Launching a New Venture: Target Markets, Competitive Analysis, and Resources

This document provides insights into launching a new venture, including identifying target markets, conducting competitive analysis, and the tangible and intangible resources required. It also discusses the skills and capabilities needed, different promotional activities, and a proposal for launching a new venture.

Launching a New
Venture

Table of Contents
INTRODUCTION...........................................................................................................................3
Task 1...............................................................................................................................................3
Investigate and explain a new venture identifying the target markets and undertaking
competitive analysis...............................................................................................................3
Tangible and intangible resources that would be required for the launch of a new venture..4
Proposal for launching a new venture....................................................................................5
Task 2...............................................................................................................................................7
Skills and capabilities required to launch new venture..........................................................7
Task 3...............................................................................................................................................8
Different promotional activities and channels that will support the launch...........................8
Develop an appropriate promotional activity plan for both pre-launch and launch...............9
Task 4.............................................................................................................................................10
Itemised monthly cash budget for the pre-launch stage of venture and the first 12-18 month
following the launch.............................................................................................................10
Suggestion for an appropriate legal form of venture stating why it has been chosen..........12
CONCLUSION..............................................................................................................................13
REFERENCE.................................................................................................................................14
INTRODUCTION
Entrepreneurs develop and formulate a corporate strategy for their inventions before creating
a new business enterprise for their developments. A business plan is a written report that assists

entrepreneurs in putting their innovative plans into operation. Such preparations include the
company's mission, vision, and objectives, as well as a strategy for achieving those goals and
objectives, as well as a timetable for achieving those goals and objectives. Business plans assist
entrepreneurs in staying on track and act as an effective document when pursuing funding for a
business enterprise from investors. In this report, the following study is based on the formation
of a new company, including the necessary resources for launching, the expertise and
qualifications needed when creating a venture and how they can be gained, advertising efforts to
promote the launching of a venture, and the appropriate type of venture with a proper funding to
launch.
Task 1
Investigate and explain a new venture identifying the target markets and undertaking competitive
analysis
A new venture is classified as a project from inception to completion that is different,
new, and dynamic considered as a key factor involved. The market has been undergoing regular
change as a result of latest developments and threats, requiring an entrepreneur to innovate a
fresh and creative approach. The notable example is just the outbreak of COVID 19 which has
caused massive disturbances in the lives of individuals, especially children, as the education
sector has been heavily damaged and is serving as a barriers to their employment growth
(Tucker, Croom and Marino, 2017). To solve this problem, we launched an integrated teaching
strategies for children aged 6 to 20 years old, ranging from elementary education to higher
education. The aim is to provide students engaged in certain constructive work. Children have
been withdrawn from their studies as a result of the outbreak and have now been increasingly
involved in electronics and recreational sports. Mobischool's vision is to provide and every child
with an accessible curriculum option on the online, apart from children in kindergarten, and to
turn their spare time into study habits.
Competition analysis
Titus learning: Titus is an approved Moodle affiliate in the United Kingdom and is
gradually now becoming the leading LMS service provider to working professionals as well as
an online educational platform provider to students at schools, universities, and universities
across the globe.

Walkgrove: Walkgrove is a rising award-winning e-learning organisation in the United
Kingdom that provides e-learning solutions to students and businesses across the country
(Solomon, Alabduljader and Ramani, 2019). The group, which is owned and operated by
professionals, serves a broader client base, including business, education, charitable, NGOs, and
multinational corporations.
SWOT analysis
STRENGTH WEAKNESSES
 Customised online courses programs
with the opportunity to view video and
documented class lessons
 Qualified and experienced tutors that
provide full guidance and support
 Established courses and programs that
cover in-depth content
 Timing issues and rigidity in
determining course curriculum.
 There is less interaction and
communication between teachers and
students.
 Absence of practical assessments, as
well as the need for high-speed internet
service.
Mobischool is a revolutionary approach to delivering educational options to students, it
isn't without threat. For comparison purposes, online learning keeps children more involved in
technology and can contribute to internet abuse at times, which would be an increasing issue
among the guardians.
Tangible and intangible resources that would be required for the launch of a new venture
Resources are essential in the development of a new enterprise because they enable the
company firm to perform its operations (Bernardino, Santos and Ribeiro, 2019).
Mobischool is an interactive and educational web portal that offers online courses to students in
school to assist them in both overall learning and productivity growth. A company's resources
necessary for the implementation of a new venture which are as follows:
Tangible resources
Human resources: Mobischool needs a skilled mentor to support and direct students
through their learning. These instructors' primary purpose is to offer online courses for children
and develop a layout that meets their education specifications (Şahin, Karadağ and Tuncer,

