Olympic games product energy bars
Our Target Market 5 2. Competitors 5 2. The Future 6 3. Proposed Management and Production Structure 6 3. Business location 6 3. The bars are healthy, and for the business, to boom, they will be sold to athletes as the sport is well known and most people enjoying watching. The bar will also be sold to the audience so as to maximize profits and allow recognition of the product. It is imperative to add flavour to the bars as they will keep the customers coming for more as well as give a chocolate coating to the bar to make it attractive and appealing. Another market opportunity for the product are the major events of running bikes (Mueller, & Hingst, 2013). The number of people who participate in this sport is immense hence the product will have a good sale as it will be distributed on the roadsides, at bike shops and during the day of participation for the event.
However, the market has greatly increased for our product as more Olympic sports are explored daily. Over the years a new sport has been embraced known as rock climbing, and with the increase in $8,000,000 expenditure as a result of the sport we hope to grab this opportunity and make use of it. This will push the business higher and expose us to a wide range of consumers (Aiello, 2014). It is noted that whenever this sport is being participated, people come from all over the world as they find the mountains and rock a real natures beauty hence the more, the merrier for the business. The demand of the energy bars to a diverse number of the audience brings popularity and good sales to our product.
Competitors When talking about the competitive advantage, the snack is destined to impact the consumer with energy without taking a meal. We make sure that our energy bars are made available to the consumer on demand. As for the competitors, they offer a shopping experience, and one is not able to enjoy the bar with friends. Since we have decided to cater for those climbing mountains, we encourage not only the experienced climbers but also the inexperienced (Hannigan, & Richards, 2017). The employees are trained to treat customers with respect and bring a smile on their face even though it’s not easy. Business location The best location for energy bars will be in Oregon a state in the pacific northwest region of the United States as it has been reported to have held the best Olympic event in 2012.
Secondly, Oregon is a huge and beautiful scenery hence a massive crowd to support the product. There are mountains, farms and beaches that will attract tourist to the area hence posing a great opportunity for us to showcase the product (JONES et al. Energy bars will establish a store but a climbing, cultural centre for regular visitors to Oregon. It is important that the first tactic is to focus on the climbers all over the world as the sales and market trends will grow steadily. Some of the products will be dropped in bike stores, and others will be communicated when to take during an event. Through the trusted team players of the bike races, the product will be distributed even to another town once they have travelled for a sporting activity and still need the snack.
We are also prepared to offer our potential customers a pleasant and comfortable location to buy the product directly from our stores as well as our website. Pricing Strategy This business is not a game where we are making trial and errors but rather a venture where all efforts and hopes are derived from keeping people healthy and also making profits. When the product is out there for publicity, we encourage impulse buying as consumers will always come back if they find the product good (Crainer, et al. All ban account numbers will be made available on our websites, and the clients can also pay via bank transfers, online banking, checks, mobile money and cash. Financial Projection and Costing With a positive cash balance, the business will grow moderately hence build a classic business that will allow profits.
According to the calculations, issues estimates have been recorded that for media and advertising cost it will go up to the next two years. It is important to avoid arguments that may bring about negative profits by familiarizing ourselves with our competitors. The following is the planned budget for the start-up cost: Total registration fee for the business in Oregon $650 License and permits $6,000 Launching website $500 Cost of equipment $15,000 Cost of opening parties and launches $5,000 Inventory cost $500,000 Media and publicity $200,000 Miscellaneous Activity $5,000 References Aiello, L. Issue 4, p323-344. p. Diagram, 1 Chart. DOI: 10. Database: Business Source Complete By: Crainer, Stuart. Issue 1, p14-34. p. Diagram, 13 Charts, 10 Graphs. DOI: 10. jmr. Event Management. Dec2018, Vol. Issue 6, p917-931. p. DOI: 10. The Olympic Games Effect: How Sports Marketing Builds Strong Brands.
Hoboken: John Wiley & Sons. Großbritannien. Olympic Games and Paralympic Games 2012: legacy: Oral and written evidence. London: Stationery Office Books. Strategic public private partnerships: Innovation and development. Cheltenham: Edward Elgar Pub. Ltd. Mintzer, R. M Company. Wickman, G. Traction: Get a grip on your business. Dallas, TX: BenBella Book. Appendices Appendix 1- Top Snack, Cereal Nutrition Bars The result of the tables shows the best cereal nutritional bars and when they are consumed most. According to Muller 2013 the energy bars are consumed mostly during lunch hours as people require energy to push through the day.
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