1 Sensuous Bubble Business Plan Renee G. Bellamy Saint Leo University MBA 597 Entrepreneurship Dr. George Reeley 11 September 2022 2 Sensuous Bubbles Business Plan Sensuous Bubbles is a new business selling natural soap and cleansing products. The company will be an LLC, and the products will be made from scratch using natural ingredients. The products will be advertised using social media, billboards, and mail. Sensuous Bubbles' business plan will enable it to provide a new, natural alternative to the conventional soap and cleansing products on the market. Company Overview Sensuous Bubbles is an all-natural soap and cleansing company based in Los Angeles, California. The company will be an LLC and was founded by me, I am the sole owner and will be operating the business by myself. I am a former cosmetics industry professional who has always been passionate about natural and organic products. After years of research and development, I am finally ready to launch my product line that is good for the skin and the environment. The company's primary products will be all-natural soaps and cleansing products, including face soap, body soap, body scrub, feminine wash, and body oil. I will sell my products online at local markets and events through social media, billboards, and direct mail. I will also be wholesale to local stores. These products will be made with essential oils and other natural ingredients, such as turmeric, dried herbs, etc. The Sensuous Bubbles business plan is a comprehensive document that covers all aspects of the company, from its products and services to its marketing and financials (Scarborough & Cornwall, 2018). I have put a lot of thought and effort into this business, which shows in the plan's quality. This well-organized and well-written business plan should give me a good chance of success. My target market is people who are interested in natural and organic products, people who are looking for alternatives to conventional soaps and cleansers, and people who appreciate 3 handmade products (Alonso-Vazquez et al., 2018). My business plan is to start by selling my products at local markets and events. I will then use the money I make from sales to invest in a professional website, social media marketing, and packaging (Magalhães et al., 2020). Once I have a solid online presence, I will start reaching out to local stores to see if they are interested in carrying my products. My long-term goal for Sensuous Bubbles is to build a successful and sustainable business that provides natural and handmade soap and cleansing products to people looking for an alternative to conventional products. Start-Up Summary Sensuous Bubbles is a new LLC focused on natural soap and cleansing products. These products will be homemade and use essential oils and other natural ingredients like turmeric and dried herbs. The company will use social media, billboards, and direct mail to advertise and promote its products (Alonso-Vazquez et al., 2018). I have always been interested in natural health and beauty products and have been making my natural soaps and cleansing products for myself and my family for years. I have decided to turn my hobby into a business, and Sensuous Bubbles will result. The company plans to use various marketing methods to get the word out about its products, including social media, billboards, and direct mail. The company's target market will be people interested in natural and organic products and looking for an alternative to conventional soap and cleansing products on the market (Alonso-Vazquez et al., 2018). The company will offer various all-natural soap and cleansing products, including face soap/cleanser, body soap/wash, body scrub, feminine wash, and body oil. All the products will be made with essential oils and other natural ingredients and be entirely handmade. I will sell the products online, at local craft fairs and markets, and eventually through my brick-and-mortar store. I am seeking $10,000 in start-up funding to help cover the costs of supplies, marketing, and initial 4 inventory. I have already invested $5,000 of my savings into the business and am confident that Sensuous Bubbles will be a success. Ownership Model Sensuous Bubbles will be an LLC with me as the sole proprietor. I have chosen this ownership model because it will allow me complete control over the business and its operations(Scarborough & Cornwall, 2018). I will be responsible for all aspects of the business, including marketing, sales, production, and financial management. This model will also allow me to keep the business's profits (Magalhães et al., 2020). The business plan for Sensuous Bubbles is to produce and sell natural soap and cleansing products. The business will be based in Los Angeles, California. I will source the ingredients and packaging materials from local suppliers, manufacture the products in my home workshop, and package and label the products myself. These products will be made with essential oils and other natural ingredients and marketed as gentle and effective. The products will be sold online, through social media, and brick-and-mortar retailers. I will use various marketing techniques to promote the products, including online ads, print ads, and direct mail. I believe this business has excellent potential for growth and profitability, and I am committed to making it a success. I anticipate the business will require a small amount of start-up capital to purchase the ingredients and packaging materials. I will finance the business myself and will not seek outside investment. I expect the business to be profitable within the first year of operation. Products/Services Sensuous Bubbles will offer various all-natural soap and cleansing products, including face soap/cleanser, body soap/wash, body scrub, feminine wash, and body oil, catering to the needs of various customers. The company will also provide customized products based on the 5 specific requirements of individual customers (Alonso-Vazquez et al., 2018). All the products will be made with essential oils and other natural ingredients and be entirely handmade. The products offered by Sensuous Bubbles will be handmade and of high quality. The Sensuous Bubble's business plan is to produce natural soaps and cleansing products free of harsh chemicals and artificial ingredients. These products will be made