Objectives Act As A Guide For A Business

2180 Words Oct 30th, 2014 9 Pages
An organisational objective is important element in any business plan, as these guide management of business in decision making. To create achievable objectives, business needs to understand where they are, where they want to go. The objectives must be specific, measurable, actionable and achievable. Objectives act as a guide for a business. The Healthy Happy Foody will have following objectives
• Achieved revenue of $300,000 within 6 months;
• Profitability of more than $75,000 within 6 months;
• Customer satisfaction should be more than 90%;
• To be recognised as one of the top cafes in ACT in coming years.

Product concept: The total product concept refers to the bundle of services offered by a product/service. For example, total product concept of Healthy happy foody is all the benefits customers will receive by using the product. These benefits are fresh and healthy food and exceptional customer services one will receive while using their product.
The total product concept is used by customer to evaluate the different businesses by distinguish the benefits of product and selection of the product which provides maximum value for their money (Elliot et al. 2012, p.216). For businesses, this concept can be used to differentiate their products from competitors and will enable them to create a unique position in the market.
The total product concept can be analysed using four levels: Core product, Expected product, augmented product and Potential product.…
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