Recent orders
Financial Projections & Marketing Plan
Financial Projections & Marketing Plan
Presented to
Institution
Date
Introduction
According to Bangs & David, designing a perfect business plan requires a lot of strategies regardless the industry that the business falls. Planning a successful business needs strict evaluation of every minute detail towards the business prospect, in terms of its profitability and wining a competitive advantage. Wedding planning services has a lot of opportunities because people continue marrying in colorful wedding ceremonies (2011). Being 2 years old, Precious Moments has an opportunity to develop successful strategies that are likely to see it better placed in the next five years. The company wishes to develop a mobile application for its customers to log in and access their services online. The number of Hong Kong population is increasing with an increase in literacy levels. By the end of the mid 2012, the Hong Kong population was 7,136,300 people, showing a 0.9% growth rate (Census and Statistics Department 2012). The increasing population is adapting the present technology at an extraordinarily high rate. The introduction of mobile applications in wedding ceremonies thus is more effective. The Precious Moments business plan focuses on two areas; financial projections and marketing.
Financial projections
According to Guy (2000), financial projects show the estimated cost of developing the plan at hand, and the expected financial outcomes. Developing financial projections requires knowledge of economics of the business. Economics of the business is a section that carries out the business financial analysis that is later developed into financial projections. The economies of the business give an idea on how the profits are earned, and the number of products or services units that a business must sell in order to start making profits (Lipczynski & Wilson 2004). The projections are developed with various assumptions. Financial projections contain four main financial statements. These are: balance sheet; income statements; statements of stockholder’s equity; and statements of cash flows.
Precious Moments Company aims at developing a mobile application that is different for those of competing companies. The company requires financial assistance of HKD 4,300,000 in order to meet all its expenses within the following 5 years. Creating realistic financial projections is essential because it puts an organization in a better position to design for operations aimed at refunding the capital used. In developing the Precious Moments sales projections, the first assumption made is that the projections are wrong and have a low probability of succeeding. Since the sale projections for the company are difficult to predict, the following financial statements assists in estimating the financial data. Estimating the financial data is elaborated using the Pro Forma financial statements as shown in the tables below. The Pro Forma balance will assist in projecting Precious Moment’s financial situation in the coming five years. These statements give the company the eligibility to acquire financial assistance from a bank. Precious Moments wish to borrow a loan of $ 500,000 to finance its five year plan investments.
From the balance sheet, it is estimated the company’s assets will grow from 334,304 to 406,349 by the end of 5 years. From table 2 the projected sales of 78210 by the end of year 5. The net sales are projected to increase by 20 percent from 2012 to 2016. This is because the new mobile applications have the capacity of making the organization achieve its targets. Moreover, the various modes of promotions, like discount vouchers, will play a great role in attracting more customers. The company profits are also projected to increase by 20 percent giving an estimated growth from 334,304 to 406,349.
Table 1: Pro Forma balance sheet for Precious Moments assets and costs
Pro Forma balance sheet for Precious Moments
2012 2013 2014 2015 2016
Assets Actual Projected
Projected
Projected
Projected
Current assets
Cash & cash equivalents 60,250 63262.5 67058.3 71752.3 78210
Accounts Receivable, less allowances for doubtful accounts 43,251 45413.6 48138.4 51508 56143.8
Inventories 20,500 21525 22816.5 24413.7 26610.9
total current assets 124,001 130201 138013 147674 160965
Property plant and equipment
building and equipment 154,256 161969 170067 180271 75339.9
Total property 120,300 126315 132631 140589 54083.5
Less accumulated depression 64,253 67465.7 70838.9 75089.3 25634.3
net property, plant and equipment 210,303 220818 231859 245771 155058
Total assets 334,304 351019 368570 386999 406349
The Precious Moments sales are projected to increase by 15% within the next 5 years. Table 2 shows the projected company sales. From the Hong Kong market trend on the inflation rate, the increasing rate of salaries lies between 5% and 10 % depending on the job group. Seeking a loan of $170,000 will be very convenient for the company to achieve its five years goals. From the sales income statements, the company will have total sales of 1,777,772 U.S dollars by the end of 5 years. From table 3, the company projects its liabilities to increase from $ 197,400 to $ 213,672.1 in a period of 5 years. The projected cash flow is expected to increase by 12% each year. Table 4 shows the Pro Forma of cash flows for Precious Moments Organization in 5 years duration.
