Business Opportunity Project: Mainstreet Trading Company in the UK

This project presents a business opportunity analysis for Mainstreet Trading Company, a UK-based retail firm. It introduces the concept of business opportunities and highlights the use of mega trends, particularly artificial intelligence, to enhance customer service and operational efficiency through the introduction of robots. The report covers the concept of business opportunities, mega trends, and creative ways for recognizing opportunities. It also includes a Porter's Five Forces analysis to assess the competitive environment, focusing on the threats and opportunities in the retail sector. The project justifies the proposal for a new trend by highlighting the strengths, weaknesses, opportunities, and threats associated with the introduction of AI and new product development, providing a comprehensive overview of the company's potential for growth and innovation. The project provides detailed analysis of the competitive environment, potential threats, and strategies for market entry and product promotion.

Business Opportunity Project

Executive Summary
Business Opportunity is the concept through which company easily provides different
ideas to their customers so that it will help to increase their financial performance. In the same
way, report focus is to provide an opportunity for the firm so that it will attract wide range of
customers towards them. Report is all about innovation and introduce new concept for the
Mainstreet Trading company which is retail firm and situation in UK. The report uses mega trend
such as artificial intelligence in its working place in order to introduce to robots so that it will
help to make its efficiency level higher. Further, report will cover creative opportunities for a
business by using models.

