The Pros and Cons of Social Networking Essay - 1792 Words

Social Networking sites are the quickly becoming the most popular kind of web sites on the web. The most popular of these websites, Myspace, Facebook and now Twitter, are on their way to the top of the charts for most visited sites on the Internet. Details from by Alexa.com, a company which publishes reports on web traffic, collected around May 2008 by Carter, author for  ¬Ã‚ ¬Phi Delta Kappan, reveals that Myspace.com is the sixth most popular website. (cited in Carter) While the throne of the most popular social networking is now Facebook (cited in â€Å"Facebook dethrones Myspace†), social networking sites are still some of the most visited sites on the World Wide Web Students will have to weigh the advantages and disadvantages of using social†¦show more content†¦(cited in Brady) These sites aren’t as popular as Facebook or Twitter, but they have a higher chance of being approved by school administrators and teachers, who are traditionally opposed to soci al networking sites. These sites provide students with a greater sense of privacy and security, so students can use collaborate with their peers for assignments or projects more safely than they would have been while using traditional sites. A downside of these sites are that they are not as popular as Facebook and Myspace, but their popularity is growing. Brady mentions that the Saugus Union School District in Los Angeles County has adopted Elgg as a website to be used by the entire educational community (cited in Brady). If students want their school to use these sites, they should approach school administrators and teachers with a proposal and explain the benefits of these sites. Gerwitz, editor in chief of ZATZ publishing, cyberterrorism advisor to the International Association for Counterterrorism and Security Professionals and a special contributor to the Frontline Security Magazine, reports that â€Å"According to Nielsen Company Research†¦..the total number of time spent by more than 100 million users on Facebook alone increased by a whopping 556 percent from December 2007 to December 2008.† (qtd in Adam) Students are spending increasing amounts of time on social networks like Facebook, Twitter, and Myspace. Parents are also behind students; BradyShow MoreRelatedThe Pros and Cons of Social Networking1378 Words   |  6 PagesIntroduction In this era the social networking plays vital role in everyone’s life. Everything has its pros and cons. The most common social networking site is facebook. Everyone has their own profile for free as a result billon users on facebook. Threats arising from social networking: System overload – Due to non-corporate usage the performance of network degraded. The drainage of resources may become powerful. As social networking sites widen into shared and streamed media. MaliciousRead MorePros And Cons Of Social Networking1713 Words   |  7 PagesSocial networks benefit many people around the world. The information sent is fast. Only one click and there it is in front of us. If the people know how to use it, it’s in the right places, right times, and â€Å"right† click. A benefit of social networks is to keep us connected with family on the other side of the world. It also helps us to know what is going on in the world where we are staying. For example, I live in America and the other half of my family lives in Vietnam, and social networkingRead MoreThe Pros and Cons of Three Types of Online Communities- Chat Rooms, Social Network Sites, and Online Classrooms1455 Words   |  6 Pagesare: email distribution lists, message boards and newsgroups, instant message (IM) services, chat rooms, blogging sites, social networking sites such as MySpace and Facebook, and online classrooms/school groups. I intend to discuss three of these type s of online communities – chat rooms, social network sites, and online classrooms/school groups – and look into the pros and cons of using each of these. First, I will talk about internet chat rooms. A chat room is a site where users can talk liveRead MoreSocial Networking: An Important Aspect fo the Average American1571 Words   |  6 PagesSocial networking has proven to become an important aspect of the average American’s daily life. Statistics show that 73% of all online users utilize some form of social networking. 90% of Internet users aging from 18-29 years old have a social network. (pewinternet.org) There are two prominent stances on the social networking epidemic that has arisen over the years. Many hold the opinion that social networking is an invention to be taken advantage of. Yet, many also believe that social networkingRead MoreSocial Networking Is Beneficial For Students And Grown Ups1002 Words   |  5 Pageswith social networks The issue that will be discussed has to do with social networking. Social network is highly important because it is used on a daily basis in our surroundings. Technology has progressed throughout the years, and has created many opportunities for students, businesses, and adults to succeed. Almost everyone in the world has access to the Internet or soon will have access to the Internet. This topic is