A structured Busniess Plan for a Real Estate Agency in Malta

I would like to order 10000 words assignment Business Develepment plan with only secondary research No Primary Research and 150 references topic- Cosmetics (Make up) company operating in Malta

A structured Business
Plan for a Real Estate
Agency in Malta

Table of Contents
TITLE:.............................................................................................................................................1
INTRODUCTION...........................................................................................................................1
Justification behind selecting topic........................................................................................1
Rationale for business idea.....................................................................................................1
Scenario of the study..............................................................................................................2
Clear aims and objectives.......................................................................................................3
Background to subject area....................................................................................................3
Structure of the Project...........................................................................................................4
LITERATURE REVIEW................................................................................................................6
Range of Literature on Cosmetic industry .............................................................................6
Evaluation and review of both theoretical and secondary research data about industry size,
growth rate, major players / competitor analysis...................................................................7
Business Idea .........................................................................................................................8
Marketing mix......................................................................................................................10
Segmentation, Targetting and positioning............................................................................12
Understanding of relevant concepts and theories about the business model........................13
Discussion of conceptual and theoretical issues-Business model canvas............................15
Summary and clear understanding of principal issues relevant to topic..............................17
METHODOLOGY........................................................................................................................18
Selection of models for strategic analysis............................................................................18
Selection of clear aims and objectives..................................................................................18
Selection of appropriate research methodology...................................................................19
Feasibility analysis...............................................................................................................20
Research limitation...............................................................................................................22
DATA/ RESULT ANALYSIS......................................................................................................23
Clear presentation of results based on the strategic analysis ...............................................23
Appropriate analytical interpretation of results....................................................................25
Application of result to research objective and literature ....................................................25
Identification of sources of competitive advantage and sustainability.................................28

Selection of strategies for success........................................................................................28
Development of appropriate Business Model for the business............................................29
Appropriate synthesis and evaluation of research results, inferences and implication.......31
DISCUSSION, CONCLUSIONS AND RECOMMENDATIONS...............................................32
Recommendations................................................................................................................35
REFERENCES..............................................................................................................................37

