Business Report: Launching a New Venture in Europe Market

This report details the launch of a new venture for Rowlinson Knitwear, focusing on its expansion into the European market with sportswear and leisure wear. It begins with an introduction outlining the venture's goals and objectives, followed by an examination of the target market, including behavioral and psychographic factors, and a competitive analysis using Porter's Five Forces. The report defines the tangible and intangible resources required, such as human, financial, and physical resources, and assesses the venture's strengths and weaknesses. A credible proposal for launching the venture is presented, incorporating market analysis, company descriptions, and financial considerations. The report further explores the skills and capabilities needed for the launch, including promotional activities and a detailed promotional plan. Finally, the report includes a monthly cash budget for the pre-launch phase, justifying the costs and providing a conclusion and references.

Launching a new venture:

Table of Contents
Introduction:.....................................................................................................................................1
LO1:.................................................................................................................................................1
P1: examine the new venture for the organisation and identifying specific target market:. .1
P2: define the specific tangible and intangible resource that are required by the company to
launch the new ventures:........................................................................................................2
M1: examine the strength and weakness of the new venture in the market places:..............3
D1: critically analysis and reflective the competitive environment with the organisation. 3
LO2:.................................................................................................................................................4
P3: make the credible proposal to launch a new venture in the organisation.........................4
P4: assess the skills and capabilities required tom launch the new venture in the market
places:.....................................................................................................................................5
M3: explore the range of skills and capabilities which are required to launch and critically
assess how they may be acquired and developed by applying the appropriate methods:......7
D2: Critically examine the supporting the costs and timescales needed for acquiring and
developing the skills and capabilities for the launch team:...................................................7
Lo3:..................................................................................................................................................7
P5: explain the different promotional activities and channels that will maintain the launch of
the new venture of the company in the new market...............................................................7
P6: Develop an appropriate promotional activities plan for the launch and prelaunch of the
company new venture:............................................................................................................8
M4: Evaluate the appropriate promotional plan for the both launch and pre-launch: \.......9
D3: critically evaluate the various promotional activities of the company:...........................9
Lo4:..................................................................................................................................................9
P7: produce the monthly cash budget for the pre-launch of the venture for the first 12-18
months preceding the launch of organisation;.......................................................................9
M5: justify the monthly cash budget showing the one off cost and ongoing cost:..............12
Conclusion:....................................................................................................................................13
References:.....................................................................................................................................13

Introduction:
The business venture refers to the process which helps the organisation to earn the desire level of
revenue by ruining the operational activities by using the consulting services to the customer. the
venture is a process where small business are running their activities on the support of demand
and supply in the target market places. In the consulting services various type of opportunities
are present in the market which helps in expanding and growing the market share of the
company in the target segment of the organisation. under this report, Rowlinson Knitwear which
is enterprise in the United Kingdom producing the apparels are now planning to grow their
product and services in the sports and leisure items in the Europe market offering knitwear
school wear. There will be discussion on the various competitors present in the company work
related places and develop the business plan with the sound budget. (Zhao and Song,2015)
LO1:
P1: examine the new venture for the organisation and identifying specific target market:
The manager and leaders of Rowlinsion Knitwear are planning to expand their business in the
Europe market place by producing the new type of goods and variety of clothes in the market
places. The company needs to examine the target market and make the effective strategies for
the competitors present in the work environment before entering into the new market places. The
organisation has to conduct the survey which shows the amount of the target customer and
what’s are their needs and wants regarding the organisation products so that they are able to earn
the desire level of profits.
Target market place: the organisation have to identifies the target market places by conducting
t he market survey and divide the whole market place in different segment based on the demand
and supply of the goods in the Europe market places. There are various methods to divide the
whole segment based on demographics, behavioural and taste and preferences of the customer so
that organisation can serve the customer and earn the profits in the ,market and established
their new business in the market in the target market . (Stayton and Mangematin, 2016)
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Behavioural factors: under this factors, the customer are located according to the purchasing
power of the customer , their interest of goods and services, and their lifestyle and requirement
of goods . the organisation focus on offering the clothes for the children, women and gentlemen
for the corporate as well as for the events of the organisation so that they are able to expand their
business in the sportswear and leisure wear.
