Business Plan: Multi-Choice Centre
Background of the Company
The Multi-choice Centre is a newly established business that is interested in selling high quality products to its customers both at local levels and at international level. The business intends to be a Multinational Corporation that will be running multiple stores in Senegal and other parts of the world. With it able and experienced leaders, the business has a strategic plan that will enable it develop into a successful business in African and by extension at the international market. The business will also be a family-owned company managed by experienced professionals from various parts of the world. In consideration to the multi-cultural nature in Senegal, the business also intends to introduce products that will attract customers from all cultural and racial backgrounds. The business will deal with a variety of household products such as food products, household goods, clothing, furniture, and beverages to fit in the modern economy. The business also intends to abide by the set local and international rules and regulations to minimise engaging in continuous conflict with the government and other administrative authorities. The Multi-choice Centre business plan will therefore be of critical importance in not only improving the organisation profitability, but also in advancing its market position both at international level and the local level.
The business intends to be one of the most productive businesses in Senegal and other African countries. With its effective and able leaders, the Multi-choice Centre has a vision of transforming the African continent economy by offering quality products and services to its customers with limited consideration of their cultural and ethical background. Within the shortest time possible, the business intends to incorporate the ideas and opinions of all players in its management plan by engaging in intensive interaction and consultation.
Marketing Strategy
In consideration to the social and cultural diversity in Senegal, the business will introduce a strategy that will meet the interest of all its customers irrespective of their social and economic background. Intensive research and evaluation will therefore play a vital role in the development of a reliable and an effective marketing policy. To improve the number of its customers, the business will improve the quality of its services. The company’s products will also be of high quality and in large quantity. The business products will be sold at a relatively low cost that will meet the interests of the business and its customers to compete successfully. With an aim of increasing its effectiveness and efficiency, the business has a plan of opening stores at different parts of the country. The company intends to have branches at different parts of the country’s big cities and towns (Eric, Brian, & Jay, 2003).
Sales Strategy
The introduction of numerous branches will be a critical plan in increasing its sales at different parts of the country. The increase in the company’s sales will also be improved by understanding the business objective of the existing government. The Senegal government has come up with strategies aims at boosting business activities in the country. The aim of coming up with the strategy is to attract both international and local investors in the country. Therefore, in order to increase its sales and profit, Multi-choice Centre will create good links with government institutions to attain maximum benefit from the government initiative (Pinson, 2004).
Promotion Strategy
Promotion will be a key factor in facilitating the success of Multi-choice Centre at both the local level and international level (Paul and Lori 2007). Therefore, to succeed in Senegal economic, Multi-choice Centre will come up with a promotion plan that will meet the interest of all its customers with limited consideration of their social and cultural background. The business wills also hire a representative from all ethnic groups in the country in order to ensure that all community understand the products sold in the business. To minimise conflict with the sitting government, the business will also ensure that it abide to the rules and regulations that are set by the government (Kueniza, 2011). The business will also use the available government agencies in its promotion and advertisement initiative. The understanding of the political environment through engaging in intensive research and evaluation will also play a critical role in boosting the business in the country. Mass media will also be useful tools that Multi-choice Centre will use to popularise itself at all levels. The business will also use posters and public campaigns to popularise its business at all levels.
Financial Strategy
The business will rely on its initial capital in all its activities. The business cash flow will be moderated to enhance its sales thus increasing profits. The business marketing cost will also remain to be less than 15% of its annual sales. The business will also invest its residual profits into financial market and not in its internal development and expansion in order to expand its business operations. Moreover, to achieve maximum benefit from its investment, the business will also focuses on productive and well through of promotion and advertisement activities.
References
Eric S., Brian R. & Jay M. (2003). The Ernst & Young Business Plan Guide, New York, NY: John Wiley and Sons
Kueniza, M, (2011). Education and Democracy in Senegal, New York, NY: Palgrave Macmillan
Paul I , and Lori Q. (2007).Trouble in Store: Probes, Protests, and Store Openings by Wal‐Mart, 1998–2007, American Journal of Sociology, 116,( 1), 53–92
Pinson, L. (2004). Anatomy of a Business Plan: A Step-by-Step Guide to Building a Business and Securing Your Company’s Future (6th Edition) Chicago: Dearborn Trade
