everybody and inform them about the new products in town thus for this case is the newly developed app which eases the renting procedure of the luxurious carsdue to its unique feature of designed platform for communication between the contracting party.
BUSINESS PLAN6 Supplying team? NAMETERMSSERVICE 1Ann Ahmed40consultant 2Vikki Conzaleno30consultant 3Jinn white45Sales agent 4Lou Olowe45Sales agent 5Get Kaur40consultant NAME OR TITLE (Nº OF POSITIONS) KEY RESPONSI BILITIES QUALIFICATIONS 5Imam Sohaila- General managerOverall managementMBA and BBA -Accounting 6Blossom ThomasOperationsMBA and BBA -Accounting 7Nepal AdeleFinanceCPA and BBA - Accounting 8 Jun aid Din Marketing & Customer Service MBA and BBA -Accounting Advertising and promotion Advertisement of a product is always necessary to the producers since it enlightens the consumers on the new product in the market.(Sharma & Syam, 2018).Advertisement as a marketing plan for the new online app will make customers and users aware of the app thus resulting in increased number of users as a good number of the market population are aware of the app hence they will install the app which is an added advantage to the developers.
BUSINESS PLAN7 Promotion involves giving out discounts or incentives to the users of the app. Promotional activities will diversify the attention of many customers to the new online app following large discounts and incentives offered by the developers of the app. Through promotion strategies adopted by the app developers in an attempt to attract many customers, there will increase in a number of users of the app, thus facilitating marketing plans the company had put in place.(Hill & Alexander, 2017). Pricing and distribution Pricing plans refer to the set market price of a product by the producers which is beneficial to them and also affordable to customers. Distribution, on the other hand, is the act of availing the product to the targeted market in time and in plenty to avoid the shortage of the product in the market. According toBilgicer, Jedidi, Lehmann, & Neslin, (2015), fair pricing of the new product in the market thus price charged on the users of the newly developed app will make the targeted market population to shift to the cheaply and readily available online appwhich they can easily afford and use at their convenient time without any default which may hinder them from accessing the products. Distribution of the new online app across the targeted market will influence the marketing plans set aside since distribution of the app will make the app available to a wide range of users hence a better marketing plan for the newly developed online app for the car owners and the leasing individuals. Price schedule
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BUSINESS PLAN9 Customer service policy Goworek, McGoldrick, & McGoldrick, (2015) viewed customer service policies as the best marketing tool since the firm will have to set aside a team and policies which are used to guide the customer service desk on how they respond and handle customers’ complains.Such policies will be used in responding to customers who may want to know more about the newly developed online app and its benefit to the society and also make clarifications based on the customers’ queries. Customers service desk set aside by the app developers will help to provide necessary information to the customers concerning the installation and how one can use the app in making online communication with the car owners in order to hire their cars. They also help to educate users on how they could use the app in tracking the information about the car they want to rent. (Baker & Saren, 2016). Operating plan Operating plans related to the newly proposed online app for renting and leasing luxurious cars by the car owners refers to the business environment in which the app may be applicable following legal requirements, location of the business and installation requirements and highlighting various related advantages of using the app, technological requirements for successful usage of the application.(Wallace & Webber, 2017). Gummesson (2017), viewed operating plans to be the key determinant for the success of the business since it sates various strategies a business will use in service delivery totheir targeted customers. Online app developers operating plan will help the developers in identifying legal
BUSINESS PLAN10 operating environment under which their newly developed app could be used by the targeted market. Business location and requirements Business location refers to the geographical location of the business offices whereas business requirements are the basic tools which can be used in service delivery to the customers, for example, business requirements for the online app developers can be narrowed down to the accessibility to the internet connection since the whole process is done digitally. The location for the online app developer company is required to be in a place where it can be easily accessible to their customers who may want to visit the firm for consultancy needs or for the purchase of the app. Accessibility by the customers and stakeholders will improve its operations as the app services will be readily available to the users.(Burns, 2016). Environmental aspects Environment aspects, thus according toMcKeever (2016), refers to the legal requirements for the operation of the business which include government regulation, internal and external business structures. Government regulation on the marketing and use of the newly developed app based on the ethical issues related to the app will affect the operation of the app since they have to meet all legal requirements for smooth operations of the app company. Internal environment operating aspects includes the organization of the App developer company from employees, production resources and management body of the company as they form the operating aspects of the firm.