2019). Mentors are also responsible for bringing question and answer exercises for students as
well as supplementary lessons to assist them with each and every task.
Equipments: The term equipment applies to all technological devices such as a monitor,
internet, scanners, detectors, digital boards, and a camera for capturing instructional exercises.
Instructors can direct, support, and instruct students using internet-connected computers and a
camera to capture the lessons.
Building and furniture: Mobischool needs a well-established architecture with
furnishings and appropriate equipment and facilities to carry out e-learning courses and prograes
and provide the best learning approach to school students.
Intangible resources
As the name implies, intangible resources are those that cannot be touched and do not
appear in operating operations, despite the fact that their existence is needed to be successful
venture launch.
Patents: Patents are exclusive privileges granted to the founder or creator to safeguard
their innovation from being used or copied without their permission coming from external rivals
(Ryu, 2019). These privileges are given for a limited time and can be extended at a later date.
Research and development: This is the key component in the promotion of positive and
successful launch of Mobischool as research and development activities will allow the
business to recognise the trends in the market and; necessitates and desires of the customer.
Research and development help the organisation in determining the purpose of its existence.
Copyrights: These rights allow the creator to have a fair say about how their creation
could be used and prohibits from the reproduction (Bandera, Collins and Passerini, 2018).
However, maker that the one who have legal power have the privilege to replicate the product.
Proposal for launching a new venture
Credible proposal for Mobischool
Business proposal is used by a business organisation to convince a potential client to
purchase the company's offering by providing a concise explanation of how the company's goods
and services suit the customer's demands and desires (Elnadi and Gheith, 2021). A corporate plan
summarises the company's mission, vision, and goals under which it was established.

About the company: Mobischool is a new business venture that initiative created to
offer online schooling options to children whose learning has been impacted by the COVID 19.
The idea behind e-learning is to help school students who have had their learning slowed due to a
variety of factors. Mobischool offers multimedia tutorials with comprehensive explanations as
well as offline mode captured videos for viewing latter which can be seen by the students.
Furthermore, the firm offers additional information and encouragement to students who are
having difficulty with their tasks and projects. The company's vision is to improve the student
environment through integrated learning strategies.
Analysis of industry: As Increasing technological developments, people all over the
world have become more technically minded, and companies are incorporating technology into
their operations, raising consumer expectations and demands (Barnes and de Villiers Scheepers,
2018). Education is embracing technologies to transform the student environment, and the e-
learning market in the United Kingdom is expanding rapidly.
Market and rivals: The global e-learning industry reached $250 billion in sales in 2020
and is forecast to rise at a 21 percent CAGR between 2021 and 2027. Walkgrove, Learning Pool,
Titus and many more are key players in the UK for Mobischool. These are leading organisations
that provide e-learning platforms to students from kindergarten, college, colleges, and working
professionals.
Strategies and goals: Business planning and strategies will assist the current business in
meeting its aims and objectives. Mobischool has implemented a differentiation approach in order
to gain competitive advantage and successful in the industry . To have superior quality courses
and programs, the company focuses on a growing market, which is school children. The
organization's goal and mission is to provide an online integrated educational session for the
students so that they are able to gain knowledge.
Product and services: The e-learning portal provides products such as video guides
developed by qualified and experienced professionals, interactive video lessons, personally
tailored classes for problem solving, and offline mode recorded sessions to watch later
(Bernardino, Santos and Ribeiro, 2018). Mobischool provides one-of-a-kind programs, such as
face-to-face encounters with instructors, that provide them the sense of being involved in the
improvement of educational institutes.

