Developing Business Plans for Market Launch

This assignment provides a detailed explanation of the process involved in launching a new business or product in the marketplace. It emphasizes the importance of creating a proper market survey to generate innovative ideas, choosing a target market, developing business objectives and marketing plans, and implementing risk management strategies. The document also highlights the significance of sustainability and ethics in business operations, particularly in the fashion industry.

Foundation Business
Essentials

Table of Contents
INTRODUCTION..............................................................................................................1
TASK 1.............................................................................................................................1
Part A............................................................................................................................... 1
Overview of business...............................................................................................1
PART B............................................................................................................................ 2
Objectives of new business.....................................................................................2
TASK 2.............................................................................................................................4
Business environment factors..................................................................................4
TASK 3.............................................................................................................................6
PART A............................................................................................................................ 6
Define launch event.................................................................................................6
PART B............................................................................................................................ 7
Produce a budget.................................................................................................... 7
TASK 4.............................................................................................................................7
Marketing plan......................................................................................................... 7
TASK 5.............................................................................................................................9
Operational business decision.................................................................................9
Tactical business decision.......................................................................................9
Strategic business decision...................................................................................10
TASK 6........................................................................................................................... 10
Supply chain management....................................................................................10
CONCLUSION............................................................................................................... 11
REFERENCES...............................................................................................................12

INTRODUCTION
To launch a new business in a sector where a company can reach its targeted
customers easily, an entrepreneur needs to generate some innovative ideas. For
generation of creative ideas, business persons are needed to identify key competitors,
way to anticipate needs of customers which is not meet by existing enterprises and
more (Miller and Jentz, 2017). This would give support to create specific business plan
for launching a new venture successfully.
The present report is going to discuss about essential factors which are needed
to consider while launching a business. It is based on establishing business nearby a
university campus in apparel sector, named by D&D Tees. It mainly targets college
students and offer variety of trendy and quality clothes as per demand of them, on
reasonable rates. This report covers some main objectives to establish this business,
PESTLE analysis to evaluate potential influence, define launching event and a proper
budget for same. Furthermore, marketing plans and techniques to anticipate demand of
targeted audience.
TASK 1
Part A
Overview of business
ABC Company deals in apparel market in UK marketplace and targeted both
youngsters (21 to 35 age) and teenagers for enhancing sales performance. For
expanding business market, its managers have carried out an in-depth analysis.
Through this process, they have analysed that students of different countries in
universities, face various problems to get desire apparels on reasonable rates.
Therefore, targeting them and anticipate their needs, owners of ABC company seek to
establish one of stores named by D&D Tees, nearby one of the university campus in
East London (Scarborough, 2016). It will offer the variety of trendy and quality apparels
to college students as per demographic division. This company will also provide
customised product i.e. clothing on the basis of demand and selected design of
customers.
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Through marketing research, managers of ABC Company have evaluated that
many stores are also run nearby East London University. It includes Levi's Exclusive
Store, Allen Solly Store, Puma and more.
Competitors Reasons for considering the organisation as main
competitors
Levi’s Exclusive Store This store is known for its best jeans quality in apparel store,
that offers a range of faded and blue denim jeans. Its
designers use products from past in order to inspire designs
for tomorrow. Therefore, having best quality and unique
designs, this company holds high retention of customers in
same area of London street.
Allen Solly Store This store offers a variety of cool and soft Linen shirt and
blazers, that makes an inspiring statement. Having such a
branded image in apparel image in apparel market and grabs
a large market share, shows major competitiveness of Allen
Solly store for D&D Tees.
Therefore, to take over own business from existing stores in apparel market, D&D
Tees offers some iconic features as:
 Iconic jeans and casual wear
 AI and machine learning are installed in this store, which is used to match
targeted customers' demand based on fit as well as style. Through renting out
garments they can extend the life cycle of clothing, which delay it from going into
landfills.
 Some luxury accessories are also available which are dyed naturally and tanned
without using chemical intensive techniques.
