Module 3 Assignment 1: Part A – Business Concept Project

Overview
You will develop the Product/Service and Competitive Advantage sections of your new business concept (product or service) in this first phase.

Outcomes
A. Identify the four components of the marketing mix and their application to target market segments. (Outcome M401)
B. Discuss pricing strategies for different competitive situations and identify pricing tactics. (Outcome M403)
C. Identify a potential career path in business and the skills and competencies needed to succeed. (Outcome M504)

3. Assignment 3 Part A Business Concept Project

The Brilliant Company is based in Texas and provides essential oils to its customers. It focuses on providing natural and chemical-free skincare products for its customers. It is a small enterprise that is expected to grow in the future due to its product’s uniqueness. The benefits of the products is that they also have anti-aging properties and are stuffed with antioxidants to nourish the skin. As per Jonathan (n.d) the scent of essential oils can also improve immunity, helping to keep healthy people. Furthermore, products without chemicals are gentle, reliable and extremely efficient. The primary market for essential oils is mostly females aged between 25 to 45.

The products of The Brilliant Company are innovative and stand out from competition. The bottles are of high-quality and long-lasting. This ensures that a business provides its customers with high-quality items. In addition, the company is able to meet the demand. The company has enough quantity of caps and bottles so that the product are produced and delivered in a timely manner. The main ingredient in it is 24 natural gold leaf, which gives the skin a radiant appearance and healthy because of it being infused with gold. This means that the skin is given firmness and less prone to loss of collagen, while staying well-hydrated. In addition they are moderately priced and the marketing is carried out on the internet.