unit 36 p3 m2

UNIT 36 P3

Describe the skills needed to run the business successfully and what areas require further personal development

Skills

1.Own contribution
2.Technical and operational skills
3.Management skills
4.Records and checking performance of business
5.Personal selling
6.Administration
7.Previous experience
8.Strengths and weaknesses

Do I have it?

1.Yes
2.Yes
3.Yes
4.Yes
5.Yes
6.No
7.Yes
8.No

Evidence

1.As I will be running this business alone, I will have full power over it and have control over what I want the business to offer and how it is run. If their are problems or gaps in the business, then I will consider employing staff to fill those gaps who have had previous experience in the industry or have the specific skills which are my weaknesses. I am good at balancing my work life with my personal life as I am a mum of two young children which I have to balance with my work which is challenging although I am used to it and fit both as priorities. However, I will work on my weaknesses and improve them before starting up my business. I will put my strengths into the business and use them appropriately to enable the business to be as successful as it can be.

2.Because I have had experience in the make-up industry, this will help me when setting up my own business, as I would have had experience as well as being highly knowledgeable about the products which is an extremely important aspect. This will ensure I have appropriate customer service because I will not employ anyone who doesn't have appropriate knowledge of the products I sell. I've also learnt to keep up with the up-to-date information and the competition within the make-up industry by reading books, magazines and articles that are on the internet. Also, by working on the till and behind the counter this has helped me to develop various skills such as organisation, handling money, stock checking etc. By having good IT skills it will mean I will be bale to manage and work on the financial side of the business so I can determine where the business is going, what I spend my money on and how I man maximise the profit I make.

3.Being a manager will be extremely difficult as they have a lot of different jobs to abide by however, managers have 3 mains skills in order to succeed. These include having human skills, technological skills and conceptual skills. I am able to lead effectively as a manager, because I currently manage my 2 staff and we all communicate appropriately and effectively. This has resulted in a positive outcome because my free-lance business has been successful. For example, If I am unable to make a client, I will send one of my trained and qualified staff as I have trained them strongly. If a product needs to be developed or I feel it isn't selling, I have the right technical skills to change this around and make a product be successful. Alongside this, I am able to perceive products and develop new concepts into the business where necessary. Overall I have good management skills due to having experience managing my own free-lance make-up business where I have to manage staff.

4.Running my business will require a lot of record checking and monitoring so that I am able to keep on top of my records and keep them on track. I currently keep on top of my financial records and take corrective measures to ensure problems are avoided. From running my free-lance business, I am able to monitor record and important information as I am used to doing this as I run my business alone. I constantly check my records alongside my aims and objectives for the business and the measure my performance which is done by gathering information on; production, sales, quality of products that have been returned. Additionally, I have to continually check the amount of money in the bank account to ensure the money I am owed comes in before the money I owe comes out. Lastly, I will compare the standards against my businesses performance and then make applicable improvements. My business is successful and has not collapsed which sows a sign of good monitoring. I monitor my records frequently and if I spot an issue I resolve it instantly. Some of the skills I had to do were, meeting set targets, selling insurance, checking profit after sales etc. I have also obtained knowledge and experience about monitoring the financial side of a business as I had plenty of assignments in the finance unit of my business coursework.

5.I have previously worked at MAC and Charlotte Tilbury which are two of the most successful businesses in the make-up industry. From working at both businesses, I had to greet customers politely, liase with customers on a daily basis, direct sell, have a high understanding of all the products, give advice about different products, communicate with customers over the phone, persuade customers to buy a product and had to work at the till. Also, I was able to identify customers product needs and what products sell the most and what don't. From working and selling my own  products for quite a while now, I am able to have strong knowledge about the products I sell and the benefits of them. From working at MAC and Charlotte Tilbury, I was able to gain valuable skills and experience that will help me when setting up my own business.

6.In order to be a good administrator, I will need to work on my organisation skills as I am somewhat messy and not the most organised person in order to be a successful administrator. However, I have good communication skills and I am very logical which is useful and good attributes to have. As I will be the administrator of my own business I will have to carry out all the jobs that they have to do which include; distribution, stock control, meeting and greeting customers, preparing and dispatching invoices, repeating and printing documents, doing accurate research, using the telephone etc. I haven't had experience of being an administrator before which means I haven't had to practise many of those skills before. I will have to abide by all health and safety laws and ensure all staff are aware of the risks and the hazards. I will be responsible for providing training to the staff to minis health risks that could occur. I will be responsible for controlling the business transactions along with the expenditures which will be done using appropriate software.

7.I have had plenty of previous experience, which includes working at MAC Makeup along with Charlotte Tilbury from which I now run a freelance Make-up business from my home salon. During achieving my BA (Hons) in Make-up, I had plenty of experience working with performing make-up on some high profile celebrities along with shadowing and assisting professional makeup artists. Ive also had experience where I did 3 actors make-up on set for a film in which I got paid. This will help me majorly when starting up my new business because I am experienced and now what I am doing.

