Wedding Mart: Submitted To: MD. ANWAR HOSSAIN Acting Principal Dhaka City College
Wedding Mart: Submitted To: MD. ANWAR HOSSAIN Acting Principal Dhaka City College
WEDDING MART
Submitted To : MD. ANWAR HOSSAIN ACTING PRINCIPAL DHAKA CITY COLLEGE
Date: 30th March, 2010. To Professor MD. ANWAR HOSSAIN Principal Dhaka City College, Subject: To submit the assignment on WEDDING PLANNING.
Dear Sir, We respectfully state that you have assigned a report on the topic on WEDDING PLANING .To prepare this report we have given our best effort.
may have some lackings, limitations and errors in this report. We are very much grateful to you for giving us the opportunity to find out and gain knowledge on the aspect. Preparing this assignment is an experience for us in our practical life. would like to think for providing us with such opportunity. We
Signature .........................................
ACKNOWLEDGEMENT
All praise is for Almighty Allah. We are grateful to him , in all regards ,here we thank the almighty that he gave us the ability to prepare this report . We want to thank our honorable principal MD. ANWAR HOSSAIN and Coordinator Mr. HAFIJUL ISLAM. We are grateful to our supervisor MUMTAHINA ISLAM We also thank to our guide teacher MD. SOHEL AHMED who helps us use to create such a report . it is necessary to know the relevance between theory and practical knowledge as well. So , a student can only claim himself of true knowledge , by virtue of preparing such kind of report . It is with the affection and appreciation that we would like to thank everybody who work extremely hard and help us quite a lot . We are very grateful to our honorable teachers. Many event management companies help us to collect data and provide us much important information. Last of all but not the list is our team members. We work very hard for this report. We went so many places and work heart and soul for giving the best sort.
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ID No. 21 22 23 24 25 26 27 28 29 30
EXECUTIVE SUMMARY
Marriage is a very important part of every peoples life. Now it has become a trend to organize the marriage in different and exceptional way and Wedding Mart is here for those people who want to keep their wedding memorable. Wedding Mart is a partnership business that has ten members. Our organization has three branches situated in Gulshan,Dhanmondi and Baily Road. We have the sense fresh, new and original ideas that will ensure the event we organize is successful , unique and memorable. With our young and creative minds, we always ensure that we bring out outstanding events that are really distinguished from other events of the same field. Now there is no business like Wedding Mart which selling all the items required for the marriage as well as providing service pertains to the marriage such as organizing the marriage, decorator service, photography , DJ service etc under one roof. We are also providing parlor service to the customers on a contractual basis. We also have our specific pricing method and payment method and attractive discount
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as well. We have three packages, these three package prices will be determined along with location or venue, time and days we will get to arrange it etc. The price of our 1st package is 600000 Tk., 2nd one is 500000 Tk., and the 3rd one is 400000 Tk. As our social responsibility we help acid affected and physically handicapped people by employing them .We also promote social awareness against dowry. To maintain proper image of a product we have to consider many factors such as costs discounts freight, make-up etc. For a product we have researched market, analyze competitors prices of product and select a fear price that consumers can pay satisfactorily.
INTRODUCTION
Wedding Mart is a shop where we will provide huge collections, event management and all types of wedding related services to clients. We will provide dresses for both bride and bridegroom on order basis as well as on contractual basis. There will be the provision for purchasing all bridal cosmetics to ornaments. In the event
management program, we will provide the Wedding Ceremony Program on discount basis as well as we will sell materials which are needed to arrange a wedding event. Primarily we are targeting only the Muslim and Hindu religions for providing our products and services as in our country most people belong to these two religions.
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But in near future, we will come up for other religions as well. Our business comprises different sections of product and services. People can easily choice product from the huge collection whatever they need according to their budget, lifestyle or their intention and we assure them that they will be also benefited by all types of wedding related services provided by us. It is totally a new concept where we have mainly focused on serving those customers who want to make their wedding event memorable with exclusive wearing materials along with exclusive services. Therefore we have developed our slogan in this way-
Objectives
There are some objectives of our company. these are 1. To broaden our Market of Country Goods 2. Creating Employment opportunely 3. To Develop our Marketing Facilities
4. To Sell in a Favorable Price.
Methodology
We have primary and secondary data sources to prepare this report. To collect the primary information We had to prepare questionnaires and also to visit the shops to obtain information through oral interviews. This report has been prepared maintaining following steps:
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and historical
2. We have gone to visit BD Wedding Event to Collect their Marketing and Financial Information through oral interviews.
3. We got our information from our teacher and by internet. We
tried our best to put our best effort to make the report effective and informative.
