Marshfield Bakery: Innovation and Entrepreneurship Report

This report presents a comprehensive business plan for Marshfield Bakery Limited, a small bakery located in the United Kingdom. The report delves into the concepts of innovation and entrepreneurship, emphasizing their importance in developing successful commercial ventures. It begins with an executive summary and then moves into a detailed analysis of the bakery, including its startup business ideas for herbal bakery products, industry profile, and business model. The report further explores the company's points of differentiation, challenges, and prospective customers. A brief marketing plan, competitor analysis, sources of funding, and intellectual property considerations are also included. The analysis covers market segmentation, targeting, and positioning (STP) along with the marketing mix. The report concludes with a discussion on the importance of innovation and entrepreneurship for strategic organizational growth and provides insights into the UK bakery market. The report examines the company's offerings, business strategies, and its competitive landscape, providing a thorough understanding of the business's operations and potential for success.

Innovation and
Entrepreneurship

Executive Summary
As per the report is covered about innovation and enterprise along with creating better
business plan of chosen company which enhance to generate opportunities and challenges. In
further report is concluding about competitive analysis, different business model along with brief
marketing plan for effective understanding business structure.

Table of Contents
MAIN BODY...................................................................................................................................3
Start up business Ideas(Product or Services):........................................................................3
Industry Profile:......................................................................................................................4
Business model.......................................................................................................................6
Point in Differentiation...........................................................................................................7
Challenges to the business ideas.............................................................................................7
Prospective customer..............................................................................................................7
Brief Marketing Plan..............................................................................................................7
Competitors analysis..............................................................................................................8
Sources of Funding.................................................................................................................8
Intellectual property................................................................................................................8
CONCLUSION................................................................................................................................1

INTRODUCTION
Innovation and entrepreneurship are both important specification of developing
successful commercial business. Innovation is concept which refer about creativity or new ideas
to implement in product and services method sources of supply chain and organisation (Akpan,
2020.). This is an innovation is more than an idea or an innovation that create invention its the
result of taking towards market (Celtekligil and Adiguzel, 2019). As the entrepreneur innovation
are kind of creators where they introduce their vision which is out of the box kind and having
motive to setting up new bench towards further trends. The ability to motivate sense of vital
component of thriving business where it seen as an essential aspect of entrepreneurship.
In this report, the small company is considered is Marshfield Bakery Limited as it located
in Chippenham, United Kingdom (Ghezzi and Cavallo, 2020). It is part of Food Wholseler
industry. Marshfield Bakery Limited has 82 employees as it having location and generates
$6.59million in sales(USD). It has 886 corporate family connection, further in topic is elaborate
about product and service information industry profile , company differentiation and from other
product within similar product and services. Along with challenges of company customer
perspective better product and service offers and brief marketing plan through effective
competitive analysis.
MAIN BODY
Start up business Ideas(Product or Services):
As the company Marshfield Bakery Limited that is small business which they provide
bakery related food and services. Along with it generally enhance medium price offer in
their products. They have different location their services provide, but they are planning to
coming up with Herbal Bakery product and services. The motive of manufacturing Herbal
bakery product is to making people health fit and reduce to unhygienic food material. On
the basis of survey majority of people in UK are non vegetarian but Marshfield Bakery
wants to supply effective source of bakery to those people who are vegan in nature and like
to eat food vegetables and others (Choe, Oettl and Seamans, 2020.). There are many flavour
which are highlight on basis of Dianthus and Lavender Gelato type of Sandwiches and other
like biscuits, eggless cake and pastries to provide by the Marshfield Bakery company. Some
of Herbal Bakery product could be medical trait nature as well as it would help to adults

people for making their sugar and blood pressure type of people where they prefer organic
food items. Fast foods and other chemical flavour food is very hygienic or could be harmful
to their heath that must need to avoided by them.
Industry Profile:
The industry is selected Bakery Industry, a history of bakery that procedure and sells flour
based baked to in an oven and it is one of most simplest diet for human being. The diet
which provide bakery industry cakes, biscuits, bread, snacks and other lighter food items.
Some of retail baker like Marshfield bakery store is United kingdom based, where it also
comes in category that consume for baked good and service that promises most throughout
bakeries in the entire world (Gouvea,Montoya and Vora., 2020). As it consider a huge
industries where many international country is having their own franchise like in United
Kingdom, Spain, USA etc. Some of the factor which Bakery industry as well as Marshfield
Bakery company would need to consider in further are:
The market segment of bakery product:
 Bread: 32 percent.
 Rolls: 19 percent.
 Cakes: 15 percent.
 Retail bakery product are: 10 percent.

