Entrepreneurship and Business Development

Entrepreneurship and
Business Development

Table of Contents
INTRODUCTION ..........................................................................................................................3
MAIN BODY...................................................................................................................................3
The rationale for launching the business and its vision and mission..........................................3
Macro/micro analysis of the market place .................................................................................4
Competitor analysis & highlight the competitive advantage .....................................................5
Segmentation analysis, providing market statistics (size & growth) .........................................6
Marketing Strategy .....................................................................................................................7
Market growth strategy ..............................................................................................................9
Resources required for venture including source of finance....................................................10
Risk analysis & how those risks will be treated........................................................................10
CONCLUSION .............................................................................................................................12
REFERENCES..............................................................................................................................13

INTRODUCTION
Entrepreneurship can be defined as that business practices which involves establishing
business while taking consideration of the financial risk along with having motivation of
securing profit. This business concept also involves development and management of the
business venture. It is also a willingness to set up new business enterprise and taking it to new
heights. Business development are that practices where an entrepreneur takes on to pursue the
strategic opportunity required for that specific business. This can also be considered as part old
marketing practices (Anđelić, Brnjas and Domazet, 2017).The most important function of this is
practice is to utilise business partners in such a way where they offer and sale right product to
right customers. This report is prepared with an intention to develop a business idea, including
introduction of a new business along with its vision and mission, porter's 5 forces for market
analysis for competitive analysis. Further it also include segmentation, targeting and positioning,
marketing mix, market growth strategy, sources of funds and the risk analysis.
MAIN BODY
The rationale for launching the business and its vision and mission.
The business plan proposed in report is for a business named Foodifu App plan to invent
which will help the London people to get the most famous food items order on their convenience
time and cost. offering its customers to enjoy the natural environment with a sight of aesthetics
of London. Foodifu offers variety of UK famous dishes that liked by the people and sometime
people suffer and do not want to visit the restaurants and hotel, they want that the food items
directly deliver at their home and all the dishes being served in silver service by the app of
Foodifu. There are well trained and efficient waiter staff for assisting customers. Foodifu app is
a multi-cuisine cafe offering different type of food helps to satisfy the customers ranging from all
localities of London. In the menu, mock tails are included, which are infused with lime juice and
mint with the garnish of lemon. This is a unique product of Foodifu app and waiters and delivery
person here are well instructed to offer it in particular manner (Drobyazko and et.al., 2019).
In its Mission Foodifu app is oriented towards attracting the large market in the London
and earn best possible growth and revenues. It aims to provide the efficient customer services
and assistance for maintaining the good relationship with the customer in longer run.

Vision of Foodifu app is to build a large and secured customer base and expand its
business in wider market ranges and sustain in the market by providing better customer
experience and quality services.
Macro/micro analysis of the market place
Macro Analysis
In order to make analysis of external factors in business environment, PESTEL model is
most suitable. The model contains 6 factors which are influential over the working of the
business. In context to foodifu app , the PESTEL analysis is discussed below- Political- The foodifu app is needed work in accordance with governmental policies and
directions so that it can avoid any trouble of administrative nature. Avoiding political
troubles will ensure stability of business in market. Economic- It is necessary for the foodifu app to analyse factors related to economy such
as inflation in the economy which can affect profitability of the business will be affected
as purchasing power of the people will reduce. Social- The changing trends of the customers and the needs and preference of the
customers must be taken into consideration so that the foodifu app can attract new
customers from the market (Frolova, Alwaely and Nikishina, 2021). Technological- The foodifu app must ensure that it in builts or ensures advance
technologies in to its operations so that it can serve the customers with the best. This will
help in increasing the market share for the business. Environmental- The foodifu app must ensure that it does not include plastic bags or other
resources which degrade the environment other the business can face hardships.
Compliance with environmental regulation is very important.
 Legal- The foodifu app must comply with food and safety regulations and other
legislations so that there is legal consequences faced by the business. The compliance
with the laws ensures smooth functioning and attract customers.
Micro Analysis
This analysis utilised to recognised the strengths, weaknesses , opportunities & threats of
the business through SWOT analysis so that it make easily for the organisation to focus on the
their operations and maintain and current marketing situations so that it can help to analyse the