The table above is from a monthly report generated after running a month in a SimVenture scenario. It details promotions undertaken to tell the market about your product - Essay Example

SIMVENTURE Introduction This is a SimVenture business that is newly started and is doing fairly well. I was hoping to move to a better location to achieve high target market. This paper is going to survey the reason for a second network after an attendance at the Chichester chamber of commerce. Second Networking Group During my attendance of the Chichester chamber of commerce, I got so much business from my fellow members. This, coupled with little business i have experienced as a SimVenture company has prompted me to choose a second networking group.

Networking is valuable and significant for any business profit and commercialization (ÖSterle, Fleisch, & Alt, 2001, 27). There are various reasons why networking is valuable to a business, especially a SimVenture business, but huge profit margins and advertisement are the main ones (Bazzichelli, 2008, 15). There are three choices that I researched on before deciding on one. The first thought was networking group in the Bognor Regis, the freelancers. This networking group was made up of twenty males and five ladies.

The cost of membership registration was placed at two hundred dollars and a monthly fee of fifty dollars. This was to be used to buy refreshments during meetings, to hire a room for the meetings and to buy the freelancing equipment’s that members used. The freelancing group was made of members who did freelance work and mostly worked at home (Schaffer, 2009, 151). All of them were out of school and were either doing part time freelancing jobs or partnering with someone thus employed in an organization where they did the freelancing work.

They were in the meeting to find connections to other jobs meet friends, in short, they were not committed nor did they own businesses (Ryan, 2011, 5). The large number of men meant lots of technology, business and this was good for my SimVenture business but the timing was once in two months( KöNig-Ries, 2002, 11). This was too far apart for my small upcoming business. Moreover, the fee was too high. My second research was done on networking groups in Chichester, in a group called the commerce futures.

It was perfect for my business because the membership was at fifty dollars registration. Rental space was cost nil as we met at a volunteer’s house. The meetings were fortnightly and the attendance was huge. The group consisted of thirty females and twenty two males. The business from fellow members was incredible as most had attended the Chichester chamber of commerce meeting. The timing was good for a small upcoming business and also went well with my school calendar and target market (Faulkner & Nierenberg, 2013, 82).

Professional development was also of high chances in such a group of professionals and established business people. My final research was done in my home area. Here the registration fee was not charged people come to each other’s home every Friday evening. The group is called the money makers and most members were mature people who were obsessed with home appliances and recipe books. The group only consisted of females in their sixties. There was a lot of neighbor gossip and small fights over petty issues (Ryan, 2011, 20).

I got no business as they were not interested and did not know more about Simventure. Conclusion I chose the Chichester commerce future networking group. This is because it had the right group of people: professionals with reputable businesses. The number of men and women was fairly equal and they were modern people with interest in my SimVenture business thus I got business and exposure. They are my ideal bridge to my target market unlike the other groups plus the timings and meeting were right for my university schedule.

References Bazzichelli, T. (2008).Networking: the net as artwork. Faulkner, M. L., & Nierenberg, A. R. (2013).Networking for every college student and graduate: starting your career off right. Sterle, H., Fleisch, E., & Alt, R. (2001).Business networking: shaping collaboration between enterprises; with 40 tables. Berlin [u.a.], Springer KöNig-Ries, B. (2002). Developing an infrastructure for mobile and wireless systems NSF Workshop IMWS 2001, Scottsdale, AZ, October 15, 2001 : revised papers.

Berlin [etc.], Springer. Ryan,P.K.(2011)Socialnetworking.NewYork,RosenCentral. http://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&db=nlabk&A N=617390. Schaffer, N. (2009). The Windmill Networking approach to understanding, leveraging and maximizing LinkedIn: an unofficial, step-by-step guide to creating and implementing your LinkedIn brand : Social networking in a web 2.0 world. [S.l.], Booksurge.com.