Bottled Cocktails - Creating a Business Idea from the Ground Up

Project Type

Business Plan Development

Date

Jan'20-Apr'20

Ask:

As part of the undergraduate capstone project for a BBA degree from NMIMS University, the challenge was to create a detailed business plan for a new venture. The chosen business concept was a bottled cocktail brand, a concept that later gained traction during the pandemic. The project required the creation of a comprehensive business plan that covered all aspects of launching and running the business, from brand identity and product development to financial planning and marketing strategy

Action:

Developed the brand logo, vision, mission, and identity, establishing a strong foundation for the brand.
Designed the product line and packaging, ensuring the brand’s aesthetic and functional appeal.
Planned the supply chain logistics, addressed legalities and licensing requirements
Created a detailed budget and investment plan and projected growth and sales, developed long-term financial plans, and outlined a roadmap for expansion.
Crafted a robust marketing strategy, focusing on identifying target demographics and market segmentation. Developed a marketing mix that included digital marketing, social media campaigns, influencer partnerships, and traditional advertising to build brand awareness and drive sales.
Although the project’s final presentation phase was affected by the pandemic, which limited the opportunity for prototyping and investor pitches, the concept’s potential was validated as the market for bottled cocktails grew during the lockdown.

Achievement:

The project demonstrated the team's ability to identify and fill a market gap, with the business plan serving as a robust blueprint for a potential future venture.