Business Opportunity in Waitrose Bakery

This report discusses the business opportunity in Waitrose Bakery and its impact on trends. It explores the use of cognitive network system and the adoption of new measures for offering products and services online. The report also covers the STP model and proposes a new product, the Vertical Garden, along with the emerging trends in the retail sector.

BUSINESS
OPPORTUNITY
PROJECT

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Introduction of sector and mega trends ......................................................................................3
Entrepreneurial business opportunities arising as result its impact on trends ............................3
STP Model .................................................................................................................................4
Proposal of new product along with trends ................................................................................5
CONCLUSION................................................................................................................................7
REFRENCES...................................................................................................................................8

EXECUTIVE SUMMARY
There are some mega trends within retail sector, organisation is looking forward for using
cognitive network system within their working. In addition to this, Waitrose bakery is planning
to adopt new measures with the assistance of cognitive network which assist them in offering
products and services online within more efficacious and attractive way.
This report is based on Waitrose bakery which was founded in 1904 and its headquarter
is located at Bracknell, Berkshire, United Kingdom. They are serving in UK within this they
have approx. 344 stores. Product and services offering by them in attractive manner that will
leads them towards more growth as well as development.
In this report SWOT analysis will be conducted by Waitrose bakery section as it will help
them in analysing their strength, weakness, opportunity and threats. It include internal and
external both analysis because strength & weakness are internal. On the other hand, opportunity
and threats are external. Apart from this, STP model will also going to be implement assist
marketers in crafting their message as well as in developing tailored and relevant message which
engage segment, target audience. Here, STP stands for segmentation, Targeting and positioning.

INTRODUCTION
Business is an organisation or firm who offer goods and services to people in return
particular amount of money will be paid (Lacerda, Ensslin and Ensslin, 2014). It is important
for an organisation to offer innovative goods and services to their customers because it will result
in generating high revenue. In addition to this, business opportunity refers to the situation by
which corporation can earn high profit as well as it can be said as investment that enables buyers
to begin business. The present report is based upon Waitrose bakery which is British
supermarket chain which introduce in 1904 as well as have approx. 325 stores around the world.
This report will further going to discuss impact of mega trends as well as emerging trends on
market. Moreover, entrepreneurial business opportunities arising will discuss with there impact
on trends.
MAIN BODY
Introduction of sector and mega trends
This report is based on retail sector organisation as it is different from other sectors
because they don't create products by their own. Instead of this, they purchase goods and services
from manufacturers in bulk and sold to consumers at markup. Waitrose Bakery is part of British
Supermarket which was founded in 1904 and its headquarter located at Bracknell, Berkshire,
United Kingdom. Area serving by them is United Kingdom within this they have approx. 344
stores. They are offering products and services within more attractive way that will leads them
towards more growth as well as development.
There are some mega trends within retail sector, organisation is looking forward for using
cognitive network system within their working (Kerzner and Kerzner, 2017). Motive behind its
implementation is to operate in more effective manner and increase their shares as well as
position within UK. In addition to this, respective organisation is planning to adopt new
measures with the assistance of cognitive network which will help them in offering products and
services online within more effective as well as attractive manner.
Entrepreneurial business opportunities arising as result its impact on trends
Business opportunity is that by which organisation will be able to generate profit within
market for getting competitive advantages. For getting business opportunities it is important for
Waitrose to be innovative in market as well as have to launch some innovative offering which

will able to fulfil requirement of customers. Launch innovative product will be possible for
respective organisation when there staff member have out of box thinking and they will be able
to determine targeted market and customer to who product will supply. Thus, within retail sector
emerging trend is offering products and services online (Kerzner, 2019). Moreover there is wide
relation within emerging trend and business opportunity which is discussed below :-
 Within retail sector level of competition is high at every aspect like price, quality and
product differentiation which totally depended on level of competition. It is important for
Waitrose to develop something innovative as well as unique for gaining competitive
advantages. For instance: Business firms commonly faces the issue related to managing
the plastic wastage because it have negative impacting on environment. To get rid of such
issues, Waitrose is an organisation which investing an amount of 1 million euro within
their business procedure to avoid the plastic wastage within innovative manner (Waitrose
to invest £1m in innovative projects tackling plastic waste, 2019). If production of
company will polluting environment then it will create negative image in business
environment no matter how they are spending on CSR activities. Thus, for business firm
it is important to promote brand image and their product in appropriate manner.
 Waitrose have to determine situation and events that can impact performance and
productivity of company in future so that operations of company will not affected by
them. For business firm innovation within offerings is necessary because external factors
get change and these can be handle through innovation. For example: Within current
years, loyality card trnd is rising as customers saves their money in shopping by using
these loyalty cards. For getting high level competitive advantages respective organisation
have to introduce their own MyWaitrose loyalty card for customer attraction and
retention (Waitrose ramps up loyalty card in new challenge to Tesco, 2019). However, In
future this innovation may not work because competitors firms of the Waitrose are also
using similar strategies for attracting the customers. As the firms are developing similar
strategies, the loyalty card scheme by Waitrose becomes mediocre in nature.
Analysis of existing business for evaluating readiness and propensity
Waitrose implement SWOT analysis for determining the internal capabilities which are
discussed below along with the examples:
Strength Weakness

