THE PROBLEM AND ITS SETTING
Makeup is hugely versatile, not only in terms of colors and products, but also in terms of how it is worn. While some wear make-up to create a large and dramatic appearance, others will wear make-up more subtly. Make-up can be worn in a wide variety of situations, ranging from work, events, nights out, and even just round the house if you so desire. As a result of such diversity, the make-up industry is massive, meaning that everybody should be able to find products that they would want to wear and be seen sporting. The use of cosmetics is not latest trend, it has its roots deep within the annals of history, the cosmetic industry, which started glowing in the early 1990s, is expanding exponentially. With more women and men becoming conscious and willing to spend on their appearance, this industry has been growing at 20-25 percent the last few years. Not only have more people started using cosmetics, they are also willing to pay more to look and feel good. The penetration rate is becoming higher than expected, this not only means that consumers are willing to spend extra bit to look and feel good, but also indicates that constant up gradation from mass to premium products. The increase of media exposure, the willingness to spend more on personal care, consciousness about looks and advertisements and promoting targeting various consumer segments are some reasons for their trends in consumption and penetration.
In a place like Cabanatuan City where a lot of institutions such as schools, hospitals, parlors and business establishments are located, there is a high possibility that the business will be successful or profitable because of the greater number of employees who visits and go to the location of the business to buy this kind of product.
Statement of the Problem
This study aimed at determining the feasibility and viability of establishing “Make Up Hub” business in N.E. Pacific Mall, Cabanatuan City. It sought answers to the following questions: 1.
What marketing strategies could be taken into consideration to ensure the success of the proposed business? Who will be its target market? 2.
What technical requirements should the management implement in order to make the business more competitive? 3.
What form of organizational set up could be best adopted to put up such project? What are the qualifications of its personnel? 4.
How much capital is needed to finance the business? Who are the sources of funds? 5.
What are the potential problems that might be encountered by the business? What are the possible solutions of those problems? 6.
What are the socio - economic benefits that can be derived from this proposed business?
Significance of the Study
The result of this study will be beneficial to the following: The Researchers. This study will serve as a basis for developing new opportunities for the future. It will provide them with useful insights in the various aspects of the project feasibility study. The Future Researchers. The information will be useful as a tool or as a reference material in doing similar study in the future. The Potential Investors. To those who would like to engage in this business, this study will serve as a guide for they since it will provide them concrete guidelines on how to start a business. The Government. This study intended to sell products that will definitely give an increase on growth of our economic structure. If pushed through with this project, it would generate income and employment to the city of Cabanatuan.
Scope and Limitation of the Study
This study focuses on the viability of establishing a Make Up Hub at NE Pacific Mall Cabanatuan City, Nueva Ecija.
The proposed business is concerned in selling most up-to-date make-up styles and trends. The product will depend on the quality, design and cost-efficiency. It includes an evaluation of the project in terms of different aspects of business: The marketing, technical,...
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