BSB40320 Certificate IV in Entrepreneurship and New Business<\/p>\n
Term 4 2023 assignment
\nStudent Details\/ Declaration<\/p>\n
Unit of Competency\tBSBESB302 Develop and present business proposals
\nBSBESB404 Market new business ventures
\nI declare that (please tick):\t\u2612
\nI fully understand the context and purpose of this assignment.
\n\u2612
\nI am fully aware of the competency standard\/ criteria against which I will be assessed.
\n\u2612
\nI am aware of the resources I need and how the assignment will be conducted.
\n\u2612
\nI have had the appeals process and confidentiality explained to me.
\n\u2612
\nI understand that the assignment is an individual effort and that all written work is my own.
\n\u2612
\nI am aware that if I am caught with either collusion or plagiarism of another student\u2019s work, I will be penalised for academic misconduct which could result in the suspension or cancellation of my course enrolment\/ student visa.
\n\u2612
\nI understand that I will not disclose any assignment question or answer, in whole or in part, in any form or by any means before, during, or after I have submitted my assignment to Canvas on any internet \u2018share space\/ chat room, or otherwise, which will constitute a breach of academic misconduct and would result in the suspension or cancellation of my course enrolment\/ student visa.
\nStudent\u2019s Name
\nStudent ID\tECS\t\tSubmission Date<\/p>\n
Submission Deadline\t–\tPlease submit your assignment via Canvas assignment page. Submitting the assignment via comments box would be considered null and void.
\n–\tAfter the due date, Start Assignment button will not be available, and you will have to contact student services at students@eve.edu.au to arrange your assignment submission
\n–\tAssignments submitted after the due date (as stipulated on Canvas) will incur a late submission fee of $50 if submitted by the end of the scheduled feedback session on week 7\/9
\n–\tIf your assessment is marked as Not Yet Satisfactory (NYC), it is your responsibility to check the result on Canvas and contact student services and plan to be re-assessed. Re-assessments need to be submitted within the period allocated to the unit otherwise re-assessment fee of $250 per unit will apply.
\n1.
\nSubmission Notes \t–\tYou must complete your assignment by utilizing only this official assignment tool document (which features working answer\/ portfolio templates) to meet the requirements of validity principles.
\n–\tPlease check on all the boxes in the Statement of Declaration prior to uploading assignment to Canvas as an authentication procedure.
\n–\tIf you do encounter any issues with working on this document or any other matter related to academic progress, please request for Helpance from Student Services at students@eve.edu.au.<\/p>\n
2.\tAssessor Use Only\t–\tI declare that I have conducted a fair, valid, reliable, and flexible assignment with this student.
\n–\tI have provided appropriate feedback (including verifying all answer pages within this assignment either on the check box or at the answer fields as well as leaving comments in Canvas).<\/p>\n
Knowledge Criteria\tS\t\u2610
\nPerformance Criteria\tS\t\u2610
\nOverall result \tC\t\u2610
\nAssessor Initials & Date
\nNYS\t\u2610
\nNYS\t\u2610
\nNYC\t\u2610<\/p>\n
Knowledge criteria (short answer questions)\tBSBESB403<\/p>\n
1.\tExplain how the factors listed below affect the financial viability of business ventures (each answer should not exceed 30 words).<\/p>\n
–\tGeneral economic trends\tAn economic trend reflects the direction in which the economy is headed. On the other hand, economic growth refers to the increase in the production of goods and services in an economy over time.
\n–\tFinancial returns \tThe return is the total income an investor gets from his\/her investment every year and is usually quoted as a percentage of the original value of the investment.
\n–\tCost of operations\tOperating costs or operational costs, are the expenses which are related to the operation of a business, or to the operation of a device, component, piece of equipment or facility.
\n–\tChanging business technology\tTechnological change refers to the idea of improving existing technologies and developing new ones to improve the existing products and to create new products in the market.<\/p>\n
2.\tProvide a brief explanation (each answer should not exceed 50 words) of the three business risks listed below and how they that can affect the viability of your business idea, according to their level of severity.<\/p>\n
\u2022\tFinancial risks\tFinancial risk is the possibility of losing money on an investment or business venture.
\n\u2022\tHuman resources risks\tIndividual risks include: company culture, lack of talent and retention, inefficiency, reduced employee job performance, unethical behavior, reduced employee health, reduced moral support, conflicts and grievances, excessive absenteeism, workplace sabotage and other risks the company may encounter it.
\n\u2022\tPhysical risks\tPhysical risks include dangers that pose a threat to physical assets, including your buildings, equipment and people. Risks could be events such as fire, flooding, or crimes like theft and vandalism.<\/p>\n
3.\tAnswer the following question about formats and methods of business presentations.<\/p>\n
–\tList two (2) formats \tA business plan presentation is a summary of your business idea which highlights the company’s purpose, business model, funding requirements, development status, and other business essentials. A presentation template typically includes the following: Problem. Solution. Product and\/or Service Demo
\n–\tList two (2) methods\t–\tSales presentations.
\n–\tPitches to investors.
\n–\tTraining sessions.
\n–\tStatus updates.
\n–\tProject reviews.
\n–\tStrategy summaries.
\n–\tMarketing events.<\/p>\n
Knowledge criteria (short answer questions)\tBSBESB404<\/p>\n
4.\tYou are currently working as a marketing officer in Bounce Fitness. In line with your role, you must understand how to identify trends relevant to the organization (refer to 1. BSBESB302 & 404 – Case Study \u2013 Bounce Fitness \u2013 Market Research Policy and Procedures V2022.1).<\/p>\n
–\tList the eight (8) steps required for conducting market research\t1.\tClear your Research objectives.
\n2.\tDecide the research approach.
\n3.\tMake a decision about research instrument.
\n4.\tMake a sampling plan.
\n5.\tCollect all information.
\n6.\tAnalyze the information.
\n7.\tPresent the findings.
\n8.\tDecision making.
\n–\tOutline the three (3) question you must ask when designing a research sample \t1.\tWho enters the marketplace, where my products are sold.
\n2.\tWho are my respondents representing.
\n3.\tGain an accurate market research sample and get better data as a result.<\/p>\n
5.\tAnswer the questions below about communicating marketing strategies to relevant stakeholders (refer to 1. BSBESB302 & 404 – Case Study \u2013 Bounce Fitness \u2013 Market Research Policy and Procedures V2022.1 as well as 2. BSBESB302 & 404 – Case Study \u2013 Bounce Fitness \u2013 Marketing Policy and Procedures V2022.1).<\/p>\n
–\tOutline the five (5) requirements Bounce Fitness\u2019 Marketing Policy statement in relation to providing accurate information to customers.\t1.\tHonesty and integrity<\/p>\n
2.\tRespect for human research participants and the environment
\n3.\tGood stewardship of resources used to conduct research
\n4.\tAppropriate acknowledgment of the role of others in research
\n5.\tResponsible communication of research results.
\n–\tAccording to the Marketing Research policy and procedure (refer to 1. BSBESB404 – Case Study \u2013 Bounce Fitness \u2013 Market Research Policy and Procedures V2022.1), outline the ten (10) steps of the procedures for conducting focus group discussion.\t1.\tEstablish the goal of the discussion.
\n2.\tFind the appropriate leader for the discussion.
\n3.\tAssign a recorder.
\n4.\tIdentify the external source of consultees.
\n5.\tIdentify the incentives of the external source of consultees.
\n6.\tEstablish the details of the discussion.
\n7.\tPrepare questions.
\n8.\tRecruit and contact external source of consultees.
\n9.\tConduct the discussion.
\n10.\tAnalyse data.<\/p>\n
–\tOutline the seven (7) steps of the prescribed sequence to follow when conducting a focus group discussion based on Marketing Research policy and procedures (refer to 2. BSBESB302 & 404 – Case Study \u2013 Bounce Fitness \u2013 Marketing Policy and Procedures V2022.1)\t1.
\n2.
\n3.
\n4.
\n5.
\n6.
\n7.<\/p>\n
6.\tAnswer the following questions on how the marketing mix supports customer and marketing needs (refer to 3. BSBESB302 & 404 – Case Study \u2013 Bounce Fitness \u2013 Corporate Marketing Plan V2022.1)<\/p>\n
–\tExplain how the current pricing strategy is reaching target markets
\n–\tIdentify the three (3) current marketing needs of Bounce Fitness\u2019 customers.\t1.
\n2.
\n3.<\/p>\n
–\tExplain how the current customer service portion of the marketing mix addresses current marketing needs.
\n–\tExplain why the current promotion methods are used in relation to the strategy pyramids.<\/p>\n
7.\tAnswer the questions about marketing new business ventures through ethical and culturally appropriate means.<\/p>\n
–\tBriefly explain ethical appropriateness in advertising (answers should not exceed 40-word count limit)
\n–\tIdentify at least five (5) principles of ethical marketing that must be considered by a business owner.\t1.
\n2.
\n3.
\n4.
\n5.<\/p>\n
–\tBriefly explain cultural appropriateness in advertising (answers should not exceed 30-word count limit)
\n–\tExplain how an organization can exercise cultural sensitivity for each aspect of culture outlined below (answers should not exceed 30-word count limit)\tAspect of Culture\tHow Organization can Exercise Cultural Sensitivity<\/p>\n
o\tLanguage
\no\tReligion
\no\tDemographics
\no\tSocioeconomic class<\/p>\n
8.\tAnswer the questions about performance Assessment methods relating to marketing strategies.<\/p>\n
–\tBriefly explain how each cost-benefit analysis is conducted (answers should not exceed 30-word count limit)\to\tSWOT Analysis<\/p>\n
–\tBriefly explain how each cost-benefit analysis is conducted (answers should not exceed 30-word count limit; cont.)\to\tPESTEL Analysis
\no\tEarned Value
\n–\tBriefly explain how each method monitors customer satisfaction (answers should not exceed 30-word count limit)\to\tFeedback forms
\no\tNet Promoter Score
\n–\tBriefly explain how each of the following is used to evaluate marketing strategies (answers should not exceed 30-word count limit)\to\tReferrals
\no\tOrganic Reach
\no\tSecondary (desk) research<\/p>\n
9.\tAnswer the following questions about conducting market research and analysis.<\/p>\n
–\tBriefly define the two types of research (answers should not exceed 30-word count limit)\to\tPrimary (field) research
\no\tSecondary (desk) research
\n–\tExplain what type of information each method gathers for research and analysis (answers should not exceed 30-word count limit)\to\tFocus groups
\no\tSurveys
\no\tParticipant observation
\no\tInterviews<\/p>\n
10.\tBriefly explain how each digital marketing contributes to engaging, responding and monitoring customer<\/p>\n
Digital marketing tools\tCommon features\tContribution to engaging, responding and monitoring customer<\/p>\n
–\tDigital devices (answers should not exceed 30-word count limit)\to\tWeb browser
\no\tPersonal email and messaging
\n–\tDigital platforms (answers should not exceed 30-word count limit)\to\tInteractivity activities
\no\tBig data and market trends<\/p>\n
Checklist\/ performance criteria matrix for Short Answers Questions (for Assessor use only)\t \tThis is a clustered units of competency assessment.
\nInstructions to Assessors
\nThis checklist is to be used to record the student\u2019s responses to the questions outlined in Q 1 – 10. When completing this checklist, you must ensure that:
\n\u2022\tEach checklist item is assessed against the criteria listed.
\n\u2022\tAn assignment result, either a Yes or No, is recorded in one of the two columns on the right of the checklist.
\n\u2022\tFeedback is provided to the student in the assignment cover sheet and\/ or, at the Canvas commentary section.
\n\u2022\tItalic fonts represent BSBESB302 while regular fonts represent BSBESB404.<\/p>\n
Did the learner:\tYes\tNo
\nAnswer all short questions covering:\tRelating to unit\u2019s performance criteria:
\n\u2022\tExplain how the factors listed below affect the financial viability of business\tBSBESB302:
\n1.2 Research key factors influencing their financial viability*
\n\u2022\tProvide a brief explanation of the three business risks and how they that can affect the viability of your business idea, according to their level of severity.\t2.1 Identify potential risks associated with opportunity ideas and viability of business*
\n\u2022\tAnswer the following question about formats and methods of business presentations\t4.1 Determine presentation method suited to audience*
\n4.2 Provide customised business proposal to target audience*
\n\u2022\tYou are currently working as a marketing officer in Bounce Fitness. In line with your role, you must understand how to identify trends relevant to the organization
\n1.1 Identify focus of marketing activities according to business plan objectives and products and\/or services being provided
\n\u2022\tAnswer the questions below about communicating marketing strategies to relevant stakeholders\t1.2 Establish marketing objectives in consultation with required people and according to business plan and workplace procedures
\n\u2022\tAnswer the following questions on how the marketing mix supports customer and marketing needs\t1.3 Identify customer base, target market and competitors according to identified marketing objectives
\n\u2022\tAnswer the questions about marketing new business ventures through ethical and culturally appropriate means.\t1.4 Establish and evaluate strategy to ensure ethical and cultural appropriateness and alignment with customer and industry expectations
\n\u2022\tAnswer the questions about performance Assessment methods relating to marketing strategies.\t4.1 Assess business performance according to business plan objectives
\n\u2022\tAnswer the following questions about conducting market research and analysis.\t2.2 Research and evaluate costs and benefits of available distribution channels and customer service strategies
\n\u2022\tBriefly explain how each digital marketing contributes to engaging, responding and monitoring customer\t3.4 Assess use of digital devices, platforms and technologies for effectiveness in implementing marketing activities<\/p>\n
Short Answers section has met satisfactory performance requirements \t\u2610
\nShort Answers section has not met satisfactory performance requirements (please refer to the feedback on Canvas commentary section)\t\u2610<\/p>\n
Performance criteria: Case study\/ project ( help with nursing paper writing from experts with MSN & DNP degrees) portfolio\/ observation
\nThe Practical Assessment is a set of tasks that must be completed in a workplace, or in an environment with conditions like that of a real workplace.
