Business Essentials

Business Essentials

TABLE OF CONTENTS
INTRODUCTION...............................................................................................................1
TASK 1...............................................................................................................................1
A New business idea and its type.............................................................................1
B Objectives related with business...........................................................................2
TASK 2...............................................................................................................................3
Environment analysis for preparing strategies..........................................................3
TASK 3...............................................................................................................................5
A Launching of event.................................................................................................5
B Budget preparation for event.................................................................................6
TASK 4...............................................................................................................................7
Involvement of marketing concepts in business venture..........................................7
CONCLUSION...................................................................................................................8
REFERENCES..................................................................................................................9

INTRODUCTION
In a business, there are several major components that are helpful in order to
make things correct and execute all operations in an appropriate manner. Business
requires several factors which are helpful in order to make things correct and execute
each and every operation effectively (Omachonu and Einspruch, 2010). This project is
based on Mixture World which is one of a newly established coffee shops which
incorporated business in a partnership ownership. This assignment includes a new
business idea with its major objectives on which whole association will lead to work.
Along with this, it will also incorporate environment analysis which facilitate them for
making strategies. For presenting a newly establish business to target customers,
management have to launch an event which enables them in reaching to wide number
of users.
TASK 1
A. New business idea and its type
A new business idea is of coffee shop along with that management also provide
books so that user can spent some time over there by reading them. This type of
business is able to generate high profit by delivering quality based services at
appropriate price level. This is a private partnership sector business which was started
by two friends by contributing half of their money in order to generate profit. Mixture
World established at the centre of London at Park Street London in which company also
provides a facility of home delivery.
Mixture World will lead to accomplish all needs and demands of their customers
by targeting and selecting an appropriate group of users. Majorly they are targeting
students and young people and provide library facility as well as gaming zone where
they can relax for more than hours (Leach, 2011). This consider as an innovative way
through which they lead to maximise user and enhance their satisfaction.
Along with this, it get determine for Mixture World, that there competition in this
sector is high as in every street there are more than two to three coffee shops are over
there. Hence, major competitors of Mixture World are as follows:
Competitors Unique Selling Proposition
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Colonna & Small Interiors are appropriate and attractive as
well as targeting group is especially high
income level customers.
Zizzy Mango muffin and Chocolate Brownie are
the two best products out of which
chocolate brownie offering is sugar free.
B. Objectives related with business
Mixture World is a coffee shop in which they are providing better and effective
facilities to their customers. Their prices are low as compared to their competitors and
just to maximise customer satisfaction level. They have a target for maximise their
number of customers with 10% for next year but initially they have to adopt and frame
appropriate strategies to get sustain into wide keen competitive market. The four major
objectives of Mixture World are as follow: To provide quality services: Mixture World have to select only such number of
employees at workplace whom are capable in order to deal with customers
properly (Laudon and Laudon, 2011). It is essential for new business to provide
quality services as first impression is an only chance to increase number of
customers. To provide quality goods at reasonable rates: Another objective for a company is
to provide quality based products at reasonable prices. It is essential for every
new business to enter into a market and for that they need to use penetration
pricing strategy which support them to gain user faith and trust. To retain customer satisfaction: New business only become successful by
retaining their customer satisfaction. A satisfied user is one who will lead to make
its visit in an association again and again by repeat consumption. Thus, Mixture
World can retain their customers when they are going to satisfied them.
 To provide innovative products and environment: Mixture World can sustain at
market for long term by introducing some innovative products at market world.
For this relation, they determine a concept in which they provide library with
coffee products. Along with this, they also present a new taste of coffee in which
they support in innovate a product whose name is Strawberry ginger coffee.
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