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Report on Entrepreneurial Group of Perfume Brand

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Added on  2020-05-28

Report on Entrepreneurial Group of Perfume Brand

   Added on 2020-05-28

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Running head: BUSINESS ENTREPRENEURSHIPNeoteric PerfumeBusiness Entrepreneurship
Report on Entrepreneurial Group of Perfume Brand_1
BUSINESS ENTREPRENEURSHIP1Executive SummaryThis report is being prepared for representing a business idea of an Entrepreneurial Groupwhich is a perfume brand. The report will give a brief explanation of the new idea i.e.perfume, and Neoteric name is given to this new brand of perfume which means fresh. Alongwith this, it will provide the mission of the product, the offering of the product. The reportwill proceed with the analysis of the market for the new product. It will work on identifyingthe target market for the product and its marketing which will perform the marketing mixstrategy. Further, the report will provide the financial plan and critical risk for the new idea.
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BUSINESS ENTREPRENEURSHIP2Table of ContentsExecutive Summary...............................................................................................................................1Introduction/Background of the Idea................................................................................................3Logo of Neoteric Perfume..................................................................................................................3Benefits of Using Neoteric perfume..................................................................................................4Fragrance.......................................................................................................................................4Enhances Mood.............................................................................................................................4Boosts Confidence.........................................................................................................................4Mission of Neoteric Perfume.............................................................................................................5Product Offering................................................................................................................................5Market Analysis.................................................................................................................................5Industry Analysis............................................................................................................................6Competition...................................................................................................................................6Australia’s Online Cosmetics and Perfume Sales...........................................................................7Primary Target Market......................................................................................................................7Marketing Mix...................................................................................................................................8Product..........................................................................................................................................9Place............................................................................................................................................10Price.............................................................................................................................................10Promotion....................................................................................................................................11Financial Plan...................................................................................................................................12Profit & Loss Account...................................................................................................................12Balance Sheet..............................................................................................................................13Cash Flow.....................................................................................................................................13Critical Risks.....................................................................................................................................14Entry in the market......................................................................................................................14Competition.................................................................................................................................15Conclusion...........................................................................................................................................15References...........................................................................................................................................16
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BUSINESS ENTREPRENEURSHIP3Introduction/Background of the Idea A concept which is used for receiving financial gain that is generally positioned on a serviceor product and offered to people in return for money is known as a Business Idea. The base ofa pyramid is an idea of the business. The characteristics of an effective and strong businessidea are: Unique and Innovative. The idea is about a perfume brand i.e. Neoteric which isgoing to be placed in the market of Australia. The managers of the company are planning toplace the office in Melbourne, Australia. Mr. Chris is the one who provided this idea of theproduct; he is the part of company’s marketing team and going to lead this project. Neotericperfume is the combination of vital oils of fragrance or compounds of aroma, solvents, andfixative used to provide the body of human, animals, objects, food and living spaces, adelightful scent. The company of Neoteric Perfume is providing different options to itscustomers in terms of fragrance, along with this the perfume can be used by men, women andalso for youth. Logo of Neoteric Perfume
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