Business Proposal - 1436 Words

Business Proposal Bradley Jameson ECO/561 July - 21 2014 Professor Seyed Baladi Business Proposal The technology market is a lucrative, ever-changing, and consistently growing business market. Will Bury (University of Phoenix, 2014) has developed a digital reading application that is simple to use, and necessary in today’s world of academics, business, and pleasure use. It is the intention of this business proposal to acquire the financing needed to begin launch of this new application and the following in-depth information will show that the numbers support Mr. Bury’s proposal. Market Analysis In the growing technological age and with the introduction of digital reading devices like the iPad ® from Apple Inc. or the Kindle ®Ã¢â‚¬ ¦show more content†¦In order for Mr. Bury to improve the technology of his product, he will need to hire additional labor to run the conversion process and assist in researching and securing copyrighted material appropriate for conversion. While this will increase his variable costs, it will allow Mr. Bury to increase production, thereby increasing revenue. In addition, he will likely need to secure a more suitable location to operate his business. A larger space will be better able to accommodate additional workers and equipment. These additions will increase his total costs and will factor into the price he sets for his product. In order for Mr. Bury to determine an appropriate price, he will need to add all of his variable costs then divide by the number of units sold. This will give him the cost per unit. This cost sho uld remain constant, regardless of how few or how many units he sells (Business Owners Toolkit, 2010). Company Growth Mr. Bury will need to budget for advertising costs to promote his product to consumers. This will be even more critical as the expiration for his patent nears. Differentiating his product from his competitors as more companies enter the market will be necessary to maintain his market and profit share. However, Mr. Bury will have to offer a large library catalog to compete, and will have to place an effort in marketing to gain recognition and maintain market share.Show MoreRelatedBusiness Proposal1133 Words   |  5 PagesBusiness proposal A business proposal is perhaps one of the most critical documents you need to learn how to write. It is what spells the difference between success and failure, whether you’re a freelancer or you have a company of your own. In today’s cut-throat business world, entrepreneurs find themselves spending hours upon hours submitting business proposals to potential clients, and not get any results. 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