Overview
Scenario
The motivational plan you have created for your business has managed to keep employees engaged, and management is seeing higher morale and more positive interactions with customers. This new energy around the workplace has improved sales and provided even more opportunities to customize your food truck. Remember, you will be submitting two files each week. The first will calculate your revenue, expenses, and net income. The second will make strategic choices for how to run the company.
Instructions
Part 1
To complete the Weekly Cash Flow Statement:
- Enter any money you saved from last week in "Previous Week's Ending Cash Balance".
- Enter the number of points you earned from last week's assignment in the "Points Earned from Last Week's Project Assignment" column.
- Pick and choose how to upgrade your food truck from the options on the right and enter them into the expenditures portion of the income statement. Be sure not to spend more than you have.
- Answer the question to explain your purchases and the reasoning behind them.
- Save the file and upload it along with your work from part 2 of the assignment.
Part 2
In a professionally written Word document, address the following bullet points:
- Identify the target market for your product using at least two segmentation types and provide a description. Clearly label each of your two segmentation types as either demographic, psychographic, geographic, or product-related (suggested length - 1 paragraph).
- Explain why your two segmentation types were chosen and describe specific benefits that your product provides to each group of people (suggested length - 2 paragraphs).
Create a social media advertisement.
- Visit www.canva.com (or some other similar site) and create a free account.
- Choose "Create a Design" and pick the "social media" template.
- Design an ad that will appeal to your target market using the benefits chosen earlier. The design should include at least: the name of your food truck, one image, one background color, and one slogan/value proposition that includes two benefits.
- Download your design and insert it into your Word document.
Your two biggest competitors, Burger Bar and Sweat Retreats, are already getting a lot of attention online. Below are the ads they have released. Don't let them steal your customers away!