Mixture World: Business Essentials Report on Coffee Shop Venture

This report details the business plan for Mixture World, a new coffee shop established as a partnership. It outlines the business idea, emphasizing its unique selling proposition of combining a coffee shop with a library and gaming zone, targeting students and young people. The report includes a competitive analysis, highlighting key competitors and their unique selling points. It defines the company's four major objectives: providing quality services, offering quality products at reasonable rates, ensuring customer satisfaction, and innovating products and environment. A PESTEL analysis is conducted to evaluate the external market factors, and a detailed event launch plan is presented, including budget preparation, targeting a weekend event in December with celebrity guests and health ministers. The report also discusses the involvement of marketing concepts in the business venture, aiming to create a strong brand image and achieve business objectives. A comprehensive budget is provided, detailing all event-related expenditures.

Business Essentials

TABLE OF CONTENTS
INTRODUCTION..............................................................................................................1
TASK 1.............................................................................................................................1
A New business idea and its type............................................................................1
B Objectives related with business..........................................................................2
TASK 2.............................................................................................................................3
Environment analysis for preparing strategies.........................................................3
TASK 3.............................................................................................................................5
A Launching of event...............................................................................................5
B Budget preparation for event................................................................................6
TASK 4.............................................................................................................................7
Involvement of marketing concepts in business venture..........................................7
CONCLUSION................................................................................................................. 8
REFERENCES.................................................................................................................9

INTRODUCTION
In a business, there are several major components that are helpful in order to
make things correct and execute all operations in an appropriate manner. Business
requires several factors which are helpful in order to make things correct and execute
each and every operation effectively (Omachonu and Einspruch, 2010). This project is
based on Mixture World which is one of a newly established coffee shops which
incorporated business in a partnership ownership. This assignment includes a new
business idea with its major objectives on which whole association will lead to work.
Along with this, it will also incorporate environment analysis which facilitate them for
making strategies. For presenting a newly establish business to target customers,
management have to launch an event which enables them in reaching to wide number
of users.
TASK 1
A. New business idea and its type
A new business idea is of coffee shop along with that management also provide
books so that user can spent some time over there by reading them. This type of
business is able to generate high profit by delivering quality based services at
appropriate price level. This is a private partnership sector business which was started
by two friends by contributing half of their money in order to generate profit. Mixture
World established at the centre of London at Park Street London in which company also
provides a facility of home delivery.
Mixture World will lead to accomplish all needs and demands of their customers
by targeting and selecting an appropriate group of users. Majorly they are targeting
students and young people and provide library facility as well as gaming zone where
they can relax for more than hours (Leach, 2011). This consider as an innovative way
through which they lead to maximise user and enhance their satisfaction.
Along with this, it get determine for Mixture World, that there competition in this
sector is high as in every street there are more than two to three coffee shops are over
there. Hence, major competitors of Mixture World are as follows:
Competitors Unique Selling Proposition
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Colonna & Small Interiors are appropriate and attractive as
well as targeting group is especially high
income level customers.
Zizzy Mango muffin and Chocolate Brownie are
the two best products out of which
chocolate brownie offering is sugar free.
B. Objectives related with business
Mixture World is a coffee shop in which they are providing better and effective
facilities to their customers. Their prices are low as compared to their competitors and
just to maximise customer satisfaction level. They have a target for maximise their
number of customers with 10% for next year but initially they have to adopt and frame
appropriate strategies to get sustain into wide keen competitive market. The four major
objectives of Mixture World are as follow: To provide quality services: Mixture World have to select only such number of
employees at workplace whom are capable in order to deal with customers
properly (Laudon and Laudon, 2011). It is essential for new business to provide
quality services as first impression is an only chance to increase number of
customers. To provide quality goods at reasonable rates: Another objective for a company is
to provide quality based products at reasonable prices. It is essential for every
new business to enter into a market and for that they need to use penetration
pricing strategy which support them to gain user faith and trust. To retain customer satisfaction: New business only become successful by
retaining their customer satisfaction. A satisfied user is one who will lead to make
its visit in an association again and again by repeat consumption. Thus, Mixture
World can retain their customers when they are going to satisfied them.
 To provide innovative products and environment: Mixture World can sustain at
market for long term by introducing some innovative products at market world.
For this relation, they determine a concept in which they provide library with
coffee products. Along with this, they also present a new taste of coffee in which
they support in innovate a product whose name is Strawberry ginger coffee.
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This business is suitable in nature as many food outlets are already establish
whom started as a small association and later become the leading food outlets in the
world (Hair, 2015). Some best example of these kind of business whom are working in
partnership are (10 super successful co-founders and why their partnerships worked,
2017):
 McDonald’s
 Ben & Jerry
Thus, partnership is a major business section which lead to present this kind of
association properly as it require more and more fund to get invested.
TASK 2
Environment analysis for preparing strategies
(Sources: What is PESTEL analysis, 2017)
Mixture World have to analyse the market world in which they will going to
operate business. For this consent, PESTEL analysis is a helpful measure through
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Illustration 1: What is PESTEL analysis? 2017

