Launching a New Venture: Target Markets, Resources, and Promotional Activities

This document discusses the steps, strategies, techniques, and resources required for launching a new venture. It covers target market analysis, tangible and intangible resources, and promotional activities. The document also includes a cash budget and legal requirements.

LAUNCHING A NEW
VENTURE

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
LO1..................................................................................................................................................3
P1 Target markets and competitive analysis...............................................................................3
P2 Tangible and intangible resources required............................................................................4
P3 Proposal of launching.............................................................................................................5
LO2..................................................................................................................................................6
P4 Skills and capabilities required to launch a new venture.......................................................6
LO3..................................................................................................................................................7
P5 Promotional activities and channels.......................................................................................7
P6 Appropriate promotional activity plan...................................................................................8
LO4..................................................................................................................................................9
P7 Cash budget............................................................................................................................9
P8 Legal requirements...............................................................................................................10
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
Launching a new venture is not a small task for a person, because there is that person has
required to complete or cover many activities for successfully launch a venture. Currently lots of
new businesses or ventures are continuously launching in different market segments, in which a
business a person should develop a specific plan before launching a new venture. Many times
people face failure in successfully launching a new venture because of poor business strategies.
That’s why each person is responsible to complete full market research before starting a
business. In the launching time period of a business, there are strong and effective marketing
research has highly required. This report discusses steps, strategies, techniques, laws etc. which
top-level management of the Bright coffee house should consider while launching this coffee
house in the selected market segment. Some major promotional techniques has also included in
this report which can support to management of this coffee house for promoting its products and
services in the initial stage.
LO1
P1 Target markets and competitive analysis
Target market analysis is highly important and constructive to analyze for reaching large
level segment customers while establishing new company and business framework. It assists in
optimizing the various forces of resources, potential new supply chains and regenerate various
productive activities through which range of customer segments can be developed in business.
Bright coffee house , a new innovative business venture which plans to serve customers with
coffee products, refreshments and various services to provide customers comfortable visit where
they can spend high quality time. Bright coffee house for targeting markets and potential
customers with high research factor will have to reach various metrics, paradigm development
for high optimistic growth into industry. Companies for occupying long term competitive place
among other companies, brands have to target market effectively and competitive analysis works
as an evocative measure to leverage the external forces and customer preferences for gaining an
enlarged productive place among all competitors (Jalil and Hwang, 2019). Bright House cafe
need to potentially strengthen its market reach with high potentiality to build new talents ,

programs to determine various goals and marketing objectives which will enable in competitive
analysis. The Bright house cafe have huge competitors of various cafes, hotels serving customers
high class services with high class quality services and the various potentialities with which there
can be completion of targets. Youngsters are the prime target customer segments of cafe as
demographically its is situated near universities and in main place of city which highly increases
the competitive force. Targeting of market will enable in strategic planning and allocation of
resources into various departmental activities which will further aid in bringing leveraged
financial growth and huge optimistic market growth. Competitive analysis can be done by
various financial metrics, social media surveys which will program out various new avenues and
determinants which will gather insights into productive chain of Bright coffee house cafe
(Aureli, Giampaoli, and Bontis, 2019).
P2 Tangible and intangible resources required
The various tangible resources through which Bright Coffee house will enable its
business horizons grow with high innovation and creatively serve customers vividly are well
furnished sitting arrangements with modernised infrastructure. Tangible services are highly
important as they enhance outlook and presentation of cafe along with positively impacting
customers with attainment of delivering high class services. Coffee machines and cooking
equipments are highly important to serve customers better and fast for customisation of various
orders which will not enable internal staff members to deliver customers better but also evolve
overall scenario (Met, Uysal and Orç, 2020).
Other tangible sources are the various networking systems through which high
promotional strategies can be developed on various grounds, new innovative ideas are structured
only when there is strong development within the tangible sources of equipments and machinery
to serve customers well. There is also requirement of well nutritional ingredients which will
further add to company portfolio of products, drinks and various functional efficiency with
which the overall structure can be developed fir gaining strong coverage within market segments.
Intangible resources which will further add to company productive cycle are talented, well-
spoken employees with the creative aptitude to function ethically during their services. Moreover
leaders within teams need to have long term business view where ideas cultivation, leveraging
potentialities and marketing skills work as an important talent. There is high demand of diverse

