Unit 28: Launching a New Venture Assignment Sample on resource and skills assessment, promotional planning, budgeting, and start-up sustainability.
The paper aims to highlight the key issues being faced while starting up a new venture for which a reference has been made to a British Startup. It includes and assesses the physical and non-physical assets that are needed, and specifies the necessary competencies for the entrepreneur. It also provides the pre-and post– launching financial projections, as well as suggests the promotion mix based on the four Ps of marketing. Thus, in broad terms, the study seeks to give a clear and feasible picture of how new venture creation can be carried out successfully.
Reference materials and sample papers are provided to clarify assignment structure and key learning outcomes. Through our assignment writing service UK, guidance is reflected while maintaining originality and ethical academic practice. The Unit 28: Launching a New Venture Assignment Sample highlights business planning, market analysis, and strategic decision-making involved in launching a new venture. These resources are intended solely for study and reference purposes.
For this task, we will investigate and design the launch of a new venture based on Innocent Drinks, a British company that produces and sells healthy smoothies and juices. It is important to identify shared capital requirements for a startup in healthy beverages as well as the various tangible and intangible resources that can be required for this type of business.
To establish such a venture, some key physical assets are crucial in this case are highlighted below: Some of these include blenders, bottling lines, refrigeration units, and vehicles used in transporting the products. Recruitment of a good production site as well as funding for procuring food, employees, and advertising expenses is also essential (Jancenelle, 2021). These have to be subjected to costs, extending their utility, how effective they are, to enhance feasibility. On the other hand, the intangible resources are also significant in formulating the rightful positions of the brand and achievement of sustainable goals. These include the business’s trademark that includes recipes and other unique possessions, brand image that customers hold in esteem and customer’s benevolence that results from factors such as ethical procurement. On the same note, the management of supply and distribution channels and the knowledge of consumer behaviour contribute to supplier strength and distributor strength respectively (Silva and Oliveira, 2020).
When considering the legitimacy of tangible and intangible resources to support the start-up of a business such as Innocent Drinks, it is crucial to understand how much these resources would cost and their quality compared to the feasibility of using them in a start-up organization. Equipment needed for production, packaging raw materials transportation equipment, and logistic equipment and facilities that any company may require for its production and distribution are available either through local UK suppliers or acquired through leasing. However, their costs can be high, thus an essential aspect is identifying highly scalable and energy-efficient equipment that will be useful in the long run and serves the purpose of sustainable development. Other possible solutions may be more available from shared manufacturing facilities or contract packers that may be viable at an earlier stage (Guesalaga et al., 2018). These considerations are in line with Unit 28: Launching a New Venture, which emphasises evaluating both tangible and intangible resources for feasibility and scalability.
In this case, any unique recipes can be created in-house while legal rights such as trademarks can be obtained through the UK Intellectual Property Office. Marketing a brand, and gaining a reputable image thereof, however, calls for continued processes, adherence to ethical practices, and customer relations. Some assets such as brand image and customer base cannot be measured through conventional metrics but they are indispensable when it comes to competitive advantage and sustainability. It is also a result of the founder’s decision, ideas, and the possibility to attract branding professionals to the team. In general, the acquisition of tangible resources is quite clear while intangible resources need long-term strategic management effort but are no less important than the former. Both are achievable but the balance depends on the budget and objectives of the video game to be marketed for it to be effective and sustainable (Wasim et al., 2023).
Starting a new business requires several skills and development capacities to support your entire undertaking. To begin with, the most valuable skills include entrepreneurial and strategic mind-set to assess and define opportunities and make right choices when facing risks and ambiguities. It is also crucial to have excellent financial skills, as founders need to know about the budget, predict cash inflows and outflows, attract funding, and monitor the expenses.
Marketing and branding are very important for developing awareness, communication strategy and targeting the consumer. This entails understanding matters such as digital marketing, use of social media platforms as well as creating content. And not the least of course is the Moving Management where coordination of the supply chain involves planning for inventory, quality, and delivery (Shepherd, Souitaris and Gruber, 2020).
Leadership skills ensures that you put together a capable and motivated team while negotiating skills will be required when dealing with other parties like the suppliers, associate partners or customers. Adequate knowledge about the laws that apply to the operations of a business such as health and safety laws, data protection legislation, and intellectual property laws, is also necessary (Saarikko, Westergren and Blomquist, 2020).
