Comprehensive Business Plan: Oakber Illuminating Wall Wood ecore

This report provides a comprehensive business plan for Oakber, a company focused on launching "Oakber Illuminating Wall Wood ecore," a product made from recycled wood. The plan includes an overview of the business concept, emphasizing innovation and environmental friendliness, and details a marketing plan with psychographic and geographic segmentation targeting the UK market. It outlines a differentiation strategy focused on high-quality standards and branding. The report also covers market positioning, growth strategies such as market penetration, product expansion, and market expansion, and a detailed marketing mix analysis. The business aims to capitalize on the demand for eco-friendly home décor and interior design, offering unique wooden products like multi-color wooden floors and custom furniture designs. The plan emphasizes the importance of promotional activities and understanding the target customer group for effective marketing.

Business Reality

TABLE OF CONTENTS
INTRODUCTION..........................................................................................................................3
MAIN BODY.................................................................................................................................3
1. Overview of business concept ...............................................................................................3
2. Marketing plan and analysis...................................................................................................5
3. Positioning..............................................................................................................................6
4. Growth strategies...................................................................................................................6
5. Marketing Mix........................................................................................................................7
6. Environmental analysis ..........................................................................................................9
CONCLUSION............................................................................................................................13

INTRODUCTION
The business plan can can be referred to as documents which consists of detailed
information about the way future business activities will be performed. Formulation of business
plan includes determination of the best strategies which will be applied in the future for
fostering business growth. Business plan also defined the way business goals will be achieved in
the future. Planning for business expansion is considered to be as strategic exercise which
includes determination of exact requirement for expansion of business. It is the expansion plan
which assist in determining the resources and capital required for expanding business
operations. It is very much crucial for manager to address those areas which are needed to be
expanded, and they are also required to identify the stakeholders those who will play important
role in expansion of business.
The report will include innovative plan and the business concept is to launch Wooden
wall Wood ecore. Study will emphasize ion analysing the growth strategies which can be
adopted by an enterprise for expansion of business. It will also highlight the techniques which
will be adopted by organization for promotion of goods or services.
MAIN BODY
1. Overview of business concept
Innovation can be defined as procedure developing as well as execution of fresh ideas.
It can also refer to as selection of the innovative ideas and transformation of the same into new
goods or services. The main source of innovation in business is creativity. In relation to
creativity, it can be defined as utilization of imagination for producing products or services.
Creativity leads to emergence of techniques which can be utilized for bringing improvement in
the quality of goods or services as well as business procedures. Due to continuous changes in
business environment as well as increase in competition, it has become crucial for companies to
develop as well as introduce new product in the market. It is the innovation strategy which will
assist firms in maintaining the business sustainability in highly competitive environment. In
addition to this, an organization by facilitating the innovation would able to cater the needs as
well as demands of the customers in the market (Dale, 2019). It is very much essential to apply
the systematic approach for developing the understanding about the needs of customers before
planning to produce innovative products or services. In addition to this, the other factors which
are required to be considered by management when developing the plan for launch of new

product in the market is change in trends. As it is the tactics which will provide management an
ease in determining performance gap that could be filled by launching innovative product in the
market. In relation to the present study, the business plan related to launch of specific product
has been developed considering the minimum cost of production. Here, Plan is to establish
home furnishing as well as interior designing business. Business ideas is innovative is that all
environmental friendly material will be utilized for making furniture as well as decoration of the
house. It is the new business concept as business owner is planning to sell Wooden Wall ecore
which is completely new product in the market. The name of new business venture will be
“Oakber Illuminating Wall Wood ecore “. It is the product which will be produced by utilising
the leftover of the wood. The main source of business idea related to the launch of “Oakber
Illuminating Wall Wood ecore has been originated from the experience of all leftover woods
after the completion of all home furnishing work. The other source of generation of business
ideas is the analysis of the small wooden piece as wastage are disposed by the furniture stores.
Considering the wastage of resources, new business plan has been developed so the waste pieces
of the wood can be utilized in effective manner. The main business concept here is to transform
the waste small piece of wood into valuable product.
Procedure of establishing new business venture begins with the collection of the
leftovers from the furniture shops. In addition to this, there are many products which can be
utilized for making home decoration items. For instance, after the completion of new wooden
floor few planks left which are considered to be extra and can not be utilized for creating more
new floors as they are of either unequal sizes as well as have different shapes as well as lengths.
The leftover planks will be collected by the business owner of new company for developing
innovative decorative item. The other products made up of wood which an entrepreneur of
“Oakber Illuminating Wall Wood ecore is planning to launch in the market are wooden ceiling
which will be offered to customers on demand (Hopp and Greene, 2018). Wooden ceiling will
be produced by utilizing the left over hardwood which has sufficient length. In addition to this,
business entity is planning to introduce multi colour wooden floor. Implementation of launching
the wooden flour in multiple color is possible as woods are available in different colours. In
addition to this, all the leftover wooden plank would be gathered and will be utilize for
producing a unique furniture design for clients. In context of the new business idea of home

