Business Essential: Introduction, Objectives, PESTLE Analysis, Launching an Event, Marketing Mix

This document provides an introduction to business essentials, including objectives, PESTLE analysis, launching an event, and marketing mix. It covers topics such as business idea and justification, objectives, PESTLE analysis, launching an event, and marketing mix. Suitable for students studying business and related courses.

Business essential
introduction

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
Business idea and justification of the business...........................................................................3
Objectives of the business...........................................................................................................4
TASK 2............................................................................................................................................5
PESTLE analysis.........................................................................................................................5
TASK 3............................................................................................................................................6
Launching an event.....................................................................................................................6
Produce a budget.........................................................................................................................7
TASK 4............................................................................................................................................8
Marketing mix.............................................................................................................................8
CONCLUSION..............................................................................................................................10
REFERENCES...............................................................................................................................11

INTRODUCTION
Business is an occupation and an activity of purchasing and selling products and services.
This study will cover and shows about some factors that impacts on the functioning of business
and also impacts on its decision making process (Hennig-Thurau and Houston, 2019). Marketing
mix and 4P's of marketing also helps a businessman in introducing their products to customers.
This report will show the importance of an event for launching products that also helps
businessman in showing features of products to customers. The main aim of this report is to
develop a unique business idea.
TASK 1
Part A
Business idea and justification of the business
For the students of Royal agricultural university and for their facilities the business idea
is created that business will provide services through both online and high streets. The services
which the business wants to provide are stationary and healthy and fast food for all the students
of university. The main aim of creating and developing this idea is to save students time and also
provide them facilities as they can order online for urgent requirements related food and
stationary (Liu and et.al., 2018). There are many restaurants and stationary in that particular area
that provides food and stationary but the business will provide all the services at affordable price
and it will provide all the services for 24 hours.
Sometimes students face problems related food materials and stationary so it will provide
both services at its store near this university. Location of this business is in Cirencester, UK.
There are some competitors of the business which also provides these facilities such as:
Stationary shops Restaurants near universities
There are some stationary shops which
provides printing, stationery and pens for
official work and education. The best and
popular stationary which creates competition
for the business is GH Knight stationery and
print that is located in 1 Silver St, Cirencester
GL72Bj, United Kingdom. This also creates
Miller and Carter restaurants is vegetarian
friendly restaurant that has total 1784
restaurants and Pubs in this industry. Location
of these restaurants is Olympus park space
business centre, Gloucester GL2 4NF ,
England. It also creates competition for the
business. It is a competitor for stationery and

competition for the business as it is famous and
provides all types of stationery to students
food material business as it also provides a
healthy food to all students of university.
Part B
Objectives of the business
To facilitate students of university with good quality food available 24/7 is the main
objective of the business. The main aim of this business is to delight their students and customers
by providing outstanding services at given time that can create an excellent value of products and
services knowledge at affordable price. For stationery this business have everything which
students requires.
To make it easy and beneficial for all the students of university in order to find copies of
older books and guides that can help them in further process and study.
To provides various facilities like this business copies and prints in black & white and
also in colourful, laminate, scan documents and also provide fax services. This becomes very
easy for students as they do not have to go at any another shop and place which consume their
times. The main speciality of this business is it provides online facilities also. Through this
facility students can order their products which they require that also save their cost and time. It
becomes easier for students and customers to get all the services at university. It makes their life
easy and beneficial by providing and supplying all the items and services under one roof
(Quinlan and et.al., 2019). It also provides food materials to student through online and store. It
provides healthy food to students at affordable prices.
Type of ownership
Type of its business is partnership because it is not possible for an individual to handle
shop and deliver products and services online all alone. For providing services online and at store
it is required to have 2 or more than 2 partners. This business is general type of partnership in
which all the partners are equally responsible for all the management activities. The main benefit
of having this type of structures and ownership is all the partners are liable for risks and divide
risks according to their investment. It becomes easy for the partners. There are some features of
this ownership as it requires to be created by agreement that has the proof of existence. All the
partners are liable and responsible for any legal actions.
There are some advantages that shows the importance of partnership such as:

