Sustainable Enterprise

Lecture 2 Task

Thu, 27 Feb 2025 12:38:55 GMT

by Polly Davies.

Product/Service - Floatation Therapy Centre in Carmarthen

1. Target Market:

⁃ Residents of Carmarthenshire, Pembrokeshire, Cardiganshire

⁃ Individuals seeking mindfulness and improved wellbeing

⁃ Athletes seeking recovery support

⁃ Individuals requiring injury support/support with ongoing conditions

⁃ Professionals looking for respite from workplace stress

⁃ Creatives seeking to nurture creative thinking

2. Identifying Customer Needs:

⁃ Local residents keen to embrace more alternative therapy availability

⁃ Local alternative to travelling to Swansea for floatation therapy

⁃ Well-being therapy that requires no human contact/touch by therapist

3. Identifying a Gap in the Market:

⁃ Closest floatation centre to Carmarthen is Lazy Frog in Swansea, so Carmarthen town centre would be a viable option to serve West Wales

4. Opportunities for a Product/Service:

⁃ Several vacant premises in Carmarthen that’d be ideal

⁃ Local individuals and organisations keen to invest in wellbeing

⁃ Local sports physiotherapist and injury clinic may be open to collaborating to provide a combined service

⁃ UWTSD campus in Carmarthen provides potential service users

5. Current Market Trends:

⁃ Consumers across the board are increasingly becoming more proactive about physical health, mental health, wellbeing and self care

6. Potential Demand:

⁃ Since Covid, many individuals are keen to redirect disposable income towards wellness

⁃ Current consumers of existing alternative therapies provided in Carmarthen may be keen to explore floatation therapy

⁃ Floatation therapy would potentially appeal as a recommendation to make to clients for local professionals such as mental health counsellors, chiropractors, physiotherapists

7. Economic Climate:

⁃ Interest to invest in public wellbeing in Carmarthen appears to have a strong presence

⁃ Existing businesses in Carmarthen offering services linked with wellbeing appear to be thriving

8. Identifying Business Risks, including a Competitor Analysis:

⁃ Lazy Frog floatation centre in Swansea is well established and popular, so strong marketing would be essential to promote the presence of a new, more local option for West Wales residents

⁃ Since floatation would be a new service to Carmarthen, a strong and informative business plan, incorporating evidence of all it’s benefits, will be essential to secure confident investment

Task

Tue, 25 Feb 2025 19:39:32 GMT

by Aurelia Lucretia Malutan.

Smart Meal Prep Subscription Box

1. Target Market: Busy professionals, fitness enthusiasts, and parents.

2. Identifying Customer Needs: Saves time, provides healthy meal options, and reduces food waste.

3. Identifying a Gap in the Market: Many meal kits lack AI-driven personalization for dietary needs.

4. Opportunities for a Product/Service: AI-based meal suggestions, smart packaging to track freshness.

5. Current Market Trends: Growth in health-conscious and convenience-driven eating habits.

6. Potential Demand: Strong in urban areas where people have limited time for cooking.

7. Economic Climate: Higher costs might deter budget-conscious consumers, but demand remains steady.

8. Identifying Business Risks & Competitor Analysis: Competition from HelloFresh and Blue Apron; differentiation through personalized AI recommendations and eco-friendly packaging.

Task

Sat, 22 Feb 2025 19:31:08 GMT

by Cristina Tecu.

Wireless Charging Desk Lamp

1. Target Market: Students, remote workers, and professionals.

2. Identifying Customer Needs: Combines lighting with wireless charging to reduce desk clutter.

3. Identifying a Gap in the Market: Many desk lamps lack fast charging and smart features.

4. Opportunities for a Product/Service: Integration with voice assistants and adjustable color temperatures.

5. Current Market Trends: Demand for multi-functional home office gadgets is increasing.

6. Potential Demand: High due to remote work and digital device reliance.

7. Economic Climate: Consumers seek value-for-money smart home accessories.

8. Identifying Business Risks & Competitor Analysis: Competitors like Philips and Xiaomi offer similar products, so differentiation with premium design and extra features is key.