Psycho-graphic factor: under this factors, the target customer are segmented on the bases of
their living standard , their requirement , ethics and morale. The customer flow the new trends
present in the market and buy that goods which also keep on changing with the trends in the
target market places.
Competitors analysis: the organisation have to examine the market places so that they can
understand the needs and wants of the customer which helps them to expand and grow their
business in the new market places. To examine the market, the porter five forces are used by the
organisation to analysis the market and make the effective plan to expand their ventures:
Barging power of the suppliers: under this model, in the market places there are less number
of supplier which trends to increase the prices of the good which make difficult for the client to
buy the good in the target market places. Suppler in the market make the threat for the
Rowlinson Knitwear as Europe market are suppler powers.
Barging power of the buyers: under this situation, there are various number of seller in the
market place so that customer will switch to another company if they will find the goods at lower
prices . (Aragon- and Roig-Dobon,2016)
Threats of new entrants: the organisation also get affected by the new entrant in the market as
they will over take the target market places and also take the profit share in the market places.
The organisation of the Rawlinson Knitwear gets affected by the new entrant in the Europe
market places.
Threat of substitute goods: the organisation has to face the difficulty if there are various type
of substitute goods in the target market places . the target customer will switch to another
company who are offering the similar kind of services.
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P2: define the specific tangible and intangible resource that are required by the company to
launch the new ventures:
The resources are defined as the essential part of the any organisation as they helps in attracting
the more customer towards the organisation goals and objectives in the most profitable
manners. the resources can be in various forms such as human workforces, physical resources,
financial requirement which are essential to expand and grow their business to new market.
Tangible resources: here , it includes resources such as cash and inventory requirement,
equipment and various other investment which are needed to expand the business in the Europe
market. these resources are visible and seen in the market places and have some monetary
value in the market places. It is important for the company to analyse these resources ands its
uses in the long run. There are two type of resources in the organisation such as current and
fixed in the company where the fixed resources include the land and machinery required in the
organisation for running the business. (Akemu. and Kennedy, 2016. )
Human resources: this resources are needed in the organisation to achieve the goals and
objectives in the most effective manners. Rowlinson Knitwear have efficient resources which
helps in accomplished the mission and vision of the organisation in the market places.
Financial resources: it is important and essential resources required to run the venture in the
profitable manners and helps in expanding and growing the business in the Europe market .
Physical resources: here it include the resources such as raw material, building and machinery
parts which helps the organisation to perform their task in the most productivity manners.
Intangible resources: these resources vary from the tangible items , it includes the different
type of accounts such as account receivable , payable and patent , copyright of the organisation .
in the context of the Rowlinson knitwear are able to create the good brand image in the market
places which helps them to expand their business by attaching more customer to the organisation
M1: examine the strength and weakness of the new venture in the market places:
The Rowlinson knitwear are looking forwards to expand and increase the market share in the
target market places but it also holds the risk associated with the operational activities of the
organisation. the strength of new business is that the organisation are providing the good
sportswear and leisure wear to the target customer on the reasonable prices which helps the
client to make bets use of available resources. The company is able to attach more customer by
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offering them product according to the current taste and preference in the market places. The
weakness is that organisation is trying to enter into the market which include the high risk and
difficult competition which can affects the performances of the company in the market .
D1: critically analysis and reflective the competitive environment with the organisation.
The business plan which company will follow in the Europe market is that they will provide the
sportswear in the market after having proper understanding about the competitive environment .
the positive impact examining the completive environment is that it helps in making the effective
business plan so that target market are achieved in profitable manners. the negative impact is that
organisation are not able to make the proper decision about the work environment which affects
their business plans. (Chavez, 2016)
LO2:
P3: make the credible proposal to launch a new venture in the organisation.
