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Business Portfolio of New Venture - Assignment

   

Added on  2020-10-22

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Business Portfolio
Business Portfolio of New Venture - Assignment_1

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11. Business idea and the operational functions of Aurea Oil fragrance company. Keycompetitors of the firm and along customer satisfaction strategies.............................................12. Main objectives of the business..............................................................................................2TASK 2............................................................................................................................................2PESTLE Analysis........................................................................................................................2TASK 3............................................................................................................................................41. Defining the Launch event ......................................................................................................42. Producing a budget..................................................................................................................4TASK 4............................................................................................................................................4Market objectives.........................................................................................................................4Target Markets.............................................................................................................................4Marketing Mix Marketing strategies for each target market.......................................................5CONCLUSION................................................................................................................................5REFERENCES................................................................................................................................7
Business Portfolio of New Venture - Assignment_2

INTRODUCTIONBusiness portfolio is a company's set of investment, holding, products, business andbrands which ensures the sustainable development of plan within the company. This study willprovide the comprehensive business portfolio of new venture named as Aurea oil Fragranceswho is establishing its company as an online business.TASK 11. Business idea and the operational functions of Aurea Oil fragrance company. Key competitorsof the firm and along customer satisfaction strategiesAurea Oil fragrances company is going to establish a new venture in order tomanufacture various fragrance based production and the main idea of the company is focused atproviding natural fragrances to customers. This company come up with the idea of producingthe perfumes along with body sprays and deodorants in different sizes and packages in order tomeet the trend in the industry. Aurea enterprise has decided to manufacture the large variety offragrance items such as soaps, deodorants, fragrance oil and Joss stick etc. which spreadnatural and irritation free fragrance in the environment. This organization is going to operateonline business high street which helps in gaining a lot of popularity in this technology basedworld. Entrepreneur of Aurea Oil fragrance has developed effective networking strategy toattract large number of customers towards its attractive packaging and natural ingredientswhich are used in manufacturing of such perfumes. According to the UK market, all thefragrance oil companies provide large variety of fragrance but nowadays the people are moreconscious the use of chemical which affects health in the form of allergies. So this is the goodideas as most of the fragrance items generally raise allergies and itching in the body of customerso people will like the concept which is full of natural sustances. So this company uses thenatural ingredients to produce the fragrance oil products that is chemical free production.Providing the strong and variety of natural fragrance along with eco-friendly will meet thedemands of consumers. Aroma company, Just Cent organizations are the two most key competitors brands ofAurea Oil business. They are the strong competitors because Just cent is serving the customersince 15 years and this company has developed a strong relationship with customers (Hedley,2019). On the other hand, Aroma company are the UK's leading innovators of scent marketing.1
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2. Main objectives of the business.The main objectives of Aurea Oil fragrances are as follows:To deliver the highest level of professionalism and expertises knowledge in producingchemical free products and to offer high standard of services to meet specific needs ofcustomers.To provide allergy free and health conscious products.To promote sustainability by increasing the customer base.To offer affordable priced of natural fragrances in a large variety of attractive packagingwhich meets the demands of customersThis company has developed the business as a sole trader as the company is initiallyoperating the entity at smaller scale. As this is the start-up company which is easy to form andowner enjoys the sole control of the business profits. It also involves less paper work and it iseasier to maintain then other partnership firms or corporations. Sole trading also allows theowner in acquiring personal liabilities for the obligations of the business. This ownership is mostsuitable because it offers complete managerial control to the owner. However, the owner ispersonally liable for all financial obligations of the business (Business portfolio plan, 2017).TASK 2PESTLE AnalysisAurea oil fragrances company has used its strategic tools in order to analyse variousmacro environment factors which influence the main objectives of the business. Various macroenvironment factors are explained below:PoliticalAurea oil fragrance is start up business which easily gets affected by the political factors of UK.So this company has decided to examine political factors which influences the main objectives ofthe firm. Political factors the important role in determining the factors that can effect long termprofitability of the firm. As this company deal with natural ingredient which has its presence inthe international market so this enterprise need to concentrate towards availability of naturalresources from different places. It includes trade regulation and tarrifs related tp basicmaterial and legal framework for contract enforcement which effects cost of production andhence ultimately it influences the main objectives of the firm.Economical2
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