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Launching a new venture in target market for easy eat fast food

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Added on  2020-07-23

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LAUNCHING A NEWVENTURE INTRODUCTION 1 TASK 11 P1 Competitive analysis of new venture in target market 1 P2 Tangible and intangible resources for launching new venture 2 TASK 23 P3 Credible proposal for launching a new venture 3 P4 Several skills and capabilities for launching new venture 4 TASK 36 P5 Promotional activities for launching a new project6 P6 Promotional activities plan for launching and pre launching of “ Easy Eat Fast food ” 7 TASK 48 P7 cash

Launching a new venture in target market for easy eat fast food

   Added on 2020-07-23

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LAUNCHING A NEW VENTURE
Launching a new venture in target market for easy eat fast food_1
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Competitive analysis of new venture in target market...........................................................1P2 Tangible and intangible resources resources for launching new venture..............................2TASK 2............................................................................................................................................3P3 Credible proposal for launching a new venture....................................................................3P4 Several skills and capabilities for launching new venture ...................................................4TASK 3............................................................................................................................................6P5 Promotional activities for launching a new project .............................................................6P6 Promotional activities plan for launching and pre launching of “ Easy Eat Fast food ”.......7TASK 4............................................................................................................................................8P7 cash budget for pre launch phase for 12 months .................................................................8P8 Legal form of “ Easy Eat Fast food ”...................................................................................10CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12
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INTRODUCTIONGlobalisation is a process through which organisation gets an opportunity to show theirinfluence in new business market. In current trends it has given chances to small scaleorganisation to plan and invest their business activities and earn profit. “ Easy Eat Fast food ” isa small scale business that has concentrated on providing healthy fast food in in London. Bygenerating innovative ideas and implement them effectively so that they can expand their grassroots in all UK (Tang, 2011). This assessment focus on company' s strategy on identification ofstrategy market, using tangible products, skills and capability required and budget required forflourishing their business in market. Apart from this this project will also discuss several macroand micro factor that can affect business activities of organisation. TASK 1P1 Competitive analysis of new venture in target marketIn current business market globalisation has given opportunities for new entrepreneur andsmall scale business to setup their business and earn revenue. This assessment truly focussed onstarting a new business in fast food sector in Islington (one of the most populated area inLondon). They are truly focussing on investing in organic food items so that they can providebetter quality of food for people. For successful running of their restaurant called “ Easy Eat Fastfood ” they have to plan better to gain comparative advantage and earn profit by their newbusiness idea. Identifying market – Entrepreneur has planned to setup their business in Islington(considered as the most populated area in UK). They have predicted that being a posh area it willprovide more number of customers for their restaurant. The another factor that has beinganalysed is expectation of people in that market (Baron, 2011). It is observed that place is havinglost of fast food restaurant and providing organisation food will help them to increase theirinfluence in that marketTarget market: Easy Eat Fast food provide healthy fast food in London which is theirtarget market. Along this, company is established near college area, gym and many other placeswhich have youth which prefer to get healthy food items to remain fit. 1
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Competitive analysis – By better analysis of competition in market company can makeefficient planning and strategies to increase their productivity in business market. There arenumber of restaurant like Little Georgia Islington, Afgan Kitchen Restaurant, Salut! Restaurant,doing efficient business by putting innovative ideas in their restaurant for getting more profitfrom their business activities (Bijker, 2012).Porters five forces analysis:It is an efficient tool which help organisation to have knowledge about competition levelof industry in market. In context of manager of Easy Eat Fast food uses this model to haveinformation about about present position of firm in respect to its competitors. This modelcomprises five factors which are described beneath:Threats of new entrants: This tactic define that new firms increases in sector which ismaking profit. This impact on sales of existing firm, as customers options increases. But, as newentrants require to construct its brand name which takes time. As per current market scenario,Easy Eat Fast food which is food sector firm has low level of threat of new entrant which isstated through research conducted by management. Bargaining power of buyers: It is another aspect which define that customers haveauthority to purchase products and services at their rates, if there are small number of firms inmarket. Easy Eat Fast food is new firm, so people have power to charge high prices. Customersprefer to buy products from existing cafe or restaurant, for this, company offers healthy fooditems to attract people easily. Bargaining power of supplier: This is another tactic which specifies that organisationrequire material and products to satisfy demands and requirements of people. For this, suppliersare in power when there are in less number and large firms are present in market. Easy Eat Fastfood require raw material for production of healthy food items. For this, managementresponsibility is to maintain relations with suppliers to order things timely and at appropriaterates. Threats of substitutes: It is aspect which define that products and services that are ofsimilar are substitute for each other. For this, people have options to purchase items in accordingto their needs, its quality and rates. Easy Eat Fast food is new firm which offer healthy foodproducts substitute items are rival firms in this sector. 2
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