8.When starting up a business alone I need to ensure all my strengths out way my weaknesses otherwise my business will fail. I will not ignore my weaknesses because they need to be addressed and turned into a positive in order for my business to be successful. The strengths I have are that I have good communication skills, I am a good business women, I have great leadership skills, I am independent, I have knowledge of financial literacy, I have commercial awareness, I am punctual and have good attendance, I have strong mathematics skills, I have good research skills, I am confident and approachable and I am good at making appropriate decisions. Although my weaknesses are that, I am not as organised as I should be, I cannot work under pressure, my IT skills are lacking, I need to work on my tidiness.

Rating

1.7
2.7
3.8
4.7
5.8
6.6
7.9
8.6

Skills	Do I have it?	Evidence	Rating out of 10
Own contribution	YES	As I will be running this business alone, I will have full power over it and have control over what I want the business to offer and how it is run. If their are problems or gaps in the business, then I will consider employing staff to fill those gaps who have had previous experience in the industry or have the specific skills which are my weaknesses. I am good at balancing my work life with my personal life as I am a mum of two young children which I have to balance with my work which is challenging although I am used to it and fit both as priorities. However, I will work on my weaknesses and improve them before starting up my business. I will put my strengths into the business and use them appropriately to enable the business to be as successful as it can be.	7
Technical and operational skills	YES	Because I have had experience in the make-up industry, this will help me when setting up my own business, as I would have had experience as well as being highly knowledgeable about the products, which is an extremely important aspect. This will ensure I have appropriate customer service because I will not employ anyone who doesn't have appropriate knowledge of the products I sell. I've also learnt to keep up with the up-to-date information and the competition within the make-up industry by reading books, magazines and articles that are on the internet. Also, by working on the till and behind the counter this has helped me to develop various skills such as organisation, handling money, stock checking etc. By having good IT skills it will mean I will be bale to manage and work on the financial side of the business so I can determine where the business is going, what I spend my money on and how I man maximise the profit I make.	7
Management skills	YES	Being a manager will be extremely difficult as they have a lot of different jobs to abide by however, managers have 3 mains skills in order to succeed. These include having human skills, technological skills and conceptual skills. I am able to lead effectively as a manager, because I currently manage my 2 staff and we all communicate appropriately and effectively. This has resulted in a positive outcome because my free-lance business has been successful. For example, If I am unable to make a client, I will send one of my trained and qualified staff as I have trained them strongly. If a product needs to be developed or I feel it isn't selling, I have the right technical skills to change this around and make a product be successful. Alongside this, I am able to perceive products and develop new concepts into the business where necessary. Overall I have good management skills due to having experience managing my own free-lance make-up business where I have to manage staff.	8
Records and checking performance of business	YES	Running my business will require a lot of record checking and monitoring so that I am able to keep on top of my records and keep them on track. I currently keep on top of my financial records and take corrective measures to ensure problems are avoided. From running my free-lance business, I am able to monitor record and important information as I am used to doing this as I run my business alone. I constantly check my records alongside my aims and objectives for the business and the measure my performance which is done by gathering information on; production, sales, quality of products that have been returned. Additionally, I have to continually check the amount of money in the bank account to ensure the money I am owed comes in before the money I owe comes out. Lastly, I will compare the standards against my businesses performance and then make applicable improvements. My business is successful and has not collapsed which sows a sign of good monitoring. I monitor my records frequently and if I spot an issue I resolve it instantly. Some of the skills I had to do were, meeting set targets, selling insurance, checking profit after sales etc. I have also obtained knowledge and experience about monitoring the financial side of a business as I had plenty of assignments in the finance unit of my business coursework.	7
Personal selling	YES	I have previously worked at MAC and Charlotte Tilbury, which are two of the most successful businesses in the make-up industry. From working at both businesses, I had to greet customers politely, liase with customers on a daily basis, direct sell, have a high understanding of all the products, give advice about different products, communicate with customers over the phone, persuade customers to buy a product and had to work at the till. Also, I was able to identify customer’s product needs and what products sell the most and what don't. From working and selling my own products for quite a while now, I am able to have strong knowledge about the products I sell and the benefits of them. From working at MAC and Charlotte Tilbury, I was able to gain valuable skills and experience that will help me when setting up my own business.	8
Administration	NO	In order to be a good administrator, I will need to work on my organisation skills as I am somewhat messy and not the most organised person in order to be a successful administrator. However, I have good communication skills and I am very logical which are useful and good attributes to have. As I will be the administrator of my own business I will have to carry out all the jobs that they have to do which include; distribution, stock control, meeting and greeting customers, preparing and dispatching invoices, repeating and printing documents, doing accurate research, using the telephone etc. I haven't had experience of being an administrator before which means I haven't had to practice many of those skills before. I will have to abide by all health and safety laws and ensure all staff is aware of the risks and the hazards. I will be responsible for providing training to the staff to minis health risks that could occur. I will be responsible for controlling the business transactions along with the expenditures, which will be done using appropriate software.	6
Previous experience	YES	I have had plenty of previous experience, which includes working at MAC Makeup along with Charlotte Tilbury from which I now run a freelance Make-up business from my home salon. During achieving my BA (Hons) in Make-up, I had plenty of experience working with performing make-up on some high profile celebrities along with shadowing and assisting professional makeup artists. I’ve also had experience where I did 3 actors make-up on set for a film in which I got paid. This will help me majorly when starting up my new business because I am experienced and now what I am doing.	9
Strengths and weaknesses	NO	When starting up a business alone I need to ensure all my strengths out way my weaknesses otherwise my business will fail. I will not ignore my weaknesses because they need to be addressed and turned into a positive in order for my business to be successful. The strengths I have are that I have good communication skills, I am a good business women, I have great leadership skills, I am independent, I have knowledge of financial literacy, I have commercial awareness, I am punctual and have good attendance, I have strong mathematics skills, I have good research skills, I am confident and approachable and I am good at making appropriate decisions. Although my weaknesses are that, I am not as organised as I should be, I cannot work under pressure, my IT skills are lacking, I need to work on my tidiness.	6

