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Doing a business plan on exquisite 5 star hotel with booking agency for travel business and need some help with the following questions

1. Who, exactly, are the customers for the product you’ve begun documenting (in Part 3)? What need(s) will your product satisfy for these customers? How can you identify this target market using market segmentation? What is the approximate size of this market? Draft a paragraph about your target market and segmentation.

2. For the purpose of pricing your products, review what you wrote earlier in your business plan about economic conditions (in Part 1) and the industry (Part 2). Also think about your product’s position in the life cycle. What do these factors suggest about the range of prices for your product? How do customers perceive the price(s) of products such as yours? What is your chosen pricing objective? Estimate your fixed and variable costs, and do a break-even analysis as you identify an appropriate pricing strategy. Write two paragraphs about pricing. Save your calculations to include in the financial projections part of the business plan.

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7. Next, focus on your promotion mix. What are your main promotion objectives? For example, are you building awareness for a new brand or trying to get samples into the hands of customers to demonstrate your product’s features and benefits? Given your customers, your product, your competition, and your resources, will your plan include advertising, personal selling, sales promotion, or public relations—or a combination of these four? What is your budget for promotion? Write a paragraph describing the promotion mix that makes sense for your startup’s unique situation.

8. Select relevant details from Questions 1, 6, and 7 to include in the “Financial Projections” section. Finally, summarize your target market and product idea in a sentence or two for the “Executive Summary” section.

 
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