Starting a Business and Fundamentals of Marketing

Starting a Business
and Fundamentals
of Marketing

Table of Contents
INTRODUCTION...........................................................................................................................3
ASSESSMENT 1.............................................................................................................................3
Overview of proposed business idea...........................................................................................3
Evaluation of external environment............................................................................................4
Competition and competitive advantage.....................................................................................5
Suggestion for proposed target market.......................................................................................6
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................9

INTRODUCTION
Business plan is the document which summarise operational as well as financial
objectives of business. It addition to this, business plan contains detail planning and budget
which shows that how objectives are to be realized (Baldelli and et. al., 2018). This report is
based on Mr. Happy coffee Cafe who is coming up with some innovative product in market area
i.e., coffee cocktail with multivitamins. Respective project will going to discuss proposed
business idea along with external evaluation by conducting PEST. In addition to this, it will
going to analyse level of competition for respective coffee cafe and their competitive advantages.
In the end of report, STP model will implement for targeting market.
ASSESSMENT 1
Overview of proposed business idea
Business idea is concept that can be utilise for commercial purpose. In simple term it can
be said that business idea is typically centred around commodity as well as as services which
sold in exchange of money (Karki, 2018). For continuing an business idea there is requirement to
design business plan because it is an written which lay out plan from marketing, financial as well
as operational viewpoint. Along with this, it help in laying out its goals and objectives as well as
attract investment. In other language business plan is road map which give direction to business
firm so that company can plan its future. Along with this, it help in avoiding bumps in the road.
This report will going to design business plan for Mr. Happy Coffee Cafe which is
bringing their innovative product in market i.e., Coffee Cocktail with Multivitamins. Respective
Coffee Store is offering variety of products such as Sandwiches, Burgers, Pizza, coffee, shakes
and many more. There product is innovative which help in attracting large number of customers
from market area (Barnes, 2019). Now a days people are getting more health conscious in
respect of this company is offering this Coffee cocktail with Vitamins which help in grabbing
attention of people at wide level. Business environment is dynamic in nature in relation to this it
is important for business firm to be innovative because this is the only way by which company
can sustain in market for long term.