with essential oils, dried herbs, and other natural ingredients that benefit the skin. The company will use only natural ingredients, which will be sourced from reputable suppliers. These ingredients will be combined to create products that are both effective and safe for use. The company will use modern manufacturing techniques to produce its products. This will ensure that the products meet the highest quality standards (Moro Visconti et al., 2018). Sensuous Bubbles will also have a team of experienced and qualified staff responsible for creating the products. The Sensuous Bubbles brand will be promoted as a luxury natural soap and cleansing product line that is gentle and effective. The packaging will be elegant, and the products will be sold at a higher price than mass-produced soaps and cleansing products. Sensuous Bubbles will target a niche market of consumers willing to pay more for a natural and luxurious product. The business plan for Sensuous Bubbles includes a detailed marketing strategy. This strategy will be used to promote the company's products and generate sales. The marketing strategy will use various channels, such as social media, direct mail, and billboards. Billboards will be used to target local customers and to create a visual presence in the community. Mail will be used to send out coupons and promotional materials to potential customers. The products of Sensuous Bubbles will be priced competitively. The company will offer discounts and promotions on its products to attract and retain customers (Moro Visconti et al., 6 2018). Sensuous Bubbles will also offer free shipping on orders over a certain amount. The business plan for Sensuous Bubbles includes a detailed financial analysis. This analysis will be used to assess the business's viability and determine the necessary start-up costs. The financial analysis will also be used to create a budget for the company. Sensuous Bubbles is a viable business that will offer high-quality products to its customers. The company has a welldeveloped business plan that includes a detailed marketing strategy and a detailed financial analysis. The company is well-positioned to succeed in the market and generate sales. Locations and Facilities Sensuous Bubbles LLC will be located in Los Angeles, California. The company will occupy a 1,200-square-foot storefront on Main Street. The location was chosen for its high foot traffic and visibility. The store will have a modern, clean look with white walls and natural wood shelving. There will be a small seating area for customers to relax and try out products. The company will have two full-time employees and two part-time employees. The full-time employees will be responsible for making products, managing inventory, and dealing with customers. The part-time employees will help with customer service and restocking shelves. The company has a reasonably small inventory due to the handmade nature of the products. However, the company will have a website where customers can purchase products and have them shipped. The website will also allow customers to sign up for a subscription service where they receive new monthly products. Sensuous Bubbles LLC will be a unique business in Los Angeles, California. There are no other stores that focus on natural soaps and cleansing products. The company will appeal to customers looking for a more natural alternative to conventional products. The products will be high quality and reasonably priced. The company will also offer discounts for bulk purchases and subscription service sign-ups. 7 Start-Up Funding To start my business, I will need to raise some start-up funding. I hope to raise $10,000 to cover the cost of supplies, marketing, and other start-up expenses. I will need equipment like a soap mold, a soap cutter, and a lye calculator. I also need to buy ingredients like oils, butter, and essential oils. I estimate that the cost of supplies will be around $5,000. I plan to use $2,000 of the start-up funding to pay for marketing expenses. I will use this money to create promotional materials like flyers and business cards. I will also use it to buy advertising space on social media and billboards. I estimate that the cost of marketing will be around $2,000. The remaining $3,000 will be used for miscellaneous start-up expenses like office supplies, website design, and legal fees. I estimate that these expenses will cost around $3,000. I am confident that I will be able to raise the $10,000 I need to start my business. I have already saved up $5,000 of my own money that I can put towards the business. I am also planning to apply for a small business loan. I have good credit and a solid business plan, so I am confident I will be approved for a loan. I am also willing to put up my house as collateral for the loan. If you are interested in investing in my business, please contact me. I would be happy to provide you with more information about my business plan and answer any questions you may have. Thank you for your time and consideration. 8 References Alonso-Vazquez, M., del Pilar Pastor-Pérez, M., & Alonso-Castañón, M. A. (2018, June 25). Management and Business Plan. The Emerald Handbook of Entrepreneurship in Tourism, Travel and Hospitality, 153–168. https://doi.org/10.1108/978-1-78743-529220181020 Magalhães, M., Frederico D´Orey, Pereira, M., Cardoso, A., Cairrão, A., & Figueiredo, J. (2020). Canvas Marketing Plan. Handbook of Research on Emerging Technologies for Effective Project Management, 158–168. https://doi.org/10.4018/978-1-5225-99937.ch009 Moro Visconti, R., Montesi, G., & Papiro, G. (2018). Big data-driven stochastic business planning and corporate valuation. Corporate Ownership and Control, 15(3–1), 189–204. https://doi.org/10.22495/cocv15i3c1p4 Scarborough, N. M., & Cornwall, J. R. (2018). Essentials of Entrepreneurship and Small Business Management (9th ed.). Pearson 1 Market Summary Renee G. Bellamy Saint Leo University MBA 597 Entrepreneurship Dr. George Reeley September 18, 2022 Graduate Studies in Business Academic Honesty Statement My signature entered below constitutes my pledge that all the writing in this document is my own work, except for those portions which are properly documented and cited. I understand and accept the following definition of plagiarism: 1. Plagiarism includes the literal repetition without acknowledgment of the writings of another author. All significant phrases, clauses, or passages in this paper which have been taken directly from source material have been enclosed in quotation marks and acknowledged in the text itself as well as on the Reference page. 2. Plagiarism includes borrowing another’s ideas and representing them as my own. 3. To paraphrase the thoughts of another writer without acknowledgement is plagiarism. 