Entreprenuership

Q1 . Summarize the information presented regarding the present and proposed harvest-times . Briefly describe the conjunction s 2004 and 2005 objectivesAns . Dale Morris , being a cooking enthusiast , created a raw(a) season mixing in 1993 which was ground on a nutritive yeast extract and used a huge amount of lesser season than other seasonal mixes . This mix being very popular among family and close friends , he resolute to `test securities industry his product via a charity payoff and once successful , he saw an opportunity of a new saleable product . His vision however was stalled br till 2002 referable to lack of startup capital . in conclusion , he raised enough money (a his mother and ii work colleagues to lease machinery and setup a small take facility and bring his product to market stores by deluxe of 2002 . The product was an instant frivol away among customers . Having a sales reason himself , Morris had no problems in coming up with ways to invoke his product . His tasting demonstrations , similar to what he held for family and friends were a hit and attracted enough sales in seven states and to consider augmenting the product line and line inroads to markets in more states as wellIn to expand however , Morris needed more capital . Not however was the market to be expanded , two new products had to be launched as well . This meant additional expenses in product maturation , production advertising and distribution . The present product , although a low common salt seasoning , does not cater to the salt unacquainted(p) market . Thus a salt forfeit variant is to be developed along with an monosodium glutamate based pure tone enhancer . The union s 2004 objectives are to stabilize its menstruation markets in terms of sales and distribution and to achieve a 5 share market share in the menage of seasoned salt , a 10 percent market share in salt substitutes and a 5 percent market share in MSG based flavor enhancers .

Strategy for 2004 concentrates more on existing markets . Although a 10 percent market share in the salt let go of category seems a bit optimistic , it is possible due to the lack of competitors in this market segmentFor 2005 , the company plans to expand to octette new markets namely Los Angeles , Phoenix , Sacramento , Salt Lake urban center , Seattle , San Francisco Spokane and Portland . These new markets make up 17 .1 percent of grocery sales and thus are an attractive market to dab into . Like 2004 here too 5 percent shares for the salt based seasoning , 10 percent for the salt free version and 5 percent market share for the MSG based enhancer are objectified . The methods to be used entrust range from aggressive advertising to tapping into the more health certain West Coast psyche . Price advantages will pull ahead help realize these aims for both existing and new markets . wholly this will be done due to the fact that the company is currently in the market expansion process and has to make unique selling propositions in to capture a large share of the marketQ2 . After...If you want to get a full essay, rule it on our website: Ordercustompaper.com

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