Promotional Activities for Construction Business

This document discusses the range of resources required to launch a new venture in the construction industry. It covers the idea and target customer, tangible and intangible resources, and a credible proposal for launching a new venture. It also explores the skills and capabilities required for launching a new venture and how they can be acquired or developed. Additionally, it provides insights into promotional activities for a construction business, including personal selling, advertising, sales promotion, direct marketing, publicity, and public relations.

BUSINESS PLAN

TABLE OF CONTENTS
TABLE OF CONTENTS................................................................................................................2
INTRODUCTION...........................................................................................................................1
THE RANGE OF RESOURCES THAT WILL BE REQUIRED TO LAUNCH A NEW
VENTURE.......................................................................................................................................1
Defining the idea and the target customer...................................................................................1
Specific tangible and intangible resources that would be required by your chosen organisation
for the launch of a new venture...................................................................................................2
A credible proposal to launch a new venture in your chosen organisation.................................3
THE SKILLS AND CAPABILITIES REQUIRED TO LAUNCH A NEW VENTURE AND
HOW THEY ARE ACQUIRED OR DEVELOPED......................................................................4
Promotional activities..................................................................................................................5
Promotional activity plan for launch and pre launch...................................................................6
Cash budget for the pre launch of the business...........................................................................9
The appropriate legal form for the venture starting.....................................................................9
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................12

INTRODUCTION
A business report is essential to bring forth the strategies of the business that are put forth in the
organisation. A plan will amend the things that are to be performed and will stand as a unique
entity and that will stand to be a prosperous work of art which an organisation maintain. There
are ventures that are usually involved into businesses that are in a hustle to move ahead with the
growth prospect. This entire report will identify the onset of these factors and how far the
organisation can amend things to incorporate the actions. The organisation that is taken in this
regard is Wolfe Brothers Construction. This organisation is a veteran owned one with 25 years
of experience in the field of services related to construction. The report puts forth all the entities
of the organisation.
THE RANGE OF RESOURCES THAT WILL BE REQUIRED TO
LAUNCH A NEW VENTURE
Defining the idea and the target customer
A business venture is something that will bring about the entrepreneur ideas into existence. It is
necessary that there are different things that are to be cope up with every organisation and that is
a million dollar dream for all the organisations (Anwar and et.al, 2018). A business venture will
bring about all the creations into existence. A good business venture will be like the one that will
draw different opportunities and the potential of earning for every organisation as a people that
are dealing where will therefore be high. These opportunities will make the passion of
organisation to come true in the world full of challenges. This will also give a lot of flexibility to
accomplish the task. There are a set of different great business ideas that will help an individual
or an entrepreneur your to start was completely from the scrap. All the there are different
ventures that will lead to enterprises only thing that is meant to end compass is to learn different
things as well as to learn the market. On creating successful start towards the business venture
then every favouring aspect will fall in the way (Anwar and et.al, 2018). When it comes to
investors the right motivational prospects will probably deal with how far the organisation is
inculcating all the challenges that are taking place in and around the field of its operation. The
venture builders are probably involved in producing new companies which are necessary to
inculcate the growth prospects of the company's. There are the set of activities that are being
performed by the venture builders and they are identifying business ideas building teams finding
capital helping governing manage the venture and providing shared services. All these are
1

regarded to be those initial set of ideas that are being acquired by venture builders such that their
methodology will reflect in providing different talents that are required to build a venture (Tetteh
and et.al, 2019). These five ideas will be cloned into the model that our existing such that the
development with regard to research products as well as the exploration of Ideas will therefore
be committed. It is necessary to form into teams such that the background work and therefore be
provided and identified clearly on acquisition policies which are required for ventures to be
established. Capital is a must in order to facilitate the access that are to be given to polling ideas.
Everything lies and how far the organisation is being able to tackle with its investors and that is
where the entire essence of dealing with formulations life. There are different stages of venture
that venture builders usually focus upon. They include innovation, incubation and
commercialization to stop the methodologies are to explore the industry in which the
organisation as operating (Tetteh and et.al, 2019). It is necessary to identify the previous phase of
the organisation such that the areas of growth can therefore be identified and execution plans can
be put forth.
Specific tangible and intangible resources that would be required by your chosen organisation for
the launch of a new venture
The tangible Assets of the organisation are those that has a chance of getting represented on the
company's dashboard. It is necessary to identify the economic benefits with regard to the
organisation such that the tangible assets will act as the distribution of goods and the provision of
services that are being captured by the organisation will therefore be tangible assets. There are
different tangible assets and a few examples are buildings machines and many other treatments
that are on the accountability of perspective. The purpose of tangible assets will vary with regard
to the organisational policies. The organisation will be on the operation of different set of
objectives and goals and the products and services that are being tackled by it will therefore be
the collateral means. The tangible as well as the intangible services or the goods are referred to
be the economy generators with regard to the company's growth prospect. The intangible assets
are those that are focused on business highlights (Jin and et.al, 2019). The intangible assets like
those of patent, trademark and other copyrights are defined to be the set of activities that are
being used by the organisation such that any other organisation that is misleading the rights or
the legal entities that are to be followed will therefore be identified. It is necessary that the
organisation will have to tackle with the patent rights since there will be a threat of substitute
2