Venture launch means that different skills and capabilities, which are interconnected and build up a set of competencies need to be assessed for the venture across the entire business life cycle. Strategic planning is a core competence that defines vision, mission, as well as business position in the market. These are supplemented by analytical and problem-solving skills that enable the handling of risks, analysis of competition, and decision-making based on analysis.
Financial literacy is another important concern in the facilitation of financial education since people need to understand financial tools and concepts. Every person who is running a business must be in a position to handle issues like budgeting and cash flows, investments, and cost control among others. For instance, when it comes to the preparation of a profit and loss account and concerning funding such as a grant or loan it is very important (Mamabolo and Myres, 2020).
Business expansion requires understanding the keys to the marketplace, selling techniques or customer relations. Thus, a few of these areas are digital marketing, SEO, branding, and customer relationship management. Using Google Ads or social networks increases the audience’s credibility of the show.
Logistics and supply chain, production and quality assurance capacities are also crucial in delivering goods or services that meet the needs of customers. At the same time, adequate leadership and team-building competencies give the founders tools to lead a variety of employees and motivate them to work more effectively and creatively, as highlighted in Unit 28: Launching a New Venture.
Lastly, one must make changes and be able to recover quickly in case of losses or changed market situations. The integration of these diverse capabilities forms a good platform for a venture not only to start but to genuinely work in a competitive world (Mayer-Haug et al., 2013).
An evaluation of the resources, skills, and capabilities shows that they influence the success of a new venture depending on their availability and relevance. Physical assets including equipment, premises, and funding are usually available in various ways in the UK through; grant funding, start-up loans, and co-working spaces. However, affordability and scalability are the two major issues; SAs should closely monitor the quality and price to prevent being locked into making inferior products when reasonable prices are within reach during the initial stages of a startup. Getting equipment on the lease or outsourcing the equipment needs may prove to be more flexible and may be more cost-effective.
Other assets that fall under this category include intellectual property, brand identity, and suppliers which are not easily bought. This means that IP registration is possible is possible but establishing a brand name and gaining customers’ trust requires time, and effort and implementing customer-oriented actions. These activities are strategic for the sustainment of differentiation and competitive advantage but cannot be achieved without continuous effort and investment (Jancenelle, 2021).
With regards to skills and competency, there are incubators, online platforms, and enterprise centres that can help the new generation entrepreneurial. However, those skills require practical experience for one to be able to apply them accordingly. There is a lack of skills gaps in many new founders where they may possess little or no actual working experience in line functions such as financial planning, marketing in the digital world, and compliance, among others.
Thus, it is clear that many resources and skills are available, but their applicability solely lies in the founder’s hands about the venture, objectives, and environmental factors for sustainability.
Showcase content on Instagram, Facebook, and TikTok with bonus material, brief teasers, and notable partnerships. It is also pertinent to use informative hash tagging such as #DrinkClean or #SipSmart to enhance equilibrium. Implementing some kind of interactivity to posts and offering prizes for the contests will make the audience more active (Si, 2024).
The main goal is to design an easily navigable website with information about the products and the brand as well as having an e-shopping cart feature. Conduct a pre-subscription campaign gladly a couple of free issues with the option to subscribe and get cheaper issues later. Incorporate the incorporation of the e-Newsletter into the marketing mix by using it to convey information on the products, promotions, and occurrences (Sanasi, 2024).
Offer free samples of the product in health food shops, health clubs and farmer markets where the major target market will be spotted. For the equalization of brand awareness and initial usage, the firm should use brochures and coupons.
Work with local fitness centres, yoga studios, and health food cafes to arrange cross-promotions. This increases its credibility and also introduces the product to a targeted customer.
Contact local newspaper and online food bloggers to share the information. Also, secure interviews or reviews in health magazines and pod casts to bring credibility of the product.
Evaluate engagement rates, sales conversion, customer sign-up rates, coupon redemptions, and website traffic to determine the effectiveness of each promotional tool (Fürst et al., 2023).
For the successful launch of a healthy beverage startup, the right promotional strategies need to be aligned with the 4Ps of the marketing mix, which are product, price, place, and promotion.
Product Promotion:
Communicate the benefits of using the brand’s products and services including use of natural raw materials and healthy recipes. The principle involves using attractive packaging and accurate labelling of the nutritional value of the product. Use demonstrations and success stories which would refer to the unique selling propositions as a way of making customers feel comfortable in making their purchases (Madhavedi et al., 2024).
