COMBINED BUSINESS STRATEGY IN COASTAL AREA AFTER COVID-19 SITUATION: A CASE STUDY IN COX’S BAZAR
Open Access
- 6 March 2021
- journal article
- Published by Maya Global Education Society in International Journal of Students' Research in Technology & Management
- Vol. 9 (1), 01-14
- https://doi.org/10.18510/ijsrtm.2021.911
Abstract
Purpose of the study: The purpose of the study is to set up a restaurant business in Cox’s Bazar in this Covid-19 scenario with a low budget and providing premium services. People's purchasing power has been decreased due to this situation and they demand to get premium services at cheaper prices. Methodology: A market analysis has been performed as well as the present situation has been studied. A proper business plan has been setup with the layout of the restaurant. Main Findings: It has been found that a better amount of profit can be achieved by satisfying the customer with lower price than the present competitors. It also has been observed that combining more than 2 businesses will help to achieve the profit margin in quick time. Customer satisfaction is also high in this type of strategy. Applications of this study: New entrepreneurs made enough observations to create their new business model which will help them to make this business profitable. This model is an ideal model for a start-up business with a low budget. Novelty/Originality of this study: As the real-time study has been studied and the real situations have been considered, this study will be helpful for the new entrepreneur.Keywords
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