Godinez, Marea Danielle

Chen, Beatrice
Chua, Johnelle Hailey
Dyhianto, Erika

NEW PRODUCT DEVELOPMENT

Idea Generation (What were your generated ideas and how did you come up with these
ideas?)
- Beginning with the research of current trends in the beauty and skincare industry, we
yearn for gaps or areas where innovation is needed. Forming a business like this
requires enough brainstorming and creative ideas. To study current beauty and skincare
trends to identify areas with high demand or emerging niches and to consider common
skincare problems people face and brainstorm product ideas that address those issues.
We also conducted surveys or gathered feedback from potential customers to
understand their skincare needs and preferences. Identifying a niche within the skincare
market, such as products for a specific age group or skin type, and tailoring our products
accordingly. And of course, to ensure that it is eco-friendly and sustainable practices in
product manufacturing and packaging to appeal to environmentally conscious
consumers. As a conclusion to this plan, our company will continue to focus on its
business tactics, particularly in terms of marketing, to ensure that it is well-known among
its clients.

Idea Screening (How did you filter your ideas and decide on one? Were there any criteria you
implemented?)

- First is we define our target audience and check if our idea aligns with their specific
needs and preferences. We also estimated the cost of production and pricing that allows
for profitability while remaining competitive in the market. And of course, to evaluate if
this idea can be scaled up if our business grows, ensuring it remains consistent in
quality. We also identify what consumers are looking for in skincare products. Are they
seeking organic, anti-aging, or specialized solutions? To explore also the use of novel
and effective ingredients in forming products, such as natural extracts, peptides, or
cutting-edge technologies and develop compelling brand stories and effective marketing
strategies to create a strong presence in the market. Being aware that the beauty
skincare industry is highly competitive, so staying innovative and responsive to
consumer needs is crucial. It's also important to adapt ideas to the ever-evolving beauty
market.
➢ Your product concept
1. What is the Form of your product?
● Our company offers a variety of skincare products that cater to different
skin types. We offer gel, cream, foam, and oil cleansers. Our cleansers
are non-stripping, gentle, and moisturizing. They do not include harsh
ingredients and are safe to use daily. We focus on improving the overall
quality of their consumer’s skin and making accessible and affordable
products. Aside from this, the packaging used for our products is easy to
use and contributes to the overall experience of our customers.
 Godinez, Marea Danielle
Chen, Beatrice
Chua, Johnelle Hailey
Dyhianto, Erika

2. What Technology will be used?

● We will be utilizing a mobile application in helping us to identify the skin
type of our customer based on their picture. Knowing the customer’s skin
type will help us in knowing how to approach their acne concerns.

3. What will be the Benefit/Need for your product?

● Our products are designed to cater to the needs and benefits of the
customers. We are committed to providing our consumers with the
healthy and confident skin that they deserve. Our diverse range of
products offers benefits such as hydration for dry skin, protection against
damaging toxins, acne treatment, anti-aging treatments that reduce pores
and wrinkles, and formulations for individuals with sensitive skin. We
strive to consistently achieve the goal of helping our customers attain the
glowing and healthy skin that they desire while enhancing the health and
texture of their skin.

Idea Evaluation (Do you have rough estimates of your product concept? What are those?)
- We make rough estimates of how many units we expect to sell initially and over time. In
calculating the point at which your revenue covers your costs, here is when you’ll start
making a profit. And also, to assume the expected ROI over a certain period. This helps
in understanding the profitability of our product concept. The prices of our products will
vary depending on the type of cleanser. Based on the available data, prices of cleansers
start from P200 and increase from there. Ideally, the prices of our cleansers will range
from P300-500 to make them more affordable for our customers. The prices are based
on the costs required to manufacture our products. We considered the costs for
materials, labor, testing, manufacturing, transportation, and more.

Development (Do you have a mock-up of your proposed product concept?) (Hailey)
- We have an eco-friendly prototype for our product's packaging that currently uses 25%
recycled materials. We make sure that no harmful materials are utilized to safeguard the
safety of our customers. We attempt to make our packaging as ecologically friendly as
possible while still guaranteeing safety and sanitary procedures, especially given that the
goods we offer are utilized to nourish our skin. According to the United Nations (2023),
we produce an estimated 430 million tonnes of plastic each year, with two-thirds of it only
being used for a short period of time, which is why our organization set out to constantly
design innovative packaging that uses more recycled materials than the current amount
we use in our current prototype.
 Godinez, Marea Danielle
Chen, Beatrice
Chua, Johnelle Hailey
Dyhianto, Erika

Commercialisation (Where do you intend to make your product available? Do you have
promotional plan ideas?)
- The availability of these products will extend throughout multiple outlets to ensure that
the consumers are able to access them conveniently. These skincare products will be
sold at retail stores such as BeautyMNL, pharmacies, salons, spas, supermarkets.
Additionally, we will expand our product distribution by establishing an online presence
on e-commerce platforms such as Shopee and Lazada. The blend of these strategies
allows us to maximize our presence and establish our brand in the beauty industry.

- Our promotional strategy would be implemented through pop up events, PR

collaborations with local beauty influencers and performing artists, advertising local
musical and cultural festivals, social media advertising, search engine advertising, and
by highlighting the unique features of the skincare product.