Project Proposal – Creating a Natural Shampoo Hair Product

Project Proposal – Creating a Natural Shampoo Hair Product

Brief Summary of the Project

The item being created is a natural shampoo for cleansing, softening, and treating hair naturally and healthily. The natural shampoo product being produced will target principally African-American women and will comprise natural ingredients from plant herbs and oils, including aloe vera, coconut oil, avocado oil, and lemon oil. Studies have shown that consumers, irrespective of their race, prefer products marketed with the organic/natural concept. For example, in one research in which men and women were asked to identify whether they prefer products branded as organic/natural, the Global Cosmetic Industry in 2014 reported that 32 per cent of women and 25 percent of men said yes. The study also identified that age played a significant part in the responses received. For instance, among the 32 per cent of women who answered yes, roughly 38 per cent were aged 13 and above (1).

Secondly, the new ‘natural shampoo’ product will target to tap into the growing male industry. According to market forecasts, the global cosmetics industry in 2017 was worth a whopping $532 billion, and it is expected to increase to nearly $805 billion in 2023. One of the main drivers for this increase in the size and market value is an increase in the market share of male consumers (2). Therefore, this project aims to create a natural product that appeals to both African-American female and male consumers. The new natural shampoo is likely going to take advantage of the projected rise in the market value of the industry as well as the increase in new male customers.

Project Goals

Project Goals

1. To increase the consumption and market share of male consumers.
2. To create affordable natural shampoo products.
3. To create a new, safe, natural shampoo product.

Project Objectives

1. For Project Goal 1: the objective is to create natural shampoo products that appeal to both female and male consumers
2. For project goal 2, the objective is to utilize cheap, readily available natural resources in the manufacturing process.
3. For project goal 3: the objective is to come up with natural shampoo products with minimal side effects and contraindications by using naturally-occurring plant oils and herbs.

Key Customers and Stakeholders

The primary customer for the new natural shampoo products is the African-American female. Studies have shown that African-American women have a preference for natural hair and body products because of the health benefits attached to these items, as well as their ability to cause minimal side effects and contraindications (3). A majority of African-American women also have a preference of going natural, often by creating natural curls. The second target market for the newly proposed shampoo product is the male consumer, especially millennials between 15 and 35 years old. The company will take advantage of the emerging male market to design a product that specifically appeals to their tastes and preferences.

As for the stakeholders, the product might attract the attention of the FDA (U.S. Food and Drug Association), which is one of the key federal institutions tasked with testing the safety and efficacy of the products manufactured, distributed, and consumed in America (4). It will be important for the company to create a product that meets all the safety protocols and criteria stipulated by the FDA. The other stakeholders that will likely have a higher interest in the product, especially its viability and marketability, are the company’s shareholders. Creating a novel product that will penetrate the market – based on market research and current trends – is likely going to determine whether or not the shareholders will approve and fund the project.

Key Milestones/Deliverables

The first project milestone will be to have the product design approved by the clients. Market research will be conducted to evaluate what type of shampoo products African-American female and male consumers prefer or purchase most. The second deliverable is to obtain funding from the company’s shareholders and other interested parties. After getting the product design approved, the next phase is to identify the cost baselines. The next deliverable is to identify the raw material sources and suppliers. After identifying the product design and getting the needed funds, the next essential step will be to identify where to source the raw materials.

Timelines

Cost Estimates

Source List

Global Cosmetic Industry. 2014. Preferences for Organic/Natural in Beauty and Personal Care See Growth Space. https://www.gcimagazine.com/marketstrends/segments/natural/Preferences-for-OrganicNatural-in-Beauty-and-Personal-Care-See-Growth-Space-261828421.html

Natasha Ketabchi. No Date. Looks that Thrill – Inside the Booming Beauty Industry. https://www.toptal.com/finance/growth-strategy/beauty-industry#:~:text=In%20the%20United%20States%20alone,of%20%24805.61%20billion%20by%202023.

Tanus Aline, et al. 2015. Black Women’s Hair: The Main Scalp Dermatoses and Aesthetic Practices in Women of African Ethnicity. Anais Brasileiros de Dermatologica, 90, no. 4, pp. 450-465. https://www.ncbi.nlm.nih.gov/pmc/articles/PMC4560533/

S. Food & Drug Administration. 2020. Search for FDA Guidance Documents. https://www.fda.gov/home

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Project Proposal – Creating a Natural Shampoo Hair Product

This is the first of three assignments that, as a whole, will cover all aspects of the project life cycle that are relevant to your selected project.
Scenario

You have been selected to be the Project Manager for a project of your choice. The project you decide to use must be one of a professional nature and must last for at least twelve months. In addition, the project should meet the key criteria of a project, such as:

Has a beginning and an end.
Results in something being delivered to someone.
Requires a series of activities that must be done to complete the project
Requires resources (e.g., people, materials) to complete the work.

Note: You are prohibited from using projects that can be found on the Internet, including projects found in places like CourseHero. All project submissions are submitted to SafeAssign for review.
Instructions

Write a 2–3 page paper in which you define the scope of your chosen project. In your paper, you must:

Provide a brief summary of your chosen project.
Describe at least three project goals and three project objectives.
Identify the key customer(s) and at least two stakeholders for your project. Remember, you are delivering the project to your customer(s); however, there are others (stakeholders) who have a vested interest in your project.
Describe at least three key milestones and/or deliverables for your project.
Describe a high-level timeline that includes key tasks and deadlines.
Estimate the project’s overall cost and any key staffing and non-staffing resources needed.
Use at least three quality resources in this assignment. Note: Wikipedia and similar websites do not qualify as quality resources.

This course requires the use of Strayer Writing Standards. For assistance and information, please refer to the Strayer Writing Standards link in the left-hand menu of your course. Check with your professor for any additional instructions.

The specific course learning outcome associated with this assignment is:

Evaluate corporate strategy and the project life cycle phases to define the project and initiate a project plan.