Senior Capstone: Lovure (Nicolle Braga)

Lovure A body care and wellness company

Created by: Nicolle Braga Presented: May 2022 Marketing III Ms. Sullivan, Everett High School

Copyright, 2022

Table of Contents Table of Contents

1

Executive Summary

2

Industry Overview

3

Business Description

4

Branding

5

Unique Selling Proposition

6

Market Analysis

7

Target Market

8

Marketing Goals

9

Marketing Mix

10

Brand Positioning

11

Sample Advertisements

12

References

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1

Executive Summary Our Mission Lovure’s mission is to provide customers with healing for the skin, body, and mind. Our products are made using organic, all-natural, cruelty free ingredients, targeting all genders and ages. We also aim to help the environment, by focusing on sustainable initiatives, such as refillable candle jars. One of our greatest strengths is using ingredients that you can pronounce and feel good about.

The Company and Management Lovure was founded in 2022 by Everett High School senior Nicolle Braga. Nicolle has a passion for all things skincare and scented.

Our Services At Lovure, we offer body care, skin care, and wellness care in the form of scents. We utilize all-natural ingredients to create products that you can feel good about using. We don’t use harsh chemicals, nor do we test on animals. We offer lotions, moisturizers, candles, essential oils, and more, all made by hand and tested in house. You can trust the products you’re purchasing with us. Lovure’s research shows how important scent can be to mental wellness, so we utilize those scents into products to help our customers relax, de-stress, and unclog your sinuses and pores.

We also have a sustainability program, offering free candles if customers bring back their jars.

The Market In the United States, the market for clean ingredients is growing. At Lovure we are offering all body care, skincare, and wellness products that are clean, cruelty free, organic, and proven to work. According to McKinsey, the global market for wellness products is expected to grow 5-10% per year.

Our Competitive Advantages While we do have many competitors, they often use harsh chemicals. We don’t, and that’s why we’re the best option in the market.

Start-up Financing Requirements We are seeking an operating line of $350,000 to finance our first-year growth, which would include rental space, product creation and marketing.

2

Industry Overview Health and Wellness Industry According to The Global Wellness Institute, the global wellness economy was valued at 4.9 trillion and then dropped to 4.4 due to the COVID-19 pandemic in 2020. With a projected 9.9% average annual growth, with the wellness economy reaching nearly $7.0 trillion in 2025.

The wellness industry includes personal care and beauty, healthy eating, and mental wellness.

Within personal care and beauty, consumer spending fell in 2020, due to COVID-19, due to supply chain disruptions and a reduced demand for cosmetics products. With people working from home, grooming products saw a decline.

Mental wellness includes the senses, spaces, and sleep, as well as botanicals. This sub-market grew during the pandemic, with more people focused on mental health.

Our Position in the Industry With more people focusing on their mental well-being, partly due to the COVID-19 pandemic, we found a market that has specific needs and wants. Research shows that people are more concerned about their mental and physical health than pre-pandemic, which is where we come in.

We are an all-natural body care and candle company, focusing on wellness. We aim to provide our customers with products that will keep them satisfied. Using only all-natural, organic products, with a recyclable and reusable element to our business model, we feel that customers will be happy knowing that what goes on their bodies is not harmful to them or to the environment.

The Competition Our major competitors are Bath and Body Works, Yankee Candle, and Follain. These companies offer bath and body products as well as scented candles, which is what our company offers.

What Makes Us Unique What makes us unique is that our products are made with all natural and organic ingredients, unlike our competitors. We also offer refills on candles, so once a candle runs out customers can bring it back in for a replacement. This cuts down on our carbon footprint, but adding a recycling and reusing component to our business model.

3

Business Description LOVURE is an all-natural, organic body care and mental wellness company. Our focus is on making customers happy, by offering them products they can trust.

Our Mission Our mission is to make our customers satisfied with their purchases, in hopes that they feel like our products are making a positive impact in their lives.

Our Vision We see ourselves as the leading body care and wellness company in the Boston area. Not only can customers trust our products on their bodies and in their homes, but also trust our products to help the environment.

Our Goals and Objectives Our goal is to create and sell only products that we ourselves would use. We plan to offer products inspired by nature, for the mind, body, and earth.

Our Business Philosophy We believe in customer satisfaction. Customers won’t be satisfied if planet Earth isn’t satisfied.

Using only all-natural, organic products, with a recyclable and reusable business model, our customers can be assured that their health (body and spirit) is at the forefront of our decision making.

Industry We are in the health and wellness industry, which has grown tremendously since 2020, due to COVID-19. More people are focusing on their mental well-being. Our products for the skin, mind, and body are the perfect addition to anyone’s routine.

Our Strengths and Skills Our strengths include: no animal testing, all-natural ingredients, organic ingredients, locally sourced, and a recyclable and reusable element. We make products based in nature that our customers can trust.