important because many have the image/ belief that social networking is badRead MoreDoes Social Networking Have A Positive And Or Negative Affect On Individuals?942 Words   |  4 PagesDoes Social networking have a positive and or negative affect on individuals? According to Susan Greenfield, a neuroscientist at the Oxford University, social networking has many negative affects. She claims that â€Å" social networking is infantilizing the human mind, into a state of mind as of children. In my opinion, I agree with greenfield’s statement because many individuals are relying on their social media accounts for everyday use. However, social networking has greatly influenced the way individualsRead MorePro And Cons Of Social Media1168 Words   |  5 PagesSocial Networking, More Like Social NOTworking Picture this, you just got the greatest haircut of your life. Feeling good, you take a selfie and post it on Instagram with the caption, â€Å"Feelin’ good.† A few hours later, you get a notification that someone commented on your picture. That comment reads, â€Å"You’re feeling good about THAT haircut? LOL!† You were just a victim of cyberbullying. Cyberbullying is one of the many negative effects of social networking and social media on teens, and could createRead MoreSocial Networking Is Beneficial For Students And Grown Ups1182 Words   |  5 Pagesto do with social networking. Social network is highly important because it is used on a daily basis in our surroundings. Technology has progressed throughout the years, and has created many opportunities for students, businesses, and adults to succeed. Almost everyone in the world has access to the Internet or soon will have access to the Internet. This topic is important because many have the image/ belief that social networking is bad, and have debated on what is considered a social network.Read MoreEssay On Pros And Cons Of Social Media1090 Words   |  5 PagesThe Benefits of Social Media in Todays Society Just like everything else in life, social media has pros and cons. However, the pros outweigh the cons. Social networking assists businesses in various different ways. While also helping people communicate more with others and to become more connected with them too. A fast and effortless way to spread and receive crucial information is through social media. In the beginning, it was just kids spending their time on websites like Facebook, MyspaceRead MoreSocial Media And Its Effect On Society899 Words   |  4 PagesAccording to Simon Kemp, there are roughly 2.08 billion active social media accounts worldwide, which is â€Å"a 12% increase since last year† (Kemp). Social media has become an enormous part of everyday lives. It has been made so that everyone around the world can easily connect to one another- and almost instantly! Social media is a growing industry and has many positive and negative affects on those who use it. Social media is extremely beneficial to businesses. Businesses throw millions of dollars

Pros And Cons Of Nonprofit Expansion - 1567 Words

Abstract The author explores the idea of nonprofit organizations expanding to more than one location. To nonprofit organization owners, expansion can pose a difficult challenge financially, but also a necessary step to improve their outreach. Defining financial variables necessary for nonprofit organizational growth, then using those variables to look directly at physical capital (facility) expansion, and finally examining case studies on nonprofit organization expansion, the information the author gathers will directly impact a critical analysis on the research reviewed and any questions left unanswered. Keywords: nonprofit organization, financial vulnerability, facility expansion Pros and Cons of Nonprofit Expansion and its Effects on†¦show more content†¦Each variable directly independently plays an impact on financial vulnerability. Net assets are defined as â€Å"the difference between an organization’s assets and liabilities.† For nonprofit organizations, net assets are related to an organization’s ability to borrow funds. Tuckman and Chang (1991) found nonprofit organizations less likely to alter their programs and mission, following a financial shock, if they can leverage their net assets. An operating margin, or surplus, is â€Å"the difference between an organization’s revenue and expenses, divided by its total revenue.† A Nonprofit organization holding a great surplus can readily operate at a reduced surplus following a financial shock – allowing it not to alter any programs. The third factor for nonprofit financial vulnera bility is revenue concentration. Revenue concentration is â€Å"the proportion of income an organization receives from its various sources of revenue.