Assignment on Business Ideas
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Added on 2020-02-12
Assignment on Business Ideas
Added on 2020-02-12
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BUSINESS ESSENTIALS
TABLE OF CONTENTSIntroduction......................................................................................................................................3Task 1...............................................................................................................................................3Part A: Business idea...................................................................................................................3Part B: Objectives of new business..............................................................................................4Task 2...............................................................................................................................................5Task 3...............................................................................................................................................8Launching Event..........................................................................................................................8Budgeting.....................................................................................................................................9Task 4 ............................................................................................................................................10Marketing objectives..................................................................................................................10Target markets...........................................................................................................................11Marketing strategies...................................................................................................................12Marketing mix............................................................................................................................13Task 5.............................................................................................................................................14Task 6.............................................................................................................................................15Conclusion.....................................................................................................................................16References......................................................................................................................................172
INTRODUCTIONIn the modern globalized era organizations are suffering from high competition. In suchcomplex environment new firms have to work hard to establish their business well. Entities thosewhich want to enter into the market they are planning to provide unique products and services toconsumers in order to gain their attention and to attract them towards the brand. Changes inneeds of customers, technological advancement, political conduits influence the new businessplanning (Valera Gil, 2016). Present report is based on the business ideas. It will discuss theportfolio and objective of new organization. Study will emphasis on several factors that influencethe working of new business to great extent. Budget will be produced in order to identify thecost of the operations and knowing about the requirement of funds for establishing the new firm.Report will discuss about marketing objectives, target market, marketing mix and strategies ofthe entity (Lake and Drake, 2014). TASK 1Part A: Business ideaSince long time UK has grown well and people are taking more interest in hanging withtheir friends and families. A new coffee shop has high opportunity of getting high profit in theLondon. Holborn Chacery is the perfect location for the cited firm because this is near to manyuniversities so maximum students will get attracted towards the NATIRI coffee shop. Customerswant high quality coffee art affordable prices. Apart from this it will offer breakfast and lunch tothe students at affordable prices. There will be facility of green smoothie, sandwich varieties,baked beans, creamy mustard mushrooms on toast, cinnamon crepes with nut butter etc.Opening a coffee shop is very simple idea but there are many big competitor organizations suchas Strabuck, Costa etc. those which are suffering quality products to clients. NATIRI coffee shopis the start up firm that is planning to establish in the London (Edgington and Williams, BiotageAb, 2014). The organization is aiming to serve range of coffee flavors to the population ofLondon. College students, younger, adults like to spend some time with their friends andfamilies. The main aim of the company is to satisfy its consumers in order to enhance salesvolume of the organization to great extent. This sector has great potential to grow well, peoplelike to have coffee with friends so that they can spend some quality time thus, it is the great3
business idea and can help in establishing this shop in London easily (Pestle, Crowley andWeirauch, 2014). Cited firm is planning to open high street in the most visible market in London.There are many other big organizations those which are working in the same industry.But in such locations prices of the products are very high and customers have to wait a lot for theproducts and services. Due to this reason people go to such kind of places rarely (Igliński andet.al, 2016). Holborn Chacery is student area so there would be gathering of mass people so byoffering variety of food and coffee cited firm will be able to gain attention of students and otherconsumers. It will help in achieving goal of the NATIRI coffee shop significantly. Key competitors of NATIRI coffee shop:CompetitorsFeatures of the companyStrabuckBrand name and it is having great presence inUK, USA and many more countries.Costa Many branches in different location so peoplecan conveniently go there. Pret A ManagerInnovative products and servicesNATIRI coffee shop is having capable and skilled employees those who perform theirduties well. They like to serve better to the customers, they put their best efforts for the well fareof the organization. Company always work on innovative ideas and providing range is qualityservices so that it can grow well. Cited firm offers people caf au lait, Caramel Macchiato, CafMocha, Americano, Esspresso etc. types of coffee (Aithal, Shailashree and Kumar, 2016). Apartfrom this variety of breakfast items, launch variety south-Indian, continental, Chinese all type offood are available in the NATIRI coffee shop hat makes it differed from other competitors. Itprovides them products as per their budget and taste. NATIRI coffee shop always pay attentionon needs and wants of users and accordingly it provides them products. By this way companybecame more capable to establish their branch in the London more effectively. Apart fromproviding quality products, NATIRI coffee shop trying to reduce waiting time of consumers, sothat people can enjoy their moments freely. People like to spend some time but they do not wantto spend much amount. Busy life schedule, hectic workload, complex life style make peoplenegative but by offering them free space with coffee, cited firm can attract more consumerstowards the brand and can make them positive towards the brand (Hamdam and et.al, 2013).4
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