Free Essay

Kvs Solutions

In: Business and Management

Submitted By ramakriishna
Words 6493
Pages 26
SUBMITTED BY: RAMAKRISHNA KASETTY MU ID: 901719348 INSTRUCTOR: DR. TRACY CHRISTEFERO

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Table of Contents
1. Background ......................................................................................................................................... 3 2. Founders Name ................................................................................................................................... 4 3. Vision................................................................................................................................................... 4 4. Mission ................................................................................................................................................ 4 5. Objectives............................................................................................................................................ 4 6. Product and Services ........................................................................................................................... 7 7. Market Competition.......................................................................................................................... 10 8. Laws and Regulations........................................................................................................................ 11 8.1 Business Insurance ...................................................................................................................... 11 9. Marketing Strategy ........................................................................................................................... 11 9.1 Branding ...................................................................................................................................... 11 9.2 Promotion Strategy ..................................................................................................................... 12 9.3 Online Advertising ....................................................................................................................... 12 10. Selling and Investment .................................................................................................................... 13 11. First Quarter High lights .................................................................................................................. 16 12. Porter’s Analysis .............................................................................................................................. 17 13. PEST Analysis ................................................................................................................................... 20 13.1 Political factors.......................................................................................................................... 20 13.2 Economic factors....................................................................................................................... 20 13.3 Social factors ............................................................................................................................. 20 13.4 Technological Factors................................................................................................................ 21 14. Contingency plan ............................................................................................................................ 21 15. References ...................................................................................................................................... 23

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1. Background KVS Solutions is a business related to Tires services. KVS is going to operate in four sectors of services related to tires including:    Sale of new branded tires. Mobile service for tire change, wheel balancing, wheel alignment, cambering etc. Providing facility of storing winter/summer Tires in ‘Tire store’ under controlled atmosphere that keeps the Tires healthy and providing those to the clients just as the season arrive.  Providing winter tires to customers on Rental basis making it affordable for customers to have winter tires for their vehicles. KVS solutions will be one of its kinds as no other company is offering the above four combined services. Specially the combination of offering storage facility for winter and summer tires together with the option to rent winter tires is not offered by anyone else in the USA market and this idea is certainly going to attract many car users. Due to effects of climate change winters are becoming harsher which means that customers will have to be more careful while driving in winters as there are more chances of snow storms in winter and to drive a car without winter tires is certainly a huge risk. Recently it was reported by that ABC television reporter that snow storms warnings were issued in some parts of West Virginia indicating that one inch thick snow is likely to fall (Harrison, 2013). “Drive carefully because Life is precious but so is the Money” Most people find it too costly to buy winter tires given the fact that they are only needed to be used for 4 to 5 months of the entire year. However the safety they provide in driving during the winter season is worth money. Still people avoid winter tires due to their high cost and limited use and also it is costlier to save these tires in summer as they need to be stored at low temperatures to keep them in useable condition until the next season. KVS Solutions is here to help them, KVS will not only provides branded tires on rent based monthly basis but also take the burden of storing their summer/winter wires at its store location with all the facilities to keep the tire at the temperature that is ideal for keeping them safe. At RVS Solutions we do not pile tires on one another instead we use racks to store these tires which keep them in perfect condition for the rest of the season.

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The head office and storage facility of KVS Solutions will be located in Charleston West Virginia. Charleston is the capital city of WV and therefore is a busy city and has the 1st rank in terms of population in West Virginia. Charleston has a total population of 51,400 where as its metropolitan area has a population of 240,000 (“Executive Office of the President Report,” 2013). Charleston is an ideal place for starting our business and will provide us with many clients because of its growing economy. The Gross Domestic Product of West Virginia in the year 2009 was $ 55.4 billion showing an increase in GDP of 7 % making it 7 th best in the USA (Stewart, 2010).

