Business Objectives Business Size
Located in a high student traffic area, The Stationery Stop has easy access to its clientele. The business itself requires very little space for establishment and occupies only about 15 ft by 12 ft of space. The Stationery Stop is such a small organization, no facilities are required to maintain daily operations, there are no machines besides the cash register and a computer. There are no bathroom facilities provided because the business is only open for 2 hours a day and its employees and workers have access to the facilities provided by Heritage College. The cost of employee wages is hardly a concern for the business because 7 operating hours a week are filled with workers who are third year students in the business administration program.
These workers do not earn a wage for they earn credits as working at The Stationery Stop is required as part of their business entrepreneurship course. The Stationery Stop acquires financial commitments including paying wages to the few paid workers that work there when the business students are in class and are not available to tend to the business operations.
This amount totals 3 hours a week, which is equivalent to $21 a week of accrued
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Estimating future sales growth of the business may not be accurate because of the limited control The Stationery Stop has over its market share. Although the business is conveniently located in the college, its clientele generally tends to be limited to those who actually attend the school. In that respect, it appears to have a relatively small market share from that perspective. However, when looking at the schools population as an entire market, The Stationery Stop has potential for having that entire market share because of its convenience aspect and the fact that it has no other competition in the school. Secondly, because the store is owned administratively as opposed to privately, profit levels are not the greatest concern of the business. Last year, The Stationery Stop generated $2473.25 in gross profits with a profit margin of .15 : 1. And previously generated $1732.70 in gross profits.
Marketing Strategy Marketing is the performance of those activities that seek to accomplish an organization’s objectives by anticipating customer’s needs and directing a flow of goods and services from producer to consumer. The entire marketing concept is geared around the idea that the consumer comes first by ways of a total company effort (not just the marketing department). The marketing concept is viewed in terms of a long?term approach that is profit oriented as opposed to sales oriented. Target Market: The Stationery Stop’s main target market is the student body of Heritage College. Other secondary target markets include the teachers at school as well as the non?teaching staff such as administrative employees, janitors, and cafeteria workers.