with regard to the other companies that are operating in the same field. It is not until when the
company identifies the choices that are to be made and the decisions that are to be taken in order
to implement the trademark as well as the governing factors that the organisation will stand as
one of the asset and unique property. For an organisation to gain the competitive advantage as
well as to maintain value of the organisation it is necessary to maintain all these intangible assets
such that the future can be promised.
A credible proposal to launch a new venture in your chosen organisation
The plan with regard to the organisation will deal with certain entities that are followed. they are
as follows:
Explaining the use of resources: resources and major criteria for every organisation. When an
organisation is in the pace of development it is necessary to make toys that will be within the
confined boundary of its resources (Miao and et.al, 2019). The organisations resources are those
that deal with the cash as well as marketing operations equipment and such that these will
contribute for the human resource management. The organisation will have to develop strategies
in order to use its resources in a full-fledged manner such that there will not be any wastage that
is committed. In order to yield results the organisation will have to focus on the projects that will
bring about results. These will be evidence based provider that can evaluate the future action
plan of organisation.
Think lean: this saying has a lot of weight age when it comes to the investors policy with regard
to organisational vision and future plans. The organisations aims are defined to be so big and the
requirement in order to reach them will be dependent upon the factors that will contribute
towards the usage of resources. The management will have to sometimes think lean which means
that they will have to be a narrow thinking to minimise the usage of resources such that there will
be stipulated results that can be achieved. When it comes to start of it is necessary to think clean
because the resources that are provided are minimal and the organisation will have to travel to
such an extent in order to reach the milestone of their achievements. This seems to be a good
example for launching ventures.
Meeting audience: when an action plan is provided it is necessary to find the audience choices
because of an presentation and the audience might find some new tactics of the ideologies. It is
necessary to take feedback from the audience such that the sources will therefore be known. An
approach will have to be made by the management by inculcating positive choices in order to
3

eradicate the negotiations as well as tourist and criticism. The contents of the presentation will
have to be discussed every now and then such that the presentation style will therefore be known
to the management and if there is any gossip regarding drawbacks of presentation that can be for
the corrected for the next one.
THE SKILLS AND CAPABILITIES REQUIRED TO LAUNCH A NEW
VENTURE AND HOW THEY ARE ACQUIRED OR DEVELOPED
The skillset is a required entity that is to be followed by all the organisations in the pace of
development. It is not until when the organisation is moving in the aspect of development that it
can acquire the properties of growth that are required for the organisation to sustain over a long
run. In this respect the different skills that fall in regard to the organisation are as follows:
Ability to manage money: correct come to an organisation money is everything in order to take
up the activities that are necessary to be performed in the organisation. The one that is chosen in
this regard their housing and construction and therefore there are a set of entities that are to be
performed in the organisation right from the onset of planning till the execution and deriving the
results out of it everything is linked to how far the finances are being maintained. The
organisation will have to look after all the strategies in order to minimise the expenditure such
that the money can be used in many other sectors of the organisation. In order to implement new
strategies with regard to marketing or any kind of productivity issues money plays a major role
and therefore they are to be safeguarded (Dickel, 2017).
Ability to raise money: if maintaining money is a tedious task to accomplish than to raise
money is also act as that is to be taken care about. Raising money is nothing but raising the
investors for the organisation. When an entrepreneur is working for the betterment of his ideas
and goals when it is necessary that a proper investor will have to be opted. The organisation as
well as the management will have to first identify the investors that could contribute for the
initiation of work which can later multiply into developing profits. In order to raise this
investment it is first necessary to identify the investors and therefore this is a skill that is to be
inherited by the organisation.
Ability to relieve stress: stress is the major component in almost all the entrepreneurial ventures
as well as many other fields where people are operating and working. Here the skills that will lie
in how far the organisations and minimising the stress factor and are getting relieved from it
4

