Crafting and marketing handmade candles infused with native ingredients from the Ecuadorian Amazon in Loja

Abstract

Design Thinking has been a crucial methodology for the creation of business ideas focused on problem solving through innovative ideas. The present study employed this technique using tools such as field research applied to 100 people previously selected to empathize with the market and gain an in-depth understanding of the problem of work related stress by determining the characteristics, behavior and needs. As a result of this research, it was defined that the problem affected women in the province of Loja between 25-45 years of age, and based on this finding, the production of handmade candles with essences from the Ecuadorian Amazon was devised to counteract work-related stress. It should be noted that this business idea was selected considering the principles of desirability, feasibility and viability. Therefore, the next stage focused on the validation of the project, carrying out a market study and applying the A/B test to prototype the products with the target segment, and based on this, the marketing plan was designed.Once the desirability and feasibility had been validated, the organizational study and financial analysis were carried out, verifying the viability of the business idea through the projection of financial statements and indicators such as the Net Present Value and theInternal rate of return to determine the profitability of the project. Finally, the internationalization plan was implemented as an alternative to consider for the growth of the project in the future, selecting the ideal market for its expansion and considering the opportunities and requirements of the market.