MR ASS#1 CREST

.docx

School

Centennial College *

*We aren’t endorsed by this school

Course

MGMT 703

Subject

Marketing

Date

Apr 3, 2024

Type

docx

Pages

12

Uploaded by CoachMusicVulture40

Report
1 MKT0019 Marketing Research Title: Activity #1 Library Databases & Environmental Scan (CREST) To, Prof. Vijey Charde Student name: Yash Chaudhari (41127700) Harshdeep Singh(41131168)
2 Canadian Start-up Idea What is the name of the business or idea: The name of business is EcoCraft Canada. A socially conscious consumer goods firm, "EcoCraft Canada" specializes in eco-friendly and sustainable home and lifestyle items. What type of business is it: EcoCraft Canada is a sustainable consumer goods firm that focuses on making home and leisure products that are ethically and ecologically sourced. They provide a variety of products, such as biodegradable packaging options, reusable home goods, and environmentally friendly substitutes for commonplace necessities. Landscaping: EcoCraft Canada is a leader in environmentally conscious landscaping, emphasizing biodiversity and environmental conservation. They provide services including rainwater collection systems, native plant landscaping, sustainable hardscaping alternatives, and eco-friendly landscape design. Their strategy makes use of organic resources, conserves water, and, where feasible, integrates renewable energy sources. The mission of EcoCraft Canada is to design outdoor environments that support local biodiversity and ecosystems while also enhancing the aesthetic appeal of the surrounding area. Apparel: EcoCraft Canada is a sustainable clothing and accessory company that uses sustainable materials including organic cotton, hemp, bamboo, and recycled fibers to create a wide selection of eco-friendly clothes and accessories. Their product range consists of fashionable and useful apparel
3 products including hemp trousers, bamboo sportswear, recycled polyester coats, organic cotton t-shirts, and accessories like hats and bags made of sustainable materials. EcoCraft Canada places a high priority on fair labor methods, ethical manufacturing procedures, and transparent supply chains to guarantee that their goods have as little of an environmental effect as possible during their whole lifespan. Software as a service (SaaS): EcoCraft Canada is a SaaS company that provides creative software solutions that support environmental stewardship and sustainability. Applications for trash reduction and recycling, carbon footprint tracking, energy monitoring and conservation, eco-friendly home management, and sustainable supply chain management are a few examples of their software offerings. EcoCraft Canada uses technology to enable people, companies, and organizations to take meaningful action and make well-informed decisions that will lead to a more sustainable future. Eco-Tourism: In the ecotourism industry, EcoCraft Canada also provides eco- friendly vacation experiences emphasizing conservation, environmental education, and ethical tourism methods. Guided nature walks, animal conservation trips, eco-friendly lodging, and community-based tourism projects are a few of the eco-tourism programs they provide. In order to support biodiversity conservation, cultural preservation, and sustainable development in environmentally vulnerable places, EcoCraft Canada collaborates with regional conservation groups and indigenous communities. Eco Library database: Using Library databases located One search: A) What is the name of the report? Report Name: "Craft Supplies Market Trends and Insights in Canada" B) What did you learn from reading this report?
4 Pre-Pandemic Growth: Before the COVID-19 epidemic, DIY projects and crafting as a recreational activity were experiencing a noteworthy upsurge in popularity across Canada. Numerous causes, including the growing popularity of making as a therapeutic hobby, the emergence of online crafting groups, and the need for customized and distinctive products, all contributed to this boom. Shift Toward Sustainability: The growing need for items that are ecologically friendly is one notable trend seen in the Canadian craft supply industry. Growing consumer awareness of how their choices affect the environment is causing a change in crafting supplies toward sustainable and eco-friendly options. This includes items that reduce waste and pollution throughout their lives and materials derived from renewable or recycled sources. Market Size: According to the research, the craft supplies industry in Canada is expected to have a significant value of $100 billion by 2021. This suggests that the craft sector makes a substantial financial contribution to the Canadian economy. Furthermore, the study indicates that the industry is expected to rise in the future because to elements including consumers' ongoing interest in crafting, product innovation, and growing distribution networks. COVID-19 Impact: The Canadian market for craft supplies was significantly impacted by the COVID-19 outbreak. Lockdowns and other social distancing tactics caused many people to turn to do-it-yourself and craft projects as a method to pass the time, decompress, and maintain relationships with loved ones. The heightened demand for craft materials led to higher sales for businesses in the sector as customers looked for supplies for a variety of creative projects, from personalized presents to home décor. The research presents an overall picture of Canada's craft materials business, which is dynamic and constantly changing due to pre-existing
5 growth patterns, an increasing focus on sustainability, a sizeable market, and the COVID-19 pandemic's disruptive influence. Businesses in the craft supply industry, as well as stakeholders and legislators who are curious in the workings of this sector, might benefit from these insights. Using one search find Canadian Trade Publication : A) Name of Trade Publication: "Green Living Magazine" B) Article name: "The Rise of Eco-Friendly Crafting: A Sustainable Revolution in DIY" C) What did you learn from this report? Growing Trend: The article highlights how Canadians are becoming more interested in incorporating eco-friendly methods into many facets of their life, including handicraft. This reflects a larger movement in favor of sustainability and environmental consciousness, as people try to reduce the impact of their consumption choices and way of life on the environment. Given that many Canadians like making as a hobby, the growing demand for environmentally friendly crafting tools reflects a major movement in Canadian culture towards more conscientious and sustainable consumer habits. Consumer Preferences: The article lists certain eco-friendly crafting material preferences among people who care about the environment. Products with a strong reputation for sustainability, such as non-toxic paints, recycled paper, and organic fabrics, are in great demand. This reflects consumers' increasing awareness of the negative environmental effects of traditional creating materials and their desire to match their making habits with their commitment to environmental responsibility and sustainability. Making these environmentally friendly options a first priority allows customers to actively help reduce the waste and pollution that come with the crafting business. Market Opportunity:
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