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Business Plan

Unlike watching TV, people don’t just consume content on social networks; they actively share it. As television becomes more digital – in the form of sharable video clips or articles on a show’s premier, for example – social media will continue to play an increasingly important role on how consumers discover and engage with all forms of content, including and most importantly, TV. I’ve looked into some very interesting and relevant studies that explain a lot of what’s going on with advertising today. The first thing to consider is this: Currently in the U. S. 290 million people own at least one TV, and 232 million own a mobile phone.

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Initially, it took 38 years for TV to reach an audience of 50 million viewers, while the Internet only took four. Given that 43 percent of these mobile devices are smart phones, and that mobile data usage has increased 253 percent this past year, the amount of time spent interacting with content on your smart phone will quickly overwhelm the importance of television ads. Today, TV spots are increasingly being used not as a company’s main advertising effort but as a support for or supplement of a multimedia campaign, where the main focus is distributing content across social networks.

Here’s an example: JC Penny and its new CEO are being bold with new pricing and sales strategies. Penny’s advertising people designed a new, well-rounded campaign. But when it came to their TV spot, the retail giant used their 30 seconds to intrigue people into liking their Facebook page, because that’s where the real engagement and interaction with consumers takes place. Basically, their TV spot (one that cost a fortune for placement in Primetime) was there just to support their main effort: social media.

The beauty of social media is that it is free and effective. After all, social media buzz doesn’t only increase ratings; rather, it drives in-store foot-traffic like no other. So, in designing a successful marketing campaign for the k/x camera, it helps to know both the market and how social media can reach countless additional prospects. Factoring in the statistics cited above, I currently am proposing we take a page out of the Apple/JC Penny playbook to develop a marketing plan that involves integrated television and online ads.

Social media sites such as Facebook, Myspace, Photobucket, and Flickr, linked to other media, will likely be my most winning formula. In our television commercials we will encourage on-the-spot interaction with these sites and our products. Enticing people with stills, teasers and detailed, behind-the-scenes glimpses of our product, we will seed our social media grounds. Tending Topics, Likes, YouTube Views, and so forth will be our new forum for bringing back old customers and creating new ones.

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Business Plan

Week 4
Business Proposal
S. Robinson
ECO/561
January 26, 2015
Mr. Ali Boloorian In creating a business, you have many decisions to make and one of the most important decisions you will make will be, is there a need for your new product or service from the consumers perspective and not your own. Keeping the information at the top of your priority list, this will help you to better prepare for your new business.
I have chosen to do my business plan with providing a service verses a tangle product. Angels Home Health Agency will be providing a service verses a product. Since products are tangible and services are intangible; it will be more of a challenge to market my business, however, nonetheless, it can be done.
It is extremely important when deciding to have a business to do your research. A part of your research should include asking yourself, is this service or product needed? To help with your research there are basic economic principles to consider. Identifying what type of business is you would like to create is a start. A market is a set of buyers and sellers, commonly referred to as agents, who through their interaction, both real and potential, determine the price of good or a set of goods. The concept of a market structure is therefore understood as those characteristics of a market that influence the behavior and results of the firms working in that market, according to Policonomics (2012) There are several different types of market structures. In selecting Angels Home Health Agency, the market structure for this type of business would be defined as monopolistic competition. Monopolistic competition is defined as the market that is formed by a high number of firms that produce a similar good that can be seen as unique due to differentiation that will allow prices to be held up higher than marginal costs.  In other words, each producer will be considered as a monopoly thanks to differentiation, but the whole…

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