MGT601 ASSIGNMENT NO. 1 FALL 2022 || 100% RIGHT SOLUTION || SME MANAGEMENT || BY VuTech

MGT601 ASSIGNMENT NO. 1 FALL 2022

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MGT601 ASSIGNMENT NO. 1 FALL 2022 || 100% RIGHT SOLUTION || SME MANAGEMENT || BY VuTech

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Assignment

SME MANAGEMENT (MGT601) Fall 2022

Total Marks: 10

Leaning objectives:

To make students explain how entrepreneurs opt for the new venture opportunities.

Learning Outcome:

Students will comprehend how to create linkages for new venture success.

Case:

Ms Sana graduated from Pakistan institute of Fashion Designing. She has working experience of around 7 years as a fashion designer.  She has worked for two renowned brands. She left her first job because of the lack of freedom as she was not allowed to implement new ideas in designing. In her second job as well, she was facing similar issues where she was not being allowed to implement her vision and fashion sense. She came up with the idea of fusion clothing but the brand she was working for wanted to keep producing traditional clothing. She left the job to pursue her dream of applying her modern and innovative fashion acumen in her designing. She opened a boutique with whatever she has accumulated over the years of her job and borrowing from family. She did not hire a marketing manager due to the budget constraints of her startup and did marketing according to her limited knowledge. But she was facing hardships. She decided to exhibit her dresses in a famous business school and later collected marketing ideas from marketing students of that business school.

Requirement:

Considering yourself a business student, you need to give her some suggestions for marketing her boutique that could help her in promoting her business.

Note: Mention at least 5 points

Answer:

There are some suggestions that should be adopted for her business promotion. 

• She will hire a marketing manager for her business that could understand marketing trend, business sense, new marketing strategy and increase the business. 
• She will use Social Media Power to promote her business. Now a days, Social Media Promotion is very helpful and beneficial.
• She will use Facebook ads excel at advanced targeting. They allow you to target a specific audience based on location, interests, age, sex, online behavior, and many other factors.
• She will use content marketing. Content Marketing is the process of creating and distributing valuable, relevant, and consistent content to attract and retain a clearly-defined audience and drive profitable customer action.
• She can use coupon deal sites to quickly promote your business. Coupon deal sites amass massive audiences, grouped by location, and then allow local, regional or even national businesses to offer limited-time discounts to their members.
• She can promote her business on public places, Colleges, Universities etc.

 

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