Entrepreneurial and Small Business Management Assignment

Entrepreneurial and Small Business Management - Assignment Example This study will also highlight on the business planning process as well as the various risks attached to it. The feasibility study In this study, interviews were seen to be so important in the process. They present various opinions regarding the market as well as people’s attitudes towards utilization of advertisements on the social media. Interview in hotels The interview began with hotels, which we thought were our greatest targets. We interviewed thirty hotels across the region and we were keen to observe their advertisement techniques. One manager Mr. Rahul from the Auris plaza hotel informed us that they have often depended on the internet to perform their advertisement and marketing. He welcomed the idea and informed to get back after one week to allow for sufficient consultation. Another thing that Mr. Rahul informed us about was that the number of customers they received was not sufficient and they needed more improved means of attracting customers to their hotel. Othe r hotels that we visited for interviews like the Golden sands hotel apartments, the Grosvenor house and Ramada Reira among others all welcomed the idea of magazine advertisements and they expressed their willingness to adopt the idea. Most of these hotels complained of poor attendance my the locals and claimed that most of their customers came from abroad, the locals need to be aware of the services available in this hotels so as to offer them equal chances and remove the perception of these hotels being so expensive. Also on our survey and interview list were large businesses and companies. These included local supermarkets and other manufacturing concerns. Most of them welcomed the idea and accepted to invest in this marketing plan. Most companies according to our interviews did not utilize the advertisement tool effectively since they majored on exporting to already established markets. However, some companies expressed their dissatisfaction, for instance the horticultural compan ies expressed their great worries over the seasonal markets that existed in the industry. They said that the time they export most is when demand for their products arises, and this is mostly during functions like valentines and Ramadan and Chrismas celebrations when people buy and present one another with gifts. The idea of publishing their products on a local newspaper and advertising them to citizens locally was a good idea and could largely boost their market. Of all the companies, we interviewed, only three were adamant about using our advertisement means, and this was majorly due to security reasons that they could not expose so much of their company profile. The others accepted. One thing however, that most of these companies wanted was advertising for them at low cost and then later on increasing the rates when the project is picking at a high pace. The last group that we visited was the single businesspersons. Most of these were not ready to adopt the magazine advertisement system since they saw it as an extra expense on their side. Of the 20 businesses that we visited, only 8 welcomed the idea of using magazine to advertise their products. From the feasibility tests performed in the hotels, industries and the businesses, hotels are observed to be readily available to adopt this strategy despite a few others still not courageous enough to take the step. Companies too also