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New Venture Creation Assignment

   

Added on  2020-10-04

10 Pages2279 Words31 Views
New Venture Creation Report
New Venture Creation Assignment_1
Table of ContentsCOURSEWORK 3: NEW VENTURE CREATION REPORT......................................................1Description of products and services and its Unique selling position........................................1Justifying its uniqueness through preliminary data search and competitor analysis..................1Determining marketing attractiveness: e.g. market size and potential growth throughidentification of potential customers, market trends ..................................................................2Determining business strategy with a clear route to commercialisation e.g. technicaldevelopment, licensing of intellectual property, marketing implementing ................................2Identifying potential risk and way to manage ............................................................................3Justifying expenditure to run the event Equipment and running costs.......................................3Describing key operational requirement, premises, IT and management systems, qualityrequirements ...............................................................................................................................3Demonstrating credibility of management team.........................................................................4Demonstrating financial rewards and loan requirement for potential investors.........................4Financial plan of Coins 4 convenience.......................................................................................5Reference ........................................................................................................................................8
New Venture Creation Assignment_2
COURSEWORK 3: NEW VENTURE CREATION REPORTGoals and objective of the business The main goal of the “Coins 4 convenience” is to provide quality services to customersat lower price. Its aim is to provide facility to clientele to convert their coins in usable cash.This can help firm in grabbing attention and increase in sales of product and services of theorganization. In addition to this, “Coins 4 convenience” also gives coins exchange machine onrent to parties who are interested in it such as supermarkets, retailers etc. One of the foremost priorities of the Coins 4 convenience is to provide quality servicesto its customer and to establish one of the successful organisation. Objectives of Coins 4 convenience To create awnress among people related to coin exchange services. To offer high quality services to its customers at lower prices. To provide assistance to consumers seeking for coin exchangeDescription of products and services and its unique selling positionCoins 4 convenience is determined to seek opportunities into UK’s coins exchangemarket. The products and services which they offer to customers are coins’ exchange services.They will provide machine which exchange coins to clients . This machine will count coinswhich are poured by clients and issue a receipt which shows details of transaction. Inaccordance to this, the firm also provides cash exchange machine on rent to the interestedparties that is supermarket and other major convenient stores in London (Ward, 2016). Theunique selling position of the organization is based on services which they deliver to customer.Along with this, it offers coins’ exchange services, smoothly and cost effectively. The pricewhich it charges from the customer is lower than its competitor for attracting and retaining largenumber of customers in the market. Services which are provided by “Coins 4 convenience”enables its clients to easily convert their coins into easily usable cash. Justifying its uniqueness through preliminary data search and challenger analysisCompetitor analysis is known as the assessment of the strengths and weaknesses ofcurrent and potential challenger. There are few rival of “Coins 4 convenience” that are bothdirect and indirect competitor. Some of its direct challenger are cash in your coins, cash 4 coinsand coins international among other etc. while indirect rival include all the business who sell1
New Venture Creation Assignment_3

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