Business Essentials and Marketing Strategies

The provided document is an assignment that discusses various business essentials, including marketing strategies, targets, and cost control. It highlights the significance of adopting a SMART approach to achieve targets and controlling costs effectively. The document also emphasizes the importance of using the marketing mix to ascertain all goals on time. By applying these concepts, businesses can manage their targets successfully.

Business Essentials

Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
Part A Suitable business idea for establish and implementing new project....................1
Part B Major Objectives for a business and nature of cafe................................................3
TASK 2............................................................................................................................................4
Analysis of external factor........................................................................................................4
TASK 3............................................................................................................................................7
Part A Launching of event for introducing at market...........................................................7
Part B Producing a budget......................................................................................................8
TASK 4..........................................................................................................................................10
Use of various marketing concept in a business................................................................10
CONCLUSION.............................................................................................................................14
REFERENCES............................................................................................................................15

INTRODUCTION
One of a major objective for every company is to provide quality services to their
users. This aid an organisation in attaining targets and objectives which are formulated
by senior management. Every new business contributes some values in an economy of
a country which is beneficial for them to sustain in market for long term. This
assignment is based on business essentials which are required for opening of a new
Coffee shop. For this, entrepreneur require a place, method through which business
would be operated and all such factors which are helpful for any start up (Anderson,
Sweeney and Williams, 2011). Along with this, every business has to set some of
objectives for a firm which is essential for successful running of organisation. Moreover,
external environment analysis is also an important before starting a new business.
Further it requires a launching event for the business which is consider as major thing
and for this, management have to use appropriate steps. This present report is based
on the Hup Cafe which is going to establish a new venture at Park London Street.
TASK 1
Part A Suitable business idea for establish and implementing new project
Hup Cafe is going to start their new coffee shop at London street in the centre of
the city though which they can attract large number of customers. They are going to
introduce a new range of products and many new sorts of coffee for their users. This is
considered as USP for business. Along with this, they have also plans to provide home
delivery service within 15- 20 minutes so that company can gain the advantage from
this by defeating their rivalries. As this is helpful in gaining the competitive advantage of
business (Anderson and et. al., 2014).
Their idea is not new because many coffee shops are already running but
management have to choose appropriate techniques through which they can attract
large number of customers. This lead to support them in met all the demands of their
users on time. As this is helpful for long term sustainability of business. Their range of
products are: World coffee, Ginger Mojito etc. All these are new products at market and
thus this is a new and innovative thing for for each and every user of product. Their
products are good in quality and also aware about health problems and issue of their
1

customer which enforce them to meet the health obligations of their consumers
(Blumberg, Cooper and Schindler, 2014).
There are several key competitors who lead to affect business operations
enforce the company to use suitable methods through which they can generate more
profit than others.
Competitors Unique Selling Proposition
Colonna & Small Their interior is attractive which provide a
sense of relief with an entrance over at
shop.
Kaffeine Mango muffin and Chocolate Brownie are
considered as the best things at this café,
which aid in generating more and more
profit by company.
Prufrock A friendly and chilled atmosphere of a
place which leads to attract many users.
As a stress free atmosphere.
Coffee Aroma Prices are reasonable and situated at
middle of the London which attract large
number of customers without thinking
twice.
All these competitors give tough competition to cafe which affect their profit
generating capacity (Bovée and Thill, 2013). Thus, management have to formulate such
strategies through which they can sustain in market for long term. For this, Cafe
management have to make their interior design more attractive in which they can use
variety of themes just like use some cartoon and adventures themes and provide a
game zone also. Moreover, many people love to read books while drinking coffee. For
this, they can prepare a mini library at coffee shop through which their sales get rises as
per the time. Hup cafe have to prepare their objectives on the basis of all such factors
which are going to affect the business in negative manner. As by applying these types
of strategies at shop, more and more clients can easily be attracted towards them.
2