\nTo be assessed for this unit of competency, you must demonstrate your skills and knowledge to develop and implement a marketing strategy for a business or new business ventures, addressing activities in the digital environment.
\nThe Practical Assessments in this assignment include:
\n\u2022\tWorkplace Project Assessment – A series of tasks assessing the learner\u2019s practical knowledge and skills relevant to the unit of competency. This includes the learner completing workplace documents or similar as evidence of competent performance.
\n\u2022\tWorkplace Practical Observation – A set of assessment tasks where the learner must demonstrate practical skills relevant to the unit of competency. These skills are to be demonstrated while being observed by the assessor.<\/p>\n
Case scenario
\nIntroduction<\/p>\n
Bounce Fitness was formed in 2001 in Cairns, Queensland as a corporation. Bounce Fitness is a dynamic fitness corporation poised to capture substantial market share in one of the fastest growing services industries in the country. Bounce Fitness is a Cairns corporation incorporated in 2001 and wholly owned by Margaret House. A Board of Directors has been established and the Head Office now has a team of General Manager Finance, Human Resource and Marketing, an Executive Helpant, and support staff. The Centres have a Centre Manager, Helpant Manager, and a team of various sizes composed of experts in health related and fitness disciplines. Bounce Fitness will continue to have its base of operations in Cairns (Fitness Centre and Head Office), Brisbane, Sydney and Melbourne. Bounce Fitness intends to expand their services as demand increases.<\/p>\n
The company\u2019s mission statement:<\/p>\n
The centers will serve the community with quality, comprehensive, unique and distinctive health programs and services. The employee team will expand upon the preventive services while improving the quality of life among participants through health and fitness services utilizing state of the art equipment and practices. These programs will reflect members\u2019 needs and be financially viable for all stakeholders.<\/p>\n
The company\u2019s vision statement:<\/p>\n
Bounce Fitness is committed to an expanding role as a premier provider of wellness integrated services. Through the evolvement of an empowered employee culture and the creative acquisition and use of resources, we will develop and implement comprehensive programs and services appealing to all.<\/p>\n
The owner and Chief Executive Officer, Margaret House, has extensive experience as a personal trainer, life coach, and manager of fitness centres. Bounce Fitness has set out the following objectives to achieve:<\/p>\n
\u2022\tGenerate a 10% increase in sales through boosting gym membership sales leads by the end of the fiscal year
\n\u2022\tIncrease market penetration by 15% through utilization of marketing strategies every quarter
\n\u2022\tDecrease customer acquisition costs by 4% every two quarters through the implementation of the USP strategy
\n\u2022\tContinue to cultivate the image as a premier long-term wellness program provider
\n\u2022\tExpand the business to the food industry to increase the number of customers by 10%<\/p>\n
The CEO is of the opinion, that the Company would like to explore other business avenues that has potential to gain a reputation for offering healthy entertainment in addition to healthy lifestyle choices. Ms. Margaret, has appointed you as a General Manager Marketing, to develop a business proposal and marketing plan for a new business venture, i.e., an Internet Coffee Shop.<\/p>\n
You are required to:<\/p>\n
\u2022\tReview organization\u2019s current marketing performance
\n\u2022\tDevelop a business proposal for the new business venture
\n\u2022\tDevelop marketing strategy for business venture
\n\u2022\tEstablish marketing mix for business venture
\n\u2022\tPresent marketing strategy
\n\u2022\tImplement and monitor marketing strategy
\n\u2022\tReview marketing strategy<\/p>\n
This project ( help with nursing paper writing from experts with MSN & DNP degrees) requires you to complete the assessment tasks in a real workplace, or in an environment with conditions similar to that of a workplace. Each task comes with a set of instructions. You are to follow and perform these instructions while being observed by the assessor and\/or submit any required documentation as evidence of task completion.<\/p>\n
Supplementary Case Study Materials (please use these documents to Help in your assignment)
\n1. BSBESB302 & 404 – Case Study \u2013 Bounce Fitness \u2013 Market Research Policy and Procedures V2022.1\t1 0f 6
\n2. BSBESB302 & 404 – Case Study \u2013 Bounce Fitness \u2013 Marketing Policy and Procedures V2022.1\t2 0f 6
\n3. BSBESB302 & 404 – Case Study \u2013 Bounce Fitness \u2013 Corporate Marketing Plan V2022.1\t3 0f 6
\n4. BSBESB302 & 404 – Case Study \u2013 Bounce Fitness \u2013 Corporate Marketing Plan Performance Review V2022.1\t4 0f 6
\n5. BSBESB302 & 404 – Case Study \u2013 Bounce Fitness \u2013 Business Plan V2022.1\t5 0f 6
\n6. BSBESB302 & 404 – Case Supplement – National Union of Students (Pre-Budget 2020 to 2021) V2022.1\t6 0f 6<\/p>\n
Workplace project ( help with nursing paper writing from experts with MSN & DNP degrees)\/ workplace practical observation form<\/p>\n
Candidate\u2019s name
\nStudent ID\tECS
\nObservation done\t\u2610
\nIn person (classroom)\t\u2610
\nVia remote (insert screenshot below)
\nDate of observation
\nPlease note:
\n\u2022\tInclude a Zoom Meeting Screenshot (of yourself only; strictly no group nor selfie shots) with your name in the image.
\n\u2022\tResize landscape image to fit into space provided on the right.
\nInsert your Zoom Meeting Image # 1 (own image in landscape orientation)<\/p>\n
Work activities\tThis workplace project ( help with nursing paper writing from experts with MSN & DNP degrees) assessment requires you to develop and implement a marketing strategy for a business, or new business venture, addressing activities in the digital environment.<\/p>\n
This assessment is divided into two (2) tasks:
\no\tTask 1 – Review organization\u2019s current marketing performance and develop a Business Proposal for the new business venture (BSBESB302 & 404)
\n\u2022\tActivity One – Review organization\u2019s corporation marketing plan
\n\u2022\tActivity Two \u2013 Develop a proposal for new business venture
\n\u2022\tActivity Three – Consult with relevant stakeholder for feedback and approval
\no\tTask 2 – Develop marketing strategy for business venture and establish marketing mix, implementation, monitor and review for business venture, and present marketing strategy for implementation (BSBESB404)
\n\u2022\tActivity One \u2013 Conduct marketing research to support business proposal
\n\u2022\tActivity Two \u2013 Develop a marketing plan to support business proposal
\n\u2022\tActivity Three \u2013 Present the marketing plan and obtain approval for implementation<\/p>\n
Workplace project ( help with nursing paper writing from experts with MSN & DNP degrees)\/ workplace practical observation form (cont.)<\/p>\n
Rules of Evidence (for Assessor use)<\/p>\n
The assessment submitted by the learner achieves:<\/p>\n
\u2610
\nValid (the extent to which the assessment outcome is supported by evidence where its evidence is considered valid when the learner\u2019s performance matches the performance required in a competency standard; he or she should be able to demonstrate the skills, knowledge, and attributes described in the unit\/s of competency and associated assessment requirements)
\n\u2610
\nCurrent (the evidence presented must comply with the current standards and demonstrate the learner\u2019s current skills and knowledge)
\n\u2610
\nSufficient (there should be quality, quantity, and relevance from the gathered evidence to enable a judgment based on the learner\u2019s competency)
\n\u2610
\nAuthentic (the evidence presented during the assessment should be the work of the learners and be able to verify as \u2018genuine\u2019)<\/p>\n
Assessor\u2019s Declaration<\/p>\n
\u2610
\nI confirm that the outcomes of the assessments listed above is a true reflection of the learner\u2019s competence within this unit of competency.
\n\u2610
\nI verify that the learner has sufficient evidence and information been provided by the learner to prove their competency across the entire unit.
\n\u2610
\nWhere assessment conducted with a reasonable adjustment, supporting evidence is provided.
\n\u2610
\nAll required initials, dates and feedback has been completed within the assessment.<\/p>\n
Assessor\u2019s name\t\u2610
\nJosep Aiguade\t\u2610
\nEva Busina\t\u2610
\nCherie Soto
\n\u2610
\nEugene Lim\t\u2610
\nErwan Tjan\t\u2610
\nLydia Su
\nAssessor\u2019s initials\t\tDate<\/p>\n
Task 1: Review organization\u2019s current marketing performance and develop a Business Proposal for the new business venture
\nAssuming the role of General Manager – Marketing, you are required to develop a marketing strategy for an Internet Coffee Shop by:
\nActivity One \u2013 Review organization\u2019s corporation marketing plan
\no\tReview Bounce Fitness\u2019 Corporate Marketing Plan (refer to 3. BSBESB302 & 404 – Case Study \u2013 Bounce Fitness \u2013 Corporate Marketing Plan V2022.1) and answer the following:
\n\u2022\tOrganizational current business product or service
\n\u2022\tOrganization\u2019s current marketing strategy
\n\u2022\tOrganization\u2019s current business performance
\n\u2022\tOrganization\u2019s marketing KPIs
\n\u2022\tCurrent target markets
\n\u2022\tCurrent brand positioning
\n\u2022\tOrganization\u2019s current marketing activities:
\n–\tMarket research
\n–\tPricing
\n–\tAdvertising and promotions
\n–\tCustomer service
\n\u2022\tMarketing activities conducted by direct or indirect competitors of your business
\nActivity Two \u2013 Develop a proposal for new business venture
\no\tDeveloping a Business Proposal for the new business venture covering:
\n\u2022\tIdentification of type of growth strategy for the new business opportunity
\n\u2022\tGoals and objectives
\n\u2022\tAnticipated outcomes in terms of:
\n–\tBusiness constraints
\n–\tBusiness performance
\n\u2022\tRecommendations
\n\u2022\tJustification on how it would impact:
\n–\tOrganization
\n–\tBusiness
\n–\tProcesses<\/p>\n
(cont.)