PART B
Objectives of new business
In order to open business or branch successfully in new marketplace, it is
essential for entrepreneurs to frame proper objectives as well (Georges and Baker,
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2016). In context with ABC Company who wants to open new store as D&D Tees in
nearby East London University, the main objectives are:
 To become an easy choice for customers by offering high quality clothes and
incredible everyday prices
 To anticipate needs of college students through walk-able access
 To create a software that enables to design circular garments as per demand of
customers
 To analyse target market in order to attain higher competitive advantage
The importance of first main objective states that for attracting targeted customers
(students and staff of Universities), managers of D&D Tees have to offer high quality of
clothes on daily changing price. As chosen targeted group i.e. youth are always awaited
to get branded clothes on cheap rates. Therefore, by offering products on attractive
discounts with daily changing price, help in getting high attention of audience towards
new services of respective company. Along with this, for anticipating needs of college
the decision to establish business on walkable distance, give opportunity to D&D Tees
to increase their foot in its store. Similarly, bringing new software for designing clothes
as per demand, also helps in enhancing its customer base (Reddy and Swamidas,
2016). Furthermore, last objective is to identify competitor’s strategies by regular market
survey, is most essential one, that aids in developing effective policies. Thus, all
objectives help in launching this store more successfully in London area market and
gain high competitive advantage.
Different forms of business organisation:
There are various forms present under which private business is operated. It
includes Sole trader, partnership, limited liability and more. For launching new business
in apparel market, ABC Company deals in sole proprietorship. As it is a first step of
respective company in apparel market, therefore, to operate in sole ownership will aid in
taking more effective decision. Owner here is liable for both profit or loss as per demand
of business.
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TASK 2
Business environment factors
PESTLE analysis of D&D Tees is mentioned below as to evaluate potential
influencing factors along with its impact and significance:
Political:
In this factor, impact of governmental policies and their administrative practices
on an organisation functions are included. In order to effectively conduct their business
operations in smooth and efficient manner it is required for D&D Tees to a continuously
analyse political factor which include, regulatory shifts and new legislations. As United
Kingdom holds a free market oriented economy in which there is a minimal indulgence
of government prevailed, this encourage D&D Tees to provide their apparel services in
this labour intensive market (Ehret and Wirtz, 2017). For this D&D is required to
consider some potential laws such as, benefits, health and safety regulations, wages
and overtime as these factor directly and indirectly put their impact in organisation
functioning.
Economic:
In this factor, elements such as increase in inflation rate of a economy, interest
rates, economic growth, foreign exchange rates and other patterns are included. All
these determinants factors impact on company functions. There is some certain
situation such as, economic recessions and breakdown, in these situation consumers
often chooses to do their shopping in a cheaper way and for cheaper way as they have
low level of disposable income. It encourages D&D Tees to offer their products in
affordable way as to effectively conduct their functions in economic breakdown
situations too.
Social:
In this factor of PESTLE analysis overall scrutinize of a social environment have
been conducted that include some of the major elements such as, cultural trends,
population analytics, demographic etc. D&D Tees specially design their clothing for
college students as to satisfy their needs and demands as per according to their need.
Company offer their typical outfits especially for college students which results in
gaining more competitive advantages of company. As college students keeps on turning
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their choices according to weather or season that encourages D&D Tees to offer their
services in apparel industry and consistently increase their product consumption.
Technological: There are numerous technological advancements available in a current
modern world which results in bringing new automated machinery which effectively
results in raising overall productivity base for company. This factor encourages D&D
Tees to perform their services in apparel industry while taking advantages of new and
advanced technology.
Legal:
This factor mainly includes elements like labour laws, consumer laws, safety and
standards laws etc. That put their impact on organisation internal and external sides. In
order to conduct activities in smooth and effective way D&D Tees is required to abide all
the necessary legal abiding as to minimize any kind of future legal obstacle (Moloney
and Pettersen, 2016). Legislation impact on an industry global market factor and help
them to effectively expand their business, this factor encourages D&D Tees to start their
services in apparel sector and stimulate their trade growth.
Environmental:
In this factor overall elements that are basically determined by environmental
surroundings are included. Some of these elements include, weather, environmental
policies, support to renewable energy, environmental polices etc. According to this by
effectively understanding this factor D&D encourages to conduct their function in
present sector as, they can provide new and fresh product to college students as per
climatically weather as increase its overall productivity.
PESTLE analysis not only benefits D&D Tees to evaluate current macro conditions
that directly and indirectly affect functioning of organisation but also aid them to
evaluate their industry as a whole while considering their past performance and
stimulate future growth.