† Nonprofit organizations who receive many sources of revenue can better withstand the impact of a financial shock than those with little sources of revenue. After a financial shock, nonprofit organizations, along with all businesses, will try to cut down expenses. Woronkowicz (2016) states â€Å"administrative costs are preferred to those to programShow MoreRelatedHarper Reiman Inc.1683 Words   |  7 Pagesthe organizations is a nonprofit consulting firm. The main headquartered of the company is Dallas, TX and grew all the way to Harper town at Amarillo, TX. In 2000 both of them were the founder of the business; both studied in entrepreneurship class and followed their dream to developing in the nonprofit business. After working together at JP Morgan they both decided to start their own consulting firm which is called Ha rper Reiman, LLC. Knowing they need help in nonprofit their help from financialRead MoreServing Lunch For School Children Essay1402 Words   |  6 Pagesconsumption of nutritious agricultural commodities and other food, by assisting the States, through grants-in aid and other means, in providing an adequate supply of food and other facilities for the establishment, maintenance, operation and expansion of nonprofit school lunch programs† (Avey, 2015). Unfortunately, the school lunch program made little progress after that. Without any sort of guarantee of the success of the school lunch program in the years ahead, school boards were reluctant to takeRead MoreCostco Analysus1178 Words   |  5 PagesAlternatives for Costco 1. Expansion in Asia Pros: Great store performance in Asia (Korea, Taiwan). Large population can bring a huge potential market with great profit. Cons: Large setup costs. As going abroad, there will also be a lot of risks like exchange rate and transportation costs. 2. Increase social responsibility by making donations to some nonprofit organizations. Pros: Increase the custom base and will get a good reputation Cons: The cost of promotion may harmRead MoreCatholic Hospitals And Health Care Policy1618 Words   |  7 Pageshealth care in the United States is comprised of more than 600 hundred hospitals and more than 1,400 long-term care and other facilities in all 50 states (Trancik, 2015). It has been analyzed that the Catholic health ministry is the largest group of nonprofit health care providers in the nation. Every day, one-in-six patients in the United States is cared for in a Catholic hospital (Trancik, 2015). However, in many situations Catholic hospitals have been ridiculed for not providing care to patientsRead MoreThe Cost Of The Medicaid Program1215 Words   |  5 Pagesthe Supreme Court allowed the freedom of choice not to participate the Medicaid program statewide. Then what would happen if the states did not adopt the Medicaid program? In a recent study Carter Price, lead author and a mathematician at RAND; a nonprofit research organization estimates the likely effects if 14 states choose not to expand Medicaid under federal health care reform. If the states opt not to expand Medicaid coverage under federal health care reform, it will leave millions without healthcareRead MoreThe Success And Potential Problems Of The Company1427 Words   |  6 Pagesservice industry. Case ‘Club Med’ is an evaluation case. This essay aims to critically analyze the success and potential problems of the company by using SWOT analysis. Background Information Club Med, started by Gerard Blitz and oriented as a nonprofit sports association in Europe in 1950, is a global hotel company that directly and indirectly sells the low-price vacation package to customers through travel agency and reservation center. Due to the rapid growth of the association, Blitz invitedRead MoreAchieving and Maintaining Individual Excellence Paper 11414 Words   |  6 Pages In the CareSafe Foster Systems Budget the management team has to review the importance of a workable budget to make changes for financial gain. In order to increase the size of the CareSafe’s surplus is provide four methods and reviewing the pros, and cons of each discussed method. When planning a budget listing future and existing problems in the program will outline the future development of the financial proposed budget structure. When reviewing the background an education on how to maintainRead MoreA Small Non Profit Healthcare Clinic Essay1764 Words   |  8 Pagesthe employees. Providing health insurance coverage for employees has its pros and cons, but employers are not required by law to offer such benefits as they can be quite costly for a small business (Pro and Cons: Offering Employee Benefits). However, employers who do provide health insurance benefits are bound by certain laws and regulations, and must create a benefit plan that complies with the law. Pros and Cons The pros of offering employee benefits are that businesses can get the tax advantageRead MoreFresh Fields Case Analysis2076 Words   |  9 Pagesgood relationship with consumers and buyers †¢ In addition to supporting and promoting health and well-being, Fresh Fields stores are also active participants in their communities. Each year they give back 5% of their after tax profits to local nonprofit organizations. C. Suppliers †¢ Must use natural methods of pest management and apply the least amount of agricultural chemicals †¢ Small meat and poultry farms who avoid growth promoting drugs often used by factories. †¢ Seafood that is soldRead MorePascack Valley: Hospital Review3271 Words   |  13 PagesFor-profit hospitals are known to charge steeper prices for their services than their not-for-profit counterparts. One of the reasons why for-profits charge higher prices is because they are not tax-exempt so in order to make as much profit as the nonprofits, they need to increase revenues significantly. Secondly, the financing received by a for-profit hospital is at a higher rate of interest than that of a not-for-profit which is tax-exempt. As a for-profit, the organization will charge high prices

Why Use a Smart Phone Free Essays

Why use a smart phone? Why use a smart phone ? Everybody has a cell phone and the majority of us have a smart phone. Smart phone plays an important role in our daily life. You can see whenever in the street or metro, millions of people use smart phone. We will write a custom essay sample on Why Use a Smart Phone or any similar topic only for you Order Now Why smart phones so popular around the world? I will start my topic now, why use a smart phone? It is universally acknowledged that we can use a smart phone not only chat or text with others but also play games, read books, listen to the music, surf on the internet. Sometimes we can even say that smart phone is a small computer. Obviously, we use smart phone as an entertainment tool. Firstly, smart phone can be used as an audio player. It can provide you the music whenever you want , like everyday in the metro, music is necessary for me. Secondly, a smart phone sometimes can be instead of e-book. Although I think that E-book is popular nowadays, you don’t need to buy it if you have a smart phone. In addition, downloading books in phones instead of buying books in stores also means that you are an environmentally friendly person. Simultaneously, many games are free to access if you are tired from work or study. Finally, smart phones can be used in different ways so in my opinion, using a smart phone as an entertainment tool can make our life becomes simple and colorful. Do smart phones have bad effects on our study? No way! I know that many people have an IPHONE as someone asked last week. For me as an example, I use IPHONE, I have many free apps which is benefit to my study. Cause English is my second language, I have Word a day this app to help me master more English vocabularies and SAT flashcards. I also have Google translate dictionary . Sometimes if you feel it is too complicated to look up the dictionary when you want to understand the word just check on your phone dictionary. In conclusion, smart phone to me is a good study tool. Overall, smart phone is a really great invention right? Sometimes even me think that using phones to surf the internet is incredible. Because I am not major in electronic stuffs and I am not interested in it. I don’t want to do some deeply research about it, but we all know that smart phone is useful and nowadays it becomes really easy to use. We must choose it for no hesitate. How to cite Why Use a Smart Phone, Essay examples

Entrepreneurship Effective Small Management -Myassignmenthelp.Com

Question: Discuss About The Entrepreneurship Effective Small Management? Answer: Introducation A successful venture includes an innovative business idea. This is the milestone while forming any kind of company and its success. This report is about the business plan about a new product provided by the hospitality industry to the customers. This product would be a heating boot for the customers to keep their feet from the extra cold. This is a new venture of a company named Comfeet Corporation which will produce new and innovative types of boots. Name of the product would be heating boots which would be an innovative product for the customers to keep their feet warm during the cold season (McKeever, 2016). This kind of product would create an effective business opportunity is essential for the entrepreneurial venture. For this manner, company would observe the trends for the certain products, services or business for creating value for the customers. Aim of this business plan is to provide comfort to the customers with the innovative heating boot idea. Core objective of the busi ness plan is to identify the needs of the customers for their feet and provide the product accordingly. For this manner, the product would be provided to the people who stay in cold places. The unmatched pleasant experience would be helpful for the hotel to satisfy and retain the customers for hospitality services (Hoskisson, 2009). Vision statement Vision statement of Comfeet Corporation is to develop the heating boots for the customers while they are performing outdoor in the cold climate. Company would be focused on providing top-notch personalized customer services with the innovative heating boots. Basically, vision of the company is to be on the top of the latest trends in terms of innovation and style of footwear and boots. Mission statement Mission of the Heating Boots is to provide comfort to the customers along with the selection of the innovative shoes and outstanding customer service. Company would focus on the customers by focusing and maintaining them. Mission by this innovative idea would be achieving strong position in the operating market and giving tough competition to the competitors. This service would meet the expectations of the customers (Glowik Smyczek, 2011). Goals and objectives By the new product of Heating Boots, objective of the company Comfeet corporation would be set for first three years. The objectives for the first three years of the business operations involve: To develop customer-oriented product i.e. heating boot which primary objective us to maximize the expectations of the customers, To increase the number of customers by 20% per year by serving them an unmet need with the outstanding new product of heating boots and customers services, To develop a start-up business with its own cash flow, To become market trendy with heating boots that will cater to the needs of every customer in the market, and To receive 50% profit margin within the first year. Management and personnel In the business management and personnel of this new venture, company would focus on the recruitment and selection method. Initially, in the first month managers will be in the work forecasting. In the second month, company will hire distribution and customer service people. For the hiring process, company will adopt internal and external recruitment methods. For this manner, advertisements will be published in the newspaper and other job portals. With the help of these resources, company will recruit people. Further, some technical experts and programmers will also be hired to develop website of the company. A plan will be formulated to develop the slay structure of the employees (Farahmand, 2011). Legal structure and issues Comfeet Corporation will be a sole proprietorship as there are two people in the business venture. Sole proprietorship is the easy and simplest legal structure for the business venture. In the sole proprietorship, both the partners will be responsible for all the profits, debt, losses and liabilities. Setting the proprietorship does not require registration of the business. But in case of the company, Comfeet Corporation would need to register under the state laws and trade name registration will be required for this manner. There would be some legal and personal implications in the business structure. Along with this, there can be some legal issues while forming sole proprietorship i.e. lack of financial controls, personally liable, and issues in rasing capital. Industry and customer analysis From the market analysis, it is observed that the footwear market is expected to improve by $371.8 billion by 2020. The footwear industry is growing at the steady pace since last few years. The analysis of this report includes the new types of heating boots that would be used by all age groups and genders. The demand for the trendy and comfortable footwear among all the age groups is the key factor which is driving the global footwear industry. Comfeet Corporation would take advantage of this factor and would provide innovative heating boots to those customers. The footwear market is basically segmented by various types of footwear, different platform for sale of footwear, end users of footwear, material used and sales across different geographies (Baker, 2014). Comfeet Corporation would target various groups of customers including customers with all age groups. The company would basically focus on the people who are working professionals and who wish to go out for the vacations i.e. travelers. It is observed that in the cold season, feet lose their heat. While working in outdoor in the cold, feet are susceptible to the cold temperature. This is the reason; people are having less enjoyable outdoor experience as they are unable to keep their feet warm in the cold environment. It is analyzed that there is direct correlation between discomfort level and duration of time in the cold. So, this is the problem in the market i.e. how to keep feet warmer during the cold season so that people can get comfort for the longer periods of time. In the current market, the concept of boots is not developed that can generate heat for feet of people. So, there is the need to design such boots that can benefit people to keep feet warm. The concept should be esp ecially for the older people as it is observed that there is the direct relation between the age and length of time it takes to feel comfortable during the cold environment. With the heating boots, people would be able experience of outdoor activities for the long time and it will also increase the overall happiness of the customers (Dentchev, 2009). Competitor analysis For Comfeet Corporation, main competitors would be local shoes and boots brands. By adopting the technology, these companies can be potential competitors for Comfeet Corporation. Further, established companies will also become main competitors as they have strong position in the market. At the global level, there are some brands i.e. Nike, Adidas, Reebok, Puma and Skechers on which customers rely deeply. If these companies adopt the idea of Comfeet Corporation i.e. heating boots, then the potential customers can be shifted towards these brands as they have strong brand image at the global level. But, initially Comfeet Corporation would have competitive advantage due to this new heating boot as it