VoIP Business Plan and Marketing Strategy

The assignment requires the creation of a business plan for a VoIP service provider in the UK. The plan should include details on finance, planning, production, marketing, and sales strategies. The company aims to become one of the top service providers in the VoIP industry in the UK and eventually globally. The plan covers various aspects such as sending introductory letters, bidding on government projects, advertising through magazines, newspapers, TV stations, radio stations, and listing on yellow pages ads.

G&S-Comms

Introduction:
Business plan is considered as the written
document which mainly describes the
nature of the business, the sales and the
marketing strategy (Entrepreneur staff,
n.d.). It also states the financial background
which reflects he projected profit and loss.
In other words, it is a road map which
provides directions so a business can plan
its future and get prepare to deals with the
issues occurred on their way.

Company overview:
G&S Business Communications is the entity
which helps their clients in compete the global
market which mainly demands smarter thinking
and purposeful innovation. By developing the
strategic public relations and marketing
communications programs, this organization
builds strong relationships for other business
organizations (their clients) and brands along
with the complete value chain. They mainly
help their clients in increase their sales and
enhance reputations (G&S, n.d.).

Strategic management practices:
The most general link between the entrepreneurship and
strategic management are opportunities. Opportunities are
considered as important part of both the concepts. In
other words, organization can create the value for
business by identifying different opportunities in their
external environment, and also by developing the
competitive advantages to exploit these opportunities
(Kraus and Kauranen, 2009).
Various things are required for the purpose of expertise in
the VoIP industry such as organization requires knowledge
related to the delivery of standard services, it also matters
how organization network with the important peoples, and
decision makers that can decide who will get a voice over
internet protocol contract (Dorf & Beyers, 2008).

SWOT analysis:
Strength: G&S manage to hire and retain best marketing experts for
the purpose of handling the sales and marketing strategy. Sales and
marketing team of the organization will be recruited by the
organization on the basis of their vast experience in this industry.
Weakness: as stated above, competition in this industry is very high
and big players of this industry already hold big share of market.
Organization might take some time to break the market and gain
acknowledgement and acceptance in the organization.
Opportunities: this industry consist large number of opportunities
for both small and medium size business organizations because there
are number of individuals and business organizations who are
adopting these services and operations of some business
organizations are directly depend on the services of the voice over
internet protocol (VoIP) companies.
Threat: similarly like other corporate organizations, G&S is also
facing the threat related to the economic downturn.

Finance and investment model:
Financial model:
Amount or cost of set up of new venture clearly depends on the approach
and scale that organizations wants to consider. If organization wants to
set up a business at big scale then there is requirement of large amount
of capital and if organization wants to start their business at low scale
then less amount of capital is required (George & Bock, 2011).
Investment model:
G&S is considered as sole financier of the business, and following means
can be adopted by the organization for the purpose of generating start-up
capital:
Organization can use their market resources for the purpose off
generating funds. Organization can also generate start-up capital from
the bank as loan.
While arranging the business loan, it is necessary for organization to
consider different factors and compare them such as interest rate,
security, time of payment, etc. (Morris, n.d.).

Source of Income:
This organization is established for the purpose
of maximizing the profits in the VoIP industry and
for this purpose they take all the necessary
actions for meeting the objectives of the
organization and expectations of the customers.
There are number of ways through which
organization can generate income by offering
services in this industry, and some of these ways
are nomadic VoIP, static VoIP, VoIP over the
PSTN, and other voice over internet protocol
(VoIP) related advisory and consultancy services.

Market Trends:
Because of the minimum cost and less
maintenance requirement by the voice over
internet protocol VoIP services providers, and
there are number of organizations which are now
increasing the services provided by them. This is
considered as good choice for the organizations
which are converting the transactions of the
organization from traditional business
transactions to technological transactions.
Enterprises which are small and medium always
prefer those cloud services which are externally
managed and delivered (Cision, 2017).

Target Market:
There are number of areas which can be targeted by
the G&S while conducting their VoIP services such as
they can target both corporate organizations and
individual clients who might be not successfully run
their business without the services offered by the
VoIP organizations. On the basis of market evaluation,
G&S can approach different peoples and
organizations such as Website designers and IT
specialists, banks, insurance companies, other
financial institutions, blue chips companies, corporate
organizations, manufacturers of the products,
distributors of products, owners of real estate,
developers, contractors, etc.

Sales and marketing
strategy:
The main aim of our organization is to become one of the top most
service providers in VoIP industry in UK and because of this we
frame our strategy that will help us in taking the advantage of the
available market and also grow to become the major force across
the globe. For this purpose organization is adopting following
marketing and sales strategies in UK:
 Organization can send introductory letters along with their
brochures to their clients for the purpose of introducing their
company.
 Organization can also bid in the government projects and
corporate organizations.
 Organization must advertise their business in reliable magazines,
newspapers, TV stations, and radio stations. They can also list
their business on the yellow pages ads.
 Attend relevant international and local exposures, seminars and
business fairs.

Conclusion:
After considering the above facts, it can be said
that above sated business plan cover all the
necessary requirements stated company required
for setting new business in VoIP industry in UK. As
defined, business plan is the written paper which
is framed after valuating all the necessary
components of entrepreneurship such as finance,
planning, production, marketing, etc. In other
words, it can be said as a road map which
provides directions so a business can plan its
future and get prepare to deals with the issues
occurred on their way.

References:
 Amit, R. and Zott, C. (2001) “Value creation in E-Business”, Strategic Management Journal, Vol. 22,
No. 6, pp. 493-520.
 Cision, (2017). Global Hosted PBX Market - Industry Forecast to 2025 - Trend Toward VoIP Service
Continues. Available at:
https://www.prnewswire.com/news-releases/global-hosted-pbx-market---industry-forecast-to-2025---
trend-toward-voip-service-continues-300512904.html
. Accessed on 23rd March 2017.
 Coen, M. (2018). 5 Must Watch Trends for Enterprise VoIP in 2018. Available at:
https://www.westuc.com/en-us/blog/hosted-voice-networks/5-must-watch-trends-enterprise-voip-20
18
. Accessed on 23rd March 2017.
 Dorf, R., Beyers, T., (2008) Technology ventures: From idea to Enterprise, New York, McGraw-Hill.
 EFRAG, (2013). The role of the business model in financial statements. Available at:
https://www.efrag.org/Assets/Download?assetUrl=%2Fsites%2Fwebpublishing%2FSiteAssets%2FBu
siness%2520Model%2520Research%2520Paper.pdf&AspxAutoDetectCookieSupport=1
. Accessed on 23rd March 2017.
 Entrepreneur staff. Business plan. Available at:
https://www.entrepreneur.com/encyclopedia/business-plan. Accessed on 23rd March 2017.
 G&S. About us. Available at: http://www.gscommunications.com/about-us/. Accessed on 23rd March
2017.
 George, G. and Bock, A. (2011) “The business model in practice and its implications for
entrepreneurship research”, Entrepreneurship Theory and Practice, Vol. 35, No. 1, pp. 83-111.
 Kraus, A. & Kuranen, D. (2009). Strategic management and entrepreneurship: Friends or foes?.
Available at:
http://www.business-and-management.org/library/2009/4_1--37-50-Kraus,Kauranen.pdf. Accessed
on 23rd March 2017.