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Creations by Songbird: An Exploration of Marketing and Selling Handcrafted Home Decor

Description

The goal of this project is to gain market research insight into the handcrafted goods industry and apply this knowledge towards a business plan for a small crafts business: Creations by Songbird. We accomplish this goal by conducting primary and

The goal of this project is to gain market research insight into the handcrafted goods industry and apply this knowledge towards a business plan for a small crafts business: Creations by Songbird. We accomplish this goal by conducting primary and secondary research on the crafts selling industry to see who the target customer is and what their habits are. First, we conduct a literature review looking into the background of some known crafts sales platforms. We discover several consistent trends in product differentiation, retail price calculation, and search engine optimization that we will apply to our business plan. Next, we conduct primary market research in the form of observations, customer and business owner interviews, and surveys. We learn that Instagram is a widely used marketing tool and that Etsy and crafts shows are popular sales channels. Using the results of our research we conclude that the our target customers are women ages 18-24 and 50-59 who attend crafts shows several times per year and occasionally browse Etsy. Many of these women enjoy objects that are vintage style and on average they spend less than $50 per item. Applying the industry and market knowledge gleaned from our research we create a business plan that outlines a price/cost breakdown, marketing plan, and sales plan for Creations by Songbird. We plan to utilize Instagram as our main marketing tool and will sell records via crafts shows and Etsy. Based on our estimates, we conclude that Creations by Songbird will be a profitable business.

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Date Created
2018-05

Indoor Cycling: Industry Trends and Small Business Planning

Description

A market analysis on the boutique fitness industry, as well as financial plans and logistical planning of creating a unique indoor cycling studio in the greater Scottsdale area. Through competitive, financial, and technological analyses one is able to better understand

A market analysis on the boutique fitness industry, as well as financial plans and logistical planning of creating a unique indoor cycling studio in the greater Scottsdale area. Through competitive, financial, and technological analyses one is able to better understand the breadth and scope of the growing fitness industry as well as see the potential risks and benefits in opening a small business in this arena.
Health and wellness can be found all throughout the market nowadays. Whether it be from the food people eat or the money people spend on self-care, this trend has created a significant niche in today’s market. Create Cycle is the next big player to be stepping into the mayhem that is the health and wellness industry. Create Cycle is a new indoor cycling experience located in Scottsdale, Arizona. Its mission: to provide people with an unforgettably positive fitness experience where each and every person feels empowered to create love for themselves through state-of-the-art technology. With the fitness industry is quickly growing, and it is imperative for Create Cycle to differentiate itself within the Scottsdale market. Create Cycle will be, in theory, based around an entire experience. The classes will consist of some of the best talent and training one can find in the valley. This will be done through a specific hiring process and strategic organizational structure. The goal is to let experiences in class lead to a strong community following, where Create Cycle becomes the place to be. Its vision: to one day break down the notions of exercising solely for physical appearance but rather for one’s own happiness and for those around them in a larger frame of mind.

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Date Created
2019-05

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Competitive Differentiation Strategy Plan: A Golf Ball Recycling Industry Deep Dive

Description

The On Par Golf team loves and respects the fulfilling game of golf and understands the positive impact it can make in the lives of others. With this in mind, On Par Golf strives to ensure golf ball equipment cost

The On Par Golf team loves and respects the fulfilling game of golf and understands the positive impact it can make in the lives of others. With this in mind, On Par Golf strives to ensure golf ball equipment cost is not a deterrent of play and the game is accessible to all who wish to enjoy it. To better meet this objective, On Par Golf’s competitive differentiation strategy plan serves as a short-term strategic operational plan to determine business best practices and future courses of action. This plan is designed to be quantifiable and versatile to the changing business environment. Over the next three to five years, On Par Golf will be continuing in its growth stage in the business lifecycle, rapidly expanding to support annual volumes by 2022. This document focuses on two major business functions: Supply Chain and Marketing. Each initiative is designed to address specific challenges and create opportunities for improvement in their respective categories to better position On Par Golf for future competitive success. After a variety of internal and external analyses as well as competitive benchmarking, unique approaches were developed for On Par Golf to use to grow its market share and presence. As a result, this strategy determined new methods of demand creation for competitive differentiation and refines the demand fulfillment process for On Par Golf to better serve emerging customer needs.

