Business Essentials Assignment - Dunkin' Donuts
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Added on 2020-10-04
Business Essentials Assignment - Dunkin' Donuts
Added on 2020-10-04
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Business Essentials
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1PART A Rationale for business idea......................................................................................1PART B Key business objectives...........................................................................................2Ownership........................................................................................................................................2TASK 2............................................................................................................................................3External environment analysis...............................................................................................3TASK 3............................................................................................................................................5PART A Describing a launch event.......................................................................................5PART B Budget for event .....................................................................................................5TASK 4............................................................................................................................................7Marketing objectives .............................................................................................................7Target Market ........................................................................................................................7Marketing Mix........................................................................................................................7TASK 5............................................................................................................................................8Operational business decision...............................................................................................8Tactical business decision......................................................................................................8Strategic business decision.....................................................................................................8TASK 6............................................................................................................................................8CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10
INTRODUCTIONBusiness planning is analysed as most appropriate and formal statement which involves aunique concept, objectives and ideas for establishment of new business operations. Present reportis also based on analysis of new business idea for setting up Dunkin' Donuts franchise in Londonnear University campus. Different essential aspects related to development and implementationof new business plan is also discussed in this report. An appropriate launch event of celebrityendorsement for new business is also planned and stated in this report. TASK 1PART A Rationale for business ideaAppropriate research and analysis is required for development and generating newbusiness idea. In this, new business idea is to open a franchise of Dunkin' Donuts nearby theuniversity campus for attracting students (Scarborough, 2016). The location of the franchise willbe in London nearby the university campus and will have proper sitting arrangement forcustomers. Dunkin' Donuts is an American global doughnut company and coffee house whichoperates in food and beverage industry. It has now become one of the largest coffee and bakedproducts chain across the world. Business will be operated both in high street and online, as ithelps in increasing number of customers. This business idea is unique due to increasing trend ofcoffee consumption between students and adults. Appropriate online delivery system will beprovided for customers inside the campus and nearby places. The chain's products includedoughnuts, bagels, other baked products and a variety of hot and iced beverages. Increase trendof fast food products among young customers is the key factor which provide success to thisbusiness idea. Online purchase facility, free delivery and low or discounted prices will help ininfluencing students to buy products.Below given are the competitors of new business franchise of Dunkin Donuts.Krispy Kreme StarbucksIt is also an American doughnut company whichhas its franchise in London and provide similarproducts. It is major rival brand as company aimsto influence customer by offering products at lowStarbucks is also considered as majorcompetitors brand for Dunkin' Donutsbecause company also provides similarproducts for customers. It has wide1
prices. recognition among customers in Londonwhich create challenges for business toattract clients.Online buying facilities are also provided byKrispy Kreme Coffee House. Starbucks mainly has a large customersbase in London due to its quality and strongbrand presence in market.PART B Key business objectivesTo provide easy accessibility of quality food and beverage products to young customersat competitive prices and increase sales revenue as compared to competitors. Providingproducts at competitive prices will help in sustaining competitive position in market. To be always the desired place for great coffee beverages and delicious complimentarydoughnuts & bakery products to enjoy with the family and friends. This objective isimportant for company to emphasize on innovating products to meet the demand ofcustomers (Guffey and Loewy, 2012). To develop wide network and distribution channel at different geographical areas inLondon and to increase awareness of brand among customers. Developing a widedistribution network will provide support in increasing brand recognition, customer baseand profitability.To develop the best ambience and sitting arrangement for customer in outlet in order tomake their experience better towards brand. Appropriate sitting arrangements isimportant to attract groups of students and other family customers.Ownership A partnership is considered to be as formal arrangement in which two or more partiescooperate in order to manage and operate a business. Sole trader is type of business structurewhereby one individual runs and owns the business. Employers is legally responsible for all theaspects of their business and are personally liable for their business finances (Gamble,Thompson and Peteraf, 2013). The new business idea will be introduced in the form ofpartnership because it helps in getting financial resources required for franchising. Franchise ofDuckin's Donuts cafe will be introduced in partnership. In contrast, sole proprietorship containshigh risk of losses and employers are only liable for their decision. In partnership, decision willbe taken by partners by mutual discussion.2
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