Creating Market Share in the Diverse Pumpkin Produce Market
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This SIP proposes a business plan for Ben's College Fund Pumpkins ("BCFP"). BCFP is a small farm that produces and sells its pumpkin crop in Chesterfield Township, Michigan. This business plan, for BCFP, is aimed at increasing revenues and local market share for the company, taking into account limited financial resources. The first section of the business plan is the literature review. This literature review focuses on three concepts: 1) economies of scale, 2) market price strategy, and 3) guerrilla marketing. These three strategies are what strong small businesses either utilize or overcome. Ways that small businesses utilize each of these concepts will be discussed in depth in the literature review. Following the literature review section is the connection section. This section connects the three concepts in the literature review specifically to Ben's College Fund Pumpkins. Potential solutions to marketing needs, pricing needs, and brand awareness are explained in this section. The heart of this SIP follows the connection section, the business plan. The situational analysis is first. Both the macro and micro environments for BCFP are examined, the largest local competitors are characterized, marketing objectives and strategies are laid out, a SWOT (strengths, weaknesses, opportunities, and threats) analysis is performed, and finally a financial analysis is performed on Ben's College Fund Pumpkins. These sections of the business plan intend to answer how profits can be increased and BCFP can gain an advantage in the local market share. This specific plan consists mainly of marketing strategies, as well as, a financial analysis to accomplish this goal.
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