Starting a Business and Fundamentals of Marketing

This report discusses the business plan of Gone Vegan, a food company that offers healthy vegan food options. It covers PESTEL analysis, competition analysis, industry analysis, target market identification, and marketing plan. The report aims to provide insights on starting a business and the fundamentals of marketing.

STARTING A BUSINESS
AND FUNDAMENTALS OF
MARKETING

Table of Contents
INTRODUCTION...........................................................................................................................3
SUMMARY OF BUSINESS IDEA................................................................................................3
RESEARCH PRESENTATION......................................................................................................3
PESTEL Analysis .......................................................................................................................3
Competition Analysis...................................................................................................................4
Industry Analysis.........................................................................................................................6
Identifying the target market........................................................................................................7
Marketing Plan.............................................................................................................................8
CONCLUSION................................................................................................................................9
REFERENCES................................................................................................................................1

INTRODUCTION
A business plan report is defined as a written document which explains the objectives and
goals of an organization. The report will include information about Gone Vegan, a food company
which offers healthy vegan food options to the population. The products are designed in an order
to combine health with taste and improve the unhealthy eating habits of people.
SUMMARY OF BUSINESS IDEA
The idea to form the company took pace when people started suffering from chronic
diseases due to the consumption of non-vegetarian products and the demand for healthy
alternatives was at its peak. Gone Vegan is a food store that offers products like beverages,
frozen vegetables, instant foods and soups, and a wide variety of vegetarian dishes (Ali and
Anwar, 2021). The company will try to experiment and deliver various innovative products for
the customers. The prime focus of the company will be to provide people with more customer
satisfaction than its competitors and contribute towards reducing the cruelty around the world.
I have an experience of five years in the food industry and I relate to the demand of the
consumer. My business management and problem solving skills are the major reason for
innovating vegan products which is in a major trend in the current era. The food store will be
located in the London, UK as a major population in the country might suffer from health issues
due to over consumption of non-vegetarian products (Olson, and et.al.Zéman and Bogdan, 2019).
A lot of population in the area may be looking for healthy food option to get rid of their illness
and can become a suitable target market for the organization.
RESEARCH PRESENTATION
PESTEL Analysis
It may be defined as a strategic framework which is used to identify the external
environment of any organization by dividing the risks and opportunities into certain factors.
 Political factor :
Federal and state governments may be enforcing stringent rules for green house gas emission
which may put a negative impact on the business as the production process may get effected with
these types of restrictions in the business operations (PESTEL Analysis, 2022). The sector may
be under political pressure to ensure the quality of the desired products meet to the standards.
 Economical factor :

This factor may put a positive impact on the business as the industry may experience a growth in
the sales due to its huge demand in the market. As the vegan options are a lot cheaper than
animal meat it may result in increase of consumption of these products in the country.
 Social factor :
A trend of people shifting towards vegan products may put a positive impact on the company by
increasing the profitability of the business. The country may have seen a rise in veganism as
people are becoming more vocal towards the ill-effects of animal meat which may due to the
increase in chronic diseases in people.
 Technological factor :
This factor may put a positive impact on the business due to the extensive use o0f technology in
the research and development of vegan food products (Morgan and et.al., 2019). The new
advertising and delivery channels may also use social media technology.
 Environmental factor :
Vegan products may be considered as environment friendly and may cause less harm in the
society in comparison to the meat products. They are easy to process and cause less pollution in
the environment which may put on a positive impact on the business.
 Legal factor :
This factor may put a positive impact on the business as the food safety standard in the country
may be in the favour of companies related towards the alternatives for meat consumption to
reduce cruelty on animals in the area. It may benefit the organization to develop new products
and expand its services.
Competition Analysis
Competition analysis may be defined as a process of evaluating and categorizing the
potential of competitors to understand their weaknesses and strengths. It may help a business to
understand the position of the business in the market place comparing to its competitors. It may
help in creating an effective strategy to offer the customers with better products than its
competitors (What's a Competitive Analysis & How Do You Conduct One?, 2021). The
competitive analysis will be done by considering the four PS of marketing of both the companies
and identifying the difference between them.
Basis Gone Vegan Beyond Meat

