Being a “just starting” business, Filitalia’s plans are still just in the basic level to procure its desired goals. And that is to, surely though slowly, let our main target market know our name and maintain the business by regaining the capital and repeat operation in a cycle of complete succession.
The product makes little or no money at this stage. And, being “new”, the company would need to make a good job of introducing the product to the customers. They might also be reluctant to try it out so presentations and samples must be accomplished in order to build its demand. Also, the production costs are still high owing to the still weak connections with suppliers. These are the inclusions of the introductory stage of the product.
The short term plans of the company are as follows:
* To get back the capital to sustain the business
* To get the target market’s attention with the introduction of our unique product * To start the foundation of our company’s reputation, making a name among our target market and competitors * To promote the product to prompt customers to buy and increase its demand * To establish good relationship with suppliers
Having made a name for ourselves, it is time to be a bit more daring in our ways. This is the part where we come out a little from our comfort zone geographically speaking.
This growth stage constitutes of the increased competitors in our product line, which would naturally result in decreasing the price of the product. At this point, there is already a certain demand for the product. More people know of it, sales increased and the production costs are lower than before. But just because the product safely passed through the introductory phase to the growth phase, it doesn’t mean that the company should slack. There are more competitors than before. Now, more than ever, promoting the product becomes important. Also, the company should compete in...