\n\uf02d\tStrategic alignment
\n\uf02d\tCost Benefit Analysis<\/p>\n
Activity Three – Consult with relevant stakeholder for feedback and approval<\/p>\n
This task will require you to collect feedback from the CEO (your classmate or alternatively, your Trainer can undertake this role), on the completed Business Proposal (based on Task 1 Activity 2), including:<\/p>\n
o\tCollect feedback from one (1) stakeholder about:
\n\u2022\tIntroducing the new business opportunity
\n\u2022\tReviewing the organization\u2019s corporate marketing plan and how it reflects:
\n–\tthe current marketing strategy
\n–\tbrand positioning
\n–\texpected marketing KPIs
\n\u2022\tIdentify the new business opportunity\u2019s assumptions and type of growth strategy for it, including:
\n–\tJustification for the chosen growth strategy
\n–\tGoals and objectives
\n–\tList project ( help with nursing paper writing from experts with MSN & DNP degrees) milestones for the new business venture for the respective fitness centres and their target completion dates
\n\u2022\tProvide a brief discussion on what are the anticipated outcomes of this new business venture in terms of positively impacting the:
\n–\tOrganization
\n–\tBusiness
\n–\tProcess
\n\u2022\tIdentifying the potential business risk\/s faced
\n\u2022\tConducting a risk assessment analysis addressing at least five (5) plausible business risks
\n\u2022\tConduct a Cost Benefit Analysis for the New Business Venture
\n\u2022\tPrepare and develop a financial plan for the new business opportunity, including:
\n–\tIdentify start-up expenses
\n–\tIdentify profitability assessment
\n–\tDetermine financial source and justification
\n–\tSales forecast<\/p>\n
Activity One – Review organization\u2019s corporation marketing plan<\/p>\n
As General Manager \u2013 Marketing, you have been tasked by Margaret House, CEO for Bounce Fitness, to review the organization\u2019s current marketing practices (refer to 3. BSBESB302 & 404 – Case Study \u2013 Bounce Fitness \u2013 Corporate Marketing Plan V2022.1), covering:
\no\tCurrent marketing activities
\no\tCurrent marketing performance
\no\tTarget markets
\no\tMarketing KPIs
\no\tCurrent marketing mix
\no\tCurrent competitors<\/p>\n
–\tOrganizational current business product or service (refer to 3. BSBESB302 & 404 -Case Study \u2013 Bounce Fitness \u2013 Corporate Marketing Plan V2022.1)
\n–
\n–
\n–<\/p>\n
–\tOrganization\u2019s current marketing strategy (refer to 3. BSBESB302 & 404 – Case Study \u2013 Bounce Fitness \u2013 Corporate Marketing Plan V2022.1)\t–
\n–<\/p>\n
–\tOrganization\u2019s current business performance outcomes (refer to 4. BSBESB302& 404 – Case Study \u2013 Bounce Fitness \u2013 Corporate Marketing Plan Performance Review V2022.1; answers should not exceed 70-word count limit)<\/p>\n
–\tCurrent target markets\t\u2610
\nCorporate clientele\t\u2610
\nRegular clientele<\/p>\n
–\tCurrent brand positioning (refer to 3. BSBESB302 & 404 – Case Study \u2013 Bounce Fitness \u2013 Corporate Marketing Plan V2022.1)<\/p>\n
–\tOrganization\u2019s marketing KPIs (refer to 3. BSBESB302 & 404 – Case Study \u2013 Bounce Fitness \u2013 Corporate Marketing Plan V2022.1)\t–
\n–
\n–<\/p>\n
Organization\u2019s current marketing activities outcomes (refer to 3. BSBESB302 & 404 – Case Study \u2013 Bounce Fitness \u2013 Corporate Marketing PlanV2022.1):<\/p>\n
–\tMarket research<\/p>\n
Organization\u2019s current marketing activities outcomes (refer to 3. BSBESB302 & 404 – Case Study \u2013 Bounce Fitness \u2013 Corporate Marketing Plan V2022.1; cont.):<\/p>\n
–\tPricing
\n–\tAdvertising and promotions
\n–\tCustomer service<\/p>\n
Marketing activities conducted by direct or indirect competitors of the business (refer to 3. BSBESB302 & 404 – Case Study \u2013 Bounce Fitness \u2013 Corporate Marketing Plan V2022.1)<\/p>\n
–\tCompetitor # 1
\n–\tCompetitor # 2
\n–\tCompetitor # 3<\/p>\n
Activity Two \u2013 Develop a proposal for new business venture<\/p>\n
Having reviewed Bounce Fitness\u2019s marketing performance, you are now tasked to develop a detailed Business Proposal for the new business venture, i.e., Internet Coffee Shop, covering:<\/p>\n
o\tPurpose of this document
\no\tNew business venture description
\no\tNew business venture assumptions
\no\tIdentification of type of growth strategy for the new business opportunity
\no\tJustification for the chosen growth strategy
\no\tGoals and objectives
\no\tList project ( help with nursing paper writing from experts with MSN & DNP degrees) milestones for the new business venture for the respective fitness centers and their target completion dates
\no\tProvide a brief discussion on what are the anticipated outcomes of this new business venture in terms of positively impacting the:
\n\u2022\tOrganization
\n\u2022\tBusiness
\n\u2022\tProcess
\n\u2022\tPotential business risk faced
\n\u2022\tConduct a Cost Benefit Analysis for the New Business Venture
\no\tObtain approval for the Business Proposal.<\/p>\n
Business Proposal<\/p>\n
Project name\tInternet Coffee Shop\tDate prepared
\nLocation\t\u2610
\nMelbourne\t\u2610
\nSydney\t\u2610
\nBrisbane\t\u2610
\nCairns<\/p>\n
Document version\tV2022.1\tDocument ID\tBP\u20132022\u201308-012
\nPrepared by\t\tPosition\tGeneral Manager \u2013 Marketing<\/p>\n
Purpose of this document (select one option)\t\u2610
\nTo help manage an organization by stating ambitions, how they will be achieved, and exactly when
\n\u2610
\nTo identify, describe and analyze a business opportunity and\/or a business already under way, examining its technical, economic, and financial feasibility.<\/p>\n
Business Proposal (cont.)<\/p>\n
–\tNew business venture description (answer should not exceed 80-word count description of the business type, performance criteria expectations, etc.)<\/p>\n
–\tNew business venture assumptions (select option\/s accordingly)\t\u2610
\nNew business venture has executive-level support and backing.
\n\u2610
\nSufficient funding is available.
\n\u2610
\nAll Center Managers will provide necessary support to ensure new business venture would be a success.<\/p>\n
–\tIdentification of type of growth strategy for the new business opportunity (select appropriate strategy option)\t\u2610
\nMarket development (existing market and existing product)
\n\u2610
\nMarket penetration (new market and existing product)
\n\u2610
\nProduct development (new product and existing market)
\n\u2610
\nDiversification (new product and new market)<\/p>\n
–\tViability justification for the chosen growth strategy (select option\/s accordingly)\t\u2610
\nAustralia’s sophisticated coffee culture trend as coffee is popular among Australians.
\n\u2610
\nDomestic coffee consumption in Australia had steadily increased between 2017 and 2019 followed by a slight decrease in 2020 where the national consumption rate reached 1.96 million sixty-kilogram bags.
\n\u2610
\nA place to socialize and share fitness experience with friends and colleagues after-workout.
\n\u2610
\nValue-adding services that be packaged with fitness membership.
\n\u2610
\nBrand positioning of fitness center will differentiate itself from rival companies.
\n\u2610
\nA platform to create meaningful and lasting relationships with customers.
\n\u2610
\nAttracting new target market as a cool place for people to identify with.
\n\u2610
\nLucrative business to get in due to high growth rate at CAGR of 8.6% and market size of US$7.8 billion annually.<\/p>\n
Business Proposal (cont.)<\/p>\n
–\tGoals and objectives to meet organizational requirements (select option\/s accordingly)\t\u2610
\nReturn on investment of at least 15%.
\n\u2610
\nIncrease net earnings by at least 10%.
\n\u2610
\nAchieve a market share of 15% in each area.
\n\u2610
\nIncrease sales 5% by June 30 through marketing initiatives
\n\u2610
\n10% new memberships<\/p>\n
–\tIdentify relevant legislation & regulation related with new business venture (select options accordingly)\t\u2610
\nThe Work Health and Safety Act 2011 requirements
\n\u2610
\nLocal council approval and licensing requirements in terms of zoning, DA applications & noise restrictions
\n\u2610
\nAdvertising and Selling Guide by Australian Competition & Consumer Commission (ACCC)
\n\u2610
\nAdherence to the Copyright Act 1976 requirements
\n\u2610
\nFood Standards Code by NSW Food Safety Standards
\n\u2610
\nCompliance to the AS 4674-2004 for design, construction and fit out of food premises
\n\u2610
\nCompliance, monitoring and enforcement guidance by Food Regulation Australia<\/p>\n
List project ( help with nursing paper writing from experts with MSN & DNP degrees) milestones for the new business opportunity (to be done in stages to ensure minimal disruption) and expected target completion dates (assumptions may be made but need to be realistic to a typical construction timeline)<\/p>\n
Milestones\/ deliverables\tMilestones
\nSeptember\tNovember\tDecember\tJanuary
\nW1\tW2\tW3\tW4\tW5\tW6\tW7\tW8\tW9\tW10\tW11\tW12\tW13\tW4\tW15\tW16<\/p>\n
–\tProject charter\t\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610<\/p>\n
–\tProject plan review\t\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610<\/p>\n
–\tProject kickoff\t\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610
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\n\u2610
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\n\u2610
\n\u2610
\n\u2610<\/p>\n
–\tPhase 1 complete\t\u2610
\n\u2610
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\n\u2610
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\n\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610<\/p>\n
–\tPhase 2 complete\t\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610
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\n\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610<\/p>\n
–\tPhase 3 complete\t\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610
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\n\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610<\/p>\n
–\tPhase 4 complete\t\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610<\/p>\n
–\tCloseout\/ project ( help with nursing paper writing from experts with MSN & DNP degrees) completion\t\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610<\/p>\n
Business Proposal (cont.)<\/p>\n
Provide a brief discussion (each answer should not exceed 50-word count) on what are the viability of business opportunity for this new business venture in terms of positively impacting the:<\/p>\n
–\tOrganization (why the new venture is aligned with its business goals)
\n–\tBusiness (how will the new venture support and benefit the business performance)
\n–\tProcess (how will the new venture support and benefit the marketing initiatives)<\/p>\n
–\tPotential risk associated with viability of business (select four options accordingly)\t\u2610
\nPandemic is a rapidly spreading infectious disease severely upset business operations and impeding the ability to deliver products and services to customers.
\n\u2610
\nCompetitors may appear or change and begin offering a similar product or service.
\n\u2610
\nFinancial stability may weaken when the company with a high amount of debt can become over-leveraged, meaning they have high fixed costs relating to financing, etc.
\n\u2610
\nEconomic instability as the economy is constantly changing as the markets fluctuate.
\n\u2610
\nBusiness interruption in the case where an unexpected event could be a natural disaster or fire that damages or destroys physical business.