Table 2: Sales projections
Pro Forma Income Statement for Precious Moments 2012 2013 2014 2015 2016
Actual
Projected
Projected
Projected
Projected
net sales 320,200 384240 461088 553305.6 663966.7
cost of sales 200,000 240000 288000 345600 414720
Gross profit 120,200 144240 173088 207706 249247
Operating expenses
selling & other expenses 50,500 60600 72720 87264 104716.8
depreciation 5,500 6600 7920 9504 11404.8
Operating income 125,000 150000 180000 216000 259200
Income before taxes 125,000 150000 180000 216000 259200
Income tax expenses 35,000 42000 50400 60480 72576
Net income 90,000 108000 129600 155520 186624
Table 3: Pro forma of liabilities for precious Moment
Pro forma statement of Liabilities
2012 2012 2014 2015 2016
Current Liabilities Actual Projected Projected Projected Projected
Account Payable 20,200 20604 21016.1 21436.4 21865.1
Accrued expenses 6,200 6324 6450.48 6579.49 6711.08
Total current liabilities 26,400 26,928 27,467 28,016 28,576
Long term liabilities
Long-term debt 170,000 173400 176868 180405.4 184013.5
Total long term liabilities 171,000 174420 177908.4 181466.6 185095.9
Total liabilities 197,400 201348 205375 209482.5 213672.1
Table 4: Pro Forma statement of Cash Flow for Precious Moments
Pro Forma statement of Cash Flows
2012 2013 2014 2015 2016
Cash flows from operating activities Actual Projected Projected Projected Projected
Net income 90,000 100800 112896 126443.5 141616.74
Changes in Working Capital
Depreciation 7,000 7840 8780.8 9834.496 11014.636
Increase (Decrease) in Account Receivables 4,520 5062.4 5669.888 6350.275 7112.3075
Increase (Decrease) in Accrued Expenses 1,200 1344 1505.28 1685.914 1888.2232
Increase (Decrease) in Inventory 55,200 61824 69242.88 77552.03 86858.269
Increase (Decrease) in Accounts Payable 6,820 7638.4 8555.008 9581.609 10731.402
Total Adjustments 0
Net Cash Provided by Operating Activities 110,120 123334.4 138134.5 154710.7 173275.95
Cash Flows from Investing Activities
Purchase of Building & Equipment 75,000 84000 94080 105369.6 118013.95
Net Cash Flows Provided by Investing Activities
Cash Flows from Financial Activities 170,000 190400 213248 238837.8 267498.29
Principle Reduction in Long-term Debt
Net Cash Flows Provided by Financial Activities
Increase in Cash 12,000 13440 15052.8 16859.14 18882.232
Cash & Cash Equivalent at the Beginning of the Year 62,230 69697.6 78061.31 87428.67 97920.11
Cash & Cash Equivalent at the End of the Year 70,300 78736 88184.32 98766.44 110618.41
Determining the company’s return on investment (RIO) is very important since it aids in selecting the best investment options.
RIO = (Final Return/Initial investment) Δ(356/days)-1
Rio is calculated by dividing the initial investment by final investment. Then raise the answer to the power of 356 divided by the number of investment days. Finally subtract 1 from answer. The calculations are shown below. Precious Moments final return is 186624. The initial investment is 170,000.
= (186624/170000) (365/5*365)-1
= 0.018
The estimated RIO was 1.8% indicating that the financial projections were valid and the company could utilize them.
Marketing plan
Coming up with a perfect business plan requires an assumption that the area has many businesses offering the same service. Precious Moments aims at introducing a mobile application that is unique and more convenient for her customers. Perfect marketing strategies assist in placing the company in a better position to win the competition among its rivals. According to Kotler & Keller (2009), a marketing design is essential in an organization because it assists in the successful implementation of marketing strategies, and achieving the laid down objectives. A complete marketing plan creates a gateway for directing and coordinating the company’s marketing efforts. Precious Moments marketing plan focuses on promotional strategies for the new mobile application. The promotions will take place through online means, offline strategies, membership program, discounts, special gifts, and free training for couples.
