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Assignment for Unit 19 Assignment 2
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Unit 19 Assignment 2 - Pitching for a New Business
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BUSINESS UNIT 19: ASSIGNMENT 2By Jonny Ross (Student no. 761801)
BUSINESS PLAN for Soapranos:
P3: Explain your marketing plan for a selected micro-business:
Aims and Objectives of Soapranos:
Aim: The aim for Soapranos will be to understand what my customers’ wants
and needs are as this will be paramount to the success of Soapranos. Without
customers input it will be harder to understand what current customers and
potential clientele want and in turn, not deliver a good service for them.
Objective: In the first few months of operation for the business, an objective
will be to gain at least 20% of people within the boroughs of Westminster, the
City of London, Tower Hamlets, Hackney, and Islington to start using the
service. This allows customers to test the app and website, which areas
customers are ordering from, what services these customers are using as well
as feedback on what ways Soapranos as a service could be improved.
Aim: Another key aim for Soapranos will be to build customer loyalty. This will
be done by offering discounts such as exemption from the peak-time levy for
regular customers and free delivery for new customers.
Objective: As the business grows, an objective will then be to expand
operation to outer London boroughs.
As there is no current competitor in the particular segment of the market to
Soapranos, there is no data from rivals in the market. However, these current
aims and objectives are different from other competitors in the on-demand
services market because they are bold, forward-looking, and ambitious.
Market Analysis and Planning
Target Market
Soapranos’ target market is aimed at a niche market because the service
Soapranos offers is used for a particular need. Customers can access services
through an app or our website available online. This allows them to book the
service they require (whether it be dry cleaning or laundry), what time they
,wish for their clothes to be taken to be cleaned and returned, and all this being
done whilst people don’t have to leave their homes.
I have carried out secondary research which scrutinises similar businesses in
the on-demand services market which has records about them online.
Companies like Just Eat and Deliveroo offer a similar service to mine, albeit
with food. Having looked at their target demographic was, I have decided I
should be able to match their target market as the companies are known to be
competitive. The advantage of having looked at this research was that I now
have information of possible rivals and I now know they work in the same way
that Soapranos does. I shall be aiming to target a demographic close to theirs.
However, the stumbling block to this is that if I target their target market, it
could come at major expense, meaning Soapranos will not make as much
profit as the company should make.
The target demographic I have chosen to target is busy professionals aged
between 18-45. I have chosen to target this particular demographic because
the majority of people in this age bracket will be the ones using Soapranos. My
competitors’ results suggested that the largest number of clients using their
services are 16–40-year-old adults, meaning I have matched their target
market. Because there is no clear gender goal or no big social message to the
company, I assume both genders will use Soapranos. The amount of income
required to use Soapranos won’t be that much as the particular target market
will be able to afford to buy my services easily. The social class and profession
will have not a big effect on whether any particular individuals are buying
Soapranos’ services and as well as this, it would make sense if teens moving to
London for studying would use my services as well as they are technologically
astute, don’t have much time as they will either be working or studying and
most services students buy are now bought online.
As mentioned earlier in my aims and objectives, I am looking to base my target
market in the London boroughs of Westminster, the City of London, Tower
Hamlets, Hackney, and Islington. Should the initial first few months of
operation be successful, I will be seeking to expand the business to all London
boroughs as well as possible further expansion into university cities in the UK.
Market Research
Secondary research
,I used data online to conduct my secondary research, helping identify the
needs of my target market. I managed to find out that most delivery services’
target market is young people. Young people are a demographic which
constantly change preferences. For example, usage with on-demand food
delivery services such as Just Eat, Deliveroo and Uber Eats is popular amongst
young people as they would prefer to order in rather than eat out at
restaurants. What makes them attracted to these services is that it is easier to
pay and there is a wide variety of restaurants and food outlets to choose from.
Part of my target market will be smartphone users because people order on-
demand services mainly from their phones. Having an app and an online
website will allow Soapranos to gather a larger audience and bring in more
customers.
Another fact I found from my research was that customers from my target
market don’t receive all their items from other on-demand services. I have
checked reviews customers left about Gorillas, a rival in the market, and
customers were not happy about missing items from their order. To avoid this
problem, as mentioned in my presentation patch when being asked a question
like this, items will be counted and checked before entering the warehouse
and will be counted and checked again by the sorting officers when leaving the
warehouse. This allows us to trace back items which may have been lost and
allows us to sort any discrepancies quickly. But the bottom line is that
Soapranos needs to avoid problems like this otherwise this could be
detrimental to the business’ success.
, Customers in general also like to have a wide variety of options available. By
selling my services on Soapranos’ website and app, it allows potential
customers to explore what sort of services we have to offer and lead to orders
being made. Without having a variety of options, customers are likely to
purchase their goods elsewhere. This means I must make sure customers’
wants and needs are satisfied, otherwise I risk losing customers to local
launderettes.
Primary research
I have conducted primary research to help identify my target market, what my
target markets’ needs are and how Soapranos intends to meet their needs.
I created an online survey and asked people who live in the boroughs I intend
to operate Soapranos in to complete it so I could identify what my target
markets’ preferences are. Below is one example response of a question I had.
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