\n\u2610
\nEmployee or customer injuries, property damage, or failure to meet contractual obligations are all examples of liability risks that can lead to costly lawsuits and fines for small organizations
\n\u2610
\nCyber risk is the threat of financial loss, disruption, or reputational damage to an organization due to some sort of failure from its IT systems.<\/p>\n
Business Proposal (cont.)<\/p>\n
Develop a risk assessment plan (to prepare for the unexpected based on the potential risk identified that could impact the new business)<\/p>\n
Plausible risks that could occur (selection is based on earlier task)\tRisk assessment (select the appropriate option for each column)\tContingency strategy options (select only one for each risk)
\nLikely risk impact \tConsequences\tRisk rating<\/p>\n
\uf02d\tPandemic is a rapidly spreading infectious disease severely upset business operations\t\u2610
\nRare\t\u2610
\nNegligible\t\u2610
\n1 = Remote\t\u2610
\nIncident response planning
\n\u2610
\nUnlikely\t\u2610
\nMinor\t\u2610
\n2 = Unlikely\t\u2610
\nIdentify and address supply chain issues
\n\u2610
\nModerate\t\u2610
\nMedium\t\u2610
\n3 = Average\t\u2610
\nBusiness impact analysis
\n\u2610
\nLikely\t\u2610
\nMajor\t\u2610
\n4 = Likely\t\u2610
\nEmployee and customer safety
\n\u2610
\nCertain\t\u2610
\nSevere \t\u2610
\n5 = extremely likely\t\u2610
\nRecovery planning<\/p>\n
\uf02d\tCompetitors may appear or change and begin offering a similar product or service.\t\u2610
\nRare\t\u2610
\nNegligible\t\u2610
\n1 = Remote\t\u2610
\nSet competitive pricing
\n\u2610
\nUnlikely\t\u2610
\nMinor\t\u2610
\n2 = Unlikely\t\u2610
\nImprove services by finding a niche via specialization
\n\u2610
\nModerate\t\u2610
\nMedium\t\u2610
\n3 = Average\t\u2610
\nStep up advertising & promotional activities
\n\u2610
\nLikely\t\u2610
\nMajor\t\u2610
\n4 = Likely\t\u2610
\nContinuous improvement\/ innovation measures
\n\u2610
\nCertain\t\u2610
\nSevere \t\u2610
\n5 = extremely likely\t\u2610
\nTake on a different diversification strategy<\/p>\n
\uf02d\tFinancial stability may weaken when the company with a high amount of debt can become over-leveraged\t\u2610
\nRare\t\u2610
\nNegligible\t\u2610
\n1 = Remote\t\u2610
\nModelling comprehensive contingency scenarios
\n\u2610
\nUnlikely\t\u2610
\nMinor\t\u2610
\n2 = Unlikely\t\u2610
\nImplementing hibernation strategies
\n\u2610
\nModerate\t\u2610
\nMedium\t\u2610
\n3 = Average\t\u2610
\nManaging liquidity by stabilising cash flows
\n\u2610
\nLikely\t\u2610
\nMajor\t\u2610
\n4 = Likely\t\u2610
\nConsider mechanisms for increasing revenue
\n\u2610
\nCertain\t\u2610
\nSevere \t\u2610
\n5 = extremely likely\t\u2610
\nConsider diversifying revenue streams<\/p>\n
\uf02d\tEconomic instability as the economy is constantly changing as the markets fluctuate.\t\u2610
\nRare\t\u2610
\nNegligible\t\u2610
\n1 = Remote\t\u2610
\nScale down overheads
\n\u2610
\nUnlikely\t\u2610
\nMinor\t\u2610
\n2 = Unlikely\t\u2610
\nNegotiate reserves with bank
\n\u2610
\nModerate\t\u2610
\nMedium\t\u2610
\n3 = Average\t\u2610
\nScale down planned activities
\n\u2610
\nLikely\t\u2610
\nMajor\t\u2610
\n4 = Likely\t\u2610
\nRegular economic tracking
\n\u2610
\nCertain\t\u2610
\nSevere \t\u2610
\n5 = extremely likely\t\u2610
\nScale down marketing budget<\/p>\n
Business Proposal (cont.)<\/p>\n
Develop a risk assessment plan (cont.)<\/p>\n
Plausible risks that could occur (selection is based on earlier task)\tRisk assessment (select the appropriate option for each column)\tContingency strategy options (select only one for each risk)
\nLikely risk impact \tConsequences\tRisk rating<\/p>\n
\uf02d\tBusiness interruption in the case where an unexpected event, i.e., fires, etc.\t\u2610
\nRare\t\u2610
\nNegligible\t\u2610
\n1 = Remote\t\u2610
\nAdequate insurance cover
\n\u2610
\nUnlikely\t\u2610
\nMinor\t\u2610
\n2 = Unlikely\t\u2610
\nStructural design mitigation
\n\u2610
\nModerate\t\u2610
\nMedium\t\u2610
\n3 = Average\t\u2610
\nHazard forecasting
\n\u2610
\nLikely\t\u2610
\nMajor\t\u2610
\n4 = Likely\t\u2610
\nEmergency action plans
\n\u2610
\nCertain\t\u2610
\nSevere \t\u2610
\n5 = extremely likely\t\u2610
\nAllocation of contingency fund<\/p>\n
\uf02d\tEmployee or customer injuries, property damage, or failure to meet contractual obligations\t\u2610
\nRare\t\u2610
\nNegligible\t\u2610
\n1 = Remote\t\u2610
\nEmergency\/ incident response procedures
\n\u2610
\nUnlikely\t\u2610
\nMinor\t\u2610
\n2 = Unlikely\t\u2610
\nWorkplace preparedness plans
\n\u2610
\nModerate\t\u2610
\nMedium\t\u2610
\n3 = Average\t\u2610
\nReducing or eliminating hazards\/ risks
\n\u2610
\nLikely\t\u2610
\nMajor\t\u2610
\n4 = Likely\t\u2610
\nBusiness recovery and resumption plan
\n\u2610
\nCertain\t\u2610
\nSevere \t\u2610
\n5 = extremely likely\t\u2610
\nBusiness interruption insurance coverage<\/p>\n
\uf02d\tCyber risk is the threat of financial loss, disruption, or reputational damage\t\u2610
\nRare\t\u2610
\nNegligible\t\u2610
\n1 = Remote\t\u2610
\nConducting activities for recovery & restore
\n\u2610
\nUnlikely\t\u2610
\nMinor\t\u2610
\n2 = Unlikely\t\u2610
\nRestoring information systems using alternate equipment
\n\u2610
\nModerate\t\u2610
\nMedium\t\u2610
\n3 = Average\t\u2610
\nImplementing of appropriate contingency planning controls
\n\u2610
\nLikely\t\u2610
\nMajor\t\u2610
\n4 = Likely\t\u2610
\nDisabling compromised accounts
\n\u2610
\nCertain\t\u2610
\nSevere \t\u2610
\n5 = extremely likely\t\u2610
\nShut down all company systems and networks<\/p>\n
Risk Rating Guide<\/p>\n
Likelihood Scale\tLevel\tDescription
\nRare\tThe event may occur in exceptional circumstances.
\nUnlikely\tThe event will probably occur at some time.
\nModerate\tThe event will probably occur at some time.
\nLikely\tThe event will occur in most circumstances.
\nCertain\tThe event is expected to occur in all circumstances.<\/p>\n
Consequence Scale\tNegligible\tA risk event that, if it occurs, will have little or none impact on achieving desired results, to the extent that one or more stated outcome objectives.
\nMinor\tA risk event that, if it occurs, will have a minor impact on achieving desired results, to the extent that one or more stated outcome objectives will fall well below goals but well above minimum acceptable levels.
\nMedium\tA risk event that, if it occurs, will have a moderate impact on achieving desired results, to the extent that one or more stated outcome objectives will fall well below goals but above minimum acceptable levels.
\nMajor\tA risk event that, if it occurs, will have a significant impact on achieving desired results, to the extent that one or more stated outcome objectives will fall below acceptable levels.
\nSevere \tA risk event that, if it occurs, will have a severe impact on achieving desired results, to the extent that one or more of its critical outcome objectives will not be achieved.<\/p>\n
Risk Matrix Guide<\/p>\n
Likelihood\tConsequence
\nNegligible\tMinor\tMedium\tMajor\tSevere
\nCertain\t3\t2\t1\t1\t1
\nLikely\t3\t3\t2\t1\t1
\nModerate\t4\t3\t3\t2\t1
\nUnlikely\t5\t4\t3\t3\t2
\nRare\t5\t5\t4\t3\t3<\/p>\n
Descriptions\t1 = Remote or Extreme
\n2 = Unlikely or High
\n3 = Average or Moderate \t4 = Likely
\n5 = Extreme Likely<\/p>\n
Business Proposal (cont.)<\/p>\n
Conduct a Cost Benefit Analysis for the new business opportunity (each answer should not exceed 40-word count limit)<\/p>\n
\uf02d\tCost (list three points on how the new business opportunity would negatively impacting the Company)\t1.
\n2.
\n3.
\n\uf02d\tBenefit (list three points how would the new business opportunity positively impact the Company)\t1.
\n2.
\n3.<\/p>\n
Prepare and develop a financial plan for the new business opportunity (estimate the potential expenses and potential financial earnings of the identified business idea)<\/p>\n
\uf02d\tIdentify start-up expenses for the business idea\tType of expenses\tExpenses ($)<\/p>\n
1.\tRenovation works\t$
\n2.\tFurniture and fittings\t$
\n3.\tEquipment and suppliers\t$
\n4.\tInsurance and permit fees\t$
\n5.\tWages\t$
\n6.\tAdvertising and promotion\t$
\nEstimated total\t$<\/p>\n
Business Proposal (cont.)<\/p>\n
\uf02d\tIdentify profitability assessment \tExpected Returns on Investment (refer to https:\/\/www.omnicalculator.com\/finance\/roi for Helpance)
\nRevenue to achieve ($)\tProfits to achieve ($)<\/p>\n
Expected ROI of 20% in the first (1st) year of operations is to be achieved, what would be the profit be?\t$\t\t$<\/p>\n
Estimated payback period (payback period = initial investment\/ annual payback) for the new business would be?\t\tyears<\/p>\n
–\tFinancial source and justification (answer should not exceed 80-word count limit)\t\u2610
\nDebt financing\t\u2610
\nEquity financing\t\u2610
\nWorking capital<\/p>\n
Scenario
\nAs the General Manager Marketing, you are required to provide a financial overview to address sales and expense forecast to ascertain the business\u2019 profitability.
\nIn terms of breakeven analysis, it is expected that Bounce Fitness Caf\u00e9 is operating in an industry capable of supporting high gross margins. Variable costs in relationship to per-unit revenues are low and these costs are equal to roughly 25% of per-unit revenues. It is expected that the value of this cost will decrease to 20% due to economies of scale.
\nYou would need to calculate:
\no\tThe Sales forecast for Years 4 and 5 (data for Corporate Employees and Regular Clients have been provided and assumption for the Internet Coffee Shop is $150,000 for Year 4).
\no\tThe Direct Cost of Sales for Years 4 and 5 (data for Corporate Employees and Regular Clients have been provided and assumption for the Internet Coffee Shop is $57,000 for Year 4).
\no\tMarketing Expense for Years 4 and 5 (data for Corporate Employees and Regular Clients have been provided and assumption for the Internet Coffee Shop is $10,000 for Year 4).<\/p>\n
Business Proposal (cont.)<\/p>\n
–\tSales forecast \tSales (assumption that revenue for the coffee shop is $150,000 for Year 4)\tCurrent data\tForecast (calculate all sections)
\nYear 2 ($)\tYear 3 ($)\tYear 4 ($)\tYear 5 ($)<\/p>\n
Corporate employees\t389,776\t455,678
\nRegular clients\t288,739\t333,890
\nInternet Coffee Shop\t0\t0\t150,000
\nTotal sales\t678,515\t789,568<\/p>\n
–\tDirect cost of sales forecast\tDirect cost of sales (assumption that cost of sales for the coffee shop is $57,000 for Year 4)\tCurrent data\tForecast (calculate all sections)
\nYear 2 ($)\tYear 3 ($)\tYear 4 ($)\tYear 5 ($)<\/p>\n
–\tCorporate employees\t38,978\t45,568
\n–\tRegular clients\t28,874\t33,389
\n–\tInternet Coffee Shop\t0\t0\t57,000
\nTotal sales\t67,852\t78,957<\/p>\n
–\tMarketing expense forecast\tMarketing expense (assumption for the Internet Coffee Shop is $10,000 for Year 4)\tCurrent data\tForecast (calculate all sections)
\nYear 2 ($)\tYear 3 ($)\tYear 4 ($)\tYear 5 ($)<\/p>\n
Fitness services:
\n–\tPamphlet production\t1,200\t1,000
\n–\tWebsite production\t8,500\t8,500
\n–\tOther \t12,000\t9,250
\nInternet Coffee Shop:
\n–\tDigital\/ mainstream media\t0\t0\t10,000
\nTotal marketing expenses\t21,000\t18,750<\/p>\n
Business Proposal (cont.)<\/p>\n
Scenario<\/p>\n
It is assumed that the fixed costs for Bounce Fitness Caf\u00e9 equal to almost $7,500 which includes payment of debt, facility lease costs, hardware costs, and other costs Bounce Fitness Caf\u00e9 must maintain monthly basis. These costs are fixed and are not impacted by an increase or a decrease in sales.
\nTo calculate the monthly revenue breakeven analysis, the following assumptions apply:
\no\tEstimated monthly fixed cost – $7,500
\no\tAverage per unit revenue – $3.35
\no\tAverage per unit – $0.84<\/p>\n
–\tMonthly revenue breakeven \tBreakeven point formula (it is that level of business activity where the sales are just enough to meet the total cost, which includes both Fixed and Variable Costs; also, the Breakeven point acts as an essential level for a business to attain before making a profit)<\/p>\n
Step 1\tDeduct average per unit from average per unit revenue to obtain contribution margin per unit\t$
\nStep 2\tEstimated monthly fixed cost divided by contribution margin to obtain breakeven point per unit\t$
\nStep 3\tBreakeven point per unit multiply by average per unit revenue to obtain monthly revenue breakeven point\t$<\/p>\n
Conclusion (provide conclusive statements in terms of the project ( help with nursing paper writing from experts with MSN & DNP degrees)\u2019s profitability and growth; each answer should not exceed 60-word count limit)<\/p>\n
–\tProfitability
\n–\tGrowth<\/p>\n
Activity Three \u2013 Review business plan with relevant stakeholder for approval
\nMake an appointment with the CEO (your classmate\/ Trainer would undertake this role), to make a formal presentation of the business proposal completed in Task 1 Activity 2.
\nFor this task you are required to:
\no\tProvide an oral presentation to the CEO (your classmate\/ Trainer would undertake this role) to present the Business Proposal for the new business opportunity, i.e., Internet Coffee Shop, and seek approval for it.
\no\tThe CEO (your classmate\/ Trainer would undertake this role) will assess your business proposal using business plan viability frameworks.<\/p>\n
You will be assessed on your oral interaction skills to:
\no\tReview and present the Business Proposal based on Task 1 Activity 2
\no\tUse appropriate oral presentation techniques to communicate information:
\n\u2022\tSeize the audience\u2019s attention by keeping informative presentation brief and to the point.
