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BUSINESS PLAN

Company Mission Statement

The company mission statement describes what the purpose of a company is.

Company Vision Statement

The business statement describes what your business will look like in three, five, or ten years. Your idea of what your company should be.

Company Objectives

What results must your business achieve to be successful? List 3 goals that your business should achieve to be successful

1.

2.

3.

Marketing

A. List three characteristics/demographics of your target market.

1) Age range:

3) Where they are located: _______

B. List and describe three ways of advertising to reach your target market

Services/Products

List and describe an example of 3 products or services that your business will offer. Include a picture for each product and list the characteristics of the product (e.g. for a clothing store mention sizes, colors, etc.). How do your business differentiate from competitors?

Choose any business of your choice and answer the following questions:

Company Name: _______________________________________

Company Mission Statement

The company mission statement describes what the purpose of a company is.

Company Vision Statement

The business statement describes what your business will look like in three, five, or ten years. Your idea of what your company should be.

Company Objectives

What results must your business achieve to be successful? List 3 goals that your business should achieve to be successful

1.

2.

3.

Marketing

A. List three characteristics/demographics of your target market.

1) Age range:

3) Where they are located: _______

B. List and describe three ways of advertising to reach your target market

Services/Products

List and describe an example of 3 products or services that your business will offer. Include a picture for each product and list the characteristics of the product (e.g. for a clothing store mention sizes, colors, etc.). How do your business differentiate from competitors?

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Explain why marketers study buyer behavior and discuss characteristics affecting consumer behavior. Which characteristics do you think would have the greatest impact on your decision to select a restaurant to celebrate a special occasion, such as a birthday or anniversary?

Richard, a non-urban dweller and a socially active person, wanted to spend a long holiday at a famous beach resort in the Philippines. He learned about the target tourism spot from a Web site and social media advertisements. When Richard looked up this beach resort on the Internet, he found online communities that discuss particular experiences at the resort. He also consulted his friends about traveling to the country and received feedback. In this scenario, identify the external factors that can influence Richard’s purchasing decision.

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A few years ago, Amazon has introduced Amazon Hub Locker system for more convenient and secure deliveries to customers. In certain public stores such as Whole Foods in this problem, they installed lockers for their Prime deliveries. When customers request to have their Prime orders delivered to Hub Locker, then the products are delivered to a Whole Foods store. When there are available lockers, then the orders will directly be stored in lockers and customers are notified with secure codes, so that they can find their deliveries while they are shopping. When there are no available lockers, then the products will be kept in some space at the store. As soon as there is an available locker, they will be moved to one of the lockers.

Consider a Whole Foods store where 50 lockers are installed, and suppose that the Hub Locker requests (i.e., orders to be delivered in Hub Locker) arrive with a Poisson process with a rate ? = 120 per day. Suppose that when a customer is notified that their orders are stored in Hub Locker, then the time it takes to pick up their orders is exponentially distributed with mean 8 hours.

1. Explain that the Hub Locker system can be modeled as an M/M/s queue. What is the “server,” and how are service times modeled? Specify the parameters ?, µ, and s that can be used for analyzing this system via Q.xls.

2. What is the average delay, defined as the average time between when a product is arrived to the Whole Foods store and when it is moved to one of the lockers?

3. What is the average number of orders that are arrived to the store but not stored in the lockers?

4. What is the probability that an order will not experience the delay, i.e., it will directly be stored to one of the lockers?

5. Suppose that the service becomes more popular and the rate ? is increased to 135 per day. If you would like to meet a service requirement that the proportion of orders which experience the delay is less than 10%, how many additional lockers are needed?

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Rousseau Company uses the periodic LIFO inventory estimation method. At the beginning of the current fiscal year, the company’s inventory consisted of the following:

These units were produced over several years, during which inventory costs had increased rapidly. During the current year, Rousseau produced 20,000 additional units of inventory at an average cost of 36 per unit. The average sales price of units sold during the year was 55.

Required Answer the following questions. A. What would be Rousseau’s gross profit and average gross profit per unit if it sold 20,000, 24,000, 28,000, or 36,000 units during the year?

B. Assume that Rousseau sold 36,000 units during the year. How many units would it need to produce to minimize the tax effect of its gross profit? How many units would it need to produce to maximize its gross profit?

C. If you were a manager of Rousseau and you wanted to control the amount of gross profit reported by the company, what could you do? If you wanted to develop an accounting standard that could prevent this type of management manipulation of income, what kind of standard might you propose?

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