Objects Bought in the Market: Where a business plan models what obtains in real world situation, it becomes an instrument on which decisions could be based. But does this really make such products distinctive? They arc put where they will be seen and brought near front doors, near check and counters, or on display shelves in front of the stores.
These areas are always good for making money. They make little effort to locate the organisations, which are likely to need their products.
These individuals can be classified on the basis of age, income, education, taste, occupation, etc. It is usual for the person who has the authority to approve your business plan for funding assistance to have a very busy schedule; also it is equally possible that business plans from other entrepreneurs are competing with your plan for funding.
Buying in industrial market is handled by trained professionals who are trained in the arts of purchasing. Durable products can also be intangible. The essential of a market are: They evaluate the level of demand for a product to determine what quantity and at what price the product can be sold, ii.
Set yourself a reminder to review your business plan regularly. Component Parts and Materials Component parts and materials are also known as fabricating materials and parts. Unlike the consumer market, which can be found anywhere, industrial market is located on a specific area.
Organisation of buying in the market iv. These are the opposites of durable products. In this instance, wide circulation becomes potentially dangerous. Durable goods can be tangible products such as television sets or motor vehicles.
Price is almost never the deciding factor in the purchase of installations. Shopping products last and are consumed over a long period of time. Kotler describe the consumer market as all individuals or households that buy or acquire goods and services for personal or family consumption.
If it were sold to a business firm it would be classified as an industrial good; if it were sold to a student it would be considered to be a consumer good. Characteristics of Industrial Market The major characteristics of the industrial market have been identified as follows: Rice farming There is never enough rice in Nigeria.
This involves determining who the customers or the decision makers for the purchase of this goods and services are for food items women usually take decisions ,while men and women may take joint decision on household property.
Second hand clothes Ibadan flea market Many Nigerians prefer to buy used clothes of good quality instead of cheap fakes. Note that there are two modes of business operation namely: So if you will manage to become a local dealer of construction materials it will surely bring you some good money.mint-body.com News ★ ⁖ 10 lucrative kinds of business in Nigeria you can invest your money and be SURE OF MAKING MILLIONS back ჻ Click Read Comment Share Check out all the trending Latest news news in Nigeria & world right now on mint-body.com 10 Kinds Of Business That Can Bring You Millions In Nigeria.
Author: Jasmine Buari.
Updated: 3. Business Plan Format in Nigeria: Templates Meaning, Importance, Needs & Types | PDF | PPT - The meaning of business plan can simply be defined as a formal statement of business goals, reasons they are attainable, and plans for reaching them.
May 14, · Different situations call for different types of business plans. An effective business plan will match its intended use.
Knowing these differences will help you plan successfully for the future of your business.4/5(41). Institutional Markets: These are organizations that seek achieve goals other than normal business goals such as profit, market share or return on investment. Members of the institutional markets include churches, hospitals, clubs, charitable organizations, political parties, private schools etc.
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