UY, MIA FE

ACC 223 SUMMER

BUSINESS PLAN EXPLANATION

To engage with the customers market, YIFU uses its own marketing mix,
sometimes known as the 4Ps. The 4Ps are a set of measures taken by them to develop.
It helps in ensuring that the business can be able to provide the right product, at the right
time, at the right place, for the right price to your customers. YIFU utilizes a combination
of these marketing mix elements to get the desired response from their target market.
The business plan for YIFU performance of the organization in identifying some key
business aspects, such as what customers expect from them, how their products meet or
failure to reach those needs, how their product is regarded in the market, how they
differentiate themselves from their competitors, and how they interact with their
customers.
The goal of YIFU is to provide products that flatter the female Baby Boomer image
at cheaper and reasonable prices. The product range is composed of the latest fashion
trends, stylish classics, and simple basics. These include chic blouses, puff sleeves tops,
cropped tops, dresses, pants, bags, accessories, and sneakers. YIFU will make sure that
the products are suitable for their customers. So, developing an effective marketing mix
for their products start with understanding the Ps of Marketing.
Sources of financing is like a fuel to the growth of every business. When a
business begins to grow, funds is required. Since YIFU is a start-up business, YIFU needs
finance in order for them to take actions to their goals and plans. Sources of financing will
help the business to make sure that it has enough funds to operate. These sources will
keep YIFU runs smoothly without running out of money. In this business plan, YIFU have
already ₱500,000 since the owner of this clothing shop received it as a recipient of the
grant. These start-up funds will be used for inventory and expenses such as rent,
insurance, salaries, utilities, miscellaneous, and depreciation. A small portion of its
investment will be used for online advertisement. Furthermore, most of the initial
investment will be utilized to purchase retail equipment which will assist the clothing shop
in the future. These funds will help YIFU’s progress and to improve its financial
performance.
 Every time a business is created, it gives the society innovations and opportunities.
These innovations and opportunities created by the business can affect the society.
Another way that YIFU may benefit society is by addressing one of their needs. As a
community develops, the demand for more exciting products and services grows with it.
With YIFU's approach, it may be able to drive the consumer society by offering valuable
products to people who are most likely to become customers. YIFU's strategies will create
economic stability and growth. Increased sales for a business that uses effective
marketing methods lead to expansion, tax revenues for the governments, and, eventually,
economic growth. YIFU may also create jobs, boosting the economic health of the society
where they are located.