Along with this, their cafe shop is situated in between the city which can further help in
increasing their number of customers.
Part B Major Objectives for a business and nature of cafe
Every new business requires a vision and mission statement through which they
can provide a proper guideline to each and every employee of a company (Cobanoglu
and et. al., 2011). Management have to play their duty in appropriate manner, under
which they are going to set some number of objectives which are for long term and
short term purpose of a business. This provide a proper guideline for a business in
which whole task get done in an appropriate manner. This aid those in increase
profitability of a company and services become appropriate in nature. Following are
some of the objectives which are based on operation of Hup cafe which enable them in
done their work in most suitable manner.
 To provide quality services: It is a duty of an organisation to deliver quality
services to their users. Hup cafe have to ensure that they have are going to
deliver quality service to all users which are going to add with business.
 To increase profitability: As one of a major objective of any business is to
increase profit margin, management have to hire such employees which aid them
in increasing their profitability. Hup cafe have to implement methods and
strategies in order to increase their profitability (Ebert and et. al., 2014).
 To create a customer base: Another major objective of company is to create a
large customer base which help them in attaining more and more profit for
business. Hup Cafe have to deliver qualitied products to their user which aid
them in creating a large customer base for own betterment.
 To adopt change in frequent basis: One major objective of a company is to adopt
changes on early basis as per with time. It assists in learning about new
technologies in an appropriate manner.
 To contribute some value to society as well: Company is using society’s
resources and it is their duty to give back to society some value or profit which
they attain with the help of society. CSR activity have to be perform by the
company from their starting so that they can attain targets in an effective manner
3

as well as create a different brand image. It provides strength and company can
take the reward of competitive advantage (Griffin and Ebert, 2010).
These are several number of objectives which frame by senior management of a
company. This partnership entity would operate with the help of two partners whom are
agreed to share their profit and loss in defined ratios. This sort of ownership is helpful
to:
 Divide the profit and loss equally through which burden do not get incur on an
individual.
 Adequate decision can be carried out by taking the opinion of both of them and
beneficial decision get selected.
TASK 2
Analysis of external factor
Business environment is dynamic in nature and get changed changes according
to course of time. As for every new business and venture, it becomes hard for them to
deal with any harmful situation in a well-defined manner. For this they require some
number of experts who help them in executing the task in effective manner. Hup cafe
have to conduct a PESTEL analysis in which they are going to deal with many
unfavourable situations which are come under this external environment analysis
(Guffey and Loewy, 2012). As following is a brief description of all the limitations and
significance which are taking place in business environment (Hup Cafe).
Basis Impact Significance
Political: In every country,
government plays an
effective role at the time for
framing several policies
which are beneficial for
general people.
Many of the time
government lead to get
changed and another
government create several
number of issues for
operating business
properly. This made a
negative impact on
By maintaining appropriate
relation with every
government, parties take
care about the interest of
company. Hup cafe have to
maintain a relation with all
parties whether they are
ruling or not. This aid them
4

business. Hup Cafe have to
make their relation with
each and every party
properly so that their
business does not get
affected.
Change in tax policies also
create barrier in executing
the task in well-defined
manner. At Hup cafe
change in tax policies
enforce them to increase
their prices of product.
in increasing their profit.
As per the objectives of
company in which they lead
to accept the changes on
frequent basis they lead to
change their tax policies
according to requirement.
Legal: Court and other legal
bodies play an effective role
in conserving the rights of
users and employees.
There are various number
laws get framed by these
legal bodies.
Hup Cafe get bound to work
in favour of employees as
their associates can take
the benefit by this in
negative manner.
It is helpful to an
organisation in rendering
quality services in an
appropriate manner. As
there are vast number of
regulations which have to
be followed by Hup Cafe at
the time of operations.
Every country has
difference in their norms as
management have to aware
about them.
Social: Company
manufacture their products
as per the demand of
society and entities have to
aware about the trends and
The impact of society is
both positive and negative.
This thing depend on the
activity which performed by
a company. Hup Cafe
As consumers are the king
of market and management
have to produce only such
products which are for the
society’s benefit. Hup Cafe
5

