TheWho_M006_BusinessPlanEvaluation

TheWho_M006_BusinessPlanEvaluation - Pulses business plan...

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Unformatted text preview: Pulses business plan has various strengths and weaknesses that need to be addressed. This evaluation serves as point of reference on what the company has done well, and the areas of the business plan that can be improved. 1. Pulses market research outlines the proposed opportunity, target, and market differentiation however it is done in a confusing and vague manner. In The Company and the Concept" portion of the business plan, Pulse identifies its opportunity as expanding the market research outlet for other businesses. It unclear how Pulse will do this. In this initial paragraph, it is unclear to the reader what kind of businesses Pulse will serve. Pulse also explains that they will provide market research to companies but it is not clear how they will incorporate this through its website other than restaurant patrons leaving comments on the website. Pulse needs to determine how they will make this kind of information valuable for restaurants that already have their own ways of conducting market research to meet the needs of customers. Pulse s end users are restaurants. It is clear that Pulse wants to provide a way for restaurants to see customer needs and suggestions from Pulses website. However, it is difficult to determine the added value being provided by Pulses service. Most restaurants already have a customer feedback system in place that they use to gather information about consumer likes, dislikes, and suggestions. Pulse needs to provide proof from its market research that shows that the target market is underserved and that there is a need for their service. Pulse needs to show investors that restaurants will use their service over other greatly established like Yelp and Survey Monkey who provide a large amount of customer feedback, which is public information and more established than Pulse. Pulse insists that it is the first website to offer the service it does, however Yelp also allows individuals to make comments about any suggestions. Pulse needs to differentiate its service, perhaps by offering a data analysis part to the service. This would entail taking all the feedback on their site and creating a statistical report with qualitative/quantitative data as well as overall recommendations to the restaurants. Within the Market Research and Analysis section of the business plan, Pulse does a good job of identifying the industry it will serve. Pulse breaks down the number of restaurants in the industry to illustrate the number of potential customers (restaurants) and market share they can obtain. However, Pulse does not convince the reader that restaurants have a problem with gathering research analytics from...
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This note was uploaded on 01/02/2012 for the course EEE 457 taught by Professor Haynie,j during the Fall '08 term at Syracuse.

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TheWho_M006_BusinessPlanEvaluation - Pulses business plan...

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