Further development that could be undertaken

1.To improve my own contribution to the business I will ensure I go on frequent training courses learn skills and new things that will help me run my business alone. I will ensure I balance my work and social life appropriately so this does not affect my personal life as well as my business. If I feel I cannot run the business alone with just my contribution, I will seek professional advice to support me and give me the correct advice on what to do. I could practise my interpersonal skills on a daily basis in my free time as well as speaking to motivational speakers as they would boost my confidence and I will be able to learn from them how they speak and present themselves.

2.In order to improve my technical and operational skills I will ensure I seek training to allow me to work on my skills. Also, I could consider employing new staff who have technical and operational skills which will help to fill the gaps of where I do not have those skills. The new staff could help me in improving my skills which would save me money on attending skills classes as well as time away from the business. Another option is to attend lessons in order to improve my skills on softwares such as Microsoft work, Powerpoint and Excel. Furthermore, I could attend clubs such as netball or football, where you have to work in a team environment as this will help me to gain and improve a load of new skills.

3.I could seek professional help for advice on how to be the best manager I can be and the right and wrong things to do. That would be really effective because they I would find out a lot of information that would be useful in how to be a manager. I could also ensure I go to frequent training courses which will allow me to become a better manager. In order to work on my time management I could work in a systematic way ensuring I have plans and time schedules for everything which will allow me to help plan out work schedules and keep a routine which is more professional. Also, this will allow deadlines to be met and improve the productivity of my business. Additionally, I could organise more meetings in order for staff to communicate their ideas across which can be helpful to improving the business.

4.I could attend maths skills classes in order to improve my data skills to make sure I complete the financial side of the business accurately, otherwise, monitoring my records would be pointless if the records weren't accurate and this could seriously affect my business because the financial side of it is one of the most important factors if I want the business to survive. I could store all the records, information and data in my own office which will be store securely and orderly ensuring they are tidy and easily accessible.

5.I could work on my communication skills by practising my along side any of my other staff who feel they lack communication skills. I could improve my technique when greeting customers, I could set in place a routine for greeting customers along with the technique used to persuade a customer to buy a product. I would ensure all my staff follow the same routine in order to build relationships with customers and entice them into buying my products.

6.In order to be more organised, I could have my own office where I would neatly put everything away and keep safely in order to not lose important things and work in a systematic way. All the information I keep with my easily accessible however, heavily secured because it is confidential information. I could also attend more health and safety training sessions and offer more for my staff in order to assure me and my staff are fully knowledgeable on the health and safety implications that have to be put in place within the business.

7.I could have more practise by doing free-lance makeup along side running my business in my free time. Also, I could constantly practise on people to gain more experience. When I am not working, I should learn any new products that are introduced efficiently and ensure my staff are aware of them immediately.

8.I could improve my weakness of being unable to work under pressure, by setting a realistic time scale in which I will complete this skill in. It will also help me by working long hours and having a tight schedule. My IT skills could be improved by attending an IT course where I will be able to use IT more sophisticatedly which will help me improve the efficiency of my business e.g. managing my website, filling out graphs, charts etc. Also, I will be able to monitor the financial records more efficiently now because I will have completed an IT course.


UNIT 36 M2

Analyse the personal development needed to run the business successfully

Within this assignment I will be analysing the personal development I feel needs to be implicated in order to run my business successfully.

