BUSINESS CONCEPT TEMPLATE

BUSINESS CONCEPT TEMPLATE

MY BUSINESS CONCEPT

This write up contains the bridge between my business idea and the main business plan. It highlights the overall view of my business, starting from the PRODUCT, TARGET AUDIENCE, MARKETING AND MARKET PENETRATION, PLACE AND DISTRIBUTION CHANNEL, and VALUE CREATION AND SUSTAINABILITY. There are two sides to a coin, so this business aims to serve and take the society to a new level and the other side is wealth and value creation, and also a leading business dynasty. Since it is said that being employed will make you a living but self employment (entrepreneurship) makes you a fortune.

PRODUCTS

My business is transportation business, which will be called “AMMY TRAVELS”. It will be a form of road transport network in Nigeria and other African countries. Top and most current technologies will be will be of use and new ways of service. It will serve all 36 states of Nigeria. It is a business that will be known for flexibility, living up to promise, technological diversification, and carrying customer opinions along in decision making. It will be transportation for the purpose of freedom, comfort, and ease of travel. Professionals will be employed, training will be offered to locals as a source of employment to the nation.

The business worries about nothing but comfort, ease of travel, and customer satisfaction pre and post travel.

TARGET AUDIENCE

Target audience will be local and international travelers on the African continent but starting locally in Nigeria. Social class will not matter as it will serve the lower, middle, and upper class.

MARKETING AND MARKET PENETRATION

It is not a must to introduce a big technology or big money at the beginning of the business but to win small circle of customers at first and having a loyal customer base. This business will start locally from my home town and with my family and friends. It will be easy to access feedback from people close to me before running into a big crowd where some might not give proper feedback.

The main penetration will be reliability, time consciousness, and trust.

PLACE & DISTRIBUTION CHANNEL

The business will have a head office in Ogun state and other branches in other states. There will be different parks for the motors in an accessible place like beside a market. There can be bookings ahead of travel.

VALUE CREATION AND SUSTAINABILITY

Value will be in terms of both customer and the business itself, since it is no business without value creation. The main source of value creation for this business will be INNOVATION. Since trust, loyalty, and reliability is the foundation, then the survival will be INNOVATION.

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