BUSINESS/MARKETING PLAN

Business and Marketing Plan



Introduction to Company

This business development plan is based on opening a new business in the beds and furniture industry of United Kingdom. I will present the initial planning of the business in the given setting, keeping all the key areas of a start-up business in mind. This study will evaluate the potentials of starting up the new brand and will discuss its viability and feasibility in detail. This will serve as a working business plan which will provide a realistic roadmap for the implementation of this project in Britain. The business plan will carry out several key functions for the organisation ranging from securing external funds for the business to measuring success and future potentials of the business.

We are considering producing a comfortable mattress that would be our new product in the market of United Kingdom. People seem to have an aversion to the idea of a hidden fold-out wall bed, all of this perhaps dating back to the infamous classic: the built-in bed. Quite recently, there are amazing high tech beds designed by companies like Bonbon around bedroom design ideas of high style and ideals of space-saving multi functionality. Some of the best of these hideaway beds are like secret rooms that blend invisibly into an interior design scheme and others add as much space as they displace.

Starting a new business rather than buying into a new business is a better option because of the fact that starting a new business from scratch allows the owner to mould his business as per his strategies. On the other hand, buying into a new business and then shaping it as per the person's idea is a difficult task (Hammond 2009, 34). There is a need introducing modern furniture design in order to minimize space as many houses and hotels in the UK and around the world are getting smaller. Due to this fact, 'Comfy Bed' will succeed to minimise space globally.

Business Idea

The business idea is ensuring the enrichment of our customer's lives by offering them a comfortable living and creating an enjoyable and relaxing environment for customers.

Business Research

'Comfy Bed' is based on the customer's desires. The typical customer is either someone who needs a relaxing place after loads of work or anyone who is fond of sleeping comfortably. 'Comfy Bed' is a unique business opportunity that will allow combining the excellent design and looks with extreme comfort for its customers. This business model makes the customer's satisfaction the highest priority. 'Comfy Bed' will leverage its competitive advantage of a customer-centric business model to rapidly gain market share in the custom cuisine niche.

Product

The product is 'Comfy Bed', a type of Wall Bed or Pull down Bed, which is hinged at one end to store vertically against the wall, or in a closet or cabinet.

Function/purpose of product

To achieve this, the mattress is attached to the bed frame, often with elastic straps. Wall Beds are used for space-saving purposes, which are much like a trundle ...