Answer To: You will prepare a report using the template provided. You will be applying the Strategic Choice...
Ayan answered on Apr 26 2023
Feeling Good Oils Strategy Choice Cascades Analyses Report
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Table of contents
Introduction / Background 1
Industry Research 2
Feeling Good Oil’s Competitive Landscape 3
Strategy Choice Cascades Analyses 4
Feeling Good Oil’s Apparent Winning Aspiration 4
Feeling Good Oil’s Apparent Playground 5
Feeling Good Oil’s Apparent Winning Strategy 5
Feeling Good Oil’s Apparent Capabilities to Win 6
Feeling Good Oil’s Apparent Management Systems for Competitiveness 6
Further Exploration 7
References 9
Introduction / Background
A business that specializes in producing premium, all-natural essential oils and mixes for health and personal care is called Feeling Good Oils by Vamlove. Dr. Diana Powers, who has a background in engineering, science, and complementary medicine, created the business. With its headquarters in Toronto, Canada, Feeling Good Oils offers its goods for sale online to clients all over the world. The company's goal is to give clients all-natural, risk-free, and efficient remedies to improve their mental, emotional, and spiritual health. Feeling Good Oils takes pleasure in producing goods devoid of the potentially dangerous chemicals and additives prevalent in traditional goods. Only premium ingredients are used by the firm, and each product is meticulously created to match its high standards. A large selection of essential oils are available from Feeling Good Oils, including single oils like lavender, peppermint, and tea tree as well as blends for particular uses like reducing stress, boosting the immune system, and promoting sleep. Additionally, the business sells personal care items including body oils, roll-on mixes, and diffuser blends. Feeling Good Oils has amassed a devoted client base over the years who value the company's dedication to quality and sustainability. Positive media coverage of the business has also appeared in a number of magazines, including Canadian Living, ELLE Canada, and Mind Body Green. The goal of this essay is to undertake a strategy choice cascade analysis of Vamlove's Feeling Good Oils, looking at its present competitive environment, winning aspirations, competitive playground, winning strategy, and competitive management systems. With the use of this study, we want to shed light on the company's advantages and disadvantages, as well as its growth prospects and room for development.
Industry Research
Understanding the external elements influencing a company's performance and decision-making requires conducting extensive industry research. In this part, we will give a summary of the key results from our investigation into the essential oil sector, including market trends, pertinent data, etc. The desire for natural and organic goods in the healthcare and wellness industries has been fueling the essential oils industry's steady growth over the years. The global market for essential oils, according to a study by Grand View Research, was estimated to be worth USD 7.03 billion in 2019 and is projected to increase at a CAGR of 9.7% from 2020 to 2027 (Sullivan, 2020). The market is being pushed by a number of reasons, including the expanding demand for essential oils in the food and beverage sector, the preference for natural and organic goods, and the increased usage of essential oils in massage and aromatherapy. Additionally, the usage of essential oils in the personal care and cosmetics sectors is boosting the market. In 2019, North America led the market and generated the biggest portion of worldwide revenue. Due to increased knowledge of the advantages of essential oils in nations like China and India, the Asia Pacific region is anticipated to have the quickest market growth. The transition to environmentally friendly and sustainable practices is an important trend in the sector. Customers are expecting items that are created and obtained in a sustainable manner as they become more aware of the environmental effect of their purchases. Businesses that can provide sustainable and eco-friendly goods are likely to have a competitive edge in the market. The Asia Pacific region is predicted to have the fastest market development because people in countries like China and India are becoming more aware of the benefits of using essential oils. A significant development in the industry is the shift to sustainable and environmentally friendly practices (Pereira et al., 2019). As consumers grow increasingly conscious of the impact their purchases have on the environment, they are demanding goods that were produced and acquired in a sustainable manner. Businesses that can offer environmentally friendly and sustainable products are likely to have an advantage in the market.
Feeling Good Oil’s...