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CB 612 Business Plan for Delight Cream - Report

   

Added on  2020-05-28

24 Pages5584 Words80 Views
Marketing
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Running head: BUSINESS PLAN FOR DELIGHT CREAMBUSINESS PLAN FOR DELIGHT CREAMName of the Student:Name of the University:Author’s Note:
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1BUSINESS PLAN FOR DELIGHT CREAMExecutive SummaryThe main purpose of this report is to prepare a business plan. The business plan will containan overview of the business which is going to be started. The plan will be containing a marketanalysis where the business will set up along with what product the business is going to selland which consumers the business will be targeting. The plan is also going to includeoperational plan, marketing plan and financial plan. The report will be focusing on thebusiness which will be established that is bakery and fast food chain named Delight Cream.
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2BUSINESS PLAN FOR DELIGHT CREAMTable of ContentsIntroduction................................................................................................................................3Business concept........................................................................................................................31.Value Proposition............................................................................................................32.Business offers................................................................................................................63.Mission and Vision statement.........................................................................................84.Legal Formalities............................................................................................................8Marketing Strategy.....................................................................................................................8Operational Plan.......................................................................................................................10Financial Plan...........................................................................................................................11Timeline...................................................................................................................................12PESTAL ANALYSIS..............................................................................................................12Porter’s Five Force Model.......................................................................................................13External Collaborations............................................................................................................15SWOT Analysis.......................................................................................................................15Financial Status........................................................................................................................17Reference..................................................................................................................................18
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3BUSINESS PLAN FOR DELIGHT CREAMSection 1IntroductionThe main purpose of this assignment is to analyze and formulate a proper businessplan for opening a fast food and bakery restaurant in United Kingdom (Lang and Heasman2015). The business that will be opened will be named Delight Cream which will beproviding its customers with both sandwiches and bakery products like cakes and pastries andbeverages. The business plan will contain a detailed analysis of the market and its valueproposition. The report6 will also be containing what the business has to offer and what arethe mission and visions of the business. The business plan will also be containing themarketing strategy, Operational plan and financial plan which the business will follow.Business concept This segment will be containing a Value proposition, what the business has to offer, themission and vision statement of the business and the various legal formalities which thebusiness need to adhere.1.Value PropositionThe value proposition of the Delight Cream will be to provide its customers with the bestof services and provide better quality of food products in comparison to its competitors ata lower price. The company core policy will be to provide the customers with goodquality food products and services at a low price (Osterwalder et al. 2014). This policy ofthe business is expected to bring in customers as the prices of the food products likesandwiches, cakes will be comparatively lower as compared to its competitors. Thecompany plans to maintain its quality as well by establishing kitchens in every store itopens so that the store can provide fresh food to its customers and ensure that the
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4BUSINESS PLAN FOR DELIGHT CREAMcustomers are satisfied with the services provided by the store. The fast food chainmarkets are doing quite well nowadays as theses are main centres for younger generationsbe it for hangouts, casual snacks. The fast food market is also favourable for the workingclass as well as they can buy a sandwich and maybe some beverage and be off to workagain. In other words theses stores are capable of providing the customers with instantfood. The market for fast food stores are doing quite well in the market. This proves thatthe market is favourable for such types of restaurant chains and Delight Cream intends totake advantage of the situation (Valadez 2012). Delight Cream will be providing bothrestaurant services where people can come in and sit for a quick bite and drive in serviceswhere the customers can drive in and take out the foods. The latter will be done to focuson the customers who are in a hurry who can have food while travelling. The food onoffer will be donuts, burgers, sandwiches, cakes and different options of beverages.Ansoff MatrixThis is a tool used by marketing team to determine the marketing strategies and growth ofproduct as well as market. This analysis is conducted considering new and existing productand markets (Hussain et al. 2013). The matrix analyses different strategies like marketpenetration, product development, market development and diversification. The below figureshows an Ansoff matrix:
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5BUSINESS PLAN FOR DELIGHT CREAMFigure 1: (Figure showing Ansoff Matrix)Source: (Mugo, Wanjau and Ayodo 2012)1.Market penetration: The first quadrant in the Ansoff matrix shows market penetration.This strategy is often adopted when the company has an existing product and also anexisting market and needs a growth strategy within that market. The business ofDelight Cream is still in its planning phase, therefore this is not the strategy which thebusiness must adopt. This is a strategy for an existing business which wants toincrease its market shares.2.Product Development: Product development refers to firms which have a goodmarket share in an existing market and want to introduce new product in the market.Product development is needed when the company is aware that it has a goodcustomer base and knows that the market for its existing product has reachedsaturation (Hassanien and Dale 2012). In such a case market penetration strategy isnot applicable any longer. Delight Cream will be opening in next year and does nothave an existing market, hence this strategy does not apply to the business.
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