Business Studies Narrative Essay Example

in business operations.

The objective of our business is to deliver an exceptional and superior service experience to customers, resulting in a deep sense of appreciation for their loyalty. This approach will encourage customers to visit our spa repeatedly. Our marketing strategy is WDM, as it is the most effective technique for enticing customers to purchase our services. We use promotional tools to reach out to potential clients who are interested in visiting Man Spa.

Man Spa utilizes advertising and media to promote their spa services, build a positive brand image, and establish strong relationships with customers. Special offers are released to attract more consumers, with advertisements typically appearing on television, in newspapers and magazines. The goal is to increase financial gains by boosting sales volumes and expanding the customer base. Advertising is a highly effective strategy for broadcasting the company's brand image and spirit, while introducing new customers to their spa services.

Direct sales can also be used to attract customers, but our spa places a strong emphasis on quality, reliability, and dependability of service to ensure long-term success. What sets us apart from competitors is not only the certification of our staff in their respective fields but also providing essential training to understand the dynamic individual energy system.

Man spa aims to strengthen their customer trust and meet their needs, while differentiating itself as a fully worthy and relaxing setting to reduce the stress of people's daily life. Additionally, it creates a unique atmosphere for customers to relax during their spare time, thus building a strong relationship between the business and consumers.

Our staff communicates with consumers to guide them towards a healthy lifestyle through a magazine. The

spa market is highly competitive, and our men's spa must compete with other men's spas as well as many spas catering to both men and women in Singapore. This is because all spas offer health and wellness programs, making it difficult for consumers to distinguish between them. Strengths and weaknesses of the spa market are assessed.

The combination of location, consumer-oriented system, and service gives our man spa a distinct competitive edge. It is conveniently located in the main center mall on Orchard Road, providing easy accessibility to customers. Our focus on training our staff comprehensively ensures that we offer reliable and high-quality service that distinguishes us from other players in the industry. Additionally, the spa is exclusively designed for men.

Our consumer-oriented systems prioritize customer satisfaction, providing exceptional services and effective communication. Our competitive advantage lies in making our customers feel like family, exceeding their expectations for immense pleasure and reduced stress. We also offer helpful health tips and information to ensure their continued well-being.

We have a distinctive proposition for our clientele with an exclusive deal that grants them advantages and expertise. Our favored approach is Word of Mouth (WOM) as it generates a significant number of repeat customers. Yet, commencing a male spa venture can be precarious, especially given the expense of our location and the cut-throat competition in the market. These factors increase the possibility of failure due to substantial investment requirements. Furthermore, introducing new and unfamiliar options may lead to reduced sales in a brief span of time alongside relatively high fees.

Despite facing competition from other establishments with lower rates, we are confident that our spa will thrive in the near future.

Our goal is to operate a successful spa business in Singapore, which presents opportunities for further growth. We have pinpointed our target markets and are prepared to enter them.

To reach customers, companies should advertise and promote their products, implement direct sales strategies, and analyze strengths and weaknesses. These approaches can benefit the company in various ways and contribute to long-term success.

For our spa business, we have chosen a partnership arrangement that involves cooperation to enhance mutual interests. Partnerships reduce business risks while aiming for profit earnings and offering opportunities to share responsibilities by providing necessary capital.

Forming a partnership is advantageous because it does not require any legal formalities like sole proprietorship and no need to register the company. A simple agreement is sufficient to establish a partnership firm. Additionally, the partners are the business owners.

As partners, we possess equal rights to participate in the management of our business and collaborate to resolve conflicts. Our partnership structure facilitates inclusive decision-making, resulting in mutually beneficial and carefully deliberated decisions. Furthermore, all partners share joint and several liability for the firm's debts with no limit. However, unlimited liability is a significant drawback since we are jointly and severally liable for all business liabilities without limitations.

Thus, the responsibility for debts can be shared amongst us or may fall entirely to an individual and their personal property. Additionally, our partnership holds no distinct legal entity apart from the partners themselves. We each possess equal rights to dissolve the partnership at any given time and may provide our own input for management decisions. In cases of friction and disagreement amongst partners leading to business closure, this form

of partnership is currently considered optimal.

It is vital for businesses to conduct market research and gather feedback from consumers as this helps them identify consumer needs. Understanding what consumers want enables companies to develop tailored products and services that meet their needs, which is important in preventing business failure. Ultimately, the key to survival lies in outdoing competitors by understanding customers better.

Insufficient planning is a significant contributor to business failure, according to statistics. This is because it results in the inability to satisfy customer demands, leading them to switch over to rival companies. As a result, market research plays an essential part in preventing such failures.

Having a comprehensive plan is crucial for achieving success in business. Failure to prepare for potential risks can result in failure when pursuing new opportunities. It is important for small businesses to create a detailed plan that takes into account both internal and external factors, allowing them to gain a thorough understanding of the specifics and have greater control over their operations. A well-crafted plan also enables managers to quickly take action and refine business performance if unforeseen obstacles arise.

Reference: http://en.wikipedia.org/wiki/Partnership