How would you assess the strength and weaknesses of the Pet Elan business concept in terms of solving a problem, filling a market gap, or responding to environmental trends? Explain

This final examination contains the following three parts: 1) A Feasibility Study, Pet Elan: in your textbook pages 105-118; 2) your analysis of the Feasibility Study; and, 3) your recommendation, whether or not to proceed with completing a full business plan.

1.       Please read the feasibility study for Pet Elan in Katz & Green on pages 105-118.

2.      Your analysis.  Please answer the following questions citing course and text materials as appropriate.  Please include the letter for each of your answers, e.g. a) Strengths and Weaknesses, b) cost and value benefits, etc.

a.       How would you assess the strength and weaknesses of the Pet Elan business concept in terms of solving a problem, filling a market gap, or responding to environmental trends?   Explain your choice(s).

b.      Describe and discuss the cost and value benefits of Pet Elan’s products and services to its customers.

c.       Based upon the information provided, where is the pet food, care, and supplies in terms of the industry life cycle, as described on page 198 in Katz& Green?  Defend and support your answer with specific examples and concepts from our text and course materials.

d.      Pet Elan plans to reach out to the traditional market of customers but also has identified newer niche markets such as seniors, young unmarried persons, middle aged couples who are married but have no children.  What is your assessment of this market penetration strategy?  What are its strengths or weaknesses? What other niche markets would you recommend and why?

e.       What is your assessment of Randy Miller’s ability to startup and operate Pet Elan? Randy estimates that he needs $70,000 in start-up capital.  Is this amount sufficient?  Why or why not?

f.       Assess the strengths and weaknesses of Pet Elan’s pricing strategies?

g.      What is your overall assessment of Pet Elan’s projected three year net profit goals?  Are they pessimistic, optimistic or realistic? Support your answer with specific examples.

3.      Would you recommend that Randy Miller proceed to developing a full business plan? Why or why not.  Support your recommendations with specific examples.

Get Professional Help with Your Research Essay Paper Today From Our Student Essay Service!!