Memoire Online - Feasibility study: pure argan oil

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Abstract

This ILP examines the feasibility of creating a company, Pure Argon Oil, that sellsa cosmetic product that is extracted from the oil of Argania spinosatree which lives in Morocco. In this ILP I talked about the production of the oil, the type of Argan oil and the benefits of Argan oil. In addition, in the literature review, Idiscusseddifferent points of view about the Argan oil production, its potential benefits, the cooperatives and its role in the development of the region which produce the oil.In order to investigate the awareness of consumers about Argan oil in the market, I performed a short survey (n=100)about Argan oil and about the online shopping. The deliverable for this ILP is a feasibility study in which I did a study of the industry marketplace, marketing strategies, marketing mix, development plan, operations plan and financial plan for this product.This feasibility study showed that this project will be viable and profitable, seen that thehuge growing demand on Argan oil in the international market.

Acknowledgements

I'm very grateful and thankful to my god who provided me with the essential and the right tools to succeed in this ILP.

My completion of this project could not have been accomplished without the support of my professor Donna Maimes, who helped me and oriented me during all the steps of this work.

A special thanks to my wife Samira, who was the only loving and supporting person, here near to me in this alienation very far from home. I would like to thank my parents, whose love and guidance are with me in each step I walk. Their prayers for me was very helpful all times. I want to thank also my brother and my sisters who are, even far from me, but their supports and encouragements was very motives.

Finally, I will dedicate this work to my future son who will come to this life in the next couple of months if god wills.

Chapter One: Introduction

Argan oil is a vegetable oil produced from the nut of a plant, Argania Spinosa, (L), native to Morocco that has uses in both the cosmetic and culinary worlds and is said to have medicinal properties as well. My goal is to work with a small team of three individuals to market the product in both the United States and the European Union. I will be responsible for the US, the second partner for EU and our third partner will be responsible for managing relationships with suppliers in Morocco. This Independent Learning Project (ILP) provides me an opportunity to gain knowledge essential to successfully launching this company. As a deliverable I will complete a comprehensive Feasibility Study that will provide the company with the opportunity to define our vision, mission statement, and strategic objectives.

The main reason that led me to choose to do a feasibility study about this kind of business is the huge increased demand on Argan oil in the international market, due to the declaration of many celebrities and Hollywood superstars, including Madonna, Kim Kardashian and Katy Perry, say that Argan oil is their beauty secret. Moreover, this feasibility study will allow me to better understand the cosmetic market, and in general enriches my knowledge in the marketing.

History of Argan Oil

Argan oil is produced near the city of Agadir in South Morocco. Historians believe that the tree was named as Argan attributed to the Argana village. It is the nut of a tree that lives for about 200 years, and has been used by Moroccans for many generations. Phoenicians recorded the first use of the oil was asa beauty product in 1550 BC. 3000 years later, in 1510 the African explorer Leo Africanus had carry out the product in first time to Europe and became the monopoly use by wealthy and rich class. Nowadays, Argan oil still the beauty secret for many celebrities and wealthy people, and became the talk time by many magazines and chat forums which specialized in the cosmetic topics.

The tree is in some danger of extinction, and the United Nations Educational, Scientific and Cultural Organization (UNESCO) has created programs to protect the species. It is estimated there Argan «woodlands cover an area of approximately 700, 000 to 800,000 hectares» or 7% of the forested areas of Morocco. (Moussouris & Pierce, 2000).

The Moroccan government is also aware of high demands on the Argan oil in the international market, therefore it put many plans in order to conserve and expanse the argan forest. Also it encourages the cooperative work in order to increase the production and decrease the expenses and to help small businesses to well compete in the market.

Types and Uses of Argan Oil

In general, there are two types of Argan oil. The first type is culinary designated as a food consumption, and the second one is cosmetic, destined as a cosmetic product. However according to the quality we can obtain up to 4 to 5 types for the culinary useas well as the same numbers for the cosmetics, and this according of the type of the fruits itself, the method used in the harvest, the storage of the fruit, extraction method, the grinding and squeezing techniques and also the storage of the oil itself.

Culinary Use

This type of Argan oil is obtained by roasting the fruits, and after that the roasted fruits will be grinded, blended and squeezed. Moroccans use this type of oil by dipping the oil with bread, with the famous Moroccan food couscous, and also in salads and similar uses.But they use it most in breakfast with honey over pancake. It is also the main ingredient in `Amlou' which is a delicious paste made of ground of almond, Argan oil and honey. It is similar to peanut butter paste.

Recently has been a lot of researches on the medical benefits of Argan oil, and showed that the daily consumption of Argan oil prevent from many kinds of diseases such as cancers, cardiovascular diseases, and obesity. Also most gourmet chefs around the world, are using culinary Argan oil asdrizzleonfish,vegetables, soupsandpasta. And they recommend the use of this oil in our daily meals.

Cosmetic Use

Oil utilized in the cosmetic industry is obtained by squeezing the unroasted fruits. This type could be distinguished by its golden yellow color. And has been used as cosmetic product by the local population in this part of the world for centuries. Because Argan oil is rich with vitamin E, and with a lot of fatty acids, especially omega 6 and omega 9, it has a lot of cosmetic and therapeutic properties. Argan oil could be used as moisturizing oil for the hair and the body, also it works effectively against acne and anti-wrinkle of the skin, as well as nutritional supplement and powerful for the hair quality and health. The cosmetic use of Argan oil is the principal topic in my research. I will talk in detail about the benefit of Argan oil as a cosmetic product. More data will be collected and analyzed to support our point of view.

Potential Medical Benefits

Recently the oil has been the subject of several medical researches. Therefore, has a new area of use, and become a very effective treatment for many diseases, such as rheumatism, burn healing, cancer prevention, digestion, skin health, hair health, nail quality and more.

Production of Argan Oil

The extraction of Argan oil is very difficult process, and requires a lot of labor hours. The extraction of one liter of Argan oil demands around thirty kilograms of Argan fruit and around fifteen hours of work. This explains the high price of this product in the market. In general, there are two techniques of extraction of Argan oil, the traditional method and the cold pressed method. Also to the technique used in the extraction process determines the type and the quality of the obtained oil.

