Business Essentials Essay of Hup Cafe
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Added on 2020-07-23
Business Essentials Essay of Hup Cafe
Added on 2020-07-23
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Business Essentials
ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1Part A Suitable business idea for establish and implementing new project....................1Part B Major Objectives for a business and nature of cafe................................................3TASK 2............................................................................................................................................4Analysis of external factor........................................................................................................4TASK 3............................................................................................................................................7Part A Launching of event for introducing at market...........................................................7Part B Producing a budget......................................................................................................8TASK 4..........................................................................................................................................10Use of various marketing concept in a business................................................................10CONCLUSION.............................................................................................................................14REFERENCES............................................................................................................................15
INTRODUCTIONOne of a major objective for every company is to provide quality services to theirusers. This aid an organisation in attaining targets and objectives which are formulatedby senior management. Every new business contributes some values in an economy ofa country which is beneficial for them to sustain in market for long term. Thisassignment is based on business essentials which are required for opening of a newCoffee shop. For this, entrepreneur require a place, method through which businesswould 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 ofobjectives 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 thingand for this, management have to use appropriate steps. This present report is basedon the Hup Cafe which is going to establish a new venture at Park London Street. TASK 1Part A Suitable business idea for establish and implementing new projectHup Cafe is going to start their new coffee shop at London street in the centre ofthe city though which they can attract large number of customers. They are going tointroduce a new range of products and many new sorts of coffee for their users. This isconsidered as USP for business. Along with this, they have also plans to provide homedelivery service within 15- 20 minutes so that company can gain the advantage fromthis by defeating their rivalries. As this is helpful in gaining the competitive advantage ofbusiness (Anderson and et. al., 2014). Their idea is not new because many coffee shops are already running butmanagement have to choose appropriate techniques through which they can attractlarge number of customers. This lead to support them in met all the demands of theirusers on time. As this is helpful for long term sustainability of business. Their range ofproducts are: World coffee, Ginger Mojito etc. All these are new products at market andthus this is a new and innovative thing for for each and every user of product. Theirproducts are good in quality and also aware about health problems and issue of their1
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 operationsenforce the company to use suitable methods through which they can generate moreprofit than others. Competitors Unique Selling Proposition Colonna & Small Their interior is attractive which provide asense of relief with an entrance over atshop. Kaffeine Mango muffin and Chocolate Brownie areconsidered as the best things at this café,which aid in generating more and moreprofit by company. Prufrock A friendly and chilled atmosphere of aplace which leads to attract many users.As a stress free atmosphere. Coffee Aroma Prices are reasonable and situated atmiddle of the London which attract largenumber of customers without thinkingtwice. All these competitors give tough competition to cafe which affect their profitgenerating capacity (Bovée and Thill, 2013). Thus, management have to formulate suchstrategies through which they can sustain in market for long term. For this, Cafemanagement have to make their interior design more attractive in which they can usevariety of themes just like use some cartoon and adventures themes and provide agame zone also. Moreover, many people love to read books while drinking coffee. Forthis, they can prepare a mini library at coffee shop through which their sales get rises asper the time. Hup cafe have to prepare their objectives on the basis of all such factorswhich are going to affect the business in negative manner. As by applying these typesof strategies at shop, more and more clients can easily be attracted towards them.2
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