Entrepreneurship and Business Development

ENTREPRENEURSHIP
AND BUSINESS
DEVELOPMENT

Table of Contents
Rationale for the launching business along with vision and mission.....................................3
Review of industry and market..............................................................................................3
Competitor analysis................................................................................................................4
Segmentation analysis............................................................................................................5
Marketing strategy by applying marketing mix.....................................................................7
Market growth strategy..........................................................................................................8
Resources for venture.............................................................................................................9
Risk analysis.........................................................................................................................10
REFERENCES.........................................................................................................................12

Rationale for the launching business along with vision and mission
The new business plan is based upon Tesco who open its physical store by offering
organic skin care product to Thailand. The rationale for choosing this business is such that
Thailand is a developing country and there are lot of middle income economy people who
purchase the products offer at low cost. In the same way, population majorly focused upon
organic products such that they prefer cosmetic product which do not cause any skin reaction
and this in turn improve the brand image (McKenzie and Sansone, 2019). Also, Tesco has a
brand image and strong financial performance of a company, therefore, it is analyzed that
there is a high demand of organic product especially in skin care product. That is why, it is
beneficial for the company to launch such product that helps to meet the requirement of a
public.
Vision:“To become the most highly valued business by offering the best products to their
customers in order inspire and increase loyalty of customers as well as communities.
Mission: To become a champion for customers by providing better quality of customers that
leads to offer quality life along with easier way of living.
Review of industry and market
To offer new product in Thailand, it is necessary for the company to review an
industry. Thus, customer prefer to buy health product, herbs, cosmetic product, thus it is
analyzed that it is beneficial for the company to offer organic herbal cosmetic skin care
product to the customers that assist to meet the customer need. Moreover, the industry is
completely based upon the new and advance technology and Tesco also ensure that it offer
the product online that helps to keep align with a trend (McKeever, 2016). Also there are
71% of the population who wants to purchase the product online and focused upon herbal
products, that is why, choosing this type of product will help the company to improve the
brand image.
In addition to this, investing amount in such type of business is more beneficial
because it helps to grab attention of many customers along with sustaining the brand image.
To determine the micro environment, it is suggested to the company to use SWOT analysis
that helps to examine the strength, weakness, opportunities and threat of a company. Thus it
is as mention below:
Strength:

 Quoted firm has a brand image at international level
 Considered the biggest grocery retailer in UK and one of the leading market share in
the world.
 It keep offering new innovative product and diversifying its stores within new market.
 Get different international awards by using the superior technology that helps to meet
the define aim
Weaknesses:
 It failed its operations in US and Japan because of offering wrong product in wrong
market.
 Due to its fraud Trial and accounting scandal, company’s brand image got affected.
 Though Tesco is a price leader in UK market but its low cost strategy may reduce the
profit margin.
Opportunities:
 Company may uses different strategic alliance with other brand in order to attract
more customers
 It may invest amount to offer products online along with home delivery facilities
(McKenzie and Sansone, 2017).
 It may expand the business in emerging countries like South Korea, Indonesia etc.
Threats:
 Strong competition is considered another threat for Tesco.
 Fluctuation in the economy may also affect the overall financial performance.
Competitor analysis
To determine the competitor analysis of a company, it is suggested to use Porter five
force model that helps to examine the competition. Hence, five forces are as mentioned
below:
Bargaining power of buyers (high):Tesco has a strong customer base because it has
number of brands located in different countries. Now to offer the new product in new
country, company has to develop the strong brand image. Currently the company has its
location in Thailand and having a strong customer base that helps to successfully launch the
new product in market (Ivanisevic and et.al.,2016).