\n\u2022\tDisclose the problem or needs that your product or service will satisfy
\n\u2022\tCaptivate the audience by describing the advantages of solving the problem or need<\/p>\n
Business Plan Assessment (to be completed by CEO role)<\/p>\n
Project name\tInternet Coffee Shop\tDate prepared
\nLocation\t\u2610
\nMelbourne\t\u2610
\nSydney\t\u2610
\nBrisbane\t\u2610
\nCairns<\/p>\n
Document version\t2022.1\tDocument number\tBPE\u20132022\u201308-012
\nEvaluated by\t\tPosition \tCEO<\/p>\n
Business viability components (to be completed by the CEO role)\tScoring<\/p>\n
–\tMarket viability (market environment, competitors, similar products, pricing, packaging, distribution, promotion\/ advertising)
\n\u2610
\n1 = Strongly disagree\t\u2610
\n2 = Disagree \t\u2610
\n3 = Neutral \t\u2610
\n4 = Agree \t\u2610
\n5 = Strongly agree<\/p>\n
Business Plan Assessment (cont.)<\/p>\n
Business viability components (to be completed by the CEO role; cont.)\tScoring<\/p>\n
–\tTechnicality viability (capacity, available and quality of resources, inclusive of raw materials\/ labour and professional expertise, supply chain implications, IP potential)
\n\u2610
\n1 = Strongly disagree\t\u2610
\n2 = Disagree \t\u2610
\n3 = Neutral \t\u2610
\n4 = Agree \t\u2610
\n5 = Strongly agree<\/p>\n
–\tBusiness model viability (uniqueness of model in terms of competitive advantage, ability of competitor to duplicate, ability to create value through priority knowledge & process, ability to create wealth, ability to scale up the business)
\n\u2610
\n1 = Strongly disagree\t\u2610
\n2 = Disagree \t\u2610
\n3 = Neutral \t\u2610
\n4 = Agree \t\u2610
\n5 = Strongly agree<\/p>\n
–\tManagement model viability (application of knowledge & skills, management of risk, ability to measure business process)
\n\u2610
\n1 = Strongly disagree\t\u2610
\n2 = Disagree \t\u2610
\n3 = Neutral \t\u2610
\n4 = Agree \t\u2610
\n5 = Strongly agree<\/p>\n
–\tEconomic and financial viability (start-up costs, working capital, operating costs, overall return on investment, overall profitability, sustainability of market versus project ( help with nursing paper writing from experts with MSN & DNP degrees)ed revenue, ability to generate economic value)
\n\u2610
\n1 = Strongly disagree\t\u2610
\n2 = Disagree \t\u2610
\n3 = Neutral \t\u2610
\n4 = Agree \t\u2610
\n5 = Strongly agree<\/p>\n
Total score<\/p>\n
Overall Assessment (based on the scoring for the viability components; answer should not exceed 30 words)<\/p>\n
Checklist\/ performance criteria matrix for Task 1 (for Assessor use only)\t \tThis is a clustered units of competency assessment.
\nInstructions to Assessors
\nThis checklist is to be used to record the student\u2019s responses to the questions outlined in Task 1 Activities 1 – 3. When completing this checklist, you must ensure that:
\n\u2022\tEach checklist item is assessed against the criteria listed.
\n\u2022\tAn assignment result, either a Yes or No, is recorded in one of the two columns on the right of the checklist.
\n\u2022\tFeedback is provided to the student in the assignment cover sheet and\/ or, at the Canvas commentary section.
\n\u2022\tItalic fonts represent BSBESB302 and regular fonts represent BSBESB404.<\/p>\n
Did the learner:\tYes\tNo
\nEvidence of interview with identified individual, submitted by the learner:\tRelating to unit\u2019s performance criteria:
\no\tReview Bounce Fitness\u2019 Corporate Marketing Plan and answer the following:\t1.1 Identify focus of marketing activities according to business plan objectives and products and\/or services being provided
\n1.3 Identify customer base, target market and competitors according to identified marketing objectives
\n1.4 Establish and evaluate strategy to ensure ethical and cultural appropriateness and alignment with customer and industry expectations
\n2.1 Assess product mix, volumes and pricing opportunities according to marketing focus and business plan objectives<\/p>\n
BSBESB302:
\n1.4 Record outcomes of Assessment according to workplace procedures
\no\tOrganizational current business product or service
\no\tOrganization\u2019s current marketing strategy
\no\tOrganization\u2019s current business performance
\no\tCurrent target markets
\no\tCurrent brand positioning
\no\tOrganization\u2019s marketing KPIs
\no\tMarketing activities conducted by direct or indirect competitors of the business
\n\u2022\tHaving reviewed Bounce Fitness\u2019s marketing performance, you are now tasked to develop and present it to the CEO a Business Proposal for the new business venture, i.e., Internet Coffee Shop, covering:\t1.2 Establish marketing objectives in consultation with required people and according to business plan and workplace procedures
\n1.1 Identify focus of marketing activities according to business plan objectives and products and\/or services being provided<\/p>\n
BSBESB302:
\n1.1 Identify ideas relating to business opportunities
\n3.1 Identify audience for proposal, and required structure and content
\n3.3 Develop description of business idea according to identified budget and business opportunities
\n4.1 Determine presentation method suited to audience
\n4.2 Provide customised business proposal to target audience
\no\tPurpose of this document
\no\tNew business venture description
\no\tNew business venture assumptions<\/p>\n
Did the learner (cont.):\tYes\tNo
\nEvidence of interview with identified individual, submitted by the learner:\tRelating to unit\u2019s performance criteria:
\no\tIdentification of type of growth strategy for the new business opportunity\t1.4 Establish and evaluate strategy to ensure ethical and cultural appropriateness and alignment with customer and industry expectations
\nBSBESB302:
\n1.1 Identify ideas relating to business opportunities
\no\tViability justification for the chosen growth strategy
\no\tGoals and objectives\t1.2 Establish marketing objectives in consultation with required people and according to business plan and workplace procedures
\no\tIdentify relevant legislation & regulation related with new business venture\t1.4 Establish and evaluate strategy to ensure ethical and cultural appropriateness and alignment with customer and industry expectations
\no\tList project ( help with nursing paper writing from experts with MSN & DNP degrees) milestones for the new business venture for the respective fitness centres and their target completion dates\t1.1 Identify focus of marketing activities according to business plan objectives and products and\/or services being provided
\no\tProvide a brief discussion on what are the anticipated outcomes of this new business venture in terms of positively impacting the:\t1.4 Establish and evaluate strategy to ensure ethical and cultural appropriateness and alignment with customer and industry expectations
\nBSBESB302:
\n1.2 Research key factors influencing their financial viability
\n1.3 Analyse business ideas to determine viability of business opportunity
\n1.4 Record outcomes of Assessment according to workplace procedures
\n2.1 Identify potential risks associated with opportunity ideas and viability of business
\n–\tOrganization
\n–\tBusiness
\n–\tProcess
\no\tPotential business risk faced
\no\tPotential risk associated with viability of business\tBSBESB302:
\n2.2 Communicate with relevant stakeholders the potential risks
\n2.3 Help relevant stakeholders to develop risk management systems
\no\tDevelop a risk assessment plan
\no\tConduct a Cost Benefit Analysis for the New Business Venture\t2.2 Research and evaluate costs and benefits of available distribution channels and customer service strategies
\nBSBESB302:
\n1.3 Analyse business ideas to determine viability of business opportunity
\n1.4 Record outcomes of Assessment according to workplace procedures
\n3.2 Establish budget according to financial viability
\no\tPrepare and develop a financial plan for the new business opportunity in terms of:
\n–\tIdentify start-up expenses for the business idea
\n–\tIdentify profitability assessment<\/p>\n
Did the learner (cont.):\tYes\tNo
\nEvidence of interview with identified individual, submitted by the learner:\tRelating to unit\u2019s performance criteria:
\n–\tIdentify financial source and provide justification\t2.2 Research and evaluate costs and benefits of available distribution channels and customer service strategies
\nBSBESB302:
\n1.3 Analyse business ideas to determine viability of business opportunity
\n1.4 Record outcomes of Assessment according to workplace procedures
\n3.2 Establish budget according to financial viability
\no\tProvide a financial overview to address sales and expense forecast to ascertain the business\u2019 profitability, covering:
\n–\tSales forecast
\n–\tDirect cost of sales forecast
\n–\tMarketing expense forecast
\no\tCalculate the monthly revenue breakeven analysis
\no\tProvide a conclusion, covering:\tBSBESB302:
\n3.3 Develop description of business idea according to identified budget and business opportunities
\n–\tProfitability
\n–\tGrowth
\n\u2022\tMake an appointment with the CEO to make a formal presentation of the business proposal completed in Task 1 Activity 2.\t1.2 Establish marketing objectives in consultation with required people and according to business plan and workplace procedures
\n4.3 Analyse stakeholder response to all aspects of marketing mix to improve targeting and outcomes<\/p>\n
BSBESB302:
\n3.4 Confirm that draft proposal meets requirements
\n4.3 Seek feedback to inform future proposals
\n\u2022\tUses communication techniques appropriate to audience to communicate:
\nBSBESB302:
\n4.1 Determine presentation method suited to audience
\n4.2 Provide customised business proposal to target audience
\n4.3 Seek feedback to inform future proposals
\no\tFollows logical sequence when discussion and does not jump from topic (sample nursing essay examples by the best nursing assignment writing service) to topic (sample nursing essay examples by the best nursing assignment writing service)
\no\tEnsures explanations are concise yet meaningful
\no\tProvides sufficient evidence to support their statements
\no\tAnswers questions raised by the audience about concepts discussed<\/p>\n
Did the learner (cont.):\tYes\tNo
\nEvidence of interview with identified individual, submitted by the learner:\tRelating to unit\u2019s performance criteria:
\n\u2022\tUses communication techniques appropriate to environment to communicate:
\nBSBESB302:
\n4.1 Determine presentation method suited to audience
\n4.2 Provide customised business proposal to target audience
\n4.3 Seek feedback to inform future proposals
\no\tProjects voice sufficiently throughout the room in the absence of a mic
\no\tMaintains professional behaviour and standards during communication to establish and ensure credibility
\no\tUses appropriate body language (e.g., eye contact) that can be observed throughout the session
\no\tSummarises discussion point or questions from the speaker to confirm understanding
\no\tProvides relevant responses to the person\u2019s questions<\/p>\n
Task 1 has met satisfactory performance requirements \t\u2610
\nTask 1 has not met satisfactory performance requirements (please refer to the feedback on Canvas commentary section)\t\u2610<\/p>\n
Task 2: Develop marketing strategy for business venture and establish marketing mix, implementation, monitor and review for business venture, and present marketing strategy for implementation
\nAs the General Manager Marketing, this task will require you to establish the marketing mix for your business venture. To complete this task, you must:<\/p>\n
Activity One \u2013 Conduct marketing research to support business proposal
\nThis task will require you to:
\no\tConduct research on the following to complete the Marketing Plan:
\n\u2022\tBackground information on target markets.
\n\u2022\tIdentify current market trends.
\n\u2022\tAnalyze each target market\u2019s level of attractiveness
\nActivity Two \u2013 Develop a marketing plan to support business proposal
\nThis task will require you to:
\no\tAssess the marketing mix, against the customer\u2019s journey based on researched information above and develop an action plan required to implement marketing mix, which must include:
\n\u2022\tKey performance indicators for each aspect of marketing mix
\n\u2022\tRole of at least two relevant stakeholders required to implement marketing mix
\n\u2022\tImplement 7Ps marketing mix by proposing:
\n\u2022\tPromotional activities, which must include:
\n–\tAt least two (2) mainstream media
\n–\tAt least two (2) digital devices\/ platforms\/ technologies media
\n\u2022\tMonitoring strategies for implementation of marketing mix
\n\u2022\tProvision of contingency planning<\/p>\n
Activity Three \u2013 Present the marketing plan and obtain approval for implementation
\nThis task will require you to:
\no\tConduct a meeting with the Board of Directors (your classmate or alternatively, your Trainer can undertake this role) to consult and obtain approval for the marketing plan based from Task 2 Activity 2.<\/p>\n
(cont.)<\/p>\n
o\tCommunicate the Marketing Plan to:
\n\u2022\tConsult and negotiate with the stakeholders to assess each risk identified
\n\u2022\tReach consensus on the marketing plan you have presented.
\n\u2022\tSelect appropriate conventions and protocols when communicating with the stakeholders, ensuring:
\n–\tSeize the audience\u2019s attention by keeping informative presentation brief and to the point.
\n–\tDisclose the problem or needs that your workforce planning will satisfy
\n–\tCaptivate the audience by describing the advantages of solving the problem or need
\no\tOne of the Board of Directors (your classmate or alternatively, your Trainer can undertake this role) will provide feedback on the Marketing Plan using the Marketing Plan Assessment Framework form.<\/p>\n
Scenario<\/p>\n
Marketing will play a vital role in the success of Bounce Fitness Caf\u00e9. Bounce Fitness must build a brand around the services it offers by heavily promoting itself through local television, radio and print advertising. Marketing efforts are just beginning by the time a potential customer enters Bounce Fitness Caf\u00e9 for the first time. A strong emphasis will put on keeping customers and building brand loyalty through programs focused on staffing, experience, and customer satisfaction.
