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Entrepreneurial Marketing Sample Assignment

   

Added on  2021-01-02

12 Pages2792 Words85 Views
ENTREPRENEURIALMARKETING

Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................1EXECUTIVE SUMMARY.............................................................................................................1CONCLUSION................................................................................................................................8REFERENCES..............................................................................................................................10

INTRODUCTIONSocial media has become a popular platform for marketing and advertising the businessand business products. It refers to the tool which target social networks and applications tospread brand awareness. Due to the high use of social media tools it has become useful platformfor organisation to promote or to start a new business. To better understand this concept, a socialmedia marketing plan is being developed for Bloom Perfumery. Bloom Perfumery is an UKbased small and medium size enterprise which deals in unisex cosmetic items. The social mediamarketing plan has been developed for company which includes marketing audit, objectives,target audience, social media zone, experience strategy and expected budget for the plan isdiscussed under this report. Apart from this, operational issues for new venture and marketingtool is explained in this present report. MAIN BODYEXECUTIVE SUMMARYThis business plan summarises as social media marketing plan for the Bloom Perfumery.The different marketing operational issues are faced by the venture while coming up with plan.There are various marketing tools which are discussed along with the social media marketingplan. To execute marketing plan in effective it requires some skill set which is also discussedalong with plan.Marketing auditThe marketing audit is a important aspect of planning process. This audit is conductedthrough out complete marketing process of the product. This refers to the systematic evaluationand interpretation of business environment and current market situation (Teece, 2012). The auditfor Bloom Perfumery includes internal, external and SWOT analysis for company. Theseanalysis for company are discussed as below:Current market situation:The currently there is a good competition in the market but it is expected that health andbeauty market of UK is reached by GBP 26.7 billion by year 2022 (Health and Beauty Market,2019). The Bloom Perfumery have an opportunity to grow their market by using the social mediamarketing tools. As the spending in this sectors is increased from GBP 73 to GBP 487(Healthand Beauty Market, 2019). Product innovation and new ingredients will also support Bloom1

Perfumery to expand their market share. Consumers are now days becoming more consciousabout their health and beauty which is an opportunity for company to maximise their sales andexpand their market share by promotion and advertisement. Internal analysis:Internal analysis shows the internal capabilities and resource availability with thecompany. The Bloom Perfumery internal analysis for social media marketing plan is discussed asbelow:Human resource:To perform the social media marketing plan, it is important to have the adequate humanresource and employability and change maker skills. As currently company is employing around50 employees in their stores for who assist them to perform the business operations. Money:The finance is very important for every business in order to perform business operationeffectively and efficiently. The Bloom Perfumery has adequate turnover which is around GBP6.5 million. So it can be said that enterprise has enough fund for its social media marketing plan. Equipment:The enterprise has its scale of production in niche world which enables consumers to usescarce exquisite natural materials. It has adequate machineries and other equipments like testinglab for testing manufactured product (Spilleckea nd Brettel, 2014).Material:The material is comprise of factor of production which is land, labour and capital. TheBloom Perfumery fulfil all these requirements in order to perform business operations. External:External analysis is the evaluation of external factors which can make impact on theoperations of business. These are as follows:Political:Political factors are those which are related with political stability of nation, trade andtariff rates and taxation policy which is governed by the government. The UK has stable politicalcondition which provides an opportunity to Bloom Perfumery to promote and expand theirbusiness in market.Economical:2

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