You can download the solution to the following question for free. For further assistance in Business Management assignments please check our offerings in Management assignment solutions. Our subject-matter experts provide online assignment help to Management students from across the world and deliver plagiarism free solution with free Grammarly report with every solution.
(ExpertAssignmentHelp does not recommend anyone to use this sample as their own work.)
Your company produces a high quality range of sunglasses that competes with upscale brands such as Prada and Oakley. You have been asked to produce a business plan that presents your recommendations for market entry into a country of your choice. You can choose any country to enter. It can be your own or one that you are familiar with. Once you have made your choice you should then attempt the two parts of the assignment as follows:
Feasibility Study – initial deliverable:
Your first task is to produce a feasibility study, which is worth 35% of the total mark and has a word limit of 1200 words. The aim of the feasibility study is to provide an overview of the business plan project, a review of the country you have decided to enter along with a rational for why this option has been chosen.
The feasibility study should broadly cover the strengths and weaknesses of the project and the prospects for its success.
Above all, the feasibility study aims to show why you think your idea will work supported by appropriate evidence.
Business Plan – second deliverable.
Once the Feasibility Study has been submitted and reviewed you should then produce your final Business Plan. The Plan is worth 65% of the final mark and has a word limit of 3000 words. The Plan should develop the Feasibility Study and contain the following:
1) A review of the external environment of the chosen market and how you expect this to affect your plan.
2) A review of the market environment of the country you are entering. Typically, this will include a review of income levels, culture, buying behaviour and market segmentation.
3) A SWOT analysis of this opportunity.
4) The objectives you would set yourself in your plan, based on your analysis.
5) The entry strategy you would use to access this market with a justification of this choice.
6) A review of how you would implement this plan including the resources you would need.
Please read all questions and information provided carefully. Answer should be made in appropriate length keeping in view the requirement of each question and total word counts allowed. In addition, your assignment should demonstrate the following qualities:
Review your requirements with our FREE Assignment Understanding Brief and avoid last minute chaos.
We provide you services from PhD experts from well known universities across the globe.
No more plagiarism worries. We give you a FREE Grammarly report with every assignment.
This task attempts to design a business plan for a start up organization that focuses to execute business in eye wear products. The company desires to develop specialization in various ranges of eye wears, sunglasses, prescription sunglasses and contact lenses. Competing with the big eye wear brand like Prada has been one of the considerations for these organizations.Venturing into the new market is presently one of the majorconcerns of this particular organization.It has been recorded that the eye problems have multi-folded in this age of advanced technology and it is more so because people, specifically the young generation including the kids and young adults are exposed to the harmful rays of Computer radiation for a longer duration of time (Barrowet al. 2008). Be it for the purpose of work or purely for entertainment basis, the modern generation is supposedly hooked to their computing devices ranging from iPads, laptops, and iPhones to Smartphone and what not. Therefore, the need for introducing eyewear and new improved versions of eye care has become a major driving force in the business marketing segment of the respective industry as the matter has turned to be a regular necessity in this advanced technology driven lifestyle.
Name and Location: The name of the business organization has been decided to be XX Optical and the market selected for business entry purpose is the Sri Lanka belong to Asia Pacific the reason behind selecting the mentioned location is the high demand of eye wearin that particular location. Sri Lanka can be named as the most effective hotspot for this industry to spread its wings in order to serve a wide range of customer or consumer base.
Mission: The primary mission of this organization is to deliver customer satisfaction and increase the customer loyalty factor. In addition to this the company attempts to venture the new market location in order to expand its eye wearbusiness with bringing greater amount of diversity in the product ranges. Providing affordable ranges of eye wear product are also included within the mission of this organization. In this regard, the market of Sri Lanka can be mentioned as a potential contender for given the economic condition there, the eye wear industry is bound to have a good grip in the competitive market. Though competition is not so severe in Sri Lanka but the demands have increased to a great extent, thanks to the technological advancement.The countries are mostly found to be under the category of Asia-Pacific on which the conceived plan of business can be applied.
Be it designer glasses or regular wear contact lenses – the eye wear industry is a growing one for there's a pressing demand for these things and all these can be attributed to the technological advancement that in turn has caused the modern generation to get addicted to their technological devices as well as get strained and impaired in the vision segment. The eye problem has caused an upsurge in the eye care industry for more often than not, people use specs or lenses or for the trend purpose, the fashion accessory sunglass.
Predictions with respect to the trend of the industry:the concerned XX Optical organization had focused to expand its business with its entry into a new segment of business market. By this expansion approach the company attempts to utilize the opportunities available in the selected business market. Also it is assumed based on the previously performed market research that there is a clear indication of huge amount of potential customers (Flasch, 2008).
Sri Lanka can be termed as a major country having immense potential for this industry to flourish as well as spread networks throughout the nation (Enderlein, 2010). Also the younger generations are considered to be the potential reserve of customer as they show a tendency to include fashionable eye wear in their wardrobe(Burrow and Kleindl, 2012). In case of Sri Lanka also, the potential consumer base would largely comprise of younger generation and those who have regular visual interaction with computing devices. The industry is here to stay and more so in case of Asia Pacific countries with special emphasis on Sri Lanka.
The product range: The concerned organization attempts to include a diverse range of eyewear products including optical frames. The products like sunglasses, prescription glasses, contact lens, prescription sunglasses are included in this new expansion plan. A detailed note on the type of product this concerned organization has decided to include during its entry in the new market are the eye wears that are light weight, thinner, stylish and scratch resistant in nature (Kering.com, 2015).
Polycarbonate lenses: the polycarbonate lenses are one of the presently available impact resistant eyeglass lenses that are favored by a huge pool of customers. Keeping this unique quality of the polycarbonate lenses this product range may be opted for keeping in this within the product list. The other benefits of such polycarbonate frames durable in nature and convenient for the use of children and it also provide protection from the ultraviolet rays.