Entrepreneurship Report: Vegan Chocolate Bar Business Idea

This report presentation discusses the feasibility, potential market opportunities, marketing mix, and vision for a new business idea of Vegan Chocolate Bar. It also includes a PESTLE analysis and Porter's Five Forces model.

Enterprise and
Entrepreneurship
Name and student ID

Table of Contents
• INTRODUCTION
• MAIN BODY
• Motivation
• Feasibility Study
• Product
• Potential Market Opportunities
• Marketing Mix
• Porter's Five Forces
• Vision
• CONCLUSION
• REFERENCES

Introduction Entrepreneurship could be determined as meaningful
process of generating additional values towards business
society as well as business environment by combining
resources in an innovative and creative manner. This
report presentation will be comprised of essential and
insightful information regarding the new business idea
or approach to be introduced in the market i.e., Vegan
Chocolate Bar.

Motivation for choice of business
The primary and foremost rationale behind consideration of this particular business idea lies in
changing preference of people in society towards consumption of Vegan Food products.
In order to serve delicious and delightful food products to customers looking out for the same.

The process you went
through to generate this
business idea
• Brainstorming
• Internet Research
• Random Survey

Feasibility study
With the increasing preference of
customers towards consumption of Vegan product,
it results in a major business opportunity of
serving customers with Vegan food products. For
instance, the determined business idea of Vegan
Chocolate Bar is worth pursuing in order to
contribute additional values towards vegan society
by providing them with delicious taste in Vegan
Food products.
• STP Analysis
• Pricing Strategy
• Budget

Details of the
product/service to
be offered?
Vegan Chocolate Bar has been
considered as chosen product undertaken to be
introduced in the consumer market. For instance,
the determined product will be made up of Vegan
ingredients or sub-products in order to be served
to Vegan customer in society. In addition to that,
there will no use of any animal based ingredient or
any additional artificial preservatives in order to
promote health factor in society.
• Vegan Product
• Healthy and Nutritious
• Delicious Taste

Potential market opportunities
• Existing Trends
With the spread in awareness of Vegan diet in order to stay as well as contributing values towards Cruelty-Free environment,
people are observed to be tend towards consumption of Vegan Food Products in their routine diet. For instance, it has been
observed that more and more customers are being a part of Vegan society with a gradual proceeding approach.
• Gaps in the Market
Unavailability of sufficient amount of businesses engaged in serving Vegan food products to customers in society. For instance, it
has resulted in being a barrier towards consumption of Quality and Healthy Vegan Food Products.
• Solving a Problem
Establishment of businesses with innovative and creative ideas in order to meet customer needs and requirements in society by
providing them with variety of Vegan Food products.

PESTLE Analysis
Political Factors
• Political stability
• Sugar Taxes
Economic Factors
• Inflation
• Increasing Household income
Social Factors
• Personal preference
• Lack of awareness

PESTLE Analysis
Technological Factors
• Research & development
• Effective Marketing
Environmental Factors
• Species extinction
• Sustainability
Legal Factors
• Regulatory approvals
• Minimum Wage

USP (Unique
Selling
Proposition)
The strong and strengthened business idea of Vegan
Delight Chocolate bar will contribute additional values
towards success and growth of determined business. For
instance, delicious flavour and Vegan ingredients will
further facilitate the product to stand out in market.

Potential market
opportunities
Marketing Mix
• Product: The determined product will be a Vegan Chocolate Bar made
up of vegan ingredients in order to be served to customers looking out
for the same. For instance, it will be sold out in the market in the name
of Vegan Delight Chocolate Bar.
• Price: Penetration pricing will be used in order to set up price of the
product which will further facilitate in attracting maximum potential
customers towards the product.
• Promotion: Social media platforms and search engine optimisation
will taken into account in order to promote and advertise the product
among customers in market. For instance, with the increasing use of
these platforms, it will contribute additional values towards increasing
overall sales as well as awareness of the determined product.
• Place: In order to ensure reach of customers towards the product, E-
commerce platforms and local general retail stores will play a
magnificent role in selling the products in consumer market.

Attractiveness of the
industry
Porter’s Five Forces
Model
• Threat of New Entrants: High
• Bargaining Power of Buyers: Low
• Bargaining Power of Suppliers: Low
• Threat of Substitutes: Low
• Competitive Rivalry: Moderate

Vision for your business
THE LONG-TERM VISION OF RESPECTIVE COMPANY I.E., VEGAN DELIGHT LIES IN A
VIEW OF CRUELTY-FREE WORLD FOR ANIMALS AND BALANCED VEGAN HEALTH AND
NUTRITION AMONG PEOPLE IN SOCIETY.

CONCLUSION
From the mentioned report presentation, it could be concluded that there is a huge business opportunity to cater Vegan food products to
customers in order to contribute additional values towards society as well as business environment. For instance, with the brainstorming
and internet research, Vegan Delight Chocolate Bar is viable and the business idea could be pursued further. Moreover, Vegan product,
Health and nutrition, and delicious taste are major characteristics of the determined product. Penetration pricing strategy will be taken
into account in order to increase sales of determined product in the initial phase. Furthermore, outcomes of applied frameworks
contributes clarity of business environment in context of determined product.

Reference list
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• Dana, L.P. ed., 2021. World encyclopedia of entrepreneurship. Edward Elgar Publishing.
• Kuratko, D.F. and Morris, M.H., 2018. Examining the future trajectory of entrepreneurship. Journal of Small Business Management, 56(1), pp.11-23.
• Kyrö, P., 2018. The conceptual contribution of education to research on entrepreneurship education. In A research agenda for entrepreneurship
education. Edward Elgar Publishing.
• Brush, C., Edelman, L.F., Manolova, T. and Welter, F., 2019. A gendered look at entrepreneurship ecosystems. Small Business Economics, 53(2),
pp.393-408.
• Lipset, S.M., 2018. Values, education, and entrepreneurship. In Promise of development (pp. 39-75). Routledge.
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Research Journal, 11(1).
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education. Edward Elgar Publishing.
• Neck, H.M., Neck, C.P. and Murray, E.L., 2019. Entrepreneurship: the practice and mindset. Sage Publications.
• Tien, N.H., Anh, D.B.H., Ngoc, N.M. and Do Thi, Y.N., 2019. Sustainable social entrepreneurship in Vietnam. International Journal of
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