V. Competitive Analysis
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Direct & Indirect Competitors
The following businesses are located within a 50-mile radius of [Company Name], thus providing either direct or indirect competition for customers:
Fauna is an online retailer of perfume whose products are made with natural ingredients. The company was founded by two friends who started developing the products while in college, and they have continued their research in Costa Rica’s rainforests to source the ingredients and ensure they are not harmful to humans.
The perfumes are priced on the expensive side and are marketed to those that live a luxurious lifestyle. In addition, Fauna sources all of its packaging from sustainably-harvested trees in Costa Rica. Fauna’s goal is to provide consumers with a high quality product that is safe for both humans and nature, while also creating jobs for people in Costa Rica.
The business has been growing steadily since its founding in 2018. The owners plan to continue expanding their product line, which currently includes two scents: Rainforest and Savannah.
Everly’s Eden is a more affordable line of fragrances. It is sold in large retail stores and can be found online as well. The company was founded over 60 years ago and gained mass appeal quickly. Their product line includes perfumes, lotions, cologne, after shave, candles, hair products, and body sprays. Their revenue is over a billion dollars a year.
The company’s product line contains chemicals that are not natural. Everly’s Eden products are mass produced using these ingredients instead of using all natural ingredients like the other eco-friendly line of products. The company is one of the top perfume companies in the country because they have so many different types of scents available at an affordable price point.
Fig & Branch
Fig & Branch is a local company that was established a year ago. They use natural ingredients, manufacture the scents in their home, and only sell in local farmers markets. They source all of the ingredients locally and have two signature fragrances – Wild Willow and Desert Flower. The company plans to grow organically and begin approaching larger retailers after they have gained a following.
The company’s mission is to create beautiful things that make people smile, and they strive to do this by using all-natural ingredients to create scents that are made with love and care. As their business grows, they hope to continue growing as an environmentally conscious company by reducing waste and using renewable energy sources whenever possible.
[Company Name] enjoys several advantages over its competitors. Those advantages include:
- Good for the Environment: [Company Name] only uses ingredients that are found in nature and does not contain any harmful chemicals.
- Scents: [Company Name] has three popular scents that are fresh, light, and uplifting.
- Healthy for the Skin: [Company Name]’s lotions contain ingredients that are replenishing to the skin so that those with sensitive skin, eczema, or psoriasis will benefit from its products.
- Pricing: [Company Name]’s price point is in line with its quality of products. It is not priced too expensive, yet higher than typical retail fragrances.