My professor commented
Your marketing plan still lacks the specific information that is required of a marketing plan. You are still skirting many issues and are not really telling me enough information to determine whether this plan is viable or not.
I have many of the same critiques that I had in the feedback in Attempt 1. Age and Demographics of the Target Market. Are you reselling or are you manufacturing product? You have given me pricing chart and listed the various products, but how much do you plan on selling? You have given me the profit chart, but what are your goals for achieving sales that will provide that profit? Sure this is difficult to imagine, but you must do it.
How much in sales does the sex toy industry make annually? I am sure there is room for growth, but how much is that growth expected to be from the financial experts?
Your 4Ps need to be expanded and more information is needed for you to describe your products’ value and your promotional efforts should be more detailed.
You have chosen to write on this industry, which is a difficult and delicate topic to write about. But you can do it.
BUSINESS PLAN 2
Operationa l and e ffective business administration hugely depend on efficient planning. A
business plan encompasses a laborious process that highlights numerous elements, events, and
procedures involved in various stages a nd information and people required to achieve every
activity. It is thus vital for business people and aspiring financiers to understand that both startups
and existing business orga nizations require a business plan. Through a business plan, business
entities can create an efficient growth strategy and establish their future financial goals and needs
while attracting investors and lenders(McKeever, 2016). Therefore, the study intends to offer an
effective business plan that will outline; the mission statement, industry and target market, the
structure of the business, products, a nd services offered, the problems solved by the
prcx:luctiservices offered, and the unique selling points.
The intended sex toy company shall be located in the United States, with New York City
being the primary location of the business. From New York City depending on sales and revenue,
the company shall expand exponentiaJJ y widening its reach to more states and more cities. The
U ni ted States is a preferred and suitable location due to its increa sing population of youngsters
with a strong purchasing power. Young people from the ages of 20-35 years sha ll be the primary
target market for the business. This business shall opera te using the e-commerce mcx:lel, where
customers shall make orders online, which shall then be fulfilled by the company to ensure and
guarantee privacy a nd anonymity of the customers.
The Mission Statement
Mission statements offer a clear objective for workers hence improving their job
performance and commitment to work. The mission statement consequently motivates workers to
work to meet the business’s long-term growth plans. The following is the mission statement for the
BUSINESS PLAN 3
“To he lp humankind thrive by permitting all individuals to work together pain less ly.”
Industry and Target Market
Products and setvices are often produced to satisfy the need of a particular market. Industry
and target market often play an essential ro le in determining benefits and how such services are
offered. The “sex toy” market is marred with sign正icant levels of competition from山fferent
su ppliers. To penetrate t he market requires good planning and effective product positioning in the