Business Plan: Grovers Cars Electric Vehicle Market in the UK

This report presents a comprehensive business plan for Grovers Cars, focusing on the launch of electric vehicles in the United Kingdom. It begins with an overview of the proposed business idea, emphasizing the company's response to global warming and the growing demand for eco-friendly products. The report then conducts a thorough PEST analysis, evaluating the political, environmental, social, and technological factors influencing the UK market. It discusses the competitive landscape, highlighting Grovers Cars' competitive advantages, such as extended battery life and eco-friendly features. Furthermore, the report recommends targeting the elite class, considering their high disposable income and environmental consciousness. The conclusion summarizes the key findings and emphasizes the importance of market analysis and strategic planning for success. References are also included.

Starting a
Business and
Fundamentals of
Marketing

Table of Contents
INTRODUCTION...........................................................................................................................1
Main Body.......................................................................................................................................1
Overview of the proposed business idea.....................................................................................1
Evaluation of PEST (Political, environmental, social and technological factors)......................2
Discussion of competition and what the competitive advantages is. .........................................4
Recommendation for the proposed target market.......................................................................4
CONCLUSION................................................................................................................................4
REFERENCES................................................................................................................................1
.........................................................................................................................................................1

INTRODUCTION
Business plan is stated as a written document in which all the details of the innovative
product and services is mentioned like, target customers, aims and objectives, budget, resources
used, technology and so on (Abukou, 2018). In order to make the business plan successful
effective marketing tool is needed in the global market place. Grovers Cars is undertaken to
complete the project. Firm is coming up with the business of electric cars in United Kingdom.
This assignment covers business plan in which evaluation of external environment is done. How
competitive advantages can be gained is studied. Additionally,suggestion for proposed target
market is examined accordingly.
Main Body
Overview of the proposed business idea
Grovers Car is opening it's business of electric car in United Kingdom. Due to raising
global warming firm is coming up with electric car. The team of this organization is working day
and night to meet the emerging needs of the customers. Management is conducting research and
development activities in order to come up with innovation in car. Firm is serving it's service
across the boundaries of the nation. However, Grovers Cars is coming up with electric cars in
United Kingdom. As the global warming is raising day by day and environment is getting
depleted at a tremendous scale. The management of the company is coming with electric cars so
that harmful gases emission can be reduced to a large extent. Firm is expanding the business of
electric car in United Kingdom because by scanning the market researcher identified that
government is looking for eco-friendly products in their nation.
Electric cars discovered by Grovers Cars will be able to capture huge market ratio of
United Kingdom because they are seeking for eco-friendly products and services in their nation.
Grovers Cars electric cars are environmental friendly because the batteries get charged with
electricity as well as with sun rays. This advanced features will help the Grovers Cars electric
cars to capture huge market ratio. This car is usable throughout the year as it is operating by
electricity and sun-rays both(Akramovich and Muratovna, 2019) . This is completely ozone
friendly as no harmful gases is emitted in the environment. Along with this electric car once
charged can run for 4 days providing the mileage of 5 Kmpl in the city and and on high way it
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provide 7 kmpl. This type of advanced characteristics in electric car of Grovers Cars will help
targeted customers to run the car in winters and in rainy sessions .
Grovers Cars is targeting elite class people for electric cars because firm is serving high
quality and technology in their car. Advance features in the car makes it more expensive as
compare to other electric cars designed by competitors. High class people can afford this
innovative car in United Kingdom because the disposable income of the public is high. The
customers of the this nation will be able to purchase it because they are financially stable in
nature.
