Chapter 6

Smart Selling and Effective Customer Service

-Using technology to sell

All the technological concepts used to identify customers through market research can be instrumental to selling to your segment of the market.

For a business such as Savvy's Nails to Go, internet advertising could be essential. College students use social networks for everything, so a page devoted to my business could promote many customers.

Chapter 5

Developing the Right Marketing Mix

Product, Price, Place, Promotion

I am going to focus on promottion for Savvy's Nail's to Go.

Promotion: Advertising + Publicity

The goal of promotion is to get your marketing message out to your customers. A business like SNTG, focuses on a lot of word of mouth advertising. In order to have this, you must have satisfied customers. Flyers also will be circulated in areas where my target market is.

Chapter 4

Exploring Your Market

Market research helps you know your customer.

It is important to know who your potential customers are, where they can be reached, what they want and need, how they behave and what size the potential market is.

My target Market for Savvy's Nails To Go are the Working Woman – Someone who is too busy to attend to minimal things such as nails, but would enjoy having them done if it was convenient, and the limited College Student - Students who might not have access to a vehicle, and would not be able to reach a typical nail shop before closing.

Chapter 3

Creating Business from Opportunity

There are 4 basic types of businesses

1. Manufacturing- Produces a tangible product and sells it either through distributors or directly to end customers.

2. Wholesale- Buys in bulk from manufacturers and sells smaller quantities to retailers.

3. Retail- Sells individual items to consumers.

4. Service- Sells an intangible product to consumers.

My business I am using for my business plan, is "Savvy's Nails To Go." My business is a service, because i am painting others nails. I will not be selling my nail polishes so I do not have a tangible product for my customers.

Chapter 2

The Business Plan: Road Map to Success

Writing a business plan will save you time and money.

I completely understand this statement now that we are writing our own business plan. A business plan is so in depth. Anyone can say "oh I want to start my own nail shop," but you have to think about all the aspects you need to have a profitable nail shop, rather than wasting your time and money. Before you start your own business you need to think about your road map to success, your history and plan for an organization and meeting the needs of various audiences. If your business plan looks like a failure, more than likely your business will not be successful.

Chapter 1: Entrepreneurs Recognize Opportunities

Chapter one in "Entrepreneurship" written by Steve Mariotti and Caroline Glackin explains what entrepreneurs do. While discussing the difference between an entrepreneur providing a product or a service. The first chapter analyzes how free-enterprise economies work and how entrepreneur fit into them. Evaluating when you have an opportunity to start your own business and explains how profit works as a signal to the entrepreneur.

After reading the first chapter the first person I thought of was a family friend. Steve Church started Taco Shop, a fast-food restaurant in Wichita Kansas where I am from. When I read the "Why be an Entrepreneur" section in the chapter I thought all 5 points were exactly the reasons Steve started his business.

1. Control over time

Steve wanted to bring good food to the city of Wichita, but he loves being involved with sports, and a lot of other things so starting his own business gave him the flexibility to do all the things he loved.

2. Fulfillment

Steve Church loves his company, providing youth with jobs, and feeding people at a very affordable price. He sponsors many sports teams which is a great help to the community.

3. Creation/Ownership and 4. Control over Compensation

This goes along with how Steve wanted to be able to afford helping out the less fortunate, a big reason he started his business.

5. Control over Working Conditions

Since Steve supports, helping the community he runs his business that way. Accepting donations, and allowing customers to help out as well.