demand of market so that
appropriate actions can be
taken for such things.
performing CSR operation
through which they can
make a positive impact on
society.
have to take this sort in
account and deliver only
quality products. As entity
use society resources and it
is their duty to return some
amount to users as well.
Environmental:
Environment is considered
as the scenario in which
business activities are going
to take place.
Hup café have to analyse
the environment in which
their business operations
are taking place. If they
correctly analyse the
environment of business
then they do not lead to
suffer any heavy loss. Like
they have to use such tools
and equipment which are
not going to harm the
environment.
It is important for any new
business to analyse thje
factors which present in
environment so that policies
can be framed according to
them. It is essential for Hup
café to work in an
appropriate manner by
utilising all resources
properly.
Technological: In every
business, there is new
advancement always took
place. This is consider as
important function for a
business as in growth
technology aid in producing
adequate quality with
appropriate quantity.
Impact by technology of
Hup café is both: positive
and negative. As every
aspect have some
advantages and limitations
as well. Hup café can use
new technology of
machines and advance tool
promotion in which they can
produce more quality
products and can reach
wide area of customer. But
Technology significance is
more as this help them in
increase their production
and generate more revenue
so that more and more user
get attracted towards them.
6

continuous change in
technology require more
fund to get invested. As
management have to work
on negative factor and
utilise positive scenario
more appropriately.
Economical: For every new
business, it is important for
them to analyse economy of
such country in which they
are going to work. As in
case of unfavourable
situation, business is not
going to earn more profit for
future.
Positive and negative
impact of economic factor is
depend on the situation of
country. High inflation rate
lead to affect business in
which company have to
sale out their products on
high prices or vice versa.
Hup café have to analyse
this factor as they are going
to start a business with a
clear objective to generate
more and more profit.
Its significance on business
is more as this is also a part
of external factors whose
analysis consider as most
important part of business.
Management have to adopt appropriate steps through which they can deal with any
situation of business environment and become able to generate more and more profit
for the future growth (Hair, 2015). All these factor analysis is more essential than
anything to understand the situation more. These factor made vast impact on business
and their analysis is helpful in establishing such sort of organisation in which profit can
generate easily (Laudon and Laudon, 2011).
TASK 3
Part A Launching of event for introducing at market
Launch event for Hup café is must as this is helpful for them in introducing
themselves in front of others. This require a big launching programme where large
7

number of social gathering is consider as best part for success. In this function, all
quality products name and rates are going to display on screen. As well as the
new things also going to described in this live concert (Leach, 2011).
An interesting facto for this event is it will going to launch near to sea side where
individuals can feel a sense of feeling. But another major advantage for this is
going to take place on weekends so that maximum number of people used to
prefer go there with a feeling of picnic. Passes are available at reasonable rates
with serving some food sample as for taste. Ed Sheeran is one of the famous
music artist and a famous youth icon. This provide support in gathering of huge
crowd for the event as well as management easily launch their event. But for sure
a proper security is required as international celebrity is coming. It takes huge
money to invite him as a famous music composer. Moreover, serving sample of
food is a reason to measure the choice of user who are going to consume them.
As with all these things, there are appropriate management of environment also
where such practices are adopt who do not harm environment. This also create a
feeling of responsibility. In business presentation corporate social responsibility
concept also described which differentiate company from others (Omachonu and
Einspruch, 2010).
Part B Producing a budget
Appropriate amount is required to carry out this activity. Both partners have to spent
some amount and prepare a budget in which they are going to decide that what
amount is require to implement this event programme (Osterwalder and Pigneur,
2010). It is an important part for Hup café where they can easily manage all the
activities of business. Budget creation is a task which is necessary for business to
manage their activities in an adequate manner. Along with this all the expenses of
project are also going to described through which company can easily allocate and
cut down the areas which do not require more amount to get invested. Hence,
budget creation is must for business where they can manage all operation of
business in more and more appropriate manner. Following is a budget for an event:
Particulars
Event
launch
8

