BM564 Enterprise and Entrepreneurship: Market Opportunity Report

This report provides a comprehensive analysis of enterprise and entrepreneurship, focusing on the development of a herbal beauty and cosmetics business, Glam Care. It begins with an introduction and outlines the motivation behind the business, emphasizing a shift towards herbal products. The report details the process of generating business ideas, including market research, customer identification, and product design. A feasibility study, incorporating PESTLE analysis (Political, Economic, Social, Technological, Legal, and Environmental factors), is conducted to assess the business's viability. The report outlines the specific herbal products Glam Care will offer, highlighting their natural ingredients and benefits. Market opportunities are explored through segmentation, targeting young and adult women, and positioning the products. The attractiveness of the industry is evaluated using Porter's Five Forces analysis, assessing threats of new entrants, bargaining power of customers and suppliers, threats of substitutes, and competitive rivalry. The company's vision is defined as providing women worldwide with cosmetic modernization through herbal quality and safety. The report concludes by summarizing the key findings, including the use of Porter's Five Forces and STP analysis to identify market opportunities, and PESTLE analysis for feasibility studies, and the company's vision. References to relevant academic sources are also included.

BM564 ENTERPRISE AND
ENTREPRENEURSHIP

TABLE OF CONTENTS
1. INTRODUCTION
2. MOTIVATION OF BUSINESS
3. PROCESS TO GENERATE BUSINESS IDEAS
4. FEASIBILITY STUDIES CONDUCTED
5. DETAILS OF NEW PRODUCTS
6. POTENTIAL MARKET OPPORTUNITIES
7. REFERENCES

INTRODUCTION
 Enterprise is referring as the finding the new business for the
opportunities and taking advantage’s to make a profit.
 Enterprise can be done in various types such as small business, larger
business, social business and scalable start-up.

MOTIVATION OF BUSINESS
 The main motives of
the Glam care
company are to
shifting the customers
purchase habits form
the conventional skin
care products to
herbal beauty and
cosmetic’s products.

PROCESS TO GENERATE BUSINESS IDEAS
 Analysis personal skills
 Market research
 Identify customers
 Determine pricing
 Designing and packaging of
products
 Finalize business ideas
 Promotion and launch
products

FEASIBILITY STUDIES CONDUCTED
 Political factors: The political factors are also considering and that are basically depends on the government’s
policies in the company.
 Social factors: This factors directly impact on the behaviours of customers and buying patterns of customers
and it is important determinants of company.
 Technological factors: the technological factors are based on the research and developments activity,
innovation in products and services.
 Legal factors: This factors includes the various law’s such as consumer law, discrimination law, health and
safety law and employment’s law.
 Environmental factors: In this factors, there are various aspects includes such as climate changes, weather,
climate which can affect’s business.
 Economic factors: This factors includes interest rates, economic growth, exchange rates and inflation rates.

DETAILS OF NEW PRODUCTS
 Glam care will offer the herbal beauty and cosmetics
products to customers in the competitive marketplace.
 The gerbil products consist the various items such as
shampoo, lotion, lipsticks, cream, oil, conditioners, etc.
 The main purpose of products is to maintain the good skin
health.
 Herbal products are based on offered and produced by
mother nature. Products will make with the natural
ingredients and goodness of nature.

POTENTIAL MARKET OPPORTUNITIES
 Segmentation:
The segmentation is referring as the collection of the market based
on the various types such as geographic, behavioural and
demographic segmentations as well as psychographic segmentations.
 Targeting:
Business will target the young and adult’s women for the products
because they are more conscious regarding their skins and care for
their skins.
 Positioning:
It is defined as connecting with customers and audience at individual
level to set products different from other competitors in market.

ATTRACTIVENESS OF THE INDUSTRY
To analysis the attractiveness of the industry the business will use the porter five forces analysis.
 Threats of new entrants: The cosmetic industry have the low threat of entrants because of the huge cost of entry and
unique product’s developments require the lot of resources.
 Bargaining power of customers: In the cosmetics industry, there are high power of bargaining because of the high
competition and availabilities of various products of beauty and cosmetic products.
 Bargaining power of suppliers: In the cosmetics products, there are low bargaining power of suppliers because
suppliers have high bargaining power to change and manipulate the price of products and this strategy are illegal.
 Threats of substitutes: There are threats of substitutes if the same products are launch by the competitors in market.
 Competitive rivalry: Company can face the large number of competition in market because there are many
competitors in the market.

VISION OF COMPANY
 The company will be offering
the women worldwide the
best of cosmetic
modernization in terms of
herbal quality and safety to
satisfying customers and all
the beauty needs in
customer’s infinite diversity.

CONCLUSION
 As the conclusion, the glam care is offer the herbal beauty and cosmetic products to
customers with varieties of products items
 This report discussed the porter five forces and STP analysis for find out the potential
market opportunities.
 This report also elaborated the PESTLE analysis for feasibilities study and determine the
vision of company.

REFERENCES
 Almeida, F. and Santos, J.D., 2018. Annex I–Porter Five Forces.
 Bocken, N. and Snihur, Y., 2020. Lean Startup and the business model: Experimenting for
novelty and impact. Long Range Planning, 53(4), p.101953.
 Bruijl, D. and Gerard, H.T., 2018. The relevance of Porter's five forces in today's
innovative and changing business environment. Available at SSRN 3192207.