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MGT602 - Assignment 1

The document outlines a business proposal for a Pakistani cosmetics brand that addresses unmet needs for affordable halal-certified and eco-friendly products. It highlights the current market failures, such as high costs of imported halal products and the scarcity of eco-friendly options. The proposed brand aims to utilize local ingredients, advanced extraction techniques, and sustainable practices to offer lower-priced, trusted, and environmentally friendly cosmetics.

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13 views3 pages

MGT602 - Assignment 1

The document outlines a business proposal for a Pakistani cosmetics brand that addresses unmet needs for affordable halal-certified and eco-friendly products. It highlights the current market failures, such as high costs of imported halal products and the scarcity of eco-friendly options. The proposed brand aims to utilize local ingredients, advanced extraction techniques, and sustainable practices to offer lower-priced, trusted, and environmentally friendly cosmetics.

Uploaded by

kahice5128
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Student Name: Ehtisham Yousaf

Student ID: BC230400745

Subject: MGT602 – Entrepreneurship


Assignment No.1

Solution:

Task 1: Needs Analysis


Unmet Needs:
 Affordable Halal-Certified Cosmetics: Many Pakistanis, especially
those following Islamic principles, want halal-certified cosmetics.
These products should be affordable and free from forbidden
ingredients or processes.
 Eco-Friendly Beauty Products: There's a growing demand for
sustainable cosmetics with minimal environmental impact, like
biodegradable packaging and natural ingredients. However, such
products are rare in Pakistan.
Why Current Products Fail:
 Halal-Certified Cosmetics: Most halal products are imported,
making them expensive due to import duties and shipping costs.
Local brands often can't afford to get credible halal certification,
limiting options.
 Eco-Friendly Products: Eco-friendly cosmetics are either too
expensive or hard to find in Pakistan. There's also a lack of local
supply and awareness, making these products less accessible.
Task 2: Approach
Business Idea:
A Pakistani cosmetics brand offering affordable, halal-certified, and eco-
friendly products using natural, locally sourced ingredients. This brand
will meet the growing demand for ethical and sustainable beauty
solutions in Pakistan.
Technology Enabling the Solution:
 Advanced Ingredient Extraction: Use modern techniques to
extract high-quality natural ingredients like neem, turmeric, and
aloe vera. This keeps costs low while ensuring potency.
 Biodegradable Packaging: Use fully biodegradable containers
made from plant-based materials to reduce environmental
impact.
 Renewable Energy in Production: Use solar-powered
manufacturing to lower the carbon footprint and production
costs.
Task 3: Benefits
Lower Prices: Local sourcing and production methods make
products 20-30% cheaper than imported alternatives, making
them accessible to more people.
Trusted Halal Certification: All products are certified by
recognized halal authorities, ensuring they meet Islamic standards
and building consumer trust.
Sustainable Practices: 100% biodegradable packaging and energy-
efficient production (using 50% less energy) appeal to eco-
conscious consumers.
Task 4: Competition
Existing Competitors:
 Conatural: A local Pakistani brand known for natural and organic
beauty products. It focuses on natural ingredients but doesn't
emphasize halal certification or affordability.
 Wardah: An international halal-certified cosmetics brand from
Indonesia, popular in Pakistan. It’s more expensive due to import
costs and less tailored to local preferences.

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