Launching a New Venture: Identifying Target Markets and Resources

Launching a new
venture

TABLE OF CONTENT
Launching a new venture..........................................................................................................1
INTRODUCTION......................................................................................................................3
TASK 1......................................................................................................................................4
P1. New venture identifying particular target markets and undertaking competitive analysis
................................................................................................................................................4
P2. Particular tangible and intangible resources that required for a new venture:.................5
TASK 2......................................................................................................................................6
P3. Planning of credible proposal to launch a new venture...................................................6
P4 Skills and capabilities which are required to launch a new venture.................................7
TASK 3......................................................................................................................................8
P5 Identification of promotional activities and channels for launching a new venture.........8
P6 Design an appropriate plan for promotional activities for both pre-launching and after
launching................................................................................................................................9
TASK 4......................................................................................................................................9
P7 Produce itemized monthly cash budget for the pre launch and after launch phase..........9
P8 An appropriate legal from for the new venture Dream Delicious restaurant.................13
CONCLUSION........................................................................................................................13
REFERENCES.........................................................................................................................15

INTRODUCTION
There are several kind of new venture are start in front of entrepreneur thus help to
achieve profits as well as demand of potential clients in an effective manner. . The leader

must possess the quality of assessing the change in future hence making the strategy
accordingly. Another skill which is required is communication skills. This skill is very
important for new venture as it ensures the successful launch of the firm in initial time period.
This skill is beneficial when the idea of the business it communicated to the investors. In this
report food restaurant (Baron and Tang, 2011). This restaurant good services and delight
customers help firm’s mouth to mouth publicity which occurs no cost to the owners and build
positive image among people. In this report covers identification of new venture in specific
target market, planning of launching new product, tangible as well as intangible resources or
many more.
TASK 1
P1. New venture identifying particular target markets and undertaking competitive analysis
Dream delicious is a new multi cuisine restaurant launched at the location of central London.
The restaurant is started with an aim to provide world class services to its customer. Since the
organisation has started itself in food product it needs to get food license and other required
document for the same. London is a tourist destination place; keeping this in mind the
restaurant provides a high range of food product: Thai food, Chinese food, Italian food and
many more. In order to provide more service to provide its customer the restaurant also gives
home delivery facility. Since it is located in Central London it was decided to open the
restaurant for 4 hours so that the tourist could get the food anytime. The restaurant is formed
in the company form so that it could expand itself in the other region of U.K (Bijker and et.
al., 2012). Restaurant is made on a land of 1000 Sq. feet which has all facilities from Roof
top to garden area services to the cabin food serving. The Company acquired a loan of
£100000 to 120000.
Restaurant is opened to achieve certain objectives:-
1. To deliver quality food to customers tourist of London.
2. To fill the gap of demand and supply in the nigh.
3. To capture market share.
4. To earn profit and sharing it with its stakeholders.
5. To start restaurant in multiple locations.
Mission: “Delivering variety food to its customers with premium quality”.
 Target:
This business is aim to achieve and understand certain target markets. Moreover this the
business target to particular market and people. Below is the list of target:
1. Geographical segment: In geographical segmentation the area is divided into
multiple portions. On the basis of that one most suitable area is selected on the ground
of matching the area with the objectives. The central London is selected on the basis
of suitability that it is the most attracted and crowded place in the London. Since it is
placed in central location it will is an easily reachable place.