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Created

Date Created
2019-05

The Foundation of a Startup

Description

The idea of taking an idea or a plan and turning it into a business is an attractive concept to many, including soon-to-graduate college students. Many graduating young adults are offered a chance to go the corporate route and become

The idea of taking an idea or a plan and turning it into a business is an attractive concept to many, including soon-to-graduate college students. Many graduating young adults are offered a chance to go the corporate route and become a cog in a machine, specializing in one task and working that job for an entire career. The freedom of being one's own boss, choosing when to work and when to vacation, with the ability to handle all aspects of a business, can be extremely appealing. On the surface, entrepreneurship may seem easy and exciting, but it is much more complicated. While most entrepreneurs would state that their work is exciting, it can also be difficult and full of long hours working alone in high stress environments. Entrepreneurs must know everything about their businesses if they hope to survive. It is difficult for many college students to understand or have access to the complete picture of what it means to be an entrepreneur. In this document, I hope to provide potential entrepreneurs with a sample of what is included in the monstrous task of starting a business from nothing. While every startup has different challenges and problems that must be solved, there are many general principles that apply to every business. Through this report, I plan to convey those principles in a qualitative manner, applying classroom principles learned at the W.P. Carey School of Business to a real life example of a business startup. The startup I have chosen to analyze is an online life insurance broker, founded under the name "Insurmi.com" by Arizona State University student Sonny Patel. I currently work at Insurmi.com as a content writer and will receive data for this report directly from Mr. Patel. Sonny Patel is a recently graduated Arizona State student who started his business during his junior year. Thus, he is a great example of a student entrepreneur, and a look into his daily habits and responsibilities with Insurmi.com will provide a glimpse into what is necessary to build a startup out of college. The format of this thesis is broken into two sections. The first will be research into the current and future state of life insurance, while the second part will be a case study of the foundations and current actions of Insurmi.com. The defense will include a slideshow presentation made up of useful Insurmi.com photography by Sam Jagoda.

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Created

Date Created
2017-12

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The Best Known Practices of Small Businesses

Description

This study explores the best known practices of small businesses from different entrepreneurs' perspectives and attempts to address the question: are there consistencies between different entrepreneurs' approaches to establishing and growing a business? Ten entrepreneurs from a variety of business

This study explores the best known practices of small businesses from different entrepreneurs' perspectives and attempts to address the question: are there consistencies between different entrepreneurs' approaches to establishing and growing a business? Ten entrepreneurs from a variety of business types (product and service) were interviewed using a consistent question template that asked questions regarding financing, business strategy (and scalability), interpersonal forces, innate qualities, partnerships, and resources. The primary overlaps between these businesses are with regard to the confluence between personal risk and business strategy, the risk of working with friends and family, the capacity to scale relative to special content knowledge or process knowledge, and partnerships
etworking.

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Date Created
2017-12

The Impact of Cultural Industries on economic development in developing countries: An Entrepreneurial Perspective

Description

Africa has some of the "fastest growing economies," yet there is a lack of a middle class (Economist). Natural resources have attracted foreign investments, however, most of the revenue exit these economies. What remains a consistent, permanent advantage is culture;

