Enterprise and Entrepreneurship: Digital Eye Marketing Agency Report

This report presents a business plan for Digital Eye Marketing Agency, a new venture focused on providing social media marketing services. The report includes an introduction to enterprise and entrepreneurship, followed by an executive summary and a detailed business plan. The business plan covers various aspects, including the business model, entrepreneurial competencies, SMART objectives, PESTEL analysis, Porter's Five Forces, the 4Ps of marketing mix, STP model, sales and operations strategies, sales forecasts, and financial projections. The report analyzes the market competition, identifies opportunities, and outlines strategies for the agency's success in the UK market. The plan emphasizes innovation, communication skills, and competitive pricing to attract clients and achieve profitability. The report also highlights the importance of adapting to political, economic, social, technological, environmental, and legal factors. The Digital Eye Marketing Agency aims to provide effective social media marketing solutions, using the 4Ps of marketing mix and the STP model to target and position its services effectively. The plan includes strategies for sales and operations, sales forecasting, and financial projections to ensure the venture's systematic establishment and growth in the market.

ENTERPRISE AND
ENTREPRENEURSHIP

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
Business Plan...............................................................................................................................3
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Enterprise and entrepreneurship are two business terms, in which the enterprise term
indicates a business or a venture which is formulated by an entrepreneur. On the other side,
entrepreneur is basically a person who has well-developed skill and attribute of entrepreneurship.
This attribute motivates a person for developing a new product or service for gaining huge profit
in market place (Merchán and Paliz, 2019). This report discusses how an entrepreneur starts a
new venture Basically, the entrepreneur wants to start a new social marketing company, named;
Digital Eye Marketing Agency. The company will mainly focus on providing social media
marketing services to its clients in this digital era. A productive business plan also has been
included in this report which can support to this new venture for systematically establishing its
operations in market place.
MAIN BODY
Business Plan
Executive summary
Social media marketing is very popular strategy of marketing for different businesses in
this digital and modern era. The entrepreneur has developed a new venture which will provide
effective marketing solutions to different customers in market place. This venture’s management
has decided to provide all types of marketing solutions including social media marketing,
because social media marketing strategy is very excellent strategy of marketing to various
organisations in the current time period.
The concept/Business model
The business model is based on the offering appropriate marketing solutions to different
businesses and companies which wants to promote their brand in market place with less
investment and high productivity. Currently top-level management within each company wants
to promote their businesses through digital marketing strategy, but they are now able to find out
appropriate social media marketing agency or venture which provides paid solutions relating to
social media marketing strategy (Cook and King, 2018). Due to this reason, the new business

named; “Digital Eye Marketing Agency” has developed for providing very excellent solutions to
customers and clients in market place. The company will develop and provide effective and
exclusive marketing strategies to its clients which helps them for highly promoting their brand in
market place.
Entrepreneurial competences
Entrepreneur of Digital eye marketing agency has different competencies which will
support in boosting its business operations in market place. By using these all skills, the
entrepreneur can simply improve productivity and performance of its business in market place.
Innovation skill is the first which existing entrepreneur has in its personal life, so that by using
this competence, it can simply develop new exclusive range of marketing services to its different
customers. However, this existing business model is also prepared by the entrepreneur by using
its innovation skill. The entrepreneur has very excellent communication skill. It is simply able to
interact with someone by using its well-developed skills of communication. In this modern
world. Basically, an entrepreneur has always required to interact with various stakeholders while
running a business venture, lie; customers, suppliers, investors etc. (Enterprise vs.
Entrepreneurship, 2019). so that this competence is very productive to entrepreneur.
SMART objectives
 The owner of newly developed business wants to gain huge profit within market place by
providing its exclusive marketing and promotional solutions to customers and clients.
 It has planned to measure performance of its business by using different performance
measurement tools, like; Geckboard KPI tool.
 Company’s another objective is to gain huge profit in market place by providing better
quality services.
 The entrepreneur has decided to proper establish its new venture in the one year of
business operations.
PESTEL analysis
PESTEL analysis is very effective tool for market situational analysis to different
businesses. In this situation, the management digital eye marketing agency also have to adopt

