PPD

Working on the business plan was a great experience. This unit has been one of the most difficult, yet enjoyable units to study. When the unit was introduced, I decided I would stay with the brand that I have worked with for branding since I have done extensive research on the brand already. The Cavalli brand doesn’t have hotels or a cosmetics line so those were the two ideas I brainstormed in the beginning of the project. Initially I really wanted to pursue the hotel idea however the financial report inhibited me from choosing the hotel. Therefore, a cosmetic line was a realistic topic considering the financial report and the necessary comparisons between existing companies and products.

I started the report by researching about the cosmetics industry and I completed the competitor's analysis first as this helped me in making decisions about products and pricing.

As for challenges, I didn't face any problems in finding research, but organizing the report, maintaining the word limits, and determining what was most relevant was the hardest part. Also, in the beginning, the business plan looked more like a marketing plan since I am used to preparing marketing plans. Therefore, deciding what information should go into the business plan and which marketing tools like SWOT, Pestle, and Spicc applied was the most challenging part. As for strengths, I believe my product range and campaign is the strongest part of my project and the area into which I put most of my effort. I have managed to show the range of the Cavalli brand and Cavalli cosmetics line with a few animations and a strong spokesperson and model whose personality coincides with the brand's image. In the film, I decided textures of prints and designs were most important throughout the advertisement. However, I was worried the audience wouldn't understand the idea of the cosmetics line and would only gain a sense of Cavalli's brand image. As a result, I decided to keep the products in the video to ensure the message regarding the cosmetics line is clear. I analyzed the campaign through Sostac which seemed like the best tool to use to analyze the event overall. I also covered the promotional strategies that suit Cavalli the most and the ones he has used previously. I regret, however, not looking at other mediums for promotion to make the campaign stronger, but it seemed risky.

If I had more time I would have added a profit and loss and balance sheet but I was still able to make assumptions on my sales forecast which I created according to seasons and analyzed according to the product life cycle. Overall, I think I have completed my business plan by including what I felt was most relevant to the brand and making decisions to show my business is worth considering in the future.

I honestly think there should be Cavalli cosmetics as it's a very desirable brand that has established loyal customers who are willing to spend on Cavalli products. Entering the beauty industry in 2015 will help the brand attract customers since there is a great demand in the cosmetic industry especially for premium cosmetics. Through a cosmetics line, the Cavalli brand will not only attract loyal customers, but new customers who are interested in the cosmetics industry.