is based on new and innovative idea of heating boots with the use of electric blanket in it (Schnaars, 2010). SWOT analysis The strength of product heating boots is that the product will provide unique experience and comfort to the customers feet. Along with this, company will provide the boots in those areas where people have to deal with the cold environment. Further, heating boots would have large customers as the product would target the customers with all the age groups. By introducing this innovative product, company has opportunity to understand and experience the requirements of the customers as it is new in the footwear market. So, the company has many opportunities to expand the business (Scarborough, 2015). Although it is very beneficial for the Comfeet Corporation that the company is new in the business and there could be various opportunities to experience and learn in the business. But there can be some weaknesses of the company while operating in the market. Footwear industry is dynamic and the preferences of the customers change continuously so; it would be very difficult for the company to satisfy them. Further, the heating boots will keep the feet warm with the help of electricity. So, there can be the risk of current in the feet of people. Along with this, there are some established competitors in the market who can also come up with this idea. There is also risk associated with the idea of heating boots that it would be successful or not. As it is known that company and its idea is new in the marketing so, there are not too many stores of Comfeet Corporation. So, company has opportunity to open up many stores as they would be unique due to new heating boots products. Further, the markets have various requirements for the cold season as everyone has various outdoor activities. So, company has opportunity to expand the business with this new idea. It will also improve the sales of heating boots undoubtedly. Comfeet Corporation would identify the opportunity and produce effective heating boots for the customers. The most important thing is to satisfy the requirements and expectations of the customers with the new heating boots. In current time, customers pay attention to the quality products. If the quality of the boots is bad, customers will give up purchasing the boots. One of the major threats for the company would be competitors who already have strong brand name in the footwear market. Those companies have high profile and long history. Some companies have good quality and lower price of the products to attract the customers. Further, use of electricity in the boots can also be threat for the company as there can be the risk of electric current that can harm to the customers. Along with this, it is the start up and the funds are not strong enough. The development capacity can be weak as there is the strong competition in the market (Marcer, 2012). Marketing plan component analysis By the marketing strategies for heating boots, Comfeet Corporation has aim to achieve leading role in the footwear industry. Along with this, aim of the company is to increase market share by producing quality and innovative products for the potential customers. There are following marketing components which are important for marketing plan of heating boots. Pricing strategy- Comfeet Corporation will adopt value based pricing strategy to provide values to the customers with the affordable prices. With this strategy, company would be able to serve valuable products to the customers at the lower cost. Market expansion strategy- Comfeet Corporation has aim to expand the business at the global level. For this manner, company has marketing strategy to expand its business by the effective channels in all over the world. With the improved product lines, company would be able to do so (Seshadri, 2009). Direct marketing- Comfeet Corporation would use direct marketing to introduce this new product to the target market. To make bigger impact, company would use salesperson to approach some individuals in the target market segments. Company would use communication mix for the direct marketing to maintain strong relationship with the customers and motivate them to purchase the product heating boots (Hill, Jones Schilling, 2014). Brand name Brand name is important for any product to survive in the market. Basic and important function of the brand name is to make easy for the customers to select products and their purchasing decisions. Creating a strong brand is important for the product heating boot to have higher profit margins in the business operations. For the heating boots, the price will be low and affordable. For the heating boots, brand development would include some steps and those are as follows: The brand strategy of the Comfeet Corporation is simple. Strategy of the company is to keep the product simple, and providing quality at the affordable prices. After making clear with the brand strategy, first element is to develop a brand name for the product. Basic guidelines for naming the brand for heating boots are that it should be durable across the culture, time and category. The company wants to have