Title

Feasibility study and business plan for a new men fairness cream in Pakistan an entrepreneurship venture

Author

Shoaib Ahmed

Degree

Master of Business Administration Executive

Faculty / School

Faculty of Business Administration (FBA)

Year of Award

Spring 2018

Project Type

MBA Executive Research Project

Access Type

Restricted Access

Keywords

Cosmetics industry -- Pakistan | Cosmetics | Fairness cream

Executive Summary

There were two main objectives of this research paper. First was to study and analyze men fairness cream market and second was to check feasibility of launching a men fairness cream brand. The two were also interlinked as the findings of first objective were to be used to conclude our second objective. For our first objective we adapted three primary methods. First was to do literature review so that we already know what already has been researched on this topic and also to get information which we can't get through our limited resources. Second was through surveys of our target market which is urban males. We analyzed survey data through IBM's statistic software SPSS by using both statistical methods and graphs. Lastly, we interviewed a number of professionals in this field to get deep insights of this industry. The information we got from these interviews are priceless specially from MD Evan and Mayer International who himself is a successful Pakistani entrepreneur, have a very deep knowledge of skin care industry and have successfully launch a number of skin care products in Pakistan as well as abroad. The results we got from literature review were that it is not only now that people prefers being fairer but it is embedded in our history and even centuries ago people of sub-continent preferred fair colors because of many reasons. Also, this is not only limited to our sub-continent and even in other parts of worlds superiority of fairer complexion can be observed. In women fairness cream market, more than half of women population uses fairness creams and it is not only limited to Pakistan but researchers world-wide have found similar results in their country. Therefore, if marketed properly men can also be attracted to use fairness creams which is so common in women. Also, a number of factors which effects men's attitude towards buying cosmetic goods were shortlisted. They included self-image, aging effect, physical attractiveness, healthcare, attitude, life style, advertisement and purchase situation. The GDP growth rate of Pakistan which is predicted to be 5.7%, growth rate of small-scale industry in Pakistan which is expected to be 8.18% and CPI inflation which is currently 3.8% was also researched. While researching Men Fairness Cream market of Pakistan, it was found that its current size is PKR 406.8 million.

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