Evaluation of PEST (Political, environmental, social and technological factors)
In the global market external factors are, political, environmental, social and
technological factor which need to be addressed by Grovers Cars cars in order to make their
electric cars successful in the United Kingdom market. By evaluating the PEST top level
management is able to grow their new product and services successfully without any kind of
government interference. Additionally, PESET evaluation render in-depth understanding
regarding business, methods to exploit opportunities, alertness to threat and involves cost
effectiveness (O’Brien, 2018). Grovers Cars car conduct PEST evaluation in order to better
understand the political, environmental, social and technological factor of United Kingdom and
accordingly design the marketing strategies to raise the sales ratio of the electric cars. By this the
chances of failure is reduces to a large extent as the factors are measured properly before
launching the product in that particular nation. The brief explanation of political, environmental,
social and technological factors are done below :
Political factor: In order to flourish the business in the open market place it is essential
to deeply understand political conditions of the nation. Some of the political factors are, tax
policy, foreign policy, government policy, labour law, environmental law, trade restrictions and
so on. Grovers Cars Cars research team is deeply studying the political factor of United Kingdom
in order to make their business of electric car successful in the market. Organization adopts all
the norms and policies which are necessary to expand the business in United Kingdom. By this
without government interference business can be explore in the market easily. As well as set
goals and objectives can be attained smoothly. United Kingdom is financially stable in nature as
well as disposable income of the people are good so they can easily purchase the electric car
designed by Grovers Cars. The government is also supporting eco-friendly products due to
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raising global warming. So, it will be worth to expand the business of electric cars in United
Kingdom market. By this emerging needs of the customers can be fulfilled and huge revenue can
be gathered. As well as large market share in the segment of car can be attained (Barnes, 2019).
Environmental factor: The surrounding is depleting day by day harmful gases are
emitted which are polluting the environment tremendously. Climate change, population,
depletion of soil and water, natural vegetation and so on are examples of environmental factors.
As the number of usage of cars are raising Grovers Cars came up with the business of electric
cars in United Kingdom market. By this surrounding can be saved from depletion and customers
can use car accordingly (.Nilasari, 2019). As Grovers Car is ozone friendly the demand for them
will be raising day by day and needs of the customers are full filled accordingly. This innovative
car will directly aid organization to service and sustain in the international market.
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Illustration 1: PEST Factors
Sources: PEST factors, 2019
Social factor: It is very essential to follow social factors in order to raise goodwill in the
eyes of the customers (PEST factors, 2019). Cultural taboos, customer service, demographic,
lifestyle, values, traditions, norms, trends and so on are considered in social factor. Grovers Cars
has designed the electric cars for United Kingdom market by keeping in view the traditions,
values, demographic etc. factors so that social needs are meet accordingly. Customers are more
concern regarding the environment to they prefer those products which are eco-friendly and does
not deplete the surroundings. It will be beneficial for Grovers Cars to open the business of
electric car in United Kingdom because the product designed full-fill social factors (Hämäläinen,
2018).
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Technological factor: 3D technology, wireless charging, security in cryptography etc.
are covered under technological factor. To compete with rivalry it is very important to adopt
modern tools and technology. Grovers Cars Cars is using advance tools and techniques while
formulating electric car. The advance features like it provide the mileage of 5 Kmpl in the city
and and on high way it provide 7 kmpl and can run for 4 days if once charged in the weather
condition of rainy. Through this business and product tough benchmark can be created for others
in the intense competitive world. It assist in gaining huge market share as comae to other
businesses dealing in the same segment (Nelson and Tyson, 2019).
Discussion of competition and what the competitive advantages is.
Grovers Cars is opening it's business in United Kingdom in order to meet the emerging
needs of the customers. The competitors of Grovers Cars cars are, Bentley, Lamborghini, Ferrari,
Audi, Mercedes Benz and so on. Each organization is working day and night to meet the
emerging needs of the customers and are conducting research work in order to come up with
innovative idea in the market. Competition is stated as rivalry among the firm selling same type
of goods and services in order to achieve more market share, and revenue. Organisation is
making business plan for the electric car as every kind of business is busy in identifying eco-
friendly goods. By this business is able to survive and sustain for longer time duration in the
global market.
