Report: Initial Market Research for TELCA Online Delivery Venture

This report provides a comprehensive market research analysis for TELCA ONLINE DELIVERY, an online platform delivering retail and personalized items in Birmingham, UK. The report begins with an introduction to the business idea, highlighting its focus on providing a single platform for various cosmetic brands. The main body of the report includes an evaluation of the external environment using PESTEL analysis, examining political, economic, social, technological, environmental, and legal factors influencing the business. It further delves into competitive analysis, exploring the existing market landscape and identifying potential competitive advantages. The report also defines the target market, outlines the proposed marketing mix, and concludes with a SWOT analysis to assess the business's strengths, weaknesses, opportunities, and threats. The report aims to provide a solid foundation for the business venture.

A report based on initial market research
for your business idea

Table of Contents
Introduction................................................................................................................................3
Main body..................................................................................................................................3
Evaluation of the current external environment.....................................................................3
Competitive analysis..............................................................................................................4
Target market and customer...................................................................................................5
Marketing Mix.......................................................................................................................6
SWOT analysis of the business..............................................................................................6
Conclusion..................................................................................................................................7
References..................................................................................................................................8

Introduction
The new business idea for this project is basically related to an online platform which are
providing home delivery services to their customers. The name of this business venture is
TELCA ONLINE DELIVERY. The main products which have been delivered in the
market are related to Retail industry and personalised items. It is very important for the
online business to having the skills of all new software and their basic detail to deal with
customer and make eye on the daily updates and customer selection (Beckett and
Vachhrajani, 2017). Further, it can be said that there are different shops online and offline
which are selling cosmetic products in the market. But this new business venture are helpful
for the customer to get their favourite different brand product at single platform and they can
easily get this at their home safely during the covid-19 pandemic impact. The chosen location
for this business idea is Birmingham, UK and this report include the external market
evaluation, competitive analysis, target customer, marketing mix and swot analysis.
Main body
Evaluation of the current external environment
In order to provide effective growth, the need to make external analysis of the new
business venture is very important as it would be very effective and growth of the company.
It is important and helpful for the growth of the company to work and analysis as per the
management process of the company. External analysis are determine below:
 Political Factors: With the changing nature and growth of political stableness, legal
model, pricing ordinances and taxes are majorly effect the growth and opportunities
of the company in an authorised manner. Company are performing online platform
and able to work in with the context or many other companies and make franchise in
an authorised manner (Burns, 2016). Further it would be helpful for them to work and
manage their profile as per the government guidelines of covid-19.
 Economic Factors: This will affect the purchasing power of the customer, the
increase in demand will make an impact on the profitable organisation of the
company. It will be affective through the growth and demand of the customer and
make sure to manage the unemployment rate, increase the economic growth and
interest rate make an impact on the online platform venture.
 Social Factors: This is very important for the company to work and make effective
and authorised data protection and items which are helpful for the growth of the new

business idea. The social factors in new business are related to brand loyalty,
packaging, warranty, date of expiry and many more are majorly related to the growth
and opportunity of the company.
 Technological Factors: In the online platform of the business activities, it is
important to the owner of the new business to use upgraded technologies and software
in the online business platform as it would be related to effective growth and objective
of the business activities (Cunha, Leite and Polónia, 2020). Further it could be related
to advance technologies and up gradation in the market to make effective technologies
and achievement in market analysis.
 Environmental Factors: Here all the eco-friendly products and service are
considered and make sure that company are able to provide effective growth in
market due to some unauthorised software and make sure to analysis effective
changes in market and company’s profile. Which are needed to be provide effective
growth and applicability in the market and essential growth in advance technologies.
 Legal Factors: There are different parts which are needed to be make sure about the
legal aspect and growth of the company. It has been related to the effective growth
and objectivity of the business are related to effective changing profile and ability to
make health, safety, product regulation act. As UK market of retail online industry is
very popular and advance in the technology and able to manage its cost and demand
in the market analysis.
Competitive analysis
New companies can join the market, affecting competition. Every company should
theoretically be able to reach and exit a market, and therefore income should still be nominal.
In the real world, markets are characterized by their ability to defend high profit levels of
business companies while still preventing new competitors from entering the market, a
phenomenon known as barriers to entry. It's no longer just about driving engagement or
finding trends on social media; it's also about improving brand loyalty and product emphasis.
The truth is that advertisers no longer have leverage (Donata and Zhou, 2018). Blogging is an
excellent ability to develop online visibility, particularly from prospects that have not yet
made a purchase decision. It will also help you gain respect in your field and put yourself as a
think leader. You may use an affordable or discounted website tool to create a free site using
one of their models to make a post. And when you only release once a week, this should help
to increase your website's online presence and inform your future customers on why they

