This week, Jordan, Rob and I were required to write our company description. We met in the library and drafted the description together from one computer. We wrote our description based on the link provided in the checklist, indicating what needed to be addressed in the document. To collaborate, our group discusses the objectives of our company out loud and then we type up what we agree on.
For the company description, we were required to indicate specifically how we were going to meet our market's needs. Our market is vacationers and their needs are to experience and take part in leisure and recreational activities in our beach environment. We described the services we would offer. We also specifically defined the individuals who would have these needs, which is basically all types of vacationers (more younger). The last thing we were required to do was to indicate our competitive advantage and exactly what we would do that would differentiate us from other water sports companies. As a group, we decided these would be our location, our partnership with the resort, a strong knowledge of water sports, and a great relationship with customers.
Our collaborative writing process this week to draft the company description was positive and efficient, although we all agreed that it is becoming a little repetitive, as we repeated a lot of aspects already covered in the market analysis.
Wednesday, March 12, 2008
Tuesday, March 4, 2008
Market Analysis Plan
We met as a group today and discussed our Market Analysis Plan.
We started by talking about locations and visiting different locations in SL for our waterspouts business and we decided that the best place would be Key West. Hopefully in or near a resort to attract a more touristy crowd.
Next, we talked about the target market, which included middle to upper middle class families, this includes children to seniors.
We tried to gather as much information about the size of our target market and define the levels of our pricing, and our gross margin levels. We discussed competition and how that might effect our Market plan.
We accomplished a lot during the meeting and looking forward I feel confident about our business.
We started by talking about locations and visiting different locations in SL for our waterspouts business and we decided that the best place would be Key West. Hopefully in or near a resort to attract a more touristy crowd.
Next, we talked about the target market, which included middle to upper middle class families, this includes children to seniors.
We tried to gather as much information about the size of our target market and define the levels of our pricing, and our gross margin levels. We discussed competition and how that might effect our Market plan.
We accomplished a lot during the meeting and looking forward I feel confident about our business.
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