Name of the business “OTTA-Healthy Bean Company.”
The company will be confined to producing health beans at reduced price. According to research we conducted, it indicates that there is a high demand for health beans in the country. Many consumers have been affected in the event of travelling from different parts of the country searching for the company that deals in health beans at an affordable price.
1.1 Significant market characteristics
Our market segment is composed of people as well as consumers of different culture. For example, there are those who are after quality products and those who just need any product at a lower price. Therefore, since the business is new, we plan to cater for all customers, and I hope this will create a good relationship with our customers.
1.2 Management team
The human resource department has recruited some both experienced and hard-working personnel, which I think the team will work and move the company forward as per its mission and objectives. Each team will be led by a single supervisor that will report to the company manager on a daily basis. Mrs. Jane Cathy will work as the company director with over 5years of working experience in related field of health products. Winchison Ronald will be responsible for keeping and preparing the company books of account and sales. Alice Kitty will lead the market team with over three years of working in that capacity. Rashid Ali will be responsible for procurement and supply of products and shopping of fresh beans.
2.1 Purpose and scope of the business
The company headquarters and main stores will be situated in Ottawa, Canada; this is because our target customers are more closely in the capital. The city of Ottawa is a busy place due to many surrounding businesses centers. The company “OTTA-Health Bean Company” will be confined to providing the health beans at an affordable price.
2.2 Market analysis
One of the company objectives is to capture and occupy the entire market of Ottawa, Canada. According to population census in 2011, the result indicates that Ottawa has over 883,391 people, representing a significant percentage change of 8.9% from 2006-2007.
2.3 Competitive analysis
We understand that our business is not a new venture in the city, there are currently over 20 companies in Ottawa, Canada, who are engaged in the same business. Strength These companies also offer beans at a lower price every day, from Monday to Sunday promoting and selling beans in the city corners. Weakness Most of these companies do not offer a variety of health beans to their customers. They bring poor quality beans to the market, and most of them have lost a big number of customers. Therefore, I think such trait will help us capture the entire market.
2.4 Secondary research
The data we gathered from different stakeholders and agencies indicates that the existing companies have been operating at the …