Limitation
We face some problem to prepare the report. The hinder we have faced. The hindrances are: 1. We dont get enough time to ready the report properly. 2. No primary data is available or easy collectable.
3. Access to the necessary data source was very difficult
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INDUSTRY Background
Wedding Mart is a shop come event management organization that has grown from a wedding planning concern .Since its commencement in 2010 , this venture has spread ,verified and combined in its quest to enhance corporate value and customers as a
INDUSTRY History
We the ten friend of the Group. We the owner of wedding Mart. Now there is no marriage
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Business like us who is selling all items required for the This is absolutely a new Business Concept in Bangladesh.
VISION STATEMENT
In three years Weeding Mart will be established in Dhaka city and the expansion plan will be developed to expand in other parts of the country to meet the growing demand of wedding products and event management services together.
MISSION STATEMENT
We, the employees and management of wedding Mart, make this pledge to you, our valued customers:
the growing demand of our target customers We pledge that we will provide service to organize wedding
GOAL
To achieve our vision is our main goal and we can achieve our vision. We will provide the best service. We will establish our branch in every district of BD.
UNIQUENESS
This is one of the New Business in Plan and Wedding related all Services Bangladesh which provides only Wedding
Multiple Facilities
Wedding Mart offers a multiple facilities to their
customers like parking facilities, trial room facilities, washroom facilities etc to make the customers shopping pleasant and memorable. Along with providing diversified products and services, Wedding Mart also offers multiple facilities to the customers who come for
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shopping. We provide many facilities like parking facilities, trial room facilities, washroom facilities which will make the customers to do the shopping comfortable and the trail room facilities which will allow them to chose their products perfectly .It uniqueness of our business. is a
Organization Structure
CEO
MD
Financial Manger
Marketing Manger
Operational Manger
Advisor
Assistant Manger
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Office Assistant
Supervisor
Labor
FORM OF OWNERSHIP
We
partnership organization under the Partnership Act 1932 and our main office is at Gulshan. We will share equal rights in operating the business because we provide same amount of investment to form the organization. We will realize equal profits and loss through the year end operation of business. If there is any loss we will equally be liable to our creditors and debtors. There are no forms of majority or minority of partnership. If there is any disability about the partnership business that will be realize by the Partnership
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Act
BOARD OF DIRECTORS CEO MD FINANCIAL MANAGER ADMINISTRATIVE MANAGER MARKETING MANAGER OPERATIONAL MANAGER
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SHARE HOLDERS
Members
1.Md. Fahian Tamim 2.Lucy Purobi Palma 3.Bushra Munira 4.Shafique Hasan 5.Md. Raiyan Khan 6.Ishrat Jahan 7.Mahmuda Yasmin 8.AnikaTahsin 9.Mohammad Fazlay Rabby
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Amount of Share
10% 10% 10% 10% 10% 10% 10% 10% 10% 10%
LOCATION ANALYSIS
provide our services to all of them and earn our profits properly .
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SERVICES
RELATED FACILITIES
Wedding Dresses
For Women
Almas Aarong
For Men
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J ewellery
Cosmetics
Wedding Shoes
Photography
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Cost of services
Name of Event packages outdoor Weddings and Community Center Weddings 1. Contract with community Center. 2. Contract with the food suppliers 3.Even and outdoor wedding Engineers 4.Lighting expenditure 5.Transport and Photos and videos Resident Weddings 1.Contract with the food suppliers 2. Even and outdoor wedding Engineers 3. Lighting expenditure 4. Transport and Photos and videos
Ingredients 1. Contract with community Center. 2. Contract with the food suppliers 3. Even and outdoor wedding Engineers 4. Lighting expenditure 5. flower shops and suppliers 6. Transport and Photos and videos COST 600000
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500000
400000
In our business we have arranged a collection of emitation, metallic, silver, oxidize, stone based ornaments. We are keeping catalogue, designs, and samples of normal and gold jewelry for taking order and make contract with different jewelry shops. So customers can effortlessly come in our shop, select design and give an order of particular ornaments.