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TASK 3
PART A
Define launch event
A launch event is considered as an excellent way for entrepreneurs or a company to
showcase their latest product, new business which is build hype around it. Therefore,
after planning all activities to launch business in apparel market, owners of ABC
Company need to organise a perfect event. This would help in describing the new
services of business to media and present competitors in large manner (Bartlett, 2017).
It also provides opportunity to owners of ABC in acquiring high sales right at the event
because the more they can get people by talking about its product, both at event and
via social media, more better opportunity they will gain. Therefore, in order to promote
business, its managers plan a launch event by ‘D&D Tess- Close the Loop’. This will
showcase the brand’s innovative marketing or USP (Unique Selling Proposition) of
given company, for attracting targeted audience. For launching this event, Westfield
London Shopping Centre Ariel Way, White City, London W12 7GA, UK is chosen, which
is suited best to promote business in competitive marketplace.
Here, online marketing theme is selected which includes social media marketing
lecturers, SEO workshops and more. As this event is formative and foremost therefore,
incorporating an entertainment element for making it more memorable and entertaining.
In this regard, a contest is organised where participants walk on ramp and showcase its
different collection of dresses to impress media partners. This would help in influencing
them to make some investment for developing more innovation in business. Here, event
timing will be start from sharp 7’O clock in evening and will go till midnight. As event is
itself a marketing activity but to invite media partners, competitors and selective
business man, some social media campaigns will also run by managers of ABC
Company. Finally, under this event near about 250 to 300 members will invite, who are
somehow associated within apparel market.
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PART B
Produce a budget
After planning all activities which are essential for launching an event successfully
to promote new business, it is essential to managers of ABC Company to formulate a
proper budget plan. In this regard, major activities include organising contest, dinner for
guest, theme arrangement, marketing for event, lightening and ambience arrangement
and more. Here, budget set for entire activities of launching an event is near about 50k.
Budget plan for event ‘D&D Tess- Close the Loop’ is shown as below;-
Activities Expenses in Euro
Marketing 10k
Entertainment 5k
Food (3course luxury meal) 5K
Ambiene arrangement 10k
Theme arrangement 5k
TASK 4
Marketing plan
For framing marketing strategies to promote new business in apparel market, where
competition is already much high, it is essential to proper conduct a survey. This would
help in evaluating the competitors’ strategies presenting in same marketplace and
attaining a good position (Bravo, 2019). Through this process, managers of ABC
Company can develop more effective policies to reach targeted audience. For this
purpose, it is necessary for managers to develop proper marketing objectives first.
Marketing objectives: “To cover near about 2.9% of market share within six
months after launching business.”
For making a tight position in apparel market, ABC Company will open its new
store as D&D Tees, nearby East London University. This would help in accessing
business for targeted audience more easily. This store will offer best quality of new
trendy and fashionable product on premium price, where design is made as per
customer choice, help in increasing footsteps of customers within a week after launch in
store.
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Target market: D&D Tees will be targeted both youngsters (21 to 35 age) and
teenagers therefore, establish business nearby university campus in East London, on
walkable distance.
Marketing strategies for each target market: For youngsters, managers of D&D Tees
chose online marketing strategy where, it daily provides information about new offers
and discounts through email procedure. While to grab attention of teenagers, it will
make interaction with them on social sites and attract by showing unique designs on
clothes.
Marketing Mix: It is the best marketing strategy for framing better USP of D&D Tees at
marketplace, as shown below:-
Element Description Justification
Price It refers to best strategy of
marketing mix, where D&D
Tees decide to offer
products on premium price
as per unique designs and
quality.
As completing demand of
customers is the main
objective of D&D Tees
therefore, to create designs
as per their choice,
premium price will be
effective one strategy.
Product Iconic jeans and casual
wear including some luxury
accessories, which are
dyed naturally and tanned
without using chemical
intensive techniques
(Bandy, 2016).
These type of products and
services are sufficient to
gain high customer
satisfaction
Place D&D Tees store will
establish nearby university
campus.
Launch store on walkable
distance of chosen target
audience, help in
enhancing sales
performance more
profitably.
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Promotion Through online marketing
techniques like create FB
pages, Instagram and You
Tube, D&D Tees can
promote business more
rapidly.
This promotional strategy
helps in reaching targeted
audience in short period of
time.