TITLE:
Cosmetics (Make up) company operating in Malta. A study on Ultra Beauty cosmetics.
INTRODUCTION
In this study, there is study about setting by new business enterprise in cosmetic sector.
There will use of complete and specific information about factors which to be considered and its
impact on operational operations (Azzopardi Muscat and et. al., 2017). With change in
commercial activities, there is requirement of alteration in business operations as well, hence it
will be easy for individuals to get positive impact. There is study of models and theories
regarding its feasibility. Ultra Beauty Cosmetics is the organisation which is established in
cosmetic sector. This association will set up in Malta at Victoria, Gozo. This association is
providing cosmetic item for female and children.
Justification behind selecting topic
Cosmetics is the sector which is used by individuals for coming up with products through
which people can improve their appearance. These days, there is much scope of growth and
development for cosmetic industry (Larasati, Yasri and Abror, 2019). There will alteration in
operations because there is fast changes in this sector. It is essential for people to evaluate and
determine which suits best for them. As compared to old years, people want complete and
specific information. There will use of relevant and specific information which makes it clear to
understand policies properly. With change in life style of people, they have to change their
working style also. This study is based on establishing new cosmetic organisation and it is
important to evaluate external market properly. With change in external market, it is not possible
for managers of Ultra Beauty Cosmetics to deal with it until they have measures and proper
planning for it (Theuma, 2016). This sector is selected because there is scope of growth and there
is no organisation providing cosmetics for children. So business idea will feasible in current
market.
Rationale for business idea
This study is important and significant because there is more scope of growth and
development in cosmetic sector,. There will requirement of complete and appropriate
information, so it will be easy for individuals to get best and positive outcome. There will study
of different models and theories through which it is possible to complete the study and make
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information relevant. This study is appropriate and specific for industrialist as well because they
get to know about scope and areas in which they can expand. There will study of proper policies
and strategies through which activities are communicated for getting positive outcome. With
determination about changes in external market, it is easy to deal with it because this is the only
way due to which business activities got changed. In Malta, there is change in demand of
consumers because of change in demand of consumers because this is the way which leads to get
changes in business activities as well. So this study provides specific way to determine
favourable and unfavourable factors which might affect commercial activities.
Scenario of the study
Ultra Beauty Cosmetics is new opening organisation in cosmetic sector providing
cosmetics for females and children of 4-18 years age group. There is no organisation providing
cosmetics for children but in current market, for model or photo shoot purpose, consumer have
demand for cosmetics for children as well because they are appropriate for their skin tone (Javed,
2014). This cosmetic store is dealing in manufacturing as well as retailing sector. Ultra Beauty
Cosmetics will operate at three locations in the name of their outlets. They have knowledge
about demand of consumers and it is easy to communicate with consumers and price of products
will be affordable. This business is opened in partnership by two individuals who are working in
this sector and now wants to operate their own outlet.
In Malta, there are parents who wants their children to be part of fashion industry through
modelling and fashion outlet. So they wants products for their children which are as per their
skin tone. There will change in demand of consumers, so partners are coming with varieties of
products (Jacobs, 2019). As they have manufacturing as well as retailing units, so they will take
care about quality of products available. There is availability of information with individuals so
they are ready to provide information properly. When people are having proper information, then
it is specific for getting specific data for completing the task and operating in industry
successfully. There is no competitor which are working in this sector and coming with cosmetic
products for children, so growth prospects and scope of operating in industry is more for Ultra
Beauty Cosmetics (Attard, 2016). This organisation is mainly focusing on organic products
which includes lipstick, mascara, oil, shampoo, kajal, liner, foundation, etc. for women and
children with their different variances.
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Clear aims and objectives
In order to run in industry, there is requirement of complete and specific information
which assist in getting proper information. It is important and relevant for people to determine
the best ways to deal with it (Sima, Gheorghe and Mitu, 2017). This business plan is used to
communicate to stakeholders and investors about business ideas properly and determine
feasibility of business idea in current market. When individuals are thinking to operate as new
organisation then they face problem, hence aims and objectives are setted by individuals to
operate in industry.
Aim of this study is: To study the business development factors for cosmetics (Make up)
company operating in Malta. A study on Ultra Beauty cosmetics.
Objectives of this study are-
 To study about the business plan of Ultra Beauty cosmetics.
 To evaluate the marketing mix and STP framework for successful establishment of
business.
 To discussion about the Business canvas model for studying role of other parties in order
to operate Ultra Beauty cosmetics in effective manner. To evaluate the strategies that support Ultra Beauty cosmetics in increasing its sales and
revenue in industry.
Research questions
 What is the business plan of Ultra Beauty cosmetics ?
 What are the marketing mix and STP framework for successful establishment of
business?
 How Business canvas model is relevant for studying role of other parties in order to
operate Ultra Beauty cosmetics in effective manner ?
 What are the strategies that support Ultra Beauty cosmetics in increasing its sales and
revenue in industry ?
Background to subject area
There is study of business idea which is operated for operating in order to communicate
and determine what has to be done which is specific in consideration of operations. This study is
related to new business establishment in fashion industry, so it is important to communicate
about changes which are taking place in external market. There will study of overall industry and
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scope of growth. With considering it, there will relevant and specific information through which
changes can be made with understanding and evaluating changes properly. In this study, there
will complete and specific information which assist in maintaining and evaluating activities for
getting complete and appropriate sources of information (Baumann, 2014). There will study of
marketing mix which assist in determining which marketing strategies are best and promotional
techniques which has to be used. Victoria, Gozo is the place, where cosmetic store can enhance
their brand because people wants proper products for heir children as well. This is the study
which makes positive relations with consumers. This is the measurement in which performance
of Ultra Beauty cosmetics company will be positive. If parents wants to make their children
ready for photo shoot, modelling, etc. then they can purchase products of Ultra Beauty
cosmetics.
Structure of the Project
There is a specific format in which study will have to be performed. It is important and
specific for individual to make it clear and specific, so it can be used by reader to understand and
evaluate information properly about conducting the study. The structure of this study as under-
Introduction- This is the initial and important component while conducting the study
because this discloses information properly. There is relevant and appropriate information about
business sector and information which has to be conducted. This is specific and appropriate
because this is the section which provides information about aim and objectives for which study
has to be conducted.
Literature review:- Literature review is the section which is specific and appropriate for
individuals to collect information about how to operate in cosmetic business. This is specific and
appropriate because it is not possible to complete the study if they does not have knowledge
about framework and models. In literature review of this study, there will study of ways to
operate in industry. Literature review is performed with collection of secondary information
through online sources about ways to operate in industry.
Research Methodology:- there are some ways in which individuals have collect and
make appropriate information to conduct study properly. There is requirement of some sources
of information and ways through which study can be completed properly. There will study of
research techniques as well, so it will be easy for people to understand and determine changes
properly.
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Data analysis:- data analysis is the process in which data which is collected from
secondary sources because it can not understandable by individuals because this is the base on
which research outcome and conclusion are presented. This is important and specific for
determining changes properly because this makes operations in lieu of achieving information
properly.
Discussion, Conclusion and Recommendations:- Lastly in this, there is discussion
about information is presented in literature review. This is the gist of above provided
information. Hence it is important and relevant for understanding activities properly. Conclusion
provides overall gist of conducting study and information which is available to them. Lastly,
there is disclosure of recommendations as well because this is the section in which individuals
have to recommend about situation with which people have to deal.
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LITERATURE REVIEW
Range of Literature on Cosmetic industry
Cosmetic industry includes all those organisation and companies that are dealing and
providing products and services related with cleanness of body and make-up purpose that
includes skin care, hair care, make-up, moisturisers, lipsticks, shampoos, deodorants, perfumes,
toiletries and other related cosmetic products (Markowicz and Baran, 2019). As per the view
point of Josette Grench, 2020, cosmetic industry of EU is serving around 500 million consumers
and Malta is emerging as one of the fast growing economy of EU where future of cosmetic
industry is very bright (Wessner and Howell, 2020). A new EU regulation is also set up in the
markets of cosmetic industry that will bring positive changes in the world of cosmetics through
primarily focusing on consumer and health protection thus, build a better trust and confidence in
consumer that will give a boost to cosmetic industry (Arruda and Pastore, 2019). Thus, the newly
emerging company Ultra beauty cosmetic needs to follow and company with all the provisions
set by this new European cosmetic regulation (Rabe and Sherman,2016).
Beside this, according to the opinion of William reed, 2020, the cosmetic industry of
Europe is playing a significant role in economic growth and sustainability of European economy
including the growth of Malta ( Procter and Gamble Co, 2017). As per the cosmetic report, it has
been evaluated that the cosmetic and personal care industry of EU and Malta are making
significant social and economic contribution to both national and regional economies across the
various regions of the EU (Prajapati and Maheriya, 2019). Through the purchase of goods and
services and timely payment of employee wages and taxes, the cosmetic industry of EU are
generating multiple rounds of economic spending and re-spending thus, cresting and leading
benefits for both European economy and its citizen (Eide, 2019). Apart from this, the article from
the William reed also reflects that in 2016, the European cosmetic market was valued around €
77 Billion which us making Europe the largest market of cosmetic product in the world (Ojogbo,
Ogunsona and Mekonnen, 2019). Thus, theses reviews and articles are reflecting the prosperity
and growing market of cosmetic industry in Europe and Malta therefore creating better
opportunity and chances of success for Ultra Beauty cosmetic in the markets of Malta (Rabe and
Sherman and Gamble Co, 2016).
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Evaluation and review of both theoretical and secondary research data about industry size,
growth rate, major players / competitor analysis
The markets or Europe and Malta are showing a rapid growth and many emerging
opportunity for cosmetic industry (Zammit, Spiteri and Grima, 2018). As per the view of Philipp
Huhn, 2019, the statistics shows a growth a in revenue of retail sale of cosmetic, make-up and
toilet articles in the stores of Malta and are amounts for nearly about 110 million US dollars by
2022. this information is reflected by the graph shown below:
Illustration 1: Retail sale of cosmetic and toilet articles revenue in Malta from 2010 to 2022
(Source: Retail sale of cosmetic and toilet articles revenue in Malta from 2010 to 2022, 2019)
Thus, on the basis of above graph it can be analysed that cosmetic market of Malta is of
big size and are showing opportunity for Ultra beauty cosmetic to have better sales of its product
and chances of earning adequate profits are also prevailing in the Cosmetic industry of Malta
(Pace, 2020).
Beside this, as per the view point of Vincent Gallon, 2020, the European cosmetic market
is grew up by 1.3% as compared to the data of 2017 (Jain, 2017). According to the information
provided by cosmetic Europe the, cosmetic industry is supporting around 2 million jobs across
the value chain of Europe and in 2017, the cosmetic market of Europe is valued at 77.6 billion
euros which is making the largest market for cosmetic and personal cares products in the world
thus, provides the most suitable market for the Ultra beauty cosmetic (Borsekova, Vaňová and
Vitálišová, 2017).
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As the the cosmetic industry of Malta is growing with a rapid speed thus, the level of
competition is also increasing in the markets of Malta (Floyd, Procter and Gamble Co, 2018).
This growing competition has bring out out many changes and innovation in cosmetic product
that includes various R&D programmes and study into all aspects of imaginable beauty products
and well-being, from investigating consumer behaviour and beauty aspirations, the biology of
skin, hair, teeth and oral cavity, to new innovative technologies and bettering sustainable
development methods (Jones and Navarro, 2018). The major players and biggest competitors in
cosmetic industry of Malta includes Beauty Room, Beauty World Malta, C+M Marketing , CMS
Bella, Concept enterprises Marvic farms, Four trading, GE brothers, Glam Healthy Beauty,
Impact Ltd, etc. are the most popular cosmetic companies dealing in the markets of Malta (Satta,
Spinelli and Parola, 2019). Thus, Ultra beauty cosmetic is facing a tough competition level in
the markets of Malta but the unique ideas and exclusive products of Ultra beauty cosmetic
making it different from all these competitors thus, chances of success have increased for this
organisation (Speake, and Kennedy, 2019).
Business Idea
The aspect of business idea is regarded as one of the essential component any
form of organisation as it help them to identify the market condition and also lead them to take
corrective course of action in order to accomplish its pre determined goal or objective in an
effective manner. Moreover, a business idea provide proper guidance and direction to firm in
terms of placing the brand in a better position, targeting customer, segmenting the product and
many more for enhancing the market share or size in an prompt manner. Hence, in relation to
Ultra Beauty Cosmetics they are planning to introduce its business service within the
marketplace Malta. Moreover, company is mainly targeting over the females and young children
( age group of between 4 - 18) of UK which help them to improve its productivity ratio in an
improved manner. This is because, as per the UK market analysis, it has been signified that none
of the company is delivering cosmetics products for children which is one of the biggest growth
opportunity for Ultra Beauty Cosmetics to gain competitive advantage (Manhart and Thalmann,
2015). The idea which empower Ultra Beauty Cosmetics to choose young females and children
as a targeted customer is that they skin tone and type is highly sensitive and delicate for which
they require special care or treatment in order to maintain their skin in a better way. Along with
this, another feature that motive Ultra Beauty to produce cosmetics for children and females
8

