Entrepreneurship course work Essay Example | Topics and Well Written Essays - 5500 words

Entrepreneurship course work - Essay Example This is one of the most foundational benefits of offering organic food and skin care products to consumers: there is a pre-existing set of attitudes and beliefs that they are less harmful than non-organic products in many different consumer markets. Leonard (2011) illustrates that the organic cosmetic industry has moved from being a niche product line and is now available in more traditional channels such a major department stores and even hypermarkets. This has been a product of years of marketing distribution improvements and brand promotions. With more and more consumers linking quality with organic personal care products and more convenience by being available in multiple channels, companies now witness opportunities for higher profitability. The responsiveness of many companies offering organic products illustrate that the long-term opportunities for capturing broad target segments are significant. Worldwide, the organic skin care market was worth $7.6 billion USD in 2012 (Patterson 2015). The entire industry is expected to achieve a growth rate of 9.6 percent by the year 2018 (Pitman 2013). The UK, though a smaller market than Asia, ranks as the eighth largest market for organic cosmetics and personal care products. Falk and Benson (2008) asserts that the UK government has been instrumental in helping many consumer markets to understand the differences between chemical-based and organic-based personal care products which is creating higher levels of demand (and increased perceptions of value) for these products. Therefore, all indications is that the organic skin care and personal care product industry in the UK is favourable for achieving growth and profitability where there is measurable demand and beliefs about the quality of these products. Europe, as a whole, represents that second largest market in the world for organic skin care products. The organic skin care industry is moving toward double-digit growth as the