Traditional Method of Extraction

Argan oil is obtained by using mainly manual methods. The fruit of the Argan tree is small, and round. A very hard peel covers the nut. The nut contains one to three Argan oil-rich seeds. Extraction allows from 30% to 50% of the oil in the seeds, depending on the extraction method. Extraction is key to the production process. To extract the nuts, workers first dry Argan fruit in the open air and then remove the fleshy pulp. The nextstep in this extraction process the women crack the Argan nut manually to obtain the Argan seeds or the kernels. There were many attempts to mechanize this process, but unfortunately they were all failed, so women still do it by hand, making it a time-consuming, labor-intensive process. Women often engage in this difficult task by sitting on the ground and use a base rock and sharp stone to crack the nut. After that they put the kernels in the traditional rock grinder and then grind it. (See Figures 1A and 1B)

Figure 1A and 1B Sorting and Grinding of Argan Fruit

The extracted oil is allowed to rest about two weeks, until totally been filtered and all the solids suspended in the Argan oil settle to the bottom, creating a natural sediment. The clearer Argan oil is further filtered, depending on the required clarity and purity. Argan oil may contain some residues. This is a natural part of the production process and does not affect the quality. This method is usually used in order to produce the culinary Argan oil.

Cold Pressing Method

This method is using to respond to the western hygiene standards. This method requires the use of the new technologies in the production process. During the production process, the women still crack the Argan nuts by hand. After that the cracked nuts are crushed and grinded by a specific machine which is dedicated for this purpose. And the nuts are cold pressed, and producing a pure cosmetic Argan oil from the press. This method is used in order to produce the cosmetic Argan oil.

Benefits of Pure Argan Oil

· Pure Argan oil could be used safely and effectively as a moisturizer for dry skin and for a more radiant, fresh, younger looking appearance;

· As a Lightweight Moisturizer Pure Argan oil is easily absorbed into the skin and delivers maximum hydration;

· Pure Argan oil could be also used as a gentle makeup remover that moisturizes skin as it easily removes stubborn makeup;

· Adding a few drops to liquid foundation adds a dewy-youthful glow to the skin;

Summary

Because of the increased use of the cosmetic Argan Oil around the world, starting a business whose main goal is the distribution of a pure and organic Argan oil, will without doubt be a profitable business if it has been well planned for it. Doing a Feasibility Study/feasibility study is a good idea because it will give me good estimates and help me and study all kind of possible obstacles and barriers. Even its high price compared to other similar oils. The use of Argan oil is no longer the monopoly of wealthy people, the targeted market is growing more and more.

Chapter Two: Literature Revie w

To ensure that I have a comprehensive understanding of the benefits and obstacles related to marketing Argon Oil, it is important for me to review literature related to the product, challenges of marketing and distribution, and the best practices for managing such a business. What follows is a review of the academic and professional literature related to this topic.

Introduction of Argan Oil

In their research, Guillaume and Charrouf(2011 discuss the unique features of the Argan tree. It is «a slow growing tree exclusively endemic to the barren lands of southwest Morocco. Traditionally, Amazigh, women native to the region, used the kernels of Argan fruit stones as a source of edible oil. Moreover, they add«Traditionally, Argan oil was used extensively in Morocco as a topical oil to treat various ailments, such as dry skin, acne, psoriasis, eczema, wrinkles, joint pain, and skin inflammation. It is also used to prevent hair loss and dry hair».

Glaser discusses what he describes as «an emerging gold rush» in his 2010 paper.

Said, in this analyst papers, «For a long time Argan oil has been known as being very valuable; it is a traditional beauty product and a healthy edible oil. For these reasons and its scarcity, the bar for its value is set very high. The trees which produce the fruit and the seeds, from which this rare oil is produced, grow only in Morocco, on the far north-west of the continent of Africa. Drop by drop this oil is emerging as a food delicacy and as an anti-aging skin product. It is found in specialty shops and in both urban and rural markets in Europe that sell this exotic rarity, which only a few people know about. In addition, there are several Internet websites whose providers are specialists or claim to be specialists in Argan products, which they sell on the web. Nevertheless, Argan oil has been stated to be «the world's most expensive vegetable oil» (Charrouf and Guillaume 2008, pg. 632)

Production of Argan Oil

It has been a lot of academic works, studies and researches about the Argan oil and its production. One of the literature review that I found very important and related to this feasibility study, is the Issue Paper series «People, Food and Biodiversity»by Nill and Worner. In this issue paper the writers discuss the history of Argan tree in Morocco, and about the production of the oil «It is important to distinguish between two value chains on the basis of major differences in the type of oil extraction involved. One is the manual pressing chain, the other the mechanical pressing chain. The manual process, which yields less product, is used in rural areas where the nuts are collected, while the machine-aided process is used in urban areas».

Hand-pressed Argan Oil

The first processing step is to remove the soft pulp, and then to crack the nut in such a way that the seeds (kernels) it contains suffer as little damage as possible. This is important in order to achieve a better price on the market.To improve the aroma, the kernels are then gently roasted and finally ground in a stone rotary quern. The resulting oily paste is constantly kneaded and lukewarm water added in order to drive out the oil.The remaining fruit pulp and oilcake are valued as high-grade livestock fodder; the nutshells are used as firing material to roast the kernels.The raw oil is filtered and filled into bottles. Some of this is used by the families themselves, but most of it issold on local markets or directly to urban consumers and small traders at prices between three and eight euros per liter.The small traders, in turn, market the product as edible or cosmetic oil or themselves process it to make natural medicines. Urban customers as well as tourists are key customers of the traders, paying 50 € and more per liter of oil. (Nill & Worner, 2007)

Mechanically-pressed Argan Oil

The mechanical production process extracts edible oil from roasted kernels, and oil for cosmetics and food supplements from unroasted kernels. Mechanical pressing yields greater quantities of oil and the oil keeps better. This makes it easier to export it as edible oil. Monitoring nut quality is more difficult than in the manual production process, as origins are more difficult to trace. Mechanically-produced oil is basically cheaper than its handpressed counterpart.(Nill & Worner, 2007)

Cooperatives: A Development Strategy

Dossa (2011), in his articleCooperatives: A Development Strategy? An Analysis of Argan Oil Cooperatives in Southwest Morocco. He illustrates the importance of the cooperative as an organizational form, which enable individuals to collectively compete in a market through joint-ownership agreements and democratic decision-making. Dossa's work reveals that through donor funding and the development of associations to commercialize cooperatives products, the cooperative model in Morocco has been largely successful.