product is that majority of UK parents are highly interested in sending their children towards
fashion industry. In order to attain the same, every parents is in need of hygienic and healthy care
for children skin because their skin is very thin compared to adults that requires effective care.
However, customer demands a product which has the capacity to keep their skin from getting dry
and also aid children to enhance their appearance or odour in an impressive style. However, to
cope with up with such demand and wants of UK population, Ultra Beauty Cosmetics take an
initiative to introduce a product which can easily provide high level of satisfaction to consumers
i.e. organic cosmetic items for young females and children (Landau, 2017). Due to such
initiation, it drive organisation to capture the attention of wide range of customer towards the
brand and it benefits firm by enlarging its market share among rivalries in an amended mode.
Hence, some of the products which Ultra Beauty desire to trade within UK industry are as
follows:
Products delivered by Ultra Beauty Cosmetics
 Lipstick
 Foundation for all skin type
 Mascara
 Oil
 Shampoo
 Kohl
 Liner
Who is involved
The Ultra Beauty Cosmetics will be founded with an aim of offering organic cosmetic
products to young females and children. However, the entire business function and process are
control by two individuals as a partnership who are being employing within the same sector for
long time period. However, now they have decided to establish their own outlet in UK industry
by delivering creative and innovative products. Along with this, Ultra Beauty Cosmetics deals in
manufacturing and retailing sector that enable firm to explore its profit margin ratio in an
improved manner (Mou, Hoque and Rajib, 2018). Additionally, company also contain
stakeholders such as employees, governments, customers who help company to accomplish its
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pre defined objective in an improved manner in a stipulated time limit. Moreover, these
stakeholders are also authorised to acquire 30% share from business in the term of profit. For
gaining competitive advantage in an innovate style, Ultra Beauty make an attempt to recruit
highly skilled talents who are well thorough with fashion industry and also capable of imposing
novel ideas or ways to explore firm's potentiality in attaining sustainable growth or development
among rivalries.
Windows of opportunity
In current era of marketplace, fashion industry is regraded as one of the fastest growing
sector among other industries as from the past decades market analysis, it has been determined
that fashion industry is being capable of generating higher GDP rate in UK compare to other
divisions (Seifter, Sabutsch and De Bruin, 2018). However, the growth in global economies,
changing lifestyles, increasing demand of skin and sun care products due to climatic condition,
demand of parents to explore their children in fashion secror empowered the enhancement or
growth of market for cosmetics. Henceforth, it is an impressive growth opportunity for Ultra
Beauty Cosmetic to attract the interest of population and also to obtain competent position within
fashion industry. This is because, firm offer organic cosmetic products for young females and
children with an intent of satisfying highly skin conscious customer in an amended manner.
Management
For maintaining better brand value, an effective management structure is regarded which
enable an establishment to govern, monitor, control and manage all managerial and operation
activities in a better way (Xiao, 2015). IN relation to Ultra Beauty Cosmetics, they make an
attempt to allocate the available resources at optimal level as well as analyse market trend or
competition and based on that implement strategic decisions that lead them to attain
sustainability and increased level of profit margin.
Marketing mix
Marketing mix consists of set of strategies and tactics that are used by an organisation for
maintain its product or services in effective manner and deliver them while creating value among
the customers. It help an organisation to assure that right product or services get deliver to
customer in less possible time period (Yang and Lee, 2016). The marketing mic mainly revolve
around the seven major elements that support in keeping customer satisfied and delighted with
the organisation which includes product, price, place, promotion, physical evidence and people.
10

By using this marketing model in order to deliver its services to customer the Ultra Beauty
cosmetics become able to achieve sustainability at marketplace by keeping its customers satisfied
with the services. The major elements involve within the marketing mix are mentioned below:
Product :- It refers to the set of attributes that are capable of fulfilling the demand and
expectation of customers. Product is consider is more significant part of an organisation over
which factors like market performance, customer demand, organisational success, profitability in
market etc. depends (Nugroho and Irena, 2017). The Ultra Beauty cosmetics is planning to offer
a range of cosmetic items for women and children in order to cater their need at early age as
majority of products available in market are being designed for the people that belongs to adult
age group. Therefore, Ultra Beauty cosmetics is getting enter into Malta market by offering
cosmetics for children and women at their young age as the skin requirement in the age group of
4-18 is totally different. It will be offering products like lipstick, mascara, oil, shampoo, Kohl,
liner, foundation, etc.
Price:- It refers to the amount which a customer would have to pay in exchange of
product or services that they are purchasing (Racolta-Paina and Luncasu, 2014). The price of
product also consider as essential factor that support in attracting the attention of customers
toward a particular product or services. The Ultra Beauty cosmetics has decided to keep the
price of their products at affordable so that majority of customers get attracted toward it and have
access to purchase it. For offering its products in market of Malta and achieving sustainability at
marketplace Ultra Beauty cosmetics has decided to adopt market penetration pricing strategy
where the price of products would be kept lower then that of competitors.
Place:- It refers to the place or end point through which a customer become able to get an
access toward the product or services of an organisation that can satisfy their need and want. The
Ultra Beauty cosmetics has decided to set up their outlet in order to offer their product to the
targetted customers (Brady, 2014). The company will be going to establish three outlets in
Victoria, Gozo, so that the products can be reached to majority of people who are seeking for the
cosmetics that are made as per the special requirement of customer in more effective manner.
Promotion:- It consists of set of activities that an organisation perform in order to make
people aware about the existence of product or services along with the benefits that it is
delivering. For promoting its brand, Ultra Beauty cosmetics will make use of omni channel in
order to create more and more brand awareness regarding its product or services (Speake and
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Kennedy, 2019). The main channels for interacting with customers would be TV advertisements,
Web pages, social media channels, bill boards etc. Promotion through all these channels will
support in positioning the Ultra Beauty cosmetics within the market of Malta effectively.
People:- For ensuring that the Ultra Beauty cosmetics perform well within the market of
Malta it has been decided to recruit the employees that are highly experienced in their field
(Grech, 2014). Additionally some pharmacists will also be hired by the company so that their
would remain surety regrading the product quality so that not any kind of allergic reaction
customer have to face with the application of products offered by company. This help in building
up the trust and confidence of people within the offering of Ultra Beauty cosmetics.
Process:- It is defined as the procedure that an organisation follows in order to offer its
product or services to target market. The Ultra Beauty cosmetics is planning to offer cosmetic
products that are manufacture by considering the early age skin requirement of children which
would offered from its retail outlets that are being established within the Victoria, Gozo over
three prime locations (Azzopardi Muscat and et. al., 2017). By visit these store the customers can
easily access the product or services as per their requirement.
Physical evidence:- For making the outlets of Ultra Beauty cosmetics more attractive to
the customers, it has been decided to arrange all the products or cosmetics category wise in
different section so it become easier for the customers to get their product easily. Despite of this
on the walls of outlet several pictures of cosmetics will be pasted in order to grab the attention of
customer. Additionally their would remain a trial section where the customers can ask for the
code of cosmetic that they want to buy in order to try them for determining whether it will suit
them or not (Turner and et. al., 2015). These all contribute toward attracting larger number of
customers toward the outlet as everything is so arranged and manageable that they didn't found
any issue while purchasing product or services.
Segmentation, Targetting and positioning
The aspect of market segment refer to those activity in which company divide its big
market into small segments and targetting customer in order to enhance overall profitability ratio.
In regard of Ultra Beauty Cosmetics, they make an effort to imply this marketing model i.e. STP
into its functional unit is explained below:
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 Segmentation: In this component, the entire market is divided into smaller groups as per
its homogeneity inside the characteristics they hold. In context of Ultra Beauty
Cosmetics, they segment is whole business into different smaller groups on the basis of
demographic market. Due to such effort, it motive them to capture the attention of wide
range of population and also can acquire best position within marketplace by grouping
market into different subcategories (Sena and Olsen, 2014).
 Targetting: This determinant is concern with those element which states that it is a
procedure of targeting specified group by developing effective strategies and marketing
policies for increasing customer base in an amended manner. In relation to Ultra Beauty
Cosmetics, they mainly target young females who are age group of 4-18 and children as
there is an increasing demand of special care and treatment for skin mainly for children.
However, such effort enable Ultra Beauty to gain competitive advantage and profit
maximisation.
 Positioning : This element is link with those process in which organisation decide
location for its market with an intent of acquiring high level of satisfaction. IN context of
Ultra Beauty Cosmetics, they are dealing its products and services in manufacturing and
retail outlet. With the help of such initiation, it assist establishment to improve its overall
sales performance and also can explore its proficiency ratio in an improved mode within
prescribed time limit (Wright, Siegel and Mustar, 2017).
Understanding of relevant concepts and theories about the business model
A business model basically describes that how an organisation will creates, deliver and
capture value for it self in the economic, social, culture and other concepts and includes
formulation of various strategies and plans on the basis of some relevant concept and theories
(Speake and Kennedy, 2019). As per the view point of Jouison Estele, the concept and theory of
Business model basically includes the stakeholders theory, Convention theory and resources
based theory that provide a core strategy for profitably doing a business. Beside this, as per the
thinking of Andrea Ovans, 2015, various business concepts and models are used by organisation
for having foundation and creation of a well structured and efficient organisation. Use of
Business model canvas is being made by Ultra beauty cosmetic to have a proper and effective
business model which includes all the necessary components and aspects of a business
organisation (Pirotta, Polidano and Warrington, 2018).
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As per the view point of Tom Mock, 2017, business model canvas is an entrepreneurial
tool that enables an individuals or organisation to easily visualize, design and reinvest its
business model (Grima and Pavia, 2019). Business model canvas was developed by a Swiss
business theorist, Alex Osterwalder which is basically a farmworker or physical chart that is
divided into nine building blocks thus, provide a tool to improve and bring clarity in business
stricture and activities. Theses 9 blocks and there explanation is provided below:
Value propositions- it includes the the things and services actually made and produced by
the organisation and emphasise over all the benefits and features of product together with the
associated risks and issues (Smith and Rees, 2017).
Customer segments- it is the most important part of a business model canvas and related
with the target customers. The potential consumers are selected and finalised by any organisation
after proper evaluation of customers lives, their social habits, there gender, demands, needs, etc.
that helps in decision making regarding the most profitable customer segment (Kim and Patel,
2017).
Channels- it includes the modes and ways that are used by an organisation to deliver its
product to customers. Use of physical channel that includes retail system and distribution
network use of internet and other online channels are also used by the organisation with the rise
of technology (Wirtz, 2019).
Customer relationship- this part of business model canvas is associated with building
relationship and effective connection with the customers which could be done trough making use
of online website and other digital and online media and networking (Ashley, Schaap and de
Bruijn, 2016).
Revenue streams- this aspect is related with how an organisation actually going to make
money for its value preposition. It can includes a various modes of sale like freemium model,
licensing model or subscription model (Girella, Tizzano and Ferrari,2019).
Resources- this factor includes all the possible asset and resources that are used and
consumed by an organisation to produces and deliver the value propositions. It includes
employees, store, manufacturing plant, factories, delivery trucks, programmers, strong
workforce, etc (Jaccard and Jacoby,2020).
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Key partners- these are the associated or related parties that helps an organisation in
growing and working effectively. The most common key partners of an organisation includes its
buyers and suppliers (Abdelkafi and Täuscher, 2016).
Key activities- it includes the main task, function and activities that are performed by a
business organisation and makes the business model work. Like for an manufacturing company
key activity is its production process (Mansour and Barandas, 2017).
Cost structure- it includes the various cost and expenses made to run a business
effectively that includes expanses and cost of payroll, rent, advertising, material and everything
else (Whalen and Kijne, 2019).
Thus, it can be said that use of Business model canvas by Ultra beauty cosmetics
facilitates speed and agility in its business operation through providing a guidances and better
way of thinking for each key components of an efficient and effective business model.
Discussion of conceptual and theoretical issues-Business model canvas
The concept and theoretical issues related with business model canvas incudes three steps
that are assisted with general characteristics of the main fields of research on circular business
model, identifying that how circular economy principles can be applied to various components of
business model together with evaluating how circular economy principles exceeded the
components of business model and finally includes the conceptualisation of the framework of the
business model canvas and also includes identifying new components of business model (Carroll
and Brown, 2018). Following Business model canvas is made by Ultra beauty cosmetic company
to clearly structure and show its business model:
Key Partners
 Customers
 Investors
 Suppliers
 Experts of
cosmetic
sector to
help in
R&D to
come up
Key Activities
 Staff
recruitmen
t
 product
ion and
sale of
csotematic
itmes.
 Trainin
Value
Propositions
 affordabl
e organic
cosmetic
product
that
includes
lipstick,
mascara,
Customer
Relationship
 use of
Social
media for
effective
interaction
 Additional
discount
offers for
Customer
Segments
 Young
females
and child
of age
group 4
to 16.
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with new
products.
 Other
business
associates
and
partners.
g and
developm
ment
program
 resrach
on
organisc
prducts top
develop
and
provude
ewand
more
innovative
stuff.
 Market
ing and
promotion
of
orgnasdnic
product for
child.
 Produc
t
testing
by
pharma
cist
oil,
shampoo,
Kohl,
liner,
foundatio
n, etc.
regular
customers.
16

