Entrepreneurship: Business Plan for Mate Consultants & MYER Sales

This document presents a comprehensive business plan developed by Mate Consultants with a primary focus on enhancing sales for MYER and outlining strategies for two additional companies. The plan details market research, project-based consultation, and the creation of business and marketing plans. It emphasizes the importance of strategic alliances, market penetration through competitive pricing, and building strong relationships to sell market knowledge. Key components include market segmentation, competitive strategies, promotional tactics centered around public relations and networking, and a SWOT analysis to identify strengths, weaknesses, opportunities, and threats. The venture's financial viability depends on the owners, with a breakeven analysis based on service prices and a consideration of administrative expenses. This detailed plan leverages theories of organizational innovation and creativity to transition into a successful entrepreneurial venture.

Entrepreneurship Business Plan
Mate Consultants – Mate
for Life

General Description of Business
 The business services include market research, preparing
research report, project based consultation, business and
marketing plans for MYER.
 Mate Consultations is in the stage of development, however once
the company is stable, there is a wide scope for expansion.
 The services of networking might be offered to the consultants
that are outside Melbourne and would expand into the
surrounding regions which would demonstrates the
entrepreneurship of Melbourne city

GOALS AND OBJECTIVES:
 The goal is to suggest MYER to bring into more branches with lower price and increasing
more number of customers that would help in increasing more customer by translating the
demand to income.
 Obtain profit within 12 months of business operations.
 To perform the feasibility study in every regions of eighteen months in advance of entering
into the market.
 To provide selected set of consultancy with proactive approach in seeking market
opportunity, developing new products and entering in the distribution of new products and
new market segments

Possible Market Opportunities
• Presently, profit margins in the consultancy industry is
relatively higher.
• The present drive and focus placed by the government on the
diversification of the industrial base away from the mineral
sector offers an opportunity to Mate Consultations in making
a valuable contribution towards attaining such goals.
• The industry is presently experiencing a strong growth in the
unsurpassed economy.

VALUE PROPOSITION:
 Customer focus and cooperation:
 Engineering Excellence:
 Cost effectiveness:
 On time delivery:

Marketing and Channel Strategy
 Mate Consultants aims to sell its company as the separated strategic ally and not
simply its services.
 Mate Consultants would look employ the market penetration through the lower prices
and where required it would also implement premium pricing in situation of higher
quality services.
 Mate Consultants primarily aims in selling its relationships more than the service.
 Mate Consultants aims to sell access to quality and market knowledge.

MARKET SEGMENTATIONS:
• Content Marketing that would appeal the target audience with the
objective of attractive visitors to the website
• Media marketing services that would make big effect on the sales figures.
• Creation of personal relations.
• Introduction of new product and services

Competitiv
e strategy
and
Positionin
g: The low cost product strategy would be based on the
product or services at the lowest conceivable price. The differentiating strategy is based on the learning
the necessary features and attributes that are vital to
the most the consumers and later adding those
attributes in the product. The expertise of the Mate Consultants lies in the
capability of listing into the business owners and
perceiving their visions for the company over the
period.

Strategy Implementation
– The company is presently building the image and awareness with the help of
constancy and uniqueness in its service provision.
– Mate Consultants aims to provide quality service and end product that would in
turn boost up the online retail sales of Myer and ultimately generate revenue.
– Mate Consultants aims to also implement the relatively heavy personal selling
elements to its marketing.
– The company would implement the strategy of advertising in numerous social
media as well.

PROMOTIONAL STRATEGIES
•PUBLIC RELATIONS AND NETWORKING IS REGARDED AS THE CRUCIAL FOR
THE SUCCESS OF THE MATE CONSULTANTS.
•MATE CONSULTANTS WOULD PLAN TO IMPLEMENT PUBLIC RELATIONS AND
NETWORKING ACTIVITIES ACCORDINGLY
•THE COMPANY WOULD REQUEST FOR WRITTEN TESTIMONIAL WITH THE
BEST CUSTOMERS AND PUBLISH THE SAME IN THE BROACHERS AS THE
PROMOTIONAL STRATEGIES FOR DEVELOPING PUBLIC RELATIONS.
•MATE CONSULTANTS BELIEVES THAT BETTER PUBLIC TECHNIQUES ARE VITAL
FOR THE SUCCESS OF THE MYER IN BOOSTING UP THEIR SALES.

Target Market Segmentation
Strategy
 The marketing strategy of Mate Consultants would be based on particularly on the
making of right information that are available to the right target customer.
 Mate Consultants makes sure that price of service takes into the consideration the
budgets of the people and that the customers appreciate the services.
 The market strategy of Mate Consultants would convey the sense of quality in every
picture, every promotion and every type of publication.

SWOT ANALYSIS
• The strength lies in the strategic segmentation of market and application of
strategies.
• Introducing the new organizational practices and personnel that have not
worked previously together lay down the challenge for the organization.
• The present drive towards localization would result an increase in the
number of local customers.
• New market strategies and tactics for the developed and established firms.

VRIO Analysis
– Myer customer focus image is the main source of competition for the brand.
– The customer base for Myer is low and this could be viewed as the major
disadvantage for the e-commerce band.
– The market presence of Myer is also viewed as the source of major
disadvantage.
– The company sells wide range of products and services and the number ranges
to hundreds of products for different categories of companies.

FINANCIAL ASSUMPTIONS:
• THE FINANCIAL VIABILITY OF THE VENTURE IS ENTIRELY RELIANT ON THE
OWNERS.
• THE BREAKEVEN ANALYSIS IS BASED ON THE SERVICE PRICES.
• PAYROLL TAXES WOULD BE IMPLEMENTED ON QUARTERLY BASIS AND THE
EXPENDITURE THAT WOULD BE INCURRED WOULD BE MAINTAINED ON DAILY
BASIS.
• THE BUSINESS HAS SUBTRACTED 20% OF THE COSTS FROM THE REVENUE
FOR ADMINISTRATIVE EXPENSES.

THANK YOU