2. Founders Name Ramakrishna Kasetty

3. Vision According to Robbins (2009) Vision statement provides the company with a direction and makes its employees motivated and committed to work towards the direction of the vision. Vision if properly communicated can create the same enthusiasm for employees which people have for sports and leisure activities. KVS Solutions Vision statement is: “We exist to make the life of the people more Safer, Comfortable and Affordable by providing best quality service at their door steps.”

4. Mission
As explained by Talbot (2003) Mission statement helps in identifying the over goal which a company wants to achieve. Mission statement tells organizations what its goals are and help in defining the company strategy in order to achieve its long term objective. KVS Solutions mission statement is:

“To be number one in providing best quality tire service to the customers and to make it easy for them to have best tire for the entire season.”

5. Objectives Year 2014 1st Quarter

Objectives  To get registered as a limited liability company.  Open a separate business account with the GE Capital

TimeScale  January 2014  January 2014

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Bank.  Complete and publish website Online.  Buy Vans to be used as Mobile Shops Equipment in it.  Advertising the business on Internet free of cost such as through making Facebook
 January –March 2014  January 2014  January 2014

and install

page and twitter account and starting a blog.  Organizing a business
 Jan 2014

inauguration party and post banners to invite general

public to the event.  Achieve the targets of sale of at least 100 numbers of tires for average revenue of $ 20,000.  To have at least 100
 January –March 2014  January –March 2014

customers who got their tire changed at the head office shop or through mobile shop.  Employee a team of 8

workers. Two employees will be on each of the three Vans while two workers will work at the head office.  Obtain Toll free number  Maintaining enough cash at hand in order to meet
 January –March 2014  January 2014  January 2014

expenses if sales targets are not achieved.

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 Enter into contract with at least 100 customers to sell them winter tires on rent.  Make at least 100 customers who are willing to store their winter tires in the summer season. 2nd Quarter  Maintain relationship with  April to June 2014  April to June 2014  April to June 2014
 January –March 2014  January –March 2014

customers already gained.  Advertising the business in local news papers and

magazines.  Making a 10% increase in revenue from the previous quarter. 3rd Quarter  Searching for new customers outside Charleston.  Expanding its mobile shop services to the whole of West Virginia.  Making a 5% increase in revenue from the previous quarter. 4th Quarter  Selling at least 10 pair of winter tires to new customers.  Entering into contract with customers to rent them 50 pair of winter tires for the entire winter season.  Convincing customers summer at to tires least store with 10 their KVS

 July 2014  July 2014  July 2014

to

September

to

September

to

September

 October to December 2014  October to December 2014

 October to December 2014

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Solutions.  Achieving enough profit to breakeven.  October to December 2014

6. Product and Services KVS Solutions will provide different type of tire services to the people of West Virginia and beyond. We will have a retail store at our head office in Charleston West Virginia where customers can come to buy branded tires. KVS Solutions is all about standard and quality and therefore we will buy and sell only those products that are prepared with high quality standards. This will not only keep our customers satisfied but also make the life of our customers safe and secure. We will only provide branded tires in our store from leading tire manufacturers such as Bridgestone, Perilli, Michelin and Dunlop. We will sell our tires both from our store and online through our website www.kvssolutions.co.in which is under construction process and will be ready for use in January 2014. The second service which the KVS Solutions will provide is mobile service regarding tire change, wheel balancing, wheel alignment, cambering etc. We will have three vans with all the facilities installed in it for tire change, wheel alignment, balancing and cambering. Customer can call us at our toll free number and our team will be at their doorstep to provide whatever service they need regarding tires. In addition to home service we will also provide on the road emergency service if during your journey your tires go flat just call us and tell us your location our Van will be there in no time to replace your tire. This service is especially beneficial for senior citizens, ladies and business elites and for people having vintage cars as their priceless collection. People who treat their cars as prestigious possessions often like to get their car service at their own home rather than taking it to a repair shop. So our home repair service will certainly appeal to enthusiast and collectors of car. Our third service will be to provide car owners with storing facility for winter and summer tires. People always find it difficult to store their winter tires as they often do not enough space in their garages to properly store them. Even they somehow manage to pile them in a corner still the temperature of summer season and careless storage of these tires make them unusable for the next winter season. Resultantly they have to buy new winter tires every next winter season and given their cost people often prefer to use all-season tires instead of using

