Opportunity for a New Product/service
Essay by Juliana M. Reinert • October 18, 2017 • Essay • 1,642 Words (7 Pages) • 1,258 Views
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BSBRES401 | Analyse and Present Research Information Assessment 1
This project is due for submission on: _____________________________________________
Student Declaration: | Name: ________________________ Signature: ________________________ Date: ____/_____/_____ |
EXECUTIVE SUMMARY
Natural Skin is a small company that sells treatment products for the face, body, soaps, body oils and sun protection.
The business was born of the passion for nature and the need to lead a healthy life without the consumption of chemicals or unnatural. Initially the products were made for own consumption, however, the interest of family and friends showed that the products would have good chances of marketing.
Founded in 2015, Natural Skin is a family business that has consultants (door-to-door suppliers) for direct sales.
Vision Statement
We will be recognized as an innovative company in the development of natural and organic cosmetics, with excellence in the quality of our products and customer service; seeking, always in our business, respect for customers, suppliers and the environment.
Mission statement
Our Mission is to develop and provide cosmetics with natural and organic ingredients that provide balance and well-being to our customers. We differentiate ourselves by the quality of our products, the excellence in customer service, respect for suppliers and the environment and social responsibility.
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Table of Contents
Introduction 3
About the Research 3
Research Objectives 3
Research Methods 3
Strategies and Approach 4
Results analysis 6
Discussion / Interpretation of Results 11
Conclusion and recommendations 11
Reference list 11
Introduction
The organic sector, little by little, begins to win the interest of Australians. If in the food the demand for these natural items already registers a considerable growth - 25% compared to 2013 - and the category has a regulation in force, in the cosmetics sector the advances have not yet reached this degree of maturity. In addition to competing with major traditional brands in the field, organic beauty products do not have specific legislation or registration. Nevertheless, the number of companies that are willing to act in order to cause less impact on the environment and to use the term "natural" has increased.
According to a study by Organic Monitor, the organic cosmetics industry moves around $ 9 billion worldwide, representing 2% of the total market. Opportunities for this niche are large and the outlets are receptive in both the digital environment, such as in physical stores, supermarkets or large pharmaceutical networks.
About the Research
Research Objectives
This research aims to identify new trends and opportunities for the Natural Skin Market. Currently the brand works only with door-to-door sales and this has greatly limited sales growth.
Research Methods
Research forms to collect qualitative and quantitative data on consumer attitudes, motivations, behavior and intentions. |
Documentary research for data collection from publications about the Market and sales reports of major resellers. |
Strategies and Approach
Applied research:
Objective of generating knowledge for practical applications directed to the solution of specific problems.
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Bibliographic research:
Elaborated from material already published, such as books, articles, periodicals and Internet.
• IBISWorld's market research report on the cosmetics and hygiene products market provided industry-leading analysis and research on the market at the national level.
• The relevant industry body in Australia is the Direct Selling Association of Australia (DSAA). In 2011, it was estimated that more than 90.5 million people are now involved in the industry globally, creating retail sales above AUD $ 147 billion annually. Here in Australia, sales of DSAA members reached AUD $ 1.4 billion annually, and more than 400,000 Australians are involved in the industry.
These self-employed sales people make about two million home visits per month and average sales of $ 2,200 per year. Women account for more than 81% of the total salesperson and 4.6% choose to work full time in the industry. The Australian direct sales industry has achieved a major success in complementary area medicines with an estimated market share of 20% of annual domestic sales. Industry also has a significant (15%) Australian market for skin care (creams and lotions).
Results analysis
Applied Research Results:
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