Bentley, Lamborghini, Ferrari, Audi and so on are dealing in car and creates competition
for each other in order to be in the leading position in the global market. The unique features in
their car will be able to create tough benchmark for others. Grovers electric car has additional
features like, car is able to run for 4 days once it is charged, car batteries is charged by both sun
rays and electricity, provide good mileage of 5 Kmpl in the city and and on high way it provide 7
kmpl. All this advance features in Grovers Cars electric car will be able to gain competitive
advantages against rivalry. Having this features in electric car proves to be threatening for
competitors prevailing in the open market place. Those creative product which set benchmark for
others in the intense competitive world are stated as competitive advantages. Grovers electric
car is able to gain competitive advantages in the international market so it should be launched in
the United Kingdom market.
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Recommendation for the proposed target market.
The electric cars which is designed by Grovers Cars is prepared for the customers who
are of high or elite class. There are advance features which made it expensive as compare to
other electric cars available in the market. Organisation is mainly focusing on quality and
creativity of the product. Grovers Cars want to segment the electric cars in the minds of the
customers so that sales ratio of the car can be raised easily. By this loyal customers can be build
with the business of electric car. The type of technology is used is quite expensive in nature so
only elite class people can afford it (Levesque, 2019). High quality products are offered by
Grovers Cars in cut throat competitive world. Business associates selected their elite class people
as their target customers because the electric car is prepared for them by keeping in mind their
taste, preferences, demand and needs. United Kingdom people are accepting eco-friendly
products more as compare to other. Along, with this the government is encouraging their
businesses to come up eco-friendly product in the market so that environment can be saved from
depletion. Organization will be beneficial by tarting this group of people as they are more
conscious about environment and try to adopts eco-friendly products in their day to day living
style. By this overall productivity and profitably ratio is raised of the electric car business over
the years. As the targeted customers will be turned into loyal client for the business of electric
cars business will be able to expand their business in other nation as well (Kropff and Pilgrim,
2019).
CONCLUSION
From the above discussion it can be calculated that business plan is prepared by
examining all the environmental factors. PEST analysis is done in order to understand the
influence of external forces on the new and creative product and services. By deeply studying
political, social, environmental and technological factors management is able to frame best
strategies in order to overcome the barriers associated with them. Innovative electric car has
advanced features in it due to which this product is able to gain competitive advantages in the
global market. By this huge profit is maximized as well as large customer base is raised for the
electric car which is a positive mark for the company.
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REFERENCES
Books and journals
Abukou, J., 2018. Internet Marketing Wikipedia: Internet Marketing Fundamentals, Setup Your
First Business Website, Use Words that Sell, Develop Your Hot Selling Product, Online
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Akramovich, I. M. and Muratovna, N. N., 2019. Importance of Peculiarities of Services in
Management of Enterprises. Asian Journal of Technology & Management Research
[ISSN: 2249–0892]. 9(1).
Barnes, R. C., 2019. Organization Design for Small Business: A Discovery of Business
Fundamentals for Executing A Purposeful Path to Profitability (Doctoral dissertation,
Benedictine University).
Hämäläinen, M., 2018. Efficient business planning fundamentals within a manufacturing
company: case: Company X.
Kropff, W., Neate, P. J. and Pilgrim, V., 2019. Overcoming challenges to digital agribusiness
start-ups in developing countries.
Levesque, R., 2019. Choose: The Single Most Important Decision Before Starting Your Business.
Hay House, Inc.
Nelson, B. and Tyson, E., 2019. Starting a Business All-in-one for Dummies. For Dummies.
Nilasari, I., 2019. FROM KEY CHARACTERISTICS OF OWNERS AND BUSINESS
TOWARDS SUSTAINABILITY DISTRO BUSINESS LIFE. International Journal of
Entrepreneurship. 23(2).
O’Brien, J., 2018. Establishing a retro-marketing rental company: VW Kamper case study. The
International Journal of Entrepreneurship and Innovation. 19(2). pp.125-133.
Pain, G., 2018. Instagram Marketing: Using Instagram to Skyrocket your Business Rapidly.
Online:
PEST factors. 2019. [Online] Available
Through:<https://expertprogrammanagement.com/2018/05/pest-analysis/>
/.