Ruby & Millie Essay Example | Topics and Well Written Essays - 1000 words

reddened & Millie - Essay ExampleAlthough neither of the entrepreneurs has any managerial background, they are extensively existd in their respective fields. Firstly, blood-red has immense practice as a make-up artist having worked with celebrated supermodels, for instance, Naomi Campbell, Kate Moss and Cindy Crawford. On the other hand, Millie Kendall has a lot of experience as a high-potential beauty specialist. Both entrepreneurs gifted in the performance of their duties within their distinct professionals. Part of the skills that enable the two professionals to become formidable entrepreneurs is creativity and effective determination making based on good ideas (Begoun 2003, p. 16). The professionals are high achievers who think of good ideas and establish viable goals to achieve their objectives. Through their confidence, the entrepreneurs have the capacity to paying back challenges, which come their way. Creativity and enthusiasm are perhaps the some pertinent skills held by both professionals. Millie and red-faced have substantial enthusiasm and creative energy, which supplements their experience within the beauty industry. Having worked in the industry for a while, both entrepreneurs are experienceable of markets involve and the gap that necessitates the development of appropriate products. contender in the Cosmetics Industry The cosmetics industry in Britain is quite competitive consisting of nearly 250 manufacturers and 695 retailers who either manufacture or sell cosmetic products at retail stores. However, most premium cosmetics in the UK are selectively distributed and are confined to a few renowned retailers and manufacturers. Ruby & Millies strongest competitors include Selective Beauty SAS, which manufactures and distributes cosmetics through and through a global network. Selective Beauty SAS entered an exclusive 10-year licensing agreement with Jimmy Choo, the famous accessories and shoes brand (Hillgren & Cheatham 2000, p. 139). Othe r key competitors include high roadway stores such as Super drugs and Body shop, which sell cosmetics on a large scale. Departmental stores such as Harrods, Debenhams and Nichols, are also some of Ruby & Millies primary competitors. Other competitors include supermarkets such as ASDA and Waitrose and specialist websites such as Mac.com, which specialize in direct selling (Roese 2005, p. 154). In baffle to differentiate their products and brand, Ruby & Millie embarked on a personality-driven make-up strategy (Daniels 1999, p. 78). Ruby & Millies brands uniqueness stems from the entrepreneurs gifted personal profiles. The association of Ruby & Millie with Boots continues to impact the brands positioning within the competitive cosmetics market. Cooperation with Boots When small businesses cooperate with greater manufacturers, the former benefit from both the large organizations exposure and market experience (Hammer & Kendall, p. 108). Ruby & Millies cooperation with Boots, which is a massive and globally renowned company, allows the former to benefit from Boots immense knowledge of the cosmetics market. Since Boots is a massive company, it enjoys economies of trade such as effective and easy research and development, particularly with regard to product positioning and assessment of market needs (Schippmann 1999, p. 97). Consequently, Ruby & Millies small business gains pertinent information regarding the cosmetics market enabling the organization position its products and