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
Concept of business opportunity.................................................................................................1
Mega Trend used by Mainstreet Trading Company...................................................................2
Creative as well as innovative ways for recognizing opportunities ...........................................5
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
To stay ahead in the competitive world, it is quite necessary for every business to use
mega trend in order to sustain the image in market. In the same way, the chosen small firm for
the report is Mainstreet Trading Company in UK which is small retail firm of Books, Cafe,
company also focusing on quality products, customer experience and staff knowledge.he quoted
firm is situated in UK and mainly deals in retail industry. In last 10 years, the company makes its
products and services in such an innovative way that helps to attract wide range of customers. It
provides cafeteria and sell books in such a leas price, further, it provides a comfortable zone to
all youngsters so that they enjoy at place. Report will describe the new product i.e. Robots by
analysing the mega trend in order to improve the performance of company. Further, report will
identify the viability of an opportunity and also justify a proposal for a new trend by highlighting
the trends as well.
Concept of business opportunity
As per the view of Frank, Dalenogare and Ayala, (2019) business opportunity is a
packaged business investment which helps a buyer to start a business. Therefore, by introducing
new business opportunity, company will easily maintain the relationship between seller and
buyer for long time. It is also realized that by providing different business opportunities will also
help company to attract wide range of customers towards it. In the same way, Mainstreet Trading
Company also wants to introduce new products as per analysing the mega trend. These mega
trend are mainly focus on advance technology and in thee age of digital transformation, these
trends are playing an important role. Some mega trends are as follows:
Artificial Intelligence: It is the technique of human intelligence process by a machine,
the process also includes learning, intelligent and self abstraction. Therefore, through this mega
trend, the company will increase its efficiency and saves time and extra expenses as well. Even it
is also analysed that AI is low error rate as compared to humans only if they are coded accurately
otherwise it will be more dangerous (New mega technology trend, 2019). As per the facts, it is
realized that most of the large scale company uses this artificial intelligence into its working
place to make the process simpler and easy, as it saves time and money for those large firms and
also improve the performance as well as productivity too.
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Autonomous Devices: This is some devices which make their own decisions and also
have the ability to learn as well. It is also analysed that by up coming years, there are more than
billions devices are connected to the Internet. In addition to this, this trend also goes further
using rigid programming models and it is so because, AI Is now being implemented in order to
develop advance behaviour, by interacting in more natural way within environment (Porter and
Kramer, 2019).
Enhance Edge Computing:It is directly related to Internet of Things. Such that by
implementing the complementary models with different solution in cloud will be more beneficial
for the business to solve many problems. It also reduces traffic and also facilitating task which
can be performed within workplace.
Digital Twins: It is considered one of the most virtual replica for a real world system and
its main purpose is to monitoring their behaviour. It also helps to improve the ability to compile
and visualize the right data for the company and also make necessary improvement by
effectively meet the business objectives (Mrkajic, Murtinu and Scalera, 2019). In addition to this,
it is also analysed that using the technology into the working area will help to optimize the asset
performance and improve the outcome as well as productivity.
Augment analytics: It is another step for big data and using machine learning that will
transform the development, sharing and consumption of data analysis. Therefore, it is the
software that can handle the large data sets and by using this mega trend, company will enhance
the analytic knowledge and interact with data that improve the current performance of the
company.
Strength :
 Innovative business idea.
 Good marketing strategy.
 Well known brand
 An organization good quality of
products at low price.
 Business entity has team of highly
skilled and talented workforce.
Weakness:
An enterprise still relies on the out dated
technology.
Mainstreet Trading Company is highly effected
by changes in social and economic factor.
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Opportunity :
To expand business.
To enter into new market.
To launch more innovative products.
Threats :
Increase in threat of competition.
Changes in the economic factor has lead to the
decline in profitability of firm.
Mega Trend used by Mainstreet Trading Company
Among all, Mainstreet Trading Company uses Artificial Intelligence in order to make its
customer services more enhanced and unique. In this, the company also introduce robots because
it helps to reduce risk and also increases the chance reaching accuracy by a greater degree of
exactness. Not only this, if quoted firm will use the artificial intelligence then it reduces the cost
of training and operation and helps to raise working efficiency by eliminating the human errors
to accomplish accurate results (Nuscheler, Engelen and Zahra, 2019). Therefore, it will be
beneficial for the firm to use this advance technology who help to minimize the needs of human
resources and update its system that helps to attract wide range of customers.
Apart from this, it has been also analysed that in this competitive era, using some
advance technology will help a business to sustain its brand image and also attract large
customers towards it. In the same way, if Mainstreet Trading company will introduce new
product using artificial intelligence will helps to make the company's daily application up to date
and also minimize the risk of errors. But on the other side , it has been critically evaluated that it
may cost high and the increasing number of machine also leads to unemployment and many job
security issues as well. As it is analysed that machine can work for a whole day but human being
are not as they needs break in between (Flyverbom, Deibert and Matten, 2019). Apart from this,
though by introducing robots into workplace will help to make the company's working
performance high, but they can only do the work that they are programmed to do. Even they
cannot think creative as a human being do.
Therefore, from the above it has been analysed that by using advance technology, the
company will easily its current performance and even customers also like some new and unique
concept. Not only this, as Mainstreet Trading Company also focus on improve quality products
and better customer experience, that is why now the shop has gained a wonderful and loyal
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customer base and of it uses advance technique into its working place, then it will be more
beneficial for its customers to enjoy new service in the quoted firm. (Aydalot and Keeble, 2018)
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Porters five force analysis :
It is the strategical technique which will be utilized by marketing manager in Main street
Trading Company for analysing the competitive environment of an industry. Porters five force
analysis technique will also assist marketing manager in analysing the effectiveness of business
environment in which they are operating business.
Threat of new entrant: It is low. The threat of entry of new organization in retail industry is
low, as particular sector requires huge capital investment and investing huge amount of funds is
not possible for the small firms, but in context of Main street Trading Company can easily enter
into new market by launching new product that is robot. At the initial stage of launch of product
in the new market, the company is required to keep the price of the product low, as it is the
strategy which will assist them in establishing the good position in the market, Low pricing
strategy at initial launch of product will also provide firm an ease in attracting customers (Liu,
and Atuahene-Gima, 2018.). In addition to this, Main street Trading Company will need to
establish high quality standards, as this tactic will help business entity in creating the hurdles in
relation to the entry of new firm in industry. In context of retail sector, as sector is highly
profitable it might attract more number of companies. New firm can enter into an industry by
launching new products at low price. It is very much crucial for an organization to provide high
quality goods to customers , as it will help an enterprise in maintaining its position in industry.
Threat of substitute products: In context of retail sector, The threat of the substitute product is
too high. As there are many companies those who is financially strong and have valuable
resources by utilizing which firms can easily develop substitute products. The competitors can
introduce substitute products for influencing the market. In context of Main street Trading
Company, competitors by launching the substitute goods in the market, might force an
organization to reduce the price of goods which can further have adverse effect on the
profitability of an enterprise. The Main street Trading Company for reducing such type of threat
will be required to concentrate on providing the high value proposition as well as good quality of
products to its customers. Business entity in order to provide the quality as well as timely
services to customers will implement Artificial intelligence system at workplace. In addition to
this, Main street Trading Company can provide additional services to customers, as it is the
technique which will help them in attracting more number of customers.
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Rivalry among existing firm : In relation to Main street Trading Company, the business
environment in which an organization is operating is highly competitive. There are many of the
big companies which has already cover wide market share and those organizations has been
successful in gaining the loyalty of customers, In context of Main street Trading Company, due
to stuff competition in the market, business entity might have to face issues in launch of its new
product that is Robot in the market. The competitors by reducing the price of the products might
force Main street Trading Company to decrease their profit margin. Implementation of such
strategies by competitors have significant influence on profitability of organization.
Marketing manager in an organization is required to conduct the through analysis of the
market before launching the new product in the market. As this tactic will assist them in
identifying the innovative way for introducing new product. In other words, innovative
marketing is the strategy which can be adopted by marketing manager in Main street Trading
Company for promoting the product to be launched in the market. It is the strategy which will
help company in attracting the customers (Luo and Bu, 2018). In addition to this, word of mouth
is other effective marketing strategy which can be implemented by Main street Trading
Company for advertising the new product to be launched in the market. As word of mouth is the
marketing strategy which will assist an enterprise in gaining the customers' loyalty that can be
further beneficial in terms of launch of new good.
Bargaining power of suppliers : The bargaining power of suppliers is low in context of Main
street Trading Company. As an enterprise has good brand image in the market and there are
number of suppliers who have willingness to sell the products of such as reputable organization.
In context of Main street Trading Company. An enterprise has power to force suppliers for
reducing the price of raw material.
Bargaining power of buyers : It is high. As there are many companies in retail industry which
is providing the same goods to customers at low price. In relation to Main street Trading
Company, buyer might force firm to reduce the price of their products. Business entity to reduce
such type of threat can provide additional features in products to customers. As this strategy will
assist an organization in increasing sales as well as profitability. The switching costs is low,
therefore customer can easily switch to other brand. It is very much important for company to
facilitate continuous communication with clients as it will have positive influence on customers.
It is the strategy which will also help an organization in gaining customer loyalty.
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S TP
Segmentation : It is basically an activity of dividing wide market into small segments. In
relation to the Main street Trading Company, an organization will use demographic
segmentation strategy, according to which firm will divide customer group on the basis of
gender, age etc.
Targeting : It is activity which includes selecting the specific customer segment for selling
products or services. Main street Trading Company will target children as well as youngster for
selling the newly launched product that is Robert. As it will be easy for an enterprise to target
such people. An enterprise will organize marketing campaign and would use social media for
reaching to the targeted customer group (Schellenberg, Harker and Jafari, 2018).
Positioning : It can be defined as procedure of establishing the image of product in the mind of
the customers. The Main street Trading Company, will keep the price of the product low at the
initial stage of launch, as it will help firm is positively influencing people to buy specific good.
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Illustration 1: Porters Five force
model
(Source: Porters Five force
model, 2019)