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separate pair of tires for summer and winter season. However all-season tires results in more wear and tear in the summer and in winters they are not as effective as winter tires should be. So the car owners are not able to decide which option is suitable and less costly for them. KVS has the solution it will provide them storage facility for their summer tires during winter season and will store their winter tires during summers. Our tire storage hall will be fully air conditioned in order to ensure that the tires will remain stored under ideal conditions and be remained perfect for use in the next season. Given the climate change in recent years summer and winters are becoming more and harsher and driving on the snow without tires are certainly is a major risk. So car owners are opting more and more for the winter tires in order to drive their cars more safely. KVS solutions will help them in storage of these costly winters’ tires to keep it safe for the next season by charging a nominal fee. KVS Solutions has noticed that customers are reluctant to buy because of their high cost and the difficulty of storing them for the next season. So KVS solution has answers to both of these problems. KVS Solutions store rooms will take care of the spare tires of its customers while our renting service will make it affordable even for buyers with tight budget to have winter tires for the winter season. KVS Solutions is confident that its combination of retail store sales of tires together with the option to rent tires and storage facility is resultantly going to attract more customers as they could choose any of the option which is affordable to them. Also no other company is offering a combination of all these facilities thus KVS Solutions has a greater chance of excelling in this segment of tire market. SERVICE Sale of Branded Tires FEATURES BENEFITS high profile

Sale of Branded tires both Attracting

through our head office store customers such as users of and Online provide us with luxury and sports cars

the opportunity to establish a owners who always go for strong retailing business the quality.

having high quality tires for Establishing the name for sale. KVS Solutions as high

Quality tire providers. Mobile service for tire change, Alignment, Balancing etc. KVS Solutions will have Attracting three vans with all the vintage customers cars and with other

required equipment installed enthusiasts of cars having

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and will provide Door to expensive cars and want their Door service to customers cars to be serviced in their who do not want to bring own home. their car to garages. Attracting customers who fall in the category of senior citizens who are in difficulty in the middle of their

journey. This service will also help us to attract business men and professionals who have such a busy schedule that they find it hard to take their cars to the tire change shops. Providing storing facility for KVS Solutions has a storage It will certainly make easy winter/summer Tires. facility in the city of for clients to keep their tires

Charleston where our clients safe for as long as possible can easily store their given tires high cost.

winter/summer tries to keep KVS Solutions will also be them safe for the next season. able to attract more

customers to buy tires from its store as RVS is providing both the facility of selling and storing the tires. Providing winter tires to KVS customers on Rental basis Solutions provides Option of taking winter tiers

winter tires on monthly rent on rent will certainly attract basis as they are to be used more customers as they more for only four to five months people can afford winter tires of the year especially in the on rent basis. months become when the roads to

slippery

due

heavy rain fall.

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7. Market Competition According to PrWeb Market Report (2013) Compound Annual Growth Rate for winter tires for the years 2014 to 2018 will be 3.85 percent. Prweb report further provides that this increase in the demands of winter tires is due to the increase in concern for safety while driving in winters. KVS Solutions is certainly going to capture this opportunity as it has no immediate competitors in terms of combination of services available at KVS. The major competitors of KVS Solutions who are offering at least one such services are Discount Tire Direct, Tire Rack and Competitor Name Discount Tire Direct Strength Weaknesses

Operating in all the States of Do not provide door to door USA providing installing and service customers have to go suspension activities in to installer shop for mounting

almost all the big cities of the tires. USA. They have contract with qualified installers in all the States of USA. Tire Rack Strong focus on building Tire Rack has put more focus online market presence as it on selling the tires but there claims to have the most up- is lack of focus on the related to-date and user friendly site services such as the facility which provide customers of mounting the tire or wheel and balancing

with enough research before alignment making buying decision BF Goodrich services.

Selling high quality tires for Absence of services like sports cars and other heavy wheel duty vehicles. balancing. alignment and

Thus KVS Solutions has no immediate competitors and healthy growth of winter tires sales in the coming years is certainly going to help KVS in increasing its future revenue from tires. KVS is confident that its combination of four services under one roof is certainly going to help in winning the loyalty and commitment of customers. KVS Solutions has many advantages over their rivals. First of all along with the sale of branded tires we are also offering tire mounting services which make it convenient for the customers to have their tire

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replaced on the spot thus no need to find an installer. Secondly we are ready to visit each of our customers home in case to they want tires to get delivered their tires at home and our mobile van which is installed with all the machinery will be able to install the tires at their home. In addition to this mobile van is also capable of performing wheel balancing, alignment and cambering tasks. No other is company expect KVS, is offering such services at the most affordable cost.

8. Laws and Regulations I will register the company with the name of KVS Solutions as a Limited Liability Company. KVS Solution will appear on all government documents, such as application for employer tax IDs, licenses and permits .I will also obtain the Employer Identification Number (EIN) from the U.S. Internal Revenue Service department. According to IRS (2013) Employer identification number is necessary in order to identify a business entity and this service is free of cost. In addition to the above I will also obtain Tax IDs and permits from West Virginia revenue agency. State Tax IDs is necessary in order to registered as a state tax payer and to pay state taxes levied in West Virginia. KVS Solutions will also obtain Vendor’s license from West Virginia which is necessary to pay the sales tax. KVS Solutions will also register its website domain name as www.kvssolutions.co.in. 8.1 Business Insurance KVs Solutions will also insure its business in order to safeguard its assets in case any fire broke out or in other dire consequences. KVS Solutions shall also obtain insurance for Employer’s liability in order to protect employee’s health and safety rights in case they receive any injuries during work.

9. Marketing Strategy 9.1 Branding According to Shimp (2010) Branding includes all the effort which an organization undertakes to differentiate its products/services from its competitors. It include name of the product/service, sign, symbol, packaging and design. Branding is used to create value of the product or service in the mind of the customers. In order to promote our brand we will display KVS Solutions name on our mobile vans. Our Tool free number will also be displayed on our Vans which will make easy for customers to find us and call us for any service they want. We want to build KVS Solutions brand image as the one which provides

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high quality service and as a brand which really cares for its customer comfort and affordability. Branding is necessary to build customer loyalty. In order to promote our business we will organize a huge inauguration party on January 2014 in Charleston which will be marked as the start of our business. We will invite general public to attend the inauguration party at our head office by displaying banners on streets and public parks in Charleston. 9.2 Promotion Strategy We will also advertise our business through radio channels especially in the morning shows when most of the people are driving their cars in order to drop children to school, going to the office etc, and evening shows when people are returning from their offices. Radio advertisement is ideal for our business as it will allow us to reach directly to our customers and persuade them to visit KVS Solutions or to call us on our toll free number. Our Brand name RVS Solutions color will be black as that of tires and will be displayed on every documents of the company and on every advertisement. 9.3 Online Advertising

According to Brown (2010) use of social networking websites and overall the Internet has made marketing cheaper and easier. So it is the best way for new business to make their online presence and to promote their business through Internet. KVS Solutions will use social media as its online media advertising channels. These social websites will be used to provide information about KVS Solutions to millions of users who have subscribed to these sites (Facebook holds No. 1 spot in Alexa traffic ranking) and to establish a more close relationship with its customers. We will use social media sites such as Facebook, twitter, Flicker, MySpace and Trip Advisor. In addition to these KVS Solutions will also have its own dedicated website www.kvssolutions.co.in which will not only act as a n online advertisement channel containing useful information about the company but also as an online vendor for selling tires to the customers. Customer can visit www.kvssolutions.co.in any time of the day and could search our catalog of tires they can search for prices of different brand of tires and also can read detailed specifications of each tire and they could also buy these tires and could also pay for them online. The tires will be delivered at their home the very next day with free shipping and we will also mount the tire at their home for an extra fee of $ 15 per tire.