 Soft cakes: 8 percent.
 Pies: 2 percent.
Barriers to entry: As attractive large component of commercial bakery which takes a large
amount of capital which need to purchase equipment. Through opening a small, retail bakery
which requires with having less equity where easier to start. Smaller bakeries can established
themselves with better specialists about product where such as whole grain breads and
develop a loyal following of local customers. As Marshfield Bakery is small business where
they have High level of barrier in enter into UK bakery market as because many
multinational bakery venture are Burberry, Asda Stores, Starbucks etc.
Threats to the Market: On the basis of consumer perspective, many of them are
approaching health or organic type of food and beverages. As the people are prefer low
carbohydrate, whole gain, organic type of food in bakery. But many other food and
beverages company who are deal in bakery food items too can have high quality of bakery
food items which can make customer retention are Burberry, Starbucks etc.
For Marshfield Bakery company is measuring about their new product development which
they tries to introduce in competitive market Herbal Bakery products. Therefore, they need
to measure the people taste and preferences through using of Social factor in which exploring
of Demographic factor where choosing of customer by age, groups, race, caste, gender,
background taste and preferences.

Business model
The term business model emphasis about company’s plan to making profit. It is identifies the
product or service the business plan to sell, its identified target market and any anticipated
expenses through which business model are important for both new and existing business
(Djumanazarovna., 2020). The industry which chosen is Bakery business in which this venture is
mainly specialise about what they are supplies on fresh food items along side complementary
service like Coffee, tea, or Soft drinks. Each type of small and large bakery they have own
culture which they are variant form bakery to the next.
Here is elaborate about bakery business plan for Marshfield Bakery company are:
 Clear about objective: For Marshfield Bakery company is small business venture in UK,
as they have motive to provide quality of Vegan Herbal bakery food items along with
quite affordable prices. Thus, this objective help to create better business plan for
Marshfield Bakery company.
 High Volume Sales: Bakeries are typically founded on such model which need high
sales volume. For that Bakery company need quality of raw material input in their
product and service that attract customers. As small business companies are only generate
sales when they have to negotiate with their prices. Low prices is the only way to
generate more sales.
 Speciality of Goods: On the basis of many cafes ensure to provide quality of bakery food
item and they focus to facilitates speciality food offer customer. For Marshfield Bakery
company is having speciality about Herbal Bakery product market (Dressler, 2020). This
orientation towards speciality product and relatively inexpensive luxury goods on which
consumer can draw through bottom line.
The simple strategy which need to focus every start up venture (Marshfield bakery company)
is to determine on growth not profit because growth is directly proportional towards revenues
(Malerba and McKelvey., 2020). Mapping on new market trends which generate new
business opportunity in competitive marketplace. Plan for optimise IPO as well as measure
better share price along with connect with potential shareholders.

Point in Differentiation.
As the Marshfield Bakery company is differ from Starbucks, Burberry and others in terms
of product quality and services where they provide Vegan Herbal Bakery products which is
purely organic and keep people’s health fit and strength.
Business different from other organisation
The Marshfield Bakery company is differ from its competitors in perspective of their
product and service as they offer to customer. As Marshfield company is emphasis to produce
Pour Organic Herbal Bakery food and services which is proper hygienic. In fact, overall bakery
product and service that they are provide to customer is within better affordable price manner.
Challenges to the business ideas.
Some of the challenges which generate within small business for example such as
Marshfield Bakery Company are :
 Capital: This one of common and initial stage of starting business arises to arranging of
effective capital as well as facing difficulties towards new business owners.
 Client or Customer Dependence: It is single client which makes up more than half
about effective income and having independent contractor that owns better business.
Diversifying client basis of vital growing through effective of business, but it seem to
difficult. As every small business having a client willing to pay on time product or
services.
 Difficult to Money Management: To having enough cash which covers bills that
enhance some important term for business where it is must for every individual. It likely
to emerge as capital drain that puts pressure on other. To avoid this problem small
business owner must either capitalised on which pick up extra income through better
reserves when needed. Money management becomes even more essential at the time of
cash is flows within business (Njoroge, Anderson and Mbura., 2019). Although handling
business accounting and taxes may be within the capabilities of most business. The major
complexities for company to book’s increase with each other within client and employee
so making assists on the bookkeeping which can prevent from becoming a reason to not
get expand their business.

