(Part One) 1. A Stated Opportunity Gap for the New Venture Ayurveda (‘Life Science’) is a traditional form of medical treatment which is 5000 years old and based on natural ingredients. It is very popular in India and exists alongside conventional medicine. According to Euromonitor (2005), the demand for high quality products based on pure ingredients free from chemicals and preservatives is growing. The opportunity is to provide Ayurveda Products such as Health Supplements and Skin Cosmetics via the Direct Selling Model to end consumers. The unique sales proposition is that the products only use pure ingredients which are free from: • Chemicals • Artificial Preservatives • Genetically modified ingredients • Animal testing All product …show more content…
It has no direct competition in the UK from other companies selling Ayurveda cosmetic healthcare products using the Direct Selling concept (similar to Amway or Avon) hence the ‘Window of Opportunity’ (Barringer & Ireland, 2012) is open. 2. Evidence of Feasibility Research There is a ‘Gap in the Market’ (Barringer & Ireland, 2012) for herbal cosmetic products based on Ayurveda ingredients. However, additional research studies are required to refine the products and gather further market data. The business has priced these into its Financial Projections. The Products are targeting men and women, such as: • Anti-wrinkle Serums • Bath Products • Body Care Products (moisturising creams and cleansing liquids, balms, toners) • Deodorants • Eye Serums • Facial Masks • Hair Products • Herbal health supplements for different life styles • Packages combining products for different skin requirements • Skin firming lotions Market According to intelligence data from CPTA (2013), the UK cosmetics market is worth an estimated £8.5bn with skin care reaching nearly £2bn alone. Expanding market trends are anti-aging / anti-wrinkle products and an increasing market for men’s products both because of the growing youth culture within an aging population. Skin care is the current product with the largest growth factor overall in the UK Cosmetics Market according to Transparency Market Research (2013). Company The business will be registered as a limited company based in England
This report is to provide a marketing plan and analysis of entering in uk market for lush cosmetic’s products over the next three years.
It is now believed that nature has given the cure of every disease through herbal medicine or management. Plants have been known to relieve various diseases in Ayurveda. Consequently, the researchers today are emphasizing on evaluation and characterization of various plants and plant constituents against a number of diseases based on their traditional claims of the plants given in Ayurveda. Extraction of the bioactive plant constituents has always been a challenging task for the researchers
During the post 30s the intensity of the free radical formation and rapid damage of the epidermal layers lead to the formation of fine lines and followed by wrinkles. The Facelift in a Jar cosmetic product is largely being used by people seeking to escape the expensive cosmetic treatments for these problems. The extreme publicity and awareness information released about the essential ingredients in Facelift in a Jar has been successful in gaining the buyers’ confidence.
Aesop is a 1987 established cosmetics selling company with an idea to make a high range of magnificent products which support the function and structure of body, skin and hairs. Each and Every Aesop Product is created after keeping in mind certain factors such as considering distinct needs of the mass as well as seasonal and climatic conditions. They are
Providing Over-The-Counter medicine Allstar targets people who have common health problems. The best way to segment Allstar’s customers would be by the following two major categories: illness (cold, cough, allergy) and demographics (young singles, young families, mature families, empty nesters, retired). Allstar Brands invests in marketing research to learn about the ever changing preferences and trends of the market. The information the Company gathers from this research is then used to make according decisions to satisfy each particular category of customer.
Aesop is one of the Australia’s success stories in the competitive world of retailing. Dennis Paphitis established this first luxury beauty and skincare brand in 1987 in Melbourne, Australia. The purpose behind establishment of this luxury brand was to create superlative products for the skin, hair and body (Aesop: the stuff of Fables, 2012). Aesop specializes in making greatest anti-oxidant products using both plant-based and laboratory-made ingredients of the highest quality and proven efficacy. Aesop is a product-based company and regularly launches new products for skin, hair, and body in response to genuine needs expressed by its customers.
Burt’s Bees is an interesting case, which discusses the success story of an all natural skin care company. It is an unusual concept but the founder Roxanne Quimby saw the market for such a product and immediately started acting upon this opportunity to create the best skin care company in the world. It was interesting to notice how Roxanne and the co-founder Burt Shovitz started the concept of natural skin care products just for the extra income and then went on to make it their core product of the company. This is the best example of an unpredictable market. Another interesting factor of the company is its use of natural products, keeping in mind the environment. The company doesn’t test its
In recent years, we have seen a growing desire among consumers to get back to more natural ways of doing things. It all started with the nutritional supplement boom of the 1990s and the healthy living craze that began at the turn of the 21st century. It continues today in the emerging trend of natural skincare.
It is highly recognized in the market especially among teenagers. Traditional acne products are low price range and kind of old fashioned in terms of designation and package, which catches lower income and function oriented customers. Since the main ingredients are not a secret, other popular cosmetic brands can also develop similar products. L’Oreal Launched “Acne Response” new Adult Acne Product, treats acne with gentle formula of 1% salicylic acid and 2.55% benzoyl peroxide, retail Price of $24.99 vs. $39.99 for Proactiv, which soon caught big market share and attracted some of the loose proactive customers. New producers claim that it is the ingredient which matters, not the expensive celebrity commercials. With proper marketing strategy, it won’t be hard for them to share cups from Proactiv. Other competition came from Natural skin care products. Some biological cosmetic products with aloe vera, green tea, passion flower, or Gotu kola are claimed to work well to cure acne and skin bacteria. They are natural and green with less side effect and damage to skin. However, not every company can afford the heavy input in advertising. As the first modern acne prevention and treatment product shown in the market, Proactiv will still lead the market and enjoy the competitive advantage for years.
As the consumer attitude gradually changes, people are more in favor of the natural and safe products in cosmetic market. Australia consumers are not exception. They respected green-added cosmetics, namely, they are increasingly in pursuit of natural, pollution-free cosmetics with no chemicals added. Consequently, the products of chemical-free will gain competitive advantages in Australian cosmetic market to meet the consumer’s psychological needs for green, organic skin care products.
Currently, the business has not ventured in the cosmetic market of London and Canada. Canada and London provide an opportunity for the company to expand its market through its international entry strategy of retailing and B2C framework. The SWOT analysis of the company shows a wide range of strengths and opportunities for the company’s future success such as market gap (London and Canada), Globalization, technology and good customer relation (BBB accreditation). The company demonstrates high capability of sustenance and survival through retailing, personal selling, E-commerce, E-marketing, Fashion Collaboration and other B2B platforms.
• Be the preferred company to meet the health and personal grooming needs of target consumers with safe, efficacious, natural solutions by synthesising deep knowledge of ayurveda and herbs with modern science.
Young girls are more concerned about acnes and blackheads while mature women are looking for anti-aging and anti-wrinkle products. Genders do affect the choice of skin care products. In the past, skin care products only belong to the girls’ world. Nevertheless, in recent years, men are increasingly becoming more and more concerned about skin care. With a view to this latest trend, various brands have started developing men’s line. Income level directly affects the purchasing power of customers. Skin care products take up a wide range of price levels from far less than a hundred dollars to more than a thousand. Young girls who do not have any income cannot afford the expensive skin care products while mature women with higher purchasing power focus more on quality and effectiveness. Occupations also determine the need for skin care products. Models and artists generally have a higher consciousness on skin care than people with less exposure to the public.
Herbal medicines are great alternative for commercially manufactured medicines available in the market. The major reason why herbal medicine differ from modern medicine is because they are produced with 100% natural content. Therefore the plant extract has all the medicinal values that are as effective as modern medicine. Commercially prepared drugs show results quickly but have numerous side effects. However herbal medicines don’t show any side