New Business Idea For Apaisant Perfume - Ownership, Market Validation, And Marketing Mix Essay. (70 Characters)

Represent a new business idea of Perfume with the name Apaisant.
 

Introduction to Entrepreneurship and Apaisant Perfume Idea

Entrepreneurship is the concept of developing and handling a business undertaking to get profit by taking numerous risks in the business world. It is also known as the willingness to initiate a new business (Aulet, 2013). This report will represent a new business idea of Perfume with the name Apaisant. The ownership validation of the perfume and its development will be demonstrated. Besides this, a brief discussion will be included regarding the market validation and assessment of cost, environmental factors, risk, and opportunity.

The idea is based on offering a mesmerizing and soothing smell perfume, which remains for a longer time duration, makes the applier stand out from the crowd, and attract the attention of people. The perfume is named Apaisant, which means soothing and it is going to be launched in the Australian market. The head office of the product will be in Brisbane. This idea is following the intrapreneurial concept as Mr. Avis is the responsible person who has provided this innovative idea and presently he is working in the marketing team of the company. Intrapreneurship means performing like an entrepreneur in a big organization. Intrapreneurs are generally committed, active, and action-oriented people who are contented with taking the advantage, even in the limitations of an organization, in search of a new service or product.  

Apaisant Perfume is the mixture of essential oils of fragrance or combination of perfume, thinners, and fixative used to deliver the animals, human body, food, objects, and living spaces, a pleasant scent. The Apaisant Perfume's company is offering various options of flavors to its consumers. This perfume will provide the diverse range for youth, women, and men.

Apaisant Perfume will provide a different range of fragrances to its consumers so that it can be used as per their mood and occasion. The variety that will be offered includes Floral, Spicy, Oriental, Citrus, Green, Fruity, Oceanic, and Woody. The product is concentrated towards offering quality to the consumers such that they can remain loyal towards the company. Besides this, all the products that will be provided are gentle to the skin and protect it from external effects. 

For the ownership validation, the business will take the copyright for the Apaisant Perfume. Besides this, following are the requirements for the ownership validation that are fulfilled by the business:

• Certificate for Domain Validation
• Organization validated and code signing certificates
• Extended Validation Certificate (Melbourne IT, 2015)

Market Validation is the procedure of identifying before spending time and money on the business whether the marketplace has some area for the new idea. If there is, any space then only the business should spend its time and efforts on it (Mishra, 2018).

Ownership Validation

The idea of Apaisant Perfume arises due to the increasing complaints and problems of the consumers regarding the unpleasant smell from the body. There are various perfumes available in the market, which offer a different type of fragrances, however, does not offer long-lasting fragrance to the consumers, which generate the feeling of irritation. Besides this, those perfumes are not gentle to the human body and harm the body. Therefore, the maker of Apaisant Perfume decided to create a perfume, which can provide soothing fragrance and stay longer.

The marketing team of the Apaisant Perfume distributed some samples of the perfume among the public and asked them to provide their review of the product. The sample was provided to 100 people, in the Australian market of Brisbane, which comprised both men and women. From the review of the people, it was identified that 70% of the people provided positive feedback about the perfume and agreed to purchase the same product repeatedly.   

SWOT Analysis of Apaisant Perfume

Strength

The products like cosmetics, lotion, perfume, deodorants, and toiletries are produced by the manufacturing industry of toiletries and perfume. This industry is small as it covers less than 5% of Australia’s Chemical product manufacturing companies (IBIS World, 2018). However, the sales of perfume and cosmetic have shown a significant growth from the last five years.   

Weaknesses

Apaisant Perfume is only offering its products in the Australian local market, which works as its weakness because the other players in the market offer their products worldwide. Besides this, the company only took the sample of Brisbane in the research process, which does not reflect the opinion, as well as the preference of the whole population.

Opportunity

The Australian industry of Cosmetics and perfume is growing day by day, which reflects that there are various opportunities for the businesses in this market. Apaisant Perfume can expand its business operations and offer its products outside the boundary of Australia through online medium.

Threat

The Australian market is very competitive there are different key players in the industry such as Bondi perfume, Atman, Australis, David Jones, etc. (Base Notes, 2018).These companies will give strong competition to Apaisant Perfume.    