Skills

1.Balancing my personal life and work life
2.Interpersonal skills
3.Technical and operational skills
4.IT Software skills
5.Time management skills
6.Organisation skills
7.Make-up experience skills
8.Working under pressure skills


Action

1.Speak to motivational speakers to see the way they speak, perform and ask them if they have any tips, set an assigned day for personal life away from work to have time to do what you want to do so you don't have an unhealthy unbalance.

2.Seek training in certain areas you feel are lacking, employ new staff who have the skills I do not have so they can fill the gaps in the business, join a team building club such as Netball or Hockey, practise speaking in front of a mirror in order to gain confidence.

3.Attend training courses to boost your skills, organise frequent meetings with staff in order to generate new ideas and communicate properly.

4.Go to a math class to gain more experience for working on the till and calculating prices, attend an IT course to improve working on software's such as Microsoft Word, Microsoft PowerPoint, Microsoft Publisher etc.

5.Set specific plans and time schedules for jobs that need to get done in order to work in systematic way, set deadlines so have more productivity in the business and to get things done quicker.

6.Have my own office which have folders and appropriate securely fitted places where I can keep important documents safe.

7.Do more free-lance makeup in spare time to get more experience, practise on family members or friends, learn any new products and teach staff, go to makeup classes to learn new tips and techniques, speak to make-up artists to gain more knowledge.

8.Set a realistic time schedule to meet a deadline, go to yoga or relaxation class to relieve stress from the workplace.

Deadline

1.2 weeks
2.4 weeks
3.3 weeks
4.2 weeks
5.5 weeks
6.1 week
7.3 weeks
8.2 weeks

Costs

1.
2.
3.
4.
5.
6.
7.
8.

Skill	Action	Deadline	Cost
Balancing my personal and work life	Speak to motivational speakers to see the way they speak, perform and ask them if they have any tips, set an assigned day for personal life away from work to have time to do what you want to do so you don't have an unhealthy unbalance.	2 weeks	This doesn’t have to cost to speak to motivational speakers, ask around, and see who is available. However, if no one is helping, then it may be worth while to pay to speak to someone
Interpersonal skills	Seek training in certain areas you feel are lacking, employ new staff who have the skills I do not have so they can fill the gaps in the business, join a team building club such as Netball or Hockey, practise speaking in front of a mirror in order to gain confidence.	4 weeks	Training may have a minimal fee which wont be costly although, it would depend on the amount of times you go to the sessions. Joining a club may cost depending where you join to play.
Technical and operational skills	Attend training courses to boost your skills, organise frequent meetings with staff in order to generate new ideas and communicate properly.	3 weeks	Training courses may have a minimal charge although depends how many times you attend the sessions. Staff meetings don’t cost which is good.
IT software skills	Go to a math class to gain more experience for working on the till and calculating prices, attend an IT course to improve working on software's such as Microsoft Word, Microsoft PowerPoint, Microsoft Publisher etc.	2 weeks	Attending a math’s class may have a small fee although one session will help majorly because math’s skills can be taught quicker than other skills.
Time management skills	Set specific plans and time schedules for jobs that need to get done in order to work in systematic way, set deadlines so have more productivity in the business and to get things done quicker.	5 weeks	This doesn’t have to cost as I will have all the equipment such as; paper, pens rules etc. already.
Organisation skills	Have my own office, which has folders, and appropriate securely fitted places where I can keep important documents safe.	1 week	Building space or an office can be extremely expensive, which I may not be able to afford. Although, having an office is essential therefore, when looking for my work space, I will ensure they have a side room which I can use as my office. Equipment such as; folders. Pens, trays aren’t expensive and are available locally.
Make-up experience skills	Do more free-lance makeup in spare time to get more experience, practise on family members or friends, learn any new products and teach staff, go to makeup classes to learn new tips and techniques, speak to make-up artists to gain more knowledge.	3 weeks	This wont cost me because the clients will be paying me as well as gaining more experience. However, teaching staff may cost as I will be using my own make-up supply. Speaking to make-up experts do not cost as you could end them an email or go into a store and see them
Working under pressure skills	Set a realistic time schedule to meet a deadline, go to yoga or relaxation class to relieve stress from the workplace. Have an area in the work place where you can go and have fresh air if you are too stressed or need a break.	2 weeks	Setting deadlines and a time schedule doesn’t cost anything although attending a yoga or relaxation class may have a minimal price, depending on what leisure centre you go to.

unit 36 p1 p2 m1

UNIT 36 P1

Present the initial business idea using relevant criteria

In this assignment I will be presenting my initial business idea using the relevant criteria.



