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The purpose of the Spa Products Project is to understand how pricing and branding affect a product's marketability.
The purpose of the Spa Products Project is to understand how pricing and branding affect a product's marketability.
Brand 1, Geometri lip balm
Brand 1, Geometri lip balm
All sorts of fruity scents for this lip balm, might attract younger, or, (I don't mean to assume, i'm just stating the facts.) girl/glamourus customers. It is simple, with lighter colors.
Brand 2, Clover
Brand 2, Clover
a more professional-looking company, who probably would sell minty or flavorless lip balm. might attract older or more serious customers, of all ages/genders :D.
Brand 3, Equaled
Brand 3, Equaled
a fresh lip balm, very fresh. another more professional one, and could attract buyers who are serious, again.
Melting!
Melting!
we decided on a brand called lotus, chose our flavors, (Lavender and green tea) and melted the ingredients in a double boiler. 1 TB of beeswax, 1/2 TB of Shea butter, and 1/2 TB of coconut oil.
labeling!
labeling!
after coloring and flavoring it, we CAREFULLY poured it into the lip balm stick things, and let it harden. then we taped the labels we had made (With the ingredients, flavor, logo, and brand name on it), and put the cap on to finish.
Price per unit
Price per unit
I copied this handy-dandy graph from google classroom, and filled it out by looking at the product prices, and calculating the price per unit for each of the ingredients.
Describe the final results: Success! we made a good, quality, functional lip balm that smelled and tasted amazing. I could have done a bit better on the label though.
What do you know now that you didn't know when you started this project? Shea butter is incredibly potent smelling, and annoying to melt. products to make things are expensive, and hard work can really pay off, literally.
What advice would you give to future students about this project? Really think about your product ideas, and be careful about pricing.
What else would you like to try that you didn't have time for? New flavors/colors, and new labels, ingredient combos, pretty much everything else.
What proof do you have that shows you learned the project’s purpose? I've learned that the quantity and quality of your product can greatly affect your sales, if you only sell one stick of lip balm for a ton of money, then you will barely make anything.
The purpose of the Spa Products Project is to understand how pricing and branding affect a product's marketability.
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