Unit 5 [MT499: Bachelor's Capstone in Management] Assignment\tDetails\tand\tRubric Please watch the technology video listed as Unit 5 Assignment video found in the Webliography tab (at the top of your course page) before starting your assigned paper. This assignment focuses on information management. In a four to five page paper, address the following areas: Please explain how you will be utilizing technology to make your business more effective and efficient. Explore the cloud technology concept. Discuss the importance of information technology planning and control processes to protect confidential information and prevent major loss of information. This section should address but not be limited to the following items: - Software packages you will use - Networks- Internal/External- Cloud technology - Hardware (PC/Laptop/Printer etc.) - Email/Instant messaging programs - Web Site - Disaster Recovery Plan Assignment checklist: Determine the information technology used in the business. Develop the information technology plan for managing and controlling information. Evaluate your plan for managing and controlling information. There are weaknesses in every plan. Make sure to point out any weaknesses and explain how you will address them. When you are ready, you may submit your paper to the Assignment Dropbox. *Note, include your name in the file name of the Assignment. Unit 5 [MT499: Bachelor's Capstone in Management] Grading Rubric Aspect Percentage of assignment Score MT499 Assignment Criteria Content, Focus, Use of Research 50% Paper addresses all assignment requirements, indicates depth of knowledge about the topics and key areas, contains a clear and concise introduction with a thesis statement, comprehension body of paper, closing summary, and includes a minimum of three cited and referenced resources (APA 6th edition). Analysis and Critical Thinking 30% Analysis and critical thinking indicates optimal reasoning with a defined purpose, based on assumptions, writer's point of view, discusses the advantages and disadvantages, and uses data, information, and concepts/ideas to address the assignment topics or key areas in the paper. Writing Style, Grammar, APA Format 20% The capstone uses the APA (6th edition) writing style using active voice, which is in third person and concisely written. The paper is free from incorrect punctuation, use of jargon/clichs, incorrect grammar and mechanics, and is correctly formatted based on APA 6th edition guidelines. Total Points 100% Running head: UNIT 4 ASSIGNMENT 1 Unit 4 Assignment Vikki Wise Prof: Ernest Norris MT499: Bachelors Capstone in Management May 11, 2016 Running head: UNIT 4 ASSIGNMENT 2 Introduction Because there are up and coming beauty spas all over Austin Texas Nu U Spa prides itself being different and providing its customers with their own custom blends of organic products and innovative Spa treatments. Nu U Spas staff works closely with its clients in order to make sure each of them leaves happy. Being caring and gentle is what makes Nu U Spa stand out from other Spas. Because Nu U Spa caters to women from all walks of life Nu U Spa knows how important it is to know the difference in each woman and service them accordingly. Not all Spas are open to individual creation they usually have a set list of product and treatment that they will not stray away from. Some Spas do not see the difference in people, they only know the difference in products, and their specific mix and use it to gage their clients Spa treatments. Nu U Spa treats all customers as individuals and has done its research in order to know how to individualize products and services for everyone who visits the Spa. Knowing its customers is how Nu U Spa has geared its marketing strategy, so it can draw the attention of individuals who are looking for quality services at a competitive and affordable price. Strategy and Implementation Summary Nu U Spas marketing strategy is the key to its success. \"One of the key elements of a successful marketing strategy is the acknowledgement that existing and potential customers will fall into particular groups or segments, characterized by their "needs". Identifying these groups and their needs through market research, and then addressing them more successfully than their competitors.\" (Create your marketing strategy. (n.d.). Retrieved May 16, 2016) Nu U Spa will get its companies name on the for front by directing its advertisement towards its organic treatments, brand names and procedures along with making a name for itself in the organic Running head: UNIT 4 ASSIGNMENT 3 market. The company will also emphasis on its location and concierge beauty service. Lastly, Nu U Spa will establish professional relationships with both vendors and other businesses in order to network and draw in new clientele. Market Strategy Prior to opening, Nu U Spa will advertise and promote the business via digital marketing. Digital marketing is the new wave and allows companies to reach clients that they cannot meet or reach otherwise. To reach millions of potential clients Nu U Spa will utilize all of the social media platforms like Facebook, Instagram, LinkedIn, Pinterest. Nu U Spa will also advertise locally by mailing out brochures at an ongoing fee of 100.00 per month, posting newspaper ads at an ongoing fee of 75.00 a month, and local radio advertisements at an ongoing fee of 500.00 per month, which will provide details of the spas products and services to local business, customers and potential customers to bring in more business. Networking and developing a professional relationship with other local businesses in the surrounding areas is crucial. Through Social Media Nu U Spa will promote and host an open house that will have a one-time fee budgeted at 2,500.00. The open house will serve several purposes which are networking, exposure, and to introduce the community to Nu U Spa and its staff. (Create your marketing strategy. (n.d.). Retrieved May 15, 2016). Partnering up with other local businesses who will sponsor their own party favors like barber shops, caterers, makeup artists, boutiques is essential to networking, gaining professional relationships and get more clients. Nu U Spa knows that building