Report on Porttle: Creative Entrepreneurship Business Plan Analysis

This report presents a comprehensive analysis of the Porttle business plan, a creative entrepreneurship venture aimed at introducing a unique warming and cooling bottle to the UK market. The report begins with an executive summary highlighting the market need for a product that can maintain water temperature for extended periods, particularly for commuters, travelers, skiers, and mountaineers. It includes in-depth market research, encompassing both primary and secondary data collection, to assess the demand and competition in the market. Primary research involved surveying 100 individuals to gauge the need for such a product, while secondary research examined existing market trends, competitor analysis, and consumer behaviors. The report also applies relevant business models and theories, such as PESTLE and Porter's Five Forces analysis, to evaluate the external and competitive environment. Furthermore, the report outlines the company description, key success factors, marketing strategies, funding requests, and financial projections for the Porttle product. It concludes with future recommendations and a reflective statement on the learning experience gained from developing the business plan. The document is available on Desklib, a platform offering AI-powered study tools for students.

Creative
entrepreneurship
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EXECUTIVE SUMMARY
In the present scenario, entrepreneurs are required to be highly creative in order to make a
new business venture successful in marketplace. Further before introducing any new product or
service, businesses are required to carry out in depth market research in order to understand need
and demand of people. It has been analysed that the people in UK are not able to find a suitable
products which can help them to statist their need of carrying warm or cool water with
themselves. The existing products such as Thermal Flask and plastic bottle are not able to keep
the temperature stable for very long time period. Based on this analysis, a unique and creative
bottle with the name of Porttle will be introduced in market. This bottle will feature effective
warming and cooling technology that will be able to satisfy need of people at its best. The
marketing will be carried out on social media and with the help of advertisements. The target
market for this product will include skiers, mountaineers and travellers. During the initial stage
test marketing will be carried out before introducing the bottle in market. Some of the factors
which will help in making the bottle successful includes its technology and effective marketing.
It can be recommended that if the product become a success then it can be lunched to some other
potential markets also.
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TABLE OF CONTENTS
Introduction .....................................................................................................................................5
Main body .......................................................................................................................................5
ASSESS...........................................................................................................................................5
(1) Market Research ....................................................................................................................5
1.1 Int...........................................................................................................................................6
1.2 Primary research ...................................................................................................................7
1.3 Secondary research .............................................................................................................10
2 Models and Theories...............................................................................................................11
2.1 Pestle analysis .....................................................................................................................11
2.2 Porter five force analysis ....................................................................................................11
IMPROVE......................................................................................................................................12
Company description.................................................................................................................12
Key Success factors.......................................................................................................................14
Marketing and sales ..................................................................................................................14
Funding request .........................................................................................................................15
Financial projection...................................................................................................................16
future recommendation..................................................................................................................18
Reflective.......................................................................................................................................19
Conclusion.....................................................................................................................................20
References ....................................................................................................................................21
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Index of Tables
Table 1: Sales estimation and accessories sales...............................................................................9
Table 2: Break-even ........................................................................................................................9
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INTRODUCTION
This report demonstrates assessment of business plan which has been developed to
launch a new product in UK market. The product is a Bottle which will keep the water warm or
