Evaluating Market Gaps and Opportunities: Beauty Cosmetic Report

This report examines the entrepreneurial opportunities for Beauty Cosmetic, a company specializing in cosmetic products. It begins with an introduction to the company and its product range, followed by an evaluation of market gaps using primary and secondary research methods. The primary research includes a questionnaire administered to assess brand awareness, product familiarity, customer satisfaction, and interest in online marketing. The data from the questionnaire is then interpreted to identify key insights. The report also includes a gap analysis, a strategic tool used to determine the difference between planned and actual results. The conclusion highlights the company's use of behavioral segmentation and suggests opportunities for growth based on SWOT and PESTEL analyses, emphasizing the importance of legal considerations. The report references academic sources to support its findings and recommendations.

Identifying Entrepreneurial Opportunities
TASK 3

 Introduction
 Evaluate gap analysis with specific entrepreneurial idea
 Questionnaire
 Interpretation of data
 Gap analysis
 Conclusion
 References
Table of content

 This PPT is prepared on Beauty Cosmetic which a company dealing in
cosmetic products such as highlighter, moisturisers, make up remover,
brows enhancer, foundations and many more. The major purpose of
formulating this report is to examine ideas for innovation within rationale
market gap along with required tools and techniques. Along with this data
is gathered with the help of gap analysis in potential markets and with
evidences.
INTRODUCTION

 In order to understand group of people marketing research is performed
which give syntactical view. Entrepreneurs get help with market research
and can identify market trend and competitors with this. Research is of two
type primary and secondary, so in the context of beauty cosmetics they
have conducted a research in order to test viability of their product in
marketplace
Evaluate gap analysis with specific
entrepreneurial idea

 Primary research: Primary research is defined as performing research via
direct survey and questionnaire. This is dependent on those data which has been
taken out without any fabrication and on raw basis. This helps the business in
getting new business ideas as direct interaction with customer is the major part
of primary research,
 Secondary research: This research is done for the purpose of getting in depth
knowledge about a particular topic. This research includes study from
publications and other article that means this does not include direct interaction
with customer and communication with them. Past data can be analysed and
then deep analysis can be performed in secondary research.
Continue…

Questionnaire
Name:
Age:
Address:
Q1 Is Beauty Cosmetic product is known to you?
Yes
No
Q2 Are you familiar about products of beauty cosmetic?
Yes
No
Q3 Are you satisfied with those products?
Yes
No
Q4 Did you face any sort of issue while using those products?
Yes
No
Q5 Are you interested in online marketing of these products?
Yes
No
Questionnaire

Q1 Is Beauty Cosmetic product known to
you?
Q1 Is Beauty Cosmetic product
known to you?
Yes No
0
1
2
3
4
5
6
Series1
Yes
No
5
5

Yes
No
8
2
Q2 Are you familiar about products of
beauty cosmetic?
Q2 Are you familiar about
products of beauty cosmetic?
Yes No
0
1
2
3
4
5
6
7
8
9
Series1

Yes
No
8
2
Q3 Are you satisfied with those
products?
Q3 Are you satisfied with those
products?
Yes No
0
1
2
3
4
5
6
7
8
9
Series1

Yes
No
6
4
Q4 Did you face any sort of issue while
using those products?
Q4 Did you face any sort of
issue while using those
products?
Yes No
0
1
2
3
4
5
6
7
Series1

Yes
No
7
3
Q5 Are you interested in online
marketing of these products?
Q5 Are you interested in online
marketing of these products?
Yes No
0
1
2
3
4
5
6
7
8
Series1

Q1 Is Beauty Cosmetic product is known to you?
Yes
No
5
5
Interpretation of data
Interpretation: From the above research it is shown that out of 10 respondents 5
know beauty cosmetic and rest 5 are unaware about the brand.