New Business Plan

The New camp as we want to call it is a camping site that we plan to introduce for the first time in Bangladesh. The idea is to provide accommodation services to locals and tourists during peak seasons but in a unique way, that is our services will be based on outdoor activities. During peak seasons, especially the winter season, it is really difficult to get a place to stay in Cox’s bazaar as most hotels and motels are booked by tourists. As a result, many people are unable to spend their holidays in Cox’s Bazaar just because they could not find a place to stay. This is where we want to take the opportunity to capitalize on the situation and provide accommodation services which is going to be much cheaper and affordable for the tourists and other potential local customers. As the setup cost of the venture is Low, we can take the opportunity of cost leadership thus making our business profitable. The business: Description of venture The New camp we want to identify it is a camping site that we plan to bring in for the initiative in our country. During peak seasons, it is hard to get a place to stay in Cox’s bazaar as most hotels and motels are booked by tourists.

As a result, many people are unable to spend their holidays in Cox’s Bazaar just because they could not find a place to stay. So we want to use this opportunity to take advantage of the situation and provide accommodation services that are going to be affordable for the tourists and local customers. The setup cost of the venture is low; we can take the prospect of cost leadership as well as profit seeker. The purpose of our business is to provide outdoor accommodation. In order to do so, we need to have our own land but since it is very costly to have our own land, we decided to lease the land from the government.

Mission Statement: Customer satisfaction is our top priority and we want to make sure every customer that we will have will be satisfied with our products and services. We want to achieve this feat by providing top quality services by ensuring a healthier environment, quality food items, and spacious tents, outdoor activities within a much cheaper package.

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Market Analysis

Although marketing in the tourism sector is competitive, the lifestyle changes created by modern living continue to fuel its steady growth. So competition in this particular sector is increasing day to day from the perspective of our country. Market segments: Here for our business, we divide out market segment according to demographic segmentation that includes age, gender, income, and social class.

Competitive Analysis: “The new competition is not between what companies produce in their factories, but between what they add to their factory output in the form of packaging, services, advertising, customer advice, financing, delivery arrangements, warehousing, and other things that people value. ” An industry is the manufacturing of a good or service within a category. The New Camp is considering under the tourism industry and it will be a medium-size industry. This business is starting as a partnership or joint venture business. The main goal of this business is to provide tourism-related outdoor facilities for friends and families within local & foreign tourists. As we are stating these sorts of business for the first time in the perspective of our country in a sense the market will be a monopoly. But in other sense here there are a lot of hotels and motels providing almost the same facilities so we can call the make as well as an oligopoly. If we are going to start our business in Cox’s Bazaar for New camp there are many competitors especially the hotels.

But primarily competitors are Hotel Sea Palace, Hotel Corel reef, Hotel Holy day, and Sea Hill Guest House. Now individual analysis of each competitor is very complex because on might have one step ahead in one factor and another might have one step ahead in another on the other hand the total description of each competitor will be very lengthy. To make this analysis more fruitful we develop a table where the primary 4 competitor’s names are mentioned with some key factors. For the attraction and make it valuable to the potential customers we are going to follow two types of strategies according to Porter's Generic strategies. One is Cost leadership strategies and another is Differentiation strategies. In the following how we can implement in our business are explain briefly: Cost leadership strategies: To make our product and services competitive among the competitors we will go for the cost leadership strategies. Companies that choose a cost-leadership strategy offer relatively standardized products with features or characteristics that are acceptable to customers in other words, with a minimum level of differentiation--at the lowest competitive price. Providing exceptional services. Like all the facilities means products and services at one price. Services: Here we will divide our products and services into two portions one is a regular basis and special. So the packages we are going to offer here we will count it as a special for the peak season and all other services for a regular basis. Services: According to our business type we categorize our service into three types. Couples package: Couples package is that tent for two people with other services. This package will cost 1500 taka per day with all services.

Under this package normally we will offer food for breakfast, lunch, dinner, and other services like party places, restroom area, etc. For this package in extra, we will also provide 2 round free Jet Ski rides and free movie tickets. Family package: The family package is that tent for four to six people with related services. For this package, we decide to take 2000 taka per day. Here we will provide all the services as usual with a playground for children and 1 BBQ dinner for the whole family. But we will afford a service as a bonus that is free movie tickets for the outdoor movie theater. Friendly Package: Friendly package is that tent for six to eight people.

