Introduction
This report documents the support we offered Peter Baxter of Hind system in improving the organisation’s processes in order to improve sales hence gaining higher profit and turnover compared to their last year’s trading.
Hind system is a home-based business that produce and supplies IT solutions. It provides innovative, top of line technology solutions for executive administrations and has been running successfully for over a year. It also provides creative robust project management for modern, mobile and independent entrepreneurial consultants across nation enabling them to exact a professional delivery that challenges the most corporate competition. With our expertise, we will help Peter Baxter achieve his target of stipulating monthly sales and gain a profit of £3000 and ideally a turnover of £1000 every month.
Price
As pricing is the key strategy to attracting customers, we will do a demand-based pricing as a trial. Market report research shows that the solo business are willing to pay for the services we offer at a price of £490-£530. Our competitor’s price their products at £519. Therefore, we will charge our product at the price that the customers are willing to pay which will be lower than the competitor’s but at the same altering sales and achieving our goal.
As stated in our business plan, we will price the products at £500 which is affordable as advised through the research. We chose the price because we set different prices and evaluated the total contribution with every prices depending on the units that will be ordered pertaining to the prices. Therefore, we decided to price the product at £500 because it generated a total contribution of over