Launching New Venture Assignment 2022

Launching a New Venture
Turning a vision into action
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Word Count: 3289

Table of Contents
Introduction:..................................................................................................................................3
Task 1: The range of resources required to launch a new venture...........................................3
1.1 New venture identifying specific target markets and undertaking competitive
analysis:......................................................................................................................................3
1.2 Tangible and intangible resources required for the launch of a new venture:..............4
1.3 Credible proposal to launch a new venture:.....................................................................5
Task 2: Skills and capabilities required, acquirement and development.................................7
2.1 Skills and capabilities required to launch a new venture:...............................................7
Task 3: Appropriate promotional activities to support the launch..........................................8
3.1 Different promotional activities and channels to support the launch:...........................8
3.2 Promotional activity plan for both launch and pre-launch:............................................9
Task 4: Appropriate legal form and a budget for launch........................................................10
4.1 Monthly cash budget for pre-launch and first 12-18 months preceding the launch:..10
4.2 Appropriate legal form for the venture:..........................................................................11
Conclusion:...................................................................................................................................12
Reference:.....................................................................................................................................12

Introduction:
In this era of modernization, the task of launching a new venture seems easy but in reality, the
task revolves around several complexities and a person who is launching a new venture should
know the technologies and tools used by organizations already running their business at national
and international levels. Globalization, a process of integration and interaction among various
groups of people, governments, and companies, is regarded as a form of capitalism that
integrates national and local economies into the unregulated market and global economy
(Barbero & et. al., 2012). Hence, helps small and medium enterprises to establish new businesses
in the market because of support from the government and easy access to loans. The organization
for this assignment is named Fashion and Trends which is planning to start a new business of
clothing at England market which deals in clothes for youngsters at a small level. Target market
and competitive analysis of the organization will be done along with the requirement of tangible-
intangible resources in business.
Task 1: The range of resources required to launch a new
venture.
1.1 New venture identifying specific target markets and
undertaking competitive analysis:
Those firms that are in their early stages of development and growth, maybe a product or a
business, to earn a profit is referred to as new ventures or entrepreneurial ventures. Fashion and
Trends is a small enterprise that manufactures clothing for boys and girls and is planning to start
a new venture of it for youngsters with an idea to bring creative and new trends clothes for target
customers. In the ongoing market of England, it will be a challenge for the company to survive in
the competitive market, but if they establish in the competitive market then people will be aware
of it very easily. Market research for survival and sustainability has been done and Fashion and
Trends are planning to start a business in England as it has a high economy which has been
confirmed through it. In course of time, there is a rapid change in taste, preferences, and trends
making the competitive market also change rapidly.
Identifying Target Market:

To decide objective market to achieve the end goal of creating bigger benefits, the
company needs to first identify its target market carefully as per need, want, and preferences.
Fashion and trends need to identify the group of customers within the available market which
aims to provide resources and marketing efforts and hence distinguish the particular target.
People having similar characteristics such as location, age, lifestyle, and income may fall under it
but Fashion and Trends have classified their target market on basis of the following segments:
Geographic: Geographic segment includes the people under the specific selected area
and Fashion and Trends has selected the UK which is one of the largest countries assisting in
increased sustainability and profitability of the firm.
Demographic: The division based on gender, religion, and age falls under the
demographic segment. Fashion and Trends have focused their target market on people of all
religions and any gender aged from 18 up to 25 years who are college-going students or
youngsters for providing goods.
Competitive Analysis:
There is a huge competition already existing in the clothing industry of the UK which
fashion and Trends need to be taken into mind and analyze properly and provide a variety of
products to their target market. The company’s core competitors like Plc, Marks, Spencer, and
Burberry are providing high-quality goods (Chrisman & et. al.,2012). It is their core
responsibility to provide unique and quality goods in the market which will help them to stand
out which will require knowing everything about the parties involved in the competition.
1.2 Tangible and intangible resources required for the
launch of a new venture:
Fashion and Trends being a new start-up company that sells and designs merchandise will be
growing, producing billions of dresses, suits, and other clothing and accessories that customers
buy. Hence, various resources will be needed for such huge production and business
sustainability and profitability.
Tangible Resources: