Setting of New Food Business : Report

Added on - 22 Jul 2020

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BUSINESS ESSENTIALS
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1PART A.......................................................................................................................................1PART B.......................................................................................................................................3TASK 2............................................................................................................................................4PESTLE analysis.........................................................................................................................4TASK 3............................................................................................................................................6Part A:........................................................................................................................................6Part B...........................................................................................................................................7TASK 4............................................................................................................................................8Marketing objectives...................................................................................................................8Target market..............................................................................................................................8Marketing strategies for each target market...............................................................................9Marketing Mix..........................................................................................................................10TASK 5..........................................................................................................................................11Types of decision.....................................................................................................................11TASK 6..........................................................................................................................................11Element of supply chain...........................................................................................................11CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13
INTRODUCTIONBusiness is a form of commercial activity done in order to fulfil economic wants ofpeople to earn profit. It is known as essential aspects of any organisation which can help them todetermine exact demand of customers from the company. It is become more necessary part ofmodern era. It is associated with constant and day to day production or distribution of productsand services which can satisfy customers needs and wants. With the objectives of attainingmaximum profit under uncertain market situation they are implementing various innovative toolsand techniques to get more valuable results (Hair, 2015). This project report is based on settingof a new business which is associated with wide variety of foods. The main aim is to target bothstudents or young people. It also covers various important aspects, if its get success the nexttarget of the sole trade company is to go with further expansion. It will encourage by thinkingcreatively and it must be realistic. Some aspects of this report is based on assumption which isrelated with conducting a catering services or offering their franchises to other parties to getmaximum profitability and growth.TASK 1PART AAs, it has been observed that, people are becoming more foody in current modern time.They are showing plenty of interest in tasting new variation in food at different food stalls andrestaurant. There are so many types of fast food serving restaurant which is offering largeamount of delicious food to their customers according to their taste and preference. As, thissector is more complex in global collective of diverse businesses that are already dealing in morefood that is consume by the maximum population. It seems to be biggest challenge for setting ofnew businesses in same sectors which is related with food. They are various companies which isdealing in same businesses I.e supply of wide variety of food to their customers. It will bedifficult to cop-up them to face tough competition against them (Wilson, 2014). By keeping allthese situation in mind a well organise business plan is required to be implemented which isrelated with different variety of foods. It do have different variety and best quality of feature ascompare to other food restaurant business.Description of the business:1
Food business is more effective and innovated sector in now a days so, as per the currenttime period a new Food Van is needed to be formulate which is having large variety of multi-criteria in foods. The quality and taste are relatively more attractive and tasty as compare toother. This business will not require large amount of capital for setting up a stalls or outlets(Laudon and Laudon, 2011). The chance of getting maximum return will be high if customersare attracted with the quality of food.Name of the business:TANCU SOLE TRADER”It is a small sole trade company which is operating as a Van that is making different typesof food for the customers.Location:According to the nature of business, the best areas would be outside mall, Tourist places,universities and other crowded location. It is done so because of capturing wide range ofcustomers towards there business. It can be both 'online' and 'high street' would be suitableoption for this particular food business.Reason of selection:With the choose of this specific business, it seems to be more profitable because it getstart with minimum cost and provide maximum output. It is easy to capture large part ofpopulation. One of the important reason is that it can be operate in any particular season. Byknowing all these quality feature of this business is seem to be good sign of getting more successin coming time. Some special characteristics of this van is that, it has “self-cooking” facilitiesoption which make them different form other street stalls (Anderson and et. al., 2014). Thisparticular business is having many other feature that can meet out the demand of customers.Competitors:Name of the competitorsFood typesReasonTutto Food companyGoodies from mussels towild mushrooms.It is basically, related with parella. Thisfood van pioneers have wide branchesout of toasted sandwiches.Balkan BurgersSpecial roll to soak upwith all the juices,topped with tomato,cabbage and onions.It is one of the fastest food truck tomeet customers needs andrequirements.2
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