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_aAlcantara, Pia Marie L. Araza, Loraine Claire G. Cepe, Chrishella Jane R. Gregorio, Dhana Kristel V. Ramos, Harem Dyana G. Tolosa, Jaybe N.
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_aA feasibility study paper for Illume Luxe
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_a171 pages
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_aFeasibility Study: (BSBA major in Marketing Management) - Pamangtasan ng Lungsod ng Maynila, 2024
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_aABSTRACT: This feasibility study analyzes the possible success of Illume Luxe, a handcrafted scented candle business offering premium and customizable options. The study assesses the market potential, technological and financial viability, and socio-economic contributions of the business. Illume Luxe aims to meet the increased demand for eco- friendly and personalized products in the scented candle market, which is expected to expand at a 6.6% annual rate globally and 3.44% in the Philippines by 2029. Illume Luxe intends to operate at Salcedo Village in Makati, catering to middle-to-upper-income consumers and businesses such as hotels and event planners who value luxury and quality. The business offers distinctive designs, including dessert- themed and altar candles with personalization options to enhance customer experience. Its marketing strategies focus on online platforms, branding, and customer engagement to ensure accessibility and promote loyalty. The study shows financial viability, with an initial capitalization of PHP 2,100,000 with a promising profitability and scalability. The brand's commitment to local employment, environmental sustainability, and cultural preservation strengthens its socioeconomic value. Notably, this study suggests that Illume Luxe has a significant potential to prosper in the luxury scented candle market due to its emphasis on quality, sustainability and customer-centric innovations. Keywords: Handcrafted Scented Candles, Customization Options, Scented Candles, Luxury Products, Business Feasibility
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