furnishing as well as interior designing business, it will be the multiple colour wooden floor
which will assist an organization in capturing the attention of customers.
2. Marketing plan and analysis.
Division of market and targeting: it very crucial for Oakber to position their goods in the niche
market as this marketing strategy will provide an organization in selling their products and
earning high profit. Psychographic Segmentation is the strategy which can be applied by the
Oakber for dividing the wide market into small segments. It is the type of segmentation of
market segmentation strategy in which market or customers are categorized in to small segments
on the basis of their style of living, interest and hobbies. Psychographic Segmentation as a
marketing strategy is somewhat same as behavioural division but difference between the two is
that Psychographic Segmentation marketing strategy involves mental prospect such as
purchasing patterns of customers, social status etc. Both marketing as well as management team
in Oakber is planning to target the people belonging to upper middle income group families.
Such target customer group has been selected, as it would be easier for organization to attract
such people.
Geographical Segmentation: It is considered to be as one of the most commonly used market
segmentation strategy. Companies utilizing the geographic segmentation strategy categorize the
customer group on the basis of their region or location. OakBer is planning to adopt
Geographical Segmentation, as it will help an enterprise in fulfilling the needs as well as
demands of customers in particular location or region (Lam, 2018). It is the Geographical
Segmentation market segmentation strategy which will assist business entity in selling their
goods or services based on the location where their target customer group reside. Both
management as well as marketing team in OakBer has made plan to target customers residing
in UK. Such targeting plan has been made by the organization as it will provide them an ease in
distribution of goods to customers. In addition to this, Geographical Segmentation will assist
firm in reaching to the target customers group. It will also provide firm an ease in developing
the understanding about the requirement and wants of their targeted customer group.
Differentiation: It can be defined as production of innovative goods in order to attract more new
clients . Differentiation is the beat strategy which helps an organization in gaining the
competitive advantage in the market. In relation to the OakBer am organization will have much
concentration on maintaining the high quality standards which will further assist business entity

in gaining competitive advantage. An organisation will label its own goods as it will assist them
in differentiating iots items from that of competitors.
3. Positioning
Market positioning can be referred to as procedure which includes creation as well as
maintenance of valuable proposition for goods or services. Positioning might involves
advertisement, branding, pricing, development of product, distribution and sales. It is
considered to be as one of the concept of marketing for placing their goods or services in the
market. Selection of an appropriate positioning strategy is very much crucial in order to reach
target customers group and sell them goods or services (Finch, 2019). In relation to the Oakber
both marketing team and manager in an enterprise will consider the strength of an enterprise and
uniqueness of product before positioning it into the market. Oakber will have much emphasizes
on promotional activities. In context of Oakber management in an enterprise has planned to sell
premium quality of wooden decorative items as well as furniture at reasonable costs.(Li, Chen
and Zhang, 2019.) In context of OakBer, company before as well as after launch of new
product will have much concentration on the promotional activities, as this strategy will assist
an organization in earning high revenue as well as profit. Business entity will implement the
intensive positioning strategy. Manager in OakBer, company will develop the understanding
about the target customer group, as this strategy will provide them an ease in formulation of an
effective marketing plan. Positioning strategy will be selected by an enterprise considering the
unique design of the goods that is Oakber Illuminating Wall Wood ecore which is to be
launched in the market.
4. Growth strategies
Growth strategies :
The main as well as primary objectives of all private organization is to expand business
operation for earning high profit as well as revenue. There are different growth strategies which
can be utilized by Oakber can utilize for expansion of business operations are :
Market penetration : It is considered to be as one of the best strategy that could be applied for
the expansion of business. Market penetration is the growth strategy where an organization plan
to continue its operation in its existing market and continue to sell the same goods to customers.
In relation to the Oakber an enterprise will apply the market penetration strategy for increasing