which business going to frame their strategies according to that. Thus, external market
factors have to determine managers of a company by including its impact and
significance:
Basis Impact Significance
Political: Government made
policies for a country which
business associations have
to follow
Mixture World partners
have good relation with
political leaders of a country
which made a positive
impact on their working
This factor support business
in order to grow and they
also become able to deal
with changes properly and
in minimum time frame.
Legal: All regulations get
framed by court and other
institutes of a country
Mixture World need to
follow by norms properly
like health and safety act,
equality act properly which
support in making positive
impact on users (Guffey
and Loewy, 2012).
It is essential to take care
about all rules and
regulations properly so that
better results and outcomes
could be gain.
Social: Society play an
effective role in order to
make things correct.
Society impacted positive
and negative towards
business but for making
their response positive,
Mixture World have to fulfil
their obligations effectively.
Significance of performing
and taking care of society
will lead to support them in
the future context so that
better results could be
attained and objectives will
get fulfilled.
Environmental: Business
environment is dynamic in
nature which get changed
with a course of time.
Business environment
made positive impact on
business as UK
environment provide keen
competitive world as well as
they have sufficient
resources for producing
It is important for business
managers to understand the
external and internal
environment properly for
managing tasks and
working.
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quality products.
Technological: Technology
plays an important role in
order to produce high
quality and effective
products.
Rapid change in technology
will lead to bring negative
outcome on business as
well as positive outcome get
derive through combining
work with technology.
Technology is important for
Mixture World through
which they are going to
produce high quality
products and services.
Economical: Every business
needs to understand the
economic activities of
business properly so that
more suitable outcomes will
be attained.
Inflation and depression are
two major impacts on
business (Griffin and Ebert,
2010). Thus, it is essential
for them to combine
association deals with these
economic crisis properly.
Mixture World needs to
choose economical pricing
strategy in which it is used
to make positive
significance.
TASK 3
A. Launching of event
Mixture World wants to open up a coffee shop in which they are providing high
quality facilities to their ultimate users. For making their business expand and come in
front of users, they need to launch an event which require more and more fund to get
invested. This is a social gathering event in which various groups and famous
personalities are invited. There are several food samples will also get deliver to their
ultimate users so that they become able to determine taste of products which provided
by Mixture World.
This event get incorporated on weekend of December because it is a time of
Holiday and more and more people spent leisure time over on beaches (Ebert and et.
al., 2014). Many families spent their time in a form of picnic so that management will
lead to reach wide range of customers at one time.
 Most of the money will get spent on food and entertainment as famous
Hollywood celebrity lead to get invited. This money expenditure lead to support in
creating a different image of an organisation so that business objectives get
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accomplish properly. Moreover, this expenditure on inviting famous celebrity
support in creating a good image in front of others and competitive advantage
would be gain.
 Mixture World targeting market is youth and young generation people and for
this, it is essential to invite an idol personality which made a positive impact on
many customers of a business (Cobanoglu and et. al., 2011). This section will
support in achieving all business objectives properly so that maximum output
could be gain.
There are more than 100 people are invited over in an event which support
business to create an image and their superiority will get extended to large market area.
By inviting Ed Sheran large number of people come over in event. This is costly but this
one time investment support in enhancing business world and its opportunities. Along
with this, Health Minister will also get invited whom will going to provide good quality
certificate for products. This will enables in gaining customers trust and faith so that
