Answer to Question #250642 in Management for preet

Question

Pick a product.

2. Select target group/location for your business

- Give justification for choosing this (who/what/when/why)

-

3. What will be your revenue model? (Sales based/ subscription based/ fee based etc. )

4. Source and the process of setting the business website ( Real time information, provide the link

and source for reference)

a. Source from where you will obtain your business domain

b. Process of having a domain for your business website

c. Fee structure

Answer 1

1.     Pick a product.

A specialized road bike

2.      Select target group/location for your business

The product would be a specialized road bike, the target group would be cyclists as for sports purpose, deliverers, teenagers and more people who have hobbies of cycling.subsequantly Make and effort to reach out to passionate individuals. Whenever customers become enthusiastic about a certain trade or activity, individuals are much more likely to spend money to go and get exactly what they want. While considering the prospective possibilities of every goods, or range of products, having customers are willing to pay might be an essential factor

3.     What will be your revenue model?

Sales based/transaction revenue model.it is a traditional technique for a company to make money. Directly selling a product or a services to a consumer generates income. A consumer might be a business to business (B2B) or a customer (B2C). The manufacturing costs and margin are reflected in the pricing of the product or service. By increasing the margin, the company can generate more revenue from sales.

4.     Source and the process of setting the business website.

a.     Source from where you will obtain your business domain

https://www.webhostingpad.com/aff-thetop10sites/?sscid=a1k5_dhmoq

b.     Process of having a domain for your business website

The first step is registering a domain name, even before you review best web hosting services list, you must make an important decision after you've decided to construct a website. Purchasing a name is straightforward, but obtaining one that's not already taken might be difficult. You should also double-check that the agreement for both you and the domain name registrar is clear. 

c. Fee structure

$1.99 $1.59 / month

Regularly $4.49/mo