BSBMKG501 Identify and Evaluate Marketing Opportunities - Marketing Opportunities Report - Assignment Help

In context to the last meeting held on the marketing opportunities, this report will share some more detailed insights on the selected viable marketing opportunities the report will highlight all the necessary details for all the selected opportunities separately. 

1. Expansion of business in San Francisco

Firstly we would reflect on the alignment of business goals and objectives with the expansion of the business. 

• The overall benefit of this expansion is to cater to an emerging market of the millennial that are either entrepreneurs or linked to the technology business in Silicon Valley. This expansion can help Titicus increasing clientele, reputation, profits and eventually a future opportunity to expand even further. 
• The anticipated effect of this expansion would be that Sales would be increased by 15%, profitability would be expected to be increased by 20%, with a growth of 20% and attaining additional 8% of the market share. 
• Additional funds of around a total of 500,000$ would be required which will be allocated on the purchase of an office rental value to be estimated at $15,000 per month, hire 5 staff members in the first year with total staff expenses around $ 35,000, office equipment worth $60,000, marketing material worth $150,000 and an event which would cost $30,000 which will help introduce our company in San Francisco.  Rest of the budget is to run day to day operations.
• The estimated effect on return on investment for this expansion is to be around 15%, and improving over the years. The market potential is greater than the risk involved in this investment by capturing only 5% market share we would stand at a break even on our investment as the household prices and commissions are high as compared to southern Connecticut. The expansion is required at this stage as it is in the growing stages; the opportunity cost will be high.
• The market leaders and potential competitors would be Compass, Zephyr Real Estate, and Relocation Breakthrough
• The negative impact on the economy of technology sector can greatly impact this business opportunity as the target customer is from that sector, stagnant growth can affect the housing industry of San Francisco.
• San Francisco is the hub of technology, many competitors can arise using techno based concepts as the customer there has a deep understanding of the use of technology, attracting them could negatively impact our marketing opportunity.  
• There are no legal issues associated with this expansion as the housing laws are similar in both the suburbs.
• The most major risk associated with this opportunity is to train the staff accordingly; the current market research indicates that the nature and the working conditions of the agents do not match our culture of building a trust relationship with our client. Building the same culture which leads to customer satisfaction will be the biggest task and risk associated with this expansion.