Launching a New Venture in UK: Fresh OrgaFood
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Added on 2021-01-02
Launching a New Venture in UK: Fresh OrgaFood
Added on 2021-01-02
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Launching a NewVenture
INTRODUCTIONAn organisation came into market and expand at global level only when an entrepreneurhave new and innovative ideas which can easily attracts large number of customers acrossworldwide. This can be possible through conducting an effective market research where thebusiness try to expand so that it become to bring demanded products and services with bestquality and pricing policies. Business environment is complex in nature which consists ofinfluencing factors such as political and economic stability, technological advancement etc. Thepresent assignment is based on "Fresh OrgaFood" which is new venture going to establish inRomania after achieving huge success in UK. The company is engaged in producing and sellingorganic chocolates, fruits and vegetables, cookies, pastries etc. The project explains the specifictarget market, analysis of competitiveness in market, tangible and intangible resources, reliableproposal to launch a new venture in new market, skills and abilities required to the available inan entrepreneur while introducing new venture into new market, cash flow and legal forms fordifferent types of ventures exist in market.TASK 1P1:Venture idea"Fresh OrgaFood" is well-established venture in UK market which is engaged inproducing and selling wide range of products such as organic chocolates, cookies, pastries etc.An entrepreneur after getting huge success in UK decide to launch its new venture in the marketof Romania due to having more demand of organic chocolates and other organic products. Toachieve huge customer strength within shorter period of time, Bucharest which is the largest cityof Romania is decided as location for the purpose of establishment. Largest city provides largenumber of customers to "Fresh OrgaFood" which ensures them to gain huge sustainability andprofitability within shorter period of time. After investing funds on conducting an appropriateresearch regarding analysis of Romania market, it came to know that maximum number ofcitizens wants to buy organic products with the purpose of maintaining their healthy lifestyle.Therefore, such market informations are more favourable for "Fresh OrgaFood" due to which anentrepreneur decide to grab such opportunities through expanding its venture into Bucharest cityof Romania (Bijker and et. al., 2012). 1
An entrepreneur needed an appropriate support in terms of gathering resources that to berequired while expansion of business (Caselli and Negri, 2018). For this, an entrepreneur decideto expand its business in partnership with their colleagues who are already engaged in otherbusiness activities. Partnering with them maximises the chances of achieving sustainabilitythrough having new and innovative ideas of different partners in order to promote their newventure into new market. For the purpose of establishment, an entrepreneur buys approx. 1800square feet in Bucharest with the lease of 7 years so as to run their business more smoothly. Theamount of capital required to be invested is around 350000 to 356800 which can be raisedthrough partners' capital, loans from Banks etc.Objectives: An entrepreneur with the consent of its partners set SMART objectives whichare defined as below:Specific: Capturing market share of Bucharest to achieve huge sustainability.Measurable: Achieving 60% market share of 60% Achievable: It can be achieved by offering wide range of organic products.Relevancy: It increases the presence of company in Romania market.Time Bound: It can be achieved within 8 months of starting business.Target market:The sustainability and profitability depends on the number of customers available to buytheir products and services. For this, market research is suitable to conduct in order to determinethe future sales and revenues generated by "Fresh OrgaFood" in Romania. The number of peopleliving in Bucharest is segmented on the basis of demographic, geographic and psycho-graphic.Due to producing and selling organic products, owner of "Fresh OrgaFood" has targetedGeographic segmentation where huge population are there to buy their products i.e. Bucharest.Geographic: In this, population is classified on the basis of the area where they lived."Fresh OrgaFood" has targeting Bucharest city of Romania which is the largest city providinghuge number of customers for "Fresh OrgaFood". Maximum number of people in Bucharestincreases the sustainability and profitability of company (Cosenz and Noto, 2018).Demographic: The population is classified into characteristics of persons such as gender,age, religion etc. It is clearly identified from the research that people of Romania prefer to buyorganic items in order to maintain their healthy lifestyle. Therefore, the requirements of bothmen and women are targeted by "Fresh OrgaFood" with their wide range of organic items.2
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