Business Plan for ASOS: Feasibility Studies, Market Opportunities, and Vision

This business plan for ASOS covers the motivation for choice of business, the process of generating the business idea, feasibility studies conducted, details of the product/service to be offered, potential market opportunities, attractiveness of the industry, and vision for the business.

ENTERPRISE
AND
ENTREPRENEURSHIP

Table of Contents
◦ INTRODUCTION
◦ TASK
◦ Motivation for choice of business
◦ The process you went through to generate this business idea
◦ Feasibility studies conducted
◦ Details of the product/service to be offered
◦ Potential market opportunities
◦ Attractiveness of the industry
◦ Vision for business
◦ CONCLUSION
◦ REFERENCES

INTRODUCTION
Business plan is a map that outlines objectives of business
and along with this it provides a way to achieve the same.
Therefore the plan provides the details about the
marketing, financial and operational perspectives. This is
essential for analyzing the impact of external and internal
audience.

Motivation for choice of business
Introducing a business is not an easy task rather it requires certain to tactics. Therefore prior
considerations like money, hard work, patience and understanding the foundation of business
is to be involved. The reason to initiate a business of ASOS are-
◦ In order to have increased control over success
◦ In order to become own boss
◦ Sense of Accomplishment
◦ Enhancing Personal financial status

The process you went through to
generate this business idea
The term Business idea refers to the financial gain
associated with the product or services offered by
the business. For ASOS it was the first step that was
made with the aim of making business
successful(Hledik and Lee, 2021). . The techniques
that were followed by ASOS in context to generation
of business is as –
◦ Process of Reverse brainstorming
◦ Brain netting
◦ Role-storming

Feasibility studies conducted
It is the detailed examination of all the important
aspects of proposed business in order to assess
the impact of success associated with the
business. Success of business can be associated
with return on investment or the profits
generated. Project managers of ASOS find this
study very helpful in determining the risk and
what factors to be considered by them before
moving further with any plan(Popescu,
Valaskova and Horak, 2022).

Details of the product/service to be offered
◦ ASOS being a fashion and beauty retailer
offers lifestyle products. The range of its
products varies from clothing to cosmetic
products.
◦ Its clothing portfolio includes- tops, dresses,
vests, shirts, trousers and leggings, workwear
suits, skirts, jeans, shorts, jackets and coats and
shoes(Chen, Tang and Tang, 2021).

Potential market opportunities
◦ This represents the potential of organisation in
context to reach of market and sales area. This
also provide the glance of the customers that
belong to the business of ASOS. ASOS conduct
the marketing opportunity analysis in order to
determine that whether it can bring on the new
products, the way it can sell more of its
existing products and achieve a remarkable
growth.

Attractiveness of the industry
The factor attractiveness represents that how
potential is the business to enter the industry and
compete with other industries. Attractiveness of
ASOS can be measured by using Porter's five
forces model-
◦ Buying power
◦ Supplier power
◦ Availability of substitutes of products and
services
◦ Threat of new entrants
◦ Rivalry

Vision for business
A vision statement clearly demonstrates the purpose of business to exist. The vision of
ASOS is to become the world's number one fashion destination for fashion loving 20
things(Menon, Sampath and Kaarthik, 2021).

CONCLUSION
◦ The report prepared above of ASOS has clearly
demonstrated the reason for initiating up a
business. The motivational segment that the
founder of ASOS persist is clear and exciting.
Certain process and techniques are considered
with respect to the generation of business idea.

REFERENCES
◦ Ahi, A., Kuivalainen, O. and Bahreinian, M., 2019. A systematic approach to
international market selection: measuring the attractiveness of emerging economies in
the case of the timber industry. International Journal of Export Marketing, 3(2), pp.105-
118.
◦ Alfayad, F.S., 2019. Huawei and the Gulf region: Market opportunities despite the
ongoing US-China tradewar. International Review of Management and
Marketing, 9(4), p.47.
◦ Cavalcante, J. and Gzara, L., 2018. Product-Service Systems lifecycle models:
literature review and newproposition. Procedia CIRP, 73, pp.32-38.

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