Marketing Mix

Marketing Mix is the set of tactics or actions that are used by the business to promote its products in the market. It is comprised of 4Ps i.e. price, product, promotion, and place. The drive of marketing is to make the potential consumer aware of the offering (Richter, 2012).

Market Validation

Product

Product means a service or item created to satisfy the wants and needs of the customers. It can be intangible or tangible as it can be in the form of a service or product (Codita, 2011).

The manufacturing unit of Apaisant Perfume will be in Brisbane, Australia, where the company is planning to provide its offering to the local people. The perfume is comprised of a variety of fragrances that will make the customer happy. The target market for perfume is men, youth, and women. 

Place

The business has to place its offering effectively at right place such that the potential consumer can reach easily and purchase the product.

The Apaisant Perfume will establish its product in the market of Australia by opening stores at different locations. The business can make use of a direct channel of distribution.

Price

The price of the product is the amount or value that a consumer is willing to pay in exchange for the product (Pearson, 2013).

The price of Apaisant Perfume that has been decided is $ 100 to $400. It is the affordable price for the Australian customers and inexpensive as compared to other competitors in the marketplace. 

Promotion

Another essential element of the marketing mix is the promotion because it supports in increasing product's sales and brand recognition (The Economic Times, 2018).

Apaisant Perfume Company can promote its offering through posters, hoardings, television advertisements, and Pamphlets.    

The idea of Apaisant Perfume is very effective, as it will help business in attaining a good position in the market of Australia. However, the idea lacks in online presence, which is important for every business in this world to be successful. The Australian Perfume and Cosmetic industry are growing with time due to the growing trend in Australia of online shopping. Consumers are getting clever and comfortable with online shopping majorly because of the easy operation of online shopping platform (IBIS World, 2018). Hence, Apaisant Perfume should create its online website or can make contacts with the different online website for offering its products worldwide. This will help the company in increasing its market potential.    

Conclusion

Entrepreneurship and intrapreneurship both are essential for the development of the world as it offers different innovative ideas which result in making the human life easy. The above analysis of Apaisant Perfume is an effective idea, which will help in enhancing the mood of the applier. This idea is created to solve the problem of body odour of many people and provide a soothing smell that takes the attention of people. The price of this perfume is reasonable as compared to other perfume brands in the Australian market. However, this business idea does not have any online presence that makes it weak in front of other players in the market because they are the major threat for the Apaisant Perfume in the market 

References

Aulet, B. (2013) Disciplined Entrepreneurship: 24 Steps to a Successful Startup 1^st ed. U.S: John Wiley & Sons.

Base Notes (2018) Perfume Brands from Australia [online]. Available from https://www.basenotes.net/brand/country/AU [accessed 14 August 2018]

Codita, R. (2011) Contingency Factors of Marketing-Mix Standardization: German Consumer Goods Companies in Central and Eastern Europe 2^nd ed. Germany: Springer Science & Business Media.

IBIS World (2018) Cosmetics, Perfume and Toiletries Manufacturing - Australia Market Research Report [online]. Available from https://www.ibisworld.com.au/industry-trends/market-research-reports/manufacturing/basic-chemical-product/cosmetics-perfume-toiletries-manufacturing.html [accessed 14 August 2018]

IBIS World (2018) Online Perfume and Cosmetic Sales - Australia Market Research Report [online]. Available from https://www.ibisworld.com.au/industry-trends/specialised-market-research-reports/online-retail/online-perfume-cosmetic-sales.html [accessed 14 August 2018]

Melbourne IT (2015) Validation techniques for SSL Certs [online]. Available from https://support.melbourneit.com.au/articles/help/Validation-techniques-for-SSL-Certs [accessed 14 August 2018]

Mishra, T. (2018) Why market validation is important and how you should go about it [online]. Available from https://yourstory.com/2018/02/why-and-how-of-market-validation/ [accessed 14 August 2018]

Pearson, D. (2013) The 20 Ps of Marketing: A Complete Guide to Marketing Strategy 1^st ed. U.K: Kogan Page Publishers.

Richter, T. (2012) International Marketing Mix Management: Theoretical Framework, Contingency Factors and Empirical Findings from World-Markets 3^rd ed. Germany: Logos Verlag Berlin GmbH.

The Economic Times (2018) Definition of 'Marketing Mix' [online]. Available from https://economictimes.indiatimes.com/definition/marketing-mix [accessed 14 August 2018]