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From the second quarter of our incorporation we will also develop a mobile application for our business which will be available for free download on mobile devices of all the major mobile operating systems such as Android, Windows Phone and OS. Customers can excess our application for checking latest update including new catalog added to our stores. They would also be able to call us on our toll free number through our mobile application just by clicking on the phone icon.

10. Selling and Investment We will sell our tires both through our online store using our website and through our head office in Charleston. We will provide both option of credit and cash sale to our customers. The sale on credit basis will only be allowed to our trusted customers. The terms of credit 2/10 net 30 will be available on sale of tires only thus allowing a two percent discount on sales to customers who pay their dues within 10 days. The sale prices of our tires and other services are given in the table below: Services Sale of Tires  Winter Tires  Bridge Stone Tires Ranging from $ 95-300  Dunlop Tires Ranging from $ 100-400  Michelin Tires Ranging from $ 100-320  Pirelli Tires Ranging from $ 150-250  Cooper Tires Ranging from $ 70- 250  Summer Tires  Bridge Stone Tires Ranging from $ 95-200  Dunlop Tires Ranging from $ 70-200  Michelin Tires Ranging from $ 70-250  Pirelli Tires Ranging from $ 80-250  Cooper Tires Ranging from $ 60- 200  Van Mobile Shop  Our Mobile Van shop will provide the following services both at Home and on the Road:  Tire Mounting/Installation and Tire Change for $ 15 per tire.  Tire balancing service will be provided for $ 13 per tire. Special package of tire mounting + Prices

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balancing will be $ 25 per tire.  Tire Alignment service will be provided at a cost of $ 20 per tire.   Seasonal Tire Storage  KVS Solutions will also provide discount on Coupon basis to its customers. KVS Solutions will provide storage facility in order to keep safe extra tires of their customers in winter and then store their winter tires for the entire summer season for a cost of $ 30 per month as an introductory price. This will not only remove the burden of storing these extra tires but will also keep the tires more safe and secure in our store room where we use racks in order to store tires.  Tire on Rent Basis  Considering the high cost of winter tires KVS Solutions has come up with the idea to give the winter tires on rent basis and the rent rate will be based on the build of tire and its brand. Our rate will fall in the bracket of 10-15 per tire per month.  The customers will not have to worry about storage and they could easily rent the winter tires for the next winter season.

KVS will make the following investments at the start of the business which are necessary to start the business: Staff requirement Role Owner of the business Designation Manager Total Expense Salary $ 4000 per month

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Eight

skilled

Workers

to Six Workers will work and Wages $ 15 per hour.

operate at the wheel balancing drive the three mobile vans and alignment machinery for providing door to door tire services. Two workers will remain at the shop One unskilled labor Watch Man and Genitor Wages $ 8 per hour only night duty.

According to Vaiman et al (2012) Human resource management refers to the way in which the companies recruit train and retain its employees. HRM also includes development of a strategy as how to make its workers more skilled and efficient. As explained by Dowling et al (2013) Human resource is the most important resource of a company as human knowledge help companies in getting competitive advantage over their rivals. KVS Solutions will recruit the applicants with best credentials and those who have a passion to excel. KVS Solutions will provide necessary training to its employees regarding how to efficient use the Tire Balancing, Alignment and Cambering machinery. KVS Solutions will insure that each of its workers is skilled enough to handle all the tasks proficiently. Each of the eight workers will work under 8 hour shifts for six days a week. Two of the three vans will work from 9am to 5pm while the third Van shift will start from 5pm to 1am. The two workers at the head office will work from 9am to 5pm, so there will be no repairing after 5 pm at the head office only mobile shop service will be available. Resource Cost Use Racks are needed in order to store new and used Winter/ Summer tires. To get a Hall on Rent in $ 3000 per month Charleston. A 3000 sqft Hall has been taken on rent and will serve as the store room for tires. It will also act as the main

