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  2.  
  3. PEARSON (PEARSON)
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  5. Business 2016 NQF
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  7. Unit 19 - Pitching for a New Business

Essay

Business plan
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  • Vak
  • Unit 19 - Pitching for a New Business
  • Instelling
  • PEARSON (PEARSON)

This document will help you with your taking the BTEC national business level three extended diploma in business unit 19 pitching for a new business as this is a very detailed business plan that will also help you for learning learning aim c of the assignment. It will give me the solid foundations ...

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Document informatie

  • 7 juni 2024
  • 48
  • 2023/2024
  • Essay
  • Onbekend
  • A+

Onderwerpen

  • marketing
  • usp
  • sales
  • differentiation

Geschreven voor

  • BTEC
  • PEARSON (PEARSON)
  • Business 2016 NQF
  • Unit 19 - Pitching for a New Business
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Verkoper

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charliebyrne

Voorbeeld van de inhoud

UNIT 19 PITCHING FOR A NEW
BUSINESS LEARNING AIM B&C




Charlie Byrne (638250)
[COMPANY NAME] [Company address]

,Contents
Demonstrate individual responsibility and effective self-
19/C.D3 management in the preparation, delivery and review of the
presentation of a high-quality pitch.
Analyse the financial and marketing plans for your micro-
19/B.M2
business.
Effectively present an individual pitch to negotiate funding for
19/C.M3 a micro-business start-up analysing audience feedback and
viability issues.
19/B.P3 Explain your marketing plan for a selected micro-business.
Explain how legal and financial aspects will affect the start-
19/B.P4
up of the business.
19/C.P5 Pitch for funding to start up a micro-business.
Review the viability and risks of the start-up using audience
19/C.P6
feedback.




Introduction:

In this assignment today's rapidly evolving business landscape, the ability to effectively pitch
for a new business venture is paramount to success. As part of Unit 19, Assignment 2, we
delve into the business plan, a critical skill for entrepreneurs, innovators, and business
professionals alike. This assignment serves as an opportunity to refine our pitching skills, hone
our communication strategies, and showcase our vision for a new business venture. Through
rigorous preparation, strategic planning, and compelling storytelling, we aim to captivate
potential investors, partners, and stakeholders, ultimately securing the support and resources
necessary to bring our entrepreneurial vision to life. Join us on this journey as we navigate the
intricacies of pitching for a new business venture and strive to make a lasting impression in
the competitive marketplace.

1

,P3: Marketing Plan for the Home of Technology:

Aims and Objectives:

Aim: aims to prioritize understanding customers' wants and needs to ensure its success.

Objective: Within the initial months, the goal is to attract at least 20% of residents to use the
service, enabling feedback collection and service improvement from Bromley and Croydon
to establish the needs and wants of customers and to get a better understanding of the
market

Aim: Another aim is to foster customer loyalty through incentives like discounted prices

• These aims and objectives differentiate The Home of Technology from competitors in
the on-demand services market due to their bold and ambitious nature, especially
considering the absence of direct competitors in the same market segment within in
the local area as they do not focus on the same segment which is our USP

Competitive analysis

The technology support sector is fiercely competitive, with numerous major competitors
competing for market dominance. Geek Squad, a Best Buy subsidiary that provides a variety
of tech support services such as troubleshooting, repairs, and installation assistance to both
people and businesses, is one of the key rivals. Geek Squad benefits from Best Buy's vast
store presence, which makes it easy for customers to receive their services.
Support.com, which offers tech support solutions to both individuals and companies, is
another key rival. They provide services including remote technical help, malware
eradication, and gadget setup assistance. Support.com has established a reputation for
providing dependable and speedy support, attracting consumers seeking help with a variety
of technical concerns.

Furthermore, corporations such as IBM and Accenture compete in the technology support
market by providing full IT consulting and support services to enterprises globally. These
organisations use their experience in technology and consulting to give specialised solutions
to their clients, which range from infrastructure support to software creation and
deployment.
Additionally, there are smaller businesses and individual professionals that provide tech
support services locally or online. These people and small businesses frequently specialise in
specialist areas or cater to specific consumer demands, offering personalised assistance
with a variety of technology-related difficulties.

the technology support sector is dynamic and ever-changing, with competitiveness
determined by aspects such as service quality, cost, and innovation. Companies that can

2

, successfully answer client requirements and adapt to evolving technology are well
positioned.

Market research
Secondary
As of recent data, the global market size of the IT support industry is substantial, with
estimates often exceeding billions of dollars annually. For example, according to a report by
Grand View Research, the global IT support services market size was valued at around $232
billion in 2023. This figure is projected to witness significant growth over the forecast period,
driven by factors such as increasing digitization across industries, the proliferation of cloud
computing, and the growing complexity of IT infrastructure.



Similarly, another report by Market Research Future estimates the global IT support services
market to reach a value of approximately $364 billion by 2026, with a compound annual
growth rate (CAGR) of around 7.8% from 2020 to 2026. These estimates reflect the
industry's healthy development trajectory as well as the expanding global need for IT
support services.

Furthermore, there are geographical differences in the global IT support services market,
with North America typically being the dominating market due to its strong technical
infrastructure and broad use of IT solutions across multiple industries. However, emerging
Asia-Pacific economies, such as China and India, are experiencing rapid growth in the IT
support industry, driven by factors such as increased investments in technology
infrastructure, rising internet penetration, and the expansion of digital initiatives in sectors
such as e-commerce, healthcare, and finance.

what does the following market research mean.

This clearly suggests that there is a chance to exploit this opportunity as when I conducted
my market research this suggests that they struggling to adapt to the new technology that
keeps advancing year on year this help me to discover how I best support my target
demographic. They may benefit from one-to-one sessions that will build their confidence.
However, this can be very time consuming because there are lot of key players however
there is a gap within in the local because we are specifically targeting the disability and
elderly population.
What is my USP?
that I have considered doing is a pop-up tech shop that offers people that do not know how
to use technology the option to become more tech savvy and developing the understanding
on how to use them. This is because in the world we live in today everything is moving



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