For the purpose of recreation and excitement, we will make available some other services related to tourism. Other services are:

• Restroom area with swimming pool
• Campfire
• Party Space
• Jet skis
• Children’s playground
• Outdoor movie theater

According to our product and services, we are going to provide to fulfill the need of local and foreign tourists in Cox’s Bazaar during the peak season because it is difficult to get the room services and other facilities. As it’s a new business in perspective of Bangladesh completely a new experience for our country people especially. Also able to accomplish all the purposes at a time they are living, recreation, low-cost facilities, and new experience in comparison to other providers. That’s how to make our product competitive and unique. During this time in Cox’s Bazaar people have to pay only the room service in this amount what we are going to provide in our products with other services. So from that point of view by maintaining a 30% profit margin in total and these products & services competitively, it is a healthy situation for us. From the viewpoint of Bangladesh all the time it is pretty much difficult to get a license from the government to lunch a business, also transportation problems and sometimes difficult to necessary materials too. So we are hoping to face these sorts of obstacles to start out a business with these products and services.

Marketing & Sales

Here we target people as our customers mainly college & university students, families & couples, foreigners and In focusing on the unique aspect of our product & service theme and customer a mix of marketing vehicles will be created to convey our presence, our image, and our message. So in the following, we are showing the mediums will be used to market our product? Print media: We will use print media as our first choice to implement the marketing of our product. Like print media, we will go to use Newspapers, Magazines, and Student publications? Broadcast media: We will broadcast local programming and interest shows as a promotional activity through television and radio advertisements? Web: We will build our own website with online booking systems; other details will include contact info, package and service info, and price details. ? Trade shows: We will campaign in different universities and colleges in Bangladesh. Through which we can make our product and services notorious to people. Miscellaneous: We will use some other intermediates for the purpose of promotion like billboards, seminars, one to one sales, and leaflets. A public relations firm has been retained to create special events and solicit print and broadcast coverage, especially at the start-up. For this purpose, our budgeted cost will be 800000 Taka per year at the start. Sales Tactics: Selling and sales results are pretty clear cut: you get what you put into your sales efforts. If your employees are unhappy, or if you do little to sell your product, you’ll likely do just that: sell little of your product. A successful product or service means nothing unless the benefit of such a service can be communicated clearly to the target market. So to make our product & service attractive we create the following promotional mix.

Advertising: Here we are using a non-personal paid form of communication some sort of mass media like Radio, Television, and billboard. Public relations: We will pay intimate stimulation of supply for a product & service by planting significant news about it or a favorable presentation of it in the media. For any particular post and job, they have to contact our administrative offices with necessary documents in the HRM department. Customer service/ supports: For better customer service we will ensure some quality management that adds value to our products and services to satisfy our customers. In the following these points are given: We will give customer satisfaction as a top priority by providing quality products & services? Continuous improvement of our products and services? Proper maintenance of playgrounds, movie theaters, dance floors, and toilets. ? Foods will be cooked with healthy oil. Securities and lifeguards will be available 24/7.

Equipment: To support the potential customers we need the following Tents, ovens, official furniture, large LCD monitor, umbrellas, Commercial Mt Rainier Structure, Spring Whale Spring Rider, Magna Surface Mount, jet skies, swimming pool related equipment, etc. Purchasing: As we have to provide all these products and services as a package for customer satisfaction so to make it available all the purchasing items we will contact or have an agreement with particular suppliers. If we are able to successfully set up this business, we believe we could bring an exciting change and make tourism in Bangladesh Cox’s Bazaar more fun and interesting. We want our potential customers to have the utmost fun and make sure they check out of The New Camp with a smile on their face. This is just the start of our new adventure and we want to add more features like a shelter booth for our customers during storms and disasters and attractions like paragliding and scuba diving. Appended Part: NOTES? Monopoly: A monopoly is a market condition in which a single seller controls the entire output of a particular good or service. A firm is a monopoly if it is the sole seller of its product and if its product has no close substitutes. Oligopoly: An oligopoly is a market condition in which a firm is doing business not with the same product and service like your business but those products & services serve the same purpose similar to your product. ? Psychological price: Psychological pricing or price ending is a marketing practice based on the theory that certain prices have a psychological impact. The retail prices are often expressed as "odd prices": a little less than a round number, e. g. 19. 99 Taka.

REFERENCE

1. Joseph T. Straub & Raymond F. Attner, 2006.
2. Introduction to Business, 2nd edition, Kent Publishing Company, Boston, Massachusetts, USA.  Philip Kotler & Kevin Lane Keller, 2006.
3. Marketing Management, 12th edition, Prentice – Hall of India Private Limited, New Delhi., William J. Stevenson, 2005.
4. Operations Management, 8th edition, McGraw Hill Companies Inc, Avenues of Americas, New York, USA. James C. Van Horne & John M Wachowicz JR, 2001.
5. Fundamentals of Financial Management, 12th edition, Prentice Hall Inc Financial times, Edinburg Gate, Harlow Essex, England., Fred R. David, 2009.

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