4. Plagiarism also includes inadequate paraphrasing. Paraphrased passages (those put into my own words) have been properly acknowledged in the text and in the references. 5. Plagiarism includes using another person or organization to prepare this paper and then submitting it as my own work. 6. Plagiarism includes resubmitting my own previous work, in whole, or in part for a current assignment without the written consent of the current instructor. Saint Leo University’s core value of integrity requires that students pledge to be honest, just, and consistent in word and deed. I fully understand what plagiarism is, and I further understand that if plagiarism is detected in my paper, my professor will follow the procedures for academic dishonesty set forth by Saint Leo University, the Donald R. Tapia College of Business and the Graduate Student Handbook. Student Signature: Renee G. Bellamy 2 Market Analysis Summary Sensuous Bubbles will focus on two types of markets. The first type of market the company will focus on will be the general market. General market, in this case, means the more comprehensive market the company will provide its wide range of all-natural soap and cleansing products, including face soap/cleanser, body soap/wash, body scrub, feminine wash, and body oil. It will help cater to the different needs of various customers. The other market Sensuous Bubbles company will focus on is the customized market. In this case, the company will customize products and services based on the specific requirements of the individual customers. Market Segmentation Sensuous Bubbles company’s market segmentation will be based on the type, application, and distribution channel of the natural soap and cleansing products (Scarborough et al., 2018). The company intends to have various means to satisfy its customers to reach out to these markets. For instance, the face soap/cleanser, body soap/wash, body scrub, feminine wash, and body oil will help cater to various customers in this category. Sensuous Bubbles company will utilize individual customer categories to make products depending on the unique customer specifications and orders, including the specific oils and other natural ingredients they prefer to be included in their products. It will heavily rely on application analysis, including dishwashing, body cleansing, and hand washing. It will also help satisfy those customers who are not only interested in and appreciate natural and organic products but also have specific needs (Rahman et al., 2022). Sensuous Bubbles company will have to understand different customers' needs and the motivation for our handmade soaps to segment the market. Sensuous Bubbles company’s 3 customers will be individuals looking for natural or organic soap while avoiding specific chemicals found in those mass-produced soaps from big brand names (Daystar et al., 2021). Many of these individuals will also be looking for luxury handmade products that my company will provide. The types of soaps will also help Sensuous Bubbles company segment the market based on bath and body soaps, kitchen soaps, and laundry soaps. Segmentation by distribution channels will include online retailers and offline retail units like local markets and supermarkets. Industry verticals will consist of personal care, hospitals, local learning institutions, hotels, and boutique resorts. Target Market My target market entails people interested in natural and organic products. These are individuals seeking alternatives to conventional soaps and cleansers, and people who appreciate handmade products. There has been an unprecedented increase in the interest in healthy products that promote consumers' well-being (Brud, 2020). Sensuous Bubbles company wants to take up this opportunity to provide its loyal and potential customers with all-natural and handmade soap and cleansing products. These individuals will not only become regular and loyal customers of my company but also form the team that will help in my long-term goal of building a successful and sustainable business. Penetrating the target market will top the priority list for my company. It will be part of the well-developed marketing strategy I will integrate into my organization's business system (Scarborough et al., 2018). For instance, I will target individuals looking for natural or organic soap and cleansing products. The increased health awareness has prompted and triggered many individuals in society to gravitate towards handmade soaps that happen to be organic. The 4 essential oils, dried herbs, and other natural ingredients will be integral in avoiding specific colors, synthetic fragrances, and other chemicals. Sensuous Bubbles company also targets individuals with sensitive skin and allergies. Sensitive skin and allergies are prevalent in society, and these individuals are always on the lookout for natural skin care products that will not react with their skin. With our high-quality products from natural and organic ingredients, our soaps and cleansing products will not contain harsh chemicals. They will less likely cause irritation or reaction compared to other soaps. Sensuous Bubbles company also targets individuals looking for soap and cleansing products made by hand but with high-quality organic and natural ingredients. This market entails individuals who are attracted to handmade soap’s purity. These individuals usually avoid Sodium lauryl sulfate, often found in mass-produced soap (Daystar et al., 2021). This ingredient tends to trigger skin irritation in individuals with sensitive skin. Similarly, some individuals are concerned about synthetic fragrances' environmental and health effects. Most of these people are usually environmentally conscious and want to reduce carbon footprints; hence will tend to prefer buying and supporting local and small businesses because they know they are safer (Nassarawa et al., 2022). These target markets, alongside my