The organisation needs to make the effective and feasible proposal which will help the
company to launch the new venture in the target market places. These proposal will provide the
essential information about the target customer to the organisation so that effective measures
can be taken to attach more customer . the proposal need to be made by experts in the
organisation who have good vision and objective about the organisation so that target can be
achieved within the set time period. some of the effective step which helps in making the proper
new venture are stated as below:
Summary : Rowlinson knitwear are planning to expand its
operational activities in the Europe market by
satisfying the needs and wants of the customer
on regular basis. The organisation is offering
the sportswear and leisure wear to expand its
business in the target market .
Company description: The Rowlinson company is able to build the
strong brand image in the target market by
offering corporate wears and now planning to
expand their business to the new market by
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providing the sportswear and leisure wear in
the market and focus on satisfied the
customer by growing their business.
Market analysis: Market analysis is one of the important factors
while launching the new venture in the new
market place by focus on fulfilling the needs ad
wants of the target customer from time to time.
There are different method to examine the
market conditions such as SWOT and PESTLE
analysis which help in understanding the
market and making the effective segments
based on the potential opportunities available
in the target market . the main function of the
market analysis is to find out the right king of
customer for its goods and identify the
competitors for the company to make good
plans.
Financial analysis: The financial requirement is important for
the organisation to understand the finance
needs in the activities of the organisation for
launching the new venture into new market
places. It shows that how the organisation is
financial strong in the market and are able to
competitive at target market places. They are
able to manage the funds in form of loans,
borrowing funds from the different financial
institution.
Benchmarking: Its refers to the process where the company
are able to compare and analysis the
performance with the another companies. the
organisation has to see the new trends in the
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market , competitors and advance technology
P4: assess the skills and capabilities required tom launch the new venture in the market places:
There are different type of skills and capabilities which are need by the organisation to launch
the new venture in the new market places so that target objective are to be achieved in prefect
manners. these skills and capabilities helps the organisation to reduce the risk involved into
launching the new venture and focus on attending the target market places and take the
effective advantages in the competitive market . some of the important skills are as follows:
Skills: it is skills which are required by the organisation to compete the task and activities in the
most profitable manners. it also helps in achieving the objectives in the effective manners within
the set time period. few of essential skills are as follows: (Girgenti, and Giorgetti, 2016. )
Decision making skills: the organisation are planning to launch the new venture in the Europe
market to get successful in the target market it is important for the organisation to make the
effective business decision which helps them to achieve the desire level of outcomes in set time
period. it is essential to find out the right market for the product of the organisation so that they
are able to make the profits and see the long time grow in the target market.
Risk taking skills: it is also important aspect for the organisation to keep in mind while
launching the new venture in the target market places. The manager and leader are need to have
risk taking skills which helps them to achieve the desire level of results.
Managerial ability: the company needs to have managerial skills to arrange all the activities’ in
such a way which helps in achieving the goals and objectives in the most profitable manners. the
customer needs are satisfied by providing them their respective product and services in the
market and better from the another competitors.
Leadership skills: the organisation needs to have different type of leadership skills which will
help them to enter in new venture , the leader must use various type of leadership as they are
dealing to different market and focus on various kind of customer which required them to have
various type of skills to manage and handle the various situation in profitable ways.
Abilities: it is important aspect of aptitude which helps the organisation to create the market and
achieve the desire level of outcomes in the market places.
Marketing and administration abilities: the organisation need to focus on making the
effective marketing strategies so that target customer are aware about the organisation goods and
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service . it also include making effective promotion activities to attract the customer in the target
market places so that organisation are able to make profits in the long run.
Time and project administration ability: the organisation has to effective procedure which
needs to be followed by the team to achieve the desire level of results in the organisation. the
whole projects are divided into small task which are to be competed within the set time period.
