Market Study
Price Comparison
Major Stores
1. Walmart - $11.98/per 16 oz bottle (click here for source)
2. Bath and Body Works - $10.00/per 16 oz bottle (click here for source)
3. Walgreen's $5.79/per 16 oz bottle (click here for source)
1. Walmart - $11.98/per 16 oz bottle (click here for source)
2. Bath and Body Works - $10.00/per 16 oz bottle (click here for source)
3. Walgreen's $5.79/per 16 oz bottle (click here for source)
VERSUS
Island Daze (Soap Nation Product) - $6.50/per bottle
Projected Profit
- Advertising Cost = 0$ (the ads were made online via Piktochart for free)
- Raw Materials Cost = $39.15
- Reactants (engineers) = $17.03
- Lab Production Cost = See raw materials and reactants cost
- Equipment = 0$
- Packaging Cost = $4.50 each
- Shipping Cost by bulk= (By Air); $6.80
- Shipping Cost by bulk= (By Sea); $230.16
TOTAL PRODUCTION COST = 297.64
- Raw Materials Cost = $39.15
- Reactants (engineers) = $17.03
- Lab Production Cost = See raw materials and reactants cost
- Equipment = 0$
- Packaging Cost = $4.50 each
- Shipping Cost by bulk= (By Air); $6.80
- Shipping Cost by bulk= (By Sea); $230.16
TOTAL PRODUCTION COST = 297.64
Consumer Survey
What is your preferred form of soap?
- Bar 31%
- Liquid 51%
- Foam 18%
Do you prefer the scent to match the color of the soap?
- Yes 66%
- No 34%
Which scent do you prefer?
- Fruity (cherry, citrus, apple...) 31%
- Sweet (vanilla, cinnamon, pumpkin...) 14%
- Natural (flowers, beach, mint...) 51%
- Unscented 4%
What density of soap do you like?
- Thick 80%
- Thin 20%
What price would you prefer to pay for soap?
- $0.50-$1 24%
- $2-$5 66%
- $6-$10 5%
- $10+ 5%
98 total voters
- Bar 31%
- Liquid 51%
- Foam 18%
Do you prefer the scent to match the color of the soap?
- Yes 66%
- No 34%
Which scent do you prefer?
- Fruity (cherry, citrus, apple...) 31%
- Sweet (vanilla, cinnamon, pumpkin...) 14%
- Natural (flowers, beach, mint...) 51%
- Unscented 4%
What density of soap do you like?
- Thick 80%
- Thin 20%
What price would you prefer to pay for soap?
- $0.50-$1 24%
- $2-$5 66%
- $6-$10 5%
- $10+ 5%
98 total voters
Marketing the Product
- “posters”/handouts/fliers/online advertising/jingle/slogan(s)
- Slogan: Refresh your soul & cleanse your mind with Island Daze all the time