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BUSINESSESSENTIALS INTRODUCTION

   

Added on  2019-12-18

18 Pages6338 Words223 Views
BUSINESS ESSENTIALS

TABLE OF CONTENTSIntroduction......................................................................................................................................3Task 1...............................................................................................................................................3Part A Business idea....................................................................................................................3Part B New business objectives...................................................................................................4Task 2...............................................................................................................................................5PESTLE analyses.........................................................................................................................5Task 3...............................................................................................................................................8Part A Launch Event....................................................................................................................8Part B Producing budget..............................................................................................................8task 4.............................................................................................................................................10Objectives of marketing.............................................................................................................10Target markets...........................................................................................................................11Marketing strategies...................................................................................................................12Marketing Mix...........................................................................................................................12Task 5.............................................................................................................................................14Task 6.............................................................................................................................................15Conclusion.....................................................................................................................................15References......................................................................................................................................172

INTRODUCTIONOne of the hardest part of business is to coming up with new ideas and innovativeproducts feature. This is the only way that can attract customers towards the brand otherwisecompany may suffer from financial difficulties. Before setting up business, new entities domarket research, collect information about trends and demands of consumers. This is an essentialactivity that supports in identifying the market potential and helps in making strategies forsuccessfully establishing the organization in such environment (Yoneshiro and et.al, 2013).Present report will discuss the business idea of opening nigh club in London. The name of thenight club is “We Night”. Current assignment will discus the business idea of setting up a newnight club in the city. Objectives of new firm will be illustrated in this study. In the second partof report, budget will be prepared for the business. Marketing strategies, target market andmarketing objectives will be described in this assignment (Honig and Hopp, 2016). TASK 1Part A Business ideaClear vision and mission is very important for starting up a business in the market. In themodern business world people are too busy in their life they do not get time to spend some timewith their friends and families. London is the city which is known for its nights and attraction. Inthe night time people like to go in clubs for getting relaxed. Especially on Friday and Saturdaycity looks like heaven (Tarhini, Ammar and Tarhini, 2015). Its statistical fact that approx 300million visitors in a year come in the city from 8pm onward just to see its attraction in night.Thus, opening a night club is the great business idea and it can give huge success to the owner.We Night club is having a business idea to offer quality services to customers. Being a new startup firm, We Night is emphases on needs of consumers and want to make their night memorable. Cited firm is aiming to offer cold drinks to guests, offering fast food to the clients. It willhave 24 hour license of club (Wirtz and et.al, 2016). We Night is planning to keep entrance feefor all visitors but the person who will give their email address will get free drink, 25% discount.Students will get 50 discounts if they bring other students too. In addition, there will be many3

games like poker and others that would like by the audience. There will be presence ofprofessional photographer who will click the movements of nights (Maharaj and Brown, 2015). Business is going to operate inMill Street in the glamorous heart of London's Mayfair.This place is heart of London and most of the visitor come here just to enjoy night attraction ofthis location. Existing night clubs such as Maddox club, Jalouse, Movida etc. are very famous inthe UK but We night ideas are unique and innovative. It will not only run on Friday and Saturdaybut also it will open 24*7 hours. Apart from this, discounts and fast food facilities of new firmwould be much better as compare to existing clubs (Jones and Rhoades-Catanach, 2013). Therewill be announcement of couple of the day who will get some special price by the company. Oneday will be for Apart from this club will take care of its clients and will provide them space sothat they can enjoy their night and can get relaxed. There will be dance facility too so that peoplethose who like to dance can move here freely (Hatten, 2015). Competitors of We Night clubCompetitorsFeaturesMaddox clubBrand name and good command over market.JalouseVisiable location and dancing facilityMovidaAttractive food and drinks, good presenceWe Night club is planning to hire skilled people and young generation those who haveknowledge about the latest trends. Young people can serve better services to visitors and canmake them satisfy too. By this way cited firm will get established in the market soon. Companyis aiming to provide the best facilities at lower investment. 25-50% discounts, free drink facilitiesare unique and it can attract more people towards the night club (Alexander, 2013). It willprovide fresh drinks, fast food facility, dancing floor to visitors so that they can get happy andlike the environment of the place. Part B New business objectivesWe Night club is having innovative ideas that can make it differed from othercompetitors. Objective of cited firm is to:To attract number of visitors towards We Night club.To provide them facility where they can get relaxed and feel enthusiastic. It will makethem happy in the place.4

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