\nApart from the existing target markets, i.e., corporate and regular walk-ins, the CEO would like to know your opinion that the inclusion of additional target markets should be considered to include:
\no\tStudents from nearby housing centres
\no\tBusiness people from the downtown business centres and professional buildings
\no\tSeniors from nearby retirement facilities<\/p>\n
Activity One \u2013 Conduct marketing research to support business proposal<\/p>\n
As the General Manager Marketing, you are task to identify which of the three identified target markets should be prioritized. The market research report should provide evaluative information on:
\no\tEach target market demographics
\no\tProvide an understanding their needs
\no\tPresent an insight into the market trends
\no\tDetermine target market attractiveness by evaluating:
\n\u2022\tIdentifiable and reachability
\n\u2022\tResponsiveness
\n\u2022\tSubstantial and profitability
\no\tDetermine Assessment outcome on the choice target market to focus on.<\/p>\n
Marketing Research Report<\/p>\n
Business name\tInternet Coffee Shop\tDate prepared
\nDocument version\tV2022.1\tDocument ID\tMRR \u2013 2022 \u2013 08 – 12
\nPrepared by\t\tPosition\tGeneral Manager – Marketing<\/p>\n
–\tObjectives of this market research report (select the appropriate option\/s)\t\u2610
\nHow can we improve our offer to customers (the product\/service, the delivery, the guarantees, the service support, etc.)?
\n\u2610
\nHow can we segment the market so that we can better satisfy customers\u2019 needs?
\n\u2610
\nHow can we persuade people to buy our products when they are being tempted in other directions?
\n\u2610
\nWhich new products or services could we offer to our customers?<\/p>\n
–\tProposed target market (select the appropriate options)\t\u2610
\nCollege\/ university students \t\u2610
\nContract workers\/ trades
\n\u2610
\nStay-at-home parent\/s\t\u2610
\nWorking professionals
\n\u2610
\nRetired senior citizens\t\u2610
\nRetail associates<\/p>\n
Marketing Research Report (cont.)<\/p>\n
Provide an analysis of each target market selected who are based in Sydney by researching information from the Australian Bureau of Statistics for the 2021 Census QuickStats at URL: https:\/\/abs.gov.au\/census\/find-census-data\/quickstats\/2021\/AUS<\/p>\n
–\tGender make-up\t\t% Males\t\t% Females<\/p>\n
–\tAge groups (% for Sydney only)\tCollege\/ university students (age group from 20 \u2013 24)\tWorking professionals (age groups from 25 \u2013 69; provide total percentages)\tRetired senior citizens (age group from 70 \u2013 85 year and over)<\/p>\n
%\t\t%\t\t%<\/p>\n
–\tRegistered marital status\tMarried\tSeparated & divorced (provide total percentages)\tNever married<\/p>\n
%\t\t%\t\t%<\/p>\n
–\tEducation \tSecondary (include Government, Catholic and non-Government; provide total percentages)\tVocational education \tUniversity or tertiary institution<\/p>\n
%\t\t%\t\t%<\/p>\n
–\tCountry of birth (only top 6 countries)\tAustralia\tChina (excludes SARs and Taiwan)\tIndia<\/p>\n
%\t\t%\t\t%
\nEngland\tPhilippines\tNew Zealand<\/p>\n
%\t\t%\t\t%<\/p>\n
–\tIncome and work \tPersonal\tFamily\tHousehold<\/p>\n
$\t\t$\t\t$<\/p>\n
–\tAnnual income\tCollege\/ university students #\tWorking professionals *\tRetired citizen (for a single person in modest lifestyle) +<\/p>\n
$\t\t$\t\t$
\n# Refer to 6. BSBESB302 & 404 – Case Supplement – National Union of Students (Pre-Budget 2020 to 2021 V2022.1)
\n* https:\/\/www.payscale.com\/research\/AU\/Location=Sydney-New-South-Wales\/Salary
\n+ https:\/\/www.intheblack.com\/articles\/2019\/08\/01\/how-much-super-do-you-need<\/p>\n
Marketing Research Report (cont.)<\/p>\n
Provide a brief discussion on the understanding of each target market needs expectations, e.g., ease of use, accessibility, location convenience, pricing affordability, quality of service, choice options, etc. (each answer should not exceed 30-word count)<\/p>\n
–\tCollege\/ university students
\n–\tWorking professionals
\n–\tRetired citizens<\/p>\n
Present a brief insight (each answer should not exceed 30-word count) into the market trends for coffee shops in terms of:<\/p>\n
–\tInterior design
\n–\tUse of technology
\n–\tFaster service and convenience
\n–\tProduct variety and differentiation<\/p>\n
Marketing Research Report (cont.)<\/p>\n
Determine target market attractiveness by evaluating between high potential (scoring of 3) to low potential (scoring of 1) each target market in terms of identifiable & reachable, responsive and substantial & profitable variables.<\/p>\n
Target market type\tEvaluating each segment\u2019s attractiveness
\nIdentifiable & Reachable
\n(Segment is distinct and easily accessible)\tResponsive
\n(React positively to service offering)\tSubstantial & Profitable
\n(Size and growth potential)\tTotal score\tRanking (highest score = 1, lowest score = 3)<\/p>\n
–\tCollege\/ university students\t\u2610
\n3- high potential\t\u2610
\n3- high potential\t\u2610
\n3- high potential
\n\u2610
\n2- fair potential\t\u2610
\n2- fair potential\t\u2610
\n2- fair potential
\n\u2610
\n1 \u2013 low potential\t\u2610
\n1 \u2013 low potential\t\u2610
\n1 \u2013 low potential
\n–\tWorking professionals\t\u2610
\n3- high potential\t\u2610
\n3- high potential\t\u2610
\n3- high potential
\n\u2610
\n2- fair potential\t\u2610
\n2- fair potential\t\u2610
\n2- fair potential
\n\u2610
\n1 \u2013 low potential\t\u2610
\n1 \u2013 low potential\t\u2610
\n1 \u2013 low potential
\n–\tRetired citizens \t\u2610
\n3- high potential\t\u2610
\n3- high potential\t\u2610
\n3- high potential
\n\u2610
\n2- fair potential\t\u2610
\n2- fair potential\t\u2610
\n2- fair potential
\n\u2610
\n1 \u2013 low potential\t\u2610
\n1 \u2013 low potential\t\u2610
\n1 \u2013 low potential<\/p>\n
–\tDetermine Assessment outcome on the choice target market\/s to focus on (answer should not exceed 50-word count)<\/p>\n
Activity Two \u2013 Develop a marketing plan to support business proposal
\no\tAssess the marketing mix, against the customer\u2019s journey based on researched information above and develop an action plan required to implement marketing mix, which must include:
\n\u2022\tKey performance indicators for each aspect of marketing mix
\n\u2022\tRole of at least two relevant stakeholders required to implement marketing mix
\n\u2022\tImplement the 7Ps marketing mix
\n\u2022\tPromotional activities, which must include:
\no\tAt least two (2) mainstream media
\no\tAt least two (2) digital devices\/ platforms\/ technologies media
\n\u2022\tMonitoring strategies for implementation of marketing mix
\n\u2022\tProvision of contingency planning<\/p>\n
Marketing Plan<\/p>\n
Business name\tInternet Coffee Shop\tDate prepared
\nDocument version\tV2022.1\tDocument ID\tMP \u2013 2022 \u2013 08 – 12
\nPrepared by\t\tPosition\tGeneral Manager – Marketing<\/p>\n
–\tMarketing plan objectives (select the appropriate option\/s)\t\u2610
\nGrow total sales by 10% annually\t\u2610
\nTarget new customers
\n\u2610
\nDiversify the service offering \t\u2610
\nBuild customer loyalty
\n\u2610
\nGrow market share\t\u2610
\nBrand building and value-adding<\/p>\n
–\tSituational analysis (provide the rational for this marketing plan; answer should not exceed 50-word count)<\/p>\n
Marketing Plan (cont.)<\/p>\n
–\tProposed target market (select the appropriate option\/s)\t\u2610
\nCollege\/ university students\t\u2610
\nWorking professionals\t\u2610
\nRetired citizens<\/p>\n
–\tCurrent competitors \t\u2610
\nCommunity Fitness\t\u2610
\nForever Fit Gym\t\u2610
\nBetter Bodies Fitness
\n–\tWith coffee shop facility?\t\u2610
\nYes\t\u2610
\nNo\t\u2610
\nYes\t\u2610
\nNo\t\u2610
\nYes\t\u2610
\nNo<\/p>\n
Provide a SWOT analysis of Bounce Fitness\u2019 key strengths and weaknesses with the company, and describe the opportunities and threats facing the Company (refer to 3. BSBESB302 & 404 – Case Study \u2013 Bounce Fitness \u2013 Corporate Marketing Plan V2022.1).<\/p>\n
–\tStrengths \t–
\n–
\n–
\n–\tWeaknesses \t–
\n–
\n–
\n–\tOpportunities \t–
\n–
\n–
\n–\tThreats \t–
\n–
\n–<\/p>\n
Marketing Plan (cont.)<\/p>\n
–\tBuilding business growth through product development strategy (select the appropriate option)\t\u2610
\nImproving an existing product or service offering (continuous improvement)
\n\u2610
\nExtending product lines (wider products\/ services to be made available)
\n\u2610
\nDeveloping new product or service offerings (adding a new product\/ service)<\/p>\n
Provide an overview of the market potential growth in Australia for years 2007 \u2013 2022 (refer to https:\/\/www.ibisworld.com\/au\/market-size\/cafes-coffee-shops\/) for the new business venture in terms of:<\/p>\n
–\tMarket size in 2022
\n–\tGrowth rate in 2022
\n–\tGrowth\/ decline trend over the past 5 years
\n–\tIndustry ranking in terms of market size in 2022
\n–\tFactors affecting industry growth
\n–\tOpportunity for growth in Australia<\/p>\n
Marketing Plan (cont.)<\/p>\n
–\tKey\/s to success (select the appropriate option\/s)\t\u2610
\nThe creation of a unique, innovative, up-scale atmosphere that will differentiate Bounce Fitness Caf\u00e9 from other local coffee shops and future internet cafes.
\n\u2610
\nThe establishment of Bounce Fitness Caf\u00e9 as a community hub for socialization and entertainment.
\n\u2610
\nThe creation of an environment that would not intimidate the novice user (Bounce Fitness Caf\u00e9 will position itself as an education resource for individuals wishing to learn bout the benefits the internet has to offer).
\n\u2610
\nGreat coffee and bakery items
\n\u2610
\nAvailability of healthy food\/ beverage alternatives
\n\u2610
\nFaster service and convenience<\/p>\n
–\tCritical issues for consideration (select the appropriate option\/s)\t\u2610
\nWill there be a continuous demand for such services?
\n\u2610
\nWould the business concept be able to sustain in the long-term?
\n\u2610
\nWould individuals be willing to pay for such services?
\n\u2610
\nWould there be issues maintaining food standards according to regulatory requirements?
