Entrepreneurial Marketing at the Peace & Fashion (GC063)
Executive Summary
The aim of this report is to develop a business plan for a proposed new and start-up small entrepreneurship business, named Peace & Fashion. The finding of this report comes from both primary and secondary sources, and from the creative and innovative thinking of the proposed business’ entrepreneurs.
Entrepreneurship is the beginning point to be a larger and famous brand worldwide. There are opportunities for entrepreneurship United Kingdom. However, entrepreneurship in the UK is facing a number of challenges along with opportunities, where the key challenge of new and start-up entrepreneurship is the limitations of resources in comparison to the big brands. Small and new entrepreneurship can turn the challenges faced with opportunities by developing effective marketing strategies.
The key activities of the proposed entrepreneurship will be selling women’s clothing mainly Islamic reassesses in wholesales. The key products will be different kinds of short and long dresses (such as Abaiya, Veils, Scaffs, Hijabs, brand and panty, etc. ) for the women. The proposed business will be a partnership business, where there will be four partners who are fresh graduates from reputed UK universities. The investment of the proposed business will come from these four parterres. The initial investment is £100,000, where every partner will contribute £25,000. The products will be mainly supplied from the Middle East (mainly Dubai and Saudi Arabia) and Bangladesh. The products will be served based in East London, where the key customer segment is Muslim women from teenagers to older ages.
Peace & Fashion should follow the business strategies of bigger companies as the training and development grounds. In addition, Peace & Fashion should go with the strategies of big and successful organizations. Then, “Peace & Fashion” to follow the competitors that are popular brands with success and experiences. Next, Peace & Fashion must follow the strategies applied by its experienced and successful competitors.
Executive Summary.
1.0 Introduction.
1.1 Justification of study.
1.2 Study Objectives.
1.3 Scope of the study.
2.0 Description of the proposed start-up business.
2.1 Business background, ownership structure, and products and services.
2.2 Vision and mission of the proposed business (Peace & Fashion).
2.3 Goals and objectives of the proposed business (Peace & Fashion).
3.0 Entrepreneurial Team.
4.0 Market Analysis.
4.1 Industry Analysis.
4.2 Market Assessment for the proposed business, Peace & Fashion.
4.2.1 Supplier information.
4.2.2 Marketing communication channels.
4.2.4 Customer Analysis.
4.3 External business environment analysis for the proposed business.
4.4 SWOT Analysis for the proposed business.
5.0 Competition analysis.
5.1 Proposed business competitors.
5.2 Competitive edge of the proposed business, Peace & Fashion.
6.0 Entrepreneurial marketing strategies for the proposed business.
6.1 Segmentations for the proposed business-2016.
6.2 Targeting/market target
6.2.1 Targeting for the proposed business -2016.
6.3 Positioning.
6.4 Growth strategies for the proposed strategy.
6.5 Scott and Bruce’s model used in the proposed business plan.
6.6 Guerilla Marketing.
6.7 Sponsorship marketing.
6.8 Viral Marketing.
6.8.1 Social Media Marketing.
6.8.2 Email marketing.
6.8.3 Mobile Devices.
6.9 Marketing mix strategy for the proposed business’s marketing.
7.0 Marketing budget.
7.1 Estimate the marketing budget for the proposed business-2016.
7.2 Marketing budget for the proposed business, Peace & Fashion – 2016.
7.4 Controlling marketing activities.
7.5 Contingency plans.
8.0 Financial activities.
8.1 Sources of finance.
8.2 Estimated Cash flows- 2016.
8.4 Estimated Balance Sheets.
9.0 Concussion.
References
1.0 Introduction
1.1 Justification of the study
The majority of big and successful companies (eg. Coco-Cola, IBM, Microsoft) were small entrepreneurship organizations once they started (Coulter, 2014). This indicates that entrepreneurship is the beginning point to be a larger and famous brand worldwide. There are huge opportunities for entrepreneurship United Kingdom. according to a report published by National Statistics (2015), the value of entrepreneurship in the UK was about £7 million in 2014, which was nearly 12% higher than the previous year of 2013.
However, entrepreneurship in the UK is facing a number of challenges along with opportunities (Morris et al., 2014). The key challenge of new and start-up entrepreneurship is the limitations of resources in comparison to the big brands. Thus, the entrepreneurship face difficulties to survive in the competitive marketplaces (Hills, Hultman, and Miles, 2008). For instance, it is difficult for a new and start-up retail entrepreneurship to gain improved market share and retain customer because of well-known and bigger brands including Tesco and Sainsbury’s……….
1.2 Study Objectives
The objective of this study is to develop a business plan for a proposed new and start-up entrepreneurship. The name of the proposed business is “Peace & Fashion “. As part of the business plan, first, the background of the proposed business is outlined. Then, mission and vision with the aims and objectives of the proposed entrepreneurship are defined. Next, the strategies on how the proposed business can enter into the market and gain success are identified. Following these, the management and financial resources are outlined for the proposed business.
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1.3 Scope of the study
Small and start-up entrepreneurship has strength mainly in creativity and innovation of product designs. However, the key weakness of entrepreneurship is they face difficulties in promoting the products and/or services in the right marketplace. The challenges come also in attracting the right customer segment and fight with competitors mainly the large brands. Therefore, Peter (2013) suggests the small and start-up entrepreneurship follows the business strategies of bigger companies as the training and development grounds. Morris (2014) also agreed with the statement developed by Peter (2013) suggesting the new entrepreneurship to go with the strategies of big and successful organizations………….
2.0 Description of the proposed start-up business
2.1 Business background, ownership structure, and products and services
The name of the proposed small and new start-up business is Peace & Fashion. The key activities of the proposed entrepreneurship will be selling women clothing mainly Islamic reassesses in wholesales. The key products will be different kinds of short and long dresses (such as Abaiya, Veils, Scaffs, Hijabs, brand and panty, etc. ) for the women. The proposed business will be a partnership business, where there will be four partners who are fresh graduates from reputed UK universities……………….
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