environmental consciousness strategy, will help support my dream and achieve my long-term goal. Market Trends Numerous factors have contributed to the soar of natural and organic soaps and cleansing products, which Sensuous Bubbles company intends to capitalize on. One of those factors is a rise in awareness about dangerous chemical compounds in traditional mass-produced soaps. Skin allergies and other diseases globally have increased, influencing organic soap preference. Increased per-capita income and organic product endorsement by various celebrities have 5 increased natural and organic soaps’ uptake among individuals. However, the ever-increasing cost of these ingredients and production costs threaten the industry. Nonetheless, North America, in general, is likely to trigger about 35 percent of the organic soap market growth, with the United States being a significant aspect of it (Daystar et al., 2021). The natural and organic market enjoys a significant market share and tends to increase from time to time. For instance, statistics indicate the natural and organic soap market value will be about US$260.23 million from 2019 – 2024, with a Compound Annual Growth Rate of 6% (Daystar et al., 2021). The consumers' shift drives these unprecedented increases in the uptake and growing adoption of organic soaps. For instance, great fascination among Americans with herbal and organic products has aided the growth of organic soaps and cleansing products despite the high product prices. The COVID-19 pandemic has also facilitated the increase in adoption, with the American Cleaning Institute reporting about 69 percent of Americans in 2020 who used cleansing to clean hands to prevent infection (Daystar et al., 2021). Market Growth Numerous research reports indicate natural and organic soaps and cleansing products will expand and grow locally and globally over time. One of the reports by Research Market Future suggests the sector is projected to reach $430 million in 2027, representing about an 8.2% Compound Annual Growth Rate (Brud, 2020). Furthermore, the Organic manufacturing industry in the United States has been experiencing steady growth over the past few years, with an average of 3.5% (Brud, 2020). California is among the states with more organic manufacturing business – only behind Texas. Unsurprisingly, the report also states the shift in consumers’ focus towards natural soaps and personal care rapid expansion globally as the main factors that are influencing the 6 unprecedented increase and growth of the industry. It results from the increasing health and environmental awareness, which Sensuous Bubbles company intends to base on while developing its marketing strategy. Other major drivers for the organic soap market include increased disposable income among consumers and increased support for organic manufacturing product start-ups. Innovative products targeting distinct customers, product shelf-life enhancement, and e-commerce contribution toward penetration of different markets are mitigative factors that will counter any challenges the sector will inevitably face. These challenges include high production costs and a lack of raw materials. Undoubtedly, they will serve as the perfect opportunity for my company to fuel its growth and promote health awareness in society (Scarborough & Cornwall, 2018). Market Needs The natural and organic soap market has turned out to be among the fastest growing segment in recent decades within the soap industry. The high standards the United States sets in the global soap market – being among the leading soap production, export, and consumption – depicts the country’s capabilities in the industry. There is a local market, including the international visitors, and the international market. The increasing concerns among individuals regarding the detrimental chemicals synthetic soaps contain play a role in the shift of individuals towards natural and organic soaps and cleansing products. Individuals want to associate with products that will not only mitigate skin and allergy issues but also improve their well-being without exposing them to skin complications. Individuals also want products that have additional healing properties and can aid skin conditions like acne and sunburn (Rahman et al., 2022). The rising demand for organic 7 soaps and cleansing products in heavily populated countries like China and India is a good sign for manufacturers and market developers like myself. Market Analysis The organic soap and cleansing products industry has grown tremendously in recent years within the U.S. The industry boasts of numerous manufacturers with well-established companies being Dove, Nivea, and Pears. These companies have produced some of the best products, including cleansing and beauty products, for a while and set the standards as high as possible (Brud, 2020). Undoubtedly, they have been the focal point of growth of the beauty and personal care industry. For instance, since its launch in 1955, the Dove brand has been growing due to its product innovation and expansion abilities, especially in the soaps and cleansing products. A company, Dove, with a valuation of $200 million in the 1990s is currently worth $5.1 billion (Daystar et al., 2021). It depicts the growth opportunities that organic soaps and cleansing products can expose to a company. However, sometimes it usually comes down to the aggressive nature of the company toward product innovation and brand extension, which I will instill in Sensuous Bubbles Company. Distribution Patterns Any manufacturing company's biggest worry is always the safety of its products, especially during the distribution process. However, with technological innovation and advancements, companies have devised numerous ways of ensuring the products reach the final consumer safely through sustainable delivery companies (Alonso-Vazquez et al., 2018). For instance, Dove company uses Unilever to distribute its products to retailers and consumers. I also 8 intend to use channels like retail units, online retailers, and local supermarkets to distribute my products before growing and incorporating reputable distributional companies. Competition and Buying Patterns The organic soap industry has stiff competition, especially from the well-established universal companies in the market. Some brands in this category are also at a