State de nature of the business and what product or service it provides.
Assignment Brief
Business Plan: Organise British Fashion week at the O2 arena,London.
Business Plan: Part 1 (Max 300 words) (20 Marks)
1. Outline your new business venture
- State de nature of the business and what product or service it provides.
- State your USP and explain why your business would have a competitive adge.
1.1 Business Type
- Is your business a Partnership or a company formation? Explain why you have chosen this business model.
1.2 Research
- Reserch into the business service you have chosen; identify existing competitors.
- Illustrate using UK and local statistical data; marketing survey(Eg:ONS;Interbrand)Explain why you thing there is a demand or market for your service
Part 1:
Assessment Criteria:
- Knowledge and Understading: Explain thr different types of business structures and benefits of each.
- Abillity to conduct valid research
Points to consider:
- You should use information that you have learned in your introduction to business clases,along with information from the core textbook and other suggested reading material.
Business Plan: Part 2 [1400 words]
Part 2.1:
Apply McCarthy’s 4Ps and any other relevant models:
- Place: Conduct a location search for your business and identify your competitors within the areas.
- Products/Service: Describe in detail the product/service that the business will offer, illustrate with examples.
- Price: Apply three Pricing strategies you have learnt, illustrate with examples.
- Promotion: What marketing strategies will you adopt.Explain why you would use social media.
(40 marks)
Business Plan : Part 2.2
2.2 Employess/staff {You must have minimum of 3 & maximum of 7 employees 10 marks]
- Explain the job roles assigned to the business employees.Eg:role of the manager/s
- Explain the advantage &disavantages of having Zero-hour contract workers and Agency staff.
2.3 Customers/Clients
- Identify your customer target market.Who are your customer cohorts?
Part 2 : Assessment Criteria:
- Apply the 4Ps of marketing to any business situation
- Knowledge and Understanding Define the role that human beings play in the business environment.
- Knowledge and Undesrtanding; understand the basics of marketing and promotion and discuss the production and distribution process.
Points to Consider:
- You should use information that you have learned in your Introduction to Business classes,along with information from the core textbook and other suggested reading material.
Business Plan: Part 3 Future Plans (Max 300 words) (20 marks)
3.1 Should your business be successful, explain the business could expand in the future.Illustrate by giving examples, what strategies you would adopt to expand.
Part 3: Assessement Criteria:
- Intelectual ,practical ,affective and transferrable skills. Apply the 4Ps of marketing to any business situation.
Points to Consider:
Additional marks awarded for presentation layout and use of relevant graphs&Charts,images,data provided they help to illustrate the business plan.
Sample Answer
Business Plan: Organising British Fashion Week at The O2 Arena, London
Part 1 – Business Overview
Nature of the Business
This business venture aims to organise British Fashion Week at the iconic O2 Arena, London, showcasing the latest collections from UK and international designers. The event will provide runway shows, brand exhibitions, and networking opportunities for designers, retailers, media, and fashion enthusiasts. The business will operate as an event management service, specialising in high-profile fashion events.
Unique Selling Proposition (USP)
Our USP is the exclusive venue, the O2 Arena, which offers a unique blend of luxury, space, and accessibility. Unlike traditional fashion venues, the O2 provides superior capacity, state-of-the-art technology, and strong brand appeal. We also offer a hybrid event model (in-person + virtual streaming), widening access for global audiences and setting us apart from competitors.
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