Business Feasibility Plan
Date plan completed: DD-MM-YYYY
Members: Anshiqa, Yun Jun, Dan Rei
Internal and External Influences of your Business
Ad your service
We, at Ad-xperts will be at your service, always. We will help you advertise your business/product every where from newspaper to online advertisements.
In the years to come, we envision our company to grow bigger and to reach out internationally. We will be sought widely for around the world due to our amazing commercials. We will strive to impact and innovate with new and improved advertisements.
To be drafted and completed after Financial plan in Term 3
We will create advertisements for companies. Our advertisements will include both video and poster types, to suit every customer’s needs. We will be providing services to other companies only, being a B to B business. We will forge good relationships with our customers by providing excellent services and advertisements.
Legal Business Structure:
We will have different people to do different jobs like artist, digital artist, designer, call manager. This will help us to work more efficiently and pump out more advertisements for other companies.
B to B.
Raffles Place business district.
Your Market research results and your findings after evaluation of the results.
Target Market: Other companies that would want to promote their products
Competitors: Our competitors will be be other advertising companies in that area. To outdo them, we will keep innovating and upgrading with each advertisement, as well as vary prices.
Pricing strategy: We will rational the price of our service accordingly, depending on our competitors. However, we will start off with a low price so as to attract business, which might not want to spend too much money on ads. Then, as we build on, we will raise the price, but not too much.
Potential Demands: To pump out more advertisements faster. Celebrity endorsements. Precise requirements. e.g a longer video, a vibrant poster.
Product: Innovative and attractive advertisements. Our employees are confident and provides excellent customer service so as to retain old customers and bring in new ones. We will print our posters on a good quality material to make it more durable and able to withstand various conditions.
Price: Contribution margin-based pricing: This strategy ensures maximum profit while maintaining the constant units produced. Our pricing will be cheaper than our competitor and will have the same value. We use price to market our product to make our services more enticing. We will have promotion prices at times and also maintain the highest quality we can afford.
Promotion: Set up poster frames and paste our own poster, containing contact details and plans of the office. We will also promote through sales, e.g. 25% sales annually. We will build a good corporate image by advertising for well-known businesses. We will offer an extra service of creating multiple versions of the advertisement too. E.g 2 posters in a pack for a cheaper price than 2 individual posters.
Place: We will set up our company in a business district, so we will be surrounded by a multitude of companies. This way, we will be seen and known by those businesses, who will then proceed to hire us to market their own business.
Cash Flow Statement