Starting a Business and Fundamentals of Marketing

Presentation on starting a business and fundamentals of marketing, including the launch of a herbal make-up kit containing Foundation, Concealer, and Primer. Targeted at women and girls aged 15 and above. Price set at £50. Includes analysis of competitive advantage and investment opportunities.

STARTING A BUSINESS AND FUNDAMENTALS
OF MARKETING
Introduction:
Presentation will
describe the
business idea
which is offered
by Morrison .
It encourages the
local brands and
companies by
buying directly
from the local
farmers and
produce
Vision: The vision
of the company is
that “Old
stakeholders
should enjoy and
new ones wish to
join.” and they try
to fulfil their
vision by the
variety of products
that they produce.
Strengths
It has a large share
in the grocery
market of UK and
is extremely
reputed for the
quality and pricing
of their products.
Weaknesses
The company does
not exercise a
strong online
presence in the
current era of
digitalisation
where everything
is done online.
Opportunities
The progressing
economy of UK is
another benefit and
the increasing
expenditure ability
of the company
adds to the
opportunities of
the company.
Threats
is the three other
eminent retailers of
UK i.e. Tesco,
Asda and
Sainsbury which
are evading the
market and
Morrison's fall way
behind these three
in the retail
market.
A herbal
make-up kit
containing
Foundation,
Concealer
and Primer

STARTING A BUSINESS AND
FUNDAMENTALS OF MARKETING
Overview of
proposed plan
The company
Morrison's, now
intends to expand
their cosmetic
market segment and
keeping in mind the
desire of the
consumers to use
herbal cosmetics,
This will help in
entering a new
segment and this
herbal cosmetic
products will
attract many more
customers to the
company.
the company plans
to launch a herbal
make-up kit
containing
Foundation,
Concealer and
Primer
Target Market:
The targeted
market for the
company is
women and girls
from 15 years and
above and these
involve women
belonging to
different regional
backgrounds
A herbal
make-up kit
containing
Foundation,
Concealer
and Primer

STARTING A BUSINESS AND
FUNDAMENTALS OF MARKETING
Product
The product will
be launched for the
women of all age
group and colour
having different
shades and tints
for different skin
types
The company is
exercising
penetration pricing
because they
intend to launch
their product
successfully in the
market and with
this strategy, the
company would be
able to attract
public.
Price
The price of the
product will be
adequately placed
at an average price
of £50 including
all the three herbal
products i.e.
Foundation,
Concealer and
Primer
Place
The product will
be launched in all
the stores that are
operating in UK
under the
Morrison's
company brand.
Promotion
The promotional
activity will be
carried out by all
the major
mediums such as
TV, Radio etc. and
also various
discounts etc.
would be given by
the company
initially
4P's of
Marketing

STARTING A BUSINESS AND
FUNDAMENTALS OF MARKETING
Investment and
Financing
Opportunities
Since the growth
potential in this
market is
extremely high,
they would invest
in the company
and in return claim
Economic Factor:
This factor deals
with the inflation,
recession and the
currency
exchange. As
Morrison offer
new product and if
there is any
fluctuation in the
economic factor
External
Environmental
Political factor:
In order to develop
the new business
idea, company
should make sure
that there should
be a political
stability so that it
will it will not
affect the business
in negative way.
Social Factor: The
factor deals with
the belief and
notion of people
and customers
changes their
preference as per
changes in market.
Further, as the
company wants to
launch new
product and that is
why, it may use
social media as a
marketing tool
But on the other
side, Morrison also
comply with the
same and that is
why, it launches
the same new
product after
analysing the
needs and wants of
customer.
Technological
Factor: In this
modern era,
technology plays a
crucial role in the
market. In the
same way,
Morrison also uses
the same in order
to attract the wide
range of
customers.
A herbal
make-up kit
containing
Foundation,
Concealer
and Primer

STARTING A BUSINESS AND
FUNDAMENTALS OF MARKETING
Competitive
Advantage
Competitive
advantages mainly
refer to the
capacity and
ability of the
company as
compared to its
rivals in which the
firm sell
Such that to stay
competitive in the
market and launch
new business idea,
it uses cost
leadership strategy
which strive
towards cutting the
cost in order to
minimum possible
level..
the products at low
rates by providing
the greater value
through
differentiation
company uses
differentiation
strategy which
means that by
focusing on the
customer's needs,
company will
provide the best
products with its
uniqueness
CONCLUSION
report it is concluded
that Morrison have
strong brand image
and by launch a
herbal make-up kit
containing
Foundation,
Concealer and Primer
will help the business
to attract wide range
of customers
Further, these two
method, cost
leadership and
differentiation
strategy will help
the business to
grow in new
segments and also
assist to improve
the financial
performance as
well.
A herbal
make-up kit
containing
Foundation,
Concealer
and Primer