In this first course assignment, you will create a description of your selected company that includes trends, strategic positioning, distribution channels,

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Document Instructions

Delete the instructions in red before submitting the assignment!

Due: Week 3, worth 125 points

Length: The assignment should be 3 to 5 pages, excluding title page and reference page

· Review the description of this assignment in Canvas and use the tips provided along with this template to help you write.

· Be sure to review the For-Profit Startup Company Guidelines

· Use the textbook and review the recommended pages. Note that your textbook has sample plans at the end of each paper.

· Review the grading rubric before writing. Know what you are graded for. Always look at the “exemplary” section.

Notes:

· Leave the text in black as it is. You are required to have a heading for each of the sections in your paper.

· Use SWS format. You must respond to each question using indented paragraphs. The preferred font is Times New Roman, size 12.

· The references must be on a separate page at the end of the paper.

Company Description and Mission Statement

· Specify the company name and explain why you think it is a good name for your business.

· Describe the product or service your company is selling and provide a list of the options offered. (see week 1 discussion)

· Provide the final version of your mission statement in quotation marks to include the 3 required components: what you do, how you stand out, and your core values (you worked on this in week 1 discussion).

· Be sure to check the feedback provided by the instructor as a reply to your week 1 discussion post in week 1 discussion thread and make changes as needed. Check the suggestions made by other students as well.

Trends in the industry

· Research at least three trends in your specific industry, focusing on your particular type of product or service you sell.

· Describe the three trends and cite your sources.

· Provide industry information such as the size and growth rate for the overall industry and for the specific product or service on which you are focusing and any other relevant industry information.

Search the Strayer Library, industry associations, and reliable websites for recent data

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Strategic Position

· Choose one strategic position from the text (pages 146-147) and discuss why you believe this would be the best position for your chosen company.

· Explain the approach you will use at your company to implement this strategic position to stand out from similar products and competition.

Distribution

· Describe the company’s distribution channels. For example, will you sell your beverage in grocery stores, restaurants, or sports venues. Are you attempting to sell online or as a subscription?

· Provide the rationale for your chosen distribution method (s).

SWOT Analysis

· Insert the SWOT table/matrix (at least 4 bullets in each category). You created this in the week 2 discussion. Be sure to read the feedback provided by the instructor and adjust as needed.

· Summarize the key learnings from your matrix (the takeaways from this analysis) in a few paragraphs under the matrix. For example, you can explain your greatest strengths and how these can be used to pursue the opportunities you identified or to mitigate some of the threats. You can discuss some of the opportunities. You can also discuss your plans to minimize some of the weaknesses, etc. Be specific and avoid generic information.

Strengths 1. 2. 3. 4.	Weaknesses 1. 2. 3. 4.
Opportunities 1. 2. 3. 4.	Threats 1. 2. 3. 4.

Company Name

The for-profit will specialize in environmentally friendly personal care products. As a privately owned entity, it aims to deliver a diverse array of personal care items while maintaining high standards of quality and sustainability. Our primary focus is on organic personal care solutions and the promotion of environmental stewardship. In alignment with these objectives, we have chosen the name "Earthly Elegance" for our company, which represents a commitment to a more sustainable business model and resonates with consumers who prioritize eco-conscious choices. The name reflects our mission and the range of products we intend to provide to our target audience.

Product/Service

Earthly Elegance is committed to providing organic personal care products that prioritize positive customer experiences while minimizing environmental impact. Our production will utilize natural, biodegradable raw materials to create these personal care items. Our objective is to deliver the highest quality personal care products within our target market, adapting to the evolving needs and preferences of our customers. We will refrain from making misleading promises to boost demand; instead, we will ensure that customers receive clear and truthful information about the results they can expect from our products. At the outset, the company will introduce the following product offerings:

a) Organic shampoo and conditioner will be offered in a variety of formulations, including options for volumizing, moisturizing, and catering to complex or sensitive scalps.

b) Face wash and body wash will feature an array of formulations tailored to customer preferences and demands. These products will be crafted exclusively from natural raw materials, with a strict prohibition on chemicals. The face wash will be free of foam, ensuring that the skin remains fresh and silky for extended periods. Comprehensive studies on skin types will be conducted to guarantee that our products deliver satisfactory results.3. Natural fragrances derived from fruit and flower extracts will be introduced to enhance the daily experiences of our customers.

c) We will expand our range of personal care accessories to include makeup removers and skin care wipes, aimed at preventing skin issues for our esteemed customers.

d) Natural deodorants will be available in both stick and cream forms, formulated with fruit and flower extracts to provide a refreshing sensation.

The initial product line of our start-up will focus on offering a variety of self-care products. Our objective in developing an extensive range of items is to establish ourselves as the go-to destination for customers seeking personal care solutions. Depending on consumer feedback and sales performance in the first quarter following our launch, we intend to expand our self-care offerings with additional products.

Company’s Mission

The mission of the company is to create luxurious yet affordable self-care solutions that respond to the dynamic needs of consumers. We are dedicated to providing organic products essential for daily use, ensuring that we do not compromise on quality or sustainability. At Earthly Elegance, we view self-care as a pathway to confidence and self-expression. Through comprehensive research, we have blended natural ingredients to develop distinctive personal care products designed to empower individuals and enhance their timeless appeal. In today's market, consumers are increasingly conscious of their choices and prioritize environmental responsibility. Therefore, we are committed to offering sustainably produced organic products that meet both their self-care needs and their desire for environmental stewardship.

Market Size

Our personal care products will be available for purchase online via an e-commerce platform. The global market for personal care and beauty products is projected to attain a value of US$59.3 billion in 2023, with expectations to grow to US$132.7 billion by 2032 (Imarc, 2024). Given the intense competition within this market, we have chosen to distinguish our offerings by focusing on sustainability and organic ingredients.

Initial Capital and Funds

The business, being a privately owned for-profit entity, would primarily rely on the owner's capital for the majority of its investment, with additional funding sourced from investors. The initial capital requirement is set at $400,000.

Facility & Employees

The business will function as an online entity via an e-commerce platform. To facilitate inventory storage and oversee online activities, we will lease an office space. At the outset, we plan to employ a team of 10 individuals, comprising both managers and operators, with the potential to expand the team as necessary in the future.

Equipment

Hardware, including printers and machinery for the production and packaging of personal care items, will be acquired. Additionally, a computer and internet access will be necessary to maintain communication with our customers and team.

References

Imarc. (2024). Online beauty and personal care products market size 2032. https://www.imarcgroup.com/online-beauty-personal-care-products-market#:~:text=The%20global%20online%20beauty%20and,9.1%25%20during%202024%2D2032.