swot analysis
Strengths:
The biggest strength of this company is the uniqueness of the product. Indeed, even if the company has a wide range of direct competitors (Skinny Dip, Fairy Secrets, Element Tree…) is 2 in 1 candle is still an uncommon product. The uniqueness of the product can attract the curiosity of prospect customers and therefore stay ahead of their competitors.
The beauty market is a growing market despite the high concentration of companies. Indeed, according to Kline1 “sales of the hand and body lotions category have grown at a CAGR of 1.4% from $1.9 million in 2006 to $2.1 million in 2012”. Additionally to that body lotion is a very used product, as a Mintel research had shown 81% of beauty product consumers use body lotion and 89% use 89%.2 Moreover the men beauty product market is still booming and there are some market shares left. Indeed, according to a Mintel marketing study 7% of American males use anti-ageing products and 59% of American men think that 59% care product can boost their self-confidence.3
The market of personal care product for men has increased, it represented 4% of the sales in 2007 and now it increased up to 12% in 2012 to reach 3 billion dollars.4
Furthermore candles market is also a prosperous market, 7 out of 10 households own a candle and 90% of buyers are women5, so a combined product is logical and can be successful.
The organic ingredients, the “natural” designed packaging and the features of this candle, is also a strength, as shown in the Mintel research “nearly one-third”6 of the consumers are seeking all organic products. Plus, these past few years articles pointed the harmful effect of candles especially because of their non natural features. But this product is safe because organic but also because it does not damage the skin or burn it. However concretes advantages are seen as important, thereby 61%7 of users are interested in extra moisture and 30%8 in anti-aging qualities, yet Creative Energy’s candles are
The biggest strength of this company is the uniqueness of the product. Indeed, even if the company has a wide range of direct competitors (Skinny Dip, Fairy Secrets, Element Tree…) is 2 in 1 candle is still an uncommon product. The uniqueness of the product can attract the curiosity of prospect customers and therefore stay ahead of their competitors.
The beauty market is a growing market despite the high concentration of companies. Indeed, according to Kline1 “sales of the hand and body lotions category have grown at a CAGR of 1.4% from $1.9 million in 2006 to $2.1 million in 2012”. Additionally to that body lotion is a very used product, as a Mintel research had shown 81% of beauty product consumers use body lotion and 89% use 89%.2 Moreover the men beauty product market is still booming and there are some market shares left. Indeed, according to a Mintel marketing study 7% of American males use anti-ageing products and 59% of American men think that 59% care product can boost their self-confidence.3
The market of personal care product for men has increased, it represented 4% of the sales in 2007 and now it increased up to 12% in 2012 to reach 3 billion dollars.4
Furthermore candles market is also a prosperous market, 7 out of 10 households own a candle and 90% of buyers are women5, so a combined product is logical and can be successful.
The organic ingredients, the “natural” designed packaging and the features of this candle, is also a strength, as shown in the Mintel research “nearly one-third”6 of the consumers are seeking all organic products. Plus, these past few years articles pointed the harmful effect of candles especially because of their non natural features. But this product is safe because organic but also because it does not damage the skin or burn it. However concretes advantages are seen as important, thereby 61%7 of users are interested in extra moisture and 30%8 in anti-aging qualities, yet Creative Energy’s candles are