After giving a brief description about the cooperative and its history in Morocco, the author talks about the life cycle of the cooperatives. He said «the life cycle of cooperatives has significantly improved through two interventions, donor funding and the development of associations.» (Dossa, 2011, pg. 4) The author also has analyzed the economic performance of the cooperatives, he affirmed that «the economic performance of a cooperative strictly depends on the mechanization of its production process. Furthermore, the improved quality and greater shelf-life that mechanized oil presses provide in conjunction with strict industrial policies that enforce quality testing of exported Argan oil have nearly eliminated hand-pressed oil from the market.» (Dossa, 2011, pg.3)

Dossa also, did an analysis for the cooperatives, and its economic and social roles. He considers that the cooperatives have contributed significantly to local economic development. In addition, he said «employing women has also improved the social status of women and strengthened social capital. The author argues that the success of Argan oil cooperatives can indeed be attributed to their abandonment of basic cooperative principles. Moreover, each of the four tenets (democratic decision making-equitable profit distribution- open membership- member education on cooperatives) that Argan oil cooperatives violate would have hindered the growth of the cooperative movement and therefore the development that followed.» (Dossa, 2011, pg. 9)

In the same context, Omari and Elkandoussi, in their article titled the Marketing of women's Argan Cooperatives. Challenges and Opportunities, agree with Dossa, that the cooperatives playing an important role in the development of the region which produce Argan oil. According to Omari and Elkandoussi «the Argan cooperatives have achieved positive results on social, economic, and environmental levels in the region, particularly for women of rural origin.» (2013, pg. 112). Furthermore, Omari and Elkandoussi confirm that having a strong and effective marketing strategy is the key which allows to the cooperatives achieve the planned objectives. They said «Since the role of the cooperative is not only to satisfy its members but also to contribute to the economic, social, environmental and political development of the community, the cooperative must adopt a coherent marketing mix that integrates economic, social and environmental dimension.» (pg. 113).

In addition, the authors confess that there are many difficulties faced by these cooperatives, weak marketing strategies, and the insufficient of the invested capital, high cost of the raw materials, and the lack and the absence of the human capital able to achieve the cooperative's mission in the international market. The authors suggest some marketing actions to overcome these obstacles, such as providing training in management and marketing for the members.

Both, Dossa and Omari, Elkandoussi agree that Argan oil production cooperatives are the motor of the development in South of Morocco. Moreover, these cooperatives contribute in the improvement of the conditions of life for their members by creating more employment opportunities especially for women, expand the awareness and fighting the illiteracy among its member. However, these cooperatives facing multiples of obstacles which Moroccan Authorities with the collaboration with other nonprofit organizations, trying to defeat it by putting in place many policies in order to encourage these cooperatives.

If these two studies, showed that Argan oil production has largely benefited the local communities, economically as well as socially. However, the aggressive harvest of Argan tree, could threat the endemic Argan forest.

Argan Oil: Benefits and Threats to Population

In order to illustrate the benefits and threats of Argan oil on the local population I reviewed, another study done by Lybbert,Aboudrare, Chaloud, Magan and Nash (2011). In the article titled Booming Markets for Moroccan Argan Oil Appear to Benefit Some Rural Households While Threatening the Endemic Argan Forest, the authors look at both the benefits and threats posed by the growing market for the oil. According to Lybbert et al «the Argan forests did not improve as well as the local communities did not benefited from the growth of the Argan industry. In Contrast, many communities were negatively affected by the rising cost of Argan oil sold locally while trees were over harvested due to rising prices of Argan oil in the market».

The authors did a micro analysis of the impact of the boom price of Argan oil on rural households and Argan forest. Then, they compared the result on two times. Before booming prices and after booming prices. According to Lybbert et al «As Argan prices soared between 1999 and 2007, average household Argan oil production tripled, and average Argan oil consumption fell by one-half. Argan fruit became a popular speculative investment.

The proportion of households selling Argan oil more than doubled; however, the proportion selling fruit increased more than six fold, because the booming fruit market has turned Argan fruit into an important source of income. Even more recently, markets for Argan kernels began to emerge, and these markets increasingly enable locals to capture the greater value added by stripping pulp and cracking stones to extract the kernel. The boom has also induced households to alter their exploitation of the forest. Conflicts over Argan resources have increased as well as conflicts over permanent barriers around seasonal usufruct forest tracts. Although most households still graze their goats in Argan trees during some periods of the year, they do so less frequently than before and very rarely during the fruit collection season. Locals tend to harvest Argan fruit more aggressively and often use sticks to dislodge fruit, which can damage branches and dislodge buds for subsequent year's production.»

It is clear that the booming prices of Argan oil has benefited economically and socially the local households through a reduction in rural poverty and an increase in the number of girls attending secondary schools. However, this study also showed that there is a negative impact on the Argan forest that include the use of aggressive harvesting techniques and the purchasing of more goats which threat the trees.

Therapeutic Properties of Argan Oil

There are a number of researches that have looked into the therapeutic properties of Argan Oil. This includes the work of El Monfalouti, Guillaume. Denhez and Charrauf

(2010). These studies were aimed at determining if Argan oil has only nutritional properties or if it can be said to also possess pharmacological properties.ElMonfalouti, Guillaume. Denhez and Charrauf (2010)claimed that Argan oil has a multiples therapeutic properties:

Cancer Chemo Protective Effects

Chemoprevention is defined by the American Heritage Dictionary (2016) as «the use of chemical agents, drugs, or food supplements to prevent the development of cancer.» A chemo protective agent, according to the National Cancer Institute (2016) is a «type of drug that helps protect healthy tissue from some of the side effects caused by certain anticancer drugs. For example, in patients receiving certain anticancer drugs» one drug or agent can help prevent damage to another part of the body. According to the work ofEl Monfalouti et al (2010) «because Argan and olive oils share a similar composition, the cancer chemoprotective effect attributed to olive oil has also been attributed to argan oil.Argan oil's high levels of ã-tocopherol - by far the most potent antioxidant of the tocopherols - and its high squalene content have even led to a suggestion that its chemoprotective effect may even be greater. Antioxidants present in Argan oil are believed to prevent or delay the onset of reactive oxygen species after lipid peroxidation observed in rats or human plasma.Specific investigations on prostatic cells have shown that, in vitro, Argan oil polyphenols and sterols have cytotoxic properties and exert an inhibitory effect on the proliferation of hormone-independent (DU145 and PC3) as well as of hormone-dependent (LNCaP) prostate cancer cell lines. The relative cytotoxic activity of Argan oil polyphenols measured by means of the MTT assay indicates IC50 values of 75, 100 and 50 ug/ml for the DU145, LNCaP and PC3 cell lines, respectively. For Argan oil sterols, the IC50 values are 25, 75 and 70 ug/ml for the DU145, LNCaP and PC3 cell lines, respectively».

Prevention of Obesity and Adverse Cardiovascular Outcomes

Obesity is defined by Oxford dictionary of nursing version 2014 as the condition in which excess fat has accumulated in the body, mostly in the subcutaneous tissues. Clinical obesity is considered to be present when a person has a body mass index of 30 or over. And adverse cardiovascular outcomes is the abnormal, harmful, or undesirable effect on the heart and blood vessels that causes anatomical or functional damage.

The work of El Monfalouti, Guillaume. Denhez and Charrauf (2010) suggests that Argan oil's phenolic fraction prevents low-density lipoprotein (LDL) oxidation in isolated human plasma.Phenolic compounds also enhance reverse cholesterol transport by increasing high-density lipoprotein (HDL) lipid-bilayer fluidity. The presence of these derivatives is therefore commonly used to explain the anti-atherogenic potential of argan oil.The authors conclude that Argan oil consumption being recommended for the reduction of cardiovascular risk and the prevention of obesity.

Influence on Thyroid Hormone Profile

The medicineNet define thyroid hormone as a chemical substance made by the thyroid gland for export into the bloodstream. The thyroid gland needs iodine to make thyroid hormones. The two most important thyroid hormones are thyroxine (T4) and triiodothyronine (T3). The thyroid gland is located in front of the neck just in front of the trachea.

According to El Monfalouti, Guillaume. Denhez and Charrauf (2010), the thyroidic activity of Argan oil has been evaluated in a cohort study performed on 149 euthyroidic volunteers consuming non-iodised salt by measuring plasmatic concentrations of free tri-iodothyronine (FT3), tetra-iodothyronine (FT4) and thyroid stimulating hormone. This study evidenced that no activity on hypothyroidism could be expected from Argan oil dietary supplementation.

Anti-diabetic Activity

In another study by Bnouham, Bellachen,Benalla, and Mekhfi. (January 2008) titled the Antidiabetic Activity Assessment of Argani Spinosa Oil, the consumption of Argan oil as a traditional food has the potential to reduce hyperglycemia-induced pathogenesis. It also explains the basis for its traditional use by rural community of western south Morocco.

Influence on the Immune System

According to El Monfalouti, Guillaume. Denhez and Charrauf (2010), Argan and olive oil's effects on immune cells are similar, and that Argan oil has no marked effects on immune cell function.In another study done by Khallouki, Spiegelhalder, Bartsch, and Owen(2005) published in the African Journal of Biotechnologysuggests that dietary of Argan oil, may have a relevant role in disease prevention and its consumption improves plasma lipid profiles, paraoxonase activities, and LDL peroxidation in healthy Moroccan men. The results showed that argan oil consumption protects against atherosclerosis (Cherki et al., 2003, as referenced by El Monfalouti et al)

Anaphylaxis properties

The Oxford dictionary defines Anaphylaxis asan acute allergic reaction to an antigen to which the body has become hypersensitive, the definition also states that serious allergic reactions, including anaphylaxis, occur rarely, but timely intervention is crucial.According toAccording to El Monfalouti et al (2010),the first, and so far unique, case of an allergy to Argan oil has recently been presented. Allergen was characterized as a 10 kDa protein, probably belonging to the family of oleosins that is also encountered in peanut and sesame.

Cosmetic Industry and Argan Oil

Burnet and Fiume (2011), in an article titled the Final Report: Plant Derived Fatty Acid Oils Used in Cosmetics discusses the safety and use of plant based oils in cosmetics. According to Burnet and Fiume these oils, which are derived from vegetable and fruit plants, are composed of mono-, di-, and, primarily, triglycerides, free fatty acids and other minor components, including natural antioxidants and fat-soluble vitamins. The percentage of chemical constituents and nutritional content of individual oil types is dependent on region where the oil plant is grown, individual cultivars, and plant genetics. Oils used in cosmetics are likely produced in the same manner as those used in the food industry. Oils may be expressed through mechanical or solvent extraction. The oils may undergo further refining, such as neutralizing, bleaching, and deodorizing, to remove pigments, odors, unsaponifiable materials, and other undesirables. The report concludes that Argan oil, is one of 146 types of derived from edible vegetable oils, which is safe to use in cosmetic.

Cosmetic Market Analysis

Ferrer, Hidalgo, Kaps and Kougoulis in a 2012 article called Market Analysis. Revision of European Echolable Criteria for Soaps, Shampoos and Hair Conditioners, state the European cosmetics industry sector, represents one-third of the global cosmetics market. Germany has the largest market in Europe, followed by France, UK,Italy and Spain. The EU cosmetic market is expected to grow with 4.4 per year for the next decade. With more than 4000 companies operating in EU, employing approximately 1.7 million people. The EU cosmetic market is dominated by big multinationals companies. P&G is the leader in this market, followed by L'Oreal and Colgate-Palmolive in the third place.The biggest problem that the sector suffers, is saturation of the market, with slow growth expected in the next years.