It becomes easy for start companies to operate and establish business easily as start up cost are
low.
High calibre and skilled employees can be made partners and give different and unique ideas that
can helps the partners in growing their buisness in an effective manner.
TASK 2
PESTLE analysis
There are some factors that affect this business in positive manner and in negative
manner such as political factors, social factors, environmental factors etc. The main aim of
PESTLE analysis is to
Political factors: The business which has been selected and chosen is stationery and food
company. It is a large business that is a part of the information technology. Laws and regulations
related food industry also impact on the business. The business needs to purchase raw materials
in order to manufacture products for providing it to students. Regulatory pressure on this
business is also a factor that becomes a barrier in the growth of a business. Lack of political
stability in a country also impact on a business operations. Political stability creates riots,
disputes and another disorder in the market that can directly impact on the sales of the business.
Economic factors: Economic conditions of a country can also impact on the business
performance. Due to financial crisis and due to changes in conditions the business has to face
many problems. For food items and materials also these factor also impact. Local currency
exchange rate and strength of customers and students spending impact on its food business.
Social factors: There are some issues and factors which start-up have to face. This
business provides cheaper products but sometimes it might have to sacrifice the quality of its
products related stationery and food materials. This is the main social challenge that the business
has to face (Widya Yudha, Tjahjono and Kolios, 2018). Changing in lifestyle of students as
people are becoming more health conscious and they want only healthy and cholesterol free food
so it becomes difficult for the business to maintain and fulfil all their needs.
Technological factors: There are some technological factors that also impacts on the
business in negative manner as well as in positive manner. Technological factors bring huge
changes in the ways by which the business produces its services and products. The business uses
new and developed technologies for providing unique services to students. Thus factors increase

competition. With the help of and using of new technologies it can develop its business and make
itself differ from other companies.
Legal factors: There are some laws and legislations that greatly affect the quality and
value of food. The food laws and regulations affects the nutrition and food quality standards.
Hygiene, sustainability and compliance are other main factors that is important for the
businessman to consider and also comply with legal regulations. The type of organisation of this
business is general partnership so there is a requirement to state on invoices, orders, letters and
the names of all partners.
Environmental factors: There are some environmental issues and factors that are global
warming and the changes in climate becomes the barrier in the growth of the business. In context
of stationery business, it requires to not to produce waste materials in order to satisfy
environmental needs. It should be ethical in order to operate and satisfy all the needs of its
students and customers. The business needs to produce sustainable services and products and
also needs to change strategies towards waste management (Fozer and et.al., 2017).
TASK 3
Part A
Launching an event
A launch event is an excellent way of introducing products and services to students and
customers. There are many ways of launching an event and introducing products like through
social media, by inviting celebrities in an event. A business man requires to follow some steps for
launching event. It can also give welcome speech and a statement in which it includes
Venue: Venue and a place play an important role in organising an event. It should be a
place where target customers can easily approach and reach. IT chooses a place which is
convenient for people and guests also the businessman is going to held this event at chirch roal,
Bibury, Cirencester on 15th April, 2019.
Features and benefits of products: It is also important to tell all the features of services
and products that a businessman wants to launch. For that it can talk about product in detail and
can also explain its market plan. It is going to launch their products on social media platform also
as in that all the informations will be given. AS a guest there will be Mr. Ryan Gosling.

Speech: For those of you who do not about products and services related healthy food
and stationary have many features. All the services and products are of good quality and are
cholesterol free (Nikulina, 2018).
Entertainment: For making an event more fun and memorable there is a requirement of
having multiple choices in the way of entertainment. For making this event memorable there will
be some activities in order to engage attendees and launch products effectively. As a guest and
for launching this event there will be Mr. Ryan Gosling as a guest.
Event timing: This event will start on 5 Pm. After an event there will be some gifts and
refreshment for attendees.
Thanks for giving a chance and we are very proud to be able to launch our products and
services here at this amazing place with all of you.
The main aim of launching an event and inviting guest is to make it popular and gather a
crowd. It need a lot of money but after having a crowd and people they will come to know about
products and services that will increase the sales of this business.
Part B
Produce a budget
The concept and importance of budgeting:
It is a procedure of creating a plan in order to spend money. It is important for
businessman to have and make budget plan. It helps them in reaching their goals and also tells
financial situations and priorities of their spending. The main purpose of a businessman of
making budget plan is to forecast of income and expenditures which may be helpful in decision
making process (Wasylyshyn, 2017). An event budget and budgeting plan helps and supports
businessman to track event expenditures like marketing costs, venue rental, endorsement, vendor
payment, advertising revenue and so on. It also allows them to forecast that how much of money
they will be able to save in the future for emergency expenses and for making long term financial
planning. There will be almost 200 people in that event.
Location rental £500
Advertisement £300
Online marketing £150
Event staff £350

