Please give ideas on how to answer the follow discussion. Prepare the Work Breakdown Structure (WBS) for your project and list as per the format in...

Please give ideas on how to answer the follow discussion.

• Prepare the Work Breakdown Structure (WBS) for your project and list as per the format in Figure 4-15 Sample WBS in page 136 of the textbook.

Project Proposal

Introduction/ Background

Forbes Automobiles(Fictitious) manufactures and sales automobiles. Forbes Automobiles produces an extensive range of mainstreams cars, trucks for domestic and international consumers. Forbes Automobiles has been around for ten years and needs a huge promotion/advertising boost to increase the sales of its vehicles to gain competitive edge to remain relevant automobile industry.

Business Objective

The goals and objectives of the of the advertising plan is to increase in growth, sales and performance levels in terms of increasing overall company revenues and image. Marketing objectives leads to the increased sales if they are clear and understandable.

·        Capture at least 25% of market share for vehicle in defined Target market

·        Create new motto and vision statement

·        Create awareness among target audience. Use excessive advertising especially using media preferred by the target market. (social media, television, radio and billboards)

Current Situation and Problem/Opportunity Statement

The present situation is that the business is still in its initial stages of growth and is less encounters the challenge of remaining relevant in the automobile industry. Its level of competitiveness is low and customers are more likely to prefer motor vehicles supplied by other businesses. However, there is the opportunity of the ability to remain operational and achieve high revenues due to an increase in the popularity of motor vehicle sales industry. Furthermore, many people are purchasing vehicles for purposes such as managing business operations and personal use.

Analysis of Options and Recommendation

An example of an option that can be pursued by the company is to conduct research and development to improve the current slogan and vision statement to something more likely to be relevant in accordance with the current consumer preferences. Another option is to launch a huge promotion/advertisement plan through social media, radio, billboards, and major events throughout the nation. The recommendation is to build a more effective business identity. Creating a consistent business identity solidifies a company's image. A business identity is made up of all the visual elements that establish and reinforce its brand: logo, stationery, web design, marketing materials, signs, and more.

Financial Analysis

The cost of this project is estimated to be 5 million. 3 million for advertising cost, 1.5 million for promos cost and 1.5 million for sponsorships. It is expected that the company will need to operate for at least one year before its revenues equals investments. Consequently, the first year of operation will not have a negative net profit but it is expected that in the second and subsequent years, profits will increase as the company gains market share and customer loyalty.

Part 1: Business Proposal

Introduction/ Background

Forbes Automobiles(Fictitious) manufactures and sales automobiles. Forbes Automobiles produces an extensive range of mainstreams cars, trucks for domestic and international consumers. Forbes Automobiles has been around for ten years and needs a huge promotion/advertising boost to increase the sales of its vehicles to gain competitive edge to remain relevant automobile industry.

Business Objective

The goals and objectives of the of the advertising plan is to increase in growth, sales and performance levels in terms of increasing overall company revenues and image. Marketing objectives leads to the increased sales if they are clear and understandable.

·        Capture at least 25% of market share for vehicle in defined Target market

·        Create new motto and vision statement

·        Create awareness among target audience. Use excessive advertising especially using media preferred by the target market. (social media, television, radio and billboards)

Current Situation and Problem/Opportunity Statement

The present situation is that the business is still in its initial stages of growth and is less encounters the challenge of remaining relevant in the automobile industry. Its level of competitiveness is low and customers are more likely to prefer motor vehicles supplied by other businesses. However, there is the opportunity of the ability to remain operational and achieve high revenues due to an increase in the popularity of motor vehicle sales industry. Furthermore, many people are purchasing vehicles for purposes such as managing business operations and personal use.

Analysis of Options and Recommendation

An example of an option that can be pursued by the company is to conduct research and development to improve the current slogan and vision statement to something more likely to be relevant in accordance with the current consumer preferences. Another option is to launch a huge promotion/advertisement plan through social media, radio, billboards, and major events throughout the nation. The recommendation is to build a more effective business identity. Creating a consistent business identity solidifies a company's image. A business identity is made up of all the visual elements that establish and reinforce its brand: logo, stationery, web design, marketing materials, signs, and more.

Financial Analysis

The cost of this project is estimated to be 5 million. 3 million for advertising cost, 1.5 million for promos cost and 1.5 million for sponsorships. It is expected that the company will need to operate for at least one year before its revenues equals investments. Consequently, the first year of operation will not have a negative net profit but it is expected that in the second and subsequent years, profits will increase as the company gains market share and customer loyalty.