and use this tool for identifying factors of macro business environment which can affect business
in both ways positively and negatively. Six major external factors of this tool have been
discussed below;
Political factors: Political factor will be highly affected to this new business when it operates in
market place. According to the government of United Kingdom, each existing business is
responsible to fulfil the obligation of taxation, so that this factor will be impacted to the owner of
Digital eye to fulfil the obligation of taxation.
Economic factors: Economic factors can also impact to the business. Currently the UK has
unstable economic conditions, so that most businesses are here not able to afford fees and
charges of a social marketing agency (Amberg and McGaughey, 2017). In this situation, this
factor of UK’s economic will be negatively affected to existing new venture. Basically, when a
country has unstable economic conditions, then existing businesses of that country grows very
slowly in market place. The Brexit decision of UK also will impact company in negative way,
because after Brexit the UK’s economy become poor than before Brexit time period.
Social factors: Social factor of the UK are very favourable to a business in market place. Most
people within this country value those ventures and companies which fulfils their CSR
(corporate social responsibilities) on time. So, this factor will impact to existing new business for
always fulfilling CSR in proper way to put very excellent impression on its clients.
Technological factors: Currently almost all technological gadgets and tools are available in the
UK’s different markets, so that Digital eye marketing agency can simply adopt and implement
new technologies within its workplace to satisfy its clients. That’s why this the positive impact of
technology factors on this new venture, because it will enable to venture for give full satisfaction
to its clients.
Environmental factors: Environmental factors of this country will impact top-level management
of Digital eye agency to not conduct such activities and operations within its workplace which
can very negatively affect to the natural environment. It will require to follow all regulations also
which was formulated in order to protect natural environment.

Legal factors: Legal factors also highly affects to company when it will be set up its operations
in market place. According to UK’s legal system, each existing business or company is
responsible follow all laws, standards and regulations within its workplace, which has formulated
by the UK’s government and parliament. These factors will give opportunity to venture to be
legally formed in market place.
Competition
Analysis of market competition is also a major activity to a new venture or business.
Without analysing existing competition, a business never make appropriate business strategies.
For analysing the market competition for Digital eye marketing agency, here is Porter’s five
forces model has used below;
Porter’s five forces
This is a very innovative model for analysing existing market competition of a company
which is developed Michael Porter in in 1980 (CHAPPELOW, 2020). Basically, he mentioned
the concept of this model in his book, named; ‘competitive strategy’. This model shows five
major competitive forces of market which has been described below for new business.
Bargaining power of buyers: Currently the bargaining power of buyer is very high, because
there are lots of social marketing companies already exists in market place which provides those
all services which the business plans for providing in market place. Basically, customers have
lots of options in market to consume marketing solutions and services.
Bargaining power of suppliers: Bargaining power of suppliers is very low, because this
company will provide marketing strategies and solutions to different clients. This business will
require to use lots of raw-material as other ventures. That’s why bargaining power of suppliers is
low.
Competition in the industry: Currently there are very high competition in the UK’s social
marketing sector. Oxedent, Pico Digital Marketing, Nara Media and Media Bounty etc. well-
established social marketing companies can give very tough competition to Digital eye venture
in the UK.

Threat of substitute products: This new business not has the threat of substitute products,
because this venture is specialised in providing exclusive social media marketing solutions to its
clients, and no other marketing strategy is able to take the place of social media marketing
strategy in this dynamic world.
Threat of new entrants: Digital eye marketing agency has threat of new entrant, because social
media marketing and digital marketing are highly trending in market place. In this situation,
people can be influenced to enter in market place by opening a new social marketing concept
(Andry, 2019). That’s why company has threat of new entrant.
The product
For analysis about the product and service features of company, here is 4Ps of marketing
mix has used which can support to inform services of the Digital eye company.
4Ps of marketing mix
This is very effective business strategy to existing new venture for effectively promote its
brand in market place. This strategy aware about 4 aspect of marketing which has been
mentioned below;
Product: Currently company has decided to provide effective marketing solutions to different
clients and customers. The management has claimed that, venture’s social media marketing
services will defiantly give great growth opportunities to various businesses in market.
Price: The company will use competitive-based pricing strategy, because it is beneficial in
making price of own services something favourable than market competitors.
Place: The management has decided to launch its venture only in the UK in starting stage.
However, it will expand its business operations in other countries in future, when it is enable to
gain huge profit margins the UK’s market.
Promotion: Digital eye marketing agency is specialised in providing the best social media
marketing solutions, so that it will use this same strategy for promoting its own brand also in
market place (Luckman and Andrew, 2020).

STP model
STP model is another important marketing strategy to different businesses in market
place. This STP term basically refers three major stages of marketing which has been discussed
below;
Segmentation: This is the first stage within model, in which top-level management of new
venture have to divide its large market into small segments of market on the basis of different
factors. Currently the management of has decided to choose market segment on the basis of
demographically. Currently the main market of company is its home country United Kingdom,
so the management need to divide this whole market in small market segments.
Targeting: Targeting is the second stage, in which the company have to target its different
businesses within market segments on the basis of their background. For example; company can
target a busines for providing its exclusive marketing solutions by seeing marketing requirements
of businesses. On the on other side, this venture can target different businesses according to their
existing levels of marketing as well.
Positioning: In this last stage of the STP model, the company have to make its distribution
channel very much effective to deliver its services in very proper manner (Kitchenko and
Kuchina, 2019). The management have to take actions towards promoting its brand also in this
stage, because this is necessary to aware people or businesses about own services.
Sales and operations
The management of digital eye marketing agency will have to focus on boosting
performance and productivity of its sales and operations, because this is very necessary in the
terms of generating huge revenue in the initial stage. For increasing sales and operations of this
new venture, existing management can hire some effective marketers in workplace which will be
visited in market place to interact with different people and businesses. These interaction values
of venture will defiantly improve performance of its sales and operations in market place.
Sales forecast

The management at Digital eye marketing agency need to conduct the market research
for the sales forecasting. This is another major function to the management while launching its
business operations in market place. Basically, sales forecast will help to this venture for making
effectiveness within services according to the market trends (Naumova and Tyugin, 2020). For
example; currently the social media marketing strategy is trending in market, so that company
has aimed to achieve more than 150 clients in its first year of business operations.
Financial projections
For systematically launching this venture in market place, existing management of
Digital eye marketing agency have to invest huge fund. A specific budget is ready for this
business below;
Particular Amount (In £)
Market research 600
Consultancy fees 450
Employees salary 1200
Transportation 270
Legal formalities 150
Promotion charges 550
Additional expenses 330
Total £3650
The management have to invest £3650 for properly establish its new venture in the selected
market segment.
Strengths and risks of the business
Currently the Digital eye marketing agency have an effective of idea relating of social
marketing which give opportunity to different businesses and companies for effectively
promoting their products and services in market place. This is one of main strength of this new
venture. It has a workforce of many effective, skilled and talented employees as well, so that this

I another major strength. On the other side, day to day increasing marketing competition,
political instability and inflation are main risk factors to this business.
Summary
It can be summarised that, this is the business plan for newly developed venture Digital
Eye Marketing Agency (Rouhani and et.al., 2019). The management of venture has implemented
those all strategies in its daily operations which has been involved in this plan, because this is
mandatory to gain huge profit in initial stage.
CONCLUSION
On the basis of above findings, it can be concluded that top-level management at Digital
Eye marketing agency have to use different business strategies which has been mentioned this
business plan. Proper consideration of this plan will help to this new venture for successful
establish in market place.

REFERENCES
Books & Journals
Amberg, J. J. and McGaughey, S. L., 2017. Fostering Local Entrepreneurship in a Multinational
Enterprise. Taylor & Francis.
Andry, J. L. J. F., 2019. DESIGN ENTERPRISE ARCHITECTURE FOR INDUSTRY OF
TEXTILE USING ZACHMAN FRAMEWORK.
Cook, T. and King, J., 2018. Complete Enterprise for Cambridge IGCSE®. Oxford University
Press-Children.
Kitchenko, O. and Kuchina, S., 2019. Enterprise communication policy indicators analysis as a
part of marketing audit. Technology audit and production reserves. 3(4 (47)). pp.51-54.
Luckman, S. and Andrew, J., 2020. Educating for Enterprise. In Craftspeople and Designer
Makers in the Contemporary Creative Economy. (pp. 65-100). Palgrave Macmillan,
Cham.
Merchán, V. and Paliz, V., 2019, December. Enterprise Digital Transformation in Ecuador:
Strategic Options. In International Conference on Applied Technologies. (pp. 179-190).
Springer, Cham.
Naumova, O. A. and Tyugin, M .A., 2020. Information and Analytical Support for Enterprise
Business Management. In Current Achievements, Challenges and Digital Chances of
Knowledge Based Economy. (pp. 295-303). Springer, Cham.
Rouhani, B. D., and et.al., 2019. Critical success factor model for enterprise architecture
implementation. Malaysian Journal of Computer Science. 32(2). pp.133-148.
Online
CHAPPELOW, J. 2020. Porter's 5 Forces. [Online]. Available Through:
<https://www.investopedia.com/terms/p/porter.asp>.
Enterprise vs. Entrepreneurship. 2019. [Online]. Available Through:
<https://www.askdifference.com/enterprise-vs-entrepreneurship/>.