Canine Candy
This business venture provides all the vital and necessary information needed for the business Canine Candie. This venture will include a business background, business strategy, team management structure, swot analysis, market analysis, financial plan, reflection on the success of the venture.
The business background explains the how the idea was generated and description of the brand, how the idea was brought up and what the names of the business would be. Business strategy talks about all the crucial concepts regarding the four p’s of marketing. Information regarding product, price, place and promotion in full context are explained along with pricing strategy. Channel of distribution is explained in the product placement, explaining what …show more content…
This would because the idea of selling handmade dog biscuits have already been used by a variety of people, especially animal lovers. According to the article by Lucy Easton, she mentions at the start of her article the treats made for dogs at home are becoming more popular and known by people nowadays(Easton, 2017). From this it can understood that the product being used for the business venture is already in the market, a lot of people who own dogs know about this and the idea is spreading quite fast. It would come under the growth phase because it’s something that is trending and new yet known by some people. At this this stage consumer’s demand for more goods increases therefore, it will result in a positive outcome, meaning sales would increase and profit margins will …show more content…
This means customers that have pet dogs may find our product useful and meaningful, something that they can give to their pets and feel good about it. The idea of Canine candy is unique and different from other sellers in the market. The product being used for market day is dog food and not a lot of sellers would be offering a product like this. An advantage that can be seen through this is people with dogs and who loves animals may prefer buying Canine Candy.
It is handmade product and is free from all the chemicals which may affect the dogs in a negative way, focusing on quality. As Canine Candy is relatively small at this stage, orders and reachability to this business are very high.
Reflection of venture success
According to the sales made for the Canine Candy, a profit of $75.00 has been made. This is a positive outcome as the payback of the seed funding money from Aut Mars department would be successfully done. The sales were made from customers purchasing the product though the help of other channels as well, which helped to reach the total of $75.00. The estimated profit/loss for this business venture was $58.00 and the actual profit/loss is $75.00. This is a positive outcome as actual profit/loss is higher than the estimated
The business background explains the how the idea was generated and description of the brand, how the idea was brought up and what the names of the business would be. Business strategy talks about all the crucial concepts regarding the four p’s of marketing. Information regarding product, price, place and promotion in full context are explained along with pricing strategy. Channel of distribution is explained in the product placement, explaining what …show more content…
This would because the idea of selling handmade dog biscuits have already been used by a variety of people, especially animal lovers. According to the article by Lucy Easton, she mentions at the start of her article the treats made for dogs at home are becoming more popular and known by people nowadays(Easton, 2017). From this it can understood that the product being used for the business venture is already in the market, a lot of people who own dogs know about this and the idea is spreading quite fast. It would come under the growth phase because it’s something that is trending and new yet known by some people. At this this stage consumer’s demand for more goods increases therefore, it will result in a positive outcome, meaning sales would increase and profit margins will …show more content…
This means customers that have pet dogs may find our product useful and meaningful, something that they can give to their pets and feel good about it. The idea of Canine candy is unique and different from other sellers in the market. The product being used for market day is dog food and not a lot of sellers would be offering a product like this. An advantage that can be seen through this is people with dogs and who loves animals may prefer buying Canine Candy.
It is handmade product and is free from all the chemicals which may affect the dogs in a negative way, focusing on quality. As Canine Candy is relatively small at this stage, orders and reachability to this business are very high.
Reflection of venture success
According to the sales made for the Canine Candy, a profit of $75.00 has been made. This is a positive outcome as the payback of the seed funding money from Aut Mars department would be successfully done. The sales were made from customers purchasing the product though the help of other channels as well, which helped to reach the total of $75.00. The estimated profit/loss for this business venture was $58.00 and the actual profit/loss is $75.00. This is a positive outcome as actual profit/loss is higher than the estimated