Table of Contents
1.1 Justification of study.
1.2 Study Objectives.
1.3 Scope of the study.
2.0 Description of the proposed start-up business.
2.1 Business background, ownership structure, and products and services.
2.2 2.2 Vision and Mission.
2.2.1 What are mission and vision.
2.2.2 Mission/Vision of proposed business 2016.
2.3 Business goals and objectives.
2.3.1 What are business objectives.
2.3.2 Proposed business’s objectives for 2016.
3.0 Entrepreneurial Team.
4.0 Market Analysis.
4.1 Industry Analysis.
4.2 Market Assessment for the proposed business.
4.2.1 Supplier and customer information.
4.2.2 Marketing communication channels.
4.2.3 Competitive edge.
4.2.4 Customer Analysis.
4.3 PESTLE Analysis for the proposed business.
4.4 SWOT Analysis for the proposed business.
5.0 Competition analysis.
5.1 Proposed business competitors.
5.2 Porter Five Forces Analysis.
6.0 Entrepreneurial marketing strategies for the proposed business.
6.1.1 Proposed Business’ Customer Segmentation- 2016.
6.2 Targeting/market target
6.2.1 Targeting for the proposed business -2016.
6.4 Positioning for the proposed business-2016.
6.5 Scott and Bruce’ model used in the proposed business plan.
4.5.1 How the proposed business will follow the Scott and Bruce’ model
6.6 Guerilla Marketing.
6.7 Sponsorship marketing.
6.8 Viral Marketing.
6.8.1 Social Media Marketing.
6.8.2 Email marketing.
6.8.3 Mobile Devices.
6.9 Marketing mix strategy in the proposed business’s marketing.
7.0 Business operations.
7.1 Customer Relationship Management (CRM). 20
7.1.1 Customer relationship managed business-2016.
7.2.1 Sales forecast and estimated marketing budget for the proposed business.
7.3 Marketing budget allocations for the proposed business- 2016.
7.4 Controlling marketing activities. 22
7.4.1 Controlling the proposed business’ marketing activities -2016.
7.5 Contingency plans.
7.5.1 Contingency plans for the proposed business:
7.6 The Proposed Business Management.
8.0 Financial activities.
8.1 Sources of finance.
8.2 Estimated Cash flows- 2016.
8.3 Forecasted Income Statement- 2016.
8.4 Estimated Balance Sheets.
1.1 Justification of the study
Most of the large and successful organizations (such as Microsoft, Coca-Cola, IBM, Samsung, Dell, Virgin, etc) in the present business world were small entrepreneurship firms once when they started up the businesses (Coulter, 2012). This means entrepreneurship is the starting point of being a successful and big company.
The opportunity of entrepreneurship business is growing up slowly in the United Kingdom, wherein 2014 the revenue of entrepreneurship business in the UK was about five million pounds which was nearly 10% higher than in 2013 (National Statistic, 2014). However, entrepreneurship firms face several unique challenges and opportunities (Morris et al., 2014). The main challenge of entrepreneurship firms is it faces difficulties to survive in competitive market places and gain sustainable competitive advantages because of their limited resources against the well-known and bigger organization (Palmer 2012). For example, a start-up sole trader retailer will face challenges and difficulties to gain improved market share and survive against retail giants like Tesco and Sainsbury’s.
However, as Steve and Caroline (2012) notes, entrepreneurship firms can turn their weaknesses and threats into strengths and opportunities and can create a unique identity through different marketing strategies. For example, start-up firms can provide clever advertising through Social Media and other digital tools that can recognize the firms to the huge number of target customers within short-time periods. Therefore, it has been a significant issue for Entrepreneurship firms to make an effective marketing plan to survive in competitive markets.
1.2 Study Objectives
This report has developed a marketing plan for a proposed entrepreneurship business firm, namely “Peace & Fashion “. First, the reporter has outlined the background of the proposed start-up firm. Second, the reporter has focused on the mission/vision, aims, and objectives of the proposed business. Third, the reporter has conducted an analysis of the proposed business’s environment. Fourth, the reporter has outlined the marketing strategies for the proposed plans. Fifth, the reporter has emphasized marketing budgets. Finally, the reporter has outlined the financial sources and financial reports for the proposed businesses.
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1.3 Scope of the study
Start-up entrepreneurship firms have strengths in product innovation and creativity but have weaknesses in marketing competencies and promoting products into the right marketplaces attracting the right customer segments. As a result, Peter (2012) states that start-up entrepreneurship firms should follow big companies’ strategies as their training grounds. Morris et al. (2012) analyzed the statement provided by Peter (2012) and found that there are a number of logic behind this statement.
First, as entrepreneurial marketing is specified by business firms, the best way of defining entrepreneurial marketing is to follow organizations that have experiences and are successful. Thus, the proposed ‘Peace & Fashion ‘ company can develop itself following the big companies’ strategies. Second, Christine (2011) discloses that most of start-up firms cannot develop unique marketing strategies, consequently, they have followed the same strategies used by big companies…
2.0 Description of the proposed start-up business
2.1 Business background, ownership structure, and products and services
The proposed start-up entrepreneurship business has been named ‘Peace & Fashion ‘. The key activity of this proposed business is to wholesale organic fruits and vegetables in the market of London. IBISWorld (2014) states that Peace & Fashion refers to the foods which are produced using minimal pesticides and artificial fertilizers taking care of the health and wealth of human. The business will be run by two partners that means the business’s structure is a partnership. The proposed products of this business are organic fruits (like apple, banana, pears, berry, etc) and vegetables (like lettuce, tomato, cucumber, etc.)
A start-up idea in this report is to start a business called “Peace & Fashion ”, where the key operation is wholesaling several organic fruits and vegetables in the London market. The proposed business will supply these innovative products from several British firms and will be sold to different groups of target markets in London including restaurants, catering industry, off-licenses, street shops, individual customers, and supermarkets………..