Africa has some of the "fastest growing economies," yet there is a lack of a middle class (Economist). Natural resources have attracted foreign investments, however, most of the revenue exit these economies. What remains a consistent, permanent advantage is culture; it has been the most integrated core value before and after colonialism. The concept of culture has become a part of the identity of Africa and it has not been leveraged to its full potential. The 2013 Creative Economy Report states, "Culture is a way to create jobs and improve people's lives. It empowers people. It works for development" (UNESCO/UNDP). Cultural industries create local sustainable jobs that are less susceptible to the fluctuation of the global economy compared to jobs in factories and multinational companies. They are based on "local tacit know how" that is not accessible globally as they are people intensive rather than capital intensive (Scott A.J, 1999). Activ8 seeks to tap into this opportunity by maximizing the economic potential of developing economies by investing in their cultural industries. Activ8 aspires to accomplish this by targeting two sets of customers: creators, who are the activators, and investors. Our activators consist of two target segments: one living and working in these industries in a developing country, and the other being refugee clients who may have been exposed to a cultural industry and may want to pursue developing cultural products in their new country of asylum. Our investors are globally minded individuals who want to be culturally aware, have an appreciation for authentic cultural products, or seek to invest in entrepreneurial pursuits in Africa. During our first phase we will focus on the cultural industries in Ghana, West Africa. This will range from products in the textiles industry to sculptures and traditional instruments. We plan to pilot the first phase in Ghana and in the second phase, form a partnership with the International Rescue Committee, a refugee settlement agency, in Arizona. Our goals are to provide education and mentoring, market accessibility, product development, and financing to encourage and empower activators to be self-sufficient and successful cultural entrepreneurs, whiles improving economic development in their communities. Our online store will feature our activators' authentic products, their stories, and the cultural importance of each product. There will also be a platform for entrepreneurs in other industries in Africa to connect with venture capitalists or angel investors around the world. The educational component will be infused with product development and entrepreneurship training derived from the "From AHA!! to EXIT" strategy coined by Aram Chavez from the College of Technology and Innovation at ASU. In order for Activ8 to successfully execute its mission, Activ8 will need to be able to give our team and our activators access to technology, mentorship, and financial resources to operate an online store and rum Activ8's educational program. We also envision creating partnerships with boutiques and retail corporations to adapt these cultural products. Our long-term goal is formulate the conditions conducive for economic growth and sustainable development to ensure Africans become the main agents of development.

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Date Created
2015-12

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Beyond Business: Life and Leadership Secrets From A Young Entrepreneur

Description

A fun, interactive, and practical motivational speaking package designed to inspire and encourage high school and college students, as well as young adults, to achieve success and discover their leadership potential. Using secrets learned from starting my own business, Board

A fun, interactive, and practical motivational speaking package designed to inspire and encourage high school and college students, as well as young adults, to achieve success and discover their leadership potential. Using secrets learned from starting my own business, Board Blazers LED Underglow Skateboard Lighting, and performing as Drum Major of the 400+ member ASU Sun Devil Marching Band, I share tips and tricks that can be applied in everyday life. Topics include surviving in difficult leadership situations unique to young leaders, celebrity confidence secrets, and creating infectious enthusiasm while working on a team.

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Created

Date Created
2014-05

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The Formation and Analysis of a Start Up Venture: Outwork Yourself

Description

This paper takes a look at developing a technological start up revolving around the world of health and fitness. The entire process is documented, starting from the ideation phase, and continuing on to product testing and market research. The research

This paper takes a look at developing a technological start up revolving around the world of health and fitness. The entire process is documented, starting from the ideation phase, and continuing on to product testing and market research. The research done focuses on identifying a target market for a 24/7 fitness service that connects clients with personal trainers. It is a good study on the steps needed in creating a business, and serves as a learning tool for how to bring a product to market.

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Date Created
2014-05

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From Your Idea to Opening Day: The Preliminary Steps to Starting Your Own Business

Description

The following contains the reasons why one would want to start and own their own business, a brief analysis of the author's experience with his own business, and an eight step guide that will lead an individual through the preliminary work that is necessary when starting a small business.

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Date Created
2014-05

Munch: The Better Way to Eat and Experience Dining

Description

The market for searching for food online is exploding. According to one expert at Google, “there are over 1 billion restaurant searches on Google every month” (Kelso, 2020). To capture this market and ride the general digital trend of internet

The market for searching for food online is exploding. According to one expert at Google, “there are over 1 billion restaurant searches on Google every month” (Kelso, 2020). To capture this market and ride the general digital trend of internet personalization (as evidenced by Google search results, ads, YouTube and social media algorithms, etc), we created Munch to be an algorithm meant to help people find food they’ll love. <br/>Munch offers the ability to search for food by the restaurant or even as specific as a menu item (ex: search for the best Pad Thai). The best part? It is customized to your preferences based on a quiz you take when you open the app and from that point continuously learns from your behavior. This thesis documents the journey of the team who founded Munch, what progress we made and the reasoning behind our decisions, where this idea fits in a competitive marketplace, how much it could be worth, branding, and our recommendations for a successful app in the future.

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Date Created
2021-05