Online promotion methods are the most effective since most people in Hong Kong are computer literate, and the increasing population will offer good market for wedding services. In an effort to attain the competitive advantage while serving the customers, Precious Moments should take various processes. The online promotion methods should ensure customer satisfaction and quality communication about new wedding materials. The promotion process will range from, identifying the target customers, using perfect approaches, and presenting them with what company offers (Suttle 2012). Online advertising of company services should include simulations showing examples of the new application in action in order to win a big crowd of people. The instruments to use on online promotions are; social media sites, blogs, Google applications, and the company website (Laudon & Traver 2010). The company will provide a window where people can put their login details in order to access various services offered by the company.
The other promotion method is offline means. This is meant for people who cannot access the internet, either because they cannot afford it, or they are not computer literate. Offline means of promotion creates more impact since they use physical methods in delivering the information. The company will develop business cards, brochures, company magazines, direct mailing, and other exhibits. The advertising team will make use of media in conveying the information to the people of Hong Kong. All the advertisement materials will contain the company’s information, which includes: company name, physical address, and contact numbers. The use of posters would be more effective since more people will have access to them while on the roads, or social gatherings. Moreover, differentiation of services will ensure customers are able to distinguish from the company’s services from those of competitors. Differentiation will be carried out on televisions. Differentiated services have the potential of attracting more customers since they make people curios (Levitt 1980). Other promotion strategies include, membership programs, offering discounts on certain services, performing special wedding parties, and offering pre-wedding courses for couples.
Budget
No Activity Cost ($)
1 IOS Application Development 20,000
2 Android Application Development 20,000
3 Content Management System 15,000
4 Graphic Design 10,000
5 Marketing (cost of promotions) 25,000
TOTAL 90,000
References
Census and Statistics Department. 2012. Population. Retrieved from:
http://www.censtatd.gov.hk/hkstat/sub/so20.jspBangs, J. & David, H. 2011. Creating a Plan to Successfully Market Your Business,
Products, or Services. The Market plan Guide. Retrieved from:
http://www.quickmba.com/marketing/plan/Laudon, K. & Traver, C. 2010., E-Commerce: business. technology. society. New Jersey:
Prentice Hall.
Levitt, T. 1980. Marketing success through differentiation. Harvard Business Review. Retrieved
from:
http://cte.jhu.edu/courses/pii/marketing%20success%20through%20differentiation.pdfLipczynski, J. & Wilson, J., 2004. The Economies of Business Strategy. FT prentice Hall.
Guy, F., 2000. International Journal of the Economics of Business. Routledge: Taylor &
Francis Group. Volume 7, pp. 265
Kotler, P. & Keller, K. 2009. Marketing Management. The thirteenth edition. Pearson Publishers.
Suttle, R. 2012, Objectives of Promotion Strategies. Retrieved from:
http://smallbusiness.chron.com/objectives-promotional-strategies-21929.html
A BRIEF HISTORY AND CURRENT FORMATS of television
Name
Professor
Course
Date
Introduction
Television in several parts of the globe has evolved into a new era. This is as a result of an exceptional intersection of contemporary transmission and reception technologies, innovative structures of financing, new ways of imagining the viewers, novel outlines of content and innovative constructions of the television as a commodity (Womack 49).
A BRIEF HISTORY AND CURRENT FORMATSAs an assistant floor manager in an evening magazine show, the practical experience was most fascinating. This role entails new learning and analysis of skills, theory, structures and roles in relation to the production process and team working. It is noteworthy that the TV production field has a rich history that is greatly inspiring. The surfacing of format programming has facilitated other capitals like Amsterdam, Berlin and London, to rise to eminence. Television genres included talent contests, game shows, home and self-improvement programs, as well as hidden-camera documentaries. They have currently evolved into centralized types of programming output. These program forms emphasize the capacity of the average person to appear on television and are an ingredient of the neoliberal zeitgeist (Bolter 205).
