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Report On Strategic Managing Assignment

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EXECUTIVE SUMMARY

The name of our company is “HOME CLICK”. Revealing the process of rental facilities, our aim is to provide customers with the best ethical property rental support via our mobile application. No funding is required for the company at this time, as we – the owners intends to slowly grow the company using our own personal IT resources. Our company office will be located in Uttara, Dhaka, Bangladesh.

Bangladesh has one of the largest populations of the world. And its growing demand in the market has gone so far. We offer our clients to have a competition edge in the market by hiring or renting assets or properties as easy as possible.

Our mission is to create user friendly asset renting & booking process in Bangladeshi market.

Our business strategy is business to consumer (B2C) with an objective to become one roof solution for all kind of shelter property lease will provide a wide range of access of properties which is strictly prepared by IT experts for consumers. We provide varieties of leasing access for both commercial and non-commercial lessee. Property without any complication is guaranteed by us.

COMPANY OVERVIEW & BACKGROUND:

Business Type: “HOME CLICK” is a mobile app which is formed by 5 young entrepreneurs to solve the consumer obstacles for renting legal shelter assets which is marketed in whole Bangladesh.

Mission Statement: We ensures, always, that the consumers get his value for money. We will meet the needs of our customers according to what they demand. Our strength is having the best quality property as per customer issues. We provide best offers and deals when compared to other companies.

Vision Statement: Our vision is to be amongst the top ten leading Online app for house renting, property buying and selling service companies in the Bangladesh before our 2nd Anniversary.

Objectives/Goals:

  1. Our business is based on Property dealings.
  2. Ensure that standard service will be always given.
  3. Serve the people with property solutions – it is an app that is going to be retailed in IOS App store & Android play store platforms.
  4. Meet customer expectations by providing standard house at a reasonable price.
  5. Increase customer base in two years by means of strengthening brand image and providing standard quality type of shelter.

Product Description:

“HOME CLICK” makes property renting faster and easier for you. It is a Property Rental platform that helps tenant to rent a permanent/temporary commercial and non-commercial space all over Bangladesh with its unique matching & notification engine.

Refining customer’s expectation on the property by setting up personal preferences with few taps and “HOME CLICK” will search and notify perfect spaces for customers.

Following are some HOME CLICK’s key features:

  1. Matching Wizard – Matching to a right one, HOME CLICK’s super powerful matching wizard will confirm customer’s expected space.
  2. Match notification – A very loud one, sit back and relax, “HOME CLICK” will nudge consumer when there’s a matching tenant.
  3. Potential tenant list – “HOME CLICK” will have a potential tenant list right after rental listing posted.
  4. Rent meter – Checking rental rate in an area customer going to rent.
  5. Reward system – Whoever will help “HOME CLICK” via giving clients or information will be rewarded by gifts and bills.

OPERATION OBJECTIVE:

  • To optimize our customer’s satisfaction.
  • To create a variable business of online house renting, property buying and selling.
  • To accomplish consistency in the services offered.
  • To resolve any of operation problem and make all the operation process run efficiently.
  • To ensure that all of the operation process in our business is functioning well to meet the demand of our customers.

MARKETING PLAN

The goal of HOME CLICK’s organization is to give service automatically.

Azizul Islam will market the company’s service line at regional IT fairs. She will coordinate her fair participation with presentation meetings with real-estate company representatives.

In addition she will regularly send free services to her potential clients so that they can experience the quality of her services first hand. The key to her marketing through will be online & offline.

Azizul Islam will also launch the “HOME CLICK” website. The site will be designed to promote properties, list a calendar of IT fair appearances, and initially, offer a selection on most popular products for direct online service.

He will rely on the experts at 1st-at-the-Top.com Internet and E-commerce consultants for the design, hosting, and search engine placement of the website.

SWOT ANALYSIS:

The SWOT Analysis is the process we undertake once we have the results of our market research. It let us know what the potential strengths, weaknesses, opportunities and threats to our business. After completing marketing plan SWOT analysis is very much important.

SWOT stands for:

  • Strengths.
  • Weaknesses.
  • Opportunities.
  • Threats.

SWOT Analysis:

Strengths

  • Deals made by legal property owners.
  • Various properties are available like houses, commercial spaces etc.
  • Popular advertising & marketing distribution.
  • Less effort to find so there will be available large set of customers.
  • Stimulates growth & helps to keep healthy.
  • Wider customer channel of properties helps to reach to people in no time.
  • Skilled marketing team who will continuously research about any potential marketing opportunity.
  • Quality deals are represented and keep prices reasonable.
  • Maintain standards in making the deals done.

Weaknesses

  • Being a starter in terms of branding compared to other property brokers.
  • Has a price based positioning and not even considered as an option by upper class
  • Limited market shares as compared to leading property dealers.
  • Difficulty of getting bank loan for new business.
  • Currently we have only four types of business lack of more variety could hinder business performance.
  • Takes time to establish a new business.
  • Skilled workers could be difficult to find as new products are introduced.

