Entrepreneurship Project: Launching an Anti-Aging Cream Product

This project focuses on the development and launch of an anti-aging cream targeting middle-aged women. It begins with an introduction and explores the characteristics of successful entrepreneurs, including self-motivation, leadership, and risk-taking. The project then analyzes the author's own entrepreneurial qualities and evaluates both internal and external factors impacting entrepreneurial culture. A detailed situational analysis is conducted, encompassing SWOT, PESTLE, and Porter's Five Forces models, to assess the market landscape. The project outlines the company's mission, vision, and objectives, followed by an STP (Segmentation, Targeting, and Positioning) analysis. The anti-aging cream is positioned as a premium product addressing skin health concerns, with strategies for product, pricing, place, and promotion. The conclusion summarizes the key findings and strategies for successfully launching the anti-aging cream in a competitive market.

Creating a New Product
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Contents
1. Introduction..................................................................................................................................4
2. Entrepreneurs: Characteristics and qualities...............................................................................4
3. Own entrepreneur Characteristics................................................................................................4
4. Evaluate the internal as well as external factor affecting entrepreneurial culture.......................5
6. Mission, Vision, Aim of objective of company...........................................................................5
7. Situational analysis......................................................................................................................5
8. STP..............................................................................................................................................6
9. Conclusion...................................................................................................................................6
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1. Introduction
The documentation is mainly focused on the developing the product which always attracts
women in the marketplace. In order to establish a new cream in market which has already
overflowing with item. In marketplace, it will be launching the ant- aging cream for women such
as kin. The anti-ageing cream is to be consider as premium item which mainly targeting the
middle aged women who will conscious about their healthy skin.
2. Entrepreneurs: Characteristics and qualities.
A success in entrepreneurship is not assumed the innovative idea but interesting concept to
manage the business success in their venture. As identified the different characteristics and
quality of successful entrepreneur (Boyadzhiev and et.al., 2020).
Self-Motivation
It is one of most common quality which always self-motivation and want to succeed. It is
an essential part to push the business with own quality. In order to make an effective plan before
launching the ant-ageing the cream in the marketplace.
Leadership quality
It is another important quality of successful entrepreneur which has become a leadership
quality to provide the guidance of their team members.
Take risks
A successful entrepreneur know that sometime, it is important to take risk and lead the
entire business success (Brewin, 2020). It is considered the best quality to handle the business
performance while implementing an effective strategies.
3. Own entrepreneur Characteristics
Being entrepreneur, I have owned leadership quality which help for motivating other staff
members. In order to identify the business need and requirement. So that it help for enhancing
the overall business performance, launching a new innovation item for women’s.
4. Evaluate the internal as well as external factor affecting entrepreneurial
culture.
Internal factors affecting on the entrepreneurial culture whereas customer lose their jobs
and satisfaction level. It may consider as high interest rate which always discourage client from
spending. It is becoming difficult to control the economy. On the other hand, managers and
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employees are plays major role within organizational internal environment. Manager have
capable at good handling but increases internal politics, confliction among staff members. In this
way, it has been affecting the environment or culture of organization.
External factor such as competitive from other business. The organization start to fight
against the establishment and more experience in similar industry (Faria-Silva and et.al., 2020).
In this way, it become difficult for organization to maintain their position in global marketplace.
Afterwards, this external factor is affecting on the entrepreneurial culture.
6. Mission, Vision, Aim of objective of company
Aim: To launch the new anti-ageing cream for women in marketplace. As case study on Farmec
company.
Mission: The primary mission of organization is to expand their business, Also attracts more and
more women through ant-ageing cream.
Vision: The vision of organization to improve their business productivity as well as profitability
in marketplace.
7. Situational analysis
SWOT analysis
Strength
 Customised the treatment option through anti-ageing company which always attracts
more and more women (Kuehn, 2020).
 In Farmec Company, it can be adapting the strategy to target the customer.
 Farmec firm has been hired the efficient specialist that provide the better facilities so that
women experience in domain of skin care.
Weakness
 Farmec Company will be considered the little advertising of its product.
 It has become low service because of crowded shopping canter location.
 It has slower the distribution due to their chemical legislation.
Threat
 High competition level in the cosmetic market with launching new product itself.
 Legislation related trade increase problem or issue in business operations.
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Opportunities
 Increased the awareness of organic as well as eco-friendly items.
 It is increasing the online buyers and hence use official website to purchase product.
PESTLE analysis
 Political: This factor plays significant role in identifying the impact on Farmec Company
in long-term profitability in certain market. Sometimes, it has increased political risk due
to diversification, political instability (Zhao and Zhu, 2020).
 Economic: This factor may include inflation rate, saving and foreign exchange that
mainly determine aggregate demand and investment in the economy. In this way,
competition norms impact on the Farmec firm in term of exchange rate and efficiency of
financial markets.
 Social: this factor is mainly impact on the Farmec in the environment because population
have significant attitude which plays important role in marketplace.
 Technological: The Farmec firm do not only use technological analysis for industry but
also speed at certain level where technology disrupt the business. In order to improve the
performance and efficiency of enterprise.
Porter’s five force model
 Threat of New Entrants: It is based on the competitive industry, thus attract new entrant
striving to capture market share. It leads to drop in the profitability of existing companies.
 Threat of Substitute: Some women’s also think of these substitutes as old ineffective
cream and conscious about their skin. In this way, the threat of substitute is lower.
 Competitive Rivalry: The degree of competition among different rival is high, supply
products and service greater than demand (Zhao and Zhu, 2020).
 Supplier Power: The bargaining power of supplier is low and impact on the overall
business profitability as well as productivity.
 Buyer power: It has increased the competition so that products have given buyers of high
power. In this way, it is difficult for maintaining long-term profitability as well as
productivity.
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8. Segmentation, Targeting and Positioning
STP are considered the process which help for understanding and analysing target.
Segmentation process will be dividing into entire market within smaller parts of customers on the
basis of their demand, preference, and taste (Zhao and Zhu, 2020).
Targeting is a process for selecting the different subsets. The firm is mainly targeting women
who are over 35-40 years.
 Product: Ant-ageing cream is new item which will bring uniqueness of product in term of
business positioning. It is capable to provide solution of dark spot, dull skin and dry
patches.
 Pricing: It is another important positing strategy that help for giving item at reasonable
item. In this way, it has increase the demand in marketplace.
 Place: The organization will maintain the availability of ant-ageing item in the physical
stores.
 Promotion: It mainly used the online distributed channel for promoting the quality of
product and how it will be beneficial for women’s. In additional, it also used the different
way to sell new product in global world (Zhao and Zhu, 2020). It involves Sales
promotion, direct sales and Personal selling. Sales promotion use official website,
smartphone application, direct and personal selling use telephone call and other email.
9. Conclusion
From above discussion, it has been summarised about the launching the product in which
always attracts more women through new cream. In order to establish a new cream in market
which has already overflowing with item. This type of anti-ageing cream which has provided the
better skin care. It may include as premium item which mainly targeting the middle aged women
who were conscious about their skin care.
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REFERENCES
Book and Journals
Boyadzhiev, A. and et.al., 2020. Enhanced Dark-Field Hyperspectral Imaging and Spectral
Angle Mapping for Nanomaterial Detection in Consumer Care Products and in Skin
Following Dermal Exposure. Chemical Research in Toxicology. 33(5).pp.1266-1278.
Brewin, S.R., 2020. The DIY Apothecary: Create Your Own Natural Bath & Body Products.
FriesenPress.
Faria-Silva, C. and et.al., 2020. Feeding the skin: A new trend in food and cosmetics
convergence. Trends in Food Science & Technology. 95. pp.21-32.
Kuehn, B., 2020. Mercury poisoning from skin cream. Jama. 323(6). pp.500-500.
Zhao, L. and Zhu, H., 2020. The research status of cosmetics and the establishment of biological
beautiology. Life Science Journal. 17(2).
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