This is my assignment for LUBS2410 Small Business Internationalisation and Growth, for my second year at university, this was an optional module for me. This document comes with a business idea and a business plan as well as the steps you need to take to internationalize the business plan. The busi...
Small business internationalization and growth
1. Positioning of the business opportunity
DEFINE
WHO/WHAT/HOW
, Identify the strategic innovation
Value chain analysis
The product includes advanced security settings and convenience.
The app will allow you to store multiple keys as well as share these.
The locks will be easy to install. Referring to the growth share matrix
model we are going to start off with residential target market, this
will function as a cash cow as the business gains customer loyalty and
profit, allowing for future expansion.
The value chain will change as the company grows, starting with
Atlassian’s Value Chain, this focuses on the product, in this case
products would be the app and lock. Then conducting research and
development of the product, making sure the product is secure and
functional, and update the app regularly. Because of this specific
value chain all marketing used will be free, thus maximising profits
and retaining customer loyalty. Next is sales, first we supply the raw
materials of the product in the UK, increasing control over suppliers
and manufacturing so the process is ethical thus building a good
reputation. Next R&D, this includes updating the app so it runs
smoothly, adding new features, and seeing what app structure
people react best to.
The free marketing used will be such as, word of mouth marketing
and basic social media profiles. All our sales will happen through the
app or website, making it more convenient. This would facilitate
global expansion. The service offered would include lock installation
and a tutorial so customer can install locks themselves. We’ll have an
FAQ and messaging section on our main website and app with 24/7
live service and an emergency, if within warranty all service and
repair charges would be included within purchasing. Once sufficient
profit has been retained, we will try to expand to corporate customer
and start selling to businesses like university accommodations and
office spaces.
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