Ayurved A Traditional Form Of Medical Treatment

2033 Words9 Pages
(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
Get Access