IDEAS home Printed from https://ideas.repec.org/p/zag/wpaper/1807.html
   My bibliography  Save this paper

Possibilities for socially responsible entrepreneurship at Croatian natural and organic cosmetics market

Author

Listed:
  • Petra Leonora Cvitanović

Abstract

This paper focuses on somewhat underused window of opportunity and unrecognized entrepreneurial possibilities at Croatian natural and organic cosmetics market. There is a unique opportunity for starting a company in Croatia which will produce and sell cosmetic products of natural and organic origin. The aim of this research is to analyse the existing market situation and entrepreneurial climate for starting such a business, and to define general business goals and correct positioning of the new brand. The global natural and organic cosmetics market will grow up to 22 billion USD in 2024. The attractiveness of this industry in Croatia is influenced by barriers to entry such as consumers’ price sensitivity and strong competitive brands. By choosing the optimal sales and communication channels, the company will be able to reach the consumers, achieve greater brand awareness and larger market share. Marketing and financial goals should be related to social goals, such as opening of job vacancies, rising of awareness with Croatian citizens on the importance of conscientious treatment of nature, and educating them on toxic substances in regular cosmetic products. The main risks which the entrepreneur can expect include unwillingness of consumers in Croatia to accept the new brand and a general incomprehension of ecological business focus. If the company implements new technologies and integrates in its business environmentally friendly actions along with ethics in branding, advertising and marketing activities, it will be able to develop competitive advantage through recognizable reputation which will affect consumers' attitudes and purchase intentions. Developing a socially responsible business strategy should include a list of social projects that will be supported by the company and most appreciated by the community. In this research, online sources covering natural and organic cosmetics were used, together with books and scientific articles on social responsibility, marketing ethics, entrepreneurship and branding.

Suggested Citation

  • Petra Leonora Cvitanović, 2018. "Possibilities for socially responsible entrepreneurship at Croatian natural and organic cosmetics market," EFZG Working Papers Series 1807, Faculty of Economics and Business, University of Zagreb.
    • Handle: RePEc:zag:wpaper:1807
    as

    Download full text from publisher

    File URL: http://web.efzg.hr/repec/pdf/Clanak%2018-07.pdf
    File Function: First version, 2018
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Swiatkiewicz Olgierd, 2017. "Linking CSR to Strategy: A Practical View," Foundations of Management, Sciendo, vol. 9(1), pages 299-316, October.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.

      More about this item

      Keywords

      entrepreneurship possibilities; socially responsible business strategy; environmentally friendly business; relationship marketing; marketing ethics; brand awareness; ethical brand positioning;
      All these keywords.

      JEL classification:

      • M39 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Other

      NEP fields

      This paper has been announced in the following NEP Reports:

      Statistics

      Access and download statistics

      Corrections

      All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:zag:wpaper:1807. See general information about how to correct material in RePEc.

      If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

      If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

      If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

      For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: WPS (email available below). General contact details of provider: https://edirc.repec.org/data/fefzghr.html .

      Please note that corrections may take a couple of weeks to filter through the various RePEc services.

      IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.