Start-up Visante

Abstract

Selecting effective business strategy to enter a market is getting harder and harder, especially for startups, as consumer demand becomes stricter and cautious. The effectiveness of advertising, promotions, and the sales force has declined; it is more difficult for innovators to rise above the mass of information from competitors; and only customer service appears to make a difference. Setting up a strong marketing plan now requires taking several important steps, one of which is putting the customer at the center of your business's issues. Being customer-focused involves continuously assessing the potential impacts of decisions on clients and putting this process at the center of all decision-making processes. Businesses that embrace a customercentric strategy are 60% more profitable than their competitors, according to a Deloitte & Touche report (2017). The customer must be the center of attention since they set the tone for the entire business. Following that perception, this thesis presents "Start-up Visante" as a business plan for a Vietnamese diabetic specialty retailer to open in Hanoi with two major aspects: wide range of diabetic products and distinct service quality. When market demands increased, this idea was created. After conducting extensive market research, we determined that our idea is both necessary and attainable. With the responsibility of bringing diabetic services to the community, considering customer satisfaction as our priority, we are willing to serve this model and take the risks because of its humanity and rationality. To be successful and reduce risks, we must create a plan that includes evaluating market opportunities, market analysis, marketing strategy, and financial analysis. This business plan would be written in the most practical way possible.