Key Resources
 talented
workforce.
 Investors
and capital
 effective
R&D
process to
develop
new
product.
Channels
 effective
distrviutio
n channles
that
includes
reatil
stores and
outlets on
its own
name and
online
website.
Cost Structure
 Fixed cost
 Variables cost
Revenue Streams
 use of licening and
sublcrsption moidel is made
for revenue stream.
Summary and clear understanding of principal issues relevant to topic
On the basis of above findings it can be summarised that cosmetic industry of Europe is
growing with a rapid speed thus, leading many opportunity for Ultra beauty cosmetic. Beside
this, the unique and exclusive cosmetic products that are offered by this organisation is also
ensuring its success in the market (Traunmüller, 2016). Thus, Ultra beauty cosmetic is capable of
facing the competition prevailing in the market as none of the competitor is providing cosmetic
products especially for child and young female (Aagaard and Lodsgård, 2019). Further use of
business model canvas is showing a clear picture about its activities that is also reflecting that an
17

effective planning regarding various aspects of business model is made which also lead to the
success of Ultra beauty cosmetic (Tesapaet and Pavapanunkul, 2019).
18

METHODOLOGY
Research methodology is the section in which proper information about tools and
techniques will studied properly. There are many information which are provided in this study,
so it is important to determine ways to deal with it (Flick, 2015). There is use of different tools
and techniques for determining external market and its impact on overall growth of Ultra Beauty
cosmetics company. This section is important in business research pan because this discloses
information which is specific and relevant for understanding and evaluating changes properly. In
order to study complete and relevant information so this makes information relevant and specific
(Gioia, Corley and Hamilton, 2013).
Selection of models for strategic analysis
Strategic analysis refers to collection of information about factors which might affect
business operations. It is important for people to deal with changes because business organisation
has to be face changes of society. There will use of porter' s five force model for strategic
analysis and collection of information about conducting activities. In five force model, there will
study about percentage of competition in industry (Sultana, R., 2017). Apart from this marketing
mix will also discuss because this is the reason of change for which individuals are working.
Marketing mix provides information about components which has to be considered for marketing
new product and services by Ultra Beauty cosmetics company.
Selection of clear aims and objectives
There are some aim and objectives which have setted while conducting this study. There
is requirement of complete and specific information about conducting activities properly (Green,
Camilli and Elmore, 2012). There will change in working operations, so it will be easy for
researcher to understand and determine what has to be achieved or study is performed in which
direction.
Aim of this study is: To study the business development factors for cosmetics (Make up)
company operating in Malta. A study on Ultra Beauty cosmetics.
Objectives of this study are-
 To study about the business plan of Ultra Beauty cosmetics.
 To evaluate the marketing mix and STP framework for successful establishment of
business.
19

