business report

• This business report is written to the owners of Serenity Skincare (SS), in regards to their issues surrounding the increase of competition in their market, and their struggle to attract new customers
• This business report is aimed to provide recommended solutions to SS's struggles, outlining the importance of market research with recommendations to elevate their current methods, and describe ss's recent behaviour in engaging deceptive and misleading advertising, providing alternative solutions
• Market research


  The systematic collecting, recording, and the analysis of information surrounding a business's target market, directed to a specific marketing problem
• Methods of market research


  • Survey method
  • Observation method
• Survey method


  The business gathers data through interviewing and asking their customers on their wants and needs
• Observation method


  The business records the behavior of customers, without direct contact
• SS conducts market research through the survey method, using their website to ask their consumers on areas of improvement, in response to the recent growth in competition, and the resulting struggle of attracting new consumers
• By applying this data into product development, the business can produce products which appeal to their current and potential consumers, providing SS with a competitive advantage and distinction in their newly populated market, and assure stable profit and growth both short and long term
• Deceptive and misleading advertising

  Businesses marketing their products falsely and misleading
• Forms of deceptive and misleading advertising

  • Bait and switching advertising
  • Lying about the conduction of product testing
  • Fine print
  • Dishonest advertising
• By adopting misleading and deceptive advertising, businesses would damage themselves through the negative impact of their brand and the breaking consumer trust, dissolving any consumer loyalty
• Deceptive and misleading advertising is illegal, and falls under unfair trading practices
• SS undertook deceptive or misleading advertising, through dishonest advertising. When marketing their products, SS employ dishonest tests and surveys, claiming their new range of skincare products is "100% natural", without any proper certification and the inclusion of synthetic ingredients in their products
• SS's hired influencers using filters to enhance the appearance of their skin, distorting their before and after advertising, misleading their consumers on the quality of their product
• Although in the short term could result in sales instability, it will ensure consumer loyalty and maintain the business image, which in the long term, are essential in maintaining good stability and growth in profits and business's market share
• Things to study


  • Market segmentation
  • Product - goods and/or services
  • Price including
  • Promotion
  • Communication process
  • Place/distribution
  • E-marketing