relationships are the catalyst for success. Gaining the trust of other business will bring the company referrals and recommendations which serve as a resource for success while building relationships (Strategic Business Network (SBN). (n.d.). Retrieved May 15, 2016). Nu U spa will Invite out all its customers and encouraging them to Running head: UNIT 4 ASSIGNMENT 4 bring friends and family, and the other business owners will do the same. At the open house Nu U Spa will have the opportunity to demonstrate its products and services on the locals which will give them the hands on experience of what to expect as a customer at Nu U Spa. Nu U Spa will also hand out gift bags with small samples of their products wholesale 1.00 each budgeted in at a onetime fee worth 500.00 for the guests to take home. This will allow them to try the products for future purchases and share them with their friends. Nu U Spa knows that word of mouth is an important strategy as part of their marketing campaign in order to gain new clients, exposure and create long-lasting impressions. Lastly, the company will have its own website which cost a onetime fee of 1000.00 to set up and an ongoing fee of 200.00 a month to run and monitor, that will provide customers with a virtual view of the showroom, list of pricing, procedures and organic products and brands and customer will also be able to schedule appointments. The website will allow customers to visit anytime of the day or night allowing them to view updates and changes. Having access to the shop without having to visit will give clients a personal connection with the Spa (13 Advantages of Having a Website for Your Business. (2013). Retrieved May 16, 2016). Marketing Plan Situation Analysis The client of Nu U Spa are majority females between the ages of 18 to 55. This group is part of the new health and fitness generation and works hard on maintaining a healthy lifestyle. This group is the company's primary market segment. Most clients choose to use certifiedorganic products because they are healthier and better for the body than using harsh chemicals (Why Your Skin Deserves Organic Beauty Products - Organic Authority. (2013) . Retrieved Running head: UNIT 4 ASSIGNMENT 5 May 17, 2016). Studies show that women ages 25-34, 43% prefer organic personal care products with natural organic ingredients and 37% at ages 50-64 (Research Conducted to Bridge Gap Between Natural Beauty Products & Beauty Consumers. (n.d.). Retrieved May 17, 2016). In order to reach these age groups, the Spa will advertise using brochures, business cards, Newspaper ads, along with Health and fitness Magazine articles. These advertising tactics will bring awareness to the public of Nu U Spas wide selection of natural and organic body products, makeup, and Spa treatments. Placing brochures and business cards in the local gyms and health food stores where these age groups frequent. Advertising at these designated place will catch the attention of advocate and occasional gym-goers as well as those who are into eating healthy foods. Doctors' offices and Hospitals will be another place to provide information about the company, there is where patients who have back problems, skin issues, and other health problems that can benefit from organic and natural spa treatment rather than using traditional. by leaving business cards and brochures they will realize there are alternatives. Newspaper articles and Health and fitness magazines will allow Nu U Spa to capture the attention of potential clients as well. Benefit of market research Marketing research is essential in getting to know the needs of your customers and potential customer. Researching allows businesses to gain insight from the consumer. Feedback allows businesses to plan accordingly and provide both their customers and potential customers with what they are looking for out of a product. Communication with customers also lets them know that the company is there for them and wants to make them happy. This is how businesses build a loyal clientele and gain more customers through positive references about the company (10 benefits of market research. \"Less risk is another benefit. Researching the location that will Running head: UNIT 4 ASSIGNMENT 6 best benefit the business and its clients. Companies want their business to be in areas that are profitable where their customers can get to them without any issues. Safety, parking, and location are some of the major issues that will cause a business to lose customers and fail. Research prevents this from happening and both business owners and clientele are happy (2012). Retrieved May 17, 2016). SWOT analysis Strengths Nu U Spa has many strengths because it is a holistic spa that provides its clients with innovative nontoxic products and procedures. All products are certified natural organic and do not pose any dangers to its clients or the atmosphere. Natural and organic products can be used on people with a medical problem as well without risk, which allows the spa to provide alternative treatments for is sick clients in order for them to take a break from the harsh chemicals they are used to. Anyone can visit the spa for treatments Nu U Spa takes its time to get to know its clients and cater to their needs to ensure their satisfaction. Nu U Spa prides itself in customer service. All of the Spas staff are experienced and are the best in their field, with certifications, and many years of experience to perform all spa treatments. Also, Nu U Spa has a great atmosphere, peaceful atmosphere, and is located in the center of Austin Texas at a location that is easy to find coming from any directions of the city. Weaknesses Weaknesses to running a spa are there are low profits and high expenses. The costly expenses that intel's running a spa are purchasing equipment and products as they run out or break down. The expenses of purchasing natural organic products due to them being more expensive than Running head: UNIT 4 ASSIGNMENT 7 traditional products. Also, the expense of keeping the staff paid at a level that they can live in this economy. What Nu Spa does to stay ahead of these issues is to constantly promote the Spa and bring in new clients. Making your