Customer and Market Profile The Mobile Mechanic Assignment

Customer and Market Profile The Mobile Mechanic - Assignment Example Today the advancement of technology has made it possible to bring the customers across the world at the virtual shop where they are allowed to browse, select, try and make payments without being physically present at the store. The increased level of consumer awareness, because of globalization has become the centre stage of triggering of new kinds of demands from the consumers all around the world. Naturally, the new kinds of consumer demands are helping in the process of evolution of significant business opportunity in various markets around the world. Witnessing the demand for new products and services in various international markets, companies headquartered in foreign locations are also entering into many new markets. In many cases, the organizations record a significant growth in business profits by entering in to new markets, while facing stagnant growth levels in the domestic and home markets. Talking in regards to the issues of market entry by various global and multinationa l organizations, it has to be stated that the presence of multiple organizations in various global markets lead to the rise of homogeneous products that are available in those markets. The growth of homogeneous products in any specific market raises the choice of products available to the consumers and thereby raises the level of competition that exists in the marketplace. To increasing differentiate the product and service offerings of a company in the case of high competition; the factor of innovation is used. In this case, the focus is on a new project which uses the concept of mobile mechanics. The main idea of this project is to provide mechanic services to the target customers for their cars in the mobile format. The unique selling proposition of this idea is that the cars and vehicles of the target audience will be serviced at the customer’s place of convenience which may range from their own workplaces to other locations preferred by the customer. Industry overview Wh ile trying to understand the industry of mobile auto repairing market in the United States of America, it is very important to develop a holistic understanding for the entire auto repairing sector existing in the United States. The auto repair market of the United States is largely dependent on the national as well as global automotive industry. The presence of various national as well as international car manufacturers present in the market of the United States has a strong influence in creating the demand for auto repairs. The presence of the multiple car manufacturers in the region also creates a strong level of competition for the auto repair market as more and more customers focus on the process of buying new customers rather than opting for repairing of their old and used cars. It is very important to consider that the national economic condition of the United States of America is a major influencer for the auto repairing industry of the region. In the current times, the fluct uating economic performance of the nation along with the rise of other supporting industries has resulted in the process of growth of the auto repair sector of the United States (Jubileeresearch.org, 2012). It is important to state that the industry of auto repairing in the United States comprises of four segments like general automotive repair, automotive transmission repair and maintenance, other repairs and automotive exhaust repair. It has to be stated that around 85% of the auto repairin

Taxation Essay Example | Topics and Well Written Essays - 1250 words - 2

Taxation - Essay Example However, the unrecovered rent of two months that the previous tenant totaling  £1,000 will not be deducted in deriving the taxable profit since the amount is not an expense entitled to the property owner for immediate deduction under the Inland Revenue provisions (Lunt, 2009). Similarly, the  £600 rent paid in advance has to be reflected in property income assessment. Under the Inland Revenue rules, rent advances have to be reflected in the year the financial year the rent income has been received (Segal, 2011). This implies that the 2013-2014 property income assessment that runs up to 30 June of 2014 has to cater for all rental income even if it is not meant for a month falling in the given financial year. Furthermore, the rent income that was collected from the previous tenant before defaulting has to be included in the property income assessment provided to the Inland Revenue authority (BLS.com, 2014). Consequently, client A’s profit that will be taxed by the Inland Rev enue authority is the derived after deducting the three identified expenses from all rental income received within financial year of 2013-2014. Undeclared property income has the consequence of imposing penalty charges on the property owner for defaulting to remit the tax returns for the given financial years (Gilbertson, 2009) (James, 2009). However, client B has the potential of saving the money charged by HMRC by reporting the undeclared property rental income. The opportunity is available to client B by registering for self-assessment in declaring income that has not been taxed for the last four years (Warren, Reeve, & Duchac, 2012). The tax return is filled in different tax return to cover for each of the undeclared tax. In addition, the HM Revenue and Customs provides that if one has registered for Self Assessment but has failed to declare all their income generated in previous years, he