I want to set up my own new business within the make-up market to sell my own branded make-up as I feel I have the right passion, determination and knowledge to do this successfully. My business will take a sole trader form of ownership meaning I will be the full owner. I choose this form of ownership because I feel being a sole trader has many benefits such as; having full control of the business meaning I can run it how I wish to, I will be able to keep all the profit made from the business to myself and lastly all data and information within the business such as trade secrets and recipes will be kept private and secure. All those factors are extremely important to me because they ensures I make decisions effectively and efficiently without any one else input which will allow me to meet the needs of my customers which will lead to an increase in profit. Being a sold trader can be challenging however, I know it will boost my self-esteem as I will have a sense of independence and it will be able to help me control my live more. As a sole trader I will be able to react to any competitors or any changes efficiently to ensure I am keeping up with the trends, competitors and the market. The products my business will provide are new and exclusive products to only my business. The products I sell will range from bronzers to makeup brushes, to makeup sponges and a whole lot more. I will be liable for every employee I hire as well as all the accounts within my business. Liabilities are my businesses obligations such as money that will need to be paid or services that must be performed. I will have unlimited liability over my business because I'm a sole trader, which has many benefits like having full control over the business and being able to keep all of the profit. Although, there are disadvantages because I will be personally responsible for anything that goes wrong.



My aims for the business is that it survives which will be achieved by making a profit/income and by gaining brand awareness as it is a new business and people won't be familiar with the brand. I aim to make a profit as my business needs to run, also I need to increase the market share which can be challenging however I am determined to do it. To be a successful business, my business needs to grow and expand which is why I need to make a profit to start off with in order for these future aims to happen. My products will be aimed at any females aged between 10-50, this is because there is a wide range of products that are suitable for different people which is why the target audience has a large age range. The products will be priced at an affordable high street price to attract customers however, not too cheap as customers won't want to purchase products that are priced too low as they fear the products represent the price.

A suggested name for my business was 'KANDY', pronounced CAN-DY, as this was thoroughly thought about after a million different names were proposed to me. However, I was really drawn to 'KANDY' because it has a vibrant sound to it and you instantly think of sweets and candy, which is colourful and happy which represents my products. The name has a good vibe to it and is happy which is why I feel this name is perfect to represent my business.

I have a real passion in beauty and make-up as I am a freelance makeup artist with a BA (Hons) Hair and Make-up qualification. I currently work freelance however, I recently opened up a salon at the side of my house where I have various repeat customers. I have previous work experience at MAC Makeup along with Charlotte Tilbury which have both helped to intensify my passion for make-up as I learnt a huge deal of knowledge and skills from working with both of them. My work and personal balance is really good as I know how to manage my personal life separately to my work life, I do not over load on work however, I am extremely professional and do not discuss any personal information with my clients. Managing my own business will be a lot of hard work although I am determined to manage it alone and deal with various things such as; creating profit and loss accounts, managing my accounts, operating day to day business activities, calculating break even points, fixed assets and fixed costs.

The unique selling point of my business is that all my products will relate to a different type of candy.   For example, I will be selling a range of mascaras, one of which is called Curly Cane which is a curl intensifier mascara to make your lashes extra curled. The colour of the bottle will be red and white just like a candy cane and it will be in the shape of a candy cane. There is defiantly a gap in the beauty and make-up market for my products as they do not already offer any products like this. I feel like my idea will really stand out from my competitors as they do nothing unique like this and are all closely competing on who has the best makeup and which is the cheapest. I also feel my business is attractive and stands out because there are not a lot of distinctive, quirky and cool makeup brands like mine. All the existing makeup brands all follow the same style and are plain and boring which is why I feel my products will sell. All the products I will be selling are difficult to imitate which means no other brand will copy them because they are distinguishing and exclusive to my business.

There are plenty external influences that I need to consider which include PESTLE analysis. The P stands for political which includes international trade relations, government stability, recession, the  possibility of war, tax and employment policy which are all essential aspects to consider when managing my business. Economic factors include tax increases, consumer confidence, banking crisis, economic growth and retail sales trends which also majorly apply to my business. Social consider things such as education, crime levels, retirement issues, changes in population and lifestyle changes. Technological involves technological changes in the industry, ICT application impacting the business and improvements in new equipment and machinery. Legal includes health and safety regulations, employment laws and competition policies. Lastly, the environmental factor considers things such as waste disposal, pressure groups, pollution legislation, the local community analysis of the business's activities. All these factors are extremely important and

UNIT 26 P2

Explain how to identify the target market

In this assignment I will be explaining thoroughly how to identify my target market for my business.

A target audience is a particular group at which a particular product/service is aimed. My target audience for my business are females aged between 10-50 therefore I need to really understand their needs, their spending habits, what makes them want to buy a product etc. Given that my business is new, I will need to carry out various different methods of research in order to receive information and data necessary to help me understand my target market and to understand if my business will be a success or not.

I will carry out market research to first gather research by using primary research as this will give me accurate and detailed information as I will be collecting the information first hand. By choosing primary research, this will allow me to make my research specific and choose questions to suit the needs of my research. Questionnaires and surveys are good formats that I may use in order to collect information as you can choose different question formats which will allow me to obtain short or detailed answers which are useful. Secondary research is also a good method to use to gather data as it is already existing which means It won't waste a lot of time as well as money which is a benefit. The information I need may have already been found out by researchers and published online however, I may need to do additional research in order to collect the most accurate and reliable research I can. Collecting research is a continuous process as you need to constantly meet customers needs and the information needs to maintain current and not out of date.

