Entrepreneurship and Business Development for Rimmel: A Feasibility Analysis

Entrepreneurship and
Businesses Development

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Business concept and key components of the concept................................................................3
Appropriate assessment of Industry, market, organizational and financial feasibility...............5
Explaining the important element of the value chain and canvas business model of specified
business.......................................................................................................................................7
mention an proper quantitative and qualitative models and concepts, identify and explaining
how potential risk be manage....................................................................................................10
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13

INTRODUCTION
Entrepreneurship is the setting up of the business or multiple business which can take
financial risks in the hope of the profit generation. The concept of entrepreneurship refer to the
concept of developing and managing a business venture for gaining profit with the help of risk
taking. Business development is the creation of long-term value for an organization with the help
of customers, markets and relationships. Business development can be taken for activity which
are either based on small or large business organization which can serve the purpose of
developing the business. In this project the chosen organization is Rimmel which is UK based
cosmetics brand which is introducing herbal cosmetics products in the market. In this project the
concept of the new business idea including the key components of the concept has been
discussed. It will discuss the, product, target market. Special attributes, values, scale of the newly
proposed business. This project will conduct an appropriate assessment of the industry, market,
organizational and financial feasibility. This project will also discuss the key components of the
value chain and the business model canvas in relation to the proposed business. It will also
utilize both the quantitative and qualitative models and concept, for identification of the how to
explain the potential risks.
MAIN BODY
Business concept and key components of the concept
The business concept for Rimmel is develop specialization in the hand-made herbal
products. These products of the organization will be very useful for the herbal therapies. This
business concept has viability because of the popularity increase of these products in the
consumers over the past ten years. The industry of the herbal products has increased a lot since
the last year. Previously these products were sold by special shops or individuals themselves but
now super markets also have them in the shops. This concept is actually very counter productive
as the basic products of the Rimmel are chemical cosmetics which have the drawbacks of being
harmful for the skin. This business concept will help the business to develop a positive brand
image. Some of the key components of this concept are,
Products:
The name of this products itself suggests that herbal cosmetics are natural and free from
harmful synthetic chemicals which otherwise may prove to be toxic for the skin of the users.

These products are produced with the different plant parts and extracts such as the aloe-vera gel
and coconut oil. They are very rich in certain vitamins that can keep skin healthy, glowing and
beautiful (Neelofar Sulatna and et.al., 2017). These products can be main reason for the success
of this concept as they have had rising number of consumers to these products as the concern
over using the synthetic products has been shown by the users.
Target market:
The analysation of the target market of this product is very essential and important
component to this business concept. Generally, these cosmetics products are most used by the
females but this company has products for other genders as well. However, in this concept this
company will focus on the small retail companies which serves in different markets so that it can
sell the products in the regional markets. Larger supermarket stores will also be the target for this
organization as the customers prefer purchasing products in the supermarket and in this way, it
can also gain new customers for the products (Bilal and et.al., 2021).
Special attributes:
Some of the special attributes to this business concept are that it is not that expensive for
the company to produces and are generally much more affordable than synthetic cosmetics. The
WHO has said in a survey that 80% if the world population depend on the natural products for
the health of their skin. This shows the effective ness of the product and also provides the
business an opportunity to use and develop strategic pricing according to the market (Jones and
Toklu, 2020). These products have also been proven to have no side effects on the users which is
why they are a safer than the synthetic products which can destroy the brand image of the
company.
Values:
The herbal cosmetics products concept holds a lot of values which are extracted primarily
to the cosmetic formulation due to the different associated properties such as the antioxidant and
anti-inflammatory antiseptic and antimicrobial properties. These products claim to have efficacy
and intrinsic acceptability due to the routine use in daily life. Thus, it allows the users to avoid
the side effects which are there with the synthetic products. The production of the
industrialization a trend which has been developed to use product with natural ingredients. The
different herbal production of cosmetics helps the business in the reduce the level of pollution
and environmental effects.