Allas, Julianna Mae G., Arpon Lorenz Anthony B., Dapiaoen, Kaila Rose L., Doblada, Alexander Allen M., Fajardo, Nomer Aerich R., Galope Jeanne Andre D., Meneses, Yves Tara L., Rivera, Julieta C. Tupas, Precious Shaina B. 4 0
Verde Essence: Exploring Soap Tablets for Personal Care / 6
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Allas, Julianna Mae G., Arpon Lorenz Anthony B., Dapiaoen, Kaila Rose L., Doblada, Alexander Allen M., Fajardo, Nomer Aerich R., Galope Jeanne Andre D., Meneses, Yves Tara L., Rivera, Julieta C. Tupas, Precious Shaina B.
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Feasibility Study: (BSBA major in Human Resource Management) - Pamantasan ng Lungsod ng Maynila, 2023.
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EXECUTIVE SUMMARY: a. Business Description Verde Essence is a brand dedicated to crafting high-quality hand and body soap tablets catering to individuals who prioritize using natural and organic ingredients in their self-care routine. In light of the heightened demand for enhanced hygiene practices, mainly due to the COVID-19 pandemic, Verde Essence soap tablets present an innovative and practical solution. Offering an array of distinctive fragrances with long-lasting effects, Verde Essence soap tablets cleanse effectively and provide enduring freshness, negating the necessity for additional colognes or perfumes. The COVID-19 pandemic has reshaped consumer behavior, emphasizing the significance of frequent handwashing and overall bodily cleanliness as critical safeguards against germs and bacteria. Recognizing this shift, Verde Essence strives to meet evolving consumer needs by delivering a product that ensures hygiene while elevating the sensory experience. The target demographic encompasses a diverse spectrum of individuals prioritizing hygiene and convenience. This clientele comprises mainly student-athletes prioritizing cleanliness in their exercise routines, and students seeking efficient personal hygiene solutions amidst busy schedules. Verde Essence soap tablets address the unique requirements of these segments, ensuring accessibility and ease in maintaining cleanliness. Verde Essence is a meticulously chosen embodiment of our brand's core values and product offerings. It signifies the lush, vibrant, and sustainable elements that characterize our soap tablets, emphasizing our dedication to eco-conscious practices and the use of environmentally friendly components. Essence denotes the quintessential nature of our product, signifying the concentrated, essential qualities and captivating fragrances infused into each soap tablet. Combining Verde with Essence, our brand name encapsulates the essence of nature, purity, and sensory delight defining our soap tablets. It communicates a commitment to providing a holistic and enriching personal care experience where individuals can cleanse and rejuvenate while staying connected to nature's vitality. Thus, Verde Essence epitomizes our brand's fusion of natural purity and our products' enduring sensory pleasure. b. Market Analysis Verde Essence aims to establish a strong presence in the personal care product industry by offering meticulously crafted hand and body soap tablets infused with natural and organic ingredients. The defined target demographic encompasses consumers who are mostly having outdoor activities such as students, athletes, gym goers, travelers etc. These individuals share a common preference for products that offer both convenience and sustainability, aligning with their eco-conscious sensibilities and a desire to move away from conventional abrasive soap products. An assessment conducted by the project's proponents and a thorough market demand schedule has yielded revealing insights. The findings reveal that the lowest anticipated demand for the year 2023 stands at 43,180,684. In stark contrast, the highest demand projection anticipated for 2029 surges to an impressive 156,148,766. This data unequivocally depicts a consistent upward trajectory in the total projected demand across the years, signifying a highly favorable and promising market opportunity for the forthcoming business endeavor. Verde Essence, a premium soap tablet, targets individuals in Manila who prioritize natural and organic ingredients in their self-care routine. The global soap industry has witnessed growing demand, mainly due to the heightened focus on hygiene during the COVID-19 pandemic. Verde Essence contributes to improved hygiene practices in the Philippines by providing a convenient, eco-friendly, Tresh soap option, promoting health and sustainability. As the pandemic emphasized hygiene and Cleanliness, the soap industry has adapted to meet the changing consumer priorities. Verde Essence's tablet soap offers a sustainable and organic sync alternative to traditional products, catering to a rising demand for eco-friendly options and compact soap tablets for on-the-go hygiene but faces stiff competition from industry giants like Unilever and Procter & Gamble in the Philippines. Additionally, e- commerce platforms such as Shopee and Lazada indirectly compete by offering alternative on-the-go hygiene solutions. To succeed in this competitive landscape, Verde Essence needs strategic differentiation. The soap industry has grown consistently due to increased hygiene awareness, a