its market share. It is the market penetration strategy which will assist an organization in
increasing profit. In context of Oakber will sell “Oakber Illuminating Wall Wood ecore in its
existing market. In addition to this, an organization is planning to sell multi colour wooden
furniture as well as floor in existing market.
Product expansion : An enterprise with product expansion add more number of goods into its
portfolio. It is the strategy which will be adopted by Oakber for attracting more number of
customers. Product expansion strategy will also help an enterprise in reducing the adverse effect
of competition on business (Harris, 2019). It will also help business entity in increasing market
share. In relation to the Oakber business entity can launch newer wooden decorative items such
as wooden wall clock, wooden vases, hanging candle holders etc. Product expansion as well as
innovation strategy will also help Oakber in gaining competitive advantage.
Market expansion : It is considered to be as other best way of expansion of business. In relation
to the Oakber will adopt the market expansion strategy as it intends to determine other market
which are easy to reach. By utilize the market expansion strategy Oakber will sell its present
goods that is “Oakber Illuminating Wall Wood ecore as well as multiple colour wooden floor in
new market. By making the application of market expansion strategy Oakber will able to
increase its market share.
5. Marketing Mix
Marketing mix can be referred to as integration of such variables which can be
controlled by an organization for positively influencing people to buy goods or servvicves.
Product:
OakBer 's Wall Wood 'ecore is a wooden wall decor With illuminating background
which creates a classic hallmark for your living space. Normally, it has been observed that
wooden leftovers are wasted or burnt according 10 our project it can be re- usable in an efficient
and productive way. In context of Oakber mainly concentrate on developing the innovative
products by using the wasted raw material, It is the strategy which has helped an organisation in
gaining the popularity.
Price: Oakber is planning to sell their innovative wooden items at the costs of €20 per unit at
initial launch of products in the market. Such pricing strategy is adopted by an enterprise
considering the income level of the target customer group. Business entity is concentrating on
maintaining the quality of products so that an enterprise could sell their goods at high cost to

customers. Maintenance of quality of products is considered to be as one of the best strategy as
it will help firm in reducing the bargaining power of buyer which is very much essential in order
to maintain price of goods as well as profitability.
In context of OakBer 's management in an enterprise is planning to adopt the skimming
pricing strategy. It is the strategy in which the company at initial product launch stage keeps the
prices of goods or services high. Prince skimming strategy will be adopted by OakBer 's as it
will assist an enterprise in developing good image as well as perception of customers about
newly launched goods. In addition to this, price skimming strategy will also help an
organization in recovering quickly the cost involved in the development of specific product that
is Oakber Illuminating Wall Wood ecore , furniture and wooden floor.
Promotion : It is one of crucial business activity which assist an organization in earning high
revenue as well as profit. In context of Oakber an organization will use both print as well as
social media for promoting the newly launched goods that is Oakber Illuminating Wall Wood
ecore, furniture and wooden floor. Social networking will be utilized by firm for generating
brand awareness (Milani, 2019). Use of the social media or digital strategy is considered to be
as one of appropriate strategy which will help an enterprise in promoting their goods or services
at wide scale. It is the strategy which will provide Oakber firm an ease in reaching to the wide
number of target audience. Use of social media strategy will aid an organization in reducing the
costs associated with promotion of products.
Place: It includes the place from where customers can easily access the products or services
offered by an organization. In context of Oakber, business entity is planning to sell its goods or
services online in order to provide customers an ease in making purchase. Management in a firm
has planned to establish online store. In addition to this, an enterprise will form strategic
partnership with E-commerce company like Amazon, as this tactic will provide of Oakber an
ease in distribution of products or services.
6. Environmental analysis
Environmental analysis can be defined as assessment external surrounding in order to
address those factors which can have significant effect on business performance of company.
Pestle analysis is considered top be as one of an appropriate tool which can be applied by the
management in Oakber, for identifying those external variables that could have great influence

