Present a business plan to exploit the business opportunity you identified in Assignment 1 in a sustainable way. Address any feedback you received on Assignment 1.
Ensure you address funding, legal and governance arrangements, relevant cultural and leadership aspects, in addition to marketing, technical and sustainability considerations.
Consider the risks that might prevent you succeeding and how you might mitigate those risks.
The ability of a new product to make sales in an industry depends on the level of competition in that industry. If other players are already in the business, then it can be a bit challenging for the business, though with a proper strategy, it can get a breakthrough in the market (Löfsten 2016). The suggested mobile app appears to be a new idea that is meant to feel the existing gap between service providers and those seeking for quick access for such services (Wege & Nguyen 2017). I, therefore, expect that after its introduction in the market, the mobile app captures a vast market that is expected to increase gradually over the first five years. In the first year in business, the sales in the market might not be proportional to the potential market due to the ignorance of potential customers. However, with intense marketing campaigns to inform potential customers about the product, there is a great likelihood that the sales of the product will continue to increase gradually. I intend to use digital marketing as a tool to ensure that the potential that the product promises is fully reached. Through the various platforms that social media platforms provide, such as Facebook, LinkedIn, Twitter, among others, then a large platform that can be used to reach unto potential clients can be created (Chaffey & Ellis-Chadwick 2019). If such platforms are utilized properly with running sponsored ads that sensitize the potential customers about the benefits that the mobile app will offer to them, then the sales of the product can increase gradually.
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