\n\u2610
\nWould there be breach of privacy\/ security issues for offering such services?<\/p>\n
Develop the marketing mix (7Ps) that will be used to position Bounce Fitness Caf\u00e9 to meet its customer needs. In addition, you must provide consideration for a digital marketing strategy, which will focus in achieving greater customer reach and engagement.<\/p>\n
–\tProduct\/ service (how can you develop your product\/ service?)\tProduct type (select option\/s) \tBrief explanation about the product\/ service idea to be developed (answer should not exceed 50-word count)<\/p>\n
\u2610
\nConvenience
\n\u2610
\nShopping
\n\u2610
\nSpeciality<\/p>\n
Marketing Plan (cont.)<\/p>\n
–\tPrices\/ fees (how much should we charge customers for the product\/ service?)\tPrice (select an option)
\nQuality\tHigh\tMedium\tLow<\/p>\n
High\t\u2610
\nPremium \t\u2610
\nHigh value\t\u2610
\nSuperb value
\nMedium\t\u2610
\nOver-charging\t\u2610
\nAverage \t\u2610
\nGood value
\nLow\t\u2610
\nRip-off \t\u2610
\nFalse economy\t\u2610
\nEconomy
\n–\tJustification for the price option (answer should not exceed 40-word count limit)<\/p>\n
–\tPlace\/ access (select appropriate location option\/s)\t\u2610
\nSydney Fitness Centre\t\u2610
\nBrisbane Fitness Centre
\n\u2610
\nMelbourne Fitness Centre\t\u2610
\nCairns Fitness Centre
\n–\tJustification for the place option (answer should not exceed 40-word count limit)<\/p>\n
–\tPromotion activities (how can you build awareness of the product\/ service to customers?)\tType of promotional activity (select option\/s)\tType of media\/ digital media to be used (select combination of 2 mainstream and 2 digital media)<\/p>\n
\u2610
\nAdvertising (any paid form of non-personal presentation and promotion of ideas, goods\/ services by an identified sponsor)\t\u2610
\nNewspapers \t\u2610
\nTV\/ radio
\n\u2610
\nMagazines \t\u2610
\nPosters\/ flyers
\n\u2610
\nFacebook \t\u2610
\nWebsite
\n\u2610
\nLinkedIn \t\u2610
\nYouTube
\n\u2610
\nGoogle +\t\u2610
\nInstagram
\n\u2610
\nSales Promotion (short-term incentives to encourage the purchase of sale of a product\/ service) \t\u2610
\nDemonstrations \t\u2610
\nTV\/ radio
\n\u2610
\nDiscounts \t\u2610
\nCoupons
\n\u2610
\nFacebook \t\u2610
\nMedia sharing
\n\u2610
\nTwitter \t\u2610
\nBlog site
\n\u2610
\nNative advertising\t\u2610
\nWebsite<\/p>\n
Marketing Plan (cont.)<\/p>\n
–\tPromotion activities (how can you build awareness of the product\/ service to customers; cont.)\tType of promotional activity (select option\/s)\tType of media\/ digital media to be used (select combination of 2 mainstream and 2 digital media)<\/p>\n
\u2610
\nPersonal Selling (personal presentation by the firms\u2019 sales force for the purpose of making sales\/ building customer relationships)\t\u2610
\nSales presentations\t\u2610
\nIncentive programs
\n\u2610
\nTrade shows\t\u2610
\nMobile marketing
\n\u2610
\nBlog sites\t\u2610
\nInfluencer relations
\n\u2610
\nSponsored content\t\u2610
\nNative advertising
\n\u2610
\nPublic relations (building good relations with the company\u2019s various publics by obtaining positive brand image\/ event)\t\u2610
\nPress release \t\u2610
\nEvents
\n\u2610
\nSponsorships \t\u2610
\nWebsite
\n\u2610
\nInfluencer relations\t\u2610
\nBlogger relations
\n\u2610
\nVideos \t\u2610
\nCommunity service
\n\u2610
\nDirect Marketing (direct connections with carefully targeted consumers to obtain an immediate response)\t\u2610
\nCatalogues\t\u2610
\nDirect-response
\n\u2610
\nTV\t\u2610
\nKiosks
\n\u2610
\nBlog sites\t\u2610
\nMobile marketing
\n\u2610
\nBrand ambassadors\t\u2610
\nSponsored content<\/p>\n
–\tPhysical environment (determining the service environment impression to customers; answers should not exceed 50 words each)\tSpatial layout and functionality (the way you arrange the furnishings, equipment and machinery, their shape and size and of course, the spatial relationship which exists amongst them.)
\nSigns, symbols, and artifacts (explicit signals that can communicate directly with a customer in a physical environment which are prominently displayed on both exterior and interior of a place and generally act as communicators.)<\/p>\n
Marketing Plan (cont.)<\/p>\n
–\tPhysical environment (cont.; determining the service environment impression to customers; answer should not exceed 50 words)\tAmbient conditions (background conditions of an environment like colour, noise, music, sound, lighting, etc. are included in ambient conditions as they affect one or other of our five senses and can change the mindset and perception of a person.)<\/p>\n
–\tProcesses efficiency (refers to the mechanisms, way or flow of activities by which a service is delivered; select options as appropriate)\t\u2610
\nEnsure clarity to all stakeholders about general business procedures as well as role-specific procedures
\n\u2610
\nStandardizing customer relationship services in terms of process and procedures
\n\u2610
\nMaintaining ethical marketing\/ sales practices including sales policies, e.g., code of conduct, refunds, etc.
\n\u2610
\nEnergy efficiency and environmental consideration work practices
\n\u2610
\nGood practice and compliance to the code of conduct (Fitness Australia), regulatory\/ legislative requirements (ACCC, Privacy, WHS, Safe Food, etc.)
\n\u2610
\nUse of technology to support and streamline work flow to increase efficiency.
\n\u2610
\nPlan work floor to maximise task completion efficiency and simplicity to reduce wait time and increase service satisfaction for customers.<\/p>\n
–\tPeople (having the right staff personnel in place to support the service delivery) \t\u2610
\nDevelop your marketers\u2019 skills so they can carry out the marketing mix strategy
\n\u2610
\nFoster positive company culture and brand building in the workplace.
\n\u2610
\nRegular staff training and performance reviews to ensure their understanding the process of handling client interactions.
\n\u2610
\nHire professionals to design and develop your products or services.
\n\u2610
\nRegular communication through meetings for feedback and continuous improvement initiatives.<\/p>\n
Marketing Plan (cont.)<\/p>\n
Implementing the marketing plan – as the General Manager Marketing, you are required to provide an action plan to outline key dates and costings (you may refer to 3. BSBESB302 & 404 – Case Study \u2013 Bounce Fitness \u2013 Corporate Marketing Plan V2022.1 and\/ or conduct online research, e.g., www.astonsocial.com.au, etc.) that the marketing team must meet. The action plan includes both sales goals and deadlines for major project ( help with nursing paper writing from experts with MSN & DNP degrees)s that impact the programs outlined in the Marketing Expense budget.<\/p>\n
Advertising activities\tStart date\tEnd date\tBudget ($)\tResponsibility<\/p>\n
–\tTV Ad creative
\n–\tMagazine ad creative
\n–\tSocial media ad creative<\/p>\n
Sales activities\tStart date\tEnd date\tBudget ($)\tResponsibility<\/p>\n
–\tDemonstrations
\n–\tSocial media
\n–\tCoupons\/ discounts<\/p>\n
Personal selling activities\tStart date\tEnd date\tBudget ($)\tResponsibility<\/p>\n
–\tSales presentation
\n–\tTrade shows<\/p>\n
Public relations activities\tStart date\tEnd date\tBudget ($)\tResponsibility<\/p>\n
–\tPress release
\n–\tInfluencer relations<\/p>\n
Direct marketing\tStart date\tEnd date\tBudget ($)\tResponsibility<\/p>\n
–\tMobile marketing
\n–\tKiosks<\/p>\n
Marketing Plan (cont.)<\/p>\n
Reviewing the marketing plan (identify how you will know your plan has been a success, put timescales and measures for success against each activity in your action plan; select the appropriate performance metric for each of the marketing activities and simulate the performance expectations for both review sessions)<\/p>\n
Marketing activities\tType of metric used \t1st review date\tMeasure of success\t2nd review date\tMeasure of success<\/p>\n
–\tAdvertising (select options accordingly)\t\u2610
\nTraffic sources and channels\t1 week after activity started\t\u2610
\nExceptional \t2 weeks after activity started\t\u2610
\nExceptional
\n\u2610
\nClick through rate (CTR)\t\t\u2610
\nAbove average\t\t\u2610
\nAbove average
\n\u2610
\nConversion rate\t\t\u2610
\nAverage \t\t\u2610
\nAverage
\n\u2610
\nSocial metrics\t\t\u2610
\nBelow average\t\t\u2610
\nBelow average<\/p>\n
o\tSales (select options accordingly)\t\u2610
\nConversion\/win rate\tWeekly basis\t\u2610
\nExceptional \tWeekly basis\t\u2610
\nExceptional
\n\u2610
\nRevenue\t\t\u2610
\nAbove average\t\t\u2610
\nAbove average
\n\u2610
\nPercentage of sales team hitting quota\t\t\u2610
\nAverage \t\t\u2610
\nAverage
\n\u2610
\nAverage deal size\t\t\u2610
\nBelow average\t\t\u2610
\nBelow average<\/p>\n
o\tPersonal selling (select options accordingly)\t\u2610
\nTime spent selling\tWeekly basis\t\u2610
\nExceptional \tWeekly basis\t\u2610
\nExceptional
\n\u2610
\nLead response time\t\t\u2610
\nAbove average\t\t\u2610
\nAbove average
\n\u2610
\nOpportunity win rate\t\t\u2610
\nAverage \t\t\u2610
\nAverage
\n\u2610
\nSales cost ratio\t\t\u2610
\nBelow average\t\t\u2610
\nBelow average<\/p>\n
Marketing Plan (cont.)<\/p>\n
Reviewing the marketing plan (cont..)<\/p>\n
Marketing activities (cont.)\tType of metric used \t1st review date\tMeasure of success\t2nd review date\tMeasure of success<\/p>\n
–\tPublic relations (select options accordingly)\t\u2610
\nMentions \t2 days after activity started\t\u2610
\nExceptional \t1 month after activity started\t\u2610
\nExceptional
\n\u2610
\nReach \t\t\u2610
\nAbove average\t\t\u2610
\nAbove average
\n\u2610
\nEngagement \t\t\u2610
\nAverage \t\t\u2610
\nAverage
\n\u2610
\nRelationship \t\t\u2610
\nBelow average\t\t\u2610
\nBelow average<\/p>\n
–\tDirect marketing (select options accordingly)\t\u2610
\nResponse rate\tWeekly basis\t\u2610
\nExceptional \tWeekly basis\t\u2610
\nExceptional
\n\u2610
\nConversion rate\t\t\u2610
\nAbove average\t\t\u2610
\nAbove average
\n\u2610
\nCost per response\t\t\u2610
\nAverage \t\t\u2610
\nAverage
\n\u2610
\nCost per acquisition\t\t\u2610
\nBelow average\t\t\u2610
\nBelow average<\/p>\n
Contingency planning (plans do not always work out and as the General Manager Marketing, you have to be ready to deal with the likelihood that Bounce Fitness Caf\u00e9 would not make good on the project ( help with nursing paper writing from experts with MSN & DNP degrees)ions outline in this plan; the following are some possible scenarios of which requires you to select the appropriate strategy to address it)<\/p>\n
–\tRevenues exceed project ( help with nursing paper writing from experts with MSN & DNP degrees)ions (select option accordingly)\t\u2610
\nOpportunities to increase marketing budget above the allocated 20% and emphasizing greater frequency of advertising and promotions.
\n\u2610
\nReinvestment to the business by adding locations or adding new products to further increase the number of revenue streams.
\n–\tRevenues miss project ( help with nursing paper writing from experts with MSN & DNP degrees)ions (select option accordingly)\t\u2610
\nDoubling marketing efforts and ensure marketing\/ any other expenditure does not exceed budget.
\n\u2610
\nIdentify and analyse the issue and come up with a solution\/ plan to move forward.
\n–\tNew business plays a lesser role (select option accordingly)\t\u2610
\nRevisit business plan and conduct further market research to determine the costs and inputs needed as unique selling propositions for the business
\n\u2610
\nNeed to procure additional funding for the new business as it needs further awareness building activities.<\/p>\n
Activity Three \u2013 Present the marketing plan and obtain approval to implement it<\/p>\n
Make an appointment with the Board of Directors (your classmate\/ Trainer would undertake this role), to make a formal presentation of the marketing plan and action plan completed in Task 2 Activity 2.
\nYou will be assessed on your oral interaction skills to:
\no\tExplain the marketing plan (based from Task 2 Activity 2)
\no\tUse appropriate presentation techniques to communicate information:
\n\u2022\tSeize the audience\u2019s attention by keeping informative presentation brief and to the point.
\n\u2022\tDisclose the problem or needs that your product or service will satisfy
\n\u2022\tCaptivate the audience by describing the advantages of solving the problem or need
\n\u2022\tCreate a compelling reason for the audience to agree with you by describing exactly how your product or service with fill their real needs by presenting sufficient logic, evidence, and emotion to sway the audience to your viewpoint.
\n\u2022\tClose your persuasive presentation with a call to action
\no\tUse appropriate active and listening skills to check and confirm understanding of audience<\/p>\n
Instructions<\/p>\n
For this task you are required to:
\no\tProvide an oral presentation to the Board of Directors (your classmate\/ Trainer would undertake this role) to propose the marketing plan for the new business venture, i.e., Internet Coffee Shop, and seek feedback on your marketing proposal.