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Market Segmentation
Market segmentation is a very important factor for all new business. Market segmentation is the identification of portions of the market that are different from one another. Segmentation allows the firm to better satisfy the needs of its potential customers. This part is significantly important for preparing our marketing plan. We will segment our market based on the following variables:
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Needs Profilers:
Geographic Demographic Psychographic Behavioral
Geographic Segmentation:
Geographic segmentation is based on regional variables such as region, climate, population density, and
population growth rate. We will mainly target the higher class and the urban people as most of our products are branded and designed products. Thats why primarily we will launch our
office in Dhaka and Dhanmmondi. Also in future we have a plan to expand in Uttara and Bailyroad and other part of the Dhaka city.
Demographic Segmentation:
Demographic segmentation is based on variables such 56 as age, gender, ethnicity, education,
occupation, income, and family status. As we said we are mainly targeting the higher class people. So their income level should be very high. Also we will be focusing on the business people as well as other high ranking job holders. Education level of our target customers is a very important factor but it does not apply to all class people as it will allow them to go for the high quality products even if they are very expensive. We will collection for both men and women wedding things. So are targeting the both. Age limit for our target customers is 20-40 years but its not that other this age limit others can not come and do shopping at our shop. At last but not the least we will be targeting mainly Hindu and Muslim. But other religion people is always well come to our shop.
Psychographic Segmentation
Psychographic
segmentation
the
division
of
heterogeneous market into relatively homogeneous groups on the basis of their attitudes, beliefs, opinions, personalities and lifestyles; sometimes called "State-of-Mind" Segmentation. We will also segment our market on the basis of Psychographic factors. We will be targeting the high class people with a belief that high quality and designed marriage products can be very expensive and they are ready to buy excusive marriage products to make the wedding memorable. So our target customers have to have the mentality and lifestyle to buy all the products from one place where they can get all the marriage items and other services like marriage
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event management in a very family environment with a high class car parking facilities.
Behavioral Segmentation
Behavioral segmentation is based on actual customer behavior toward products. It is based on variables such as usage rate and patterns, price sensitivity, brand loyalty, and benefits has the sought. advantage Behavioral of using
segmentation
variables that are closely related to the product itself. It is a fairly direct starting point for market segmentation. We are targeting high class people because they will come to buy these exclusive marriage
products like dresses, ornaments on a regular basis as they have the buying habit of purchasing expensive things. But the middle class people will come occasionally to buy our products. So we have to focus more on the regular customers as they will have high brand loyalty. Also our target customers will also be very low price sensitive so that they do not switch to a cheaper brand if price increases for any valid reason.
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SWOT Analysis
SWOT analysis: The term SWOT stands for strengths, weakness, opportunity and threat. Generally strength and weakness are within the organization and opportunity and threat are out of the organization. That means internal and external environment influence. The business is both from inside and outside. Strength 1.High product quality. 2.Quick delivery.
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Opportunity 1. Market expansion in different corners of BD. 2. These are the trends, changes and characteristics of our marker that may offer opportunities for us now or in the future.
Threats 1.Changing behavior of customers. 2.We have competitors in this country. So its a great threat forus.
Competitors Analysis
Firms
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STP Analysis
S
Segmentati on
T
Targeting
P
Position
SEGMENTATION:
TERGETING:
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main target
3. Medium:
We have a special
Position:
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Products
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Bride
Products Name:
Antic
Products Name:
Cosmetics
Cream Foundation Lotion Shampoo Hair oil Perfume Soap Lipsticks Face powder Eye shadow Kajol Eye liner Bassoon
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Shoes
Male
Products Name:
Female
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Accessories
Personnel
Products Name:
Turban Purse Sindoor Churi Wallet Watch Cough link Beauty box
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Products Name:
Suitcase Ribbon Betel Sugar Nut Dallas Punchini for Halud &
Fancy Pot
Attractive Packaging
Wedding Mart offers attractive packing facilities to the customers who will buy its products by wrapping the products or gifts with very attractive and nice wrapping papers. It is necessary to do attractive packaging to target the customers and retained them. After the shopping we will do the packaging of the products with very nice wrapping papers chosen by the customers if the customers want. This will make the products and gifts much more attractive and interesting to the others.
Pricing
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Pricing of our products and services is one of the important determinants whether will be able to attract our target customers and make or not. We will also have our specific pricing method and payment method and attractive discount as well.
