Launch a New Venture Formulation - Assignment
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Added on 2021-01-02
Launch a New Venture Formulation - Assignment
Added on 2021-01-02
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Launching a newventure
Table of ContentsINTRODUCTION ..........................................................................................................................1TASK 1............................................................................................................................................1P1 Identification of specific target markets and competitive analysis........................................1P2 Specific tangible and intangible resources that required for a new venture..........................3TASK 2............................................................................................................................................4P3 Formulation of credible proposal to launch a new venture....................................................4P4 Skills and capabilities required to launch a new venture.......................................................5TASK 3............................................................................................................................................6P5 Determination of promotional activities and channels for launching new venture...............6P6 Formulation of appropriate promotional activities plan for both launch and pre-launch......6TASK 4............................................................................................................................................7P7 Monthly cash budget for the pre and after launch phase.......................................................7P8 An appropriate legal form for the venture...........................................................................10CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12
INTRODUCTION There are many ventures are available in front of entrepreneurs through which they canstart their own business in market and earn profits through satisfaction of the demands ofcustomers. To attain success in their entrepreneurial ventures large number of skills are requiredto have by the entrepreneurs which helps to understand the conditions in market and buildstrategies according to them. There are many challenges and risks are associated with thelaunching of new venture such as high amount of competition, lack of funds, lack of humancapital and experience, diversified market conditions and behaviour of customer’s etc. It hasnegative impact upon the working of venture successfully and accomplishment of the targetswithin stipulated period of time. Dream Delicious restaurant is a new venture which is going tolaunch in London market in UK (Baron and Tang, 2011). In the present report explain about, identification of the target market and competitiveanalysis, determination of the specific tangible and intangible resources necessary to launch newventure, formulation of credible proposal to launch a venture, skills and capabilities which arerequired to successfully start new business and different promotional activities and channelswhich are important to advertise their offerings in market. Also, development of the promotionalplan before an after the launch of venture, formulation of cash budget pre and after launch andlegal form of venture.TASK 1P1 Identification of specific target markets and competitive analysisDream Delicious is a restaurant which is decided to launch in London market withmultiple cuisines. There are large number of different dishes and services are provided byrestaurant to attract customers such as Thai, Spanish, Chinese, Continental, Sea food etc. Theidea to launch a new restaurant is most preferable option because it is observed that large numberof people liked to have their dinner in restaurant. The most preferable place to locate therestaurant is near to London Eye which is popular tourist destination and large number of tourists
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