Market Feasibility Report - Term Paper Example

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Market feasibility report Overview of business idea Entrepreneurship has become one of the buzz words in the era of 21st century. It is the growing phenomenon that continues to excite and influence human beings for the imagination of new business idea. Entrepreneurship is the prestigious term which has resulted millions of small home based business to fortune 500 companies in the world…
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Download file to see previous pages The new business idea which is to be introduced is business of food industry. The name of the company is Crazy Food plc. It is a food processing company which is based in London United Kingdom. The company will be initially focus on processed food and ready to eat food and if it becomes successful in these products line up then it will develop a brand of cooking ingredients. The first brand of this company will be a confectionary brand which is called Crazy Bite. The packaging quality needs to be very good and for this reason the company will not be outsourcing for the packaging as that will be more costly for a new venture. The company has focused on the packaging of its processed food product so that it becomes another USP of this brand. Crazy Bite is a brand that have different favoured sweets bar which will be available in different shapes and designed. It is one of the confectionary products of crispy in nature and coated with chocolate. The ingredients of this product are cashews and butter which make it tasty and more demanding. Different fruit flavoured product will be coated in different coloured cover matched with the flavour. It is a vegetable category of confection which people can have any time they desire. To target the entire demographic segment the company will focus on the low calories and low sugar products for the health conscious people. Geographic location analysis The geographic location of the target market is the main factor needs to be analysed before starting a new business. The analysis will provide the viability of the business especially the product acceptability by the product 1. Economic environment The emergence of global recession had lent a large impact on the snack and confectionary market in United Kingdom letting the sales volume dip along the period ranging from 2004 to 2009. Thus change in economic climate tends to largely affect the snack and confectionary industry of the region (Agriculture and Agri-Food, 4). 2. Technological environment Confectionary and snacks industry in United Kingdom is gaining a large space owing to the development of technological base through the use of effective machinery. Such machinery use would help in the production of large volumes of confectionary and snack items and in rendering quick wrapping. 3. Market demographics trends The demographic profile in United Kingdom is found to largely impact the business performance of Fresh Food. Consumers in United Kingdom are increasingly becoming highly health conscious thus abandoning the consumption of snack items for the fear of becoming obese. 4. Political environment For food production business food licence is required from the food and nutrition department of government authority. The company need to concern about the quality and hygiene factor of the food products they produce so that no issues come from the customers as well as from respective authority. Developing the production house the local regulatory bodies’ permission is also required. 5. Social environment There always a high demand of the confectionary food like Crazy Bite among the people of the society in United Kingdom. These products are well accepted by the people and as they desire new products especially for a new confectionary products. These food products are common foods ...Download file to see next pagesRead More
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