cool for long period of time. The first issues which has been observed is that people in UK are
not able to find out a particular product in market which can meet their needs of carrying hot or
cold water with themselves for long duration. The existing products which are available in
market such as thermal flask and packaged water bottle are not able to keep water on stable
temperature for more time. This makes it very difficult for people such as skiers, mountaineers
and travelers to satisfy their thirst of water. One of the major issues which have been identified in
this project is that there was no specific data which was present to determine the need and
demand of such kind of bottle in market. Approach such as primary and secondary data analysis
has been used to identify the market demand. Along with this, the report also reflects the areas
on which the business plan can be improved. At last a reflective statement has been provided in
which highlights how this business plan has helped in personal and professional development.
MAIN BODY
ASSESS
In order to produce this presentation, I have gone through in depth market analysis.
Further before presenting the business plan, information about the competitors and customers in
market was very important. One of the major obstacles which were faced during the
development of the presentation was that people in UK are not able to find out a particular
product which can meet the demand of carrying warm or cool water along with themselves.
Primary research has been carried out to get some specific need and reliable data for the bottle.
The sample size was 100 and research on more people across UK. After carrying out the primary
and secondary research it has been found that there is a great demand of bottle which can keep
water warm or cool for long time period.
(1) Market Research
Porttle
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1.1 Int
The number of people which spend more than two hours of travelling from one place to
another for doing work has increased around 72%. On the other side of this, the number of
commuters travellers has increased from 500000 to 8800000 in last 10 years (Millions of people
spend two or more hours commuting a day, 2015). Areas such as south east, south west and
Wales has witnessed biggest increase in long commutes. On the other hand, the number of
travellers in caravans in England has been increased to 28% since the year 2006. 20123 Gypsy
caravans where witnessed in the year 2015 which was 604 more than what it was in January
2014. On the other hand, in the year 2000/2001 there was total 921000 skiers in UK. Every year
there are 1.5 million British public which skies. The number of climbers is also increasing as
more than 360000 walkers climb the summit of snowdon every year. These all facts and figures
clearly explain the potential opportunities for growth and development.
Market analysis is termed as the process in which business carry out a market research to
identify its level of competition and strategies which has been adopted by market players (Scott,
2006). The new product, Porttle which is warming and cooling bottle will face some sort of
direct and indirect competition in the market. Porttle direct competition will be with Thermos
flask which is commonly used by people to carry warm or cool bottle with them. Further one of
the major advantage of using Thermos flask is that it keeps drink both hot and cold (Water Vital
Statistics: Industry Data, 2015). Other than this, there is no electricity required to keep the drink
cool or hot. On the other hand, there are some disadvantages of using Thermos flask. One of the
main among those is that it does not keep the temperature of the drink consistent. After some
time, the premature of cold drink starts increasing or hot drink starts declining. In addition to
this, Thermos flask is also not durable in long run as its vacuum stops function after few years.
The flask is also heavy to carry and can retain heat only up to 4 hours which means it is not
suitable for long journeys (Bottled Water in the United Kingdom, 2015).
On the other side of this, Porttle will be facing indirect competition form kettle, baby
bottle warmer and packaged drinks. After carrying out the market analysis, it can be stated that
there are adequate opportunities for growth and development in front of Porttle. Its lightweight
and attractive sporty design will give a tough competition to Thermos flask. In addition to this,
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Porttle will also give intense competition to all its indirect competitors with the help of its
features such as safety, low boiling time and cooling time.
1.2 Primary research
From the primary data which has been collected from 100 people it has been found that there is
huge demand of bottles which can store hot or cold drink and water for long period of time up to
8 hours. The information collected randomly form people which fall in the age group of 20-55.
The respondents belong to middle class and prefer saving their money. Further it can be
evaluated that these people are already using Thermos flask and other alternatives such as
packaged bottles to satisfy their need of water and other drinks during travelling or doing any
kind of sports activity. The respondents stated that they are not satisfied by the products which
are presently available in the market as the water or drink does not stay cold or warm for long
period of time. Therefore, it can be stated that there are enormous opportunities for the Porttle in
terms of growth and development.
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Thermal flask Packaged bottles Other than this
0
10
20
30
40
50
60
1. What are the products available in market to carry
water with you
Series1

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2. Do you find difficulty in caring warm or cool water
along with yourself
Yes
No
3. Present products available in the market to carry water
are able to satisfy your needs
Strongly agree
Agree
Neutral
Disagree
Strongly disagree

9
Yes No
0
10
20
30
40
50
60
70
80
90
100
Do you think that the market requires a bottle which can
keep water warm or cool for long duration
Series1
What features do you want in a bottle
Portable and lightweight
Sporty design
Effective cooling and
warming technology
All of the above