 To discussion about the Business canvas model for studying role of other parties in order
to operate Ultra Beauty cosmetics in effective manner.
 To evaluate the strategies that support Ultra Beauty cosmetics in increasing its sales and
revenue in industry.
With the help of this study, it is clear and easy to determine what has to be done through
which these can be achieved (Kumar, 2019). It is important and specific for individuals who are
thinking to operate Ultra Beauty cosmetics because with use of STP and marketing mix, it will
be easy to analyse which of the following consumers have to be targeted, what are marketing
strategies, etc. There will study of these frame work for determining and understanding its role
for growth and development, it is important for partners to understand how activities must be
planned. Hence possibilities of getting hike to Ultra Beauty cosmetics to more.
Selection of appropriate research methodology
There are tools and techniques which are used to conduct study in relevant manner and
performing activities for determining activities properly (Mackenzie and et. al., 2012). There is
some justification which has to be provided to reader, so they get relevant and justified
information.
Research philosophy- Research philosophy provides information about taking care about
factors which has to be taken care while conducting research activities. Interpretivist, pragmatist,
positivism are three ways in which investigation will be conducted (Mackey and Gass, 2015).
Positivism philosophy is best for completing this study because this focus on sources which
might affects research outcome, conclusion and recommendations.
Research approach- There is a specified way in which study is conducted which covers
under research approach. Inductive and deductive are two way through which essential
components have to be considered (McCusker and Gunaydin, 2015). Deductive study is best for
this study because this focuses on information which is essential for establishing business and
have aimpct on operations as for proper completion of whole study. This approach is better with
qualitative research strategy used in this study (Wiek and Lang, 2016).
Research strategy- There is a particular way to complete the study because information is
important as this might affects establishment of new cosmetic venture (Miller and et. al., 2012).
There two ways in which study can be conducted i.e. qualitative and quantitative method. For
this study, individual is using qualitative method for which data is presented in graphical form.
20

In this method there is answer of why as well if some information is presented. In order to
analyse human behaviour about establishing a business organisation and factors which has to be
considered (Quinlan and et. al., 2019). With using this strategy, it will be easy for researcher to
evaluate and understand strategies in proper and effective manner.
Research design- Research design is the presentation of information through which
proper and structured format can be known. There are two ways in which investigation can be
shown i.e. descriptive, experimental, exploratory (Riedl, Davis. and Hevner, 2014). The best
design is descriptive because this is the way which covers complete and in- depth information
about conducting activities. This is the information which is reader will get appropriate
information about dealing as new venture in industry.
Sources of information- There are two ways through which information can be collected
i.e. primary and secondary source of information (Walliman, 2017). But for starting new
business and starting as new organisation in cosmetic industry. There will use of secondary
information because this provides in- depth and overall information about starting new business
(Scotland, 2012). If individual does not have knowledge about models, theories and
frameworks, then it will be easy to determine which is relevant and effective for completing the
study.
Research ethics- In order to complete the study, there is use of some ethical and
important components. It is crucial for people to maintain confidentiality and informed consent
of individuals. Hence this study will become relevant and crucial in this study (Silverman, 2016).
There are some sources of information for collecting secondary information, so it is easy for
them to understand and evaluate policies properly. With consideration of ethic, study will
become relevant and appropriate and can used as secondary sources of information for future
study (Tuohy and et. al., 2013).
Feasibility analysis
When some business has to be established in market, there is requirement of complete
and appropriate information about making activities for achieving targets. It is specific and
appropriate for mangers to determine and evaluate operations properly (Jaccarini and Refalo,
2017). When activities are conducted as per external market, then, it is easy for managers to get
positive impact and possibilities of business growth is more. For conducting an project or
launching new business feasibility study is one of the important component through which
21

activities will be performed properly. Feasibility study is done to study and evaluate industry,
organisation, market, finance, etc. because these are the crucial factors which has to be
considered.
Product feasibility- Ultra Beauty cosmetics will provide cosmetic items such as mascara,
oil, shampoo, liner, etc. for female and children. Children are targeted because Malta is the
country where scope of fashion industry for children are increasing (Rodrigues and et. al., 2016).
This is so because the majority of parents wants their children to be enter or perform within the
fashion industry by performing modelling or acting. This require them to have the cosmetics that
help them in looking good and preparing them for their performance without harming their skins
within such an early age. But the major issue within Malta industry is that there are larger
number of cosmetics organisation are present but they all deals within offering of products that
are prepared while keeping main focus over the customers that are in their adults (Ciriminna and
et. al., 2016). Despite of this there is not any organisation available which create cosmetics by
considering the skin requirement of children as the products of adults usually remain harsh to the
skin of children. But due to unavailability of such products the majority of people within the
fashion industry apply those harsh chemical products to the skin of children or females as a result
of which it affect their skins in term of creating bumps, marks, breakout or even sometimes
results into skin cancer which is one of the most riskiest thing (Barel, Paye and Maibach, 2014).
Therefore, it can be said that within the market of Malta there remains a huge requirement for the
cosmetic products for the children and female in their early age in order to reduce the issues that
people are mainly facing due to skin exposure to harsh cosmetics. Therefore, it is a greater
opportunity for the Ultra Beauty Cosmetics within the market of Malta as it is going to offer the
cosmetics products to the children as well as females which are designed while considering the
major need as per their skin type and age. The new product of Ultra Beauty cosmetics is herbal
cosmetics of female and children (Selpa-Rivera, 2015). As there is increment in trends for
requirement of cosmetics for children, so it is possibilities of getting growth is more.
Industry Feasibility- The industrial feasibility is basically refers to the process of
evaluating the several factors that are present within the industry in order to determine that
whether the situation of industry would remain favourable or against to the business idea of
Ultra Beauty cosmetics or not (Larasati, Yasri and Abror, 2019). This support in adjusting the
business idea as per market requirement along with determining the threats or opportunities that
22

are present in front of the organisation. Ultra Beauty cosmetics is going to come with cosmetic
products which is important and specific for people to deal with changes properly. This is the
sector which is growth but at the same time, there are many changes which are taking place in
this industry, so partners of Ultra Beauty cosmetics must evaluate legal, political and other
external market components associated with this industry (AUGUSTINE,
BHAVANAVENUGOPAL, KALARIKKAL and THOMAS, 2016). The cosmetic market of
Malta consists of around 500 million consumers that are being served by the single and
harmonised piece of legislation which directly get applied among all the member state of EU.
These regulations mainly focuses over the consumer health and protection that may get
influenced by the use of cosmetics products. These regulations are related with the monitoring of
composition and labelling Hence there are some legal laws and regulations which has to be
fulfilled because cosmetic industry is specific and particular about quality of products. Apart
from this there is important role of percentage of competition in industry (Lunt and et. al., 2014).
As in Malta, there is high competition in cosmetic industry, then it is tough for Ultra Beauty
cosmetics to operate but they have new range of product i.e. cosmetic products for children who
wants to ready for photo shoot, pictures, etc. and they is no other organisation providing organic
products at affordable prices.
Research limitation
The current report is about the business plan of Ultra Beauty cosmetics which is planning
to start its business by developing outlets within Victoria city of Malta for offering the cosmetic
products by targetting the children and females. But while performing this investigation number
of limitations are being identified by the investigator such as time provided for the investigation
was very much limited which restrict the investigator to present the detail information regarding
the market as the cosmetic industry is very broad and to study it properly it require larger amount
of time period. On the other side the investigation is also performed using secondary sources
only which is quite helpful in determining the situation of industry and opportunity that are
present. But if the primary information can be gathered over this area then it would be more
helpful for the Ultra Beauty cosmetics as it will then support in determining the views of
customers about the product that it is going to offer in marketplace. This will support in
determining the actual views that customer hold toward the offering of the Ultra Beauty
23

cosmetics along with the demand they have toward the organisation and its offering. Therefore
another limitation of this investigation is that research get restricted to the secondary data only.
DATA/ RESULT ANALYSIS
Clear presentation of results based on the strategic analysis
For achieving the success as well as sustainability within Malta it become crucial for the
Ultra Beauty cosmetics to conduct the strategic analysis in effective manner which support in
determining the feasibility of project. Additionally it also support in forming up the effective
strategies that support in operating the business activities in effective manner (Borg, 2017).
Therefore the Ultra Beauty cosmetics performed strategic analysis by making use of Porter's five
force model which performs the evaluation of five major factors present within the industry
which support in determining the actual position of the organisation (Lunt, Horsfall and
Hanefeld, 2015). By performing porter's five force model following information has been
gathered,
Bargaining power of buyer:- The bargaining power of the buyers within the cosmetics
industry of Malta is relatively higher as the competition within the industry is relatively higher as
a result of which customer have larger number of products from which they can choose to
purchase (Ángel, 2019). This in turn increase the chances of getting brand switch so frequently
among the customer when the cosmetics are being offering similar benefits at relatively lower
price. But apart from this risk there remains an opportunity for The Ultra Beauty cosmetics as
they can attract the early age children and women toward their products or services by
introducing them with its benefits (Bijaoui, 2016).
Bargaining power of supplier:- The bargaining power of supplier within the cosmetic
industry is relatively lower as there are larger number of supplier available within the industry
that are offering raw material for producing the cosmetics (Carr and Lorenz, 2014). Therefore the
Ultra Beauty cosmetics that offer cosmetics product can approach suppliers as per their budget
and quality they need for producing their cosmetics products. It also act as an opportunity for the
Ultra Beauty Cosmetics as it is going to establish its business and for getting supplies it can
bargain with the suppliers as per their budget and comfort (Frynas and Mellahi, 2015).
24

Threat of Substitute:- The threat related with the substitution of product is relatively
lower as there are very few options that customers can use for switching the product but being in
fashion industry customers are required to use cosmetic products for their events and shows
(Savona-Ventura, 2016). The alternatives of skin care product are home remedies as well as
other skin products that are mainly created at home or with the help of Ayurveda. But majority of
people think these kind of substitute as old fashion which take more time which is beneficial for
Ultra Beauty cosmetics as it help them in keeping the customers align with its offerings.
Competitive rivalry:- The competition within the industry is relatively higher as there
are larger number of players already operating as well as offering range of cosmetics to cater the
different need of people (Porter Lofaro, 2016). This in turn make it more difficult for the Ultra
Beauty cosmetics to deal in this marketplace but as it is planning to cater the need of unique
target market i.e. cosmetic products for the young age children and women having the age group
between 4-18 years. This make it possible for the Ultra Beauty cosmetics if the quality of
product is high.
Threat of new entry:- The cosmetics and skin care industry is more competitive which
attract the new entrant to perform its operations within the industry in effective manner (Curwen,
and Whalley, 2015). But there are larger number of entry barrier that are imposed by existing
players which make it difficult to operate business operations at initial stage but when it get enter
into market it become easier to deal with the market factors present.
25

Appropriate analytical interpretation of results
According to above mentioned strategic analysis, it has been determine that there is an
intense level of competition or opposition among companies within fashion industry that directly
impact over Ultra Beauty Cosmetics overall productivity and profitability ratio. However, the
bargaining power of buyer is relatively high whereas supplier has low bargaining power because
there are several firms are available inside industry. Additionally, Ultra Beauty has less threat of
substitute because no other company has been taken an initiative in delivering organic cosmetics
for young females and children. Furthermore, it has a less threat of new entry because fashion
industry contain several rules and regulation that restricts companies to enter into market with an
aim of exploring its market share (Glen and et.al., 2015).
Application of result to research objective and literature
It has been signified from the above explained report that with the rapid growth of
fashion industry, it provide enormous opportunities for companies to explore its sales
performance in a better way. Along with this, due to the increasing demand of health conscious
product among customer as well as desire of parents to send their children towards fashion
sector, it generate an impressive level of opportunity for Ultra Beauty Cosmetics to obtain profit
maximisation in an efficacious and expeditious manner within prescribed time limit. However,
with the proper utilisation of available resources and examining the competitors potentiality, it
enable Ultra Beauty to acquire best position within fashion industry in a stipulated time limit
without any hindrances (Boh and Strom, 2016).
To study about the business plan of Ultra Beauty cosmetics.
In every form of organisation, the concept of business plan plays a significant role as it
help establishment to identify its potentiality and also empower them to tackle corrective course
of action in order to obtain customer satisfaction in an amended manner. In relation to Ultra
Beauty Cosmetics, for attaining sustainable long term growth and development they make an
initiative in develop a business plan which help them to understand the overview of present
market condition. Moreover, it also motive them to take corrective course of action by
developing best strategies, tactics, techniques in order to meet out the requirements of targeted
audience in a n improved manner. However, Ultra Beauty Cosmetics make an attempt to produce
organic cosmetic products for young females and children as majority of UK population are in
demand of getting healthy and hygienic skin care commodity. Moreover, the product which Ultra
26

Beauty Cosmetic render is that lipstick, foundation, mascara, oil, shampoo, Kohl by keeping high
quality with an intent of acquiring high level of profit margin ratio. Along with this, company
takes an initiative in dealing its services through manufacturing and retail division as well as
company is operating its business process in partnership form. Furthermore, company also
contain shareholders who are obliged to acquire an amount of profit share that motive them to
sustain with brand for longer time duration. Apart from this, Ultra Beauty Cosmetics make an
effort to make use of available resources and also examine the competitors potentiality which
assist enterprise to survive within industry for long term in an competent manner (Tidwell,
2015).
To evaluate the marketing mix and STP framework for successful establishment of
business.
For gaining competitive advantage, an effective marketing mix help establishment to
identify its customer demand or requirements as well as aid them to analyse competition in order
to produce suitable product for providing high level of satisfaction to targeted audience in an
amended way. In regard of Ultra Beauty Cosmetics, they make an attempt to offer wide range of
organic cosmetic items for young females and children like lipstick, mascara, foundation,
shampoo, oil, Kohl. In addition to this, for retaining current customer and also to attract the
attention of new consumer towards brand, Ultra Beauty applies market penetration pricing
strategy in which product price will be lower in compare to other competitors (Harrison and
Lock, 2017). Due to such effort of company, it assist them to maintain its customer base and also
lead them to improve its sales volume in an amended manner. Furthermore, organisation has
taken an initiative to set its market outlet in three location i.e. Victoria, Gozo which is very
convenient and access to all mode of transportation that impose positive response among
population in terms of gaining satisfaction of demand. Additionally, Ultra Beauty utilise omni
channel to promote its product such as advertisement in TV, developing web pages, social media
platforms, bill boards that help firm to reach large number of audience in an impressive style.
Moreover, for improving customer base and productivity ratio, Ultra Beauty recruit talented
manpower and also some pharmacists so that organisation can maintain its product quality as
well as can place its brand in a competent position. Additionally, Ultra Beauty segmented its
market on the basis of demographic criteria and also targeted young females ( age between 4- 18)
27

which assist them to positioned its brand in an aggressive position and also to enrich its brand
reputation in a positive manner.
To discussion about the Business canvas model for studying role of other parties in order to
operate Ultra Beauty cosmetics in effective manner.
For accomplishing the pre determined goal within desired time limit, proper allocation of
resources help organisation to attain the same in an improved way. However, with the
implication of business canvas model it enable organisation to acquire clear scenario what is to
be achieve and eliminating all the fluffs from traditional business plan in order to save time, cost
and energy. In context of Ultra Beauty Cosmetics, they analysed its key partners as a customer,
investors, suppliers which enable establishment to attain sustainable growth and development in
an amended way (Riis, 2017). IN perspective of its value proposition, they are mainly aim for
producing organic product in an affordable price and also segmenting its customer for young
females and children. Additionally, for maintaining customer relationship for longer duration,
organisation make use of different promotional activities like social media platforms, billboards,
advertisement as well as offering discounts over products. However, Ultra Beauty key activity is
to provide best training and development to employees, conducting market research, recruiting
skilled manpower, adopting suitable marketing channel that lead them to promote the brand
among competitors in an improved manner. Furthermore, they also make an attempt to distribute
its profits through retail stores and online website which improves brand image in an impressive
style.
To evaluate the strategies that support Ultra Beauty cosmetics in increasing its sales and
revenue in industry.
In order to acquire aggressive and competent position, utilisation of appropriate
promotional techniques enable organisation to explore its brand reputation in an impressive style.
However, in context of Ultra Beauty Cosmetics, they make an effort to use different promotional
tools such as advertisement in TV, social media platforms, billboards, creating web page which
empower company to cover larger number of population in a better way. Additionally, it drive
them to understand the market trend and competition as well as lead them to implement best
strategic decision in order to gain competitive advantage. Moreover, establishment can easily
maintain its product quality and also can enlarge its market share or size within stipulated time
period among rivalries. Furthermore, by implying these promotional techniques, it assist firm to
28

enrich its sales performance and also can cope up with all emerging market opposition in an
effective way (Ajibade, Agboola and Garschagen, 2016).
29

Identification of sources of competitive advantage and sustainability
Ultra beauty cosmetic is coming up with a new business idea that includes providing
cosmetic products to a target audience that includes young females and children of age group 4
to 16 years (Ramraika, and Trivedi, 2016). It has been analysed that none of the existing
organisation are offering cosmetic product to this age group thus, its target audience is providing
it a competitive advantage (Rabah, 2017)Beside the the core competencies of Ultra beauty
cosmetic that facilitates and are the main sources of competitive advantage and sustainability for
Ultra beauty cosmetics are as follows:
Use of organic material: the biggest strength of Ultra beauty cosmetic is that they are
making use of natural ingredients and organic material to produce and create its cosmetic product
thus, minimize the chances of harmful impacts and implication of products on skin and health of
target audience i.e. females and child of 4 to 18 years (Bilgihan and Wang, 2016). Thus, it use of
organic material is facilitating a competitive advantage to Ultra beauty cosmetic and also lead to
sustainability of this organisation through making its product unique and superior with other
products offered by competitors (Topaloglu, McDonald and Hunt, 2018).
Product testing by pharmacist: to ensure the safety of product and reduce the negative
implication and harmful effects of product a pre testing of each product is done by Ultra beauty
cosmetic with the help of a pharmacist (Löbler, 2018). This yield a competence to Ultra beauty
cosmetic through fulfilling legal provisions of health and safety act lead by new regulation of EU
thus, lead to better image in the market which facilitates competitive advantage.
Effective R&D process: a continuous research and innovation are necessary for creating
and development of better products thus, effective R&D process are also enhancing the
capability of Ultra beauty cosmetic through making it able to deliver and produce best cosmetic
product (Della Corte and Aria, 2016). Therefore, providing competitive strength to Ultra beauty
cosmetic in the businesses environment and attract a larger number of customers for new and
better cosmetic products.
Selection of strategies for success
As per preceding explained content, it has been stated that Ultra Beauty Cosmetics make
an effort to examine the industrial changes and also implement suitable strategic decision that aid
them to reach its target in an amended manner. However, the industry where Ultra Beauty
operate its service is highly competitive for which there is an need of best strategy which help
30

company to understand the competitors capability and also aid them to impose best decisions.
Hence, Ultra Beauty applies Porter's Generic Strategy model to analyse the degree of
competition and interpret the same in an effective manner which is described below:
Cost Leadership: Under this, Ultra Beauty make an initiative to improve its internal
operation so that they can obtain profit maximisation even after delivering the product at low
price. Hence, firm maintain and mange its operational cost by utilising the resources at optimal
level that prevents firm by acquiring any sort of major loss from final profit margin ratio
(Alnoukari, Razouk and Hanano, 2016). Along with this, with the usage of cost leadership
strategy organisation can penetrate its product in an existing marketplace as well as can produce
best quality of product which benefits them by increasing its customer base in an impressive
mode.
Differentiation: With the application of this component, it assist Ultra Beauty to
differentiate one or two attribute of its product like offering organic cosmetic items for young
females and children which drive them to achieve high level of growth and enrichment of
productivity.
Focus: In this determinant, Ultra Beauty mainly focus over cost and differentiation that
motive them to explore its proficiency ratio. In perspective of cost focus, company deliver its
product in moderate pricing strategy by maintaining high quality. On the contrary, in term of
differentiation focus, firm acquires the strategy of niche market that means implementing
required modification as per changes in business environment (Che Ibrahim, Costello and
Wilkinson, 2016).
Development of appropriate Business Model for the business
Development of an appropriate business model is essential and beneficial for an
organisation as it provide guidance and a framework to work effectively and coordinate all
business activities and function to ensure timely achievements of targets (Clauss, 2017). Use of a
business model canvas is made by Ultra beauty cosmetic to provide clear picture and establish a
structure that yield clarity in producing and manufacturing products in a profitable way. With
proper analysis of market and totemistic industry of Malta it has been evaluated that the cosmetic
industry is growing with a rapid speed thus, providing cosmetic product is a good option to earn
better profits (Schaltegger, Lüdeke-Freund and Hansen, 2016). It has been seen that none of the
competitors and market players of Malta is focusing or providing cosmetic product to age group
31

of 4 to 16 year old children and females. Thus, the business model of Ultra violet is having a
target customer segment that includes young females and child thus, provide a large consumer
base to earn adequate amount of profit (Wüstenhagen and Boehnke, 2017). Beside the, the key
partners of Ultra beauty cosmetics includes its customers, suppliers, investors and the experts
individuals which lead to creation and development of unique and organic product which are not
harsh and harmful for the soft skin of children and also provide long lasting impact and
experience on customers.
The further stages of business model development is associated with key activities of
Ultra beauty cosmetic that includes requirement of talented staff and workforce for production of
best quality product together with maintaining a positive and friendly environment at the outlets
of Ultra beauty cosmetics that provide better interaction between employees and customer thus,
helpful in maintaining a long lasting relation with customers (Shevelova and Plaskon, 2018).
Beside this, production and sale of cosmetic items for young female and child is the main
function and activity of Ultra beauty cosmetic (Linder and Williander, 2017). Timely training
and development programmes are also provided to employees to improve their skills and make
them more competent and productive to achieve the targets of organisation. Further to fulfil the
rules of new European regulation and laws related with safety of consumers, a product testing
with the help of pharmacist is also done by Ultra beauty cosmetic as the skin of children is soft .
Thus, the cosmetic product are made of organic material and natural components and ingredients
to reduce the chances of harmful impact of product (Adeyemi, 2018).
The business model of Ultra beauty cosmetic also includes a planning about the
distribution channel which includes the way through which it can easily provide and supply its
product to customers (Adeyemi, 2018). The key resources of Ultra beauty cosmetic includes
talented workforce, adequate amount of capital and an effective R&D department that ensures
development and production of best quality product for the target audience. Beside this, to have
effective relation with customers and develop an effective communication with them use of an
appropriate marketing and promotional strategy is made by Ultra beauty cosmetic that includes
use of TV and digital advertising, social media, web pages, bill boards together with all possible
online channels (Cizek, 2016). The distribution channel of Ultra beauty cosmetic includes
establishment of three outlets and retail store at the three prime location of Malta. Beside this, an
online site will also be created that will provide a easy way to customers to assess and review the
32

products of Ultra beauty cosmetic. Thus, the business model of Ultra beauty cosmetic is
effectively planned and ensure the success of business in the growing cosmetic environment and
market of Malta (Gough, Oliver and Thomas, 2017).
Appropriate synthesis and evaluation of research results, inferences and implication
The evaluation of research findings has reflected that a emerging market for cosmetic
industry is prevailing in the business environment of Malta which is creating opportunity and
better chances for Ultra beauty cosmetic to have success in the field of cosmetic industry (Elder
and Paul, 2019). To grab this opportunity Ultra beauty cosmetic is planned to come up with a
range of new cosmetic product that includes lipstick, mascara, oil, shampoo, Kohl, liner,
foundation, etc. and targeting the customer segment of females and child belonging to age group
of 4 to 18 years. A high level of competition is also seen the cosmetic industry of Malta thus, to
cope up with this negative implication and build an effective and better place for itself in the
market, use of its core internal competences i.e. organics product, testing of product by
pharmacist and effective R&D processes are made by Ultra beauty cosmetic to ensure its success
and sustainability for a longer period of time (Grove, Gray, and Faan, 2019).
The interference and implication of results are associated with the strategies and business
model of Ultra beauty cosmetic which includes how the organisation is going to meet its
objectives and targets in most profitable way. It has been analysed that Ultra beauty cosmetic is
making use of business model canvas which clearly and properly describes and provide
information about all the aspects of a business model (Kish, 2017). Beside this an effective
marketing mix together with information about the segmentation, targeting and positioning of
product is also provided which enhance the chances of success of this organisation in business
environment of Malta (Firestone and Donaldson, 2019). The various strategies and plans adopted
by Ultra beauty cosmetic includes a range of organic product for a target audience of female and
child of age group 4 to 18 years which are provided at affordable rate so that a larger section of
customers can be attracted. Beside this, an effective distribution channel together with a use of
online and digital mode of advertising is also made by Ultra beauty cosmetics to have better
promotion and marketing of its product(Mislevy, 2019).
33

