Managing Human Capital and Entrepreneurship MHCE_ Assignment 2 (GC01555)
Table of Contents
1.0 Introduction.
2.0 Business descriptions.
2.1 Overview of the proposed business.
2.1.1 Business background, ownership structure, and products and services.
2.1.2 Supplier and customer information.
2.1.3 Marketing communication channels.
2.1.4 Competitive edge.
2.1.5 Financial sources.
2.2 Vision and Mission.
2.2.1 What are mission and vision.
2.2.2 Mission/Vision of proposed business 2015.
2.3 Business goals and objectives.
2.3.1 What are business objectives.
2.3.2 Proposed business objectives for 2015.
3.0 Business opportunities.
3.1 Geographic areas and industry analysis.
3.2 Competitors analysis.
3.3 Customers Analysis.
4.0 Marketing strategy.
4.1 Segmentation.
4.1.1 Proposed Business’ Customer Segmentation- 2015.
4.2 Targeting/market target
4.3.1 Targeting for the proposed business -2015.
4.4 Positioning.
4.1 Positioning for the proposed business-2015.
4.5 Scott and Bruce’s model used in the proposed business plan.
4.5.1 How the proposed business will follow the Scott and Bruce’ model
4.6 Marketing mix decision for the proposed business 2015.
4.6.1 Proposed business’ marketing mix (communication) plan.
4.6.2 Proposed business’s milestones for 4 Ps development by December 2015.
5.0 Business operations.
5.1 Customer Relationship Management (CRM).
5.1.1 Customer relationship management (CRM) by the proposed business.
5.2 Marketing budget for the proposed business-2015.
5.2.1 Sales forecast and estimated marketing budget for the proposed business.
5.3 Marketing budget allocations for the proposed business- 2015.
5.4 Controlling the marketing activities.
5.4.1 Controlling the proposed business’ marketing activities -2015.
5.5 Contingency plans.
5.5.1 Contingency plans for the proposed business:
5.6 The Proposed Business Management.
6.0 Financial activities.
6.1 Sources of finance.
6.2 Estimated Cash flows- 2015.
6.3 Forecasted Income Statement- 2015.
6.4 Estimated Balance Sheets.
7.0 Concussion.
8.0 Reference.
1.0 Introduction
Entrepreneurship refers to the concept of business development with new and innovative ideas to turn into a profitable business (Kotler et al., 2014). 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 were nearly 10% higher than in 2013 (National Statistic, 2014). Although entrepreneurship firms have several strengths and opportunity, it has been facing challenges to gain sustainable competitive advantages in the competitive marketplace mainly against well-known and establish organizations (National Statistics, 2014). Therefore, it has been a significant issue for Entrepreneurship firms to make an effective marketing plan to survive in competitive markets.
In this report, the reporter has developed a marketing plan for a proposed entrepreneurship business firm, namely “Organic Health”. 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.
2.0 Business descriptions
2.1 Overview of the proposed business
2.1.1 Business background, ownership structure, and products and services
The proposed start-up entrepreneurship business has been named ‘Organic Health’. The key activity of this proposed business is to wholesale organic fruits and vegetables in the market of London. IBISWorld (2014) states that organic food 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.)
2.1.2 Supplier and customer information
The proposed business will supply its products directly from the British firms that produce the products. The products will be wholesaled to different target markets including high street markets, restaurants, the catering industry, supermarkets, and individual customers. The business will communicate to its target customers via several mediums including face-to-face, mails, telephone and websites.
2.1.3 Marketing communication channels
The business will market its products through different channels including social networks (like Facebook, YouTube, Twitter, etc), mobile devices (like sending a message through Smartphone), websites, search engine, internet, leafleting, posturing in several locations (like bus stops, underground), introducing magazine, etc.
2.1.4 Competitive edge
The proposed business will be able to provide a competitive edge because it will be unique in the market and will attract target customers through different services such as a) supply of full line of fruits and vegetables; b) excellent after-sales services; c) good quality products in convenient locations; and d) reasonable prices. Consequently, the business will be profitable and well-established in near future.
2.1.5 Financial sources
The proposed business will initially invest £100,000 and by the next six months, it will invest more and £50,000.00. The target gross profit and net profit of the business are 30.1% and 19.9% respectively in the first year. If the business gains target profits, it will invest a bigger amount in the future.
2.2 Vision and Mission
2.2.1 What is mission and vision
Vision refers to the statement of business purpose and the way of reaching the target point. This is called the inspiration of business success (Kotler et al., 2014). Mission refers to the short of business’s communication strategies that define business and its competitive advantages (Kotler et al., 2014).
2.2.2 Mission/Vision of proposed business 2015
The vision of the proposed business is to be a leading organic fruit and vegetable retailer in the UK market. The mission of the business is to attract and retain customers through excellent customer services through its devoted and dedicated workforces……
Full Documents Click Download Button
You may also like