As a summary, the cosmetic European market is considered as one of the biggest market in the world, and presents a big opportunity for all companies in the sector. Even, the high competition, known in this sector, especially, by big brands. It still a big opportunity for a new product such as our product Pure Argan Oil, to succeed in this market.

The last point in this literature review is a feasibility marketing plan study for a product named as Gillette Men's shave gel with Argan oil. This product is somehow, similar to our product and a marketing plan will be very helpful in our feasibility study.

Country Analysis & Marketing Plan

The work of Blank, Hancock, Levin, Romanowsky, Somers and Walsh (2010) discusses the analysis of the Moroccan market to determine if Gillette men's shave gel with Argan oil, is viable and profitable for Gillette brand. The Authors started the study with an analysis for the country in the economical level as well as the political one. They confirmed the new place that Morocco start playing in North Africa as well as South of Europe, as one of the big economical actors in the region. With the huge reforms presented by the new Moroccan king in all kind of sectors. In the second part of this study, the authors did a marketing plan.

According to Blank et al (2010) the Mission statement is providing high quality product with cheaper price. Also theSWOT analysis shows that the Gillette brand is already exist in the market, so this is a strength point for the product. Also, the high cost of the product will make the price higher than other similar products and this will be one of the weaknesses. In addition, there are no shaving gel with Argan oil in the market, which present an opportunity for the product. However, most customers tend to look for simple product, and cheaper ones, this will be a threat for the product.

The market analysis and marketing mix, show that the Moroccan market is a promising market for such product as this product, and Moroccan tend to spend a lot of money in grooming and cosmetic products. Furthermore, according to the authors «Gillette is currently distributed at a number of locations, from small trade store, to large ones. With the value- add of Argan oil, it would be most beneficial to initially introduce this product in venues that support the concept of being high class, successful, and modern.»(Blank et al, 2010).

Chapter Three: Methodology

Literature Review

I used the internet to do research for the articles that I talked about in the literature review to gather information. I utilized Google andBing as motors of search. My search parameters were as follows:Argan oil, Argan oil production, Types of Argan oil, benefits of Argan oil, Argan oil marketing, Argan oil cooperatives, Argan oil market and business plan for Argan oil. For any Google articles I found, I primarily judged them as reliable if they came from reputable sources, such as websites ended with .org or .edu. I also did basic Google searches to gather more information about the authors of these articles. Typically, I entered the author's name and/or the article name or institution name he/she is affiliated with.The main limitation of the literature review is that there are not many detailed case studies and research papers on Argan oil.

Survey/Data Collection

In order to better understand the American cosmetic market and the customers chopping preferences, I did a short survey. I invited people to answer 9 direct questions. The goal of this survey was getting 100 participants. I specifically, targeted young people, especially ladies under 50 years. I interviewed most people in the Northgate Plaza in Revere Massachusetts in front of the cosmetic store Sally Beauty. And near of CVS in Lynn, MA. The questions in the one-minute survey, were simple and direct. I used only quantitative questions, in order to get effective results and also to make it easy for the respondents. It took me (about 10 hours) in three days to get 100 participants. The first day, from 10am to 1pm, the second day, from 11am to 2pm, and last day from 11am to 3pm. The first day, I just asked people who was leaving the store if they can participate in a one-minute survey. However, most of people were hesitant and refused to participate and gave some fragile justifications. I was able to get only 17 participants involved. In contrast, the second day and the third day, I brought my wife with me. I noticed that most people engaged in the survey and we reached 100 participants. (Appendix B: Copy of one-minute survey).

Questions			Total
1. Gender	Female	Male
	67	33	100
2. Have you ever heard with Argan oil?
Yes	22	13	35
No	45	20	65
3. Have you tried it?
Yes	13	5	18
No	54	28	82
4. Have you ever heard with Moroccan oil?
Yes	59	27	86
No	8	6	14
5. Will you try Pure Argan Oil?
Yes	63	27	90
No	4	6	10
6. Which one do you prefer
Online shopping?	22	30	52
Store shopping?	45	3	48

Summary of Data Collection

Demographic Data

Gender

The majority of those that were willing to complete the survey were female. As, in general women are our most likely customers this seemed like a good pool of responses.

Have you ever heard of Argan Oil?

Have you ever tried Argan Oil before?

Chapter Five: Data Analysis

According to the survey's result, most people don't know Argan oil, around 67% in the women and 60% in the men population. In addition, only 19% of the women and 15% of the men interviewed, claim that they tried the oil before. However, more than 80% of both sexes recognize Moroccan oil. Furthermore, about 90% of interviewed people are ready to try Pure Argan Oil in the future.

The second part of the survey was testing the customer's shopping preferences between online shopping and the traditional shopping. The survey shows that there is a contrast between men data and women data. The women data shows that most women still prefer the traditional shopping module more than 67%. However, the male data shows that more than 90% of the men prefer the online shopping.

Chapter Six: Feasibility Study

In order to test the viability of our venture in the reality, a feasibility study seems to be a mandatory thing. A viable venture must be realistic in the legal level as well as the economical one.

The feasibility study is a practical study, which principal goal is to evaluate the feasibility of an idea, project or a venture in the real life. It's an opportunity to identify the potential problems and difficulties that will face, this idea in the reality. It provides answers and solutions to these problems, in order to overcome all these obstacles and succeed in its mission.

Feasibility Study: Pure Argan Oil

This Feasibility Study is confidential and is the proprietary property of Insert your business name here. No reproduction of any kind or release of this document is permissible without prior written consent of Bouchair Jarir.

Company Overview:

Pure Argan oil, is a company will be created in the near future. Its main purpose will be the trade of Cosmetic Argan oil, in the US and EU. This company will be a limited liability Partnership (LLP). With three partners. one will take care of all kind of relationships with the suppliers in Morocco, the second one, will manage the European market, and I will manage the US market. Our initial goal will be a successful launching of this new product in the market. The product will be traded in first place via the ecommerce marketplace. Especially, in Amazon, eBay, and most famous social media websites. Also, the company will limit their product only to the Argan oil. However, depending on the result achieved, the company will expand its brand to other cosmetic products, and our products may find a place in most cosmetic stores' shelves.

In order to achieve these goals, a feasibility study seems necessary and a must to determine if this project will be viable or no. Also, it is an opportunity to know the possible difficulties that the company will face in the legal level as well the economic level. In addition, the feasibility study will allow us to know and study our competitors and their marketing strategies. Furthermore, a strong marketing strategy for our company appear to be a mandatory and a need, to enhance and support our new product in the market.

However, if our company failed to achieve the planned objectives, we will have the option to choose between many simple exit strategies, in order to minimize the damages. We can sell the company to a bigger company, to an individual, or just do its liquidation and simply close it.

Product/Service Description

Pure Argan oil, is a cosmetic product, will be produced directly from Argan tree. No chemicals ingredients, no preservatives, no artificial will be added, it will be 100% natural, Pure and Organic. Pure Argan Oil (PAO) will be made organically and will be cold pressed. Pure Argan Oil willbe designated to be used as a face moisturizer to prevent Wrinkles, Protect and Moisturize irritated and sensitive skin. Its anti-aging andanti-frizz product. In addition, Pure Argan oil also could be used for the hair care, to repair damaged hair and also as a hair shinier. Moreover, the oil will be used to hydrate dry skin, nourish fragile nails, and moisturizethe baby skin.

We will use dark plastic bottle, and glass bottle as well for packaging Pure Argan Oil, in order to extend the possible expiration date and give our customers enough time and the best usage of the product. Also, this kind of packaging would reduce the number of the damages products which means less expenses, therefore, this will be reflected positively in our prices.

Pure Argan Oil will be the perfect choice for natural body care, with the cheaper price in the market and with the best quality and the best after sale service.

Industry and Marketplace Analysis

The Argan oil market, is a growing market in all kind of areas and fields, and expected to reach USD 1.79 billion by 2022 in the global market, according to a new report by Grand View Research, Inc. Also the US market, is the second largest market in volume and percentage of growth after the Middle East & Africa market. It is gaining day after day new revenues and targeting new potential customers. Chart A represents the evolution of US Argan oil market revenue by type from 2012 to 2022.

Chart A. U.S. Argan oil market revenue by application, 2012-2022 (USD Million)

According to Chart 1 done by Grand View Research,Inc, the three type of Argan oil (Cosmetic, Food, Medical) are generating important revenues since 2012 and are expected to reach $ 700 Million in 2022 altogether. Also what really interest us, is the cosmetic Argan oil, which is presenting about more than 40% of the Argan oil market and expected to achieve about $ 300 Million as a revenue in 2022

In addition, the online sales in the United States are expected to reach $ 523 billion in the next four years, which is present up 56% from last year $ 335 billion, according to study done by Forrester research, Inc. Furthermore, the US cosmetic market is the largest market in the World and expected to achieve about $ 62 Billion in 2016 in revenue according to an article published by Market Research.

Pure Argan Oil, as a new product and without any doubt will face multiple challenges and opportunities as well. And as I mentioned early, that the main channel of the distribution of our product will be the e-commerce. Therefore, understanding and manipulating some keys in the online shopping became a must and a need, in order to succeed in this marketplace.

With the digital revolution and globalization, the shopping preference has changed with the time and more customers using more and more their electronic devices for shopping including computers, laptops, tablets and cellphones. According to the survey, which I did in the data presentation chapter, 33% of women prefer the online shopping than the traditional one. However, this number has reached 90% among the men, which is a huge number.

The question that comes to the minds is why people tend to prefer this kind of shopping?The answer is very simple. Imagine yourself in very nice restaurant where they give you very simple menu, the only thing you do just call the server to bring you the selected order and you pay for it when you done.

In the online shopping, the customer, in general, goes to the preferred website and enter the name of the product or service, and simple click on search. He or she will have a huge offerfrom different companies. The customer, can add the selected product to a symbolic shopping cart and proceed to checkout and pay using an electronic secured payment.

The top online websites used in USA are Amazon, eBay, Zappos, Mr. Porter, Ali Papa, Ali Express and more other websites. However, the most traditional stores in USA are using online to sell their products, such as Walmart, Target, BestBuy, Sears and more.

In Pure Argan Oil, we will focus on selling our product first in Amazon and on Facebook marketplace.In Amazon, most our future competitors are present such as Pura D'Or, Majestic Pure, Aria Starr Beauty, Insta Natural and more.

SWOT Analysis

SWOT Analysis (Strengths, Weaknesses, Opportunities and Threats) is an analysis which main goal is to identify the possible internal and external factors which can have an impact on the organization.Pure Argan Oil as all the companies in the world has internal strengths and weaknesses and could face external opportunities and threats as well.

Strengths:

The goal of identifying the strengths of our company is to maximize the benefit from these strengths and to try to make it as a strong competitive advantage.

h. More researches are being in lab every day about the importance of Argan oil in all areas;

Weaknesses:

The goal of studying the weaknesses of our company is to try to fix them andturn them to strengths points in order to compete in the market.

Opportunities:

Opportunities present the positive external effect of different factors on an organization. The Opportunities which could face Pure Argan Oil could be summarized as fellow:

a. Very huge usage of Argan oil in cosmetic, food, Medical, present a big opportunity for us to expand our brand to these area (food, medical);

c. The recovery of the international economy means the augmentation of the demand on all kind of products;

d. Online detail marketplace is the fastest growing sales channels in US ( more than 100 million Americans purchase goods from online marketplace in US;

e. The orientation of Morocco to make it easy for exportation of Argan oil , new law has been implemented;

g. Recently, Facebook launches marketplace for local sellers and buyers, present also a good opportunity for our product;

Threats:

What has been said about opportunities, applied also to the threats, which could present a negative impact of different external factors, on any given organization. The possible threats that could face Pure Argan oil could be summarized as:

a. The big threat can face Pure Argan Oil is the increasing competition from other similar products;

b. The non-stabilityof the dollar value Vs Moroccan devisethreatens the net benefit and then the price;

c. The production of Argan oil in Morocco depends on the weather, then a dry season means less harvest which mean high prices;

d. The survive of our product needs more innovation and attract new potential market;

e. The threat ofslowdown of the economy, which means less demands on the products;

Marketing Strategy

Our marketing strategy would serve the main reason of existence of our product in the market, which is providing to our customers a product with high quality, excellent customer service, best after sale service, and very affordable prices

Marketing objectives

At Pure Argan Oil, our marketing Objectives will be giving a good image of our product in the eyes of our clients, in order to enhance awareness among them and develop a strong possible brand in the future. Also targeting every day, new customers to increase sales, profit and therefore the reinvestment.

Marketing Mission Statement

Our marketing mission statementat PURE ARGAN OIL,will be beauty is a treasure, and our goal is providingto our customers, a product that can keep and save this priceless treasure.

Financial objectives

Ø Generate enough revenues to cover the costs and generate profit in the first year;

Target Markets

Ø The potential target market for Pure Argan oil, is in the first class female;

Ø Especially, rich young girls and young Ladies, who are ready to pay more money for excellent staffs such as Pure Argan Oil;

Marketing Mix

Product:

Ø Pure Argan oil comes directly from Argan tree provided from Mother Nature. No chemicals ingredients, no preservatives, no silicones. Nothing artificial 100% pure and organic;

Ø Benefits for Face: Prevents Wrinkles, Minimizes Fine Lines, Protects and Moisturizes, Restores Elasticity & Texture, Reduces Redness & Irritation, Heals Imperfections, Neutralizes Free Radicals;

Ø Benefits for Hair: Repairs Split Ends, Moisturizes Dry Scalp, Restores Shine, Tames Frizz;

Ø Benefits for the Body: Rehydrates Dry Skin, Nourishes Brittle Nails, Minimizes Stretch Marks, Moisturizes Baby's Skin, Soothes Sunburn;

Price:

Ø For an example if the cost of an item of pure Argan oil ( 2 oz) is $10, and the markup is 50%, the sale price will be [(10)/(100-50)]x100= $ 20;

Ø Also as a new product in the market, the price will be under thecompetitor's prices, therefore we will play with the markup percentage or the margin;

Ø Will be different prices according to the size and according to the quantity of the product;

Place:

Ø Pure Argan oil will be found in online marketplacelike Amazon, EBay, Facebook marketplace, Avito, Ali Papa, Marocannonces

Ø Pure Argan oil will be also on smart phone apps (offer up, 5 miles, letgo, craigslist...;

Ø Three channels of distribution: (USA channel specializes for sale in US and Canada. Italy channel specializes for sale in Europe. Moroccan channel specializes for sale in Africa);

Ø Social media websites also will be used for selling and advertising the product;

Promotion:

Ø Use most social media (twitter, Instagram, google+...) to promote the product;

Ø Advertise through Amazon and most websites where the product is available for sale.

Distribution & Sales Strategy

As I mentioned early, in the marketing mix section, our first Distribution & Sale strategy will be targeting the customers via the internet. All online users are a potential target for our product. Furthermore, Amazon will be our first and main distribution channel in USA. In order to understand, how Amazon works? I attended a seminary about How to make Money Selling on Amazon training in Peabody ma on October, 21 2016. (A copy of the invitation email is below)

Hi Bouchaib,

Today is the day!

Your seat is reserved at our «How to Make Money Selling on Amazon & the Internet» training event.

Just a reminder, registration starts 30 minutes prior to the start of the event. We recommend arriving early to secure yourself the best seat!

Your reservation is for the location listed below:

Date: Friday, October 21st
Time: 12:00pm
Hotel: Holiday Inn Peabody
1 Newbury St.
Peabody, MA 01960

P.S. If you have any questions about your registration, please contact us at 1 (800) 554-8495 or by emailChris@FBAStores.com

Amazon is one of the biggest distribution channels in the online marketplaces in the world. Users can directly buy their items from Amazon, third party or sell their products.

Ø Create an account on Amazon central seller under the name of Pure Argan Oil ;

Ø List the items we're selling on Amazon. Whether they're already being sold on Amazon or are new products;

Ø When someone places an order for our stuff, Amazon will let us know. We can work out the delivery details through Amazon, or make arrangements with a courier service on our own.

Ø Based on what we've sold, Amazon will make regular direct deposits to our bank account.

In addition, Pure Argan Oil would be advertised in Amazon through two ways. The Amazon Marketplace (a cost per acquisition marketing program), Amazon Product Ads (a cost per click marketing program). Google ads, also will be used in advertising the product, and without ignoring the social media websites which provide an accurate and effective big opportunity to target a huge number of young people, in a short time (Facebook, Instagram, YouTube...).

Operations Plan

Pure Argan Oil will be produced in Morocco, our principalsuppliers will be YOURGAN SARL andGIE TARGANINE. YOURGAN is a Moroccan company with limited liability and specializes in the cosmetic sector. And GIE TARGANINE which is an association of six cooperative of production of Argan oil (Taitmatine, Targante, Touderte, Ajedigue, Tagmate, Tamaynoute.). Both of the suppliers are certified of selling Pure and organic Argan oil, with international certifications (USDA ORGANIC, ECOCERT).

The product will be cold pressed according to the international production standards, as I mentioned in the introduction section.

The supplier after the production process, proceed to the bottling of the oil, according to the orders, in different sizes of bottles. After this step, the supplier moves to the labelling process with Pure Argan Oil logo.

The Order:

After negotiations and get accord with the supplier on the price and the command. The order, allows us to manage our inventory.