DISCUSSION, CONCLUSIONS AND RECOMMENDATIONS
Business plan schedule from raising capital stage by state/setting out key events / resource
requirements for successful operation of the business model
From the above information it can be said that the business development model which is
produced for Ultra Beauty is effective and can help the company in increasing its sales by
offering cosmetic products which are suitable for children's use. However for properly executing
the business plan in Malta the company will require funds so that the objectives of company can
be achieved. Some of the funds are mentioned below:
 Start-up capital requirements: It the amount of funds which will be required by Ultra
Beauty for setting up its business successfully in Malta so that all the processes in
manufacturing of cosmetics can be made available to company. The required funds
for various activities are distributed as follows:
Activities Fund
Setting up of factory £500000
Staff recruitment £40000
Purchasing inventory £70000
Tools and machines required £90000
Training and development £30000
 Finding start-up capital funding sources: For carrying out the activities in an
efficient manner so that company goals can be achieved it is important to determine
the sources of funds so that the appropriate amount of funds can be assembled. The
company is planning on gathering 50% of funds from the shareholders, 20% funds
from bank loans and the remaining 20% funds will be generated from other financial
institutions so that the required amount of funds can be gathered.
 Revenue: The revenue of company will depend on the amount of sales of company
products which are cosmetic products suitable to be used by women and children
between the age of 4-16 years. As the awareness of people regarding their looks is
increasing, the demand for cosmetic products is increasing. Also the increase in
34

participation of children in fashion show and other beauty contests, the increase in
demand for cosmetic products for children is also increasing which will help in
increasing company sales.
 Potential return on investment and profit margin: It provides the information
regarding the percentage of return which will be earned by investors from the profits
which will be earned by the company. The potential return on investment for
investors is about 30% and the estimated profit margin is 33%.
Return on Investment
Description Year-1(£) Year-2(£) Year-3(£)
Net Profit 45000 50000 54000
Investment 100000 115000 125000
ROI 45.00 43.48 43.2
From the above table it can be interpreted that net profit for Ultra Beauty in the first year
would be £45000 when the investment will be £100000 which will give a return of 45%. in the
second year the return on investment will be 43.2% on an investment of £125000. the rate of
investment is high which helps in attracting more number of investors over the years which is
beneficial for the progress of business.
Profit Margin
Description Year-1(£) Year-2(£) Year-3(£)
Operating profit 20000 40000 70000
Revenue 180000 200000 225000
Profit Margin 11.11 20.00 31.11
From this table it can be interpreted that operating profit of Ultra Beauty would be
£20000 in the first year, £40000 in second year and £70000 in third year. Apart from these
profits the profit margin of Ultra Beauty is 11.11% which keeps on increasing gradually to 30%
and 31.11% in the succeeding years.
35

These are the funds which will be required by the company in establishing its business in
Malta. For promoting the products of the company it will organise an event where skin
professionals will be present to help customers in selecting among the products according to their
skin types. This will help in gaining loyalty of customers and also attracting them to make their
future sales from the company.
Appropriate synthesis between research and literature :-
In order to set up the business of Ultra Beauty in Malta so that sustainability can be
achieved which will help in increasing company sales, a market research is conducted so that the
opportunities and threats related to the establishment of cosmetic industry can be studied in
detail. Through the market research it has been found out that the cosmetic industry has great
opportunity in the market as children are increasingly participating in fashion industries which
increase the demand of cosmetic products which are suitable for their skin. This has increased
the demand of cosmetic products in market which will help in successful survival of business.
From the literature review it can be analysed that though there is a presence of many companies
in Malta market which sell cosmetic products, they offer them at higher prices. This is the reason
Ultra Beauty is adopting penetration pricing policy which will help it in capturing the market by
selling its products at lower costs. Thus literature review help the company in providing useful
information which will help it in increasing its sales and making an effective marketing mix so
that more number of customers can be attracted. Thus both the research and literature review can
be used by the company in formulating strategies that can help it in establishing the company in
a profitable manner.
Effective completion of aims and objectives set :-
The main aim of the company is to develop strategies which will help it in increasing its
sales and revenue in the industry which is done by the company by establishing its unit in Malt
and manufacturing cosmetic products which can be used on children without causing any side
effects. The company can achieve its objectives by firstly conducting a market research so that
the market condition can be studied which will help in determining the condition of market and
also the demand which will help in increasing the profits of company. The company will
synthesize cosmetic products which will help the women and children to use them as they
participate increasingly in the fashion industry. The company has efficiently used STP and
marketing-mix which will help it in delivering the products to customers at desired place, price
36

and time which will help in improving the brand image of company. The company has
determined the sources of funds from which it will acquire the required amount which is to be
invested in the project so that effective results can be achieved.
Evaluation of main concepts and issues and discussion of critical success / failure factors
The concept of cosmetic products which are suitable for children is a new to Malta which
is an innovative product and will help in attracting a large number of customers as the
participation of children in fashion industry has increased. The cosmetics will have no side
effects on the skin of children and also females of the society can use these products so that to
look beautiful and attractive. This will help Ultra Beauty in increasing its sales and thereby the
profits of company will increase. However some risks that can be faced by the company are; Competition: As the awareness of people towards looking good has increased along with
the increase in participation of people in the fashion industry, there are many companies
in the market which offer cosmetic products in different colours and fragrances. This has
increased the competition for Ultra Beauty in the market which is a risk for the company
to establish its business in Malta.
Solution: For efficiently dealing with the competition, Ultra Beauty will manufacture
products which are skin friendly for children belonging to the age of 4-16 years. Also the
company will use penetration pricing policy and offer its products at affordable prices which will
help in increasing the company sales and will also help in dealing with competition.
 Raising of funds: As the establishment of company in Malta requires a large amount of
funds it become difficult for the company to arrange the required funds so that the
company objectives can be efficiently achieved.
Solution: In order to deal with this problem the company will collect maximum amount
of funds from its shareholders which will help the company in easily acquiring a large number of
funds for the project. The second source which is chosen by the company is bank loans which are
non-risky and highly reliable sources. This will help the company in accumulating required
amount of funds for the project within time.
Recommendations
Potential applications of findings to future management / policy or research issues
As the company is planning on establishing its business in Malta there will be cultural
diversity of employees in the organisation which will increase conflicts among them and might
37

hinder the business to run in a smooth manner. This can be dealt by the company through regular
training and development programmes, promoting equality and diversity in the workplace,
giving equal opportunities to all the employees etc. Other issue which can be faced by the
company can be increased opposition of local people for cosmetic products which can be used by
children. It is thus recommended that the company regularly provides free samples which can be
used by children so as to win the trust of people in company products. Also the company can
promote its products through campaigns which restrict the use of adult cosmetic products on
children so that awareness about the harm they cause on children's delicate skin can be created
which will also help in increasing the sales of company.
38

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