better and appropriate results would be carried down.
B. Budget preparation for event
Mixture World have to prepare a budget in which all expenditure which are
related with event get included. It is essential for managers to prepare a list of things as
which will going to be included for this project. Thus, by preparing a budget, partners
lead to allocate money so that manager arrange an organiser which further execute
operations properly. Below is a budget for Mixture World with all items as well as its
expenditure:
Particulars
Event
launch
Amount 121000
Elements for
event Cost
Venue 1000
Catering 5500
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Advertising 200
Decoration 150
Transportation 200
Anchor 300
Guest 50000
Table 10000
Chairs 5000
Equipment 15000
Corporate
social
responsibility 10000
Total 97200
Net position 23800
Budget available and the saving from event are as follow:
Budget
available
Expenditure 97200
Remaining 23800
TASK 4
Involvement of marketing concepts in business venture Marketing Objective: Mixture World prepare their marketing objectives for a
business by considering SMART acronym for their business. In order to work this
factor, business prepare a specific target in which they want to deliver quality
services through which business profit need to get maximise by 10% by
considering customer base with 5%. Thus, managers prepare this target which
measurable in nature and get lead to get accomplish in next year (Bovée and
Thill, 2013). This is timid based in nature because owners wants to attain such
target within one year.
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 Target market: Mixture World is basically targeting young generation for their
products and services. Thus, by providing high standard amenities will lead to
support them in maximise their profit margin as well as association become able
to attain all objectives properly.
 Marketing strategies for each target market or chosen market: For gaining
maximum customer share, business targeting students or young people. For this,
they create a library as well as gaming zone. This strategy will lead to support
them in order to make things correct so that more and more revenue get
generated.
CONCLUSION
It get concluded from the project that every business require several essential
and important factors which enables them in making a newly business successful. Thus,
every business requires several objectives and targets which are related with business
association. On the basis of these, management incorporate their strategies by using
external environment analysis. This environment analysis will lead to link up with
business objectives so that effective action plan could be frame. When business done
with all such thing and require to incorporate an event, they used to launch a function
through which company come into existence of customers. For that, they need some
amount of fund which support them in order to facilitate such event properly.
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REFERENCES
Books and Journals
Anderson, D. R., and et. al., 2014. Essentials of statistics for business and economics.
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Blumberg, B. F., Cooper, D. R. and Schindler, P. S., 2014. Business research methods.
McGraw-hill education.
Bovée, C. L. and Thill, J. V., 2013. Business communication essentials. Pearson Higher
Ed.
Cobanoglu, C., and et. al., 2011. The impact of technology amenities on hotel guest
overall satisfaction. Journal of Quality Assurance in Hospitality & Tourism. 12(4).
pp.272-288.
Ebert, R. J., and et. al., 2014. Business essentials. Pearson Education Canada.
Griffin, R. J. and Ebert, R. W., 2010. Business essentials.
Guffey, M. E. and Loewy, D., 2012. Essentials of business communication. Cengage
Learning.
Hair, J. F., 2015. Essentials of business research methods. ME Sharpe.
Laudon, K. C. and Laudon, J. P., 2011. Essentials of management information systems.
Upper Saddle River: Pearson.
Leach, P., 2011. Family businesses: The essentials. Profile Books.
Omachonu, V. K. and Einspruch, N. G., 2010. Innovation in healthcare delivery
systems: a conceptual framework. The Innovation Journal: The Public Sector
Innovation Journal. 15(1). pp.1-20.
Online
10 super successful co-founders and why their partnerships worked. 2017. [Online].
Available through: <https://www.businessinsider.in/10-super-successful-co-
founders-and-why-their-partnerships-worked/Jerry-Yang-and-David-Filo/
slideshow/50676903.cmsm>.
What is PESTEL analysis? 2017. [Online]. Available through:
<https://www.howandwhat.net/pestel-analysis-of-asda/>.
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