{"id":125344,"date":"2023-11-17T11:40:28","date_gmt":"2023-11-17T11:40:28","guid":{"rendered":"https:\/\/learnexams.com\/blog\/?p=125344"},"modified":"2023-11-17T11:40:29","modified_gmt":"2023-11-17T11:40:29","slug":"2024-unit-19-pitching-for-a-new-business-assignment-2-distinction-business-plan-for-a-viable-micro-business-start-up","status":"publish","type":"post","link":"https:\/\/www.learnexams.com\/blog\/2023\/11\/17\/2024-unit-19-pitching-for-a-new-business-assignment-2-distinction-business-plan-for-a-viable-micro-business-start-up\/","title":{"rendered":"2024 Unit 19 Pitching for a new Business &#8211; Assignment 2 (DISTINCTION*) Business plan for a viable micro-business start-up"},"content":{"rendered":"\n<p>This essay is for Unit 19 Pitching for a new Business Assignment 2. This work covers all of the criteria required to achieve distinction as well as the correct structure and layout needed to reach these high grades (please have a look at the previews). Just follow the content, it will save you time and help you easily achieve distinctions. Criteria covered: P3 Explain your marketing plan for a selected micro-business \/ P4 Explain how legal and financial aspects will affect the start-up of the business \/ M2 Analyse the financial and marketing plans for your micro-business. \/ D2 Evaluate your plan for a micro-business and justify your conclusions.<\/p>\n\n\n\n<p>Unit 19 \u2013 Pitching for a new Business<br>Assignment 2<br>Student: John Price<br>Market analyses and planning\u2026\u2026\u2026\u2026\u2026.\u2026\u2026\u2026..\u2026\u2026\u2026\u2026\u2026\u2026.\u2026.\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026..\u2026\u2026\u2026\u2026.\u2026\u2026\u2026\u2026.\u2026.\u2026.\u2026\u2026\u2026..2<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Target market<\/li>\n\n\n\n<li>Primary and secondary research<br>Business environment\u2026\u2026\u2026\u2026\u2026\u2026..\u2026\u2026..\u2026\u2026\u2026\u2026\u2026.\u2026.\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026.\u2026\u2026\u2026\u2026\u2026\u2026.\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026..\u2026..7<\/li>\n\n\n\n<li>PESTEL<\/li>\n\n\n\n<li>Porter 5 forces<\/li>\n\n\n\n<li>Unique selling points<br>Marketing mix\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026..\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026.\u2026\u2026\u2026\u2026\u2026.\u2026\u2026..\u2026\u2026\u2026\u2026..9<br>Legal aspects\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026..\u2026\u2026\u2026\u2026\u2026\u2026\u2026..\u2026\u2026.\u2026.\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026..\u2026\u2026\u2026..\u2026.10<\/li>\n\n\n\n<li>Consumer protection legislation<\/li>\n\n\n\n<li>Employment legislation<\/li>\n\n\n\n<li>Health and safety legislation<\/li>\n\n\n\n<li>Data protection legislation<\/li>\n\n\n\n<li>Environmental protection legislation<br>Financial aspects\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026..\u2026\u2026\u2026\u2026\u2026\u2026\u2026..\u2026\u2026.\u2026.\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026..\u2026\u2026\u2026..\u2026.11<\/li>\n\n\n\n<li>Pricing policy<\/li>\n\n\n\n<li>Sales forecasts<\/li>\n\n\n\n<li>Break-even forecast<\/li>\n\n\n\n<li>Cash flow forecast<\/li>\n\n\n\n<li>Statement of financial position<\/li>\n\n\n\n<li>Capital structure<\/li>\n\n\n\n<li>Income statement<br>Evaluation\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026.\u2026\u2026\u2026\u2026\u2026.\u2026\u2026\u2026.\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026.\u2026\u2026..\u2026.15<\/li>\n\n\n\n<li>SWOT analyses<\/li>\n\n\n\n<li>Liquidity analysis<\/li>\n\n\n\n<li>Profitability analysis<\/li>\n\n\n\n<li>Sensitivity analysis<\/li>\n\n\n\n<li>Conclusion<br>Bibliography\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026.\u2026\u2026\u2026\u2026\u2026.\u2026\u2026\u2026.\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026.\u2026\u2026..\u2026.17<br>1<br>Stuvia.co.uk &#8211; The Marketplace for Revision Notes &amp; Study Guides<br>Downloaded by: johnprice | miltiadis.lst@gmail.com<br>Distribution of this document is illegal<\/li>\n<\/ol>\n\n\n\n<p>learnexams &#8211; The Marketplace for Revision Notes &amp; Study Guides<br>Market analyses and planning<br>P3: Explain your marketing plan for a selected micro-business.<br>Target market \u2013 Taobao UK is operating in e-commerce sector. To identify the company\u2019s target<br>market, it is a good idea to look at the biggest competitors. This is<br>because the business operates in the same sector therefore their<br>target market is similar. A good business which have very similar<br>functions are eBay and Amazon \u2013 both companies have<br>comprehensive online stores that offer millions of products. Based<br>on this information we can establish the target market of Taobao<br>UK:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Expectation \u2013 Customers will expect to have reasonable<br>delivery times, meaning that they don\u2019t have to wait too long for their items to arrive. However,<br>because the prices offered on Taobao UK are much lower compared to competitors like eBay<br>consumers would be more willing to wait longer for their delivery. Further it is very important for<br>the consumer satisfaction to have reliable and safe delivery service. Customers want to know exactly<br>when they are going to receive their item and that it won\u2019t be damage. Statistics show that discounts<br>and promo cods can be expected in this type of business.