Target Market Our target market includes adults (18-60+) who are in need of skin and body care products, who may also want to purchase items to help with mental wellness.

Closing Summary In closing, while there are a lot of skincare, bodycare, and mental wellness products already in existence, our company promises to be the best of them all. We can guarantee that our product offerings are unlike any others. Our ingredients, philosophy, and vision are all focused on customer satisfaction and overall health.

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Branding Slogan: An Aroma You'll Want To Savor Logo

Color Scheme:

Merch Examples

5

Unique Selling Proposition Lovure Candles and Body Care will be offering all natural products inspired by nature, for the mind, body, and earth. Not only can customers trust us, they’ll want to use our products due to our all-natural ingredients.

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Market Analysis SWOT Analysis Strengths 1. Natural products 2. wide variety of personal and

beauty care products 3.

Weaknesses 1. Located close to competitors 2. A little pricey 3. New to the industry

Eco-friendly

Opportunities 1. International expansion 2. Working with celebrities for endorsements 3. online/social media

Threats 1. Bath and body works 2. Yankee candle 3. Price wars between other brands

Competitive Analysis Bath and body works ● ● ● ●

●

Several different locations all around boston.

Candles,hand sanitizers, perfumes,lotions Direct They're always coming out with limited edition collections for different seasons and holidays They have no issue with sales; doing very well.

Yankee candle ● ● ● ●

●

Several different locations all around boston.

Candles Direct Yankee Candles burn down evenly, and take a long time to complete Popular in terms of sales

Follain ● ● ● ● ●

Boston Skin products and candles indirect They use vegetable wax Very popular in terms of sales, more high end.

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Target Market Demographic:

● 18-60 ● Any gender ● Any Ethnicity ● Average income

Geographic:

● Somerville, 344 canal st ● Language(s) ● Fall, winter, summer, spring ● EST (eastern standard time)

Psychographic:

● This person loves taking care of themselves and their living space. ● Self care ● Clean ● Enjoys skin care ● Smell scents

Behavioral:

● Depending on what product you buy, you will be using our products daily. ● Our customers will be looking to buy our products every 2-3weeks ● We expect to have brand loyalty with our customers ● Our customers will be looking for immediate progress with any product purchased.

Target Market Size ● Our target market is for people who love taking care of their skin,body and living space and want high quality products.

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Marketing Goals Goal #1: Social media ● We will work on our social media following and how we present ourselves, posting creative content promoting our products. We will want to achieve a goal of 6 thousands followers within the first year of being in the industry.

Goal #2: Brand Awareness ● Our customers are our number one priority. We want to make sure our customers are getting the best customer experience and enjoy buying from us, we want to build brand awareness with our customers.

Goal #3: Email list ● Lovure wants to achieve a certain amount of emails per day. By doing this, we will be sending our customers discounts and promotions coming up.

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Marketing Mix PRODUCT: We sell many products devoted to body care and mental health. While we sell many essentials for the body and mind, our main sellers include: ● Candles (8oz, 12oz, 16oz) ● Perfumes ● Body Lotions ● Essential Oils ● Body Wash Also, as part of our commitment to sustainability and environmental wellbeing, our candle jars may be recycled and replaced. This initiative allows consumers to bring their candle jar back to our store, where we will take it and replace it with a free 8oz candle of their choice.

PRICE: We will be using the keystone pricing method to set our prices. Our customers will be getting a fair price for all of our products from our base tier to our top quality products, and the company will also be making profit.

We believe that wellness begins on the skin and from within, so we want to provide fair prices for our amazing products.

PLACE: We are located in Assembly Row in Somerville MA. Lovure will have an online website where you can also purchase products there with a delivery fee, or free in-store pickup.

PROMOTION: Lovure will be active on Facebook, Instagram, and TikTok, promoting the products and services we offer. Not only that, but we will be working with certain celebrities to make commercials and ads. Our candle-return promotion will also allow customers to obtain a free candle if they return one of our previously purchased candles.

Value Proposition Statement: Louvre is valuable because we offer eco-friendly products that are high quality.

10

Brand Positioning For people looking to heal the skin and love what’s within, Lovure is a body care and wellness company offering organic, cruelty free, all natural products that customers will love and can afford. Lovure prides itself on quality products and customer satisfaction, which is why we’ve devoted ourselves to a sustainable, affordable, organic business model.

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Sample Advertisements These ads would be posted to our social media pages.

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References https://globalwellnessinstitute.org/ https://www.mckinsey.com/industries/consumer-packaged-goods/our-insights/how-to-thrive-in-th e-global-wellness-market#:~:text=The%20global%20consumer%20health%20and,on%20wellne ss%20products%20and%20services.

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