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

deep red & Millie - Essay ExampleAlthough neither of the entrepreneurs has any managerial background, they be extensively go through in their respective fields. Firstly, Ruby has immense practice as a make-up artist having worked with celebrate supermodels, for instance, Naomi Campbell, Kate Moss and Cindy Crawford. On the other hand, Millie Kendall has a lot of experience as a high-powered beauty specialist. both(prenominal)(prenominal) entrepreneurs gifted in the performance of their duties within their distinct professionals. Part of the skills that enable the two professionals to become tremendous entrepreneurs is creativity and effective decision making based on good ideas (Begoun 2003, p. 16). The professionals are high achievers who gestate of good ideas and establish viable goals to achieve their objectives. Through their confidence, the entrepreneurs have the capacity to counter challenges, which come their way. creativity and enthusiasm are perhaps the most pertinen t skills held by both professionals. Millie and Ruby have literal enthusiasm and creative energy, which supplements their experience within the beauty industry. Having worked in the industry for a while, both entrepreneurs are knowledgeable of foodstuffs needs and the gap that necessitates the development of appropriate products. Competition in the Cosmetics assiduity The ornamentals 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 a global network. Selective Beauty SAS entered an exclusive 10-year licensing agreement with Jimmy Choo, the famous accessories and shoes station (Hillgren & Cheatham 2000, p. 139). Oth er observe competitors include high street 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 elemental competitors. Other competitors include supermarkets such as ASDA and Waitrose and specialist websites such as Mac.com, which specialize in pass selling (Roese 2005, p. 154). In order 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 military position 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 ample and globally renowned company, allows the former to benefit from Boots immense knowledge of the cosmetics market. Since Boots is a great 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