Published research, also know as desk research could actually benefit me as it is research which has already been carried out. Publish research will provide information about various relevant things such as; customer behaviour, consumer trends, market analysis, potential competitors etc. These are all vital factors to find out in order to help me when starting up my business because it will prevent my business from failing.

I need to be aware of the market place's potential and the best way to do this is by using primary research and sales forecasting in order to find out things such as; who will buy the products, how much are they willing to pay etc. As my business is new, it will take longer at the beginning however, the better my reputation gets and the more my business gets know, the better the forecast will be. Also, the forecast depends on the strength of the competition and seeing as the make-up industry is quite competitive I'm not sure how that will go. Secondary research can also be useful when forecasting sales as I could look at the past trends within the make-up market.

Customer needs and wants are an extremely important factor to consider because I need to be aware of their actions and choices. Sometimes customers do not always know what they want and don't have a preference however, the majority of consumers do. There is so much competition now a days a there is new technology and businesses are trying to compete with one another to be more successful. Direct competition is where businesses offer the same product however, indirect competition is where businesses offer different products that satisfy the same needs from the consumer.

SWOT have strengths such as internal ones like; having expertise in a specific area as this will mean you have had experience working in a business which is similar to working in a make-up business. The location is extremely important because finding the right place to place my store depends on various different aspects such as; if the area is busy, the population etc. The USP which stands for the unique selling point, is also really important to consider as you need to find a space in the market in which their is no business which sell the same products as I will be selling because if there is then my products wont do well because there wont be a reason for customers to buy my products if there are the same products somewhere else which is an existing business which is known. Although, the weaknesses are that you could have lack of expertise meaning you would struggle to get a grip of the business and you would not be able to entice customers if you didn't know what you were talking about within the business. Besides, their is a high competition within the make-up industry along with  the products and services because their is a high demand for them as females want the best products for a lower price than high end brands which is what I am providing allotting i have found a USP in the market.

Market trends are the movement of the financial market over a short, mid or long term period. Being aware of these trends ensure I can plan stuff to be as successful I can be and ensure I stay up to date with the latest trends in the make-up industry. Regular basis movement is know as a cyclical trend and this is when something occurs frequently in a cycle.

Environmental issues are the issues that involve the environment which include stuff like; making sure that equipment used it replaced. For example, the first fighting equipment do not harm the environment therefore there is no issues there, this is the same with cleaning products. The Department for Business Innovation Skills (BIS) publishes and communicates leaflets out to the public with relevant information inside of them which covers legislation on it. These would be essential and useful to keep in my store as it will remind employees of the legislations they have to abide by as well as customers who enter my store.



UNIT 36 M1

Explain methods used to identify the target market for the proposed business

Within this assignment, I will be explaining the different methods I will apply in order to identify the target market for my proposed business.

To find out my target market I will use primary research as well as secondary research, as I feel both will provide me with accurate, detailed and reliable information as they both have their own individual benefits along with their own drawbacks. However, by using both I will be able to eliminate the drawbacks from them both and be able to have access to useful information and data that will be able to help me identify my target market appropriately. I have decided to use 1 primary research method, which is a questionnaire, along with 1 secondary research method which is internet research.

I first thing I am going to do is create a questionnaire and hand it to people as this is an easy and efficient method as well as it being specific to my business needs. The advantages of using a questionnaire is that people are familiar with the format therefore, it is easy to understand and clearly laid out. The information I collect will be modern and up to date as I will be obtaining it myself therefore I know where its come from. It allows a large amount of information to be collected from a large number of people in a short amount of time. The results of the questionnaire can easily be converted into graphs and charts to compare and analyse. None of my competitors will be able to steal this information or copy it as I am doing it myself and it will be specific to my business needs which will ensure exclusivity.

Nevertheless, questionnaires have disadvantages too. They lack validity as anyone could answer the questions with random answers just to complete the questionnaire meaning there is no way of telling how truthful their answers are. Some say it is inadequate due to there being different answer styles such as long answers, multiple choice etc. To produce the questionnaires it could become costly and waste a lot of money into producing the resources and equipment and material as I want it to be accurate which means I will have to start from scratch. Questionnaires are a good research method for my proposed business as I can relate the questions appropriately to my business needs as well as being able to choose who are going to answer my questionnaire.

The second type of research I will be doing is internet research which is useful for me to identify my target market. This is because it allows me to obtain a large sample of information at once which increases the amount of statistics I have. Data is automatically inputted into the internet therefore there is no data entry errors. This is a more diverse sample based research rather than a traditional old based research which is good for my proposed business because all the competitors within the make-up industry will have already done research and this would've been published onto the internet therefore this wont be hard to find and there should be not a lack of information on the internet. Internet research is a cheap way of collecting research as you do not need to provide any materials or equipment as the research has already been obtained.