Office furniture and interiors $ 6000 including racks for tires

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office of KVS Solutions. Hall which has been rented need no extra renovation as it contains all the facilities like separate section for office and two wash rooms. Installation of Air Conditions $ 1500 To maintain temperature at ideal level during summers. Registration of business and $ 1000 Approximately. related Licenses 1 Computer for Office use, $ 1500 scanners and Printers To get the business

incorporated To store data about Clients and to maintain stock and accounting records.

Two land line phones one for $ 300 regular use and other as a Toll Free Number CCTV Cameras Three Vans on Lease $400 $3300 per month

Toll Free Number will be provided to customers to call for services when they need. For security purpose. KVS Solutions will utilize lease options to Finance its Three Vans needed for its Mobile Shop service. Lease period will be 48 months.

Wheel Alignment, Balancing $ 20,000 and Mounting Machinery

These equipments will be installed in each van and also will be available at the head office.

11. First Quarter High lights Expenses

Amount

Depreciation Expenses on Assets and other $ 25,000 Approximately preliminary activities

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Wages of the Manager/Owner

$ 12,000

Wages of Eight Skilled workers and One $ 70,000 skilled labor Total Expenses $ 107,000

Revenue for the First Quarter Services Sale of Tires Estimated Profit $ 30,000

Tire Mounting Alignment Balancing And $ 30,000 Cambering Tire Storage Rent Total Revenue $ 10,000 $ 20,000 $ 90,000

Total Profit/Loss for the First Quarter Total Revenue Total Expense Net Loss before tax for 1st Quarter $ 90,000 $ 107,000 ($ 17,000).

12. Porter’s Analysis According to Cheverton (2005) Porter’s five force analyses helps in the improvement of developing a strategy based on the strength and weaknesses apparent in the functioning of the company based on the analysis at a more specific level. Cheverton explained that Porter was of the view that his five forces analysis presented provide a better view of the strength and weaknesses of an organisations as compared to SWOT analysis which provide only a general overview of the environment affecting the entity. Agreeing with Chverton, McDonald and Wilson (2011) were also of the view that SWOT analysis is a macro approach and therefore

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is not effective in providing precise information about different factors affecting the company. This indicates that Porter’s five forces model is more specific approach in order to determine the marketing strategic plan for the future. As explained by Cheverton Porter’s five forces include Threat of New Entrants, Threat of Substitute products or services, Customer’s Bargaining power, Suppliers Bargaining power and Presence of Competitors in the Industry. Threat of New Entrants exist due to attractive market segments and often results in though competition among the companies and thus reduced the profitability of existing firms. Globalization and increase in the use of Internet has resulted in global competition. Today every information is available on the Internet which could be accessed from anywhere in the world within seconds. KVS Solutions strength lies in its unique combination of all the four services related to the Tires and it is quite evident that after seeing the success of our idea other companies will follow suit and may start copying over model. Thus KVS Solutions have to act quickly and smartly in order to gain enough name in the industry as soon as possible. For this reason we will advertise our services not only on the internet channels such as through social websites but also through radio channels in order to get our message directly in to the ears of car owners who are our main customers. In addition to this we will also contact large corporations and explained to them the services we are providing especially the availability of tires on rent which will allow these companies to have tires at a low cost on monthly basis. KVS also has to develop its brand image as the best quality service company in the area to retain its customers. As no matter how fast the competitors may act they will provide us enough time to have a initial advantage over other companies. Threat of substitute products or services include whether cheaper substitutes are available in the market which may make it difficult for the company to prosper. First of all KVS Solutions has no immediate competitors as our secondary research indicates that there are no such firm providing all the four service at the same time. Secondly our prices are very competitive to the companies who are providing one such service. Next two forces in Porter’s model are customers and suppliers bargaining power. Customer bargaining power is that the customer has the ability to determines the price and demand for the product due to availability of similar other products in the market. In tire service industry