<\/li>\n\n\n\n<li>Shopping habits \u2013 Over 36% of consumers undertake research to find the best price on the<br>products (Edwards, 2018). This is good news because Taobao UK will be able to undercut all the<br>other competitors because the company is shipping the products straight from china which allows<br>consumers to benefit from the low prices in Asia. Now more than 50% of the online shoppers use<br>mobile devices like phones and tablets to make their purchases. This means that Taobao UK has to<br>have mobile phone compatible website, it also can be beneficial to create an app that consumers<br>can install on their mobile devices. Research suggests that coupons are another way to attract<br>consumers because people like to believe that they are saving money. Research suggest that more<br>than 80% of consumers are willing to shop online when there is free shipping provided, it can be<br>beneficial for the business to provide free shipping and slightly increase the product prices to<br>compensate for this.<\/li>\n\n\n\n<li>Demographics and segments \u2013 Research<br>the eBay\u2019s and Amazon\u2019s I found males are more<br>likely to shop online then females (refer to graph<br>1). This means that Taobao can focus on products<br>that are targeted more from man as this will<br>reach more consumers thus increasing the sales.<br>Because most people shop online nowadays it is<br>very hard to identify specific market<br>demographics. However, because the products<br>offered are low priced it is likely that Taobao UK<br>will attract consumers that are price oriented. This means that the business will be targeting lower<br>income individuals who are looking on saving.<br>2<br>Downloaded by: johnprice | miltiadis.lst@gmail.com<br>Distribution of this document is illegal<\/li>\n<\/ul>\n\n\n\n<p>learnexams- The Marketplace for Revision Notes &amp; Study Guides<br>Secondary research is often times free and easily accessible thus making it the best type of research<br>method for this business start-up due to the small budget. Further it tends to be more accurate as it<br>has larger samples.<br>According to the Office of National Statistics in 2017 the gross sales over websites for all business<br>was \u00a3586.3 billion. This is<br>\u00a380 billion more compared<br>to 2016 total sales which<br>was \u00a3506.3 billion<br>[ CITATION Eco18 \\l 2057 ].<br>The figures clearly indicate<br>that people are buying and<br>selling online exponentially<br>each year. This is good news<br>for Taobao UK as it indicates<br>that the market is growing<br>and with it the potential<br>customer base. On the other<br>hand, it also means that<br>there is a saturated<br>competition in the ecommerce sector which can<br>make it hard for the<br>company to stand out.<br>However, the business has<br>some strong USPs together<br>with the right marketing mix<br>shout be able to get<br>recognised by the<br>consumers.<br>Primary research<br>For my primery research I<br>decided to create the survey<br>3<br>Downloaded by: johnprice | miltiadis.lst@gmail.com<br>Distribution of this document is illegal<br>Powered by <strong><a href=\"https:\/\/learnexams.com\/search\/study?query=aqa\" target=\"_blank\" rel=\"noopener\">https:\/\/learnexams.com\/search\/study?query=aqa<\/a><\/strong><\/p>\n\n\n\n<div data-wp-interactive=\"core\/file\" class=\"wp-block-file\"><object data-wp-bind--hidden=\"!state.hasPdfPreview\" hidden class=\"wp-block-file__embed\" data=\"https:\/\/learnexams.com\/blog\/wp-content\/uploads\/2023\/11\/2024-Unit-19-Pitching-for-a-new-Business-Assignment-2DISTINCTION-Business-plan-for-a-viable-micro-business-start-up.pdf\" type=\"application\/pdf\" style=\"width:100%;height:600px\" aria-label=\"Embed of 2024-Unit-19-Pitching-for-a-new-Business-Assignment-2DISTINCTION-Business-plan-for-a-viable-micro-business-start-up.\"><\/object><a id=\"wp-block-file--media-49a51362-1167-437c-b568-b747e84446b8\" href=\"https:\/\/learnexams.com\/blog\/wp-content\/uploads\/2023\/11\/2024-Unit-19-Pitching-for-a-new-Business-Assignment-2DISTINCTION-Business-plan-for-a-viable-micro-business-start-up.pdf\" target=\"_blank\" rel=\"noopener\">2024-Unit-19-Pitching-for-a-new-Business-Assignment-2DISTINCTION-Business-plan-for-a-viable-micro-business-start-up<\/a><a href=\"https:\/\/learnexams.com\/blog\/wp-content\/uploads\/2023\/11\/2024-Unit-19-Pitching-for-a-new-Business-Assignment-2DISTINCTION-Business-plan-for-a-viable-micro-business-start-up.pdf\" class=\"wp-block-file__button wp-element-button\" aria-describedby=\"wp-block-file--media-49a51362-1167-437c-b568-b747e84446b8\" download target=\"_blank\" rel=\"noopener\">Download<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>This essay is for Unit 19 Pitching for a new Business Assignment 2. This work covers all of the criteria required to achieve distinction as well as the correct structure and layout needed to reach these high grades (please have a look at the previews). Just follow the content, it will save you time and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[25],"tags":[],"class_list":["post-125344","post","type-post","status-publish","format-standard","hentry","category-exams-certification"],"_links":{"self":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts\/125344","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/comments?post=125344"}],"version-history":[{"count":0,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts\/125344\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/media?parent=125344"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/categories?post=125344"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/tags?post=125344"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}