workforce who are able to deliver technology related services, product development and yield
new factors through which there can be enhanced culture productivity within various
departments. Bright cafe house leaders need to develop inner talented skills to create strategic
planning and business models through which they can train employees better and functionally
program new avenues which will create extended market for customers. The intangible skills
arena important factor through which company can compete with competitors by delivering new
high class services and conducting ethical business practices , through which they can evolve
with dynamic business needs and rapidly serve customers efficiently (Putra, 2019).
P3 Proposal of launching
The proposal of launching Bright Coffee house cafe, a new bistro company serving high
quality services and products varying with high class products and innovative services through
which there is strong competitiveness set among brand products. The proposal of launching will
serve potential customers near business arena where promotional strategies will enable company
to reach large avenues of serving customers vividly. Strength of Bright House cafe which is new
venture is the high quality healthy products and snacks it will be serving to customers, then other
strength is the rapid technology standards it uses within internal structure. Weakness can be
assessed that there is high level of competition among cafes , bistros in the area which has
brought various problems and scenario of ethics through company. Launching of products and
bringing services among consumers will help customers to get idea of various activities which
Bright House cafe will deliver to customers. Later there is also high competition and preferences
of customers are rapidly changing among industry which brings large focus towards various
sources on which there need to be gained access. Launching factor plays an important role in
serving customers and enhancing promotion tools as it becomes easy and detrimental to serve
customers ethically, keenly leverage productivity and also bring strong technical efficiency.
Bright cafe house cafe have the role to launch its products and services among customers in
potential markets by leveraging its delivery of services , bringing creative marketing techniques
and also research better in various paradigms through which further programming of functions is
developed . Bright coffee house with launching of cafe and proposal activities will enhance its
reach of business plans within customers , technically bring customers close to market trends and
the various force which are structured within departments of business (Ahmad, Rahman, and

Halim, 2020) Also it can be explained that fundamentally it becomes business ethic for serving
customers based on various parameters to deliver them with strong innovative marketing .
LO2
P4 Skills and capabilities required to launch a new venture
There has to be the right knowledge, skills and capabilities in the management of an
organization to start a new venture in the market which is a very important factor for the
business. There is a requirement of huge investment in any new venture to start in the market
which has to be considered so that there is a better functioning. The skills and capabilities which
are required for a new venture to start are as follows.
 Decision making
There is a requirement for making the right decisions for the organization because there are a
lot of risks which are involved when a new venture is started in the market (Villani, Linder and
Grimaldi, 2018). Bright coffee house in UK is going to have a lot of competitors in the market
but they have to make decisions which are unique in nature so that they can get a competitive
advantage.
 Ideas and innovations
There are a lot of innovative ideas which have to be generated for the bright coffee house so
that they can have a better market for themselves.
 Leadership
Since Bright coffee house is a new idea and there are a lot of innovation therefore there has
to be a strong leadership which is required in the organization so that there is proper training so
that the standards of the coffee house can be met.
 Planning
The planning for the Bright coffee house has to be done effectively so that they can capture
the market easily which is a very important factor for the organization. There is a lot of

competition which is why making a proper plan for them to enter the market and having a good
market share is very essential (Burns, 2017).
 Communication
All the employees of the coffee house must have a common vision for the organization so
that they can help the organization to have a better functioning for them. Communication in the
organization gets in a sense of direction which has to be followed and this is going to help the
organization have a better functioning.
LO3
P5 Promotional activities and channels
There are a lot of channels which are present for all the ventures to promote themselves
in the market and it is very essential for the organizations to promote themselves because the
competition is increasing and to overcome that they have to promote themselves from time to
time (Géraudel, Gast and Gundolf, 2017).
 Email marketing
There are mails which can be sent to the customers from time to time so that there is a better
functioning of the organization. There is a lot of improvement, changes or innovations which
have been done in the new ventures which have to be put across to the customers so that they are
aware. It is only when the customers are going to be aware will they want to come again and
again to the place.
 Facebook Ads
Advertisements can be put on Facebook since today’s generations is into social media like
Facebook this is going to be an effective way to get in customers in the organization which is
going to help the organization to get high profit margins.
 Host events

There are a lot of events which can be held in the organization which are new because the
customers come in because of the events but if the services are good and they are satisfied then
they might want to visit again and again. It is very important for the organizations to attract
customers even though it is due to the events which are being held. Even the events are going to
add to the revenue of the venture.
P6 Appropriate promotional activity plan
Pre launching of Bright coffee house there should be an online site and accounts on social
media networks so that they can have people to come in when the coffee house opens. This is a
very important factor for the organization to have so that there is a well balanced work place and
the organization will be able to capture the market share easily (Kuratko and Hornsby, 2017).
There has to be a buzz of the organization online so that they can get in customers easily which
is going to make the organization capture the market faster. There have to be events held in the
coffee house so that there are customers which can experience the ambience of the organization
which can make them want to come again and again which is a very essential factor. It is very
important for the coffee house to have a better promotional technique so that they can have more
market share so that they can compete with the competition in market.
Launching the coffee house there should be a free service to the customers so that they
can know how the services of the organization are which is very essential for the organization.
There has to be a good communication in market about the coffee house and there have to be
advertisements which have to be put out so that they can gather more attention of the customers.
Campaigning can be done but those can be more helpful for a large scale organization but for
Bright coffee house there has to be a good advertisement which tells the customers about the
objectives they have for the customers which is going to be liked by the customers (Amine,
Cavusgil and Vitale, 2016). There have to be in store promotions as well which have to done in
the coffee house which is providing discounts and other factors for the customers to come in the
Bright coffee house so that they can have a better functioning. Reviews have to be taken by the
customers in the coffee house so that they can find out about the changes which are required and
improved upon which can make the customers of the coffee house more satisfied. It is very

