Principles of Business Sba (Example

Only available on StudyMode
  • Download(s) : 1259
  • Published : January 29, 2013
Open Document
Text Preview
[pic]Be Powerful, Be Pretty, Be Glamorous
Establishing a Business: Marketing
[pic]
Student Name: Briana Brathwaite
Registration Number:
Name of School:
Territory:
Year:

Table of Contents

Description of the Business………………………………………………………3

Organization of Marketing Department………………………………………….4

Marketing………………………………………………………………………...4

Market Research(target population)…….…………………………………...4

Price…………..……………………………………………………………...5

Competitors…………………………………………………………………..5

Substitutes……………………………………………………………………5

Sales forecast………..……………………………………………………….5

Product/service…………………………………………………………………..6

Pricing Strategy………………………………………………………………….6

Place……………………………………………………………………………...6

Promotion mix……………………………………………………………………6

Government Regulations…………………………………………………………7

Use of technology………………………………………………………………..7

Customer Complaints……………………………………………………………7

Ethical Issues…………………………………………………………………….7

Bibliography

Appendix

The type of business in which I am involved is the cosmetic industry, operated as a partnership. The name of the store is Glambition (Be Powerful, Be Pretty, Be Glamorous) targeting an international market of adult women whose mission is to glamorise women and enhance their facial beauty.

The business is owned and operated by Briana Brathwaite and Stacy Bryant and has been opened since November 6, 2010. The contact info. is as follows:

Email: brialuren25@hotmail.com
Telephone: (246) 427-8565
Website: www.glambition.com

Opening hours are as follows:

Monday - Saturday 10:00 a.m. - 9:00 p.m.

Online shopping is also available

ORGANIZATION OF MARKETING DEPARTMENT

In the business their will be 11 members of staff per store.

[pic]

Roles of Staff Members:
← Manager: staffing, organizing, planning, leading and controlling. ← Supervisor: review job letters, plans daily schedule, helps colleagues with any issues, enforce discipline in the workplace. ← Cashier/ store assistant: restock shelves, count the amount of money in cash drawers, cash checks for customers, resolve customer complaints, answer customer's complaints and maintain clean check out areas. ← Cleaners: keep the store neat and organized also take care of any spills.

Market Research:
← At this stage, we are targeting the national market only ← Our target market is in the 15-25 age group
← We are only targeting females

We have made visits to different cosmetic stores around the country to find out which type of make-up is used regularly and who mostly uses it. My response was many women purchase eyeliner, mascara and eye shadow.

In this national market:
← There are 20,000 consumers in this age group

Price

The market is fairly price-sensitive. We have analysed the prices of the other brands, which sell similar cosmetics in the drug store at $10.50 for a foundation or powder and $18.50 at high-end department stores or their own individual store. (example: Cover Girl $10.50 to Mac $18.50 for a powder that is used for the same purpose) .

Competitors
Our closest competitors are two international brands. They are both well established. One of those brands has about 40% of sales while the other has 38% of women using their product.

Substitutes

← Mascara
Use: petroleum
How to use: A little Vaseline dabbed on your lashes with your fingertip will define them and help them glisten and catch the light.

← Foundation
Use: Loose powder or concealer mixed with moisturizer.
How to use: Pour some moisturizer into your palm, tap a little powder or a finger dab of concealer into it, and mix until it has the consistency of foundation. You may not want to...
tracking img