Feedback for planning new business venture Assignment Help Australia

Analyse gaps In The Market For Potential Products 2.2 Analyse gaps in the market for potential products Indicative content Gaps 

For the new products or services

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Emerging trends e.g. due to aging population, as a result of new technology

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Changing requirements

You are not answering this question it seems like an attempt to answer 2.3 Here you have failed to show there is a gap in the market for you restaurant, you need to show there is a gap in the market for you restaurant. You have still not done this 2.3 Analyse target markets for a business venture Indicative content Target markets 

Socioeconomic

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Age

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Gender

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Occupation

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Sources of finance

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Special factors

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Personality indicators

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Geographical

Here again as above you have failed to show there is a gap in the market for you restaurant, you need to show there is a gap in the market for you restaurant. You have not covered everything from the indicative content and you are still failing to show there’s a gap in the market for this product.

3.2 Interpret external factors to justify need for your business product

Indicative content 

External factors

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PEST (political, economic, social, technological)

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Gap analysis

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Market conditions

Here the external factors discussed do not justify the need for your business product You are speaking about hummas and halal and nonhalal food which has no relevance to this.

Your restaurant serves every cuisine so this has does not justify anything 3.3 Specify the business product to meet needs Indicative content Specify 

The product e.g. details, dimensions, purpose, longevity, target market, international or national market, pricing, distribution and marketing

Here as above the external factors discussed do not justify the need for your business product You are speaking about hummus and pitta bread which has no relevance you been asked to specify the product meets the needs. Why would the market need this? How does this meet customers needs? There are thousands of shops that sell hummus and pitta bread this product would not meet the needs of many customers you have no backing for this information you have provided.

3.4 you have changed one word and written tall structure the rest of the content you have matches the description of a flat structure because you have not changed it.

3.5 Produce business planning forecasts based on targets Indicative 

Forecasts

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Financial forecasts

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Physical forecasts

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Sales forecasts

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Short and longer term

You have produced forecasts but they are really not justified in any way. What is the rent charged on Oxford street, how much space do you need for customers, playareas and back of house operations? How much does labour cost in central London? How many workers will you employ, for how many hours. What is the throughput of customers estimated at. Where is this information? You have still not added this in its still the same from the previous submission

3.6 Identify business responses if targets not met Indicative content 

Business responses

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Use of contingency funds

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Closure

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Insolvency and bankruptcy

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New markets

Lacks credibility NO changes made 4.2 Present documentation to support your pitch You have still not changed this Indicative content Present documentation 

Vision and aims

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Needs and target market

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Business systems

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Forecasts

This Lacks the necessary detail in many places you have still not changed this The learner has failed to many different reasons I suggest you go back and make sure you have covered the indicative where its missing, you will also need to look back at the assignment brief you can see all the tasks link in together and some tasks are asking you to write a formal report others are asking you to produce a pitch for your business plan ect.

When making changes you must do your research properly and produce it on a new document.