Discount Options
We provide various types of discount so that customers and clients are being attracted and that leads to sales increases. We have contract with several shops in discount contract. We will provide 8% discount on shopping more than 2,00,000 taka. There is also a bonus option to our valued customer. Clients have to choose some of cards where it gives some size of discount. We also have contract with Grameen Phone and Aktel to provide thank you services to the customers. 56
In the following, the huge collection of product list and range of the prices which we have in our business are given:
Tk
2000-50000 5000-50000 3000-30000 1000-3000 800-3000 4000-35000 700-3000
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Product
Undergarments
250-4000
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Price Range
250-4000 100-5000 200-2500 50-300 350-1200 50-1000
Price Range
500-8000 100-2500 50-150 250-1500 250-1500 150-500 350-2500 400 1500-2500 200-1500 90-1500 350-1500 400 800-5000 150-500 300-650 100-550 100-700 30-800 100-350 350-2000 350-2000 800-650 100-300 190-500 80-350
Beauty Box Nail Polish Kumkum/ Color pencil Cleanser Face wash Soap Toner Cream Lotion Oil Liquid Soap Shower gel Face pack
Scrub Shampoo Conditioner Powder Comb Mirror Hair gripper/ punch clip/ Band Razor Shaving foam/ cream After shave Toner Cream
90-350 300-1200 250-1000 80-300 40-200 80-550 30-350 100-1200 200-500 150-450 100-350 350-2000
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Price Range
800-25000 1000-5000 500-8000 1000-3000 550-8000 1000-4500 1000-3500 1000-3500
In our business we have arranged a collection of emitation, metallic, silver, oxidize, stone based ornaments. We are keeping catalogue, designs, and samples of normal and gold jewelry for taking order and make contract with different jewelry shops. So customers can effortlessly come in our shop, select design and give an order of particular ornaments.
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Distribution
Placement is a very important part of the marketing strategy. While
accessibility to the location. Being aware of it, we have decided to place Wedding Festival at Gulshan. Gulshan is almost at the middle place as per our target consumer profiles region part, under which we have targeted. Wedding Mart will be heavily and nicely decorated to
attract the attention of our target customers. As we have already mentioned that, we will rent a place of 3000 sq ft where all the
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necessary wedding products will be available. While shopping people trends to come with number of family members, so we will try to create a family environment at our shopping section.
Promotion
We will move on with different promotion techniques. We believe that a satisfied consumer brings in more consumers. Our target will be to please and satisfy the consumer. If a consumer is pleased, he or she will discuss regarding the matter with his/her family members, friends, and relatives. These family members, friends, and relatives will come to our place sometime or the other. In that sense, somehow we will focus on word of mouth techniques as well. But our primary promotional techniques consist of three categories;
Advertising:
i. ii. iii. iv. Print and broadcast ads Brochures and booklets Posters Billboards
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Direct Marketing
i. ii. iii. Catalogs Mailing Telemarketing
iv. v.
Sales Promotion
vi. vii. viii. Fair and Trade show Exhibitions Discount
Website Services
We open our website address in the internet. Anyone can get us
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from any parts of the country as well as foreign country. It will help the foreigner as well as nonresident Bengalese to give orders by the website browsing. It also reduces time of shopping and excitement in regards of organizing wedding ceremony.
Payment Method
Cash and Credit cards are acceptable and Customers Can Pay in Installment .
Services
Our service for the valued customers and clients are as follows:
Wedding Management
We will provide various types of wedding management which is related to the wedding occasion of Bangladesh. Like wedding ceremony, engagement program, Gaya Halud will be organized by us in the
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renowned community center in Dhaka city and every responsibility regarding this management we will be ours. We also organize Gaya Halud, Engagement ceremony in house, roof-top who are want to organize it in clients own house.
photographer services to our clients for the wedding purposes. And we have a contract with the photographer where it discloses entire terms and condition. We also provide still photograph & video service with CD & DVD service so that clients can get
full satisfaction about our services. And we value our customer most.
customer can buy their desired dress easily. They can see our products quality and style and order their design. We also provide tailoring service to our valued customers because it is obvious that ready mate dresses are not fir
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clients demand and the charge is separate for each item. As our customer demand we provide wrapping services of Gaya Halud and Punchini products which are related programs of Bengali wedding.
