Business Plan for a made up Business

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Business Plan for J MARK

Summary

We as a group of business students were asked to form a new business, choose and promote a product in order to sell it successfully. We are required to build up our own stall within the college and then sell the product every day for 2 hours for 2 weeks long. This Business plan covers the time from 15 November till the 10 of December 2009. The sales revenues were £50. We were £50 by the college for purchasing our selling product and whatever other equipment was needed to run the stall and promote our business.

Company name

We believed that our business name should be unique so we named it “J MARK”. The name is made up of the first letters of all our group members’ first names. “J” for Joy, “M” for Mehdi, “A” for Amir, “R” for Rahila and “K” for Karm. We decided to name our company that since it’s very unique and every group member is part of it. We also had to make sure that our chosen name does not offend anyone in anyway since this could result in loosing customers.

At first we had the Idea of selling I.D strings. Amir came up with the idea since he believed that students would be interested in buying I.D strings. The college provides students with I.D string but they look all the same. The rest of the group agreed with Amirs idea since everyone was very sure that people would like new ID strings with a better pattern/colour or design. Amir’s friend who owns a Mobile phone shop would have get the Product as a whole sale and for a very cheap price. To be hundred percent sure that our product will succeed; we created questionnaires and handed them out in College. The questionnaire was all about questions whether students would buy I.D string and if not what products they think should be sold in the college.

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However, the results of our questionnaires didn’t result positively at all. Every single student who was given the questionnaire answered with a No to the question “Would you buy I.D strings if they were sold in Uxbridge College”. Therefore we had to cancel our Idea of selling I.D strings and thought of something else. Amir then came up with another Idea of selling Soft fizzy drinks with a flavour that we believe everyone will like. Thereafter, we created a new questionnaire to see whether people would be interested in buying Mango and passion fruit flavoured soft drinks and the results ...

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