Amount 121000
Elements for
event Cost
Venue 1000
Catering 5500
Advertising 200
Decoration 150
Transportation 200
Anchor 300
Guest (Ed
Sheeran) 50000
Table 10000
Chairs 5000
Equipment 15000
Corporate
social
responsiblity 10000
Total 97200
Net position 23800
Budget available and the saving from event are as follow:
Budget
available
Expenditure 97200
Remaining 23800
Guest invitation require more and more fund which is so costly for the partners. As
this is helpful for them in attracting more and more youth. Event launching is a
major thing from which most number of users can ascertain but in such relation,
organization have to keep more focus on such celebrity which are in trend (Peteraf,
Gamble and Thompson, 2014). A famous celebrity launching a coffee shop which
means there is no bargaining with quality of products. Moreover, they also have to
signifies that company will going to engage in corporate social responsibility. They
have formulate a objective in which they are going to provide education for more
than 3 children hence this is a small café shop which do not have huge amount to
invest but be consider as one of a major thing for promoting the business and
create a positive image in front of their users. This factor is helpful for them in
increasing their sales as per requirement of time. Thus, this aid them in Hup growth
9

and development which only get done by generating more and more revenue as
compared to cost which is going to incur on their manufacture. Along with that they
also have to take care about their stakeholders whom contribution is more than any
other. For this they have to provide reward to their employees which lead to
motivate them and encourage in performing their duties in a well appropriate
manner and always support organisation.
TASK 4
Use of various marketing concept in a business
Marketing objectives: These are some number of goals which frame by an
organisation for attaining the potential customer for the products which deliver by
them in keen competitive market world. Management have to frame these
objectives on the basis of SMART factor in which targets have to be specific in
nature with measurable content in which a numeric value have to get set. Along
with this goal should have to be attainable in nature which can be attain in
minimum time period. Hup Café have to prepare their marketing objectives in
which they can create a brand awareness to all of their potential users (Robyt,
2012).
As company is offering quality products at reasonable price with good
atmosphere, where customer can remove their stress by reading books or playing
games. Along with that they also promote CSR in which they are going to promote
education for three poor children. As a one of an objective of a company is to
serve quality products and increase profitability which only get done through
attracting wide number of users by offering various products which are net at
market and do not harm the environment. This is helpful for them in creating an
appropriate brand image for gaining a customer base. Hup café have to be on
their words which means they have to fulfil all objectives which formulate by three
partners of a company.
Target market: Another major aspect is to target appropriate, market which can
support in generate more and more revenue for a business. As company design
their interior on the basis of some games and built a library also. This signifies that
10

they are completely focused on the young group of people who can easily reach
over at café shop. In night they serve sinner for all the users who want a luxury
feel but this is not done. Their luxury attire is for all the users who have low income
level. As their prices are reasonable and can easily afford by every group of
society. Company target market is attract youth because their interest in such sort
of activities are high. As by target appropriate market company is going attain all of
their objectives in less time. As per the objectives in which profitability is only
matter and for this choose a right target market is necessary. This is helpful for a
company in attain their targets and objectives which are for short term and long
term (Wilson, 2014).
Marketing strategies: Choosing a market is an important part of company
objectives accomplishment. Management have to formulate appropriate strategies
through which they can ascertain their goals in less time manner. Appropriate
strategy is going to aid in accomplish all objectives of Hup café. Reference café
shop is targeting youth in which they have to communicate with them by using
adequate method. For this, social media is consider as major thing on which
promotional activity can take place. Mostly user activate their social media on
regular basis as by adopting this, management can take their opinion and do the
same as according to demand of target youth. Hup café can use social media as a
platform of promotion where they can deal with wide range of customer as well as
by advertising in newspaper they are going to attract more and more users. As
one of an advantage for them is established a coffee shop in between of city
where everyone can see and attracted towards them. As a service sector
company, management have to use 7p’s of marketing through which they can
make aware about goods and services which render by café shop.
Marketing mix: Company can use this tool to make their product introduced at
market and many customers are going to attract towards Hup café design and
offers. This get done through a tabulated format (Extended Marketing Mix (7P's).
2015):
11

