Entrepreneurship Assignment

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Running Head: Post Graduation In Entrepreneurship
Post Graduation in Entrepreneurship
Institution
Lecturer
Student
Course
Date

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Post Graduation In Entrepreneurship
Customer Development and the Value Proposition
Customer development is a necessary activity for the start up businesses. It involves identifying
potential customers relevant for your business. It involves getting out picking important facts
about the customer characteristics of your intended products, and devising ways on how to
effectively reach them.
Identifying the potential customers is the primary step to establishing a sound enterprise. They
form the most important backbone of the business. They comprise of all the people with different
characteristics, ranging from both men and women, who will comprise a bigger part of the
organizational domain.
A start up cosmetics industry targets mostly a larger percentage of female customers. The
characteristics of the potential cosmetic products depend on the ability of the enterprise to fulfill
the expectations of the customers from the effectiveness of the product offered. The product has
to add value to the experience of the customer in what is referred to as the value proposition.
The value in the products should add memorable results in customers experience by addressing
their needs. For instance, if the customers have had skin problems, offering them a skin care
product that perfectly cures their problem will appeal to their expectations develop a strong
belief in what the business is offering them.
The value proposition of the product to the customers will definitely get incorporated in the
marketing strategy as the main marketing point to the customers about what value the product
will add to their experience, and this will involve promotional activities, advertisements amon
others. Then lastly, in the customer discovery process, there will be evaluation of the customer
feedback that is, their reaction and views about the product.

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Post Graduation In Entrepreneurship
Leading the Team
There is very high significance in having a determined leading team for your business venture.
The management is an integral part of a successful business because they are in charge of all the
important decisions that are supposed to propel the organization to the right direction. It is
imperative that the venture have a perfect leading team.
Therefore, in a new venture such as the cosmetics enterprise, my best position would be the
Chief Executive Officer. In this role, coordinating all other functional operations of the venture
would be much easier. This is because, coordination is important in the process but this can only
be initiated by the CEO within the team.
However, equality and teamwork is a basic requirement for the team. The team morale should
always be high among the team. The closely knit leading team will ensure a determined approach
that would engage the customers and yield the desired results in getting the product to the market
and developing new customers for the venture.
Coming up with the right people requires a close analysis of the venture. It is better if the
management have the people with the knowledge of cosmetics within the team. Identification
and selection of the team requires a close look at the people’s determination for the role ahead of
them, selflessness, and the desire to succeed.
The success of the business most of the time will depend on the decision arrived at by the people
in the managerial team. To ensure a coordinated team, as the CEO, acting on the same level as
my juniors who are the major implementers is crucial for the enterprise. The venture’s vision will
lie on the ability of the business to offer solution-oriented products to the customers, and internal
inspiration for the success of the team.

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Post Graduation In Entrepreneurship
Creating a Unique Activity System and Competitive Strategy
The cosmetics business venture will approach the market from a positive point of view. This
means that the management will aim at creating a lasting impression the potential customers’
perceptions. The goal lies in how well the product will perform within the market.
The main strategy to systematically approach the market through test-and-fix approach whereby,
there will be free trials of the products using specific promotional strategies, create awareness
about the product and by evaluating the consumers’ feedback, then the management would be
able to make necessary changes.
The competitive advantage for the venture will lie in favourable pricing, provision of the quality
products, shrewd marketing strategy, with the adoption of 4Ps principle of marketing and taking
a customer-oriented approach to service provision.
The illustration below shows the venture’s roadmap.
Cosmetics Business
Venture
The Management
(Policy formulators)
>Brand recognition
>New market share
>Sales
>Business growth
>Competitive strategies
>Marketing strategy
> Customer
development,
> Value proposition.