launching new venture.doc - Launching a new venture Table of Contents INTRODUCTION.1 TASK 1.1 P1 Identification of specific target markets and

launching new venture.doc - Launching a new venture Table...

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Launching a new venture
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Table of Contents INTRODUCTION .......................................................................................................................... 1 TASK 1 ............................................................................................................................................ 1 P1 Identification of specific target markets and competitive analysis ........................................ 1 P2 Specific tangible and intangible resources that required for a new venture .......................... 3 TASK 2 ............................................................................................................................................ 4 P3 Formulation of credible proposal to launch a new venture .................................................... 4 P4 Skills and capabilities required to launch a new venture ....................................................... 5 TASK 3 ............................................................................................................................................ 6 P5 Determination of promotional activities and channels for launching new venture ............... 6 P6 Formulation of appropriate promotional activities plan for both launch and pre-launch ...... 6 TASK 4 ............................................................................................................................................ 7 P7 Monthly cash budget for the pre and after launch phase ....................................................... 7 P8 An appropriate legal form for the venture ............................................................................ 10 CONCLUSION .............................................................................................................................. 11 REFERENCES .............................................................................................................................. 12
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INTRODUCTION There are many ventures are available in front of entrepreneurs through which they can start their own business in market and earn profits through satisfaction of the demands of customers. To attain success in their entrepreneurial ventures large number of skills are required to have by the entrepreneurs which helps to understand the conditions in market and build strategies according to them. There are many challenges and risks are associated with the launching of new venture such as high amount of competition, lack of funds, lack of human capital and experience, diversified market conditions and behaviour of customer’s etc. It has negative impact upon the working of venture successfully and accomplishment of the targets within stipulated period of time. Dream Delicious restaurant is a new venture which is going to launch in London market in UK (Baron and Tang, 2011). In the present report explain about, identification of the target market and competitive analysis, determination of the specific tangible and intangible resources necessary to launch new venture, formulation of credible proposal to launch a venture, skills and capabilities which are required to successfully start new business and different promotional activities and channels which are important to advertise their offerings in market. Also, development of the promotional plan before an after the launch of venture, formulation of cash budget pre and after launch and legal form of venture. TASK 1 P1 Identification of specific target markets and competitive analysis Dream Delicious is a restaurant which is decided to launch in London market with multiple cuisines. There are large number of different dishes and services are provided by restaurant to attract customers such as Thai, Spanish, Chinese, Continental, Sea food etc. The idea to launch a new restaurant is most preferable option because it is observed that large number of people liked to have their dinner in restaurant. The most preferable place to locate the restaurant is near to London Eye which is popular tourist destination and large number of tourists are visit there on regular basis. This situation is beneficial for new restaurant is to effectively survive in the market through providing their different offerings.
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