(Dickel, 2017). To get relieved from the stress factors will automatically reflect in the better
choices that can be made by the organisation.
Ability to be productive: productivity is the overall criteria of every organisation. it is not until
when an organisation is productive then it can achieve its goals. Productivity will not always
work for everyone. Productivity will be for those who are in a tremendous hustle to reach the
objectives that are stipulated in the beginning. Productivity depends upon how far the protein is
being taken care about and that is when reflection towards success will happen.
Promotional activities
The selected business plan for construction business will need to have certain
promotional activities in order to expand the business. These promotional activities are,
Personal Selling :
This business will be taking contracts for building infrastructure. It can directly visit
customers and client companies which can be a potential customer for the company. Having
conversation directly with the customers is a very effective way of promotion (Ebrahimi,
Hosseini-Motlagh and Nematollahi, 2019).
Advertising :
This business can utilize any form of business which can be with the help of paid or non
personal presentation or even with the help of an identified sponsor. Advertising can also be
done on the television, radio, print, and other digital methods. This is the most used and effective
form of promotion for such type of business.
Sales promotion :
Sales promotional activities small gestures which are done by the business at the work
place. This type of promotion small provide incentives to the customers in order to encourage the
customers. Some other type of sales promotion are, in store display, free samples and products
which can promote the brand such as t-shirts and other goodies.
Direct marketing :
This type of marketing is done by directly communicating with the customers to develop
relations with the customers in order to enhance their decisions. Customer care can also be used
for such marketing as they can communicate with customers on call.
Publicity :
5

This type of promotion happens when the business does not pay for the promotional
activities but the business surely benefits from it. For example if a customer gets good service
and the customers explains how it has been benefited to other customers and thus the business
grows.
Public relations :
Some responsibilities of a business towards the society when are fulfilled develop good
relation between the customers and the business this will act as a promotional activity and the
business benefits from it (Adongo, Amuquandoh and Amenumey, 2017).
Promotional activity plan for launch and pre launch
Promotional activity plan at Pre launch of the business can be explained with the
help of this following table,
Promotion Type Promotional
activities
Target
Audience
Key strategies Results
Personal Selling For this type of
promotion trained
individuals are hired
for personally
speaking to the
customers.
The targetted
audience for
this type of
promotion
would be the
companies
interested in
building
infrastructure
and customers
which are
looking for a
constructor.
The key strategy
for such type of
promotion would
be to build good
relations with the
customers in
order win their
trust as a new
business.
The result of
this type of
promotion will
be that the
business will
get new
customers
which will be
connected to
the business
directly
Advertising In this type of
promotion the
company can use
television, radio,
In this type of
promotion the
customers are
large group of
The key strategy
of this promotion
would be to
influence the
This will
develop new
customers and
also make the
6

social media,
websites and other
digital platforms.
individual
which come in
contact to the
advertisement.
For example
television
customers for
selecting the
product (Mirer
and Grubic,
2020).
business
famous.
Some promotional activities which this type of business should do only after the lunch
are,
Promotion Type Promotional
activities
Target
Audience
Key strategies Results
Sales promotion This type of
promotion will
include giving the
customers of the
business some
incentives in the
form of discount,
coupons or gifts.
The target
customers for
this promotion
would be the
already existing
customers.
The key strategy
of this
promotional
activity is to
retain the
customers by
making them
happy.
The result of
this strategy
will be that the
customers will
develop good
relation with
business.
Direct marketing In this type of
promotion the
business can send
someone to directly
talk with the
customer or the
business can take the
help of customer
The target
customers for
this promotion
would be the
already existing
customers
which are not
in touch with
The key strategy
for the business in
this promotion
would be to get in
touch with the
existing
customers
(Mozos-Blanco
The result of
this strategy
will be that the
customers will
develop good
relation with
business.
7

care for
communicating with
them.
the business. and et.al., 2018).
8

Cash budget for the pre launch of the business
Receipts 1st month
£
2nd month
£
3rd month
£
4th month
£
Initial Investment 25000
Receipt from sales 4000 6000
Total 25000 4000 6000
Payments
Purchases 6000 6000 4000
Expenses 1000 1000 1000 1000
Fixed Assets 15000
Drawings 2000
Total 22000 1000 7000 7000
Cash flow for the month 3000 -1000 -3000 -1000
From the help of this table the cash budget for the pre launch has been explained. This shows
how the venture can be started by the help of £25000 as initial investment (Ocheretko and
Kravchenko, 2017). The business will not earn anything in that month and will have to make
some expenses related to the business such as purchasing raw materials, fixed expenses such as
rent and electricity. The company will have to by the some fixed assets for starting the business.
This table shows how after the launch the company is successful in gaining some sales.
The appropriate legal form for the venture starting
The legal form have been selected in the business while for having the work that could be
done as per having the proper process in the organization. In short, this could also help the
business for having the decision in long term implication and that could also led for providing
the business succession. The Wolfe builder construction as corporation organization in which
they are required to have the various types of legal process in which they can easily make their
services while by having profits (Soto‐Simeone, Sirén and Antretter, 2020). The company can
9