national level, including Dove company, which enjoys an extended market share even at the local level, let alone internationally. Nonetheless, Soap Cauldron, MoonEssence, and La Jolla Soap Company are California-based companies in the industry. Given how soap is essential to human life, these companies provide ready products for consumers. Consumers in this environment look at the health benefits specific products offer regardless of their prices or convenience (Rahman et al., 2022). Main Competitors My main competitors are well-established companies like Dove, Pears, and Nivea, which have high standards for organic soaps. However, I will take it as an opportunity and draw inspiration from these companies’ ability to innovate and expand their brands. Furthermore, the organic soap sector is broad, which allows an individual to develop his competitive edge over others (Nassarawa et al., 2022). For instance, I intend to utilize and maximize my potential in providing high-end products made from essential oils and natural ingredients like turmeric and dried herbs. Closely monitoring the company’s activities will also ensure I meet customers’ needs and satisfaction. The other competitive advantage Sensuous Bubbles company will have is customized products for individual customers. It will enhance product selection and enhance customer loyalty (Daystar et al., 2021). These factors will be coupled with regular supply discounts to 9 attract customers and increase market reach. Above all, Sensuous Bubbles company will constantly evaluate its product and services, location, marketing strategy, and organizational structures like mission and objectives to ensure it remains competitive in the market. Industry Participants The landscape of organic soaps is vast and has many players within the industry. The ability of individuals to launch many new organic, herbal, and chemical-free products to meet evolving customer needs has led to an increased number of manufacturers (Nassarawa et al., 2022). Some participants in the industry include Sundial Brands LLC, La Jolla Soap Company, Osmia Organics LLC, and Soap Cauldron. The major player in the sector comprises Nivea, Dove, Pears, and other local companies. 10 References Alonso-Vazquez, M., del Pilar Pastor-Pérez, M., & Alonso-Castañón, M. A. (2018). Management and Business Plan. The Emerald Handbook of Entrepreneurship in Tourism, Travel and Hospitality, 153–168. DOI: https://doi.org/10.1108/978-1-78743529-220181020 Brud, W. (2020). Industrial uses of essential oils. Handbook of Essential Oils. 3rd edition. Pg. 1029-1040. ISBN 9781351246460. Daystar, J., Hadfield, R., and Golden, J. (2021). An economic impact analysis of the U.S. biobased products industry. Industrial Biotechnology. Vol. 17(5), 259-270. DOI: https://doi.org/10.1089/ind.2021.29263.jda Nassarawa, S., Gupta, S., and Dandago, A. (2022). Hemp usage in cosmeceutical and personal care industry. Revolutionizing the Potential of Hemp and its Products in Changing the Global Economy. Pg. 145-155. DOI: https://doi.org/10.1007/978-3-031-05144-9_7 Rahman, N. S., Adnan, R. and Nazari, A. S. (2022). Organic olive oil soap prepared via saponification method. Multidisciplinary Applied Research and Innovation. Vol. 3(1), 1 – 6-1 – 6. DOI: https://publisher.uthm.edu.my/periodicals/index.php/mari/article/view/2811 Scarborough, N. M., & Cornwall, J. R. (2018). Essentials of Entrepreneurship and Small Business Management (9th ed.). Pearson. Professor feedback- be sure to use the official GSB title page in the future. I enjoyed reading your preliminary information about your business idea—how you view it, your start-up plan, it’s model or legal structure, what products or services you will provide— and how, from where you will operate (home base), and how you intend to obtain funds? Prior to all of this, it would be the natural first step to perform a feasibility study— simply to test the market to see if there is room—or any demand for you want to offer to the economy. I always recommend that your feasibility study include an “exit strategy” so that your debtors are in queue to be paid in the event your business fails. I will also be looking at your break-even analysis—being the quarter/year your initial costs start to decrease, and profits show growth. It’s at this intersection where excitement can begin. I am really looking forward to learning more about your business venture in the coming weeks—and how you intend to launch it, market it, fund it, and sustain it. No detail is too small—or should be excluded from your plan. Also, please be reasonable in the beginning about what you can afford. It’s best to build-UP, rather than begin too large and make cuts. Again, we can discuss any of this in the Zoom session on Wednesday—or feel free to reach out to me by email at any time if you have specific questions where I can hopefully provide guidance. Thank you for sharing this sage information about protecting YOUR intellectual property through the eyes of the entrepreneur--you. Further, I modified instructions so that you could search the web for an article or two that aligned best with your business model. Now it’s so important for any new business with a unique idea, tools, products or services to protect their intellectual property so that it’s not “borrowed” (HACKED) by competitors. If and when any idea or product is ordinary, it loses value fast, and with aggressive competition and marketing, other similar companies could easily disrupt or sink your business. One company, Disney, comes to mind as being extremely protective of their properties—for obvious reasons. Such is why YOU should pursue a patent, copyright, whatever legal means you can afford to ensure that your hard-earned work cannot be replicated (you will have a company logo and identifiable trademarks), and as we know, business folk get pretty ruthless out there. well done. Again, the development and distribution of natural cleaning products is currently in demand--if they are affordable. Which "generation" will you be marketing to the most aggressively? Be reminded that Boomers have more disposable income than Millennials. How will you overcome this disparity? Also, if you are making these products, do you have patents? Also, have you looked into any regulatory agencies that may need to be involved?