Enterprise and Entrepreneurship: Future Business Plan, Target Customers, Competitors Analysis

Enterprise and
entrepreneurship

Table of Content
INTRODUCTION...........................................................................................................................3
Future business plan....................................................................................................................3
Target customers.........................................................................................................................4
Competitors analysis...................................................................................................................4
Skills analysis..............................................................................................................................5
Projected 2 years financial statements........................................................................................5
Sources of funding......................................................................................................................8
Plans for obtaining tangible and intangible resources.................................................................9
Management information systems..............................................................................................9
Vision for business idea............................................................................................................10
CONCLUSION..............................................................................................................................10
REFRENCES.................................................................................................................................11

INTRODUCTION
Enterprise and entrepreneurship can be understood as one of the widely raising aspect
within business industries where Natural Essence plans to open up organic beauty products for
varied range of consumers. The report will be discussing future business plan, target customers
and competitors within global industry domains and various new skills which are needed
among company for reaching the vision at wider aspects. Study shall be also focusing on
tangible and intangible resources, management information systems and wider reach among
stable consumers oriented services.
Future business plan
The Natural Essence plans to bring on various range of organic beauty products ranging
from body oils, mists , scrubs and various other products varieties which will be also customized
based on customers preferences. The innovations will be strategically developed towards
gaining functional diversity among products for larger technical positioning form raging on
organic products, ingredients based on people skin and body preferences. Natural Essence has
been also productively focusing to bring on cultural ethical functional standards, focus on digital
marketing parameters and also technical strengths for which new efficacy and varied scale
domains have been analysed. Intellectual property rights such as trademarks, design patents
have to be formed on for innovative business growth goals, effectively keeping resources at
check for longer scale paradigms as strengthened assets. Natural essence aim to keep targets
within consumers goodwill aspects, also vision oriented services for larger scale functional
governance (JWoodside, Bernal and Coduras, 2016).
Target customers
Natural essence plans to focus on developing products and services of organic beauty
products where the innovations will be focused on targeting consumers which are health
conscious and also prefer chemical free beauty products. The products will be based on natural
fresh ingredients, locally organically sourced from farms and also widely focused on customers
preferences. Innovation and digital marketing will be specifically developed for forming
stronger fundamental reach among varied range of consumers, also to be imperative on gaining

collective revenue targets at frame. Natural Essence will be focusing on B2C business supply
range where consumers can be directly connected and also primitively developing wider
informative structure within longer run. The competitive organic beauty products have seen
various corporate innovations and new marketing domains for effective supply range, varied
products' categories which bring on larger efficacy scope. USP of Natural Essence will be based
on diverse range of beauty products for all age group consumers on which specific focus shall
be pertained on innovative marketing and business strategies fundamentally.
Competitors analysis
There are number of companies accessible in business world who are operating their
ventures in effective manner, among them certain could be considered as key competitors of
Natural Essence company including, VLCC health care limited, Dabur, Anjali Mukerjee health,
Oliva, Lakme, HUL etc. They all are the main rivals of chosen firm, its products and services.
Lakme is one of the biggest brand and organization competitors who have 17.7% market share in
cosmetic world, which allow them to gain competitive advantages. Furthermore, VLCC is
another rival of Natural Essence who have 63% market share in 2018 and increase in further by
selling quality goods. Dabur had highest market share among all its rivals in fiscal year 2020, it
has accounted for around 65%, it food category made around 16% of net sales. Target marketing
of Natural essence company can buy products and services of its rivals more than its own brand
because of effective and strong brand image that help competitors in term of gaining attention of
potential consumers and retaining them for longer period of time. Another reason in context of
buying behaviour of customers regarding rivals’ goods is their products quality and people trust
on those brands, which is really very important to develop for chosen company and its
management. Lakme and other companies provide assurance to people about products quality
and quantity as well that assist to drive consumers towards buy which in return increase sales and
profitability even better.
Skills analysis
The skills required for excelling in business ideas forward at Natural Essence will be
based on best cost leadership aspects , innovative marketing and new edged defined functional
avenues for developing innovation. There is also specific functional demand to evolve on new
customized beauty products range where there is varied scope horizons, divergent supply
structure shall be planned informatively. Business within organic beauty products shall be