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Market Research and Feasibility Study

Aroma Spa in the Middle East

The client was considering the possibility of opening an Aroma Spa in the Middle East.

The global personal care market and perfume industry are showing growth trends according to Global Industry Analysts report on Global Fragrances and Perfume market 2015. The Economy of the Middle East is very diverse and is best known for producing and exporting oil. The general trends in the global perfume market depict a growing affluence and increased per capita spending on personal grooming and increased spending on cosmetics and toiletries by men. There is a rising popularity of celebrity and youth-oriented fragrances. The demand for white floral fragrances among women is on the rise. So is the increasing demand for natural fragrances. Customized fragrances see a growing popularity in the recent years. More and more companies are looking for signature scents as an innovative way to engrave their brands into the minds of consumers.  Scents have long been associated with memories and brands have tapped into this niche to ensure brand loyalty.”

As part of the project, we were requested to search and suggest suitable names for the business, conduct a market research and feasibility study, and if found feasible create a business plan.

Category : Health and Beauty
Date : June, 2016
Status : Complete
 Service 1: Market Research
 Service 2:  Feasibility Study

The client was considering the possibility of opening an Aroma Spa in the Middle East. As part of the project, we were requested to search and suggest suitable names for the business, conduct a market research and feasibility study, and if found feasible create a business plan.

The requirements were:

  1. Find a Name
  2. Market Research
  3. Feasibility Study

Naming

We suggested five names that are unique and suitable for the project.

While looking for the name, the following parameters were taken into account.

  1. Suitability for an Aroma Spa
  2. Availability of the domain name at a reasonable price. Premium domain names were excluded from consideration.
  3. Unique
  4. Has a rhythm or meaning.

 

Market Research & Feasibility Study

A detailed market research was conducted to assess the industry. The market research included a competitor analysis, SWOT analysis, customer profiling and competitive landscape.

Naming

The final shortlist was a set of five unique names.

Market Research and Feasibility Report

The final report included research findings, inferences, and suggestions from our experts.

Market Research

  • Secondary Research
  • Competitive Landscape
  • Competition Analysis
  • Pricing
  • Target Market
  • Customer Profiling

Financial Analysis

Name Analysis

Domain Name Search