New Business Start Up Essay Example | Topics and Well Written Essays - 3750 words

New Business Start Up - Essay role modelAs they are planning to introduce a totally new product and reproach to consumers, they are anxious about the consumers response and reaction. For that detailed trace was carried out. It must be notified that Radiant Co. products target clamber conscious people of upper middle and upper class.Sample size focused on jump on groups of 15 onwards. The Survey primarily focused on age level between 15-25 because sun protection and beauty conscious people are for the most part found in this age group. But other age groups were also explored to know their behavior.In the soap foodstuff many brands dominate the scene, making their social movement felt in angiotensin converting enzyme way or the other either through aggressive advertising or promotional schemes. LUX dominates the soap market through its outstanding market share, as supported by the survey result its market domination is 51%. LUX with periodical revitalization of its brand has k ept the product in the British for a long period of time. Therefore, LUX appears to be the major competition for Hibuty in the soap industry, especially when one of its soap is providing sunscreen formula as an additive feature.Next stands SAFEGUARD, with 23% market share. SAFEGUARD is gaining a lot of popularity as a medicated soap rubbish germ all- round -the- clock. There is a future threat to Hibuty of its emerging as a new competitor, although not a direct one as SAFEGUARD presents itself as medicated rather a sun protective soap.Other soaps include Nivea Milk, English Lavender, Safeguard, Lifebouy and Dove.Most Influencing Factors in Soap PurchasingThe major influencing cistron of potential Hibuty customers, in making their purchasing decision for soap is GOOD QUALITY. 60% of the market gives performance of the soap a priority when buying it. arcsecond most influencing constituent determining their soap purchasing decision is brand loyalty with 25% of the market getting af fected by it. Third factor being again brand loyalty (23%), fourth most influencing factor is easy availability (30%) fifth most affecting factor is less impairment (36.5%). Least most influencing factor is status of soap marked as imported (50%). Survey reveals that soap purchasing decision in not at very much influenced by foreign status of the soap. The survey shows that there is opportunity for any soap that offer good quality at healthy price, potential customers of Hibuty are not very price conscious as they consider LESS PRICE option among the least influencing factors list. Commonly found skin typeSurvey purports that most common skin type found is oily with 40% of the customers having it. Normal skin types consist of 32% of the market, t-zone or combining skin (13%), sensitive (5%).Preference of fragrance in