Task 2
Skills and capabilities required to launch new venture
There are only a few skills and competencies that can help an entrepreneur start and grow
a profitable business. Entrepreneurs are noted for their innovation, uncertainty capability and
innovative strategy, which distinguish them from other leadership and management.
Skills and competencies
Strategic and financial planning: These skills are known as the path to growth in order
to continue in industry or launch a new venture while remaining successful and meaningful in a
market setting. Financial preparation and strategy assist with effectively managing the main
source of a company and conducting each as well as every task in accordance with the budget
(Wang, 2020). Strategic planning, on the other hand, aids the organisation in gaining a
competitive advantage and increasing the level of performance.
Effective marketing skills: The important and key marketing skills such as aggregation,
product identifying the target and branding, consumer loyalty, and brand management can aid
the Mobischool in meeting its marketing objective and supporting the company to thrive and
expand in the long term. Creating and establishing a company necessarily involves the use of
effective marketing tactics in order to better grasp the requirements of clients and how to best
satisfy them.
Communication skills: To be an effective, an entrepreneur would have strong
communication skills that enable them to interact with clients, distributors, partners, employees,
and vendors. A straightforward and formulate communication with clear goal and objectives and
targets is positively related to organizational launch of a venture.
Hiring skills: Selecting the greatest talent with the right range of skills and experience
would enhance the business enterprise succeed in a competition and achieve a strategic
advantage over others (Proksch, Stranz and Pinkwart, 2018). Recognizing each staff's position
within the organization, as well as the optimal collection of skills, would assistance the
Mobischool in developing an efficient and profitable employees aim of supporting extremely
high quality experiential learning to the students.
Problem solving skills: There are many problems that entrepreneurs encounter when
starting a venture; thus, it is important for them to have vital skills and knowledge in order to
assess the problem and find a better response.

Learning program: This qualities may be acquired by engaging in a variety of programs
designed to improve specific skill sets such as interaction, ICT, and strategy formulation
and development (Tomy and Pardede, 2020). These programmes provided a means for
knowledge with realistic applications and activities.
Job shadowing: It is indeed a major tool to boost a new skill set and knowledge with
everyday tasks with another discipline. Within this curriculum, a leader in a related field is
appointed, and learners will develop experience and expertise from them by evaluating them in
their professional setting.
Task 3
Different promotional activities and channels that will support the launch
Promotion is considered as major component of the marketing mix that enables the
organisation to effectively engage with the potential customers on the products and services that
are provided to them. It doesn't matter how successful the business venture's proposal is, it
would suffer if the buyer is unaware of the worth of the products. Mobischool can choose from a
variety of marketing practises and platforms to position itself in the markets of the United
Kingdom.
Promotional activities
Advertising: It is a style of advertising campaign that can be described as any paying,
non-personal presentation given with the intent of communicating with a large number of
people . Mobischool uses TV and radio as a form of mass communication (Badri and Hachicha,
2019). To meet the target demographic, newspapers, journals, promotional commercials such as
hoardings, and the internet are used. This form of activity is extremely hazardous and
expensive but it is successful at targeting a wide potential customers.
Public relations: Mobischool's strategic communications efforts and tools are required to
integrate and create a favourable picture of the business with the goal of eliminating
misinformation and criticism. Although online learning is still regarded as an unsuccessful and
meaningless method of modern education, public relations will assist in building trust with
investors, clients, staff, corporate partners, and the society as a whole.
Sales promotions: These advertising events assist Mobischool in attracting the attention
of the school and students to their programmes (Lee, Chong and Ramayah, 2019). Sales

