Business ownership Term Paper Example | Topics and Well Written Essays - 1000 words

Business ownership - Term Paper Example It is always the dream of any person to own such multinational companies and successful businesses but what hinders everything is how to start, choose, plan and manage. This has always been a big challenge considering any business whether successful or still in the growing stage. Different people would have different views and plans on which business to start due the varying levels of understanding and desires. Such decisions are also affected by the availability of resources such as land, capital, labor and experience. Speaking from my point of view about the type of business that I would like to start someday given enough resources, this is what I would have in mind; starting my own business, sole proprietorship, and to be specific a computer components and accessories merchandise. I have a great passion in computer accessories and given that the business has a ready market, I consider it the best option to take. I would choose to be a sole proprietor where I would assume complete responsibility to anything that happens and also the liabilities and debts. In opening such a business, there are various factors that must be taken into account and this are explained below. For the marketing concept I would choose to do this critically by actually considering all the factors that my business would be dealing with. First of all and most important of all is to create and distribute well-designed and good business cards and posters throughout my locality with brief descriptions of what the business offers and the benefits that one gets by considering to purchase from the business. in doing the marketing, the main target market will be the youth aged between 15 to 35 given that this is the age group that has been seen to make higher purchases especially as it regards computer accessories. My marketing strategies through posters will mainly target to reach this group by ensuring to reach schools, colleges and other youth assembling places such as gymnasiums (Harper 22) . Since my company would be dealing with computer technology which is characterized by time to time updates and innovation, attending of trade shows would also form the basis of my marketing concept. This would allow me to promote my products and services and will also facilitate collection of information from other companies playing a part in the same market. Attending these shows would also offer resources for locating diverse venues around the country where I could get potential customers and more ideas for developing the business. Other important marketing concepts would also include networking at my local chamber of commerce and building strong relationship with local media outlets. Ensuring that people and your clients find my business over the web and internet in general would form the last and most important of all factors of marketing of my product and company. I will ensure to create a company profile of my new business in both facebook and twitter as this is the place to reach the target age group easily (Paulson 31). For the type of distribution, I would design and use selective distribution where I would actually rely on few intermediaries that would actually carry and transport the computer appliances from the other retail shops. This distribution would also be dependent on the regions where this product would actually have more sales. An analysis will be done across major cities and towns to find retail shops