KATRINA'S FLOWER BUSINESS

Katrina's flower business

Katrina's flower business

Launching a business can be complicated if it is not backed with adequate preparation and a comprehensive understanding of the market. This paper will attempt to highlight the mistakes Katrina made before going into business as well as the Activities that could have called attention to the shop. The paper will also draw attention to the activities that could have called attention to the shop and other flower shops perception of Katrina's flower shop. By doing so, the paper will elaborate on the utility of a business plan and the business principle that Katrina overlooked in the launching of her business. The paper will come to a concluding note by shedding light on the business climate of the market.

With regard to the mistakes Katrina made before going into business, the most critical mistake that Katrina made before going into business was to make use of the recommendations she got from her friends and relatives instead of seeking consultation from a professional consultant. By failing to seek guidance and advice from a professional consultant, Katrina was unable to acquire a clear and real picture of the market and her prospects of success (Lownes-Jackson 2004, 33). Had she acquired the services of a professional consultant, her approach towards her entry into the industry would have been significantly different. In addition, she would have been able to recognize and respond adequately to market trends.

Another mistake that Katrina made before going into business was that she did not look into a sound pricing mechanism for her products. Her experience was limited to her expertise in floral designing and she had no business experience. Hence it was extremely necessary that she acquired professional help regarding her business' characteristics.

With regard to the activities that could have called attention to the shop, Katrina could have made use of her expertise to perform floral work around the city free of cost. This would have increased the popularity of her floral arrangement abilities while giving her a chance to boast about and promote her business. She needed to establish a rapport with potential consumers before opening her shop. She could have used the local newspaper to communicate with the local public and to increase awareness regarding her products and services.

An evaluation of the case study reveals that the measures that Katrina's competitors took in preparation of Katrina's entry into the market were those ...