Business Growth Strategy for The Ledbury through Product Development

MKT4007 Entrepreneur Research Project
Registration of proposed research subject
I am undertaking a research on emerging business opportunities for The Ledbury.
Proposed subject
The proposed subject for this project proposal is “Business growth strategy for The
Ledbury by the means of product development’’
Justification for your selection of company/brand/tool:
After examining the business trends of restaurant for past two to three years and
assessing its financial performance properly over the similar period, there is
possibility for organisation to develop a new product and catering high quality food
services to customers. The products and services offered by restaurant shows a
possible growth potential on the basis of market analysis. Thus, the restaurant will do
well if it growsits business operations through product development strategy, i.e., by
introducing a new product or service in market.
Currently, the restaurant is catering for the needs of people in London only and
operates its business activities successfully in London from last 15 years. However,
due to spread of corona virus pandemic, the owner said that the restaurant would
remain closed for some time, as it would not be possible to keep staff as well as
customers safe with one-meter of social distancing in place. But, the main reason
behind selecting The Ledbury restaurant is that the restaurant operated successfully
for the last 15 years in London and it has high potential to grow and succeed even in
this pandemic situation.
If the restaurant grows its business by adopting product development strategy
along with providing online food delivery services to customers, then it will attain
high growth and success in London market in future. The restaurant can come up with
home delivery and takeaway services in order to ensure its growth and success. This
strategy will assist restaurant in running is business operations successfully even
during the situation of spread of corona virus pandemic.
Outline analytical framework to be used: