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Eddy's Enchanted Elves Having been stuck at home for the last few months, your friend Eddy is excited by a new business idea. He asks
Eddy's Enchanted Elves Having been stuck at home for the last few months, your friend Eddy is excited by a new business idea. He asks for your feedback on the sales section of his new business plan. Eddy's Enchanted Elves are a collection of animated zoom backgrounds which all have different scenes of elves hard at work making Christmas presents. Whilst other animated backgrounds are just a few seconds long, the Enchanted Elves backgrounds run for a full hour, so will provide an interesting background for even long zoom meetings. Whilst most animated backgrounds are free or less than $5, the Enchanted Elves will be positioned as a luxury item, however, and will sell for $10. Whilst more than other backgrounds, $10 is well within the range of an impulse purchase by the average zoom user, who is estimated to spend $30-$50 per week on non- essential items. Eddy's Enchanted Elves will grow primarily via word of mouth, as people notice the backgrounds of their colleagues and ask how they can get one. Required: a) Define the 'Four P's' of a sales plan and briefly state how each applies in this case. (2 marks) b) Provide four (4) comments as to the strengths and weaknesses of the above sales plan. Your comments should include at least one strength and one weakness. (4 marks) c) Provide two (2) recommendations for improving the plan AND two (2) low- cost ways that the business idea could be tested before launching. (4 marks) Please provide your answers in the following space. Label your answer to each part clearly
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