Business Report

Posted: October 17th, 2013

Business Report

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Table of Contents

1.0  IPO Chart

2.0  Implementation of Spreadsheets

3.0  Business Report

3.1  Introduction

3.2  analysis for Popularity and Profitability of Cottages

3.3  Research Results

3.4  Conclusion

3.5  Recommendations

Introduction

            Blue Waters Cottages is a company that deals with cottage renting and it is owned by Shelley Shawis. The self-contained cottages are rented out at a nightly rate, which depends on the particular cottage and the number of spent in it by the client. The cottages are rented by the clients in a minimum of three days and in case the customers exceed five days, they are granted a 20 % discount for the additional days. In order to obtain customer booking, Shelley uses her phone and email address and secures a portion of the market share through local newspaper advertisements. She enjoys the loyalty of frequent customers. However, the booking records are not arranged clearly since Shelley is not a competent computer user. Referencing is tedious because the booking records and customer ID are contained in a book with a possibility of repetition. There are plans of expanding the property portfolio as per the new business partnership Shelley has delved in. her new business partner is also looking forward to buy another rental property after sufficient assessment of the popularity and productivity of each of Shelley’s cottages. As the owner of Blue Waters Cottages, Shelley commissioned a report that evaluates the company’s transaction records and ways of effective business from the information on the records. Her business partner also requested for information on Blue Waters Cottages profitability.

Analysis for Popularity and Profitability of Cottages

            According to the figures in the figures in the spreadsheet model, the most popular cottage is

Research Results

            Adequate advertising is important for rental property. Shelley only advertises her rental cottages on a local newspaper and this type o small scale advertising is not effective for higher profitability. Renters can only be attracted if the advertising is used prudently. A variety of advertising techniques increases business outcomes because potential customers become curious and aware of the business services provided by the entity.  If different methods of advertising are combined, there will be an adequate pool of renters in the business of rental property. Newspapers with large circulation within a region or a country ensure that multitude of people get the property information in the classified adverts. However, such newspapers stretch the cost of business because the classified adverts in them are expensive. Advertising can also have a narrow approach such as rental property sign posts within the local area. On the other hand, a narrow approach limits the market share. Cottage rentals can also be advertised online. With the advent of new technology, most people rely on online sources because they are constantly connected to the internet which is fast and convenient. Advertising and promotions must be aligned with the business goals for cost effective and efficient operations. Therefore, Shelley should broaden her advertising by making it broad and goal-defined.

            Marketing ideas are potential strategies suggested in a bid to increase business profitability and popularity. Other marketing ideas which other properties might offer or utilize to increase profitability were also discovered in the research. Such ideas include referral marketing, cross-marketing, a unique selling point from a competitive advantage, online marketing and relationship marketing. With referral marketing, property managers offer incentives to existing customers if they bring more customers into the business. Just as Shelley put a 20% discount for cottage renters who book for more than five days, she should also use her current customer base to pull more customers to her business. Cross-marketing involves companies selling complementary products and services. They promote each other’s product or service to increase their market share and hence, higher profitability. Shelley’s cottages have beds that are covered with linen sheets and pillows. Towels are also provided. Therefore, Blue Waters Cottages can collaborate with the companies producing the sheets, pillows and towels to widen their customer base and increase their profit margin. A unique selling point refers to a beneficial advantage to both the customer and the company. The benefits of the services and products are not notable among competitors. Online marketing fosters awareness and can boost sales if it is used concurrently with other marketing techniques. Relationship marketing is an idea that can increase profitability for properties if managers maintain the loyalty of customers through high quality services.

Table of Contents

4.0  IPO Chart

5.0  Implementation of Spreadsheets

6.0  Business Report

6.1  Introduction

6.2  analysis for Popularity and Profitability of Cottages

6.3  Research Results

6.4  Conclusion

6.5  Recommendations

Introduction

            Blue Waters Cottages is a company that deals with cottage renting and it is owned by Shelley Shawis. The self-contained cottages are rented out at a nightly rate, which depends on the particular cottage and the number of spent in it by the client. The cottages are rented by the clients in a minimum of three days and in case the customers exceed five days, they are granted a 20 % discount for the additional days. In order to obtain customer booking, Shelley uses her phone and email address and secures a portion of the market share through local newspaper advertisements. She enjoys the loyalty of frequent customers. However, the booking records are not arranged clearly since Shelley is not a competent computer user. Referencing is tedious because the booking records and customer ID are contained in a book with a possibility of repetition. There are plans of expanding the property portfolio as per the new business partnership Shelley has delved in. her new business partner is also looking forward to buy another rental property after sufficient assessment of the popularity and productivity of each of Shelley’s cottages. As the owner of Blue Waters Cottages, Shelley commissioned a report that evaluates the company’s transaction records and ways of effective business from the information on the records. Her business partner also requested for information on Blue Waters Cottages profitability.

Analysis for Popularity and Profitability of Cottages

            According to the figures in the figures in the spreadsheet model, the most popular cottage is

Research Results

            Adequate advertising is important for rental property. Shelley only advertises her rental cottages on a local newspaper and this type o small scale advertising is not effective for higher profitability. Renters can only be attracted if the advertising is used prudently. A variety of advertising techniques increases business outcomes because potential customers become curious and aware of the business services provided by the entity.  If different methods of advertising are combined, there will be an adequate pool of renters in the business of rental property. Newspapers with large circulation within a region or a country ensure that multitude of people get the property information in the classified adverts. However, such newspapers stretch the cost of business because the classified adverts in them are expensive. Advertising can also have a narrow approach such as rental property sign posts within the local area. On the other hand, a narrow approach limits the market share. Cottage rentals can also be advertised online. With the advent of new technology, most people rely on online sources because they are constantly connected to the internet which is fast and convenient. Advertising and promotions must be aligned with the business goals for cost effective and efficient operations. Therefore, Shelley should broaden her advertising by making it broad and goal-defined.

Marketing ideas are potential strategies suggested in a bid to increase business profitability and popularity. Other marketing ideas which other properties might offer or utilize to increase profitability were also discovered in the research. Such ideas include referral marketing, cross-marketing, a unique selling point from a competitive advantage, online marketing and relationship marketing. With referral marketing, property managers offer incentives to existing customers if they bring more customers into the business. Just as Shelley put a 20% discount for cottage renters who book for more than five days, she should also use her current customer base to pull more customers to her business. Cross-marketing involves companies selling complementary products and services. They promote each other’s product or service to increase their market share and hence, higher profitability. Shelley’s cottages have beds that are covered with linen sheets and pillows. Towels are also provided. Therefore, Blue Waters Cottages can collaborate with the companies producing the sheets, pillows and towels to widen their customer base and increase their profit margin. A unique selling point refers to a beneficial advantage to both the customer and the company. The benefits of the services and products are not notable among competitors. Online marketing fosters awareness and can boost sales if it is used concurrently with other marketing techniques. Relationship marketing is an idea that can increase profitability for properties if managers maintain the loyalty of customers through high quality services.

Conclusion

Recommendations