Entrepreneur of a small scale business

Assume yourself as an entrepreneur of a small-scale business in Saudi Arabia

 

 

 

 

 

 

 

 

 

Entrepreneurship

Student’s Name

Institution

 

 

 

 

 

 

 

 

 

 

 

I will be the owner of my business. Though I might get a few people to help me manage the business, I will be the sole proprietor. I prefer sole- proprietorship because I will have maximum control over the company (Chowdhury,2016). My business will be named Amina fashion and will be located in Riyadh city, along King Fahd Road, opposite Kingdom Centre. My business email will be aminafash001@gmail.com.I will sell clothes online. Fashion e-commerce has been doing excellent in the country for the last few years. A good mission and vision statement draw customers into buying goods (Graham, & Havlick,2016). My mission is to bring elegant and affordable fashion to Saudi-Arabian citizens. My company goals and objectives include making the latest fashion more accessible to the people at fair prices.

The most important thing to me in my business is my website. Without it, I cannot get customers. Any business without customers is a dead business. It helps me get new customers and retain old ones. I will market my fashion products to everyone. However, my primary target group is women and ladies whose movement is restricted but have shopping wishes. Clothes and other items such as beauty products will be delivered at their doorsteps upon payment. People are conversant with smartphones and computers (Abir, 2020). Again, Riyadh has a great population (Tabassum, & Shaiba, 2018). Thus, the market is promised.

The fashion industry has been going on from the earliest time. However, e-commerce in fashion is a current trend that has been doing good in Saudi Arabia (Habboush, & Alanazi,2020). Fashion keeps on changing. Online marketing is one of the changes that have occurred in the world of fashion. Since not many wholesalers are using official online platforms, the business will leverage this situation and build itself before the others join. Starting early will give me a competitive advantage.

The most important strength in my business is less competition in an environment of high demand. I am good at giving clients exactly what they need. The company will succeed because of the great teamwork between the workers and the management (Adam, 2016). My competitive strength will be that I can use data analytics and the internet of things. These applications will help me gather information about my customers and send the ads showing the fashion items I am selling. I am committed, determined, and hardworking. My effort as an entrepreneur will have a significant impact on the business. Therefore, I will use these attributes for the success of my business

 

 

 

 

 

 

 

 

 

 

 

 

References

 

Abir, M. (2020). Modern education and the rise of new elites in Saudi Arabia *. Saudi Arabia in the Oil Era, 34-59. doi:10.4324/9781003074595-4

Adam, A. K. (2016). Identifying factors of market success. Strategy and Success Factors of Business Schools, 123-177. doi:10.1007/978-3-658-14519-4_10

Chowdhury, A. A. (2016). Proprietorship firms: Advantages and survival. SSRN Electronic Journal. doi:10.2139/ssrn.2220979

Graham, J. W., & Havlick, W. C. (2016). Mission statements. doi:10.4324/9780203306505

Habboush, T. A., & Alanazi, B. F. (2020). The impact of electronic commerce on motivating the investment in the Kingdom of Saudi Arabia. JOURNAL OF INTERNATIONAL BUSINESS RESEARCH AND MARKETING5(5), 13-27. doi:10.18775/jibrm.1849-8558.2015.55.3002

Tabassum, K., & Shaiba, H. (2018). An effective perspective towards Riyadh smart city. Proceedings of the 3rd International Conference on Smart City Applications – SCA ’18. doi:10.1145/3286606.3286800

Assignment 2

Course Learning Outcomes:

 

  1. Utilize strong analytical skills and tools to formulate an effective Bootstrap Marketing Plan on which a small business can build a competitive edge in the market place. (Lo 1.8, 4.3 & 4.5).
  2. Deliver and communicate marketing massages in coherent and professional manner. (Lo 4.4).

 

Start-up Business Plan

 

Assume yourself as an entrepreneur of a small-scale business in Saudi Arabia.

(In Continuation to the Assignment -1)

 

  1. Products and Services
  2. Describe in depth your products or services. (Technical specifications)
  3. What factors will give you competitive advantages or disadvantages? Examples include level of quality or unique or proprietary features.

 

  1. Marketing Plan
  2. Market Research- Why?
  3. Market Research- How? Primary or Secondary Data?
  4. In your marketing plan, be as specific as possible; give statistics, numbers, and sources. The marketing plan will be the basis, later on, of the all‐important sales projection.

Product

  • Describe the most important features. What is special about it?
  • Describe the benefits. That is, what will the product do for the customer?

Customer

  • Identify your targeted customers, their demographics

Competition

  • What products and companies will compete with you?
  • How will your products or services compare with the competition?

Strategy

  • Outline a marketing Strategy.

Promotion

  • How will you promote your Product?
  • What will be your promotional budget?

Distribution Channels

How do you sell your products or services?

 

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