Select a new good or service for an existing business or a business that you want to develop. Write a 1000 word business proposal for your chosen good or service. Include assumptions about the elasticity of demand and the market structure for the good or service. You might need to create hypothetical data or collect real data to determine fixed and variable costs. Include rationale for the following questions:
• How will you increase revenue?
• How will you determine the profit-maximizing quantity?
• How could you use the concepts of marginal cost and marginal revenue to maximize profit?
• What information do you need to determine this? Without this information, how would you make a decision?
• What is your suggested mix of pricing and non-pricing strategies? Explain your answer.
• Can you create or increase barriers to entry? If so, how?
• How will you increase product differentiation?
• Are there other ways to minimize costs for the product?
The question belongs to Marketing and it is a business proposal for a new business. The new line of business selected for this proposal is a pet care business. Pet care is a booming industry and it is worth millions of dollars worldwide. The demand for new and improved pet care products and services has been increasing in both developed and developing nations and worth of the industry is also growing every year. Hence, a business proposal for pet care business has been presented in the solution.
Total Word Count 1437
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