Introduction To Business Plan
This report demonstrates assessment of business plan which has been developed to launch a new product in UK market. The product is a Bottle which will keep the water warm or cool for long period of time. The first issues which has been observed is that people in UK are not able to find out a particular product in market which can meet their needs of carrying hot or cold water with themselves for long duration. The existing products which are available in market such as thermal flask and packaged water bottle are not able to keep water on stable temperature for more time. This makes it very difficult for people such as skiers, mountaineers and travelers to satisfy their thirst of water. One of the major issues which have been identified in this project is that there was no specific data which was present to determine the need and demand of such kind of bottle in market. Approach such as primary and secondary data analysis has been used to identify the market demand. Along with this, the report also reflects the areas on which the business plan can be improved. At last a reflective statement has been provided in which highlights how this business plan has helped in personal and professional development.
1.1 Industry Research
The number of people which spend more than two hours of travelling from one place to another for doing work has increased around 72%. On the other side of this, the number of commuters travellers has increased from 500000 to 8800000 in last 10 years (Millions of people spend two or more hours commuting a day, 2015). Areas such as south east, south west and Wales has witnessed biggest increase in long commutes. On the other hand, the number of travellers in caravans in England has been increased to 28% since the year 2006. 20123 Gypsy caravans where witnessed in the year 2015 which was 604 more than what it was in January 2014. On the other hand, in the year 2000/2001 there was total 921000 skiers in UK. Every year there are 1.5 million British public which skies. The number of climbers is also increasing as more than 360000 walkers climb the summit of snowdon every year. These all facts and figures clearly explain the potential opportunities for growth and de