on business strategy, plan and practices. In relation to the Oakber, different factors which can
effect the business plan b of an enterprise are:
Political factors: This variable includes trade restrictions, environmental as well as labour
legislations, tax policies have significant effect on the business environment as well as on the
business performance of company (Yu, 2018.). It is the external factors which also involves the
political unrest in the nation which might create the barriers in establishment of new business
venture.
Economic factors: It is the external forces which involves both micro and macro indicators.
Few economic forces which might have significant influence on business expansion plan of
Oakber, are inflation, change sin income level of customers, increase or decrease in tax as well
as exchange rate etc. Due to the increases in the prices as well as taxes Oakber might have to
face difficulty in expansion of business operations in other country. Changes in the economic
variable has significant influence on the purchasing power of firm. In relation to Oakber, it is
very much crucial for an enterprise to set the prices of their products or services considering the
economic situation of the market.
Social factors:This external forces involves changes in trends, culture, taste as well as
preference of customers. Changers in the social factors have great effect on the demand for the
products or services offered by an organisation. But in context of Oakber changes in the social
factors have less effect on the demand for wooden item. In context of the Oakber, firm will
concentrate on promoting the way they are producing the specific wooden item in eco friendly
manner, as this tactic will assist an enterprise in attracting customers (Schramm, 2019.).
Promotion of the eco friendly procedure used for developing the product strategy will help
company in developing the good relationship with customers which is very crucial for long term
sustainability of business.
Technological factors: It is the variable which includes emergence of digital technology. In
context of Oakber , management in an enterprise is planning tyo use advance technology such
as social media mainly for two purpose first for promoting goods. Secondly, for continuously
interacting with customers.
Legal factors: It involves various types of norms such as employment law like health as well as
safety act, wage act, labour law, company law etc. that are applicable to industry in which firm

is operating business. In context of Oakber, an organization will follow all the legislations in
order to prevent legal obligation.
Environmental factors: this external; forces includes changes in climate conditions as well as
intensity of competition in industry. Due to the intense competition , Oakber might have to face
difficulty in establishing good position. A company is planning to implement innovation
strategy which will provide them an ease in entering into new market. It is the strategy which
will assist enterprise in gaining competitive advantage.
7. Analysis of strength, weakness , opportunities and threats of organisation
Capabilities:
 Design of the wooden items offered by business entity are fascinating, attractive
as well as innovative.
 Availability of talented and expert labour at reasonable cost.
 Availability of raw material as well as there are number of suppliers from whom a
firm can purchase raw gtoods.
 Localised 1001s acquirable
 An organisation Has high ability to facilitate innovation as well as capacity to
differentiate its goods from competitors.
Imperfection:
 Lack of knowledge about the market.
 Inaccessibility of ready-made products.
 Oakber has Limited amount of financial as well as other resources because of which an
enterprise might have to face difficulty in expansion of business operations.
Opportunities:
 there has been continuous growth in the market which is targeted by Oakber.
 In present world, there is great demand of Unique goods in the market.
 Domestic as well as exhibitions at global level.
Danger or risk :

Existence Of multinational organizations in an industry as the direct rival Of organisation.
It is because of 10 rationale which customers normally choose to purchase few trendy as well as
for decorating their houses. It is considered to be as an innovative as well as cost effective idea
in relation to dealing with a rejection from customers who have different perception as well as
mindset.
8. Fiscal analysis.
In relation to the Oakber, an organization will make investment of £80000 as intial cost.
In addition to this, forty-five thousand will be utilized as fixed cost. Amount of thirty thousand
will be used for making payment for variable cost as well as other five thousand will be kept as
reserves which will utilize during uncertain situation.
Fixed costs: It is the cost which remain fix during the complete production procedure. In
relation to establishment of new business, such type of cost occur at the beginning phase.
Example of such cost include purchase of land, payment of rent, acquisition of building etc. In
context of Oakber, business entity has planned to outsource there production activity, as this
tactics will aid an enterprises in eliminating the high amount of charges associated with
purchase as well as installation of machineries or other electrical devices (Heo, Kang and Kim,
2018.).

Variable cost : It is the cost which get increase or decrease with changes in volume of
production. In relation to Oakber, management in business entity is planning to make huge
capital investment on marketing activities, as this tactic will help an organization in developing
good brand image which is very much crucial for successful launch of the product in the market
(Susanto, Si and Kom, 2018.). The variable costs which management in Oakber is expecting
includes: