Business Proposal and Research for Gents Grooming Salon in London, UK

This report proposes a new business venture: a gents grooming salon in London, UK. It aims to offer a wide range of services at competitive prices, addressing the limited availability of comprehensive grooming services for men in the area. The report outlines the aim and objectives, conducts a literature review of relevant marketing strategies and customer awareness techniques, and details the research methodology, including a qualitative research approach, interpretivism philosophy, and inductive research approach. Data collection will be conducted through primary surveys with a sample size of 150, analyzed using thematic analysis. The report also addresses limitations, ethical considerations, and includes a timeline with a Gantt chart. References from books, journals, and online sources are provided.

ASSESSMENT

TABLE OF CONTENTS
INTRODUCTION
Aim and Objectives..............................................................................................................................3
LITERATURE REVIEW.....................................................................................................................4
RESEARCH METHODOLOGY
Research Type..................................................................................................................................... 5
Research philosophy...............................................................................................................................
Research approach..................................................................................................................................
Data collection........................................................................................................................................
Sampling.................................................................................................................................................
Data analysis.........................................................................................................................................6
Limitations............................................................................................................................................6
Ethical considerations...........................................................................................................................6
TIMELINE...........................................................................................................................................6
Gantt chart............................................................................................................................................7
REFERENCES.....................................................................................................................................8

INTRODUCTION
“Gents Grooming Salon” is a new business venture that is going to be established in
UK’s market. This new business venture provides different type of services like haircut, facials,
cupping therapy, steam shaves and full grooming package for customers. The targeted audience
of the new business venture is men. It is going to be established in London, UK. There is a
reason to select this idea for opening new business venture such there have limited grooming
salons which offers all type service to the men and their charges are too hike (2017 Industry
statistic, 2019). With the new business venture, entrepreneur will offer wide range of services to
the targeted audience at a good price. London is the best location for opening this new business
venture because there is less availability of gents grooming salon as compared to women
grooming salon. In this research project i will use effective methods like qualitative, data
analysis and literature review to collect data through which this new venture can successfully
establish its business on the selected location.
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AIM AND OBJECTIVES
Aim
“To propose a new business venture i.e. Gents Grooming Salon Business”
SMART Objectives
 Specific: The projected aim of the new business venture is to propose a Measurable: The
aim of the project is to measure the outcome using both primary and secondary method in
order to receive measurable data. w business that is specific.
 Measurable: The aim of the project is to measure the outcome using both primary
and secondary method in order to receive measurable data.
 Achievable: To understand and analysis that whether the primary data collected is
achievable or not.
 Realistic: To propose a new business venture is a actual goal of the company.
 Time frame: The aim is to complete the project till 4th may.
OBJECTIVES
 To understand the marketing mix strategies that are used by new business venture
in order to generate awareness among maximum number of customers living in the
society.
 To identify customers awareness techniques that could yield in growth and
expansion of new business venture.
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LITERATURE REVIEW
This section will further be highlighted different theories and models that will be used for
further research process while critical literature across theories would be defined that which
marketing strategy could be applicable for the new business venture.
Theme 1: To understand the marketing mix strategies that are used by new business
venture in order to generate awareness among maximum number of customers living in the
society.
As Illustrated by Išoraitė, (2016), marketing mix is the best strategy that is used to
differentiate product from others with the support of marketing mix elements. With the support
of authors perception will be highlighted effectiveness of marketing mix strategy in developing
awareness in people for new business venture. There are various methods like marketing mix,
porter’s value chain and gap analysis that can be implemented by new business venture to create
awareness among maximum number of people about its product services. Company by making
use of marketing mix strategy that is emphasized on four Ps : products, price, place and
promotion is able to motivate customers to be part of organization for satisfaction of their
respective requirements.
Theme 2: To identify customers awareness techniques that could yield in growth and
expansion of new business venture.
From the perspective of Chou and et.al., (2020), there are various customers awareness
techniques that could be used by organisation to expand its new business venture. Likewise use
of social media platform in order to inform people about new ventures as they spent lot of time
having fun, enjoyment at different platforms. Moreover, the author has stated that company can
also make use of promotional campaign in order to generate awareness among people and
enhance expansion of new venture.
On contrary note, another author Islaini and Nayan (2020), states that ineffective
customers awareness techniques may lead in loss to enterprise or negative impact on brand
image of the company.
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RESEARCH METHODOLOGY
Research methodology can be defined as several methods that has been undertaken in
order to complete the research so that necessary outcome can be gathered. So, There are different
method that has been used to pursue the study which can be illustrated as follows:
Research Type
There are primarily two types or methods of researches, that is qualitative and
quantitative research. Qualitative helps in getting in-depth information related to particular topic
thus generally based on non statistic while quantitative numerical are used to collect, analysis
and interpretate data. The research type that will be selected for conducting this research of
propose a new business venture of Gents Grooming Salon Business will be qualitative research.
The main reason for selecting qualitative method is that this can easily capture changing attitudes
with a target group and is a flexible approach. It can be conducted for finding out productivity of
the industry, marketing and organisation. The responses are not expected to fit the researcher’s
expectations and can be used to add context and meaning to data gathered (Basias and Pollalis,
2018).
Research philosophy
Research philosophy can be classified into two interpretativm and positivism, In which
interpretativism is unstructured interview and based on observation while it can be stated that
positivism is based on experiments, questionnaire and structured interview. So in the research,
Interpretivism will be used as the research philosophy as it can easily applied to cross-cultural
differences, market factors that influence productivity, issues of ethics, leadership etc. and the
study can be done in a great level of depth.
Research approach
There are two approaches for researches, inductive and deductive. In inductive approach,
there is no existence of literature review on specific topic so there is no text of theory while in
deductive, study always start with theory in which reasoning is used to deduct the data to get end
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information. The research selected for this study is inductive as it will not limit the interpretation
and attends to subject matter closely with high flexibility. It doesn’t take a general premise but
establishes future possibilities (Liu, 2016).
Data collection
There are two method through which data can be collected that is primary and secondary,
in primary researcher itself undertake interview to gathered necessary information. On contrary
note, for secondary research, books and journals, internet, articles, newspaper are used to collect
data. The data collection method will be use of primary method of survey. This is a great method
to conduct a wider research and gather first-hand data for business establishment. Questionnaires
can be used to collect the data from people regarding salon business.
Sampling
Purposive sampling can be used to gather data from a specific population of people who
are then randomly selected. The sample size of the population will be 150 to whom
questionnaires will be distributed (Albattah, 2016). The people or customers will be selected in
order to pursue the study as it will help in gathering effectiveness of marketing mix strategies in
attracting them. Moreover, questionnaire will be used in order to conduct primary study for
better outcome.
Data analysis
The collected primary data can then be analysed using thematic analysis which will base
the analysis on consistent patterns to the responses collected from the people. The results will
then be analysed on a question to question basis. The narratives and discourse can be interpreted
from the responses to understand the meanings of the patterns.
Limitations
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The major limitations in context to the research is limitations and constraints of budget
and resources for the primary survey along with time-based constraints which is limited to 7
weeks. Apart from that the sample size taken is also limited, although the researcher will be
optimally utilising all resources to derive the results and satisfy the purpose of the study.
Ethical considerations
All ethical considerations in terms of getting the consent of all respondents that take part
in the survey, and respecting confidentiality, privacy and anonymity will be appropriately taken
care of. The researcher will not engage in any unethical behaviour or practices in the entire
course of the study.
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REFERENCES
Books and Journals
Albattah, W., 2016, November. The role of sampling in big data analysis. In Proceedings of the
International Conference on Big Data and Advanced Wireless Technologies (pp. 1-5).
Basias, N. and Pollalis, Y., 2018. Quantitative and qualitative research in business & technology:
Justifying a suitable research methodology. Review of Integrative Business and
Economics Research, 7, pp.91-105.
Chou, S.F and et.al., 2020. Identifying the critical factors of customer behavior: An integration
perspective of marketing strategy and components of attitudes. Journal of Retailing and
Consumer Services. 55 p.102113.
Islaini, M.A.A. and Nayan, S.M., 2020. The Role of Price in the Marketing Mix. Journal of
Undergraduate Social Science and Technology. 2(2).
Išoraitė, M., 2016. Marketing mix theoretical aspects. International journal of research
granthaalayah. 4(6). pp.25-37.
Liu, L., 2016. Using Generic Inductive Approach in Qualitative Educational Research: A Case
Study Analysis. Journal of Education and Learning, 5(2), pp.129-135.
Riyadi, A. and Rangkuti, S., 2016, May. The influence of marketing mix and customer
purchasing decision process on customer satisfaction. In Asia Tourism Forum 2016-the
12th Biennial Conference of Hospitality and Tourism Industry in Asia. Atlantis Press.
Online
2017 Industry statistic, 2019, [Online]. Available Through:
<file:///home/user/Downloads/statistic-booklet-2017.pdf>.
TIMELINE
Task Name Duration Start Finish Predecessors
Research timeline 49 days? Wed 04-11-20 Mon 11-01-21
Introduction and background 5 days Wed 04-11-20 Tue 10-11-20
Aims and objectives 3 days Wed 11-11-20 Fri 13-11-20 2
literature review and 4 days Mon 16-11-20 Thu 19-11-20 3
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secondary research
Research methodology 5 days Fri 20-11-20 Thu 26-11-20 4
Data collection through
questionnaire 16 days Fri 27-11-20 Fri 18-12-20 5
Analysis of data 12 days Mon 21-12-20 Tue 05-01-21 6
Conclusion and
recommendations 3 days Wed 06-01-21 Fri 08-01-21 7
Submission of research 1 day? Mon 11-01-21 Mon 11-01-21 8
Gantt chart
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