\no\tObtain feedback from one of the Board of Directors (your classmate\/ Trainer would undertake this role) to assess your marketing plan presentation using the Marketing Plan Assessment Framework.<\/p>\n
Marketing Plan Assessment Framework (to be completed by Board of Director role)<\/p>\n
Marketing plan name\tInternet Coffee Shop
\nPresented by
\nEvaluated by
\nJob role\tDirector
\nDirector\u2019s initials & date<\/p>\n
Scoring: 1 = Strongly disagree, 2 = Disagree, 3 = Neutral, 4 = Agree and 5 = Strongly agree
\nAdd each rubric category to reflect a cumulative total<\/p>\n
Market analysis \t1\t2\t3\t4\t5\tTotal
\no\tIdentified target customer\/s \t\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610<\/p>\n
o\tCompleted SWOT analysis: Competition\t\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610<\/p>\n
o\tConducted market analysis\t\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610<\/p>\n
o\tIdentified keys to success\t\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610<\/p>\n
o\tCritical issues for consideration\t\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610<\/p>\n
Marketing mix\t1\t2\t3\t4\t5\tTotal
\no\tProvided comprehensive details of products \/ services\t\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610<\/p>\n
o\tPricing structure and determination method provided with evidentiary explanation\t\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610<\/p>\n
o\tTarget market location provided with evidentiary explanation\t\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610<\/p>\n
o\tDetailed promotional strategy including advertising, sales promotion, personal selling, public relations and direct marketing activities\t\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610<\/p>\n
o\tClearly spelling out how the physical environment would be developed in terms of spatial layout and functionality, signs, symbols and artifacts and, ambient conditions.\t\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610<\/p>\n
o\tDetermined the parameters of process efficiency.\t\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610<\/p>\n
o\tManagement of personnel to support new business venture\t\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610<\/p>\n
Marketing Plan Assessment Framework (to be completed by Board of Director role)<\/p>\n
Financials\t1\t2\t3\t4\t5\tTotal
\no\tProvided sales forecasts for subsequent years\t\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610<\/p>\n
o\tProvided expenses forecasts for subsequent years\t\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610<\/p>\n
Implementation \t1\t2\t3\t4\t5\tTotal
\no\tAction plan for advertising activities\t\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610<\/p>\n
o\tAction plan for sales activities\t\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610<\/p>\n
o\tAction plan for personal selling activities\t\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610<\/p>\n
o\tAction plan for public relations activities\t\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610<\/p>\n
o\tAction plan for direct marketing activities\t\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610<\/p>\n
Review and Contingency\t1\t2\t3\t4\t5\tTotal
\no\tProvided review plan to evaluate effectiveness of marketing activities.\t\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610<\/p>\n
o\tProvided contingency planning for possible scenario outcomes.\t\u2610
\n\u2610
\n\u2610
\n\u2610
\n\u2610<\/p>\n
Grand total<\/p>\n
Overall Assessment (based on the scoring for the rubric framework)<\/p>\n
Checklist\/ performance criteria matrix for Task 2 (for Assessor use only)
\nInstructions to Assessors
\nThis checklist is to be used to record the student\u2019s responses to the questions outlined in Task 2 Activities1 – 3. When completing this checklist, you must ensure that:<\/p>\n
\u2022\tEach checklist item is assessed against the criteria listed.
\n\u2022\tAn assignment result, either a Yes or No, is recorded in one of the two columns on the right of the checklist.
\n\u2022\tFeedback is provided to the student in the assignment cover sheet and\/ or, at the Canvas commentary section.
\n\u2022\tThis task is mapped solely for BSBESB404.<\/p>\n
Did the learner:\tYes\tNo
\nEvidence of interview with identified individual, submitted by the learner:\tRelating to unit\u2019s performance criteria:
\n\u2022\tAs the General Manager Marketing, you are task to identify which of the three identified target markets should be prioritized. The market research report should provide evaluative information:\t1.1 Identify focus of marketing activities according to business plan objectives and products and\/or services being provided
\no\tObjectives of this market research report \t1.2 Establish marketing objectives in consultation with required people and according to business plan and workplace procedures
\no\tProposed target market\t1.3 Identify customer base, target market and competitors according to identified marketing objectives
\n2.4 Analyse customer journey to evaluate marketing mix
\no\tProvide an analysis of each target market selected who are based in Sydney by researching information from the Australian Bureau of Statistics for the 2016 Census QuickStat
\no\tProvide a brief discussion on the understanding of each target market needs expectations
\no\tPresent a brief insight into the market trends for coffee shops\t1.4 Establish and evaluate strategy to ensure ethical and cultural appropriateness and alignment with customer and industry expectations
\no\tDetermine target market attractiveness by evaluating each target market in terms of identifiable & reachable, responsive and substantial & profitable variables.\t1.3 Identify customer base, target market and competitors according to identified marketing objectives
\n2.4 Analyse customer journey to evaluate marketing mix
\no\tDetermine Assessment outcome on the choice target market\/s to focus on
\n\u2022\tAssess the marketing mix, against the customer\u2019s journey based on researched information above and develop an action plan required to implement marketing mix:\t2.1 Assess product mix, volumes and pricing opportunities according to marketing focus and business plan objectives<\/p>\n
Did the learner (cont.):\tYes\tNo
\nEvidence of interview with identified individual, submitted by the learner:\tRelating to unit\u2019s performance criteria:
\no\tMarketing plan objectives\t2.4 Analyse customer journey to evaluate marketing mix
\no\tSituational analysis
\no\tProposed target market\t2.3 Select marketing and promotional activities to suit target market and according to marketing strategies
\no\tCurrent competitors\t1.3 Identify customer base, target market and competitors according to identified marketing objectives
\no\tProvide a SWOT analysis of Bounce Fitness\u2019 key strengths and weaknesses with the company, and describe the opportunities and threats facing the Company\t1.4 Establish and evaluate strategy to ensure ethical and cultural appropriateness and alignment with customer and industry expectations
\no\tBuilding business growth through product development strategy\t1.1 Identify focus of marketing activities according to business plan objectives and products and\/or services being provided
\no\tProvide an overview of the market potential growth in for the new business venture in terms of:
\n–\tKey\/s to success\t4.1 Assess business performance according to business plan objectives
\n4.2 Develop a plan to address performance gaps
\n–\tCritical issues for consideration
\no\tDevelop the marketing mix (7Ps) that will be used to position Bounce Fitness Caf\u00e9 to meet its customer needs. In addition, you must provide consideration for a digital marketing strategy, which will focus in achieving greater customer reach and engagement.\t3.1 Plan marketing activities according to marketing objectives and strategy and budgetary requirements
\n3.4 Assess use of digital devices, platforms and technologies for effectiveness in implementing marketing activities
\no\tAs the General Manager Marketing, you are required to provide a financial overview to address sales and expense forecast to ascertain the business\u2019 profitability\t4.1 Assess business performance according to business plan objectives
\n4.2 Develop a plan to address performance gaps
\n–\tFinancial forecasts
\n–\tExpenses forecasts
\n–\tImplementing the marketing plan\t3.2 Communicate roles and responsibilities to required people according to marketing plan and workplace procedures<\/p>\n
Did the learner (cont.):\tYes\tNo
\nEvidence of interview with identified individual, submitted by the learner:\tRelating to unit\u2019s performance criteria:
\no\tReviewing the marketing plan\t3.3 Monitor implementation of marketing activities according to marketing plan
\n4.3 Analyse stakeholder response to all aspects of marketing mix to improve targeting and outcomes
\n4.4 Assess changes in customer requirements in both online and offline environments, where applicable, and identify opportunities for improvement
\no\tContingency planning\t4.2 Develop a plan to address performance gaps
\n\u2022\tMake an appointment with the Board of Directors to make a formal presentation of the marketing plan and action plan completed in Task 2 Activity 2.\t1.2 Establish marketing objectives in consultation with required people and according to business plan and workplace procedures
\n4.3 Analyse stakeholder response to all aspects of marketing mix to improve targeting and outcomes<\/p>\n
\u2022\tUses communication techniques appropriate to audience to communicate:
\no\tFollows logical sequence when discussion and does not jump from topic (sample nursing essay examples by the best nursing assignment writing service) to topic (sample nursing essay examples by the best nursing assignment writing service)
\no\tEnsures explanations are concise yet meaningful
\no\tProvides sufficient evidence to support their statements
\no\tAnswers questions raised by the audience about concepts discussed
\n\u2022\tUses communication techniques appropriate to environment to communicate:
\no\tProjects voice sufficiently throughout the room in the absence of a mic
\no\tMaintains professional behaviour and standards during communication to establish and ensure credibility
\no\tUses appropriate body language (e.g., eye contact) that can be observed throughout the session
\no\tSummarises discussion point or questions from the speaker to confirm understanding
\no\tProvides relevant responses to the person\u2019s questions<\/p>\n
Task 2 has met satisfactory performance requirements \t\u2610<\/p>\n
Task 2 has not met satisfactory performance requirements (please refer to the feedback on Canvas commentary section)\t\u2610<\/p>\n
__________________________________________<\/p>\n
Factors Affecting Financial Viability of Business Ventures
\nGeneral economic trends: Economic trends can impact the financial viability of business ventures by influencing consumer spending, market demand, and overall economic stability.
\nFinancial returns: The level of financial returns directly affects the profitability and sustainability of a business venture. Higher returns attract investors and provide the necessary capital for growth and expansion.
\nCost of operations: The cost of operations directly impacts the profitability of a business venture. Higher operating costs can reduce profit margins and hinder financial viability.
\nChanging business technology: Technological advancements can both positively and negatively impact the financial viability of business ventures. Embracing new technologies can enhance efficiency and competitiveness, while failing to adapt can lead to obsolescence and loss of market share.
\nBusiness Risks and Viability
\nFinancial risks: Financial risks can significantly impact the viability of a business idea. These risks include market volatility, economic downturns, and poor financial management, which can lead to financial losses and even bankruptcy.
\nHuman resources risks: Human resources risks can affect the viability of a business idea by impacting employee productivity, morale, and retention. Issues such as a lack of talent, conflicts, and unethical behavior can hinder business operations and success.
\nPhysical risks: Physical risks pose a threat to the viability of a business idea by potentially damaging physical assets and disrupting operations. Events like fire, natural disasters, theft, and vandalism can lead to financial losses and operational disruptions.
\nFormats and Methods of Business Presentations
\nFormats:
\nBusiness plan presentation: A comprehensive summary of the business idea, including its purpose, business model, funding requirements, and development status.
\nPresentation template: A structured format that includes sections such as problem identification, proposed solution, and product\/service demonstration.
\nMethods:
\nSales presentations: Presentations aimed at persuading potential customers to purchase a product or service.
\nPitches to investors: Presentations designed to attract investment by showcasing the business idea, its potential, and financial returns.
\nTraining sessions: Presentations used to educate employees or stakeholders on specific skills, processes, or knowledge.
\nStatus updates: Presentations providing updates on the progress, achievements, and challenges of a project ( help with nursing paper writing from experts with MSN & DNP degrees) or business.
\nProject reviews: Presentations evaluating the performance, outcomes, and lessons learned from a specific project ( help with nursing paper writing from experts with MSN & DNP degrees).
\nStrategy summaries: Presentations outlining the strategic direction, goals, and initiatives of a business.
\nMarketing events: Presentations delivered at events or conferences to promote products, services, or the overall brand.
\nSteps for Conducting Market Research
\nClear research objectives: Define the purpose and goals of the research.
\nDecide the research approach: Determine the methodology and techniques to gather data.
\nChoose the research instrument: Select the tools and methods for data collection, such as surveys, interviews, or observations.
\nMake a sampling plan: Determine the target population and the sample size for data collection.
\nCollect all information: Gather data through primary and secondary research methods.
\nAnalyze the information: Process and interpret the collected data to derive meaningful insights.
\nPresent the findings: Communicate the research findings through reports, presentations, or visualizations.
\nDecision making: Use the research findings to make informed decisions and take appropriate actions.
\n3 Questions for Designing a Research Sample
\nWho enters the marketplace where my products are sold? Understanding the target market and its characteristics is crucial for designing an effective research sample.
\nWho are my respondents representing? Identifying the relevant stakeholders and their perspectives helps ensure the sample represents the target population accurately.
\nHow can I gain an accurate market research sample and obtain better data as a result? Considering sampling techniques, sample size, and data collection methods can help improve the accuracy and reliability of the research sample.
\nReferences:
\nPorter, M. E. (2016). What is strategy? Harvard Business Review, 74-92.
\nKotler, P., & Keller, K. L. (2016). Marketing management. Pearson Education Limited.
\nHair Jr, J. F., Wolfinbarger, M., Money, A. H., & Samouel, P. (2019). Essentials of business research methods. Routledge.
\nSaunders, M. N., Lewis, P., & Thornhill, A. (2016). Research methods for business students. Pearson Education Limited.<\/p>\n","protected":false},"excerpt":{"rendered":"
BSB40320 Certificate IV in Entrepreneurship and New Business Term 4 2023 assignment Student Details\/ Declaration Unit of Competency BSBESB302 Develop and present business proposals BSBESB404 Market new business ventures I declare that (please tick): \u2612 I fully understand the context and purpose of this assignment. \u2612 I am fully aware of the competency standard\/ criteria […]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11556,8770,10717],"tags":[11687,64,11688,1402],"class_list":["post-136001","post","type-post","status-publish","format-standard","hentry","category-assessment-assignment","category-assessments-help","category-written-report-assessment","tag-bsb40320-certificate-iv-in-entrepreneurship-and-new-business","tag-do-my-homework","tag-factors-affecting-financial-viability-of-business-ventures","tag-write-a-paper"],"_links":{"self":[{"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/posts\/136001","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/comments?post=136001"}],"version-history":[{"count":1,"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/posts\/136001\/revisions"}],"predecessor-version":[{"id":136013,"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/posts\/136001\/revisions\/136013"}],"wp:attachment":[{"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/media?parent=136001"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/categories?post=136001"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/tags?post=136001"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}