such name that is easy to pronounce for the customers in all over the world. Heating boots name is selected for the brand name as it is simple to pronounce and it tells what the product is all about. Giving the brand of heating is related to the name which would likely to create the brand of heating shoes in the mind of people (Drummond, Ensor Ashford, 2012). Brand colors- Choosing brand color is an important part for the branding. The brand colors should match the personality of brand and should create the pleasing combination. For this manner, company will took a drive into color psychology to understand the minds of the consumers in terms of brand colors and shades. Along with this, company would also analyze to the other brands in the industry that what colors other companies are using to attract the customers. It is analyzed that big brands do not have various colors. They just have black, white and gray for the brand colors. Reason to select brand color is to match the brand with the personality of the customers. So, four colors are selected for the brand color i.e. blue, black, white and brown (Renton, Daellenbach, Davenport and Richard, 2015). Logo development- After the selection of brand name and color, logo development would be started by the company. Logo or the brand mark is the actual face of the business. Consumers see the logo first and make perception about the specific business. Comfeet Corporation would generate ideas and choose the concept which would attract the customers. Logo of the company would appeal to the potential customers to buy the product provided by the company. By designing the logo, company has aim to be simple and stay consistent to the brand (Lymbersky, 2009). Market segments and target markets Based on the above discussion of the market, Comfeet Corporation would target the customers with all age group. Comfeet Corporation is the company having business to the customer strategy. Men, women and kids, all would be the main target of the company as every person needs to keep feet warm during the cold season. So the product heating boots will target both young generation as well as senior citizens. In current time, customers seek for quality, uniqueness and convenience in the products. Company is planning to target the customers having age of 10 to 60. Within theses age group, all the potential customers would be targeted. The customers for Comfeet Corporation will be those who are able to pay worth price for the quality products. So, the target group for the company would be those people who are able to spend worth money for the quality heating boots. There are many people who spend their money on these boots to keep their feet warm. So, it would be easy for Comfeet Corporati on to attract the potential customers as heating boots are the need of people in the cold environment (Lam and Harker, 2015). Market positioning Comfeet Corporation will position itself in the mind of the potential customers as the leader in the heating boots. The company has made such product that will satisfy its niche market with the product of heating boots. The brand logo and color would appeal to the target customers to buy the product with the confidence and sense of inspiration. This will create strong competition in the footwear industry. To create strong competition in the market, company would have effective positioning statement. Positioning statement of Comfeet Corporation would is that for every person, Comfeet Corporation provides perfect heating boots that keeps their feet warm for every outdoor activity. In this manner, there are following positioning strategies adopted by the company i.e. Applying style and attitude, Providing quality level and valuable product, Improving brand image in the consumers mind, and Positioning itself as the premium brand with effective design products (Payne Holt, 2008). Competitive advantage In the operating market, it is crucial for Comfeet Corporation to take competitive advantage in terms of product quality and customer services. The company has incorporated technology in its product heating boots as there would be electric blanket in the boots that will operate with the battery system. This is the most competitive product as it would enable the customers to keep warm their feet with the help of this innovation (Gruca Rego, 2009). Further, for achieving competitive advantage, company would adopt global outsourcing strategy which would enable the company to get low cost in the production of the heating boots. With the competitive advantage, Comfeet Corporation has aim to be the most innovative company that has brought new thing in the footwear industry. So it would be done by the effective research and development which has capability to produce new products for the customers (Preble Hoffman, 2009). Marketing mix It is well known that Comfeet Corporation is new in the market so company would not have wide range of products. In the product range of the company, there would be unique heating boots for the prospective customers in the new markets. The product offered by the company would include diversity of ideas to develop new style heating