 Manpower: Every start up venture and small business seeking for potential employees
for their workplace, but experience and potential manpower demand hikes on their wages
which is difficult for every small business to afford it effectively.
Prospective customer.
The ideal customer for Herbal Bakery Food product is to target are Adults who are having
age of 30-50 age group because as per their health many of middle age people are tend to
be health consciousness.
Brief Marketing Plan.
A Marketing plan can be part of business plan part where it helps to make effective kind of
strategies to suggest where as well as marketing plan so may goals which may accomplished.
While better marketing plan that contains about list actions, without a sound of strategic
direction which use in little business. In marketing plan there is include of different type of
strategies and practise such as STP, monitoring and controlling, Mission, vision and objective
and Marketing mix strategy (Salunke, Weerawardena and McColl-Kennedy., 2019). In following
there is elaborates about Marshfield Bakery company to gain effective competitive advantages.
Mission: Their mission statement is to “Create a bakery which makes the best quality
baked goods on site of scratch on fresh daily.”
Vision: To create better and positive atmosphere the brightest allows most talented people
in industry where they can contribute their skills to expand business effectively.
Objectives: As the main objective of Marshfield Bakery company is small venture and they
coming up with the idea of offers Herbal Bakery food product to customer for their good
health as well as better health.
STP Analysis of Marshfield Bakery Company:
 Segmentation: As the market segment of Marshfield Bakery company is to target
on UK street and small food shops to focus on middle range of people for promote
their Herbal Bakery product within effective manner.
 Targeting: The company would majorly target middle range of people but they can
easily target people on the basis of demographic such as Age, Gender, Race, Cast,
Color, Taste and preference.

 Positioning: As the position of Marshfield company of bakery is having in UK in
quite better stable within competitive market.
Marketing Mix:
Elements of Marketing
Mix
Marshfield Bakery Company(Herbal Bakery Product)
Product The product which company wants to introduce is Herbal
bakery food product in form of biscuits, cakes, pastries, soft
drinks and organic type of foods and services.
Price As product are quite quality of food and services in which
company implies price penetration strategy (Ferraris, Santoro
and Pellicelli, 2020). Marshfield Bakery company allows the
low price as they are target middle to upper class of people.
Place By making provide company product and services of Bakery
on United Kingdom boundaries as well as cover overall
Europe.
Promotion The promotion practise is enhance through digital promotes,
electric banner, advertise on small street shops to mamke
aware of customer.
Competitors analysis.
According to this term encompasses about related with managerial strategic tools and their
backgrounds study that help to examine the competitive market place. it further helps to assess
competitors performance in terms of their sales, revenue, market and product base development
(Setini, Ketut Giantari, and Rajiani,, 2020). According to this analysis it generally provide both
offensive and defensive strategic content for valuable content to investigate opportunities and
threats.
By using Swot Analysation for Marshfield Bakery company to mapping effective
competitive advantages:
Strength Weakness
 The extension product line towards  There is low point of differences within
food menu and compare to other bakery

pies.
 Having presence of reservation facility
for enabling parties within more than 5-
10 members.
 Better scope of quality of different
theme of snacks, sweets pastries, cake
with flavoured and send gift to their
loved ones.
 Presence of brand towards higher
decades within more than 100 above
stores.
company they have wide many food
items with different dishes.
 Lack of promotion and enough
branding image would creates conflicts
to running the business.
 Operating only in limited areas within
USA. As Marshfield Bakery is
covering Europe region where already
high multinational bakery companies
overtake the market.
Opportunities Threats
 The Scope of business expansion is
high where it creates better respect with
menu as well as location.
 To focus on more branding towards kid
that attracting families .
 More food, bakery and beverages
companies who have high majority and
stake in competitive market such as
Burberry, MacDonald, Starbucks etc.
 Fluctuation in price of raw material can
be loose competitive advantages.
Sources of Funding.
In following of Source of Funding which helps to Marshfield Bakery company are;
 Personal Investment: At the initial or beginning time of business, investor and
investment must be done by own itself through own cash or collateral security through
assets (Tang, Fisher and Qualls, 2021.). This proves on investors and bankers which have
long term commitment that project to undertake risk factor.
 Venture of Capital: It is been clear that venture capital is not essential for every
entrepreneurs. Through right from initial start, entrepreneur need to aware about high
technology driven better business man companies for better growth such as information
technology, communication and biotechnology.

Intellectual property
It is refers to creators through mind, such as invention, literary and artistic work design and
symbols names and images used in commerce. For today start-up company intellectual right
plays an important role to protect and make authentic company symbol for diversified
opportunities and market. It has become comparatively easy to set up and ends own
business.
 Patent: It majorly prevent about form making selling and using an invention that
includes product and service (Valenti. and Horner,, 2020.). Even through patents
are the most expensive and time consuming assets through obtain protection from
illegal threats, not other company can overtake.
 Trade secret: It is an intellectual property with own confidential information which
could be sold and licensed. It further encompasses about practise and process
through have intendent economic values.