Product The company will offer high
quality vegan products to the
consumers with options like
soy milk, frozen vegetables,
plant based meat etc. It will
focus on customer satisfaction
by developing the best suitable
products for the vegan store.
The organization offers vegan
products of standardized
quality to the consumers like
plant based meat and
beverages. It is a brand
dedicated towards
Price The company will focus on
providing the customers with
the minimum possible prices
for the best quality products
considering the needs of the
consumers.
Beyond Meat may focus a
niche category of customers by
providing the vegan food
products at higher prices to
depict its quality as superior
and may consider the market
as dominant towards higher
quality products.
Place Products of the organization
will be available at the London
market. Stores of Gone Vegan
would be established at
different parts in the city.
The company may have its
operations in the USA and UK
markets and looking top
expand its services at various
places to deliver people with
vegan food products in
different parts of the world
(McKenzie-Jakes, 2021). The
brand has a wider reach and
has its shipment services in
various nations.
Promotion The organization will promote
its brand with the help of
several social media platforms
The company may use
conventional methods like TV
and newspaper ads along with

like Facebook and Instagram
looking at the behaviour of
people to regularly surf at
these platforms to look for
advertisements and
information about new
businesses.
internet advertisement in order
to acquire customers of all
categories around different
nations. It has been successful
in providing creative
promotional practices
increasing its profitability.
Industry Analysis
The industry analysis will be conducted with the help of Porters Five Forces model,
which may be defined as a powerful tool to identify the main sources of competition for any
organization in the respective industry. By understand these foo0rces a company may be able to
make effective changes in its strategy.
Competitive Rivalry :
The power of this force may be high in the food industry and the company may face
barriers while establishing its brand in the market. The situation may be eased by adapting
effective strategies to provide customers with better products at economical prices to its
customers.
Bargaining Power of Suppliers :
It may be a weak force for the organization due to the large amounts there may be a lot of
options for the organization to choose from and get a better product at less pieces (Amelia,
Salamah and Sofyan, 2019). The suppliers may enjoy a less power according to the scenario in
the food industry as the company may decide the supplier they prefer and may compose
conditions.
Bargaining Power of Buyers :
The customers may have high bargaining power according to study of the food industry
as there may be a lot of options available to them. They may demand good quality products at
lower prices from the companies which may be threat to the organization decreasing their market
share.
Threat of Substitution :

Substitutes may have a strong power in the food industry and the company face problems
due to these options available due to the experiments and innovations daily taking place in the
sector increasing the options for customers to shift to other products (Mansor and Isa, 2020).
This may put a negative impact on the company resulting into decrease in the profitability of the
organization.
Threat of New Entry :
The threat of new entry is high in the food industry because of fewer barriers in the
sector. It may be cheaper to start a new business in this field and easily acquire funds in
comparison of any other business. This may impact the business in a negative way by increasing
the competitors in the market decreasing the market share of the brand in the market.
Identifying the target market
The target market will be identified with the help of STP model, which may be defined as
an approach to create marketing strategies that may focus upon discovering and optimizing
marketing towards the segment and target audience (Grubor and Jakša, 2018). It may include
three elements such as segmenting, targeting and positioning which help companies to identify
their potential customers and prepare an effective plan to promote their product to them.
Segmenting :
This part of the process may include dividing the potential customers into certain groups
according to their demography, geography, psychography and behavioral. These factors may
help the organization to make an effective strategy for targeting the audience, and they may be
described as.
 Demographic : The products will be available for the customers of all ages and from all
occupations as the idea of the company is to change the eating habits of the population by
providing with alternatives for meat.
 Psychographic : The people who focus on adapting to a healthier lifestyle may be
segmented in order to increase the market share of the organization.
 Behavioral : The traits of the segmented audience will be analysed to check the loyalty
of customers towards the preferred brand.
Targeting :
The business will use the undifferentiated strategy and will focus upon the entire market
instead of focusing upon a particular segment as it aims at changing the eating habits of the