should trust your brand. Consumers now control a larger portion of online exchanges about
your brand. Consumers in their networks value their friends' and colleagues' feedback and
ratings rather than your advertising (Broadley and et.al., 2016). This emerging reality has
long been recognized by the cosmetics industry. They are ahead of the game when it comes
to social marketing acceptance, from YouTube to YouTube for Instagram. 96 percent of retail
brands, as according Statista, have an Instagram page. One of the first industries to recognize
the value of influencer marketing is the retail industry.
Consumers are no longer looking for retail items in the same way they used to, and
conventional advertising no longer has the same clout. Retail marketers are working with
influencers to further attract and connect with their target demographic, while customers now
crave authenticity and inclusivity. Influencers typically have a well-curated network of fans
who believe in their views and can connect to their posts. You would value a friend's opinion
in the same way. Before committing to buy from you, the average customer deserves to
experience a genuine human bond with your brand. Consumers use their mobile devices to
scan for fresh and fascinating material on social and digital news feeds. They are more likely
to click on deals or advertisements if the material is rich enough to hold their interest. Any
marketer knows how difficult it is to capture the interest of our target audience. Everyone is
making material, but only a compelling narrative will fully engage the viewer (Foss and
Saebi, 2018). Consumers have been apathetic to advertisements as a result of being
bombarded by too much advertised material. When, on the other hand, the material is
generated by a fellow user, an ordinary citizen, they are more likely to engage with it. Before
committing to buy from you, the average customer deserves to experience a genuine human
bond with your brand. Consumers use their mobile devices to scan for fresh and fascinating
material on social and digital news feeds. They're more likely to press if the material is
interesting enough to hold their attention.
Target market and customer
This is a customer who starts using makeup as an adult, beginning with word of
mouth, growing in interest in these items. The target customers of retail firm are that they can
manage to work efficiently. When the new retail company is present in market then there are
some ways to manage the communication scenarios. There is need to develop new ways to
capture the target customers. Business analysts employed in the retail industry for example,
may need a degree related to their profession. Many interested in working in direct marketing
can find that having a numerical experience is advantageous (Krasadakis, 2020). And if

you're coming from a completely unrelated field, you might find that obtaining a technical
degree from a sales academy, for example, would make the transfer even simpler because it
will eventually improve your application and show your ability to acquire new marketing
skills.
Marketing Mix
Product – The main product are work and manage as per the growth of different
sector of retail industry and work to manage different home essential, grocery and daily life
products.
Price – Initially, the company's products were designed for professionals such as
make-up artists, actresses, and models, but over time, the company's target markets have
expanded to include customers in the general industry (Kroto, 2017). Retail industry has been
able to establish a strong reputation that allows it to stand out from its rivals with a
combination of style and quality. It does something special that cannot be duplicated because
it evolves over time.
Place – Initially, the company's products were designed for professionals such as
make-up artists, actresses, and models, but over time, the company's target markets have
expanded to include customers in the general industry. With a mix of architecture and
functionality.
Promotion - These are done through social media marketing. Products of this retail
industry brand are promoted to people in proper manner.
SWOT analysis of the business
After analysing the competitive, targeted customer and marketing mix of the new business
venture. It is important to analysis and make sure to adopt effective internal analysis. As the
need of SWOT analysis are helpful and make sure to work on the cosmetic nature of the
company.
 Strength: Strength of the company is to make online platform and able to serve their
customer in the pandemic where they are not able to go out. Further another strength
for the company is to provide large varieties of the products related to different brands
are related to make effective changes and make suitable for opportunities in the
market growth. To work in market and complete all the desired of the company are
highly related to effective and objective which are essential to work and manage.

 Weakness: Making effective online platform and provide each customer demand
completed are important and essential growth of the company (O'Brien, 2020). One of
the major weakness for the company is that to make different profile and able to make
sure which are highly related to rise in the digital high-end advertising and make sure
to analysis the portfolio of the company.
 Opportunities: One of the important sector is basically related to growth of the
company which are highly related to effective organisation and make systematic
approaches. There are specific target are related to women market and the growth in
this market are highly related to make and opportunities in the market at global level
of cosmetic products.
 Threat: The biggest threat for the new business venture is basically related to more
options for customer, price changing nature, innovative packaging and further stress
on the quality of the products of the new venture (Sier, 2018). The threat of the
products are able to make sure to analysis and applicable for the growth and
opportunities in the market analysis in the company. It would be facing difficulties
due to high competition in market and prove their position in the market.
Conclusion
From the above discussion, it is analysed that retailers, both internal and external, are moving
to capitalize on this trend. Watsons of Hong Kong competes in the retail industry. Tesco and
Amazon, too, is making inroads into this market with the Amazon storefront and
commercials. it is a good time for investing in cosmetic industry. Purchasing patterns of
consumers have been shifting since many years. It is considered that the marketing ways have
to be managed efficiently for developing customer satisfaction. There is need to manage the
way in which customers are able to manage their work.

References
Books and Journals
Beckett, R.C. and Vachhrajani, H., 2017. Transdisciplinary innovation: connecting ideas
from professional and user networks. Journal of Industrial Integration and
Management, 2(04), p.1750016.
Broadley and et.al., 2016. From Participation to Collaboration: Reflections on the co-creation
of innovative business ideas. In DRS2016: Design Research Society 50th
Anniversary Conference (pp. 1739-1758). Design Research Society.
Burns, P., 2016. Entrepreneurship and small business. Palgrave Macmillan Limited.
Cunha, J., Leite, T.R. and Polónia, D.F., 2020. New Business Ideas Incubation Process: Some
Exploratory Findings of Three Portuguese Business Incubation Programs.
In Handbook of Research on Driving Industrial Competitiveness With Innovative
Design Principles (pp. 47-65). IGI Global.
Donata, S. and Zhou, Y., 2017, August. Defining Criteria for Completeness of
Entrepreneurial Ideas. In 2017 International Conference on Management Science
and Engineering (ICMSE) (pp. 151-156). IEEE.
Foss, N.J. and Saebi, T., 2018. Business models and business model innovation: Between
wicked and paradigmatic problems. Long range planning, 51(1), pp.9-21.
Krasadakis, G., 2020. From Ideas to Opportunities. In The Innovation Mode (pp. 173-208).
Springer, Cham.
Krotov, V., 2017. The Internet of Things and new business opportunities. Business
Horizons, 60(6), pp.831-841.
O'Brien, K., 2020. Innovation types and the search for new ideas at the fuzzy front end:
Where to look and how often?. Journal of Business Research, 107, pp.13-24.
Sier, J., 2018. The business of ideas. Professional Planner, (115), pp.26-27.