Business Development Assignment Sample

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Introduction

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The report follows the development of a business plan for a new business venture in the context of Eat & Fit. The market research, marketing strategy, products and services, value proposition, business overview, management and organisation, target market, funding requirements and financial summary- all these have been provided in this report. Using these areas, a proper business plan can be developed to enter a new market and get the desired success.

Opening a new business venture in a new market is very challenging and crucial. In this report these areas will be highlighted. The report focuses on how Eat & Fit will deliver its services to the Indian customers. The target market for the new business venture has also been described in the essay. Market research has been conducted to analyse the market trends and size of the market. It helps in analysing whether the structure is suitable for the present working condition of the place. The products and services, organisation and management, value proposition of the company, market research all these factors have been included. The main focus of the entire report is to analyse how the new market of India can be suitable for Eat & Fit with the help of the business plan.

Business overview

Eat & Fit being an online food delivery service is located in the UK. Eat & Fit was established in 2001 in Denmark. The headquarters of the company is in London. More than 13 countries are operated by this company to provide food using an online portal (See-Kwong et al., 2017). The customers in the platform of Eat & Fit can search for various local and domestic takeaway restaurants. The customers can place their orders of various food using the online platform of Eat & Fit and also, they can pay through online (See-Kwong et al., 2017). The total revenue collection of the company in 2018 was 779.5 million euro. More than 15000 employees worked in various stores of Eat & Fit.

The company tries to maintain the quality of the services and also the products. The vision of the company is to enhance and enlighten all the food moments for the partners and customers of the restaurants. The company aims to make the food moments of the customers encouraging. The company mainly follows three principal values including leading, delivering and caring. These values have developed satisfaction and loyalty of the customers towards a Eat & Fit takeaway. Eat & Fit also delivers food to more than 90 million users across over 25 nations. The company also tries to increase its competitive advantage over the leading local and domestic brands (See-Kwong et al., 2017).

Market research

• Market research is important for any business organization. Market research is essential to learn more about the company’s new and old products, to develop new business strategies and to give business a new direction in the market. The daily needs of the customers and their changing needs can be informed by market research. Knowing the basic needs of the customers makes it possible for any company to setup such a business strategy.
• Eat & Fit takeaway is a hyperlocal market place that connects customers to restaurants. With the online food ordering service Eat & Fit spread across a wide area in a very short time, with 580,000 local restaurants already connected to the Eat & Fit platform and customers can order delicious food from local restaurants of their choice through this platform (See-Kwong et al., 2017). When the Eat & Fit platform plans to open its own branch to India, Eat & Fit could expand to India in a few days. Proper market research is the essential for the expansion for this platform in India (Thamaraiselvan et al., 2019).
• Online food ordering is a very effective and profitable business in today’s society. If Eat & Fit Services wants to expand their online platform in India, they must first consider how long the platform will last in the Indian market (Thamaraiselvan et al., 2019). If Eat & Fits’ new branch opens in India, it remains to be seen how much the general public will accept this online service. In this case, market research says, this online food service can be profitable from all sides.
• The company needs to maintain the quality of the products and services.
• In today’s society customers want comfort, there is nothing more comfortable than getting hot delicious food in their hands after daily office or work. People nowadays are almost completely under the control of online services so they want to get all the necessary things through online services (Yeo et al., 2017). In India, when Eat & Fit wants to build their platform, it can be profitable. Because with this one app the customer will be able to order food, choose the restaurants of their choice, pay the bill in a blink of an eye and get the food delivered to the customer’s home (Yeo et al., 2017).
• For expanding their platform in India, local restaurants will be more profitable as almost all local restaurants will be able to come up with an app which will also help the customer to choose the food of their choice (Thamaraiselvan et al., 2019). When local restaurants are associated with this app, both the Eat & Fit app and local restaurants can benefit. They need to research where will open new branches in India. If they choose populated places like Kolkata, Bangalore, Delhi first then their customer base and profit can increase equally.
• India has online food services like swiggy, zomato, uber eats and many more from where customers can order whatever they need (Gupta, 2019). Now Eat & Fit will have to face a competition with the online food service company of India if they want to build their platform here. In just case, Eat & Fit takes its own service tax, delivery charges less than other leading apps then the customer may come to them more. In addition, food delivery needs to be done at the right time and the behaviour of the delivery boys can attract the customers. If these are followed, Eat & Fit takeaway service can be beneficial in India (Gupta, 2019).

Product or services

The main products and services of Eat & Fit company include food and beverages which are delivered to the customers online. Justice delivered various food products from different students to the customers. The customers can order the best quality food products using the platform of Eat & Fit (See-Kwong et al., 2017). They also can order their preferable food products from the restaurants they like with the help of the platform of Eat & Fit. Entering the new market of India, the company will deliver food products from the various Indian restaurants into the customers at an affordable price and maintain the quality of the food products. The company tries to deliver the food items to the customers within the stipulated time which can help in maintaining the customer satisfaction (Dablanc et al., 2017). Also, the quality of the food is tried to be maintained by the company.

The company provides merchandise to the restaurants. By offering inexpensive meal packaging for the various restaurants in the company also focuses on developing the company. Inexpensive meal packaging system will be offered to the restaurants of the new market of India. It will help the Indian restaurants deliver the food products to the customers with a low-cost disposable and packaging system. Also, the company shows that it will maintain the best quality food services to the customers while performing and the delivery of the products which is the main reason for making the customers satisfied with the Eat & Fit services (Dablanc et al., 2017). Apart from that, the price of the product is also maintained by Eat & Fit.

Target market

The company has targeted the customers of different age groups in India. Eat & Fit also has targeted the people and individuals looking for delivery of the meal or take away from a domestic restaurant (Camilleri, 2018). Business personnel, college students, and officers of India are all the targeted customers of Eat & Fit in the Indian market. Also, the target of the company in the Indian market includes the customers who have an internet connection and smart mobile phone through which they can order different food products from the website of Eat & Fit. India is a country having a huge and vast population and also the people have different tastes and cultures. It is also one of the largest markets for international business organisations (Camilleri, 2018).

The country is also one of the fastest developing and growing countries across the world. Design the main reason for entering the market of India by Eat & Fit company. As the population is high in the country, Eat & Fit can attract a large number of customers towards the products and services of the company. It thereby can help the company increase its sales and revenue collection (Dey, 2017). Different cultures in the country the managers of Eat & Fit can provide various offers and discounts to the customers in different cultural and religious functions and activities. It thereby can help in increasing the customer satisfaction and loyalty leading towards a good brand image (Dey, 2017). Depending on the p