How to conduct analysis for business plan
Assignment Help conducted the below analysis of the macro environment affecting business. The factors represent the political, Economic, Social, and Technological factors.
Political- this is where the government makes auto policies that are aimed at promoting the integrated automobile industry in the country. The factors involve the approval of the government to allow starting the business with no minimum criteria.
Economic- this involves the low cost of labor and the availability of raw materials. Msn Motorbike Company will enjoy the less interest rates that allow people to access loans.
Social- this is where there is numerous culture that uses motorcycles as the primary means of transport.
Technology- this is where the company will enjoy innovations in technology that will assist the company in designing motorcycles that are economic in fuel consumption.
Porter’s 5 forces
A five forces consideration of Msn Motorbike Startup Company requires the consideration of external factors in the industry. The following is a five forces analysis of the company.
- Competitive rivalry ( strong force)
- Bargaining power of the consumers (strong force)
- Bargaining power of suppliers (weak force)
- The threat of new entry (moderate)
- The threat of substitution (strong force)
In designing new motorcycle brands in the company consumer opinion with be greatly valued. The company intends to start a business that suits the consumers and therefore the opinions of the company will determine the type of brand that the company will design. The client’s opinion will assist the company in increasing the customer base. It is, therefore, important for the company to hold high regard to the clients’ opinions.
Homework Help states that in determining whether the company will be using the internal resources effectively, there will be set targets that will assist in evaluating the performance. Setting goals will ensure that the internal resources set aside by the firm are effectively used.
The team of the company will not be very big as it will be starting. The team will comprise of the two founders that are me and my partner, the technical staff, and the support staff in the company. The team will be small at the beginning but with the expansion of the company the team will also be expected to expand.
The marketing plan of the company will be based on the marketing mix i.e. Promotion, product, pricing, and place. The company will be holding promotions at different places in the country to explore new markets. Also as a way of marketing the company will be advertising and sponsoring activities to market its new brand. The main areas that the company will be focusing on is promoting the product among the youth who have the culture of using motorcycles.
The sales plan for the company will involve opening with a customization show and competition where during the first month the company will be offering 15% discount on all purchase of over $1500 and 10% to motorcycle parts. The plan will be aimed at increasing the company’s sales and building a customer base.
The Concept of what you sell before you launch
The concept of what you sell before you launch will apply in the business. The company will ensure that no product is sold before the official launch of the brands. Selling before launch allows imitation of the products is making the company incur losses and lose the market.