For this week’s discussion, please respond to the following:
- How would your NAB business work in term of operations (production, inventory control, distribution, customer service, research and development, etc.)?
- You will have to include all the equipment, technology and personnel listed in your NAB Company Portfolio from your business plan. The information is located under Note #2 in the portfolio.
- You must use the information from the NAB Portfolio first and then you can add to it.
- Check out Chapter 11: Operations to learn more. You will use this week’s information in Assignment 3.
To help you get started with Week 5 Discussion
Describe the day-to-day functions of your company (include the appropriate information from the NAB portfolio-notes # 1 and 2). Use numbers (cost) from the portfolio and your business plan as applicable.
How will you run your business? Consider the following areas:
- Production process: how will you produce the product
- Inventory control- how much inventory you will have
- Distribution- how will you distribute the product
- Customer service- how will you handle customers and returns
- Research and Development- how will you improve the product and how will you continue to search for new combinations/ flavors
- Chapter 11- Operations- for information, worksheets, and a sample plan
- Video overview of how to approach this discussion below:
Goal: Submit by Wednesday.
Wk 4 feedback
Great post! I really like your idea of using YouTube sponsorships in your online marketing efforts. You also make an excellent point about the bottle’s visibility. Even if the user ignores the commercial’s message, they will still receive a visual impact that will help them recognize the bottle when they are, for example, at a store or an event where it is available. Do you happen to know how the expense fluctuates or if there are any best practices for maximizing penetration while minimizing cost? I know we have limited marketing budgets but I might follow your lead in this area if it works into my budget.
Thanks so much,
On average, businesses pay an average YouTube advertising cost of $0.10 to $0.30 per view or action, with an average $10 daily budget. That means every time someone views your ad or engages with your ad, like by clicking on a call-to-action, you pay around $0.10 to $0.30. With that said, you can open up your advertisement action (ie rolling advertisement or ad pop-up) to action everyday, every hour, or every minute or you can set a limiter to fit your budget. I think our given budget is only about $5,000. So looking for an efficient cheap marketing vehicle is key and I think YouTube fits the bill for my target market of millennials and Generation Z’ers.
RE: Week 4 DiscussionCOLLAPSE
Thank you for posting early! Good plan! As you approach your promotional strategy, you will always consider all the information you researched about the target market, where they shop, live and ” play”. You must be where your target market is, otherwise, you should not spend money to advertise there.
Keep up the good work.
Thanks for the valuable feedback.My Marketing strategy is target HS Football games, Activities are the University of Texas at Arlington (UTA), UT Dallas, University of North Texas , parks, youth events, etc. I am staying in within my 100 mile radius to allow the face to face marketing aspect of my budget to effectively market my product.