Need marketing help: What are the answers to questions 2, 6, 7, 8 about Red Jett’s business feasibility plan

Dec 13th, 2015
Price: $35 USD

Question description

Please read the Red Jett Sweets Business Plan, Appendix B, pages 248-270 in the Katz & Green textbook and view the financial tables in chapters 13 and 14.  Please answer the following questions using the essay format and support your answers with referenced concepts covered in the text and other course materials. Total points: 100 equally weighted. Recommended length: 4-6 pages, single-spaced including references. 

1.  Identify and discuss at least three cost benefits and three value benefits in the Red Jett’s business feasibility plan. 

Value Benefits:

·  Mobility. Red Jett Sweets provides a mobile delivery service for their customers’ cupcake orders. This extra convenience gives them a value benefit, thus, giving them a competitive advantage.

·  Innovative Flavors. Red Jett Sweets offers a menu of flavors which features a rotating selection of creative seasonal recipes, special flavors of the week, and year-round essentials.This special variety of flavors gives them a value benefit.

·  Visual Branding. Red Jett Sweets uses visualized branding such as playful, memorable, and modern visual designs for its logo, cupcake decorations, packaging materials, sales vehicles, website, and printed sales materials. This makes it more attractive and appealing to consumers and gives it value benefit.

Cost Benefits:

2.  Figure 7.3 on page 198 depicts “the industry life cycle.”  Using this figure, indicate where on this continuum you would place specialty food trucks and discuss at least three reasons for your placement. Support your answer with research on the specialty food truck industry, i.e. NAICS research, trade association journals, etc.

3.  Discuss the strengths and weaknesses of Red Jett’s proposed primary and secondary target markets.  Please recommend at least one additional target market, provide reasons for your recommendation, and discuss at least one potential competitor in this additional target market. 

4.  Discuss the strengths and weaknesses of Red Jett Sweets plans to differentiate its product and services from those of its competitors.

5.  Discuss how Ms. Mayer and Ms. Gamez’s industry experiences, business skills, and personal characteristics complement one another in terms of their ability to startup and successfully operate Red Jett Sweets. Using the “Competency Self-Assessment in Skill Module 2.2 on pages 34-35, what skills or competencies are lacking in each partner and how may these be compensated for?

6.  Red Jett plans to organize its business legally as a “subchapter S corporation.”  Recommend at least one other form of legal business formation and discuss at least two reasons or advantages underlying your recommendation.

7.  Table 13.8 on page 439 presents a projected income statement for the first quarter of operations for Red Jett Sweets.  Discuss at least three strategies that Red Jett could implement to increase sales by at least 25%.

8.  Red Jett Sweets is no longer in business.  Based upon the information in the business plan and financial information presented in chapters 13 and 14, list and discuss at least three critical risk factors that may have been overlooked in their business plan and that may have contributed to its demise.

Tutor Answer

(Top Tutor) Daniel C.
School: Boston College

Studypool has helped 1,244,100 students

Review from our student for this Answer

Dec 13th, 2015
"Excellent job"
Ask your homework questions. Receive quality answers!

Type your question here (or upload an image)

1823 tutors are online

Brown University

1271 Tutors

California Institute of Technology

2131 Tutors

Carnegie Mellon University

982 Tutors

Columbia University

1256 Tutors

Dartmouth University

2113 Tutors

Emory University

2279 Tutors

Harvard University

599 Tutors

Massachusetts Institute of Technology

2319 Tutors

New York University

1645 Tutors

Notre Dam University

1911 Tutors

Oklahoma University

2122 Tutors

Pennsylvania State University

932 Tutors

Princeton University

1211 Tutors

Stanford University

983 Tutors

University of California

1282 Tutors

Oxford University

123 Tutors

Yale University

2325 Tutors