,23008713 Hafsa Khatun Unit 19 – Assignment 1
INTRODUCTION.
In this assignment, I will explore three distinct business ideas which cater to
people who like elegance, self-care and personalisation. My concepts will
combine luxury with affordability, meaning they offer high quality products that
enhance everyday experiences. My first idea is luxury sleepwear which will
consist of premium materials which are designed for both comfortability with a
touch of glamour. My second idea is customisable perfume oils which create a
good fragrance experience where customers can create their own signature scent.
And lastly is a exclusive event planning business. Throughout this assignment, I
will be evaluating their feasibility, target market and potential success within its
retail sector.
BUSINESS IDEA 1.
My first micro-business idea is a luxury sleepwear brand, which offers high
quality, elegant and affordable loungewear for women who like both comfort and
style. I want to make the products blend premium fabrics such as silk and satin
with timeless, feminine designs making luxury sleepwear more accessible to
everyday consumers. My target market consists of women ages 18-45 who love
fashion which includes self-care enthusiasts and luxury lovers who love high end
quality but don't love the designer price tag. I will sell my products on the high
street, making sure my brand is available and convenient to purchase. Products
available will consist of things such as silk pyjama sets, nightgowns, robe and
dress sets with sleep accessories to match all in classic, sophisticated colours. My
unique selling point is "Luxury you can sleep in", as my brand will offer
affordable grandeur, allowing women to feel elegant and pampered even when
they sleep. I'd want pricing to range from £40-£120, making it a mid-tier luxury
option. I believe this business would succeed because it aligns with the growing
trend of self-care, and the whole aesthetic of being within your divine feminine.
To promote my brand, I would use social media marketing, influence
, collaborations and in-store promotions which would ensure strong visibility and
appeal to my target audience.
BUSINESS IDEA 2.
My second micro-business idea is a online customisable perfume services which
gives customers the chance to create their own unique fragrances, this gives them
a personal alternative to mass produced perfumes. This idea is from my own
struggles in finding a scent that actually suited me, as a lot of store-bought
perfumes were either too generic or didn't last long enough. After looking into
the fragrance industry, I saw that bespoke perfume services exist but are often
really pricey and exclusive to high end brands. I think I can improve this concept
by offering an affordable platform that makes custom perfumery accessible to a
larger audience. My USP is "crafting your own scent story", which highlights the
ability for customers to mix and match high quality essential oils to create their
own signature fragrance.
The pricing will be set so it’s clear luxury customisation can be affordable. A
tester kit with small samples of different scents would be priced at anywhere
between £10-£20, giving customers the opportunity to experiment before
committing to a full-sized product. A custom 30ml bottle will range from £40-
£80, depending on the blend and packaging choices whilst a 50ml premium
INTRODUCTION.
In this assignment, I will explore three distinct business ideas which cater to
people who like elegance, self-care and personalisation. My concepts will
combine luxury with affordability, meaning they offer high quality products that
enhance everyday experiences. My first idea is luxury sleepwear which will
consist of premium materials which are designed for both comfortability with a
touch of glamour. My second idea is customisable perfume oils which create a
good fragrance experience where customers can create their own signature scent.
And lastly is a exclusive event planning business. Throughout this assignment, I
will be evaluating their feasibility, target market and potential success within its
retail sector.
BUSINESS IDEA 1.
My first micro-business idea is a luxury sleepwear brand, which offers high
quality, elegant and affordable loungewear for women who like both comfort and
style. I want to make the products blend premium fabrics such as silk and satin
with timeless, feminine designs making luxury sleepwear more accessible to
everyday consumers. My target market consists of women ages 18-45 who love
fashion which includes self-care enthusiasts and luxury lovers who love high end
quality but don't love the designer price tag. I will sell my products on the high
street, making sure my brand is available and convenient to purchase. Products
available will consist of things such as silk pyjama sets, nightgowns, robe and
dress sets with sleep accessories to match all in classic, sophisticated colours. My
unique selling point is "Luxury you can sleep in", as my brand will offer
affordable grandeur, allowing women to feel elegant and pampered even when
they sleep. I'd want pricing to range from £40-£120, making it a mid-tier luxury
option. I believe this business would succeed because it aligns with the growing
trend of self-care, and the whole aesthetic of being within your divine feminine.
To promote my brand, I would use social media marketing, influence
, collaborations and in-store promotions which would ensure strong visibility and
appeal to my target audience.
BUSINESS IDEA 2.
My second micro-business idea is a online customisable perfume services which
gives customers the chance to create their own unique fragrances, this gives them
a personal alternative to mass produced perfumes. This idea is from my own
struggles in finding a scent that actually suited me, as a lot of store-bought
perfumes were either too generic or didn't last long enough. After looking into
the fragrance industry, I saw that bespoke perfume services exist but are often
really pricey and exclusive to high end brands. I think I can improve this concept
by offering an affordable platform that makes custom perfumery accessible to a
larger audience. My USP is "crafting your own scent story", which highlights the
ability for customers to mix and match high quality essential oils to create their
own signature fragrance.
The pricing will be set so it’s clear luxury customisation can be affordable. A
tester kit with small samples of different scents would be priced at anywhere
between £10-£20, giving customers the opportunity to experiment before
committing to a full-sized product. A custom 30ml bottle will range from £40-
£80, depending on the blend and packaging choices whilst a 50ml premium
