Entrepreneurship in Cosmetics Industry

Enterprise and
Entrepreneurship

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Motivation for choice of business...............................................................................................1
The process to generate the business idea...................................................................................1
Feasibility studies conducted......................................................................................................2
Details of the product/service to be offered................................................................................3
Potential market opportunities....................................................................................................3
Attractiveness of the industry......................................................................................................4
Vision for the business................................................................................................................5
CONCLUSION................................................................................................................................5
References:.......................................................................................................................................6

INTRODUCTION
Entrepreneurship is defined as the generation of a product or service in the form of
enterprise having the skills to maintain business with professional management (WHAT IS
ENTREPRENEURSHIP? ENTREPRENEUR DEFINITION AND MEANING, 2020). The
following report is discussed about the creation of a new business proposition with the details
like why the particular business has been chosen, process of generating business idea,
feasibilities studies, what products and services are to be offered, studying about the various
market opportunities, industry attractiveness and vision of the business with final conclusion.
MAIN BODY
Motivation for choice of business
Chosen business is under Cosmetics Industry, Named as “Elegant Touch” with tag line
“Shine like a pearl” which means graced glow on face that have a natural shine like pearl.
Reason behind choosing this sector is that now a days people are getting conscious about their
skin, they are always searching for minimised chemical products and more of natural ingredients
in it. So this business aims at this concept only for both men and women. Moreover, it is used by
almost everyone at all ranges from lower to higher, it is having personal customer experience,
rising of influencers on social media, easy in showcasing the results, niche marketing and the
most important that this concept is demanded by the people (Ahl and Marlow, 2019).
The process to generate the business idea Brainstorming: This technique is applied in this business by firstly, thinking about the
business which is most admired, used and relied on daily life, secondly, giving a thought
on problems that are most faced in a regularly and by using these information, many
business ideas are generated and among all of them, cosmetics is found to be appropriate. Focus groups: This technique is applied as by setting up a goal, finding the group of
customers, created report on their views, analysing them and starting implementation.
This is type of customer survey. Library: This technique includes research about companies in cosmetic industry, their
customers, competitors and collaborators by referring the books of great authors who
writes the business concept and market research report.
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