important to use these promotional techniques by the coffee house so that they can have more
customers and fulfil the needs and demands of them on time.
LO4
P7 Cash budget
A cash budget always includes various expenses which the management is required to do
when it is launching the new venture. Top-level management of bright coffee house need to
prepare a productive cash budget plan which will provide an effective financial support to the
new venture while it’s both pre-launch and post-launch time periods (Bacchetta, Benhima and
Poilly, 2019). The productive pre-launch cash budget for the Bright coffee house has been
mentioned below;
Area of expenses Amount (£)
Raw material £2500
Salary and wages £1000
Legal formalities £500
Promotion £1500
Transportation £750
Total £6250
This cash budget has included only such expenses which the top-level management of
Bright coffee house has required to expend in the pre-launch time period. Owner of the venture
has required to expend fund on those activities within the post launch time period as well. An
another productive cash budget plan for at least 18 months’ post--launch time period has been
mentioned below;
Area of expenses Amount (£)
Raw material £1250
Salary and wages £400
Legal formalities £250
Promotion £500

Transportation £800
Total £3200
The management of Bright coffee house has highly need to consider these mentioned
cash budget plan in its business operations while both time periods pre-launch and post-launch.
These cash budget plan will highly help to the Bright coffee house in fulfilling it’s all financial
needs. An owner when newly start an its venture, on that time period that owner faces many
difficulties and challenges which has based on budget and finance (Bastagli and et.al., 2016). In
this situation, this cash budget plan is only the source for many businesses to perfectly dealing
with difficulties relating to finance. That’s why these cash budget plan will really help to the
management of Bright coffee house while launching this venture in the selected market.
P8 Legal requirements
A business, company or venture always has required for fulfilling various legal
requirements in the time period of launching their products and services in the selected market.
Some major legal requirements have been discussed below which the top-level management of
Bright coffee house highly need to fulfil in both stages pre-launch and post-launch.
Registration: Owner of each business in the United Kingdom has required to register its business
or venture in those governing offices which mainly manage business environment of the UK.
These governing offices allots a legal licence to various ventures to legally launch and start their
venture operations in the selected market of this country. In this situation, the management of
Bright coffee house also has required for registering own venture to get a legal licence for
lunching its venture in the United Kingdom's business environment.
Employment Law: The Bright coffee house has required to consider employment law also in the
both stages the pre-launch and the post-launch (Miller, 2017). The coffee house will able to
achieve an effective or efficient workforce with the help of this employment law, Reason is,
most people or employees always has interested for working in such workplace, where the
existing management fully adhere or follow employment law. This is the main reason that, the

Bright coffee house should follow this legal consideration as well in own existing business
operations.
Contract Law: This is one another main legal requirement which the existing management of
Bright coffee house has required to highly consider in its daily operations. A company or
business always has required to sign different contracts with its different stakeholders. For
example; investors, suppliers, advertisement companies etc. In this situation, this contract law
mainly supports for solving various conflicts between stakeholders and management. That’s why
Bright coffee house also need to adhere or follow this law in its venture operations.
CONCLUSION
It can be concluded that existing management of Bright coffee house should follow
different venture launching steps and strategies while launching its own venture in the selected
market. There is a competitive analysis also has mentioned above which can support to this
coffee for gaining competitive advantage in the initial stage. Some major tangible and intangible
resources also has discussed above which will help to the management for boosting its venture in
post-launch stage. A credible proposal has mentioned here which is helpful for the Bright coffee
house launch. There are various skills and capacities also has included above which has highly
required in the existing management to successfully launch its coffee house. Upper management
of company highly need to consider various promotional activities while launch their venture,
because it will be able to attract lots of new customers towards brand in initial stage by
conducting these all activities. A productive cash budget also has added in here which will
support to this coffee house in fulfilling its all financial needs in both phases pre-launch and
post-launch. On the other hand, the management has required to fulfil various legal formalities
while launching its new venture the Bright coffee house.

REFERENCES
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