customers happy is basically the key to keeping them coming back and promoting businesses by word of mouth. Each month the spa introduces a new product and hosts a party for its customers to attend. The new products always bring in additional capital that keeps the Spa busy and productive. Opportunities There are always new and innovative products to discover in the organic market. Nu U Spa has the opportunity to start its own product line on its own or with partnering up with vendors. Nu U Spa has its own brand and has done a lot to get its name out, so expanding into different areas of Texas will be a great opportunity to keep the name going. Also, because of being well known in the spa industry Nu U can start opening its Spa to holding bridal showers, mother and daughter days, and different parties to bring in new opportunities for the spa to make more money. Threats Competition can pose a threat, especially if its located in the same area. If the economy is low clients who do not have extra funds to visit the spa will stop coming and some may never return. If there are no clients the spa will lose money. Client time restraints can either cause clients to go to other Spas who are open different hours or they just might not patronize the spa at all because it does not work with their schedules. To rectify these threats, the spa will have monthly specials in order to compete with other Spas and their pricing, with a low economy the spa will offer 2 for one specials to keep clients coming so they can get more bang for their buck. Last, to Running head: UNIT 4 ASSIGNMENT 8 fix time restraints the Spa will stay open late twice a week for its clients who cannot make it in during regular hours. Action Plan Products Every six months the spa will introduce new mixes of creams and oils. Each product introduced will target a new healing remedy for all ages. The product jars and bottles will have a different color each time they are introduced so that they can be differentiated from the other products and will be recognized by the customers as the new item in the spa. All products though are mixed to the preference of the client can be used alone or added to other blends to cater to the needs of the client. A sample product will be provided with each new product purchased so that they customer can give it as a gift or carry it in their purse. Price All new mixes of creams and oils will be sold according to the jar size. Which are small jars 10.00, medium jars 15.00 and large jars 20.00. The stock will continually be filled until the new product is released the next six months, and after it will still be available. The prices of the products are competitive and are in the same range of the other competing spas. Unfortunately, at this time, the Spa is not selling its products wholesale but will offer discounts for bulk purchase. Running head: UNIT 4 ASSIGNMENT 9 Place The new products will be released online and in the spa during the release party. After it has been made available it can be purchased in both places. Because Nu U Spa is a local spa it can only be purchased directly from the spa and from its website. Local businesses who allow the spa to display its products as a networking tactic can sell the display. Promotion Every six months the spa will host a promotion party for its new products. To make the customer aware of the new products flyer will be handed to clients and surrounding businesses to bring awareness of the promotions party. Prior to the promotion date, there will be a video playing in the lobby for all of the clients to see that will be hyping up the up and coming promotion party that will let the clients know to bring friends and family and that there will be prizes handed out. Between word of mouth, brochures, and video reminders the word will spread quick about the promotion and will surely bring in guests new and current. Conclusion Marketing plans are essential to start and be successful as a business owner. Market plans guide you to reaching your business goals. They allow you to be proactive in making the right decisions for your future business. Having a market plan also helps if investors are needed to assist in a startup. Investors will be looking for a good marketing plan that lays out all of the aspects of the business, so they can determine if it will be a good business to invest their money in. Seeing your plans for our business all laid out will bring courage to go forward with it and turn it into a great success. Running head: UNIT 4 ASSIGNMENT 10 Resource: Article Title: Create your marketing strategy Website Title: Create your marketing strategy URL: http://www.infoentrepreneurs.org/en/guides/create-your-marketing-strategy/ Article Title: Strategic Business Network (SBN) Website Title: Strategic Business Network URL: http://www.strategicbusinessnetwork.com/about/importance Article Title: 13 Advantages of Having a Website for Your Business Website Title: Dogulin Digital URL: http://dogulindigital.com.au/advantages-benefits-website-for-business/ Article Title: Why Your Skin Deserves Organic Beauty Products - Organic Authority Website Title: Organic Authority URL: http://www.organicauthority.com/delicious-beauty/skincare-organic-beauty-products.html Article Title: Research Conducted to Bridge Gap Between Natural Beauty Products & Beauty Consumers Website Title: Skin Inc. URL: http://www.skininc.com/spabusiness/trends/Research-Conducted-to-Bridge-GapBetween-Natural-Beauty-Products--Beauty-Consumers-261844441.html Running head: UNIT 4 ASSIGNMENT Article Title: 10 benefits of market research Website Title: Happy Creatives Blog URL: https://happycreativeblog.wordpress.com/2012/06/29/10-benefits-of-market-research/ Article Title: What Is a SWOT Analysis? Website Title: SpaBoom URL: http://www.spaboom.com/what-is-a-swot-analysis/ Article Title: The Marketing Mix and the 4 Ps: Understanding How to Position Your Market Offering Website Title: The Marketing Mix and the 4Ps of Marketing URL: https://www.mindtools.com/pages/article/newSTR_94.htm Article Title: Why Is a Marketing Plan Important for a New Business? - Next Avenue Website Title: Next Avenue URL: http://www.nextavenue.org/why-marketing-plan-important-new-business/ 11