On the other hand, sometimes you could rush through this research which could mean that you don't read something properly and this may result in collecting inaccurate research which is wrong and invalid to my research which won't be useful. Also, a huge percentage of information from the internet is unreliable and can be really uncertain because people with even no expertise can publish information onto the internet which have no source of reliability, which is why I will be extremely careful when searching through the internet and carefully look for websites and sources who have a valid link.



There are some types of research such as interviews in which I would not use. This is because the cost of interviews can be quite costly, as they require staff of people to conduct the interviews. Now a days interviews in a paper form is old fashioned and none is willing to answer them because they are usually done on iPads or tablets which cost an excessive amount of money. Also, the quality of the data that I will receive will often depend on the ability of the person interviewing as some people have natural ability to conduct an interview however, some people may be shy and not other data well. It is common with most people that they are not naturally good at conducting interviews which is why I will not use interviews to identify my target market for my proposed business. The size of the sample in an interview is limited because, some people may not be willing to answer questions for a long period of time. Additionally, if the interview is produced on paper then the data collected will need to be entered manually or scanned into a computer however, data entry can cost a significant amount of money as iPad or tablets etc may need to be required.


Additionally, a focus group is a good research method however, it is not suitable for me to identify the target market for my proposed business. This is because they can be moderately bias because people may intentionally put their personal opinions into the other participants exchange of ideas. This may make the results inaccurate because the group participants may reach certain assumptions  or conclusions about a certain idea or product. Also focus groups are not in such depth compared to an individual interview because they are not as efficient in covering a lot of detailed information.



To conclude, I feel that my chosen research methods are the most suitable methods because questionnaires are in a format that people are familiar with, which makes people more likely to answer because they know what the are doing and the idea of them. They are easy to understand because they are clearly formatted which allows for various different question styles to gain a wide range of answers which is really useful for me to collect a huge amount of data which questionnaires fit well. Along with questionnaires, internet research is the most appropriate research method for me to use because I will be able to obtain a large amount of information in one go because its all in one place, it is a convenient research method which makes it useful because in the modern day and age no one really reads books or uses the traditional research methods. Both these research methods are the most suited methods for the research I want to find out which is my target audience.

unit 12 p1 p2

UNIT 12 P1

Describe the role internet marketing has within a modern marketing context

Dear whom it may concern,

In this letter I will be addressing the impact the internet has on modern marketing within two businesses and how effective it is in getting the products or services the businesses are advertising across. The two businesses I will be using in this letter is Asda and Mr Baker, because these are two successful businesses. Asda's is a British supermarket retailers with stores all over the UK. The company became a subsidiary of the American store Walmart after an £6.7billion takeover. Furthermore, Mr Baker is a kosher bakery in a few different locations within London. They sell a variety of food containing; falafel, pizza, sushi, sandwiches, coffee etc.

The role of internet marketing is to make profit for the business and to increase the market coverage. By using the internet it introduces and aids the products and services to the internet. It also helps in marketing a product and helps to reshape or alter what businesses can do. Businesses that aim to make a profit intend to market their products through the internet, such as Asda as its a very successful and effective way of increasing a businesses income, awareness and the number of customers they receive. When using internet marketing it is important to consider the marketing mix as this will really help to make the marketing strategies effective. The marketing mix is made out of 4 P's: Product, Price, Promotion and Place and it helps to achieve the businesses marketing objectives and aims.


The first P in the marketing mix is product which takes into consideration what the product/service is, who its aimed at, what does the product/service do and what should it do. The next P is price which looks at what price customers will pay for a specific product/service, what price will attract specific customers, what price will create the best image for the product/service and what will attract the change in price. There are different pricing strategies that can be used to appropriately price a product or service;
Penetration pricing is when a product or service gets set a price to gain market foothold.
Destruction pricing is when a product or service gets a price set to drive other competitors out of the market, usually by pricing is cheaper.
Competitor pricing is when a product or service is priced based on their competition,
Skimming is when a product or service is set at a high price because it is a unique product or service.
Discrimination pricing is when a product or service gets set at different prices depending on the customer they are.


The third P is place which focuses on the location to buy the product or service. It includes looking at distribution and merchandising as this is important when locating a product or service. Businesses that work in between manufacture and retailers are called intermediaries. Lastly, the final P is promotion which is where businesses try to bring products or services to the attention of the customers by doing promotional things such as offers, deals etc.


