A Business Proposal for Entering a New Market for Body Shop Company
A business proposal for entering a new market for Body Shop Company
Proposal for entering a new market
Introduction
The purpose of this proposal is to envisage and to investigate the prospects for entering a new market.
Current situation
Currently, the company is the leader in the natural cosmetic segment on the UK beauty product market, which is on the rise at the moment. Although the competition is getting tougher since more and more new entrants are breaking in the market.
In response to the growing competition the marketing department has come up with the following initiative.
Proposal
After the primary market analysis including competitors’ current offerings, consumers’ unmet needs and distributors’ feedback, a huge potential for our brand to launch a new product range was revealed.
Judging by the marketing research, which has been recently carried out, it seems to be reasonable to investigate the entrance in the baby care segment.
Firstly, according to our findings, the vast majority of our loyal customers have little children who require specific products providing harmless and delicate body care due to natural ingredients.
Moreover, it’s worth mentioning that our brand image and its core values such as naturalness, careful non-animal testing certainly fit this product category specificity.
At the same time, the company already possesses most required resources: qualified people, scientific expertise, reliable suppliers, not to mention high brand awareness and customers’ loyalty.
Conclusions
Based on the primary analysis, there is evidence to suggest that the company would