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Ms. Dal Mi and Mr. Pyeong both failed to properly plan their businesses which led to losses, with Ms. Dal Mi not properly assessing her location's potential and Mr. Pyeong not understanding the market or getting feedback on his product. Both summaries stress the importance of planning the business by researching the location and market for potential customers in order to avoid failure and losses.

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Rosemarie Dela Cruz Salvador
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691 views1 page

Untitled

Ms. Dal Mi and Mr. Pyeong both failed to properly plan their businesses which led to losses, with Ms. Dal Mi not properly assessing her location's potential and Mr. Pyeong not understanding the market or getting feedback on his product. Both summaries stress the importance of planning the business by researching the location and market for potential customers in order to avoid failure and losses.

Uploaded by

Rosemarie Dela Cruz Salvador
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Rocha Kristine Lyka I.

BSHM-3B

07 Seatwork 1 - ARG

Essay: (2 items x 10 points). Read and analyze the following scenarios. Assess and in another Word
document (short bond paper), explain in no more than three (3) sentences the relevance of following a
business plan accordingly that somehow could lessen the failure/s reflected in these situations.

Question 1

Ms. Dal Mi opened her new salon and spa nearby a coffee shop next to her condominium building. She
sees that many people are visiting the coffee shop. Without assessing the location and how she will
market her salon and spa, she was forced to close it without gaining back the capital she used for
operating it for a month.

 To avoid this kind of mistake Ms. Dal Mi should first pick a location that is perfect in building a
spa, because if she build it in a area that doesnt have a potential customer, the shop wouldnt be
successful and it will totally fail. So its ideal for her to choose a location to build the business

Question 2

Mr. Pyeong created his product without understanding the market or the users. He started doing his
business by just establishing and producing it the way he thought it should be. At first, it was patronized
because it is new to the market. Many people bought it upon production. Imagine a milk tea in a can.
Aside from the idea that he believes that the environment matters, he claimed that it is handy compared
with the usual one. Without projecting the possible changes in the market and consumer’s preference
after two (2) months, the profit he gained from its opening doubled as losses.

 As a business owner Mr. Pyeong should know that not all products and services is done with just
one go, its like you wanted it then serve to the customers without thinking if that product is
good, attractable, has a health benefits or is it pricey and so on. Mr Pyeong should have made a
survey if potential customers like the product he will produce or not, because in that he can
develop or improve the item for them.

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