Marketing Report on a Designed Business Plan
A concierge service can help the prospective customers in securing various kinds of services such as tickets, rentals and other services that they need. This business will be based in Toronto, Canda and will also be available in Ontario. The Business Goals would be: 1) Provide low-cost yet efficient concierge services to Canadian consumers; 2) Capture a significant portion of the Canadian market for concierge services; 3) Expand business operations to Ontario within a year.
There are several social trends that will impact customers and competitors. For one, the growth of tourism and the increasing promotion of various countries of tourism will affect the Canadian market. Moreover, trends in migration and the way that Canada attracts migrant workers will also affect the concierge service as they will need to book fares, rent cars and other amenities so as to deal with the rigors of their careers.
Recently, the world was shocked by the financial crisis in the United States. This poses a very important challenge to the industry in Canada as people will be more wary with how they spend their money. If this trend continues, people will continue to be wary of too much spending and they will let go of some of the services that they used to enjoy, especially if they view these as luxuries. On the other hand, the continuous robustness of the Canadian economy will ensure that workers get paid well. This way, they can also enjoy the services being offered by the concierge service.
Technological innovations are so fast that it is quite difficult for business to follow. Yet, if the company can utilize the emerging mobile communications, it would be a great addition to the internet operations and will help customers get the best service that they are entitled to. This may involve considerable costs but if a wider segment of the population will be tapped, then this strategy will prove to be worth the investment. The use of mobile technologies can actually become one of the competitive advantages of the company.
Competition is a fact of life. As such, the company will benefit from a market research that includes the strengths and the weaknesses of the competition. Currently, most concierge service companies keep their offices and online facilities. They also use television, print, radio and internet ads to promote their services. The concierge company can differentiate its services by providing the most reasonable and cheap options while providing various promos geared towards attracting customers from time to time. If the company can position itself in the market, then its share will soar and it will become highly competitive in the field.
Regulations in the government are part of the business environment. Generally, Canadian market is liberalized and is not highly regulated by the government. Yet, with the economic and the political situation, taxes, tariffs and even public safety will be the primary concern of the government. Hence, the company should be able to heed the regulations of the government while maintaining its level of excellence in the market.