2. What is Marketing Mix?
“The marketing mix is “the set of marketing tools that a
company utilizes to achieve its marketing goals in the
target market environment.
Marketing mix is an important concept of marketing
management. The main aim of every business
organization is to earn and maximize its profits.
3.
4. The 4 Ps Of The Marketing Mix
Promotion
Promotion helps communicate with the potential customers and
promote product benefits to convince or attract them to buy.
Place
Place refers to the areas of distribution.
Price
The consumer pays the value to access or receive the product
Product
The company manufactures or designs the item or service
to fulfill consumer needs.
7. Segmenting the Target Market for Candles
The target market for candles can be segmented using the following segmentation
variables:
Intended Use
Types of Scents
Types of Wax & Wicks
Types of Containers
Method of Production
Consumer’s Age & Gender
Price / Willingness to Pay
Most consumers will fall in more than one segment and so will have multiple
variables driving their purchase decision.
8. Why Scented Candles?
The candle is often used as an aid in relaxation
and stress relief. The target market for such
candles includes people who are looking for an
easy way to relax and de-stress, usually at the end
of a long and tiring day.
The scents and colors used in these candles are
often meant to evoke positive feelings and
associations, such as happiness, peace, love, and
relaxation.
9. Process of Making …..
Scented Essential Oil Candle Making Ingredients
For making perfectly scented Candles:
• Molten Wax – 4 Ounces or 113 gram.
• Wax wicks.
• Container or molds.
• Essential Oils – 15-20 drops per 4-ounce candles.
• 1-ounce of essential oil per 8-ounce candle is ideal.
10. Packaging Strategy
Wrapping each candle
individually with tissue
paper to prevent candles
from melting into one
another, and consider
wrapping all of the
candles together with
extra cushioning so they
don’t jostle against each
other on their way to
their final destination.
When shipping candles,
extreme temperatures can be
harmful. High temperatures
can cause your candles to
warp or melt entirely.
freezing the candles can
cause the wax to crack.
Instead, consider shipping
candles with frozen gel
packs. This will keep them
cool, prevent melting, and
make freezing them
unnecessary.
11. CONTINEUATION…….
As with any business,
presentation is
everything. Why pack
candles in a plain box
when you can incorporate
a customized touch? Use
of decorative tissue paper
in your packaging, and
wrap candles with twine
or ribbon to add a
branded, enjoyable
experience for your
customers.
It’s essential to
choose the right box
when shipping your
products, no matter
what they are — but
this holds especially
true for candles. If
your candles are
encased in glass,
a heavy-duty,
corrugated box is
ideal.
12. Variants….
Nowadays various types of scented candles are available in the market from
bowls to jars to tea lights in an enormous number of fragrances from basic
lavender and rose to cappuccino and from champagne to macarons.
Lavender
Cinnamon
Rose
Citrus( Orange, Lemon, Grapefruit and Lime)
Peppermint
Jasmine
13. Pricing of Candles
For pricing, we must always start with the cost. We must weigh and
measure every component of a candles to get the exact cost, then figure
the fixed overhead, and put a markup from there. That helps to cover
operation costs as well as make a profit.
The price of your candle comes down to three
factors:
Materials – what do the supplies cost?
Overhead – what does it cost to produce and
fulfill an order?
Profit Margins – how much is your net-profit
after every sale?
14. CONTINUATION…….
Setting a price
Now that we have actual costs, we can experiment with
different pricing levels without worrying about losing
money. A traditional metric is to charge two times your cost
for wholesale orders and three to four times your cost for
direct sales.
Another pricing approach is to use a calculator to set a
marginal markup percentage for your candles based on your
costs. Generally, a 25% to 50% margin is a good range for a
candle business.
15. Market Research
Your target market are the people you want to reach with your marketing efforts. These are
the buyers who will be most interested in your products and most likely to convert to
customers. In the candle industry, target markets are broken down into three categories:
Prestige: Luxury candles are a new and quickly growing segment of the candle market.
Pricing may vary. The average prestige candle can sell for between 1000 and 4000 rupees,
Prestige candles are known for their premium packaging, fragrances, and emphasis on
brand storytelling.
Mid-market: These mid-tier candles have broad appeal. You’ll likely find them in retail
shops. Mid-market candles typically have unique scenes like rose water, grapefruit, or basil,
and cost around 300-800 rupees per candle.
Mass market: These candles are the most affordable on the market. The price goes upto 150-
200 rupees.
16. Channel of Distribution
A great place to start is your own e-commerce
store.
Creating an online store and selling candles on
online sites like Amazon. The online store is
not only more profitable in the long run, but
acts as a digital home for your brand.
17. Continuation…..
The following list of every channel merchants we can explore for their
business, these are some solid options to help market our own business
online.
Instagram:
Many lifestyle brands found great success building a sizable following on
Instagram. Curate a feed of beautiful images related to your brand, stage
photos of your candles to show off to customers, and reach a larger
audience. You can also use Instagram to reach out to brand evangelists and
provide a behind-the-scenes peek at how you make your candles.
Pinterest:
Home decor is a major category for users of Pinterest, which is one of the
largest platforms customers use to find brands and products. So it’s wise for
homemade candle merchants to consider Pinterest as a pillar in their
marketing strategy.
19. Sales Promotion Strategy
Make sure to share candle
promotions on Facebook,
Instagram page and youtube.
Distribute pamphlets and
advertise excellent flyers and put
them around town and
communal areas.
Offer referral discounts, gifts and
greeting cards and free candles
attract new customers.
Make sure to give unique
services during holidays, festive
seasons.
Advertise your business On PPC
advertising.
Sharing useful tips and tricks about
candle making tutorials on your social
site to grab the interest of customers.
Using unique scent combination, special
packaging, and bright names for your
candles to target new customers and to
make your candles unique and separate
them from the competition.
Must encourage your clients to give
candle business review.