growing population, and evolving consumer preferences. Key competitors, including Unilever and P&G, dominate the market. P&G sales are 28.14%. This means that P&G's sales are expected to grow at an annual rate of 28.14% over the next five years, while Unilever's sales are expected to grow at an annual rate of 23.94% over the next five years. and Colgate-Palmolive also experienced growth. Verde Essence's target market analysis indicates fluctuating demand, ranging from 1,659,570 to 6,011,667 individuals, with the approximately 327.13% projected shares increase over the seven years, reflecting the growing demand for sustainable and eco-friendly hygiene products driven by health awareness and environmental concerns. C. Market Feasibility Verde Essence's marketing concept relies on outdoor enthusiasts and presents a compelling market feasibility, driven by the unique needs of individuals engaged in various outdoor activities. The portability and compact nature of the soap tablet make it an ideal hygiene solution which prioritizes light and space-efficient gear. Outdoor activities often entail exposure to dirt, sweat, and challenging conditions, making a convenient and effective cleaning solution essential. The soap tablet, with its minimal packaging and reduced environmental impact, aligns with the eco-friendly preferences of this target market. As outdoor recreation continues to gain popularity, the demand for products that cater to the specific requirements of this segment is on the rise, offering a promising market opportunity for a soap tablet designed to enhance hygiene during outdoor adventures. Effective marketing strategies emphasizing the product's practicality, environmental friendliness, and versatility, coupled with strategic partnerships within the outdoor industry, can contribute to the success of such a product in this dynamic market. Moreover, the rising trend of eco-consciousness makes the reduced packaging and plastic waste associated with soap tablets attractive to environmentally conscious consumers. The versatility of the product, allowing for various formulations to cater to different skin types and preferences, adds to its appeal. Effective marketing campaigns highlighting these benefits and strategic partnerships with fitness centers, sports events, and online platforms can help establish a solid market presence. D. Technical Feasibility Verde Essence, a small startup operating from a blended setting, a fusion of office and home- based setup, embarks on its technical feasibility assessment with resourcefulness and dedication. The company remains committed to producing premium hand and body soap tablets despite limited equipment and resources. Developing the Verde Essence soap tablet necessitates compliance with specific safety requirements for soap to be offered to the market, including approval from government agencies related to the soap industry. The development process is divided into primary phases: creating the soap, accepting the product's safety for the public, and distributing it. The company relies on suppliers for the raw materials to manufacture the soap tablets. The company employs various distribution channels to effectively reach customers, including social media platforms such as Facebook and Instagram, online stores like Shopee and Lazada, and temporary booths. The company's warehouse, located at 6 R. Valenzuela, Maynila, Kalakhang Maynila, is the central hub for raw material storage, product creation, and distribution. Additionally, the office space at 1110 Natividad Almeda Lopez, Ermita, Manila City, Metro Manila, will be a meeting space for essential investors and team gatherings. However, a flexible work-from-home setup will be extensively utilized to enhance mobility and flexibility. Furthermore, the company plans to participate in business expos to expand its operations and collaborate with other entrepreneurs. Social media promotion will also be leveraged to increase brand and product exposure. Verde Essence collaborates with experienced soap makers within its network in product development. Prioritizing using natural and organic ingredients, the company diligently sources high- quality materials within its means. Research and testing are integral to formulating soap tablets that meet safety, efficacy, and environmental standards. Despite potential limitations in production capacity due to space and equipment constraints, Verde Essence carefully evaluates its capabilities to meet anticipated demand without compromising product quality. Quality control processes are meticulously applied to ensure that each tablet adheres to specified standards for ingredients, fragrance, color, and antibacterial properties. The company optimizes methods to minimize waste and enhance the customer experience in the packaging and presentation realm, making the most available resources. While technology is harnessed for tasks such as inventory management and customer interactions through a mobile application, the company remains aware of its resource limitations. Data analytics tools aid in monitoring customer preferences and refining product offerings. Verde Essence maintains an unwavering commitment to innovation and sustainability despite its humble beginnings. The company invests in ongoing research and development to stay informed about indu