Price Strategies:
Introduce it with attractive prices, special offers for multiple-purchases and first customers. Popular promotions such as “Buy 5, Get 1 Free” should be utilized in order to increase the chances of the customers repeating their purchases from the company again. So, it is appropriate to utilize price comparison to create a perception of value prop that is superior to those of competitors in social content.
Place-Based Promotion:
Organic food stores, gyms, and wellness cafés were considered as suitable distribution channels for shelf space and product demonstrations. The second way in which social media can be used to drive sales is through geo-targeted ads that can be used to guide people to specific outlets or pop-up stands (Wichmann et al., 2021).
Promotional Channels:
Employ both online and offline approaches:
Monitoring Tools:
Some of the popular and readily available KPIs that can be used to measure effectiveness and make the necessary adjustments after rolling out the promotion include engagement rates, coupon redemption rates, store traffic, and the number and frequency of repeat customers. These strategies reflect the guidance of Unit 28: Launching a New Venture, which stresses integrating the marketing mix to support venture success.
| Activity | Timeline | Objective | Key Metrics |
|---|---|---|---|
| Social Media Launch Campaign | Weeks 1–4 | Build brand awareness and generate excitement | Follower growth, engagement rate, shares |
| Influencer Collaborations | Weeks 2–5 | Leverage audience trust and widen reach | Referral clicks, influencer code redemptions |
| Email Marketing (Pre-Launch Sign-up) | Weeks 1–3 | Generate leads and early interest | Sign-ups, open rate, click-through rate |
| Sampling at Local Events | Weeks 3–6 | Direct customer engagement, product feedback | Samples distributed, feedback collected, sales |
| Google & Social Ads | Weeks 2–6 | Drive traffic to website and boost conversions | Ad impressions, click-through rate, conversions |
| Retail Partner Promotions | Weeks 4–8 | Boost in-store visibility and sales | Stock turnover, coupon redemptions, footfall |
| Press & PR Outreach | Weeks 1–5 | Build brand credibility and media coverage | Articles published, media mentions, website hits |
Target Timeline: Achieve 1,000 product trials, 500 email sign-ups, and 300 first-month sales within 8 weeks post-campaign launch.
| Category | One-Off Costs | Ongoing Costs (Monthly) | Anticipated Income (Post-Launch) |
|---|---|---|---|
| Equipment Purchase | £6,000 | – | – |
| Website & Branding | £1,500 | £50 (hosting/updates) | – |
| Marketing Campaigns | £2,000 | £800 | – |
| Salaries (2 Staff) | – | £2,500 | – |
| Raw Materials | – | £1,000 | £3,500 (Month 1), growing monthly |
| Rent & Utilities | – | £700 | – |
| Transport & Distribution | – | £500 | – |
| Total Monthly Costs | – | £5,550 | £3,500–£6,000 (estimated) |
| Category | Pre-Launch (3 Months Total) | Post-Launch (Monthly Avg) | Contingency Allocation (10%) |
|---|---|---|---|
| Equipment & Setup | £6,000 | £100 | £610 |
| Branding & Website | £1,500 | £50 | £155 |
| Marketing & Advertising | £2,400 | £1,200 | £360 |
| Staff Salaries | £6,000 | £2,500 | £850 |
| Raw Materials | £0 | £1,200 | £120 |
| Packaging & Labelling | £0 | £800 | £80 |
| Rent & Utilities | £1,500 | £700 | £220 |
| Transport & Distribution | £0 | £500 | £50 |
| Miscellaneous | £600 | £300 | £90 |
| Total Costs | £18,000 | £7,350/month | £2,535 reserve (avg) |
Conclusion
5 Years | MSc
In conclusion, to start a new venture, a clear combination of physical and non-physical assets, sound financial planning, and various promotion exercises ought to be employed. Budgeting, selling strategy, and resource assessment were among the crucial areas in the analysis of the elements prolonging a successful start-up establishment. Therefore, by positioning a venture’s resources, skills, and capabilities to meet the market needs, and using a cash flow plan with contingency measures, a good foundation for sustainable growth can be constituted. Proper utilization of promotional tools combined with the marketing mix assists in enhancing the visibility level and customer response.
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References
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