Launching New Venture Report - Ultimate Bakery Shop
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Added on 2020-09-03
Launching New Venture Report - Ultimate Bakery Shop
Added on 2020-09-03
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LAUNCHING A NEWVENTURE
INTRODUCTIONIn this world there is a huge competition and particularly in same environment, it is quitecomplex to launch a new venture in market. Entrepreneurs are those who need an effective skillsand abilities to make out there business in the market. Specifically, entrepreneurs are those whohas some aims and objectives for which they do establish in market environment. Even though,firm to make themselves ready to face many more challenges and cut-throat competition whichdo manipulate them to earn a good amount of profit too (Baron and Tang, 2011). The report isbased on Ultimate Bakery Shop that is going to start in London, UK. Basically business willserve millions of people with there product like, bread, cookies, cakes and sandwiches etc.Generally, it is required to analyse market conditions, expectation of customer etc. Assignment will discuss about, tangible and intangible resources needed to launchventure. Basically, it is such which do produce an proposal with assess as skills and capabilitiesfor having an new business. Promotional activities and channels which undertake and alsodevelop launch or pre-launch. TASK 1P1 A new venture which do identify the target market and competitive analysis.Ultimate Bakery shop is that which do deal in with various product and services that dosell products in market place. Basically, in present scenario different people are there who arehaving an habit of purchasing an baked products like pastries, burgers and cakes too. In terms,the business is going to be started in the mid of London, as because this can help in attracting thelarge number customer towards the company in better way (Bijker and et. al., 2012). Normally aplan is made up which do cover various thing.Even though, they are going to start a new business venture which do lead to UltimateBakery Shop that do open up in the area of around 2500 Square foot place in market. Normally, aaccurate amount is required to open a business and it could be around an £ 4,28,350 to£4,30,500. Objectives: Main motto is to earn profit in right format in starting few years then Boom side. To provide an quality product and services according to customer needs and wants. 1
To become the best bakery shop in near by places where it is located and afterwards toenhance furthermore too. To enhance productivity to expand there business in great way. Mission: “To provide an effective product and services to customers at reasonable rates accordingto consumer needs and wants”. It is such which lead for entity to work hard and to choose better modern equipment forattaining goals and objectives in great manner (Caselli and Negri, 2018). Even though, it alsolead to provide those food items which could consider the human health postures. Quality inproduct and satisfaction among customer can make them stable in market and also attract manyother people attracted towards firm too. Target Market: It is such which is considered as an needed concept which needs to beundertaken while making an effective strategies and decisions as because this could help entity tofocus on specific scenario to provide there product and services in great manner. Basically,segmenting an market according to the requirement of consumer demand and needs, even thoughthis also include some of the things and components like there income level, gender, region andage etc..Ultimate Bakery Shop do make an target audiences so that can make an proper policyand procedure in there entity based on same too.Competitive analysis: It also consider in with various competitors who do deal in withthe same products in great manner. Basically, there are huge number of competitors which isbeing available in market and with whom the ultimate bakery shop has to fight up on. Specially,it needs to cover the large market of London. To gain a better competitive advantage in market, itis required to make a proper strategy and decision with having an innovation and creations invarious products of firm (Burns, 2017). Normally, it is quite necessary for the entrepreneur thatalso needs to determine some plans which do formulate it in effective way too. P2 Tangible and Intangible resources which required for a new venture.Launching a new business in market is not easy term, even though it is required to bringin a proper plan before implementing or establishing a entity. Many considerations are therewhile formulating a plan and it do include resources as (proper funds, financial availability,modern technique to produce product and services etc.) which do help entity to work in rightdirection and even in effective way too. Ultimate shop do sell there product and services to large2
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