Starting a Business and Fundamentals of Marketing

Starting a Business and
Fundamentals of Marketing

CONTENTS
INTRODUCTION......................................................................................................................1
OVERVIEW OF THE PROPOSED BUSINESS IDEA............................................................1
AN EVALUATION OF THE EXTERNAL ENVIRONMENT (PEST)...................................2
PEST analysis.........................................................................................................................2
DISCUSSION OF COMPETITION AND COMPETITVE ADVANTAGE............................3
Porter’s five force model for competitive analysis.................................................................3
Competitive advantage...........................................................................................................4
SUGGESTION OF THE PROPOSED TRAGET MARKET....................................................5
CONCLUSION..........................................................................................................................5
REFERENCES...........................................................................................................................6

INTRODUCTION
Talking in relation with business, it is being defined as a crucial manner of obtaining
profit by making use of the current assets in which there is a requirement of compliance with
the ethical laws and moral duties of the country. Marketing on the other hand, is the way by
which the products along with the services are being raised in the market by adoption of
advertising plus selling approaches. Marketing plan is crucial for attaining success and
growth of the business (Kotler and Armstrong, 2018). Based on this, the aim of the present
research report is to prepare a marketing plan for the novel business of introducing a café in
London, UK. The report will reflect the overview of the business idea and will evaluate the
external environment through seeking help from PEST tool. Competition and competitive
advantage of the related will be discussed and suggestion for target will also be proposed.
OVERVIEW OF THE PROPOSED BUSINESS IDEA
In the current research report the new business being proposed by the researcher is the
introduction of the new café known as “Little London” which will be a service cafeteria near
the river Thomas near to the London Eye. This business is being proposed due to the fact of
rising development of the place where most of the people visit on a daily basis and feel sense
of relieve from the stresses of daily life. In this café, guest can enjoy with their friend and
family over a cup of coffee and snacks. The cafeteria will provide magazines for the clients
who have a keen interest towards reading over a cup of coffee (Wu and Mohi 2015). A
provision of live music will also be present for the music lover clients. In addition to this, this
new bran that is Little London will strive towards opting best probable efforts for
development of cafeteria into a place where all the clients will get a prospect to socialize with
other in a stress-free and calm atmosphere. Other than this, the amin key to success for this
new café is nothing but offering beverages as well as suitable foods at best quality to the
clients with classy entertainment, offering appropriate and effective training to the workers so
that they can deliver best services, effective marketing efforts to promote and generating
awareness of the new business across London and other nearby parts and maintaining quality
of food and beverages to be served to the clients. Furthermore, the Little London café will be
established by the joint partnership of two owners and both will hold equal stake in the
business (Cafes & Coffee Shops in the UK - Market Research Report, 2022). Additionally,
different facilities will be offered to the clients at the café such as musical ambience, reading
desk, separate washroom for men and women and wide range of food choices and drinks.
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