As an assistant floor manager, I have come to appreciate the perspective of Cury (105), that there are several interconnected elements of a planetary structure that are complexly interconnected and changing. First, the media industry component is composed of seven massive transnational corporations that are supplemented by additional conglomerates with strong regional transactions or those with that have worldwide reach focus on niche markets. Secondly, there is the technological infrastructure in the structure of global communication networks that embrace satellite, cable, as well as the Internet. This maintains and facilitates the functions of these organizations. In addition, there is the entertainment and news content as well as associated services and data that circulate throughout the system. Finally, there is a worldwide regulatory regime that embraces various worldwide bodies, trade and technical agreements, and legal verdicts and ordinances.
Several autonomous television companies have graduate openings, which function on an individual corporation basis. These companies are likely to advertise on their websites, in the Broadcast magazine or in the local press. I attribute my appointment as an assistant floor manager for the evening magazine show to the fact that, the development of cable as well as satellite television has generated numerous opportunities throughout the entertainment and television industry. However, current trends in the field of programming may result into a reduction in the necessity for floor managers. In the event that opportunities crop up, appointments for the position of floor managers are made for every production on an ad hoc basis. Direct entry into the industry as a floor manager is rare and one should be ready to assume an administrative position in television to acquire understanding of the industry. In my experience in the television industry, I have come to realize that the broadcasting industry has a history of programs to promote professions in the industry to poorly represented groups, particularly ethnic minorities.
Current format programs. Working as an assistant floor manager I realized that it requires an extensive knowledge of every TV related job. In particular the jobs on the studio floor therefore armed with my training, I have been able to have a firm grip of numerous technical areas. In this regard I concur that my training also assisted me in developing my people skills that are fundamental when I would work as component of a team. I realized from first hand experience that, in format programs what is aired may be a new program fashioned in a different territory and employing the format of the original as a type of template that would facilitate in directing the remaking of the version.
For instance, the format for The Block (Channel Nine), an Australian-developed series transmits extensive information as well as advice for prospective producers in other locations on the globe. The format package contains financing guidelines relating to the costs of purchasing the property for makeover. Obviously, the elements included in a format package vary significantly depending on the genre, program, and time (Womack 49).
The legalities of production management and entertainment. The initial task in TV and entertainment production is to choose and initiate a business entity for the production. This is important regardless of the production. The rationale of creating and utilizing a business entity is to look forward to four principal areas. These areas include financing, control, taxation, and liability. Control entails to the way in which the producer plans to maintain and manage control of the project. This involves issues such as ownership of the intellectual property. It also entails ownership of the right of management of the financial, creative, and commercial aspects of the project. Financing entails the source of funds for the production including interaction with investors. Liability in this case entails the obligations accrued by the production as well as the producer’s individual liability for those obligations. Taxation refers to tax benefits. All these issues must be considered as a component of developing a Television project. In determining the appropriate entity for the project, I would engage the services of an attorney, accountant, or someone conversant with the burdens and benefits of each kind of entity (Bolter 350).
Cross platform consideration. In general, a core advantage of implementing a multi-platform method is the capacity to garner economies of scale as well as the scope. This means being able to switch content across several windows and for a longer duration of time. It refers to the extent to which several varieties of content and audience segments are more fitting than others towards exploiting on the interactive character of multi-platform digital circulations. The reaction of broadcasters to multi-platform prospects is persuaded by their status as public or commercial service entities. Cross platform or multi-platform distribution may contribute towards choice and diversity as well as promote standardization around popular and safe brands and themes (Womack 72).
Formats and Saturday nights Shows. As an assistant floor manager my role was to liaise and co-ordinate between the several people who were involved in any production. These would include guests such as the Director Mariam Al Sakrkal to the Show, the audience, and the presenters. I had to carry out a thorough research prior to bringing the director into the Saturday night show. This is because, as my job would entail, I had to ensure that events occur according to a stipulated plan. I also had to ensure that the participants understood their specific roles and how their roles fit in with the events taking place in the studio. I also had the responsibility for guaranteeing that all participants perceived the studio as a safe working environment.
A television program format refers to a set of industry resources and know-how that facilitates the production and development of a television program in another location and time. What may be marketed and disseminated is not a complete program but relatively a body of accompanying resources and knowledge that will assist in the remaking of a program. The format, subsequently, is a multifaceted, all-inclusive organization of materials which may guide and aid in the makeover of a previous version of a program. This is utilized to create a later version that would be more appropriate for a specific television industry and its domestic audiences in another location on the globe. The format program is created, developed and broadcasted in a single television market. Once this takes place, there is a prospect to authorize a re-broadcast of the program in different parts of the globe (Cury 201). The Saturday night shows may reach its audience better since the audience is more liable to understand if a narrative seems more applicable due to the manner in which it is told.
