Personal Care Industry Tows Analysis

TOWS Analysis

Threats

There is an intense competition in personal care industry in the country involving big local and multinational companies.  These businesses have created and started their operations for several years and some for decades and been able to keep up with consumers’ demands. These big companies have loyal customers who entrust them for taking care of their skins for years and the company might face difficulty in competing with them. Another threat includes the capability of other companies to adapt with the usage of natural ingredients.

Opportunities

        The business sees the opportunity of the continuous advancement of technology that will lead to the production of high quality product for a shorter period of time and the development of different formulae to improve and extend the life of products with organic ingredients. The business also anticipates the increasing consumers’ demand for products with natural or organic ingredients. Consumers are expecting personal or skin care products that have less harmful chemical or chemical free in the future because chemical causes harmful side effects making the demand for organic body lotions to grow more in the global market.

Weaknesses

          One of the main ingredients of the Goodnight Body Lotion is the Passion Fruit extract which is organic and organic personal care products specifically in skin care regularly have a shorter life resulting to short expiration date of the product. The overall concept of the product is also new to the market where the skin care and sleeping aid are merged into one resulting to low product awareness; because of this, the business may face challenges in promoting the product and in competing with high end products in personal care industry.

Strengths        

          Body lotions has been part of the daily routine of most people in the country. People view it as an essential in taking care of their bodies making it as one of the top selling products in the Philippines. Personal care products are being sold everywhere and can be bought by anyone which can be to the advantage of the business because introducing the product is not new, only with a different effect. The business offers the effects and the feelings that people get when they use lotion, but also effects that are beyond what a traditional lotion can do. The business wants the consumers to have a proper sleep schedule through the use of organic ingredients instead of supplement that is used by other business as sleeping aid product such as melatonin which have harmful side effects. The business is also the first to introduce a sleeping body lotion in the Philippine market and the uniqueness of the product will be the business’ edge against existing competitors.