Types & Sources of Finance
Introduction to Break-even Analysis
The business world is consistently becoming more harsh and competitive as more and more new entry is evident in this world. In order to survive in this cut throat competition the business communities constantly plan new strategies, which help them to avoid the competition and keep them ahead of their competitors. In the undertaken case study it is observed that Maria has a dance studio in Norwich, Norfolk. This dance studio is situated in the central part of the Norwich city. Besides dancing, this studio provides various physical activities such as aerobatics, gyms and sauna. Norwich is a small city and population of almost 230000. So the scope of finding the target customers is enough. Rather than this, Norwich city is connected with almost all routes of the country. But in case of expanding the studio, other areas surround the Norwich city are preferable and recommendable. The studio consists of two large rooms. Besides this, three medium room for changing, one large storage room and office room including reception area. The studio adopts some marketing strategies to enlarge their dance studio. The main aim of the studio is to provide warm and supportive environment and service that can attract different people on the basis of cultures, communities, ages and interests. Now, there are many dance classes surrounds Norwich city. So the studio has to take some adequate steps to attract the new or upcoming customers. The studio has to promote their dancing studio through different marketing techniques such as promotion, advertisement, digital hoarding media etc. Maria dance studio provides smoke free area as well as full of greenery environment. Since the last five years, Maria dance studio experienced 20% growth rate each and every year. A proper market plan depends on the flexibilities and qualities of the services. As evident from the location of the studio, it is situated at one of the most significant and important position of the market. As a result it is convenient for all the people to attend the classes easily. Moreover there are many other studios associated with culture and literature. As a result it will be easier for the people to find the location. As a far as competition is concerned because of the location, the type of dance lessons that Maria is giving is itself a unique one. So it is expected that she will be able to grab the attention of people interested with the art.