TASK 5
Operational business decision
Operational decisions are mainly related with day to day operations within
organisation. There are different types of exchanges takes place in a company on daily
basis that effectively show effectiveness of organisational operational decision making
process. Operational business decisions play a key essential role in every business
organisations despite of their size. Ineffectiveness in business decisions impact
company overall performance in different ways. Therefore, it is important for an
organisation to construct their decisions with the help of effective strategic decisions
while measuring company overall structure including man, machine and labour. It is
necessary for a company to formulate their business decisions as per defined rules and
guidelines in order to make it consistent. An organisation frame business mainly for
employees, products and suppliers (Tari Schreider, CISM and CISO, 2017). In this
digital era company can take advantage of internet in order to expand their source of
data and information gathering in order to develop their business decisions in improved
and managed way in order to maximise business value. Good operational business
decisions benefits an organisation to increase their rate of revenues, higher the overall
base of company profits, profitability and productivity along with satisfying consumer
needs in best effective way.
Tactical business decision
This kind of business decision help in setting up a forth specific short term action
plan, for achievement of operational goals. It is shorter than strategic business plan
which includes long perspective goals. In this regard, main tactical business decisions
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of D&D Tees are- No. of employees need to hire in store; channels of communication
for business meetings with staff members, managers and other stakeholders; level to
improve reliability of objectives etc.
Strategic business decision
This part of business include decisions related to portfolio making, USP developing,
setting marketing strategies as per 4Ps or 7 Ps and more. These decisions are helping
in achievement of long term business objectives. Therefore, D&D Tees also develop
strategic business decisions for generating high term profitability.
TASK 6
Supply chain management
Element of supply
chain
How it is going to be
addressed in the
business
Why is this correct way to
operate
Use of information
system
Using information system
like Radio Frequency
Identification technology,
helps owners of D&D
Tees in identifying latest
market trends of apparel
industry. It helps in
preventing loss of
customers by improving
communication system
and connection.
It is the most essential element of
supply chain management
process in apparel industry that
shows a correct pathway from
starting to launch till
establishment.
Risk management This component of supply
chain management helps
in analysing issues which
may occur due to changes
in demand of customers in
clothes sector, through
It is a new top agenda within
fashion industry which helps in
preventing business from
associated risks.
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which inventories can be
maintained appropriately.
Sustainability and
ethics
Due to emission of high
pollution from cloth
manufacturing it is
essential for D&D Tees to
run business by following
specific code of ethics.
Ethical process aid this company
in getting high sustainable
advantage as well.
CONCLUSION
Through this assignment, it has concluded that in order to launch a new business or
a new product in establish marketplace, a company needs to develop various plans. It
has to create a proper market survey in order to generate innovative idea, for launching
a business. Along with this, entrepreneurs need to choose a market where it can target
its customers, then develop business objectives marketing plan and various procedures
for promoting and establishing the business.
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REFERENCES
Books and Journals
Bandy, R., 2016. R Essentials. CreateSpace Independent Publishing Platform.
Bartlett, J., 2017. The Essentials of Managing Risk for Projects and Programmes.
Routledge.
Bravo, V., 2019. Matthew W. Ragas and Ron Culp (Eds.), Mastering Business for
Strategic Communicators: Insights and Advice from the C-Suite of Leading
Brands. International Journal of Communication. 13. p.4.
Ehret, M. and Wirtz, J., 2017. Unlocking value from machines: business models and the
industrial internet of things. Journal of Marketing Management. 33(1-2). pp.111-
130.
Georges, J. and Baker, M. D., 2016. Ministering in Honor-Shame cultures: Biblical
foundations and practical essentials. InterVarsity Press.
Miller, R. L. and Jentz, G. A., 2017. Business law today: The essentials. Cengage
learning.
Moloney, M. and Pettersen, J., 2016. Early Childhood Education Management: Insights
into business practice and leadership. Routledge.
Reddy, D. V. and Swamidas, A. S. J., 2016. Essentials of offshore structures: framed
and gravity platforms. CRC press.
Scarborough, N. M., 2016. Essentials of entrepreneurship and small business
management. Pearson.
Tari Schreider, S. S. C. P., CISM, C. and CISO, I., 2017. The Manager’s Guide to
Cybersecurity Law: Essentials for Today's Business. Rothstein Publishing.
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