general population (Han and Kang, 2020). It a crucial part in the process of promotion as the
customers may attract to the product when they are properly targeted and the organization will be
able to make better strategy to focus on the segmented market.
Positioning :
It is the final and most essential step in the process where the company will develop and
market its products in order to justify the segment created. The positioning of the brand to the
customers will be on the basis of the unique selling point of the vegan products developed by the
organization for the customers. The organization will provide the best quality products at
economical price to the customers to increase their attraction towards the business.
Marketing Plan
A marketing plan may be defined as a document which lays out the marketing strategy,
advertising activities and promotional activities of a business. It may include different aspects of
the business which may help the business to get an idea of the competitive environment.
Aim :
The main aim of the organization is to change the eating habits of people by providing
them with healthy food option to minimize their meat consumption.
Objectives :
 To increase customer satisfaction.
 To maintain productivity and profitability of the business.
 To provide the best quality products at minimal rates to the customers.
 To establish the brand name and expand into more places.
Marketing Mix :
It may be defined as a method to understand the product or service offered by any
organization to the customers (Hopp and et.al., 2018). It may be examined with the help of 4 Ps
of marketing which are as follows :
 Product : Gone Vegan will offer its customers with high quality vegan products such as
soy milk, plant based meat etc. to improve the unhealthy eating habits of the general
population.
 Price : The products will be provided at minimum prices to attract more customers
towards the business and providing them with value for money items.

 Place : The company will establish its physical stores at different places in London, UK
to provide the people with its services all over the country.
 Promotion : The advertisement for products will be done through social media platforms
and billboards all around the city to create an effective image of the brand among the
population.
Budget:
Resources Cost(£)
Research and Development 1000
Raw Material 5000
Production 7000
Advertisement 15000
Distribution 8000
Controlling and Monitoring :
The operations may be controlled by the business by continually tracking, reviewing and
adjusting the progress of the business by applying effective strategies to monitor the results.
CONCLUSION
On the basis of the above report it has been concluded that by using marketing strategies
and preparing an effective business plan which helped the organization to grow and acquire more
customers. It has been beneficial for the organization to get competitive advantage in the market.

REFERENCES
Books and journals
Ali, B. J. and Anwar, G., 2021. Marketing Strategy: Pricing strategies and its influence on
consumer purchasing decision. Ali, BJ, & Anwar, G.(2021). Marketing Strategy:
Pricing strategies and its influence on consumer purchasing decision. International
journal of Rural Development, Environment and Health Research. 5(2). pp.26-39.
Amelia, S., Salamah, H. and Sofyan, M., 2019. Effect of Marketing Strategy and Service Quality
Against the Decisions of Parents. Ilomata International Journal of Management. 1(1).
pp.31-37.
Grubor, A. and Jakša, O., 2018. Internet marketing as a business necessity. Interdisciplinary
Description of Complex Systems: INDECS. 16(2). pp.265-274.
Han, S. and Kang, E., 2020. The marketing strategy to stimulate customer's interest in art-gallery
business plan. The Journal of Distribution Science. 18(8). pp.47-54.
Hopp, C. and et.al., 2018. Revisiting the influence of institutional forces on the written business
plan: a replication study. Management Review Quarterly. 68(4). pp.361-398.
Mansor, A.A. and Isa, S.M., 2020. Fundamentals of neuromarketing: What is it all about?.
Neuroscience Research Notes. 3(4). pp.22-28.
McKenzie-Jakes, A., 2021. Some Fundamentals of Marketing Meat Goats. Professional
Agricultural Workers Journal. 6(2). p.1.
Morgan, N. A. and et.al., 2019. Research in marketing strategy. Journal of the Academy of
Marketing Science. 47(1), pp.4-29.
Olson, E. M. and et.al., The application of human resource management policies within the
marketing organization: The impact on business and marketing strategy implementation.
Industrial Marketing Management. 69, pp.62-73.
Zéman, Z. and Bogdan, A., 2019. Marketing strategy and building brand value on the Hungarian
market. Ekonomicko-manazerske spektrum. 13(2). pp.1-9.
Online
PESTEL Analysis. 2022. [Online] Available Through:
<https://corporatefinanceinstitute.com/resources/knowledge/strategy/pestel-analysis/>
What's a Competitive Analysis & How Do You Conduct One?. 2021 [Online] Available
Through: <https://corporatefinanceinstitute.com/resources/knowledge/strategy/pestel-
analysis/>

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