EVIDENCE: APPENDIX: Questionnaire and Result
1.3 Secondary research
As per the view of Parag and Roberts, (2009) products such as bottles are increasing day
by day to carry water or other drinks. Now a day’s people are not able to find out a bottle which
can meet their need and demand for carrying the water warm or cool for long time period.
Masood and KeshavaMurthy, (2005) has explained that there are various products such as
thermal flask and packed bottles available in the market but they are not able to keep the water or
drink warm or cool for long time period. Further people such as travellers, mountaineer or skiers
need to carry water with them. They do not have time to fill the water at regular intervals. They
requires a bottle which can in which at least for 10 hours water can remain on the same
temperature as it was filled. In packed bottles temperature of water starts increasing in one or
two hours. Further it also creates harm to environment because the material used to manufacture
bottles is plastic. However Wilk, (2006) argued that people can even pay £15 to £20 for a bottle
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6. What prices can you pay to buy a bottle which can keep
water warm or cool for long period
Below £15
Between £15 to £20
Above £20

which can meet and satisfy their needs. This means that the organizations have enormous
opportunities for growths if they can come up with such kind of bottle which can keep the
temperature of water same for long time period. According to Bartlett, (2005) people also want
that the bottle which they carry should have very lightweight. It became very difficult especially
for mountaineers and skiers to carry a heavy weight bottle. With the use of technology,
businesses can easily create such kind of products and earn higher profits as they won’t face any
kind of intense competition.
2 Models and Theories
2.1 Pestle analysis Political factors- Changing tax rates and changing acts of legislation will be the major
political factors that will affect the operations and activities of Porttle. Economic factors- The country is growing slowly with a good rate of 2.9% in the year
2014. The economic conditions in UK are also stable which means that there are
adequate opportunities for growth and development for Porttle. Social factors- It can be also stated that the taste and preference of people in market as a
direct impact on sales and profitability of business enterprise. The increase in number of
travellers means that there will be a great requirement of products such as Porttle. This
will help people to carry warm or cool drink or water along at the time of travelling.
 Technological factors- The brand will be also affected by technological advancement in
the country. High rate of technological up gradations will be very beneficial for products
such as Porttle. Further online platform will be used to promote and sell the product to
people in the market.
2.2 Porter five force analysis Supplier power- Porttle is a unique product and therefore, its supplier will be very less.
The cost of switching form one particular supplier to another will be very high. Buyer power- The power of buyer will be less as there are very less number of the
alternative available. People in market are not able to find a product which can help them
to carry warm or cool water or drink. Further the products available in market such as
Thermos flask and packaged bottle are two options in market. These products are not able
to meet the demand at its best.
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 Competitive rivalry- The competitive power will be also less as the two main competitors
of Porttle are Thermos flask and packaged bottle. Products in market are not equally
attractive which means there is a great opportunity for Porttle. Threat of substitute- Threat of substitute will be very low for Porttle as it won’t be easy
for other companies to make a substitute of the bottle. This will be one of the major
strengths of Porttle as its substitution won’t be that easy. Threat of new entry-There will be a high threat of new entry as the investment required to
enter this market is very low. Therefore, Porttle will be required to put lots of efforts in
order to make its people in market loyal. Along with this, the design and technology
which will be used in Porttle will be patent. This will act as a biggest barriers for other
companies to copy the design and technology of the bottle.
IMPROVE
Company description
The company will be selling warm, cool and boiling bottle by the name of Porttle.
Further it will be light weight and portable bottle which means that it will be very easy to carry
the Bootle. The company will be offering very attractive and sport design in its bottle. The
technology for warming and cooling will be used for the customers without electricity. The
accessories which will be required to purchase with Porttle are detachable filter tube, spare slat
filament, car cable and pad lock. The target customers will be long distance travellers, skiers,
campers and mountain climbers. Further it can be stated that with the help of Porttle, the
company will be able to satisfy the need of carrying water or other drink of the above stated
peoples. On the other hand, it can be stated that EP 2601869A1, US 3804076 A has been
patented for baby bottle warmers. US 5233914 A has been patent for coffee makers which are
using car battery power. Till date, there has been no combination of both the above stated
technology in terms of bottles. Thus, Porttle will be also having advantage of being the first
mover in the entire industry. The brand will be also required to patent its technology so that no
other business can copy this idea and technology. This will also results in creating barriers in
entry for new market players.
Organization and management
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