- answerBoomers indeed have the most disposable income but the generation I'll be marketing to more aggressively are Millennials and Boomers. I would research my competitors and surveys/polls of the public to see what they're looking for in natural cleansing products. I wouldn't patent my products until I've perfected all of my formulas. I have looked into the consumer product safety commission and according to them: " The FDA’s regulations address three conditions: 1. What it’s made of: To be regulated as “soap,” the product must be composed mainly of the “alkali salts of fatty acids,” that is, the material you get when you combine fats or oils with an alkali, such as lye. 2. What ingredients cause its cleaning action: To be regulated as “soap,” those “alkali salts of fatty acids” must be the only material that results in the product’s cleaning action. If the product contains synthetic detergents, it’s a cosmetic, not a soap. However, the word “soap” can be used on the label. 3. How it’s intended to be used: To be regulated as soap, the product must be labeled and marketed for use as soap only. If it is intended for purposes such as moisturizing the skin, making the user smell nice, or deodorizing the user’s body, it’s a cosmetic. Or, if the product is intended to treat or prevent disease, such as kill germs, or treat skin conditions, such as acne or eczema, it’s a drug. Again, the word “soap” can be used on the label. You can read the entire FDA regulation at: 21 CFR §701.20. References https://www.cpsc.gov/Soap Sensuous Bubbles LLC is a company that will be providing a unique product or service to millennials. The company plans to market its product or service through online and offline marketing. The goal is to reach as many potential customers as possible and create a brand associated with quality and value. The target market for Sensuous Bubbles LLC is millennials. This generation is tech-savvy and open to new and innovative products and services. Sensuous Bubbles LLC plans to appeal to this target market by offering a product or service that is unique and that offers value for money. The marketing strategy aims to reach as many potential customers as possible and create a brand associated with quality and value (Slootweg & Rowson, 2018). This paper will study the online methods used, including social media marketing and search engine optimization, and offline methods, including traditional advertising methods such as print and television. The company will target millennials, specifically those in their 20s and early 30s, looking for an elegant, upscale, affordable, and luxurious bath experience. This generation of young adults is known for being tech-savvy, socially conscious, and open-minded. They are often stereotyped as being selfish, self-absorbed, and entitled. However, they are also a highly educated and tech-savvy generation expected to change the world. They are also the largest demographic group in the United States, making up 25% of the population (Silvia, 2019). They are also the largest spending generation, making them an ideal target market for our company. This target market is attractive to Sensuous Bubbles because they are more likely than other groups to be interested in trying new things, including new brands and products. They are also very active on social media, meaning word-of-mouth marketing will be very effective for this company (Slootweg & Rowson, 2018). And finally, millennials are often more willing to spend money on experiences rather than material goods, making them the perfect customer base for a luxury bath and body company like Sensuous Bubbles. This market is interested in quality products that are sensuous and fun. This market is full of people looking for ways to relax and escape the stresses of everyday life. They want products that make them feel good and look good. They are willing to pay for products that are unique and luxurious. The company will offer a wide range of bath products designed to provide a relaxing and sensual experience. The products will be made from high-quality ingredients and will be priced accordingly. The company will market its products through various online and offline retailers. Millennials appreciate quality and luxury and are willing to pay for them (Silvia, 2019). They are also looking for products that are unique and not widely available. They are discerning shoppers who are looking for a unique experience. Our target market has some specific characteristics. They include a love of social media and technology among customers, a preference for natural and organic products, and a desire for unique and personal experiences. This market is unique because they are the first generation to come of age in the digital age (Enyioko & Nwokah, 2019). This means they are comfortable with technology and expect companies to provide a seamless online experience. We believe there is a significant opportunity to tap into the millennial market with our unique product offering. By providing a luxurious yet affordable product that can be enjoyed in the comfort of one's own home, we believe that we will be able to appeal to this target market and generate significant sales. The company will offer various bath and body products, including bubble baths, bath bombs, soaps, and body lotions. The products will be made with natural ingredients and free of harmful chemicals. Sensuous Bubbles can market its products and services to millennials in a few different ways. One way is to use online marketing tools such as social media and Google AdWords. By creating targeted ads that focus on the benefits of the products and how they can im prove the user's life and using keywords that relate to the products and services offered by Sensuous Bubbles, millennials will be more likely to see the ads and click on them. Another way to market to the target market is to use traditional marketing methods such as print ads, television, and radio ads (Slootweg & Rowson, 2018). However, it is important to keep in mind that millennials are likely to be more responsive to ads targeted specifically to them and delivered through channels they use frequently. Another way is to target specific millennial demographics with ads focusing on their needs and interests. Additionally, Sensuous Bubbles can use social media to reach its target market by creating engaging content that appeals to millennials. We will use social media platforms such as Instagram, Facebook, Twitter, Instagram, Snapchat, and to reach our target market, as well as traditional methods such as print ads and direct mail. This will include having a website that is easy to navigate and mobile-friendly (Enyioko & Nwokah, 2019). Finally, they will need a solid marketing strategy that includes influencer marketing and targeted ads. What sets millennials apart from other generations is their use of technology. They are the first generation to grow up with the internet and social media. This generation is also known for its social consciousness (Enyioko & Nwokah, 2019). They are more likely to advocate for social and political causes than any other generation. They are also more likely to start their businesses. All of these factors make millennials an attractive target market for our company. We believe they will be interested in our products and services and willing to spend their money with us. The company must have a strong online presence to reach this target market. This is when you find people with a large following on social media who are willing to promote your product or service. Sensuous Bubbles will create engaging and shareable content that speaks to its target market. They will also partner with bloggers and other influencers who have a following among millennials. They will help promote our product or service in a way that is relatable and trustworthy to our target market. We will use attractive visuals and engaging content to capture the attention of our target market. Another way to market to millennials is by using technology. This can be done through targeted ads on websites or through apps. Technology is a great way to market to millennials. By targeting ads on websites or apps, you can reach this demographic where they spend a lot of their time. This is an effective way to market to millennials because you can reach them where they are already spending their time and tailor your message to them. Many companies use technology to market to millennials (Slootweg & Rowson, 2018). This can be done through targeted ads on websites or through apps. For example, a company might target ads to millennials who live in a certain city and are interested in certain products or services, which allows the company to reach many potential customers with a relatively small investment. Additionally, it allows the company to customize its marketing message to appeal to the specific interests of this demographic. Another way to market to our target market is by creating promotional posts and ads that specifically target Millennials. Some of the most effective ways to target millennials in promotional posts and ads include using humor, being relatable, and speaking to their values. Humor is a great way to get millennials to pay attention to your message and can also help make your brand more relatable. Being relatable is important because it helps to build trust between your company and potential customers. Another way to market to our target market is by attending events and trade shows that Millennials are likely to attend, such as music festivals or art fairs (Silvia, 2019). We can also distribute flyers and brochures in areas where Millenials are known to congregate, such as college campuses or popular coffee shops. We can also create targeted ads on websites that millennials are known to visit frequently. Moreover, we can partner with influencers with a large following among millennials and get them to promote our product on their channels. Sponsoring popular events among millennials is another way to reach this target market. Sensuous Bubbles will advertise in magazines and on popular websites among millennials. They will also distribute samples of their product at locations frequented by millennials. By using a mix of online and offline marketing strategies, Sensuous Bubbles will be able to reach its target market and generate sales. Finally, we will use traditional marketing methods like print and online advertising to reach millennials. We will place ads in magazines and websites popular among millennials and ensure our ads are creative and attentiongrabbing. Feedback from professor Hi--love the product concept! So, you're making these products, right? Make sure that you meet all regulations for skin and bath products so that you can place these approvals on your labels. Further, while your target consumers are Millennials, I assume that "older folks" like me can also benefit from them--and our group tends to have the most disposable income for products such as yours--so don't leave us out. You may want to contact store chains such as Bed, Bath, and Beyond to see if they want to carry them in their stores. Further, Amazon would be a good contact, too. The important thing is to get the word out about them--so even though social media is more widely used by younger people, think of ways to reach older groups as well. Health and wellness centers, gyms, and massage venues and spas would also be good places to talk to. Thoughts? Info on my business- The analysis of Porter's Five Forces at Sensuous Bubbles Company addresses the factors affecting the sector of soap and cleansing products production alongside its competitive landscape. The Porter's Five Force' purposes of assessing the position f the company depends on various forces such as the threats of subtle, new entrants, bargaining power of the suppliers, bargaining powers of the buyers, and competitive rivalry (Bruijl & Gerard, 2018). Porter's Five Forces analysis at Sensuous Bubbles Company helps assess the current market position depending on internal and external factors such as customers, competitors, future scope, financial strength, and alternative solutions. The New Entrants In the soap and cleansing industry, such as Sensuous Bubbles Company lies, consumers can try similar products and test and know their capabilities. How they would benefit in cleansing the skin and if they find them better on their skin than the already existing products, there is already a higher chance that they would continue with the new products. Therefore, Sensuous Bubbles Company faces threats from many companies with innovations on the same products currently entering the market, thus struggling for market shares (Anastasiu et al., 2020). Sensuous Bubbles Company boasts