Read the below business daycare business plan and answer the following questions with relevance to the description given in the question. 1) Target market and their wants/needs

According to a December 2018 report by IBIS World (market research), the daycare market for Canada earned a revenue of $9 billion from 40,881 businesses, implyingeach business to have earned an average annual revenue of $220,151.17 (Ontario Daycare market). Ontario has the highest gross domestic product for early learning and childcare of 6,114.3 million dollars (2016)(Statistics Canada, 2021).

35% of Canadian children aged 4 to 11 years participated in any form of before- or after-school, non-parental child care. Of children in any form of child care, 60% attended a before- or after-school program, 16% were cared for by a non-relative in a private home (mainly due to unavailability of spots in daycare centres) and 12% attended a daycare centre (Statistics Canada, 2021)^.

2) Products/or services offered to the selected market

Ontario is one of the most MultiCulture places in the world. Many people choose to live there due to the high availability of jobs and education. This creates a demand for childcare services to meet this increasing essential need. Childcare services:

• Daycare for kids aged 6 months to 4 years
• Before-and-after care (age 4 to 11 years)
• School holidays (PA days, Christmas break, March break age 4 to 11 years)
• Summer Camps (age 4 to 11 years)

3) Competition for target market (Day care centres in Toronto)

(a) YMCA Child Care Programs (b) ABC academy

(c) Bright Minds Childcare (d) Bright Path Academy

(e) Boys & Girls Club (f) 100+ Toronto daycares

Questions: 1. Determine the company positioning strategies. Requirement: An important part of the marketing strategy is to determine the position of your product/service offering. This is an important decision in differentiating your offering from the competition. i.e. how will you offer to stand out and attract the customers to come to your company instead of going to your competition?

2. Develop a marketing plan - Each element must be supported by at least 2 strategies Requirement: In addition to the business strategies you developed in answering question 5, you need to develop a marketing plan that will help your company present its products/services to potential clients and differentiate your product/service offering from your competition.

For products: you need to clarify your product features, price and pricing strategy, how will you promote it to your potential customers, in which part of the city, will your business be located to make convenient to your potential customers to do business with your company.

For services: In a service business, you sell your team knowledge and experience, therefore, you need to mention at least some key skills your team will have, your business processes which your customers will follow and how easy it is for your customers, and how can you proof the quality of your work to potential customers.

1. Product/Service: description, differentiating features
2. Price: to be charged for such a product and/or service
3. Place (or location/distribution): how will you reach your customer
4. Promotion: How will your customers know about you
5. People: their knowledge, skills, and talent
6. Process: which primarily focus on smooth operations and customer experience
7. Physical Evidence of Quality: it is important to prove to customers that they will have quality product/service