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BUSINESS PLAN11 Technological aspects The technological requirement on the operations of the online App is necessary for the developers since the App is technologically related as it involves online business transactions and communication where the luxurious car owners meet their clients and discuss their renting or leasing contract without physically meeting for the transaction.Scarborough (2016) argued that for the success of every business started, they have to account for the technological aspects thus changes and modifications following the global technology take over since, in most of the business transaction, advertisements and promotion are done online where social media platforms are used. Online app developer group need to check on the technological requirements to ensure better performance of the new online app. Lease details and requirements Online App for leasing and renting of the luxurious cars provides details needed by the customers who may want to rent such luxurious cars and the price charged by the car owners. The app had several advantages to the users since it is readily available and provides updated information about the luxurious cars for hire from all car hiring firms’ countrywide thus giving the user a wide range of cars and dealers to select from.it also helps the car owners to find some potential customers who may want to rent their cars hence boosting their renting business. It also saves data on personal information of the owner and the renting party so in case of misunderstanding they can be retrieved. Sources and tools used in business validation
BUSINESS PLAN12 Validating the business thus online App development, various sources were adopted in order to ensure the validity of the proposed business. Such sources involved sampling and data validation techniques which includes the following discussed sources. Euro monitor was used in validating the business since it independently provides strategic market research through analysis of the provided data as it specializes in industries and consumers. It samples data from both the consumer side and manufacturing side and gives outcome on the findings. From the research conducted using Euromonitor tool, from the table below on the need and benefit of the proposed App to the market thus both car owners; The Statista method was the first statistic portal which was used to integrate data based on particular market research. It uses the data collected on a particular project thus, in this case, is the online App on their benefits and uses across the market. Car owners geographical location Number of car owners to use the App Number of users of hired cars Eastern region2002322 Western region3451145 Southern region2347890
BUSINESS PLAN13 The data provided below using the Statista method is based on the qualification of the suppliers thus according to online App are the employees of the company with performing different roles in marketing the new online application. NAME OR TITLE (Nº OF POSITIONS) KEY RESPONSI BILITIES QUALIFICATIONS 1Imam Sohaila- General managerOverall managementMBA and BBA -Accounting 2Blossom ThomasOperationsMBA and BBA -Accounting 3Nepal AdeleFinanceCPA and BBA - Accounting 4 Jun aid Din Marketing & Customer Service MBA and BBA -Accounting Conclusion
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BUSINESS PLAN14 From the above-discussed business plan based on the sales and marketing plan and operating plans on the newly developed online App which can be used by the car owners and interest people in leasing and renting out their luxurious cars. The online app provides a platform which the two contracting parties thus the car owner and lease to transact all their business transactions and also communicate concerning the leasing and renting policies without physically meeting for the business. The business proposal of creating an online app which will provide communication platform and also enable the car owners and hires to access every detail concerning the type of car they are interested just on their mobile phone will be of more benefit to the concerned party since its less costly compared to previous methods of hiring cars from the owners.(Julien, 2018). The idea of creating a new online app which could be used by large number of business persons in developing their business is a idea since it boasts the technological advancement in the world and also ease the trade transaction for the transacting parties following its unique feature which enables all business transactions and communication to be recorded on the app for the car owners and their customers who are hiring their luxurious cars. The online app will also help to change the old market transaction platform which is considered analogue to more refined and technological way thus reducing coning cases in the market. References
BUSINESS PLAN15 Armstrong, G., Kotler, P., Buchwitz, L. A., Trifts, V., & Gaudet, D. (2015). Marketing: an introduction. Baker, M. J., & Saren, M. (Eds.). (2016).Marketing theory: a student text. Sage. Bilgicer, T., Jedidi, K., Lehmann, D. R., & Neslin, S. A. (2015). Social contagion and customer adoption of new sales channels.Journal of Retailing,91(2), 254-271. Burns, P. (2016).Entrepreneurship and small business. Palgrave Macmillan Limited. Carter, B., & Laycock, E. (2016). Managing the unknown: a plan to manage workload fluctuations and operating resources in a professional practice.Sheffield Hallam University Built Environment Research Transactions,8(1), 56-71. Carter, S., & Jones-Evans, D. (Eds.). (2006).Enterprise and small business: Principles, practice and policy. Pearson Education. Goworek, H., McGoldrick, P. J., & McGoldrick, P. J. (2015).Retail marketing management: Principles and practice. Harlow, UK: Pearson. Gummesson, E. (2017). From relationship marketing to total relationship marketing and beyond. Journal of Services Marketing,31(1), 16-19. Hill, N., & Alexander, J. (2017).The handbook of customer satisfaction and loyalty measurement. Routledge. Johnson, J. S., & Matthes, J. M. (2018). Sales-to-Marketing Job Transitions.Journal of Marketing,82(4), 32-48. Julien, P. A. (2018).The state of the art in small business and entrepreneurship. Routledge. Kotler, P., Burton, S., Deans, K., Brown, L., & Armstrong, G. (2015).Marketing. Pearson Higher Education AU. McKeever, M. (2016).How to write a business plan. Nolo.
BUSINESS PLAN16 Scarborough, N. M. (2016).Essentials of entrepreneurship and small business management. Pearson. Sharma, A., & Syam, N. (2018). Sales and customer development: An agenda for inquiry. Industrial Marketing Management,69, 133-134. Wallace, M., & Webber, L. (2017).The disaster recovery handbook: A step-by-step plan to ensure business continuity and protect vital operations, facilities, and assets. Amacom.