CONCLUSION
My advice for people who anticipate working in the capacity of floor managers is that, they may only pursue the career if they actually desire it. As is the case with a majority of media jobs, it can appear glamorous externally, but it is extremely competitive. It is highly probable that one may need to volunteer in order to acquire the requisite initial contacts. Through its accomplishment, Saturday night live fashioned a culture in which a Saturday night show like The Daily Show can survive and succeed and formulate the next advancement of the service that Saturday night live has and maintains to perform.
Works Cited
Bolter, R. Understanding Contemporary Media, Cambridge: MIT Press, 2009. Print.
Ivan, Cury. Directing & Producing for Television: A Format Approach, Elsevier Science, 1998. Print.
Womack, H. Building communication theories, Sussex: Waveland Press, 2010. Print.
In order to enhance formation of alloys and the strengthening of the mechanical properties of the aluminum alloys
Introduction
In order to enhance formation of alloys and the strengthening of the mechanical properties of the aluminum alloys, they are formed under a solidified process with temperatures below the melting point. The material is initially deformed over semi solid temperature as result of heat caused by the process of plastic deformation.
The tensile power, elongation, toughness and hardness of the alloys are achieved under the temperature that varies from 500 to 550 degrees. This is in comparison to the billets extruded under hot temperatures of about 450degrees together with the semi solid that is processed at 560degrees. The billet heat during formed is evaluated using the finite stimulation element. The tensile potency together with hardness of extruded billet at 550 degrees which is below solidus temperature that is high than the billet produced at around 450degree.
They are almost similar to the billet that is malformed at around 560degrees at a semi solid state at the same temperature. Cracking that happens on the surface extrudes the billet that is processed at high blow speed. The calculated heat that is applied to extrude the material in a semi solid state that is experimental because of the improved hardness. Volume production of cars commonly uses aluminum in the production of parts of the car. The different parts include engines castings, radiators, together with wheels. The general production of the cars is approximately around 5000 to 6000 chain of alloys.
It is also essential as it offers adequate strength that combines to make the parts resistant to corrosion, its toughness and ability to weld it. The reasonably low cost, ready availability and the light weight in density, the flexibility of the metal its structure and integrity and its easy nature to make into various forms and its uses has now widen from use in commercial vehicles, cars, marine freights, navy submarines, putting up of structures, and also to make military combat vehicles has made it a preferred choice in the automobile industry.
Conclusion
Use of aluminum in the transport sector is the preferred choice because of its light weight. It has been the major material for use in the aviation since time in memorial. The high strength is commonly used to build body trucks. Another series 2014 is used to make bolts and rivets. Some elements in this category can be readily joined together by welding and also gas. The other use of aluminum is building of aerospace materials like space crafts which are joined by gas tungsten. An alloy 2195 is the latest lithium that is used to make high strength elastic aluminum for use in outer space. Some applications which require tough fracture strengths varies from 2124,2324, and the 2419 that are all specifically made specifically to suit the aviation industry. With the absence of the aluminum alloy the aviation industry could face major setbacks. Other alloys like 2011 2017 are used to make fasteners. Other uses of alloys includes manufacture of heavy duty structures, underground storage tanks, truck tanks, booster tanks, rockets and vehicle railings. Aluminum alloy is commonly used in the automobile industry because it is much easy get. It is not easily corroded, it is very flexible, very light in weight, molding it into different shape is easy. Joining it is very easy as one can use gas, weld it together or rivets can also be used to bind the metal together.
Campbell, F. C. (2008). Elements of metallurgy and engineering alloys. New York: ASM International. Eskin, D. G. (2008). Physical metallurgy of direct chill casting of aluminum alloys. New York: CRC Press/Taylor & Francis. Farndon, J. (2001). Aluminum. New York: Benchmark Books/Marshall Cavendish. McQueen, H. J. (2011). Hot deformation and processing of aluminum alloys. New York: CRC Press