Creative as well as innovative ways for recognising opportunities
In context of Main street Trading Company, an organization can employ diverse
workforce, as this will help an organization in bringing the new business ideas that can be
helpful in context of fostering business growth. In addition to this, management in an
organization is required to provide with the open communication channel to employees, and they
should also promote the team work which is very much important in order to get ideas and in
terms of exploring new business opportunities (Sternquist and Goldsmith, 2018). Marketing
research can also be conducted by an enterprise for exploring business opportunities.
CONCLUSION
From the above report it has been concluded that through innovation companies can
explore as well as capture various business opportunities. The other fact which has been
discovered from the report is that emerges of the new trends has significant influences on the
business decisions, plans and strategies of firms. It has also been concluded from the report that
by adopting the innovation strategy an enterprise can reduce the different threats which might
arise due to changes in external environmental factors. The other fact which has been concluded
is that by employing the diverse workforce an organization can bring in the innovative ideas
which can be helpful in expansion of business.
An enterprise has been provided with suggestion to implement the artificial intelligence
at their workplace as it will assist them in improving the quality of customer service.
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REFERENCES
Books and Journals
Aydalot, P. and Keeble, D., 2018. High technology industry and innovative environments: the
European experience. Routledge.
Flyverbom, M., Deibert, R. and Matten, D., 2019. The Governance of Digital Technology, Big
Data, and the Internet: New Roles and Responsibilities for Business. Business &
Society.58(1). pp.3-19.
Frank, A. G., Dalenogare, L. S. and Ayala, N. F., 2019. Industry 4.0 technologies:
Implementation patterns in manufacturing companies. International Journal of
Production Economics.210. pp.15-26.
Mrkajic, B., Murtinu, S. and Scalera, V. G., 2019. Is green the new gold? Venture capital and
green entrepreneurship. Small Business Economics.52(4). pp.929-950.
Nuscheler, D., Engelen, A. and Zahra, S. A., 2019. The role of top management teams in
transforming technology-based new ventures' product introductions into growth. Journal
of Business Venturing.34(1). pp.122-140.
Porter, M. E. and Kramer, M. R., 2019. Creating shared value. In Managing sustainable
business (pp. 323-346). Springer, Dordrecht.
Liu, W. and Atuahene-Gima, K., 2018. Enhancing product innovation performance in a
dysfunctional competitive environment: The roles of competitive strategies and market-
based assets. Industrial Marketing Management, 73, pp.7-20.
Luo, Y. and Bu, J., 2018. Contextualizing international strategy by emerging market firms: A
composition-based approach. Journal of World Business, 53(3), pp.337-355.
Schellenberg, M., Harker, M.J. and Jafari, A., 2018. International market entry mode–a
systematic literature review. Journal of Strategic Marketing, 26(7), pp.601-627
Sternquist, B. and Goldsmith, E.B., 2018. International retailing. Bloomsbury Publishing USA.
Online
New mega technology trend. 2019. [Online]. Available through:
<https://www.bbva.com/en/nine-technology-trends-in-2019/>.
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Porters Five force model.2019. [Online]. Available through: <https://medium.com/product-
gyaan/porters-five-forces-analysis-868945aa5846>.
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