 Respective company offer food, liquor
etc. to royal families Of United
Kingdom as they can supply goods to
royal house of Queen. This is major
strength of company and give positive
impact on brand image.
 Waitrose have more than 50,000 staff
within their 352 stores around UK
which result in high chances of profit.
 Waitrose critise on the article which
was published in magazine that they are
providing free tea and coffee to loyalty
car holders but then company stated
that the customers needs to provide the
proof for getting the free Tea and
Coffee.
Opportunity Threats
 Firm have opportunity to expand their
product portfolio as they are dealing in
groceries.
 Increasing competition from E-
Commerce is biggest threat for
Waitrose because they are new in
online market.
STP Model
In marketing, STP stands for segmentation, targeting and positioning. This model assist
marketers in crafting their message as well as in developing tailored and relevant message which
engage segment, target audience. It is important for Waitrose Bakery to determine their target
market first before coming up with new product in market area (Fuentelsaz and et. al., 2015).
STP model will be helpful for respective organisation in making strategies accordingly as
Waitrose is launching Vertical garden. In relation of this explanation of respective model are as
follows :-
 Segmentation – It is related to segmentation of market based on the products which
company will going to launch. Waitrose in launching vertical garden product whose
segmented market will be the area which affected by pollution. Respective innovative
product utilise by company for converting CO2 and other harmful gases in oxygen so that
pollution can minimise. Along with this,such innovative product also utilise for
decoration purpose within house as well as offices. Segmentation done on basis of several

aspects such as demographics, psychographics, lifestyle, belief and values, life style ,
geography, language, behaviour, usage level and many more.
 Targeting – After segmentation, now company come towards targeting in this company
target market to whom there product will be marketed (Sadgrove, 2016). In relation of
Waitrose there target market will be corporate and households. Along with this respective
organisation donate charity money to society for rising level as well as the vertical garden
comes under the greenery section by the organisation can expand their CSR activities.
Furthermore, this product utilise in house result in making room more coll as well as act
as barrier for dust. AC utilisation also become low which result in low carbon emission
within society. Waitrose can also contact to the government for placing garden on road
side also. Customers are target by considering several aspects such as size, differences,
money, accessibility and so on.
 Positioning – It is related to image of company and it products within customer mind. If
brand image is not good then it will result in decreasing sales as well as loss for business
firm. Thus, Waitrose have to determine need of customer before launching new product
within market area so that they will identify need and offer products in effective manner
which result in customers satisfaction (Milosevic and Martinelli, 2016). Waitrose have to
convey vertical garden importance to their customers so that its positive image will
develop within their mind which will be beneficial for improving product performance in
the future time period.
Proposal of new product along with trends
In present situation, pollution is one of the major issue which facing by society,
government and business because it have negative impact on health as well as wealth of people.
Thus, to cope up with this situation of challenging pollution Waitrose Bakery is planning to
expand there product portfolio by utilising diversification strategy (Sundström and Radon,
2015). New product they are planning to launch is Vertical garden within that plants are grown
on the vertical stands by using the hydroponics technique. In United Kingdom, pollution is
increasing due to industrialisation as well as carbon emission vehicles. These vehicles and
industries are enhancing the level of methane, CO2 and several other dangerous gases within the
Ozone layer and environment. Because of such gases several issues are increasing related to
breathing. In UK, government is encouraging citizen and business to decrease vehicle use as