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sector buyers have a lot of options there are many repair shops at local s well as international level which are providing one or more services similar to KVS Solutions. However no company is offering all the benefits under one roof especially the door to door service and availability of winter tires on rent basis. So buyers may go anywhere to install their new tires but when they want to get service their cars at home the easiest solution to them will be KVS solution. Also buyers will find it hard to get winter tires on rent on terms and conditions offered by us. As explained by Peng (2012) Bargaining power of suppliers depends on the fact that how much buyers are dependent in making purchase from a single supplier. As many companies has entered into the tire manufacturing industry it is unlikely that the suppliers have much bargaining power as buyers can move to new manufacturers in case their demands are not met. Especially with the entrance of Chinese and Indian investors it becomes very tough for the big companies in tire industry to have any bargaining power. KVS Solutions see this as an opportunity to take additional discounts from tire manufacturing firms buy going for bulk purchase option. Porter’s last force in his analysis relates to the presence of competitor’s in the industry. A market segment may be attractive but presence of large numbers of competitors makes it impossible for new entities to survive and thrive in the market. Presence of big corporations in a segment make the survival of the new companies difficult as they often offer large discounts making it possible for the new company to compete. KVS has no immediate competitors in the market however companies are offering one or two services like us but they do not provide immediate threat KVS Solutions. KVS Strengths are as follows:  Availability of rent option for winter tires with different range making it easier for buyers to afford winter tires.  Regular update in the offers such as discounts and new and easy renting options considering current trends in the market making it more attractive for customers.  Providing a unique service such as storage of summer/winter tires along with rental scheme and Mobile shop.  Providing customer satisfaction by creating value to customers regardless of budget.

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13. PEST Analysis According to Henry (2008) PEST includes Political, Economic, Social and Technological factors affecting the business environment. Political factors include the government intervention in the economy and laws and regulations affecting the entity such as: 13.1 Political factors  Changes in Law and Regulation affecting the Entity.  Legal issues arising regarding Contract and Agreements with staff, volunteers, suppliers, performers, sponsors, contractors, and venue could be a factor that affects business.  New Changes in the insurances Policies.  Changes in the tax Laws.  Strict Environmental laws waste management and Air pollution. 13.2 Economic factors Robinson et al (2010) provides that economic factors relates to changes in economy growth rate, inflation, currency exchange, Interest rate etc.  Recession in Economy making buyers to purchase fewer cars.  A change in consumer preference and their satisfaction level which is driven from the consumption of services.  Inflation resulting in price rise of Tires.  Variation in currency exchange rate. 13.3 Social factors Robinson et al further provides that Social factors include age distribution, Culture and traditions people hold, education level, gender equality etc. According to Griffin (2010) social factors play a major role in consumers buying behavior, what they like and what they don’t. Social factors also help in determining customer preferences and what they like in their products.  Every customer has their own specific needs and requirement. For example Senior citizens and Women prefer to receive mobile change service at their homes or during their journey in emergency cases. KVS Solutions Nobile Shops is for meeting all these needs.  In order to make Loyal customers largely depends on what customer value and prefer and providing the right service to the right customer at the right time is the aim of KVS Solutions.

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 The Age distribution factor as well as presence of business and professionals in the area must also be considered. 13.4 Technological Factors As explained by Handlechner (2008) Technological factors include advancement in technology such as introduction of more sophisticated machinery in the market high efficiency and low wastage of energy and other sources. The use of this new technology often provides the organization with the benefits such as reduction in operating cost and improvement in performance.  Advancement in the Wheel Balancing and Alignment Machinery will have significant effect on KVS Solutions business and how the company responds to the technology.  Advancement in IT sector also requires that changes in the business in order to meet new challenges.  New Technology may result in the need of services required as more use of Air planes in the coming year instead of Cars.