Opportunities

  • Can grow fast in market if there is establishment of deals happen.
  • Rising demand could ensure better growth and deals variety is ensured.
  • Growing business to attract customers to make more deals and versatility of new assets in the company.
  • Can expand into new segment of markets.
  • Could cover a large area with less complications.
  • Can improve showcase of properties to attract more customers.

Threats

  • Stiff competition from various property dealers offering the same accessibility and benefits.
  • Slower market growth will be a conflict for us to make profit at the beginning count as risk for a business.
  • Improving the quality and legality the app might take time and this might result in a loss in market share.
  • Rising amount of competitors in the market.
  • Bargaining power of customers or dealers is increasing.
  • Threat of being shut down the production.

RISK MANAGEMENT PLAN

Before preparing a budget, the rational and logical applications are required, so that the budget could be utilized properly. But in the case of a loss or any kind of damage, a back-up plan is prepared and i.e., we will be able manage more capital for the business. This will be managed by the owner’s personal assets and inherited family money. Unplanned business can have a devastating effect on business of any size. Crisis such as IT system failure or poor connection to the internet might make it difficult to carry out normal everyday activities. At worst, important customers could be lost as they may neglect the app altogether and this could put our business in jeopardy. It might happen that the mobile phone markets may experience a downfall in any point of time. If that happens, it could affect our app because the app and mobile phone sort of complement each other. However, effective contingency planning allows a business to take steps to minimize the potential impact of a disaster or most likely entrance of a rival. There are many factors that could also affect a business of any size, factors such as economics, politic, finance, customer base, and trends. To become a success in the business world many obstacles will be there to stop the growth of business. With proper planning and exit strategy before entering the business world can lessen the impact of a sudden fall of market. By identifying future risk and the level of risk will be tracked, monitored and reported throughout the lifecycle of the business.

A “List of Risk” will be maintained by us and will be reported as a component of the business status reporting the process for our business.

All business risk will be analyzed for their possible impact to the business and therefore Management will be notified for future risk.

INDUSTRY ANALYSIS

Major Current and Future Market Trends Identification

Current Market trends

In today’s time people always look for activities which are less time consuming and they are eager to try out new products in order to make their work simple and effective. Our application is advanced, easily usable, and user friendly. That’s why we believe, our customers who will use our application & decide to access more which is convenient for customers.

Future Market trends

Our future plan is to expand our market all over Bangladesh and open new facilities over different cities by getting information about service’s demand and also increase our relationship with the customers by providing them with other facilities like discounts, free offers etc.

Major Competitors Identification

Since our company is new in the market, there is no really any existing competitor in Bangladesh like modern Rental services, Bhara hobe etc. We are the first to come up with variety of services in Bangladesh market. But as we know that it is an open market, anyone can enter in this market with the same idea and start their own business. Even if we have competitors in the future, we will be one step ahead in terms of quality, price, and satisfaction of services. Through our uniqueness we can receive consumer’s attention. Since our product is new in the market, our projected market share will be, for instance, 10 deals done daily and later on we expect to achieve higher market share.

Market Positioning

Our main target is to make people’s life easier and we ensure that our product will do well. As we are the new company in Bangladesh with a completely new idea and new service our position in the consumer’s mind will be slightly difficult. According to the marketing plan we will enter to the market with the position of niche marketing. Our goal is to reach to our target area within 5 years. According to our projection we will capture:

35% of the target market share within 2 years 60% of the target market share within 4 years

80% of the target market share within 5 years or more.

CONCLUSION

Factors affecting Business Environments

Our company is formed with the vision to make Bangladesh digital and encourage people to use more online services and be friendly towards the technology. Our company is aiming to bring useful and quality services at a minimum price for commercial and non-commercial purpose. To bring our services to the market we have carried out the PESTEL Analysis for our industry.

Political

Political environment includes new legislation such as minimum wage and tax rates as VAT or corporation tax. New election of government may come up with new regulations which may affect the amount of tax our business needs to pay.

Economic

As our target customers’ age range is 20-60 years that means they all are almost financially stable. Moreover, we are targeting adults who likely to have homes. Service charge is not that high so that Customers don’t have to save think to get the service. Below 15,000 takas is product’s price so that it can be easily bought.

Sociological

Social and cultural factors include trend, fashion, style, demographic factors. From time to time people’s preferences changes along with the trends, People now operate for more online services than before as having less time and easy. With the increase in social media, tracking social trends is now easier. So if any consumer deals and posts it will help us indirect marketing with a chance of large sales.

Technological

As technological environment is growing rapidly, we chose our source of marketing such as Facebook and other social networking sites. But if for any reason government bans due to certain issues it will harm our promotion. Also technological advancements in terms of machinery will help us increase efficiency in terms of production.

Environmental

Environmental factors include climate change, global warming and weather. So, we ensure our clients to get solar panel added homes for living and also for business.

Legal

Considering legal factors is a top priority for our business. Legal factors can include safety issue, renter laws, etc. Keeping all the legal laws and legislation as a priority we will function our business accordingly to avoid future disruption for our business.

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