Launching a New Venture

Unit 28
Launching a New Venture
Student Name;

Table of Contents
INTRODUCTION ...........................................................................................................................................3
P1: Investigate & explain a new venture identifying particular target markets and considering
competitive analysis...............................................................................................................................3
P2: Determine specific physical & nonphysical resources which is needed for the launch of a new
venture .................................................................................................................................................5
P3. Produce a credible proposal of the new product..............................................................................6
P4 Skills and Qualities required in order to ensure final proposal as a reality........................................7
P5 Ideas for advertising or marketing of new product...........................................................................9
P6 Advertising plan for the pre-launch and launch of the new product...............................................10
P7 Cash Budget for the launch of new venture....................................................................................10
P8 An appropriate legal structure for the venture...............................................................................13
CONCLUSION.............................................................................................................................................14
REFERENCES..............................................................................................................................................15

INTRODUCTION
Entrepreneurs is a person who establish business by taking financial risk with an aim to
earn profits. In addition to this, they are innovators who find opportunities in order to set up their
own business that is innovative at marketplace. In order to launch a new venture, it is important
for entrepreneur to analyze the market requirements and current trends so that it can take place
easily in market and earn profits as well (Auschra, 2019) . For gaining better understanding A
new venture is launched as “Healthy Delights” in UK. It offers sugar free and fresh bakery
products that is of good taste and quality as well. The report will cover various sources needed in
order to launch a new business venture. Along with this, skills and capabilities which is required
to successfully implement activities of new venture will be discuss. Moreover, different
advertising and promotional activities needed to promote new venture is describe. In the last,
itemized cash budget is develop and legal structure for ventures is going to cover in the report.
P1: Investigate & explain a new venture identifying particular target markets and
considering competitive analysis
Healthy Delights is new venture that has launched in UK that consist of hub of cafes and
restaurants as well. After analyzing the new market trends and customer requirements, it is
determine that there is increase in number of health consciousness customer who prefer to eat
healthy food. For this, the company is coming up with sugar free and fresh bakery items which is
of good quality and taste as well. The company also focuses on providing diverse items &
customized services by considering overall health measures (Biga-Diambeidou, 2019). For
implementing all activities, for distribution, for advertising and marketing, there is recruitment of
fifteen staff members along with training is provided to them so that they can meet with targets
in an effective manner.
Target market
The target market of “Healthy Delights” is mainly adults, youth & fitness freak people
who prefer to consume healthy and tasty food along with the nutritional value. The factors that is
analyzed by entrepreneur for its target market is given below:

Behavioral factor: This market is basically categorized on factors such as buying power,
consumption pattern & lifestyle of customer as well. It is important for entrepreneur to emphasis
on putting unique ingredients so that it an retain its customer to switch to another substitutes or
competitors as well.
Psychographic factor: Herein, the market is divided on factors such as value, opinions,
personality of people as well. The new venture is working on psychographic factors that is it
emphasis on middle and high income group people who prefer quality and consume wide variety
of bakery products.
Competitor analysis
It is significant for entrepreneur to analyses the level of competition prevailing at
marketplace so that an effective strategy is developed in order to remain in competition and
attain competitive advantage at marketplace (Del Bosco, Chierici and Mazzucchelli, 2019). For
this, porter's five force model is applied by entrepreneur that involve five competitive forces that
is given below in relation to new venture”Healthy Delights”.
Bargaining power of buyers: It is determine that in UK, there are various bakery shops
who offer quality items but “Healthy Delights” has come up with new features that is sugar free
and fresh products. This signifies that buying power of buyers is low that help entrepreneur in
gaining higher profits.
Bargaining power of supplier: The venture is new in United Kingdom market so
suppliers have opportunity to charge high amount which states high bargaining power of
suppliers. It is essential for company to develop good relationship with suppliers so that thy can
they can deliver raw material on time period.
Threat of new entrant: It is determine that due to globalization, there are many entrants
who establish new venture in market and therefore threat of new entrant is moderate.
Threat of substitution: In context of providing sugar free bakery items, the is threat is
low for entrepreneur that directly leads to attainment of competitive edge for Healthy Delights. It
is important for entrepreneur to make use of effective promotional techniques so that it can
create awareness and increase their sales and profit level in an appropriate manner.