M3: explore the range of skills and capabilities which are required to launch and critically
assess how they may be acquired and developed by applying the appropriate methods:
It is important for the organisation to have some essential skills and capabilities which help
them to achieve the goals and objectives in the most effective ways. these skills are found in
different forms such as making proper decision making , having efficient leadership style and
taking or evaluating the risk involved in the task and activities. these skills and capabilities are
can be provide to the team members by giving them proper training and development programs
which helps them to create or show the best results in the operational levels. These programs will
help them to develop the effective skills which lead to better performs in the organisation and
goals are to be achieved within the set time period. (González and Peña-Legazkue, 2015)
D2: Critically examine the supporting the costs and timescales needed for acquiring and
developing the skills and capabilities for the launch team:
To have the effective and product team in the organisation, there is a need of lot of cost and
time to make the proper team who will help in achieving the objectives in the most profitable
manners. the positive impact of supporting the cost and timescale in the organisation is that
they helps in achieving the desire outcomes in the most productivity manners. whereas the
negative impact is that they required lot of money and consumer lot of time of the employers as
well as of employees which organisation are not able to afford the expense and have to bear the
loss .
Lo3:
P5: explain the different promotional activities and channels that will maintain the launch of the
new venture of the company in the new market.
The promotional activities includes making the target customer aware about the organisation
goods and service by using or making effective marketing strategies so that they are aware
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about the companies goods. There are various type of promotional activities some of them are
discussed as below:
Online marketing: under this , the organisation tries to advertise the goods in the target market
with online mode as it is less costly for the organisation and reach out the larger numbers of
customer. the organisation use the social media to make the client aware about the goods and
services which they are offering.
Publicity: it also effective mode of promotion where the company are able to make the large
number of customer aware about their goods by making effective publicity in the target market
places. The organisation use different modes such as interview, word of mouth and another
ways to make publicity about the organisation goods which helps in making attention from
customer.
The most effective promotional method which Rowlinson knitwear can use is the online
marketing as it helps in reaching out to larger number of customer and it is less expense for the
organisation. the organisation use the tagline to attract the more client is: “clothes designed for
living”
Pricing strategies: the Rowlinson knitwear uses different pricing strategies as the location of
the customer and political and economic condition
Pricing at premium:
As the product life cycle, the origination focus on setting the price at low rate as compared to the
competitors to have more customer in the long run. It is effective way for small enterprise to
sell the goods. (Ilonen, and Stenholm, 2018)
Pricing for market penetration: the organisation focus on increasing the market share by
lowing the price of product,
P6: Develop an appropriate promotional activities plan for the launch and prelaunch of the
company new venture:
The promotional activities are essential for the launch and pre-launch of the good and service in
the market:
Pre-launch: the organisation trying to launch the new venture in the Europe market so they
need effective promotional activities before actual launch of good in the target market so that
customer are aware about the such goods are coming in the market and know more about the
features and benefits of the organisation goods. The Rowlinson knitwear develop the website
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where they post the information about their upcoming goods in the market and display their
product so that client can make effective decision.
Launch: here the organisation are playing their goods in the target market so that customer can
buy the goods and fulfil their needs and wants from time to time. The organisation use the
blog to make the customer aware about the new goods in the market so that they make use best
of resources.
M4: Evaluate the appropriate promotional plan for the both launch and pre-launch: \
The most effective promotional plan which organisation can use is the online marketing to pre-
launch the new venture or goods in the target market so it helps in reaching out to huge customer
and take the feedback from the customer before actual launching the goods in the Market place.
the launch of new good also need lot of promotional activities as people will get aware about the
good so that organisation are able to make the place in market.
D3: critically evaluate the various promotional activities of the company:
The organisation have to use different type of promotional activities to attract more customer
in the target segment and the positive impact is that organisation are able to mass number of
customer and earn the profits whereas the negative impact is that company have to bear the lot
of money and invest time in promotional activities.
Lo4:
P7: produce the monthly cash budget for the pre-launch of the venture for the first 12-18
months preceding the launch of organisation;
The cash budget shows the cash inflow and out flow from the organisation for the particular
time period : annual cash flow of the organisation is stated as below:
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