I have complete copy of this assignment.

If you want to have complete draft of this work with no

plagiarism, then contact me at my email id: projectwork185@gmail.com

BSP6000 Strategic Management

Assignment - Reflective Journal 4 – Pro forma

Student name: Student number:

Introduction
This reflection is targeted towards the evaluation of out business idea i.e. Bay Tree
Food. The company is going to offer vegan food products to the people who are
conscious about their health when it comes the food choices. The target market of the
company will not only be the vegan consumers but all those people who go to gym, have
health consciousness, and want to have healthy lifestyle. This means that our target
market would both include vegans and others who are health conscious. The previous
three reflections highlighted the issues such as idea generation, analysis of possible
competitors, setting company’s mission, scope, vision, and objectives. In addition to this,
we also did brain storming when it comes to the strategic planning about the product line.
However, this reflection is going to cater the overall evaluation of our business idea and
also the usability and workability of this idea. There are various ways through which the
evaluation is being made such as the feedback we got from our fellow colleagues, general
opinion from people who are conscious about their health, secondary data available on
internet, and researchers’ personal observation of the current market. We also worked on
the implementation strategy of our plan with all of the team members. We had several
group meetings on this issue. In addition to this, we discussed our idea with an expert on
this area who is presently working in this field of vegan products from many years.

Discussion
The authors such as (Creusen, 2010) argued that the product evaluation phase is
one of the most crucial phases in launching a brand/product/service into the market.
Zhang et al. (2011) pointed several reasons of conducting the product evaluation as it
helps in assessing that either the product is up to the standard or not. McGahan (2004)
added that product evaluation also highlights the differentiated features of the products
and is one of the most important part of the product lifecycle. The authors such as Ozer
(1999) added that product evaluation phase decides about the workability of a particular
idea and helps in predicting product’s growth upon its launching into the market. The
situation that is faced by us was same for a US based company named as ‘Perfect Fuel’.
Perfect Fuel owners targeted to launch Chocolate bar with healthier contents but at the
same time would provide energy to consumers. There were three different product lines
such as chocolate with ginseng, chocolate with espresso, and chocolate with chia. The
basic idea of the company was to sell chocolate but not in shape of candy rather a
healthier energy boosting product. The owner of the company used to get opinion of
health experts, distributors, and other marketing specialists before setting the recipe,
production, and launching (Mochari, 2014). We have the same scenario as it was faced
by Perfect Fuel. We are going to offer product line of vegan product line, but it is not
targeted only to the vegetarians but all of the health-conscious people. The business
model of a product that is needed to be launched in a market has utmost importance
(Zook and Allen, 2011). That is why we also work to adopt such a business model that
would be viable and workable. Smithers (2018) found that the level of consumers
 awareness and the selling of healthier and vegan products have already got multiplier
effect in UK supermarkets. So, it is clear that there is huge demand for the vegan and
healthier products in British market. The next step for use to plan the implementation
strategy. All of the group members have decided to launch the products in both small
stores and chain stores throughout UK. The usual payment cycle (the time in which our
company will get paid for our products). The payment cycle from small stores would be
around 15 days and big chain stores would pay us within 45 days. The total days in
production-distribution-getting paid cycle is about 30 to 90 days. So, for this we need to
plan our budgets and finances accordingly. The initial feedback for our product in terms of
its recipe and suitability of the idea was gathered through getting opinion of our
colleagues and from the people who are conscious about their health. The feedback we
got from all of these sources is found to be very encouraging and suitable. Most of the
people told us that there is the need of such a product in the market. Smithers (2018) also
found that about half of the UK adults have already adopted vegan friendly buying
behaviour. This is found to be very suitable for the success of our company. When it
comes the marketing strategy of our company, we believe in collaboration rather than
competing as the vegan market is still in adolescence stage and we as a small company
will not try to be involved in any pricing war with our competitors. The promotional and
marketing campaigns of our products will be done through various social media platforms
such as Twitter, Facebook, and other microblogging sites. Various researchers such as
Tuten and Solomon (2017) and Kumar et al. (2016) have already discussed the crucial
nature of social media in terms of marketing and added that social media enables the
companies to have two-way communication with the consumers. Keeping in view, the
budgetary constraints, Bay Tree will adopt only social media for its marketing and
promotional activities.

Conclusion

In the end, it is concluded that the idea of launching a product line with vegan and
healthier contents is highly suitable and workable in recent times where many of the
young adults are adopting healthier lifestyles. This project helped me in several ways in
learning the complex tasks and activities such as launching a new product into the market
along with the concepts such as development of business idea, gap analysis, business
environment analysis (both internal and external) situation analysis and working in the
team that I never came through in my previous educational or professional career. The
things I learnt during this project will definitely help me in my future career. Overall, it was
a experience that not only increase the level of my expertise but also gave me on hand
working experience on real-life business environment.

References

CREUSEN, M. E. 2010. The importance of product aspects in choice: the influence of

demographic characteristics. Journal of Consumer Marketing, 27, 26-34.
KUMAR, A., BEZAWADA, R., RISHIKA, R., JANAKIRAMAN, R. & KANNAN, P. 2016. From
social to sale: The effects of firm-generated content in social media on customer
behavior. Journal of Marketing, 80, 7-25.
MCGAHAN, A. M. 2004. How industries change. Harvard business review, 82, 86-94, 156.
MOCHARI, I. 2014. Startup Case Study: How to Introduce a New (Somewhat Complicated)
Product to Consumers [Online]. Available: https://www.inc.com/ilan-mochari/perfect-
fuel-launches.html [Accessed 12/04/2018].
OZER, M. 1999. A survey of new product evaluation models. Journal of Product Innovation
Management, 16, 77-94.
SMITHERS, R. 2018. UK supermarkets report surge in sales of vegan food [Online].
Available: https://www.theguardian.com/lifeandstyle/2018/feb/02/uk-supermarkets-
report-surge-in-sales-of-vegan-food [Accessed 12/04/2018].
TUTEN, T. L. & SOLOMON, M. R. 2017. Social media marketing, Sage.
ZHANG, G., ZELLER, N., GRIFFITH, R., METCALF, D., WILLIAMS, J., SHEA, C. &
MISULIS, K. 2011. Using the context, input, process, and product evaluation model
(CIPP) as a comprehensive framework to guide the planning, implementation, and
assessment of service-learning programs. Journal of Higher Education Outreach and
Engagement, 15, 57-84.
ZOOK, C. & ALLEN, J. 2011. The great repeatable business model. Harvard Business
Review, 89, 107-114.