Opportunity for a New Product/service
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[pic 1]BSBRES401 | Analyse and Present Research Information Assessment 1 This project is due for submission on: _____________________________________________Student Declaration: I declare that the work submitted is my own, and has not been copied or plagiarised from any person or source.Name: ________________________Signature: ________________________Date: ____/_____/_____EXECUTIVE SUMMARYNatural 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 StatementWe 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 statementOur 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.[pic 2]Table of ContentsIntroduction 3About the Research 3Research Objectives 3Research Methods 3Strategies and Approach 4Results analysis 6Discussion / Interpretation of Results 11Conclusion and recommendations 11Reference list 11Introduction 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 ResearchResearch ObjectivesThis 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 MethodsPrimary Search – Consumer FocusResearch forms to collect qualitative and quantitative data on consumer attitudes, motivations, behavior and intentions.Secondary Research – Focus on ResellersDocumentary research for data collection from publications about the Market and sales reports of major resellers.Strategies and ApproachApplied research:Objective of generating knowledge for practical applications directed to the solution of specific problems.[pic 3][pic 4]Bibliographic research: Elaborated from material already published, such as books, articles, periodicals and Internet.• IBISWorlds 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 analysisApplied Research Results: