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  Mithy’s Sweet Room Cupcakes - $7 Business Studies Quiz

  Mithy’s Sweet Room Cupcakes - $7 Business Studies Quiz
   
  
  ‘Sweet room’ is an online shop that sells amazing cupcakes to people all around Dhaka. The owner of this shop, Mithy has rented a two-room house in Dhanmondi to make the c...

  • July 29, 2021

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    Zarin sadaf snigdha Break even point= Total fixed cost/sales price per unit - variable cost per unit
    =(10,000 +10,000)/(500-250)
    =80 In order to increase the profitability of the business we need to increase the revenue of the business. Firstly since we know that this is...  moreBreak even point= Total fixed cost/sales price per unit - variable cost per unit
    =(10,000 +10,000)/(500-250)
    =80 In order to increase the profitability of the business we need to increase the revenue of the business. Firstly since we know that this is an online venture customer relationship is a huge factor. If one customer receives a good service then they will bring more potential customers. So Quality must be top priority & we could provide incentives such as special discounts to returning customers. The more they buy the more discounts they have. We also need to have a very interactive platform or website & be active constantly so that every potential customer is gladly attend. Revenue can also be increased by encouraging bulk purchase or orders.  less

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    Zarin sadaf snigdha This can be done by giving special offers to large orders. Making sure that our business reaches maximum number of people online is another big concern & this can be achieved by digital marketing. Boosting the website or page or giving adds is a...  moreThis can be done by giving special offers to large orders. Making sure that our business reaches maximum number of people online is another big concern & this can be achieved by digital marketing. Boosting the website or page or giving adds is a must. Automated or digital approach to packaging can also reduce overheads which in turn increases profitability. Making efficient use of resources also leads to less overheads as there is less wastage. Making an option for customers to post reviews is also very important as it gives future potential customers assurance as they read the reviews. Bringing new additions such as new flavours can also boost sales also new themes on trendy topics can help publicise more. New attractive packing with stamps are another way to reach more people. To sum up Mithy can increase sales or reduce overheads to make her business more profitable. Attracting new customers & maintaining relationships with old ones is the key to her success.  less

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    Mahi Imran Break even point= Total fixed cost / ( sales price per unit - variable cost per unit) =(10,000+5000+5000)/(500-250) =80
    To increase Mithy's profit,she must...  moreBreak even point= Total fixed cost / ( sales price per unit - variable cost per unit) =(10,000+5000+5000)/(500-250) =80
    To increase Mithy's profit,she must need some loyal customers. So in order to increase customers, Mithy should  

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    Mujtaba Rafid Let's clear the math first(just for the sake of it)-
    Housing cost- BDT 10,000
    Total cost of employees- BDT 10,000
    Total fixed cost- 10,000 + 10,000= 20,000...  moreLet's clear the math first(just for the sake of it)-
    Housing cost- BDT 10,000
    Total cost of employees- BDT 10,000
    Total fixed cost- 10,000 + 10,000= 20,000 taka
    Sales price per unit- BDT 500
    Variable cost per unit- BDT 250
    Sales price per unit - Variable cost per unit= BDT 250
    So the break-even point= 20,000/250= 80
    So basically, Mithy needs to sell 80 cupcakes per month to make sure that the cost and total revenue are equal.
    So what can she do to increase her sales?
    A tricky question that does not have a straightforward answer because it includes so many variables.
    All we can do is to lay out some tips.
    Since the cupcakes are amazing, she can take a bit of risk. She can invest more money and spend more money on marketing. For example, she can use it to boost her Facebook business page to get more traction or hire a part-time online marketer who will keep a close eye on her customers and see what they want. It will be risky because the break-even point will be higher which means she must sell more...    less

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