promotions provide customers with short-term rewards such as coupons, sponsorships, cashback
rewards, loyalty bonuses, and coupons. Mobischool also introduced a lifetime subscription for
their online learning, allowing students to pursue their learning without interruption.
Promotional channel used by Mobischool
With the growing utilisation of technology and the internet, businesses have chosen a
new medium to advertise their offerings and engage with their potential customers. Among the
important tools chosen by the new venture are:
Pay per click: The most important way to shift internet data traffic to the company's
website is by cost per click and pay per click. Each internet user click costs the marketer and is
billed to the provider, such as Google, AdWords, Yahoo AdWords and others. The idea is to use
the most popular main terms to get a business's up on the first page of search engine results
pages.
Search engine optimization: When an internet person switches to a search engine and
types in a text for what they really want or want to purchase, this is perhaps the most powerful
method for attracting new buyers. If the consumer requires what the business is doing, there is a
good chance that a prospects user will be turned into a future buyer.
Develop an appropriate promotional activity plan for both pre-launch and launch
A successful marketing strategy assists an organisation in meeting its objectives and
priorities established prior to the start of a venture. The aim of pre-launch promotion strategy is
to increase awareness and interest among the target community prior to the launch of a company.
Mobischool hopes to accomplish this by establishing consumer satisfaction and laying the
groundwork for future sales.
Pre-launch promotional activity Plan
Content marketing: Taking things away for free to provoke the imagination and
attention of the potential customers is one of the easiest ways to increase awareness prior to the
start of a campaign (Murnieks and et. al., 2020). Mobischool will offer video guides, e-books,
live video, and testimonials on a new business concept through marketing strategy, which is an
excellent solution for providing free useful tools to stir up one's curiosity. The aim of using
content marketing during the pre-launch period is to convince consumers that the right solution
to their concern is found in the company's product and services.

Social media editorial calendar: Social marketing networks, where social media
consumers perform product testing, are one of the strongest reasons for finding the target
customer for a company (Delanoë‐Gueguen and Fayolle, 2019). The use of a social media
editorial calendar will serve to pique the customer's imagination and curiosity.
E-mail marketing: Email marketing is a powerful tool for reaching out to the potential
customers and informing them about the introduction of a new venture. Mobischool may use
email automation to send a series of customised emails to prospective customers in order to
persuade and show them how the firm follows the criteria for delivering the service they want.
Launch promotional activity plan
Create referral campaign: When starting a venture, a business can use existing
customers to connect with potential customers through a referral scheme, which is designed to
create more leads by providing benefits to customers such as bonus points, discounts on
Mobischool courses, and loyalty programmes.
Trade show and other marketing campaign: It is one of the most effective ways to
engage a large number of people is to organise a series of activities such as trade shows,
exhibitions, and campaigns in educational institutions to draw more students (Secundo, Rippa
and Meoli, 2020).
Using websites and social media: Mobischool will officially declare the start of a new
venture on their online webpage and can post content and stories on Instagram, Facebook, and
Twitter with various messaging options to spread the word.
Task 4
Itemised monthly cash budget for the pre-launch stage of venture and the first 12-18 month
following the launch

Suggestion for an appropriate legal form of venture stating why it has been chosen
From the above, following the selection of the type of company, the next step is to choose
the appropriate legal body to begin the operating actions of the company. Offering the company
a legal form determines how the corporation structures its finances and properties. Mobischool is
a business enterprise established with the aim of delivering schooling to students who have been
affected by the pandemic and are unable to pursue their studies due to lockdown and other
reasons. We picked sole proprietorship for this kind of business venture because it is the shortest

legal arrangement with the least amount of expense and effort. It is a non-corporate organisation
that is owned and controlled by a single person. And unlike types of businesses, a sole
proprietorship does not constitute a distinct legal body, and the owner is solely responsible for all
possible liabilities borne by the company.
Reasons to choose sole proprietorship Tax advantages: The entity's revenue is treated as real income and is charged only once.
The sole proprietorship business does not pay for itself.
 Convenient and economical method: Forming and establishing a sole proprietorship
company needs less resources, time, and resources since there is a low fee and little or no
legal paper work or any documentations required. Fewer federal regulations: Unlike most types of businesses, sole proprietorships are
subject to less legal standards and devote little time and effort to financial reports to the
public.
CONCLUSION
From the above analysis, it can be concluded that, to start a new enterprise, entrepreneurs
must create a strategic strategy and a proposal that will guide them through the whole process of
developing a company and ensure that the goal, vision, and objectives of the project are fulfilled.
These ideas assist entrepreneurs in informing customers and consumers of how their expectations
and values are fulfilled and expectations are delivered through the company's offerings in
included in this report.

REFERENCE
Book & journals