Identifying Entrepreneurial Opportunities - Assignment

IDENTIFYING
ENTREPRENEURIAL
OPPORTUNITIES

INTRODUCTION
Entrepreneurship is the chain of activities related with the designing, launching and
running a new business which is initially a small business and the people who build respective
business known as entrepreneurs. Entrepreneur possess the calibre and audacity to develop or
organize business venture with associated risk to gain optimum level of profit. This report based
on the “Club coffee” which aimed to originate new business idea by launching series of coffee
such as unicorn coffee, strawberry summer and green monster to attract new and existing
consumers for enlarge business opportunities in positive manner. This assignment covers the
various sources of new or innovative entrepreneurial idea and rationale with market gap by using
various kinds of tools and techniques. It also includes data and statistics to support the gap of an
entrepreneurial idea and SWOT analysis for assessment of the same. At last it includes the

competitive and market environment to evaluate viability of business idea to gain optimum
outcomes.
TASK 1
P1
Innovative business idea is the one of most important aspect for an organization as well
as for individual to remain always competitive by accessing the emerging needs and wants of
consumers. Innovative ideas comes in mind after accessing the need of social change,
extraordinary and innovative mindset and dedication or determination to bring potential changes
in life of individuals (Al Mamun and Ekpe, 2016.). To bring it into practice the Club Coffee
aimed to launch series of innovative coffee that helps to enlarge business opportunities in
positive manner. To bring idea into marketplace there are various sources that can be understand
with the help of Drucker model of innovation which is also known as Modern management.
There are some important deliverable of respective model that are as follows:
The unexpected:
In respective source of innovation which find out opportunities in the market place, a
good manager constantly evaluate the market and changing consumer taste and preferences
regarding particular product and services (Audretsch and Belitski, 2017). By evaluating
answers of some questions such as product and services which are greater or lesser in demand
and way to exploit unexpected success. In context of Club coffee they find out major
opportunities within the marketplace and analyses gaps in performing well after that aimed to
launch series of coffee into marketplace.
The Incongruity:
Respective innovation opportunity focus on the discrepancy in between what is and what
should be. To find out major opportunities from the marketplace researcher have to determine
the target market and demand of consumers in emerging marketplace. In context of Club coffee
they by taking consumers feedback and complaints, by taking reviews regarding products and
services organization can evaluate the major areas of improvement.
Process need:
In respective step organization find out the major areas of improvement by finding out
weak spot or redesigning them in proper manner. In context of Club coffee focus on task
oriented solution in which they find out the source of innovation from within them by accessing

their own capabilities and way of doing business in the market. In Club coffee they find out that
people or consumer always demand something new and innovative in their menu so they access
some new flavors which are high in demand to gain optimum outcomes.
Industry and market structure change:
Industry and market are very much dynamic in nature due to the technological
advancement which disrupted overnight (George And et.al ., 2016). So it is the responsibility of
a leader to evaluate changes in positive manner and consider changes as an opportunity not as an
threat. In context of club coffee they due to technological advancement and changing taste and
preferences of consumers they aimed to launch series of coffee such as unicorn coffee,
strawberry summer and green monster in marketplace.
Demographics:
In today's world continuous changes come occurs in the population, level of income and
human capital and ranges in age etc. so to remain always competitive organization constantly
pay attention on these constraints to build one of most effective products and services as per the
consumers needs and wants in proper manner. In context of Club coffee their most of consumers
are youngsters so they always wants products and services that are innovative in nature so they
launch kinds of coffee in marketplace.
Changes in perception:
Over time, population and needs of people changes organization have to work smartly by
paying attention on capitalization of business opportunities in positive manner (Hansen,
Monllor and Shrader, 2016.). In context of Club coffee they conduct research and development
on regular basis to optimize opportunities as per market demand. So in respect they bring
innovative products and services which are the key areas of interest for their present and
emerging consumer base.
New knowledge:
New knowledge considered as an buzzword for the innovation as commencement of
technological advancement and scientific breakthroughs are major sources of innovation for an
organization (Karimi And et.al ., 2016.). New knowledge and learning applied in every aspect
or sphere of an organization to demonstrate regarding customers analytic to improve in their
supply chain to hiring one of best candidates.

From the above model it has been concluded that innovation must for an organization to
deploy major opportunities hidden in marketplace. In context of Club coffee they use incongruity
factor of Drucker model as they conduct proper research and development to gain important
insights regarding consumers choices and preferences.
TASK 2
P2
In dynamic business environment it is very much potential for an organization to conduct
proper research and development on regular basis to examine the taste and preferences of
consumers to add features in it (Karlesky, 2015.). In context of club coffee they analyses
important aspects such as consumers taste and preferences, market analysis and buying patterns
of consumers to remain always competitive in the marketplace.
Business idea:
Business idea is one of the important concept used by business tycoons for gaining
financial stability which centered on specified products and services. In context of club coffee
they aimed to launch a series of coffee such as unicorn coffee, strawberry summer and green
monster after accessing the emerging needs and wants of consumers to remain always
competitive in the marketplace. The major target audience related of their products and services
are youngsters who always demands innovation in series of respective organization aimed to
launch a series of coffee to gain optimum outcomes.
Target audience:
For building effective products and services it is very much necessary for an organization
to segment market before launching a new product into marketplace (Kohlbacher, Herstatt and
Levsen, 2015.). In context of club coffee their majorly target audience are youngsters who
always demand something new in their products and services. So to give one of their best
products and services organization aimed to launch series of new coffee in marketplace.
Rationale:
Before launching a new idea into marketplace it is very much important for an
organization to check the viability of a project. In context of club coffee as they are dealing from
the long time in market of coffee so they possess deep knowledge and information regarding the

market. To gain sustainability they conduct proper research and development at regular time
interval so it is right step for them to introduce new product into marketplace.
Gap analysis:
Gap analysis involves comparison in between the potential or desired level of
performance. In it organization can be able to evaluate the best use of resources or investment
criteria to perform well for getting idealized potentials. Gap arises when an organization not
serves in potential marketplace so it is very much crucial to find out the loop falls in performing
well by accessing their own strength and weaknesses after comparing with their potential
competitors and by taking feedback from their consumers to put one of best efforts. In order to
after accessing gaps in performing works and activities it is very much necessary to build
strategies and tactics to gain potential outcomes (Kraus And et.al ., 2015.). In that regards club
coffee aimed to launch series of new coffee into marketplace such as unicorn coffee, strawberry
summer and green monster to satisfy their emerging and present needs and wants of consumers.
So it is very much potential in context of an organization to build and deliver one of most
effective products and services to remain always competitive into marketplace.
Demographic segmentation:
Demographic segmentation defined as an market segment such as age, gender, income
factors includes. In context of Club coffee the major consumers are children and youngsters that
are favorable towards consuming the coffee that are very much potential for them.
Geographic segmentation:
In that regards business divides the market on basis of geography. The major population
or customers of respective organization resides in the market of UK.
Behavioral segmentation:
It refers to divide the market into small segments that are homogeneous in nature that
includes the buying patterns, frequency and many more aspects. In context of Club coffee their
buying patterns that consumers are children who consume the coffee and favors the fast food.
Fish bone / Ishikawa diagram:
Fish bone diagram or Ishikawa diagram which also known as cause and effect diagram
which is an important tool to visualize effects by finding out the cause of problem by evaluating
root cause of it. In respective diagram the cause or effect showed on the head of a fish and
factors that are major attributes of problem listed in the bones of fish. In context of Club coffee

as they are deal with the youngsters who wants always innovative products and services. So the
main problems face by them that fierce competition exist in the marketplace and another attribute
that innovation is easily replicate in nature. In order to organization faces problem that day by
day coffee shops with kinds of innovative ideas come into the marketplace so it is very much
effective for them to plan and coordinate each and every aspect with their team members. The
mid level problems in front of them that they suffer from lack of funds, resources that hampers
their self interest in accomplishing desirable objectives.
So by using gap analysis organization can be easily find out potential opportunities in the
marketplace to reap out important outcomes.
TASK 3
P3
For an organization which intended to launch new products and services into the
marketplace have to focus on elimination of gaps to perform well ( mri and Boujelbene, 2015).
In context of Club coffee major issue or problem which faced by them is lack of funds and
resources which hinders self interest in giving one of their best efforts. The another issue which
majorly faced by them that idea is innovative in nature but easily replicate. So for eliminate
gaps for performing well it is very much necessary to compare with their fierce competitors to
evaluate gaps that are as follows:
Club coffee Costa coffee
Club coffee have not so much experience of
marketplace and always builds products and
services which are innovative in nature.
On other hand costa coffee are new in
marketplace and have great brand value which
helps them to remain always competitive in the
marketplace.
As they are new in the market so they for
enchanting attention of consumers by offering
low price at initial level.
In context of Costa coffee they are great brand
name in market so they offer products with
high prices by gaining customer loyalty.
So in order to comparing with other organization it is very much necessary to use various kinds
of tools to eliminate waste and time so that qualitative products should be gain.
By using the primary and secondary source organization also eliminate gaps in performing well
by focusing on areas of improvement.

Primary data and sources:
Primary data is accumulated by the researcher from the first hand sources such as
surveys, interview and experiments to gain important insights (Park, Sung and Im, 2017.). It
accumulate by keeping in mind the research project directly from the primary sources. In context
of Club coffee by using questionnaire to evaluate gaps by asking relevant questions from their
respondents that are as follows:
1. Is consumer like or prefers the chain of innovative products of Club coffee?
a) Yes
b) No
2. What are the recent trends which prevails in the marketplace?
a) Personalized experience
b) Robotics
c) Internet of things
3. What are the benefits of innovation for an organisation?
a) Enhancement in consumer base
b) Enlarge business opportunities
c) Helps in brand loyalty
4. Which promotional event proved beneficial for organisation to reach at large no. of consumer
base?
a) advertisement
b) sales promotion
c) various events
5. Is idea of Club coffee able to enchant attraction of consumers?
a) Yes
b) No

Secondary sources:
secondary data and sources collected or accumulated by the someone else, it is one of
most cost effective in nature and takes less time in comparison to primary data.
From the above graph it has been summarized that day by day consumption of coffee
growing in market of Europe. Cos-ta, Starbucks and Brew labs are the major players which
expand their market in respective segment to enlarge business opportunities in positive manner.
Coffee retailers are more paying attention towards innovative style of presentation of coffee
which helps to attract large no. of consumers. As cos-ta coffee has 2923 stores as per data
collected and Starbucks has 2611 which is very much large in number.
With the help of quantitative method of survey which proved beneficial for them to collect right
kind of knowledge and information that are measurable in nature. While using the method of
Illustration 1: EUROPE COFFEE MARKET – GROWTH, TRENDS, AND FORECAST (2019 –
2024)

collecting data and information with the help of questionnaire they able to reach at large no. of
consumers in order to reach at large no. of consumers that are very much potential for
organization. While asking questions to the respondents which proved effective for them to
accumulate necessary knowledge and information to get proper response of them in order to take
crucial decisions. After collecting data it has been evaluated that respondents like their theme of
coffee that are unique in nature and proved beneficial for them.
P4
Theme 1:
1. Is consumer like or prefers the chain of
innovative products of Club coffee?
frequency
a) Yes 15
b) No 5
Interpretation:
from the graph it has been evaluated that as they bring new concept into marketplace tjat
are completely innovative in nature. 15 respondents gives remarks in favor of it that they like
new concept.
Mean= 10
Mode = 0
Median = 10
a) Yes b) No
0
5
10
15
15
5 Column B

2. What are the recent trends which prevails in
the marketplace?
frequency
a) Personalized experience 10
b) Robotics 5
c) Internet of things 5
Interpretation:
In recent trends of the market includes personalized experiences, robotics and internet of
things which is very much important. To satisfy the emerging needs of consumers 10
respondents gives positive remarks and 5 respondents give remark in favor of robotics and
internet of things.
Mean= 6.667
Mode = 5
Median = 5
3. What are the benefits of innovation for an
organisation?
frequency
a) Enhancement in consumer base 10
b) Enlarge business opportunities 5
c) Helps in brand loyalty 5
10
5
5
a) Personalized experience
b) Robotics
c) Internet of things

Interpretation:
from the above graph it has been summarized that innovation helps to enlarge business
opportunities in positive manner 10 respondents gives in favor of it. 5 respondents admits that
innovation enables to enlarge business opportunities and enhance brand loyalty.
Mean= 6.667
Mode = 5
Median = 5
4. Which promotional event proved beneficial
for organisation to reach at large no. of
consumer base?
frequency
a) advertisement 12
b) sales promotion 4
c) various events 4
10
5
5
a) Enhancement in consumer
base
b) Enlarge business
opportunities
c) Helps in brand loyalty
12 4
4
a) advertisement
b) sales promotion
c) various events

Interpretation:
from the above graph 12 respondents states that advertisement is one of best promotional
event to reach at large no. of consumer base. On other hand 4 respondents favor sales promotion
and events.
Mean= 6.667
Mode = 4
Median = 4
5. Is idea of Club coffee able to enchant
attraction of consumers?
frequency
a) Yes 10
b) No 10
Interpretation:
Respondents gives equal remarks in both context such as they states that it is most unique
in nature so consumer likes it. So they equally remark it.
Mean= 10
Mode = 10
Median = 10
It has been evaluated that club coffee aimed to launch the series of coffee in the marketplace that
are unicorn coffee, monster coffee and many more. While collecting data and information it has
been evaluated that potential product and style of serving helps to them to reach at large no. of
consumers and as it is one of most unique concept in the marketplace which needed one of great
a) Yes b) No
0
5
10
10 10
Column C

response to remain always competitive in the marketplace. With the help of questionnaire, it has
been evaluated that it is one of best source to reach at large no. of respondents and helps to
acknowledge the potentiality of information. Majorly people acknowledge about the concept and
favors it in positive manner. The services are very much crucial that helps to build consumer
loyalty by offering products that are best featured. In club coffee their series of coffee is very
much effective and deliver satisfactory results to consumers.
TASK 4
P5
To access their own performance which is very much essential for an organization to gain
potential knowledge and information with help of SWOT analysis that are as follows:
Strength
Area of strength of Club coffee that they
properly commence research and development
in marketplace time to time and have large
product portfolio which helps to enlarge
business opportunities in positive manner.
Weaknesses
On other hand their areas of concern that they
come in market with no. of innovative coffee
but due to fierce competition with giants in
marketplace all products easily replicable
which directly affect their business.
Opportunities
As they owned limited no. of outlets in the
market of UK so they can enlarge business
opportunities by open some new stores in other
location.
Threats
The major area in which reforms are very
much potential that large no. of fierce
competitors exist in marketplace so it is very
much hazardous for them to compete for long
time.
From the above discussion it has been summarized that organization have potential capabilities
that are rare in nature. As they are new in marketplace and come up with the large product
portfolio which able to satisfy consumers wants and needs in proper manner. The area of
weaknesses that the product are easily imitable in nature so that it creates hazardous effects in
context of an organization. The major opportunities in front of them they can enlarge business
opportunities by open more stores in the business environment to get potential outcomes.

P6
Before going into marketplace it is very much potential to evaluate competitive and
market environment, in context of Club coffee are as follows:
Competitive strength:
Competitive strength is one of important aspect to evaluate the performance of an
organization as well as individual (Renko And et.al ., 2015 ). In context of Club coffee there
operate under fierce competitive environment in which large no. of fierce competitors works
such as Cos-ta coffee, Nescafe and many more. So they have to focus on quality of product by
bring innovation time to time.
Demand:
Demand of products are very much important factor to enlarge business opportunities in
respective field. In context of Club coffee firstly they have to evaluate the demand existed in the
market and then come into respective area for growth. As new coffee shops opens on daily basis
in market of UK which is great indication to operate in it.
Business environment:
In business environment both micro and macro factors come under it that are as follows:
Micro factor:
In micro factor consist of deliverable which directly affect on their business, in context of
respective organization to evaluate the power of suppliers, buyers and competitors they evaluate
each and every factor to get important insights.
Macro factor:
In macro environment consist of factors which directly influence business activities in
which consist of political, environmental and social factors (Santos And et.al ., 2015. ). In
respect of Club coffee they by using various tools evaluate macro environment to build strategies
and tactics.
So from both micro and macro factors it has been evaluated that organization have to build
strategies and tactics to remain always competitive in marketplace.
After analyzing it has been evaluated that the product is rare in nature and people may like it
most in order to remain competitive organization have to frame strategies to lessen down the
effects of Br exit. The another factor that due to influence on their profitability that are change in

rate of taxation that impacts on their profitability in negative manner. The key features that
product are unique in nature and deliver one of best quality that are rare in nature.
CONCLUSION
From the above report it has been concluded that entrepreneurship is very much potential
for the organization as well as individual to deliver one of best products and services to ultimate
consumers. Before introducing new products and services into marketplace it is very much
necessary to evaluate the gaps in performing well. To launch a new product into market it is
critical to access micro and macro factors to get important outcomes. To build one of best
products and services consumer taste and preferences matters a lot so organization have to be
aware about changing taste of them.

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