of its homemade organic products, thus promoting the values of how people feel and think about their products in general. Similar companies with similar products have also crowded the market, thus making it a challenge with other new entrants scrambling for space in the market. Also, the consumer's body structures influence the kind of soap or body cleanser they would use on their bodies, and they do not allow for moisturizing soaps as they might have oily face skin or acne. There is also increased awareness about the identified soap product ingredients that impact the skin and replacing the chemical field soaps with new natural brands such as the homemade products from Sensuous Bubbles Company. Thus, the threat to the new entrants into the product category at Sensuous Bubbles Company since that loyal customers to the product might be easily swayed to try the new products instead (Vlados & Chatzinikolauou, 2019). However, the homemade products from Sensuous Bubbles Company must be most of the dermatologist's choices. Threats of Substitutes Sensuous Bubbles Company cleansing products are averagely priced but slightly higher since they are homemade and considered much organic. The products from Sensuous Bubbles Company can distinguish the position that provides moisturized and clearer skin compared to the soap from similar brands. Thus, no other similar brand in the market of cleansing products, such as soaps, has homemade products that are gentle and productive to the skin compared to the Sensuous Bubbles Company's products. Some clients might buy cheaper soap and consider using the Sensuous Bubbles Company cleansing on their faces that are much sensitive and need greater attention (Anastasiu et al., 2020). However, the company faces a threat since other established companies are also trying to develop new products of homemade and organic nature to capture the interests of most people in the market. Bargaining Power of Customers In every market, most customers seek the price value and are always sensitive in most cases. Most customers would always like to use the product continuously. Thus, choosing to buy the items regularly also makes them more price sensitive, and they would always want the best products but at the lowest prices. Therefore, in the market range, Sensuous Bubbles Company's choice to address the customer's price sensitivity would be instrumental in creating a difference in the price of similar offering soap that can be applicable in shifting the customer toward the low-price sellers (Bruijl & Gerard, 2018). In other cases, customers would be swayed by advertisements and social media posts. Thus, when Sensuous Bubbles Company applies such techniques, it would be easier to achieve the targeted purpose in realizing the most valuable outcome in the process to state the best prices and requirements for the products in general. Thus, as a result of high bargaining power, it would be ideal to consider the customer need for price reductions for the customers in the highlighted category of soap and cleansing products. Bargaining Power for Suppliers Sensuous Bubbles Company products are homemade and provide the best combinations necessary to achieve the most effective skin tone. The company has focused on distributing the supply chain across multiple suppliers to avoid ingredient shortages. Also, more suppliers in the industry for soap creations offer competitive prices and are significant players in the market at different capacities. Sensuous Bubbles Company products are among the premium homemade cleansing products with significant buying powers (Anastasiu et al., 2020). The company has also adopted the responsible sourcing initiative that promotes buying from the suppliers to develop themselves most appropriately. Thus, Sensuous Bubbles Company's bargaining power with the suppliers and other already established companies with similar products might be lower. Competitive Rivalry There is stiff competition amongst companies with similar products, such as cleansing soaps that are homemade and skin cleansing products, since the companies in the similar industry strive to adopt unique promotional strategies to reach an extensive market in the beauty industry. Some of the critical universal competitors that might be a significant threat to Sensuous Bubbles Company include wellestablished companies such as Dove, Nivea, and Pears, which have also produced some of the best soaps and cleansing products in the beauty industry. All these brands have shown a significant media war in reaching their customers in the market (Vlados & Chatzinikolaou, 2019). Several sets of advertisements might favor established brands like Dove that also produce soaps and cleansing products, thus showing a more threatening environment that makes it hard for the Sensuous Bubbles Company products to sell. Generally, the presented analysis describes some basic understanding of Porter's Five Forces for the business plan to apply by Sensuous Bubbles Company that highlights different elements applicable in highlighting impacts on the competitive environment. The applied understanding in the analysis would thus be used to highlight other aspects that affect the competitive environment of the business and how it would favor its customers. The presented analysis would therefore be applicable in assessing different external business factors that in any company would be assistive in coming up with some of the ideal concepts to satisfy the customer's demands. Thus, understanding the bargaining power of the supplier, the bargaining power of the customer, the threat of new entrants, the threat of substitutes, and the competitive rivalry are sensitive to realizing the value of the market and how it would favor the public demand of soaps and cleansing products. Anastasiu, L., Gavriş, O., & Maier, D. (2020). Is human capital ready for change? A strategic approach is adapting Porter's five forces to human resources. Sustainability, 12(6), 2300. Bruijl, D., & Gerard, H. T. (2018). The relevance of Porter's five forces in today's innovative and changing business environment. Available at SSRN 3192207. Vlados, C., & Chatzinikolaou, D. (2019). Methodological redirections for an evolutionary approach to the external business environment. J. Mgmt. & Sustainability, 9, 25. Reply to Thread 
Purchase answer to see full attachment