Fundamentals of Marketing for Starting A Business

Fundamentals of
Marketing for
Starting A Business

Table of Contents
INTRODUCTION...........................................................................................................................1
1. Summary of the Proposed Business Idea and Market Gap Identified................................1
2. Relevant skills and experience for the business.................................................................1
3. Location for proposed business and reason for its choice..................................................1
RESEARCH PRESENTATION......................................................................................................2
4. PESTLE Analysis, leading into the SWOT Analysis.........................................................2
5. Competition analysis..........................................................................................................2
6. Industry Analysis with the help of Porter’s Five Forces....................................................2
7. Identifying Target market and segmentation with the help of STP analysis......................2
8. Marketing Plan with the help of 4Ps of marketing.............................................................3
CONCLUSION................................................................................................................................4
REFERENCES................................................................................................................................5

INTRODUCTION
1. Summary of the Proposed Business Idea and Market Gap Identified
Sink Inn Food Restaurant plan will describe the approach for starting a food restaurant
within the location of Oakham town in UK. The business plan is developed in the constructional
scenario for starting the business including its objectives, aims, visions and mission of the
company (Milinda and et. al., 2018). The restaurant provides food services that offer distinct fast
food delicacies, starters, meals and desserts in all four time meal options even during the night. It
will provide distinct food delicacies and exceptional breakfast, lunch, dining and late night
dinner services to its customers 24/7. It mainly focuses on providing specialised means for
different age groups of people according to their health and its night food court services for the
travellers. The restaurants do not consider the health of people while serving food and they
provide the same type of food to everyone disregarding their health and age. Therefore, it will
focus on these small things to create the best experience for the customers.
2. Relevant skills and experience for the business
There are various skills, knowledge and experiences that are required to handle such
business. Awareness of the customers is very important in order to start a restaurant business
because it requires full fill the demands of the customers so that their palate can be gratified.
Business planning ability is also important to raise funds for starting the business, and market
analysis to understand the competition and market conditions.
3. Location for proposed business and reason for its choice
Sink Inn Food Restaurant will be started in the city of Oakham, near the Tesco superstore,
near Goal Street because the place is densely populated and there is always traffic of people
nearby and in the Tesco Store which can improve the chances of restaurant to spread its wings
effectively into the market.
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