Having been stuck at home for the last few months, your friend Abigail is excited by...
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Having been stuck at home for the last few months, your friend Abigail is excited by a new business idea. She asks for your feedback on the sales section of her new business plan. Abigail's Amber will create and sell jewellery made out of my favourite stone: amber. I have lots of experience in making jewellery and a whole bookshelf full of fine arts and crafts books. The jewellery will sell online for around $100 per piece, though it will look like it costs much more. The main promotion will be by getting livestreaming musicians to wear my jewellery and mentioning it in their concerts, in return for getting it for free. I already have a relationship with a few Sydney-based artists who love my work and currently wear my pieces. They have told me they would be happy to mention me if I set up a business and also introduce me to their friends. Required: Question 1: Explain the most important features of a sales plan, with reference to the 'Four Ps. (4 marks). Question 2: Provide four (4) comments as to the strengths and weaknesses of the above sales plan. Your comments should include at least one strength and one weakness. (8 marks). Question 3: Provide two (2) recommendations for improving the plan AND one low-cost way that the business idea could be tested before launching. (8 marks). Having been stuck at home for the last few months, your friend Abigail is excited by a new business idea. She asks for your feedback on the sales section of her new business plan. Abigail's Amber will create and sell jewellery made out of my favourite stone: amber. I have lots of experience in making jewellery and a whole bookshelf full of fine arts and crafts books. The jewellery will sell online for around $100 per piece, though it will look like it costs much more. The main promotion will be by getting livestreaming musicians to wear my jewellery and mentioning it in their concerts, in return for getting it for free. I already have a relationship with a few Sydney-based artists who love my work and currently wear my pieces. They have told me they would be happy to mention me if I set up a business and also introduce me to their friends. Required: Question 1: Explain the most important features of a sales plan, with reference to the 'Four Ps. (4 marks). Question 2: Provide four (4) comments as to the strengths and weaknesses of the above sales plan. Your comments should include at least one strength and one weakness. (8 marks). Question 3: Provide two (2) recommendations for improving the plan AND one low-cost way that the business idea could be tested before launching. (8 marks).
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1 The marketing mix is a tool used to help brands understand what elements must be combined in order to meet their marketing goals and objectives Ultimately this includes the 4 Ps of marketing product ... View the full answer
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Managerial Accounting A Focus on Ethical Decision Making
ISBN: 978-0324663853
5th edition
Authors: Steve Jackson, Roby Sawyers, Greg Jenkins
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