Table of Contents

Executive summary. 3

Introduction. 4

Originality of marketing strategy. 4

Marketing strategy. 4

Market growth strategy. 4

Identification of operational issues. 5

Accurate financial projection. 6

Material risk and their mitigation. 17

References. 19

Executive summary

The project includes business plan of an Eco friendly sanitizer company, which is to be opened in India. The project also includes the strategies, growth, operational issues, identification of resources required, and identification of material risk and its mitigation and even financial projection of the company regarding its set up in India. The company will work for more new product in the prevalent company. The company is prevalent in UK and now it wants to spread in India.  The project also deals with prospectus of business and also to monitor the progress and also to identify the strength and weakness of the plan.

Introduction

Business plan is a written document prepared by the entrepreneur that describes all the relevant external and internal elements involved in starting new venture. Business plan is an integration of functional plans like marketing finance, human resource plan and manufacturing. It is a blue print of the processes that should be followed to turn the business into a profit zone. This plan helps in monitoring the progress of the business and also to evaluate the prospect of the business.

Originality of marketing strategy

Marketing strategy

Marketing strategy is the goal of increasing sales and achieving a desired result. This strategy includes all basic, as well as short term and long term activities in the field of marketing that deals with the analysation of the strategic initial situation of the company as well as formulation and evaluation of the selected market and contribute to the goals of the company and its marketing objectives.

The Eco Friendly Sanitizer Company is already present in London Ilford Essex, London, the business holder wants to spread the company in India and wishes its product to be successful in the country. The business offers an eco friendly sanitizer product for a food company which will help the company in more and safe production. The market must be surveyed well before pricing the product; it should also be demanded in the market. The sanitizer may be priced less at the beginning and then priced high as per its demand in the market. The business can have its head office in Delhi and can operate from there to promote the product within the country. The business needs to be promoted well so that the business can get success. A marketing strategy is generally about determining an adequate balance between all the points mentioned above.the business will be more successful in populated area and most important is the location. As per the survey it is found that the competition is high then better advertising and proper pricing is needed.

Market growth strategy

The company should follow Ansoffs growth strategy for market growth.

1. Market penetration– It includes selling of more and more established products into existing markets, often by increased promotion, price reduction and for better routes to market.
2. Product development- It involves development of new product and services and selling the product in the new targeted market.
3. Market development- market development involves entailing existing products and services and selling them in the market and also targeting different and new market segments to promote the produce in the market.
4. Diversification- in this process a new product is developed and is placed in the market at the same time. It is one of the most risky strategies as more the product is diverse more it is difficult to target a particular market. It generally means expanding the business into areas  outside its chief activities and targeting whole new audience. The business also needs to bear the cost of the new product which is developed by the company.

Identification of operational issues

Before a product gets well promoted in the market, the company faces various issues regarding the promotion of the product and those issues should be very well taken care of:

Message Selection- to promote a product in the market, the product should convey a proper message to its customers so that it can reach its targeted audiences in the market.  Message selection is the most important part in promoting a product. The appeals should be consistent with taste, wants and attitudes in the market.

Media selection- There is a large difference in availability of various data across the country. The media should be choosing as per its coverance, cost, and availability. The media generally chosen are radio, television, press, cinema, posters, direct mail, magazines etc. but the issue regarding the promotion with this media is the reach and coverance of these Medias as well as the amount which is invested in it. Many people may not have access to one or the other or they may not be able to understand the message spread through the one or the other medium.

Campaign scheduling- holding campaign for a single product at different places is not possible for every company, especially if handled alone without any help of an agency. The use of media is also an important question which should be considered while conducting a campaign.

Evaluation- organizing campaigns is not always easy for every company. The evaluation based on sale through should be marked out properly and then should be taken into consideration.

Accurate financial projection

Projected Balance Sheet

 Inference: From the balance sheet it can seen that total current assets amounts to $268,029.72, current liabilities amounts to $84,002.87 and total capital is seen as $184,027.94. This all assets and liabilities amounts net worth at $184,027.94.

Projected profit and loss

Material risk and their mitigation

Risk assessment is a process to find out the potential hazards of the company and analyze what could be the result if hazard occurs. A business impact analysis is the procedure for determining the impacts resulting from the interruption of time sensitive and other issues.

Risk mitigation is a way to identify and assess the company risk and taking actions to protect a company against them. Sometimes risk is defined as the possibility that a future occurrence may cause harm or losses and also provide possible opportunities.

Types of risks:

1. Business risks- it is associated with the organization in particular as well as other industry.
2. Market risk- associated with changes in market
3. Credit risk- it is associated with potential and for not making payments owned by debtors.
4. Operational risks- it is associated with internal system failures because of mechanical problems as well.
5. Legal risk- it is associated with the possibility of other parties as not meeting their contractual obligations.

Risk mitigation methods

The risk mitigation managers depend on various methods to avoid and mitigate risks in an effort to help reducing the risks. The main four chief methods of risk mitigation include exposure of risk avoidance, loss reduction, loss prevention, and risk financing. A simple method of risk mitigation is avoidance which means avoiding services, products and business activities. Loss prevention helps to root out the core loses by implementing various strategies.

Risk mitigation methods

The risk mitigation managers depend on various methods to avoid and mitigate risks in an effort to help reducing the risks. The main four chief methods of risk mitigation include exposure of risk avoidance, loss reduction, loss prevention, and risk financing. A simple method of risk mitigation is avoidance which means avoiding services, products and business activities. Loss prevention helps to root out the core loses by implementing various methods. Loss reduction seeks to minimize the effects of risks through response system that neutralize the effects of a disaster (D’Addario, 2013).  The final option of managing risk is to finance risk, paying for them either by retaining or transferring their costs. The company can also reduce the risk factors by keeping proper fire alarm in a company and avoiding keeping the explosive materials in the company. If there is no hazardous materials in the company no spoil of hazardous material would occur would and the risk of catching fire would also be less (Mitre, 2015). People should maintain a healthy work environment so that everyone can enjoy a proper working environment. The computers should be maintained properly so that the cyber attacks become less and the technology should be maintained too.

References

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Businesscasestudies, (2015) Business Case Studies – Teaching business studies by example [online]. Available from: http://businesscasestudies (Accessed 8 August 2015).

D’Addario, F. (2013) Influencing enterprise risk mitigation. Oxford: Elsevier.

D’Addario, F. (2013) Influencing enterprise risk mitigation. Oxford: Elsevier.

Ferrell, O. & Hartline, M. (2005) Marketing strategy. Mason, Ohio: Thomson/South-Western.

Forsyth, P. (2002) Business planning. Oxford: Capstone Pub.

Howes, N. (2001) Modern project management. New York: AMACOM.

Keillor, B. & Wilkinson, T. (2011) International business in the 21st century. Santa Barbara, Calif.: Praeger.

Kumar, D. (2010) Enterprise Growth Strategy. Farnham: Ashgate Pub.

Mitre, (2015) The MITRE Corporation [online]. Available from: http://www.mitre (Accessed 9 August 2015