easily have their choice for LLC through which they can owner their business and can be more
flexible in process for having their better services. The company can selected their legal form for
the corporation sector in which they can get the high benefits while by having the both loss and
profits along with this might be also important for knowing about those things which could be
important in making the proper following for the business.
Corporation organization can have their more benefits in simple and operate for creating
along with the existing their company. Furthermore, the owner can directly have their personal
sources of income and taxes have been paid up by their own. In this organization they have
limited number of employee through which they can easily set up their business and make their
business for having the profits. Corporation company also shares their loss and profits with their
partners while through which they can make sure about those income statement in the
organization which might be important while for having their better profits. The Wolfe builder
construction traded the ownership which are publicly in stock market and they are easily
managed by the professional executives (Cabral, Francis and Kumar, 2021). While this can be
also include the directly shares of profits and losses which might affected to the shareholder in
many ways. The company can easily have their legal form for which that could help the
organization for having the proper legal process. Along with this the organization might be also
come to know about the various legal things which seems to be important and that could be
having the better project succession.
CONCLUSION
From the above report it had been concluded that new venture which must be indentified while
by having the proper target market and undertaking competitive analysis. The organization that
could also have the tangible and intangible resources in which that might be required to have
some new venture for their company. Along with this report also explained about the creditable
proposal for launching some new venture. While by having some new venture which might be
easily for having skills and capabilities which are must be required by their employee along with
the having the knowledge for which they can work for having the high income and profits.
Furthermore, this report have also discussed about the various promotional activities for starting
up something new venture and which might be important in knowing about the activities. Also
provided the appropriate promotional activity plan for having the both launch and pre launch
10

period in the company. Moreover, explained about the monthly cash budget for having the
proper pre launching of venture and also legal form which might be important in having the new
venture. The company have also suggested the corporation legal form in which they can have
their business while for setting up the legal process.
11

REFERENCES
Books and Journals
Adongo, C.A., Amuquandoh, F.E. and Amenumey, E.K., 2017. Modelling spa-goers' choices of
therapeutic activities. Journal of Hospitality and Tourism Management. 31. pp.105-113.
Ebrahimi, S., Hosseini-Motlagh, S.M. and Nematollahi, M., 2019. Proposing a delay in payment
contract for coordinating a two-echelon periodic review supply chain with stochastic
promotional effort dependent demand. International Journal of Machine Learning and
Cybernetics. 10(5). pp.1037-1050.
Mirer, M. and Grubic, A., 2020. Promotional Space or Public Forum: Protest Coverage and
Reader Response in Team-Operated Media. Communication & Sport. 8(4-5). pp.489-506.
Mozos-Blanco, M.Á., and et.al., 2018. The way to sustainable mobility. A comparative analysis
of sustainable mobility plans in Spain. Transport policy. 72. pp.45-54.
Ocheretko, L.M. and Kravchenko, Z.S., 2017. BUDGETING AS AN ELEMENT OF
STRATEGIC ACCOUNTING OF CASH FLOWS OF THE
ENTERPRISE. SUSTAINABLE DEVELOPMENT OF ECONOMY, p.81.
Soto‐Simeone, A., Sirén, C. and Antretter, T., 2020. New venture survival: A review and
extension. International Journal of Management Reviews. 22(4). pp.378-407.
Cabral, J.J., Francis, B.B. and Kumar, M.S., 2021. The impact of managerial job security on
corporate entrepreneurship: Evidence from corporate venture capital programs. Strategic
Entrepreneurship Journal. 15(1). pp.28-48.
Anwar and et.al, 2018. Intellectual capital, entrepreneurial strategy and new ventures
performance: Mediating role of competitive advantage. Business and Economic Review.
10(1). pp.63-93.
Tetteh and et.al, 2019. Combining process analysis method and four-pronged approach to
integrate corporate sustainability metrics for assessing international construction joint
ventures performance. Journal of Cleaner Production. 237. p.117781.
Jin and et.al, 2019. Product newness and product performance in new ventures: contingent roles
of market knowledge breadth and tacitness. Industrial Marketing Management. 76.
pp.231-241.
Miao and et.al, 2019. CEO entrepreneurial leadership and performance outcomes of top
management teams in entrepreneurial ventures: The mediating effects of psychological
safety. Journal of Small Business Management. 57(3). pp.1119-1135.
Dickel, 2017. The impact of protectability and proactiveness on the environmental performance
of new ventures. Corporate Governance: The International Journal of Business in Society.
12