Small Business Management

1.)

“Pricing and Globalization Strategies” Please respond to the following:

  • Using the Internet or Strayer database, analyze pricing techniques for established products and services. Next, select and explain the pricing strategy you would use for a business. Within your response, you should also identify three (3) objectives this strategy seeks to achieve.
  • Discuss three (3) strategies you could use for the development of a successful website to support a new business. Be specific in stating how these strategies will help the company achieve its goals.

2.)

Student Response – Diana Ruiz

  • Using the Internet or Strayer databases, analyze pricing techniques for established products and services. Next, select and explain the pricing strategy you would use for a business. Within your response, you should also identify three (3) objectives this strategy seeks to achieve.

Pricing strategies I would use an analyze data. I would take a survey from all the local gyms and recreation centers. Then average it out plus take in consideration on the area where the recreation would be located it. If the area is a wealthy area, then the pricing for membership would be higher. However, for the first year we would be pricing a moderate price and take a survey on the members output for pricing, equipment, and customer service. Most gyms are charging up to $120 monthly for membership, while others are charging low as $10 with a hidden charge fee. Most gyms will ask for enrollment fee when signing up and have a one-year contract. The recreation center will ask for donation when sign in up and one-year contract. We would need commitment from members to use the facility as well try out the classes.

  • Discuss three (3) strategies you could use for the development of a successful website to support a new business. Be specific in stating how these strategies will help the company achieve its goals.

Having a website to promote business, it must be creative and easy to find what are you looking for. The website will have our logo and pictures of members and classes. The website main page will have:

  • Name of the business and location
  • Mission statement
  • Promotion or Sales
  • Contact for more information
  • Tab of different categories:
    • Services
    • Classes
    • Trainers
    • Financial Assistance
    • Events
    • Volunteers
    • Partnership
  • Search Button
  • Testimonial

The website would be link to all social media like Facebook, Twitter, Snapchat, and etc. We will promote on social media and link to our website. As website will be setup we will have a staff get back to them in timely manner if they have questions on specific classes or events. Have a directory of our staff name and phone numbers for more information.

3.)

Assignment 2: Feasibility Analysis
Due Week 6 and worth 135 points

“A feasibility analysis is a chance to open your eyes, ask yourself some very tough questions, then check to see whether your idea, as originally conceived, needs to be modified, refocused, or changed dramatically. (Or perhaps even scrapped altogether.)” (Abrams, as cited in Scarborough & Cornwall, 2015, p. 237).

With this assignment, you will be addressing the fundamental question: Does this business have profit potential?

Referring to the same business you either started or purchased in the first assignment, write a three to four (3–4) page paper in which you:

  1. Conduct a feasibility analysis in which you research:
    1. Industry and Market Feasibility
    2. Product or Service Feasibility
    3. Financial Feasibility
    4. Entrepreneurial Readiness
  2. Based on your assessment, does the business idea need to be modified, changed significantly, or abandoned? (Note: If you abandon the business idea, then you will need to select and analyze a new business that has profit potential.)
  3. Include at least two (2) references outside the textbook.

Your assignment must follow these formatting requirements:

  • Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; references must follow APA or school-specific format. Check with your professor for any additional instructions.
  • Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required page length.

The specific course learning outcomes associated with this assignment are:

  • Describe and analyze the necessary activities and key decisions to start a small business.
  • Use technology and information resources to research issues in small business management.
  • Write clearly and concisely about small business management using proper writing mechanics.

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