14. Contingency plan Kilkenny (2006) explained that Contingency planning is necessary in order to tackle emergency situations. Contingency planning often provides safeguard against threat such as fire and other serious accidents. Following are some of the possible problems and solutions to it: PROBLEM  Failure of the Tire Alignment and Balancing Machinery. SOLUTION  The second Van will be sent immediately to take the place of the first. Whereas the first will be sent for immediate repairs.]  Skilled Workers will be employed in the Second year of business for repairing machinery at the head office. PROBLEM  An Employee can come in the morning due to emergency. SOLUTION

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 The Employees of the night shift will take his/her place and the absent worker will be required to do the night shift. or  Shifting workers at the head office to the Mobile van work. PROBLEM  Accident such as Fire, damages to Vans in an accident or staff members getting injured. SOLUTION  Providing immediate medical support.  Installing fire extinguishers both at the storeroom and in Vans.  Insuring the stock in the store room, Vans and also taking Life insurance policy for the workers.  Informing the Lessor about the Incident and making arrangements for new Van as quickly as possible.  Determine the party responsible party for the accident and taking appropriate disciplinary action.  There will be proper training to each and every staff that what to do if there is any kind of emergency and if there is any kind of unexpected event probability.

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15. References Brown, B.C. (2010). How to Use the Internet to Advertise, Promote, and Market Your Business Or Web Site: With Little Or No Money. Atlantic Publishing Company, pp: 299-302 Cheverton, P. (2005). Key Marketing Skills: Strategies, Tools and Techniques for Marketing Success. Kogan Page Publishers,pp: 80-100. Executive Office of the President Report, (2013, Feburary 28). Revised Delineations of Metropolitan Statistical Areas, Metropolitan Statistical Areas, and Combined Statistical Areas, and Guidance on Uses of the Delineations of These Areas. Retrived from m.whitehouse.gov/sites/default/files/omb/bulletins/2013/b13-01.pdf Griffin, D. (2010). Business with a Purpose: Starting, Building, Managing and Protecting Your New Business. Easy Brain Labs Inc, pp: 127-140. Handlechner, M. (2008). Risk Management: GRIN Verlag, pp: 6-10. Harrison, (2013, December 07). Winter Storm Warning Issued In Parts Of Eastern WV: abc News. Henry, A. (2008). Understanding Strategic Management: Oxford University Press, pp: 51-70. Internal Revenue Service, (2013). Employer ID Numbers (EINs). IRS USA. Retrieved from, www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Employer-ID-Numbers-EINs Kilkenny, S. (2006). The Complete Guide to Successful Event Planning: Atlantic Publishing Company, pp: 229-230 McDonald, M. and Wilson, H (2011). Marketing Plans: How to Prepare Them, How to Use Them 7th edition. Wiley, pp: ix Peng, M.W. (2012). Global Strategy, 3rd ed. Cengage Learning, pp:41. PrWeb Market Report, (2013, November 1). Winter Tire Market in the US. PrWeb Retrieved from www.prweb.com/releases/2013/11/prweb11289289.htm Robbins, S.P. (2009). Organizational Behavior, 13/E: Pearson Education India, pp: 478-480 Robinson,P.; Wale, D. & Dickson, G.(2010). Events Management. CABI, pp: 1-2 Shimp, A.T. (2010). Advertising, Promotion, and Other Aspects of Integrated Marketing Communications 8th edition (pp: 639-645). Cengage Learning.

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Stewart, R. (2010, Novemeber 18). Economic downturn widespread among states in 2009: Advance 2009 and Revised 1963–2008 GDP-by-State Statistics, Bureau of Economic Analysis. Talbot, M. (2003). Make Your Mission Statement Work: Identify Your Organisation's Values and Live Them Every Day. How To Books Ltd, pp: 1-10. Vaiman. V., Scullion, H. & Collings, D. (2012). Talent management decision making Management Decision. (50)5, pp: 925-941

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