For
the
purpose
of
wedding
ceremony, we will provide rent a car services and car decoration service to our valued customer. We have contract with rent a CAR company for the wedding purposes and have contract with car decorator who will decorate the wedding car in the name of Wedding Mart. We also provide only car decoration services that has car already.
Catalog on Jewelry
We will keep some sample ornaments in our shop come office so that customer can buy the
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product as well as give order to jewelers through us. We have contract with some Jewelry house like Amin Jewelers, Kalpona Jewelers, Venus Jewelers who will take our order and will give 5-8% discount to our customers so that they can have more deals. We also keep antic ornaments, stone ornaments in our shop so that customer can but his or her right choice.
Decorator Service
We arrange the decorator services of home organized Gaya halud, engagement ceremony. We have contract with the famous decorator who is working in community centers. So we give contract to them and organize the whole procedure eventually.
wedding.
Tom-tom Service
We have contract with tom-tom driver of old town so that we can provide to tom-tom services to our clients for meeting their needs. Nowadays tom-tom is very popular in Dhaka city. It is used to bear the groom to the wedding ceremony. We have paid a fixed amount of money to the drivers so that we can call them any time when we need it.
Flower Services
Nowadays flowers are very popular in decorating the events, house, community centers, Shohag raat and so on. So we have contract with some flower producer and provider who will deliver flowers timely and can decorate the whole program or event by flowers. Flowers are also needed to decorate car. Bride sometimes needs flower to make over.
Parlor Services
We have contract with some famous parlor house in Dhaka city for both male and female so that customer or client can get the services in a discount. For this reason we keep contract with Persona, Farzana Shakil, Habib where people can
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cosmetics,
wedding
decorators services. Seeing the demand we have come up with a plan to establish a business where we will all the things
We have a
diversified wedding products collection like sari, lagenga, Punjabi, serwani, cosmetics, shoes, bags etc. we also provides
marriage related services like event management, decorator, DJ, flowers services etc. so we have a huge and diversified collection of products and services to meet the diversified demand of the customers. .
Family Environment
Wedding Mart has a unique environment where people can come with all the family members and can do shopping in a family environment.
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Wedding Mart has a unique feature that is its family environment. Here people can come together with their family members and do shopping comfortable without any hassle. Also the place is not crowded so people can move here
comfortable.
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Cost of Project Fixed Asst Land Furniture Start Up Expenses Total Fixed Asset Pre Operating Expenses Transport Stationary Salary Others Working Capitals Utilities Cost of Project ` 1440000 300000 2400000 7920000 30000 60000 300000 9000 4140000 108000 12168000 Financial Plan
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Particulars Fixed Capital Land Furniture Start Up Expense Pre Operating Cost Working Capital Total Percent
Owners Equity Loan Tk. Total Tk. Tk. 1440000 2400000 4140000 7980000 80% 300000 108000 480000 20% 7920000 4140000 108000 12168000 100%
Year
1 2 3 4 5
Loan Repayment Schedule Calculation of Installment Principal Instalment Interest Principle Remaining Amount Tk. 10% Repayment Balance Outstandin g Tk. 4,80,000 1,26,623 48000 78,623 4,01,377 4,01,377 1,26,623 40137 86,486 3,14,891 3,14,891 1,26,623 31489 95,134 2,19,757 2,19,757 1,26,623 21976 104,647 1,15,110 1,15,110 1,26,623 11511 1,15,110 0
Income Statement
Description Sales Revenue (Less) Cost of Service Gross profit Operating Expenses Sales Expenses Salary Expenses Advertisement Rent Supply Utilities Car Maintenance Total operating Expenses (Gross profit - operating Expenses) (Less) Depreciation Interest EBIT (Less) 5% Tax Net profit Tk 51,100000 240000 240000 500,000 15,0000 1,00000 50,000 50,000 20570000 2000 48000 20520000 1026000 19494000 Tk 73,000000 219,00000
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Estimated Profit
Year 1 Year 2 Year 3 Year 4 Year 5 TK. TK. TK. TK. TK. 73000000 98000000 123000000 148000000 173000000 51100000 68600000 86100000 21900000 29400000 36900000 103600000 121100000 44400000 51900000
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Conclusion
As a Graduate of Business administration we are supposed to solve various kinds of problems in a real world system that will reflect our ability and increase our Knowledge of these field, if we can do it successfully.
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Bibliography
# Internet
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