(Source: 4Ps of Marketing. 2017.)
Element Description Justification
Product A product is a good or
services which leads to
aid in satisfy a user. This
is important because
without any product none
of the activity take place
and process of profit get
started with production of
good.
Research signifies that
company products are
different from others and
have capability to satisfy
any users in an
appropriate manner.
Price Another major element is
rate of product which
Hup café settle their
prices reasonable for
12
Illustration 1: 4 p's of Marketing, 2017

deliver by a company. It
helps in make a clear
differentiation between
one organisation good to
other.
each course of meal and
coffee products which
offer by them. This
research signifies that this
factor is helpful for them in
gather wide range of
users. Hence,
management have to
maintain their prices level
and try to set a level in
which they do not lead to
gain more from their
users. Along with that
wastage of resources
have to be minimised
which lead to hike up
prices.
Place The business’s product is
going to be sold
completely off line. They
are not adopting any on
line facility but they have
a page where user can
visit and share their
experience.
Research shows that
many customers will want
a stress free services
where they do not wait for
more hours. Company
provide a facility of home
deliver but for near places
within 20 minutes.
Promotion Use aggressive
promotion technique
which lead to attract more
and more chosen market
segment. Social media is
a best platform this sort of
Youth wants a place
where they can met with
their gang and enjoy their
daily routine activities and
chill. This place is best for
them and for this social
13

business. media promotion is best.
CONCLUSION
For launching any new business idea in market, appropriate steps have to choose
by an entrepreneur through which they can accomplish all targets which frame by
them. For this appropriate objectives have to get frame in which company have to
draw their guidelines in which whole business activities lead to take place. For
attaining them, entity have to adopt the path of SMART concept because targets
should have to be in adequate manner. Along with this some amount of fund is also
require for business. Management have to use appropriate steps through which
they can control their cost. By targeting right market and adopt appropriate
strategies management lead to ascertain all goals on time. This concept is helpful
for a company in managing their targets. Moreover use of marketing mix is also
important.
14

REFERENCES
Books and Journals
Anderson, D.R., Sweeney, D.J. and Williams, T.A., 2011. Essentials of modern
business statistics with Microsoft Excel. Cengage Learning.
Anderson, D.R., and et. al., 2014. Essentials of statistics for business and economics.
Cengage Learning.
Blumberg, B.F., Cooper, D.R. and Schindler, P.S., 2014. Business research methods.
McGraw-hill education.
Bovée, C.L. and Thill, J.V., 2013. Business communication essentials. Pearson Higher
Ed.
Cobanoglu, C., and et. al., 2011. The impact of technology amenities on hotel guest
overall satisfaction. Journal of Quality Assurance in Hospitality & Tourism, 12(4),
pp.272-288.
Ebert, R.J., and et. al., 2014. Business essentials. Pearson Education Canada.
Griffin, R.J. and Ebert, R.W., 2010. Business essentials.
Guffey, M.E. and Loewy, D., 2012. Essentials of business communication. Cengage
Learning.
Hair, J.F., 2015. Essentials of business research methods. ME Sharpe.
Laudon, K.C. and Laudon, J.P., 2011. Essentials of management information systems.
Upper Saddle River: Pearson.
Leach, P., 2011. Family businesses: The essentials. Profile Books.
Omachonu, V.K. and Einspruch, N.G., 2010. Innovation in healthcare delivery systems:
a conceptual framework. The Innovation Journal: The Public Sector Innovation
Journal, 15(1), pp.1-20.
Osterwalder, A. and Pigneur, Y., 2010. Business model generation: a handbook for
visionaries, game changers, and challengers. John Wiley & Sons.
Peteraf, M., Gamble, J. and Thompson Jr, A., 2014. Essentials of strategic
management: The quest for competitive advantage. McGraw-Hill Education.
Robyt, J.F., 2012. Essentials of carbohydrate chemistry. Springer Science & Business
Media.
Wilson, J., 2014. Essentials of business research: A guide to doing your research
project. Sage.
Online
4Ps of Marketing. 2017. [Online]. Available through
:<http://www.legalwatercoolerblog.com/tag/4ps-of-marketing/>. [Accessed on 7th
September 2017].
15