Endorsement and payment to guests £5,000
Refreshment for attendees £10,000
Total £16,300
The location where the event is going to help is in Cirencester so the location rental is
£500. For advertising a businessman paid £300. For promoting the products and this event there
were requirement of marketing and in marketing a businessman have to pay £150. Payment to
guest was £5000 and there were about 200 people and for their refreshment it pays £10,000 as
per head charge was £50.
This event was very expensive and for that money was collected from various sources.
Some amount was taken with the help of loan and some was from businessman's previous
savings. It was not possible for launching this event without the helps of loan so with the help of
this event got launched in an effective manner.
TASK 4
Marketing mix
Marketing objectives: Marketing refers all the activities that a businessman requires to
do in order to promote its products and services. It includes various activities like advertising,
delivering of products etc. there are various objectives of the business man of doing marketing.
To introduce all the features of products and services that it wants to serve to students and
customer such as the quality of products, cost and value of services and products. To tell the
importance of its brand like food quality etc. It is important for the business as it helps them in
increasing sales through using the best promotional strategy. It also helps in building brand
awareness and also improve and enhance customers relationship.
Target market: For marketing it is very important for businessman and marketer to
target a group of people and target market. It refers the group of potential students and customers
to who a business wants to serve its products. There are various types of targetting like
demographic, geographic and so on. This business wants to target for its products and services to
students of Royal agricultural university. For this business its is appropriate target because its
objective is to make easier for students to find all types of stationery like find specialist literary

novels and guides and also provide them healthy food so for businessman students are
appropriate target. It helps businessman to develop effective communication strategy.
Marketing strategies for each target market: There are various target market strategies
which can be used by a businessman in order to effective activities and taking the right and
accurate decisions. For promoting and making an effective strategies the businessman adopts the
best promotional ways. Trough its mobile apps and social media platform it improves
communication and also helps them in reaching with people of target market (Stead and
Hastings, 2018). Through mobile apps it becomes very easy for businessman and for students to
communicate easily.
Marketing mix: A marketing mix is a foundation model that can be defined as the set of
marketing tools that a businessman requires to follow in order to pursue and achieve its
marketing objectives. With the help of this strategy and 4Ps of marketing mix a businessman can
easily promote its brand and products in the target market.
Elements Description Justification
Product This business wants to sell all
stationery items and healthy
food for students.
Students find difficulties to get
stationery items as they have
to roam for buying stationary
items so it wants to provide
this products at one store and
online.
Price Price of the products and
services are affordable as
compare to their competitors.
Most of the students do not
earn with the study so it is
important for businessman to
provide them all products at
affordable prices. To attract
students at their shops and
their products it provides
products at reasonable price.
Place This business is going to sell Sometimes Students do not

its products through its mobile
apps and websites, it has shop
also as customer can visit their
shop and can order online.
have enough time to go shop
and buy stationary materials
and food so smart phone apps
reduce their time as they do
not need to go and visit shop.
By ordering online they can
buy things.
Promotion For promotion it uses direct
marketing in order to promote
its products in an effective
way.
For attracting more students
and introducing them the
features of its products and
services it uses direct
marketing.
CONCLUSION
From the above study it has been concluded that marketing played an important
role in promoting and maximizing sales of a company. Some factors impacted on
business activities in negative manner and in positive manner. The unique business
idea also helped a businessman in increasing sales. An event also supported
businessman in launching products in an effective manner.

REFERENCES
Books and journals
Fozer, D. and et.al., 2017. Life cycle, PESTLE and multi-criteria decision analysis of CCS
process alternatives. Journal of cleaner production. 147. pp.75-85.
Hennig-Thurau, T. and Houston, M.B., 2019. Creating Value, Making Money: Essential Business
Models for Entertainment Products. In Entertainment Science (pp. 151-231). Springer,
Cham.
Liu, Q. and et.al., 2018. Stationary distribution and extinction of a stochastic predator–prey
model with additional food and nonlinear perturbation. Applied Mathematics and
Computation. 320. pp.226-239.
Nikulina, E., 2018. Event Plan: Finnish-Singaporean Cross-cultural Wedding.
Quinlan, C. and et.al., 2019. Business research methods. South Western Cengage.
Stead, M. and Hastings, G., 2018. Advertising in the social marketing mix: getting the balance
right. In Social Marketing(pp. 29-43). Psychology Press.
Wasylyshyn, K.M., 2017. Enriching Executive Development: The Essential Partnership Between
Human Resources Professionals and Executive Coaches. The Talent Management
Handbook: Making Culture a Competitive Advantage by Acquiring, Identifying,
Developing, and Promoting the Best People, p.226.
Widya Yudha, S., Tjahjono, B. and Kolios, A., 2018. A PESTLE policy mapping and stakeholder
analysis of Indonesia’s fossil fuel energy industry. Energies. 11(5). p.1272.
Wu, Y.L. and Li, E.Y., 2018. Marketing mix, customer value, and customer loyalty in social
commerce: A stimulus-organism-response perspective. Internet Research. 28(1). pp.74-
104.