¶ … role a business advisor a local business 'start-' consultancy company, asked provide a portfolio a potential customer requires advice start a business venture: ____ The Repot Task (1) How start a business venture a Fast Food takeaway Wolverhampton City UK (2) Using 'Marketing mix', develop a Marketing Strategy Fast Food takeaway Wolverhampton.
Fast Food Takeaway Venture
The modern day economic agents face incremental challenges from the industry and the market and they often require the assistance of business specialists in order to best respond to these emergent challenges (Boone and Kurtz, 2010). The fast food venture is to be opened in Wolverhampton City, UK and its success would be ensured by a full understanding of the industry and the market and the strategic adaptation based on company capabilities, industry features and market requirements (Brown, 2005).
The first step is represented by the thorough analysis of the market and the identification of the need for takeaway fast food products. The logistics issues must then be resolved and the resources need to be estimated and allocated. As these efforts are completed, the sale of the fast food products is projected to commence. In order for it to succeed however, it is essential for the firm to develop and implement a well-built marketing campaign which creates demand for the company and its products. The tool used in the construction of the campaign was represented by the marketing mix.
Finally, in order for the company and its operations to be sustainable within the long-term, it is recommended that the leaders of the firm continually assess the market and the industry in order to quickly adapt to the emergent challenges.
2. Introduction
Setting up new ventures is often a highly difficult task and it is generally useful to request the assistance of a group or an individual specialized in launching new ventures. Opening new business operations is a complex effort not only for the novice entrepreneur, but in fact for all entrepreneurs, especially if their concomitant expertise in the field of operation and the market they address is limited (Flick, 2008).
The business analyst comes to meet the needs of the new entrepreneur and supports his/her endeavors of setting up a new business. In the current instance, the client is looking to set up a new fast food takeaway venture. The current process offers input constructed with the aid of the specialized literature, but adapted to the needs of the entrepreneur and the selected market -- the customer base in Wolverhampton City, United Kingdom.
3. Launching the new venture
The specialized literature identifies a wide array of steps to be implemented in the launch of a startup organization. Rob Walling (2010) for instance militates for the need to launch a venture in a niche market and to control its sizes, whereas Rolf Sterberg (2009) militates for the need to adjust the venture to the specifics of the market to be addressed. Based on the analysis of the literature, as well as based on the specifics of the company and the market in which it would operate, the following four stages of development have been devised:
The research of the market (Iacobucci and Calder, 2002)
The addressing of the logistics issues (Chandra and Grabis, 2007; Dolgui and Proth, 2010)
The analysis and allocation of the resources (Cheverton, Foss, Hughes and Stone, 2005) and The eventual launch of operations (Kapoor and Kansal, 2004).
3.1. Market research
This stage consists of the identification of the need for fast food takeaway in the Wolverhampton City. The United Kingdom, unlike the United States, has historically been reticent to fast food products and it was only KFC that managed to successfully penetrate the British market in the 1960s decade. Gradually however, with the entry of Burger King and McDonald's, the population in the UK increased their consumption of fast food products. At a business level, fast food represents an attraction as it creates opportunities for franchising (Lashley and Morrison, 2000).
At the level of the population, this now consumes high amounts of fast food products, revealing as such a real need for the products to be sold by the new venture. Also, the modern day population is busier than ever and has less time to prepare meals in the households, and also less time to enjoy the meals in restaurants. This situation represents a context in which the need for the takeaway fast food products is increased. And this is true even more so in Wolverhampton, which is an educational center filled with busy students who enjoy fast food products.
3.2. Logistics considerations
Logistics is traditionally understood as the totality of functions of design, planning, handling and control of information, materials and...
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