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Assignment Launching a New Venture

   

Added on  2020-07-22

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LAUNCHING A NEWVENTURE
Assignment Launching a New Venture_1

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Identification of specific target markets and undertaking competitive analysis for newventure.........................................................................................................................................1P2 Tangible and intangible resources.........................................................................................2TASK 2............................................................................................................................................3P3 Credible proposal to launch new venture...............................................................................3P4 Skills and capabilities required to launch new venture..........................................................5TASK 3............................................................................................................................................6P5 Different promotional activities and channels.......................................................................6P6 Develop and appropriate promotional activities plan............................................................7TASK 4............................................................................................................................................8P7 Itemised monthly cash budget for pre-launching phase........................................................8P8 Legal form of venture..........................................................................................................10CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12
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INTRODUCTIONLaunching of new ventures is an basic term which include to introduce fresh concern inmarket at global level by tools or techniques of entrepreneurs. It will usually results in facingnew challenges which should be overcome by putting potential efforts so that organisation willattain high rate of success. As per learning and training, the interaction with different teams orgroup of executives facing similar situations of market and try to tackle with them (Baron andTang, 2011). Proper information gathering is necessary to prepare anything in better way forgaining success. It is necessary to generate appropriate skills, capabilities and leadershipqualities to make sure the profit is not compromised at any cost. This report is based on shinetravelling agency which deals in travel and tourism and provide essential services and productsto people. They have an aim to serve their clients in appropriate manner and make client'sjourney more comfortable as well as enjoyable. This assignment will described aboutdetermining target markets for new venture through analysis of all intangible and tangibleresources. Various kind of promotional activities for making new business more popular in shortperiod of time which are necessary to conduct in this report. TASK 1P1 Identification of specific target markets and undertaking competitive analysis for new ventureShine travelling agency is a firm who provide various kind of products or services tomake trips of people more comfortable. It is important for them to build new innovation andcreations to build a better image of the company. This firm has several aspects by which theyserving to desired clients to prepare their travelling better in case to render proper airlinesservice, other convenience, staying facility and so on (Bijker and et. al., 2012). They are trying tomake all possible products or services more satisfactory at reasonable prices so that their desiredcustomers can easily afford. It will facilitate to attract new consumers and current clients towardsorganisation. There are various kind of factors which are setted by this firm and are given below:-Objectives:- This term can be described as the several goals and targets of theorganisation which are needed to be completed by putting different essential efforts. It isimportant to render enjoyable qualities in trip time. These are necessary too render a
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target towards which employees will have to put their performance to achieve betteroutcomes.Mission:- This term may defined as short period targets of firms which should becompleted in specific time like projects or contracts.The firm shave to work on its ownbusiness area to facilitate proper habitat of working to complete missions.They have toassure about products to be gain satisfaction of people.Keys to success:- They have to make strategies for excellence in completion of promisesand render response at correct time. It is significant to make policies and implement onlythose which has fruitful and solid results for company (Burns, 2017).Target market:- They have target of attaining high income and health consciousindividuals to work hard and active response to customers in vacations. This firm has targetedbasically on youth of the country and renders adventurous visiting to them. This firm is able toserve enjoyable trips for them at reasonable prices so that it will help to attract more customersand try to retain them as well. Competitive analysis:- In current scenario of market, there are different kind ofcompetitors who has their own dissimilar strategies or policies to make their company morepopular amongst tourists. These companies have to put efforts in such manner so that theybecome able to provide various kind of products or services during trips are more satisfactory forthem. By this, people stuck to particular travel agency as per their quality of performanceregarding the travelling services. Competitors are always ready to distract the clients of anotherfirm by launching several new or unique ideas but it is necessary for Shine travelling agency thatthey have to observe regularly ion strategies of their competitive firms in market along withchanging trends. P2 Tangible and intangible resourcesThere are different kind of resources which are necessary for carrying out all possibleactivities and procedures of organisation to render an appropriate service to travelling customers(Caselli and Negri, 2018). It includes several sources such as money, equipments, machinery,raw material and so on. Such types of resources are also essential for Shine travelling agency forcarrying out certain important aspects more properly to provide better services to people to gaintheir satisfaction. These can be divided into two parts which are given below:
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