In the modern marketing world and the modern economy, they sell more services. Therefore, the extended marketing mix was introduced which includes 3 more P's: People, Processes and Physical evidence. The people side of this mix is at the centre of the service delivery. Processes look at the activities and processes that customers take part in during a service. For example, banks have attractive waiting rooms, they would look at how long do customers have to wait and do they have forms in the waiting rooms. The physical evidence is where the service will be delivered and having evidence for the customers to judge for themselves. An example of this is Uber, they allow you to give reviews about your Uber journey which is useful for Uber as they can see how customers feel about the drivers and there journeys and what to improve from it etc.



As the internet is changing and expanding over time, Asda and Easyjet need to ensure that they keep up with the changes in order to be different from their competitors and not fall behind. By doing this it will reach their audience in the most effective way. This can happen in a few different ways:
Market penetration is when a business increases the market share by offering better services.
Market development is when a business enters a new market or increases the market share.
Product development is when new products can be digitally delivered through the web.
Some businesses have online objectives, some examples of them are to increase their profit by 20%, achieve the top 10 in market in a particular country, increase customer response times. When making a web objective they have to be SMART in order to be achievable.



Asda's have their own official website in which allows customers to purchase products or services from, as well as having a tool where you can find your nearest store in order to attract customers. On their website they also offer tips on beauty, healthy living and fashion such as 'How To Streamline Your Wardrobe In 30 Minutes Flat'. In 2013 Asda decided to try and lower their prices in order to outshine the "Big Four" competitors however, they are suffering 'uprecedented distress' within the grocery market that they decided to scrap that idea and just focus on. Asda's motto 'Save Money. Live Better' is really emphasises through their website as they offer deals and promotions on food, home, beauty etc. This draws customers in as especially now a days customers just want to buy the cheapest stuff therefore if Asda's is linked with being cheap then customers will gravitate towards Asda's more.




Asda's use social media to advertise their business, one of the main sites they use is Twitter. This is because it is extremely popular and people can tweet Asda to praise them or tell them any problems they have had. A benefit of using Twitter is that if a customer praises them, they can retweet the tweet and everyone that follows Asda will be able to see that praise on their page however, if it is a negative tweet it will still be on the responders page however it will not show on Twitters official page.



Easyjet also have a Twitter page which allows them to update their customers on the latest deals, delays or anything they feel their customers need to know. This is an effective use of internet marketing as it allows a wider audience to see Easyjet tweets and see the way they interact with their customers. For example Easyjet tweeted a photo of a bear who was found on a flight and they suggested everyone retweeted the photo in order to reunite the bear with its owner. Customers may see this and want to use Easyjet because of their relationship with their customers.



The Asda IPhone app allows customers to quickly purchase products and services through their phone which is an effective and efficient way of shopping. Not all supermarkets have this therefore Asda's stand out from some of their competitors. However, other supermarkets such as M&S and Sainsbury's have connecting apps which are called 'Sainsbury's SmartShop' 'Cook With M&S' or 'Sainsbury's Magazine' which are all apps that offer slightly different things to make them unique and distinctive as the supermarket market is extremely competitive. They also offer an IPad edition which offers a wider variety for people if they do not have an IPhone as more of the older generation may have an IPad or a family IPad to do the shopping on which means Asda's will reach a wider audience as they are offering a wider range of choice in which to purchase their products and services.



Easyjet have an app on Google play which allows customers to do a range of different things. From booking a flight, to managing your existing bookings, to checking in, to having mobile boarding passes, having a flight tracker accessible and having a mobile host. All these features are distinctive fro Easyjet and other airlines like Ryanair have their own maps however, they do not have some of the features that Easyjet do which are more up to date and modern, which makes flying a lot easier.



Asda's use social media to advertise their business, one of the main sites they use is Twitter. This is because it is extremely popular and people can tweet Asda to praise them or tell them any problems they have had. A benefit of using Twitter is that if a customer praises them, they can retweet the tweet and everyone that follows Asda will be able to see that praise on their page however, if it is a negative tweet it will still be on the responders page however it will not show on Twitters official page.




Businesses like Asda and Easyjet work hard to build customer relationships to gain customer repetition. They do this by having products or services that are appropriate for their target audience. By using web technology, you can use images and make the customer interaction creative and stand out. One way Asda and Easyjet could improve their marketing online is by having products or services where customers can customise their product or service and use web pages or specific colours to manipulate the original product. Adidas are one business who use this and have a customising tool in which you can customise specific shoes at bit of an extra cost. By using web technology it will allow Asda and Easyjet to record and assess their customer feedback and then respond appropriately targeting specific groups of customers.

Segmentation is when there are different groups within a market so businesses can target products and services to meet their needs. Consumers have all different preferences, budgets and reasons for buying products and services therefore businesses have to market specifically to target their target audiences. There are various internet-enabled segmentation and targeting systems that are used. Examples of these are; demographics, psychographic, economic, usage based. The demographics show where the population live and how many people are online. Psychographic show the lifestyle and personal characteristics based on research. Economic shows the conditions of countries that determines whether their e-commerce will be successful or not. Lastly, usage based is how the internet is being used in different parts of the world.