Development of a Green Business Model for Biowax Cosmetics derived from the Wax Palm
Ninguno
DOI:
https://doi.org/10.22517/23447214.26019Keywords:
Palm oil, Biowax, Cosmetic emollient, Green Business Model, SustainabilityAbstract
Due to increased environmental awareness among consumers and the growing demand for natural goods, the need to develop sustainable products across various industries has arisen. Consequently, this study presents the development of a green business model for the production and marketing of a cosmetic bio-wax derived from the hydrogenation of palm oil. To this end, a review of scientific and technical literature was conducted, along with secondary market research. Semi-structured interviews were also performed with entrepreneurs and professionals in the cosmetics and palm oil industries. The resulting business model encompasses key aspects, for example, the differentiating value proposition, target market, financial analysis, distribution channels, and strategic partnerships. The findings underscore the need to focus on the product's quality, sustainability, and environmental responsibility characteristics, in line with market preferences for natural cosmetic ingredients. The model also incorporates aspects of the circular economy, eco-friendly transportation, clean manufacturing, sustainable innovation, and environmentally responsible practices. The study concludes that the formulation of business models can act as a catalyst for transforming scientific advances into commercially viable solutions
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