boots. The product would b e for all age customers. Heating boots would basically meet the demands of the people for heating their feet so that they can enjoy outdoor activities in the cold environment. the design of the product would meet all the limitation in terms of material, cost, comfort level, sustainability and reheat ability (Lee, 2009). Price- Selecting price range for any product is very crucial for the company. Comfeet Corporation will always try to keep an affordable for its potential customers. If the company is selecting the target market and positioning carefully then prices of the product would be fairly straightforward. Comfeet Corporation will normally use the market share strategy i.e. company with the target market share would enjoy by the lowest cost and highest long run profit. Comfeet Corporation would set the prices based on the perception of the customers in terms of product value. For this manner, company would adopt value based pricing approach. Along with this, sometimes company would provide discounts on the basis of events and occasions. On the Christmas and other especial days, Comfeet Corporation will allow discount of 20% of sales price on the two pairs of boots (Dant, 2009). Place- As Comfeet Corporation is new in the industry so it will try to open new stores and outlets for offering the products to the customers. Company would target in those areas where people have to deal with extra cold environment. Further, company would expand its retail network by the extensive network of dealers and deports. The retail outlets of the company would be segmented based on the profile and different market segments (Joshi, 2009). Promotion- As the company is new, so it would take extra efforts to promote its product among the customers. Although company would have retail outlets in all over the country but advertisements are also important for introducing the product among the customers. For this manner, company would focus on some promotional activities i.e. TV campaign, print advertisement, web-based E-flyer, and social media advertising. In the promotional tactics, Comfeet Corporation would follow push strategy i.e. sales force and trade promotion to push the products towards channels. Financials For the success of heating boots, it is important to establish the business in the operating market effectively. For this, company has to forecast the profit and loss in the business. Start-up cost Heating boots will include various start-up costs. The cost will involve legal fees for business development, office supplies, telephone installation, inventory storage, computer and laptops, internet connections etc. The financial projection for the start-up cost is described below: Start-up Expenses Amount Legal $3000 Stationery expenses $400 Web Development $12,000 Total Start-up Expenses $15,400 Start-up Assets Required Cash Long term Assets Current Assets $66000 $2100 $0 Total Assets $68100 Total fund Requirements $83500 Profit and loss projection For introducing new business and product in the market, company needs an effective financial plan and profit and loss forecasting. The aim of this plan is to achieve the organizational goals and objectives. Financial plan for next three years is described below: Heating Boots Profit Loss Statement Amount ($) Year 1 Year 2 Year 3 A. Sales $189,397 $412,314 $456,226 Direct Cost of Sales $56,819 $123,694 $136,868 B. Total Cost of Sales $56,819 $123,694 $136,868 Gross Profit (A-B) $132,578 $288,620 $319,358 C. Operating Expenses Salary $157,000 $174,000 $190,000 Rent $8,400 $8,400 $8,400 Insurance $1,800 $1,800 $1,800 Utilities $1,500 $1,500 $1,500 Depreciation $636 $636 $636 Payroll taxes $23,550 $26,100 $28,500 Sales and Marketing and Other Expenses $10,800 $9,200 $7,200 D. Total Operating Expenses $203,686 $221,636 $238,036 Profit Before Interest and Taxes ($71,108) $66,984 $81,322 EBITDA ($70,472) $67,620 $81,958 Taxes $0 $20,095 $24,397 Net Profit ($71,108) $46,889 $56,925 Net Profit/Sales -37.54% 11.37% 12.48% Break even analysis After analysis and evaluating and projected profit and loss in the business, it is expected that for the break even analysis, $24,248 will be needed on monthly basis to achieve the break point. For achieving the break-even point, the graph is described below: Based on the above analysis, it is observed that if the company follows above profit and loss projections, then it will get profit within next three months. In the first year, company can face loss due to initial expenses in the promotion and advertising, but after the establishment of the business, company will gain profit continuously. Conclusion This report is based on the business plan of the company Comfeet Corporation which is going to start new product heating boots. From the above discussion, it is observed that product heating boots would be an innovative product for the customers to keep their feet warm during the cold season. Objective of the business plan is to identify the needs of the customers for their feet and provide the product accordingly and achieve profit within three years. 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