Friday, February 28, 2014

Customer Complaint Response (Effective Communication)

Here's the scenario:

You have received a complaint from a customer that was treated poorly by a member of your business’ customer service staff.  She wasn’t very specific as to what the problem was but it sounds serious enough to jeopardize losing her as a customer.  You must write a response to her complaint. (Be creative and envision an actual complaint that somebody might have that is specific to your type of business.  It's up to you whether it's a small or large complaint.)

In your response letter:


  • Format your response like a real business letter.  Search online for an acceptable format or use one of the templates provided in Microsoft Word.  
  • Address your letter to Barbara McBride. Her address is 2200 Hamilton Street, Apt. 4, Philadelphia, PA 19123.
  • Use a three-part professional style with appropriate tone and language to explain how the situation will be resolved, what actions will be taken to prevent it from happening in the future and if (and how) the customer will be compensated for the poor treatment. 

Thursday, February 20, 2014

SWOT Analysis

You will create a SWOT analysis for your business.
  • Use Word to create a 2x2 table  
Remember:
  • Strengths and Weaknesses are internal factors that affect your business. 
  • Opportunities and Threats are external factors that affect your business.
Review your text book or personal SWOT analysis for appropriate factors to include for each.  You should have at least 4-6 factors for each box.

Outside of your SWOT analysis, summarize your findings.  What are the key factors that your business must capitalize on?  What factors must your business alter or avoid to be successful?

Type of Business

1. Using the web, your notes and textbook, research and write the definition for these types of business structures:
  • Sole Proprietorship 
  • Partnership 
  • Corporation
  • LLC
2.  Decide which structure would best fit your business. Then write one paragraph explaining the reasons why you feel that it is the best structure for your business.

3. On the web, research how to set up a business.  Then create two separate bulleted lists with at least a complete sentence for each bullet explaining:
  • The legal steps involved in starting a business (about 5)
  • The key steps necessary for creating a successful business (about 10)

Social Responsibility & Ethics

  1. List 4 socially responsible aspects of your business as they pertain to the workplace, marketplace, community and/or environment.
  2. Describe an ethical dilemma that you might encounter in the operation of your business.  How will you respond?
  3. Describe a Green Marketing initiative your business will undertake.

International Business

  1. Select a foreign country that your business might conduct business in. (Not USA or Canada)
  2. Research your country and conduct an environmental scan. You should include:
Political factors
Laws/ Regulatory factors
Economic factors
Socio-cultural factors
Technological factors

  1. International business can take the forms of importing/exporting, licensing, contract manufacturing or direct investment.  What level of commitment is most appropriate for your business?
  2. Assuming that you decide to offer your product in this country, what marketing strategy makes the most sense? (Globalization, Adaptation, Customization)

Non-Price Competition

Describe in detail at least 10 non-price competitive aspects of your business. (Remember, non-price competitive factors include quality of a product, service, financing, added features or benefits… to name a few)

Describe 2 ways your business will compete on price. OR, explain why your business will NOT compete on price.

Note: This is a very important piece of your business plan. This is where you explain what will make your business better/ different/ special/ unique. The non-price competitive aspects of your business are the little things that set your business apart. How will you differentiate your product/ business from your competitor? Why will customers choose your product over a competitors? Research your competitors to see what they do.

Economic Utilities & Company Name

Company Name

  • The name of a business is very important- not only because it identifies the business but also because it tells customers so much about what the business is and what they can expect.  Review at least two resources (websites, articles, etc.) on business names before settling on your business name.  After choosing your business' name, write a brief paragraph explaining why you chose it and what information you believe the name will convey to your customers.
Economic Utilities

  • Recall the five economic utilities.  Of those five, which do you see as being most important to your business and its success?  Explain why.
  • Then in two or three sentences each, explain how the other utilities relate to your business. The five utilities are:
    • Form Utility
    • Time Utility
    • Place Utility
    • Information Utility
    • Possession Utility

Industry


  • What INDUSTRY is your business in?
    • Research online to find a specific industry category that your business would fall into.
  • What competitors does your business have?
    • Local Competitors
    • National/ Global Competitors
    • How do key competitors compare to your business? Discuss their similarities and differences.
  • How is your industry composed?
    • In other words, is the industry controlled by many small competitors or a few large ones?
    • How does the composition affect your business?
  • How large is your industry's market?
    • In other words what are the total sales for all of your competitors?
      • This will require some creative research and educated best-guessing.
      • Come up with a dollar amount. Is it in the millions? Billions?
      • Explain how you arrived at your answer.

Business Concept

Create a one-page document explaining your business idea.   Think about your interests, passions, and how you could turn these into a successful business. 
Include the following:
    a. Explain why you are choosing this business.
    b. Briefly describe the business and its purpose.
    c. What types of products will you sell?
    d. Where will the business be located?
    e. Do you think there is a need (a market) for this type of business? Why or why not?

Index and Other Information

Friday, February 14, 2014

About The Purple Cow Marketing Business Plan

About The Purple Cow Marketing Business Plan:

The Purple Cow Marketing Business Plan is a project-based learning initiative originally created by Marcee Laudick for her Marketing classes at Grand Ledge High School.  The business plan allows students to learn, practice and reinforce marketing and economic concepts by completing assignments that build on and develop a business idea of their own creation.  The business plan is designed as a weekly project that has multiple interchangeable parts that can serve as a capstone to the week's lessons and learning goals.

The "Purple Cow" theme comes from the book of the same name by Seth Godin.  In the book, a Purple Cow represents a unique, new idea or product.  Godin explains that in today's marketplace, consumers' attention is spread so thin that it takes something truly out of the ordinary (like a Purple Cow) to gain customers by capturing some of that attention.  Before beginning the project, students are introduced to this concept and encouraged to come up with a Purple Cow of their own.