well as other energy products which result in increasing pollution. Along with this, government
is encourage companies to increase CSR activities so that there will several benefits for society.
Vertical garden is the suitable alternative for the plants which can be planted on the roads,
homes and highways. The Waitrose have to ask to the customers for new product requirements
explanation are as follows :-
 In vertical garden any type of plants or flower can be garden so that Waitrose
management department will be able to identify customer preferences related to plants
and flowers that can be use within respective garden.
 After identifying preferences, staff members of respective business firm can visit
customers house for checking place on that garden can be placed. It is important for
management to consider place that can hold weight of garden.
 By Waitrose large number of products are provided in vertical garden range like Bloom
wall, Green wall, pocket plan and many more that can attract customers for new
offerings.
Apart from this there are several trends in market explanation of these are as follows :-
 In 21st century on going trend is to grow more plants as well as trees for protecting
environment and Ozone layers. Moreover, there are numerous organisation who grow
plants in return of every product which purchase by customers (Young, 2016). These
companies are Tentree, WeWood, Etnies etc who grows the plants when customer buy
any product from them.
 In modern world organisations are focusing on the way which reduce global warming as
well as everyone is contributing in environment protection from CFC's and other harmful
gases. Global warning can only minimise by growing more trees and plants because they
it converts carbon-dioxide in oxygen (UK pupils to join global strike over climate change
crisis, 2019). At present in UK, there are thousands of kids who had organised rally for
increasing awareness related to the global warming as well as increasing pollution as it
can be reduce by planting more trees (UK pupils to join global strike over climate change
crisis, 2019). The vertical garden provide assistance by planting the trees on the walls and
other vacant places.

Illustration 1: Illustration 1: Infographic of vertical garden
Vertical garden any type of plants or flower can be garden so that Waitrose bakery
management department will be able to identify customer preferences related to plants and
flowers that can be use within respective garden. Along with this, such practices have wide
impact on working of company as it result in removing carbon footprint, decrease dust from
environment as well as save money on groceries.
CONCLUSION
From above discussion it has been concluded that, for an organisation business
opportunity is important as it result in increasing profit and revenue. It is necessary for business
firm to identify business opportunity so they will be able to improve their performance as well as
productivity.
Business firms require to determine their internal capabilities as well as competencies for
attaining high market share. Because there internal capabilities will utilise by company in
launching their products and services. In addition to this, management of company have to

motivate their staff members for creative thinking so that innovative and new product will
developed for attracting more customers.
INFOGRAPHIC

From this infographic presentation it has been identified that, there are several
opportunities available for an organisation within market area. Thus, for grabbing these available
opportunities it is necessary for business firm to conduct SWOT analysis. Because it include
internal i.e., Strength & weaknesses as well as external i.e., opportunity & threat analysis. Apart

from this, when an organisation is coming up with some new product in market there is
requirement of conducting STP model because it will help in target customer as well as market.

REFRENCES
Books and Journal
Fuentelsaz and et. al., 2015. How different formal institutions affect opportunity and necessity
entrepreneurship. BRQ Business Research Quarterly. 18(4). pp.246-258.
Kerzner, H. and Kerzner, H.R., 2017. Project management: a systems approach to planning,
scheduling, and controlling. John Wiley & Sons.
Kerzner, H., 2019. Using the project management maturity model: strategic planning for project
management. Wiley.
Lacerda, R.T.D.O., Ensslin, L. and Ensslin, S.R., 2014. Research opportunities in strategic
management field: a performance measurement approach. International Journal of
Business Performance Management. 15(2). pp.158-174.
Milosevic, D. Z. and Martinelli, R. J., 2016. Project management toolbox: tools and techniques
for the practicing project manager. John Wiley & Sons.
Sadgrove, K., 2016. The complete guide to business risk management. Routledge.
Sundström, M. and Radon, A., 2015. Utilizing the concept of convenience as a business
opportunity in emerging markets. Organizations and Markets in Emerging Economies.
6(2). pp.7-21.
Young, T. L., 2016. Successful project management. Kogan Page Publishers.
Online
Waitrose ramps up loyalty card in new challenge to Tesco. 2019. [Online]. Available Through:
<https://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/9651754/
Waitrose-ramps-up-loyalty-card-in-new-challenge-to-Tesco.html>
Waitrose to invest £1m in innovative projects tackling plastic waste. 2019. [Online]. Available
Through: <https://www.edie.net/news/7/Waitrose-to-invest--1m-in-innovative-projects-
tackling-plastic-waste/>
UK pupils to join global strike over climate change crisis. 2019. [Online]. Available Through:
<https://www.theguardian.com/environment/2019/feb/08/global-school-strikes-over-
climate-change-head-to-the-uk>
WAITROSE LTD. 2019. [Online]. Available Through:
<https://www.royalwarrant.org/company/waitrose-ltd>

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