The Delivery:

Ø From the supplier to our storage location in Casablanca, Morocco. And after that, our partner will take care of the delivery to the US and Italy via (FEDEX, DHL).

Ø Direct delivery, from the supplier to our storage location in the US and Italy, with the payment of extra charge on the delivery.

The storage:

Ø Amazon FBA: we can store our product in Amazon's fulfillment centers, and Amazon will pick, pack, and ships, and provides customer service for the product.

The storage should respect some conditions (light, air, temperature), in order to extend the expiration date.

After the sale has been effected, the product will be delivered to the customer, with the right order, and the best possible timing, according to the customer's delivery preference.

Development Plan

The development plan is an important step in the feasibility study. After discussing the idea of creating this company with the copartners. And after studying the market strategy, SWOT analysis, distribution & sale strategy, the operations plan and discussing the prices and other deals with the suppliers. It is time to talk about the current position of our company at the legal level as well as the financial level.

Legal level:

The company will be created in Morocco, as a limited liability company, as was planned in the beginning of 2017. The first step in the creation, consist of getting a negative certificate from RCI (regional center of investment) in Casablanca, and more other document (Fiscal ID, Registration of commerce number, Social security number...) and paying multiple kind of taxes. The total process of creation takes about 24H to one week. Also the company must open a bank account with a minimum deposit of one thousand USD.

Financial level:

The estimated cost of creation the company, from my experience of five years working as accountant in Morocco between 2005 to 2009 especially in companies creations, is around Two to Three thousand USD including the bank deposit of $1,000.00.

Beside the creations fees, we can add the cost of materials (3 laptops and offices accessories) which will cost also around $3,000.00. Knowing that, all the partners will use their cellphones and their locals in the beginning of the company. The total estimated cost of the creation of the company and office accessories will be around five to six Thousand USD.

Management Team

As I mentioned early, the company will be founded and owned with three co-partners, Bouchaib Jarir, Adil Fennan, and Ibrahim Izarazen , with 33.33% for each one.

Bouchaib Jarir (myself) co-partner with a master degree from Cambridge College. I have a five year working as an accountant for different companies in Morocco. And about seven years working in retail as a store manager in the US. I will manage all kind of the relationships with the customers and their inquiries. In addition, I will manage also the advertising of our product in the US market.

Ibrahim Izarazen, holds a Bachelor Degree from Hassan II University in Business in Morocco. And has more than 10 years as experience working as an accountant and was promoted to financial director in a big company GOCOM in Morocco. Ibrahim will manage the relationships with suppliers in Morocco. And manage all kind of deliveries from Morocco to the US and to the Italy. Also, he will be responsible for looking for new potential customers in Morocco.

The third copartner is Adil Fennan, who has a bachelor degree in English education from Hassan II University in Morocco. Adil has immigrated to the Italy ten years ago. He developed some personal business there. Adil, will manage all relationships with customers in UE market.

Exit Strategy

The expected exit strategy will be determined according to the volume of our company at the closing time. If the annual of the company's revenue is under $100,000.00, the expected exit strategy will be simple and easy to practice, as long as we wouldn't have a lot of equipment and inventory.If our company failed to generate enough benefits and achieve the planned objectives, the main and first exit strategy will be to liquidate the company and close it. We can return the rest of the inventory to the suppliers, close the bank account, close all the online selling accounts and do the legal closing procedures for the company in Morocco.

If the annual revenue is bigger than $ 100 thousands, the expected exit strategy will be sell it to another company or another third party. And the rest ofthe sale revenue will be shared by the partners, after paying all the receivables accounts.

Financial Plan

The financial plan is a statement where we can use to manage the current financial data for the company and predict the future cash flows and assets values. The financial plan helps us to determine the right financial strategy and the right amount of reinvested capital, in order to avoid all kind of rupture in cashes and working capital.

The predicted financial plan below is presenting my prevision for the expected sales and expenses for the first three years and present only my part which is the US market.

The expected financial plan is based on the prices of our principal supplier Yourgan, and more precisely based on the sale of DR50A Organic Argan oil drop bottle 50 ml 12 $ .

Summarize estimates made in previous sections:	First Year	Second Year	ThirdYear
A. Annual unit sales:	3,600	5,000	7,000
B. Price per unit:	12	12	12
C. Variable cost per unit (production and sales):	3	3	3
D. Fixed costs per unit (admin, production, and sales):	6*3,600 =21,600	6*5,000 =30,000	6*7,000 =42,000
E. One-time start-up costs (equipment, marketing, legal, etc.):	5,000	0	0
F. Working capital rqd (receivables, inventory, etc.):	6,000	7,000	8,000

Calculate estimated annual gross revenues and income:
G. Estimated annual revenues (A*B):	43,200	60,000	84,000
H. Estimated annual variable costs (A*C):	10,800	15,000	21,000
I. Estimated annual contribution margin (G-H-D):	10,800	15,000	21,000

Calculate break-even figures:
J. Contribution margin per unit (B-C):	9	9	9
K. Annual break-even quantity (D/J):	2,400	3,333	4,667
L. Ratio of break-even to expected quantities (K/A):	66.67%	66.66%	66.67%

Estimate the money you will initially need to start your business:
M. Total up-front funds required (E+F):	11,000	7,000	8,000
N. Additional units to cover up-front funds (M/J):	1,222	778	889
O. Break-even quantity with up-front funds (K+N):	3,622	4,111	5,556

Calculate financial performance figures:
P. Payback period for startup funds (M/I):	1.02	0.47	0.38
Q. Annual return on start-up investment (I/M):	0.98	2.14	2.62
R. Variable cost to price ratio (C/B):	25%	25%	25%
S. Contribution margin ratio (I/G):	25%	25%	25%

· The estimated annual margin for the first year is $10,800; $15,000 for the second year and $21,000 for the third year.

· The fixed cost per unit, which I determined with $6 include the purchase price $ 3.4 plus $2.6 per unit will cover the payroll, the Amazon center seller fee and other management fees. However, the expected variable cost is $3 per unit and will cover advertisement, delivery fees and the refund fees.

· The sale price will be $12 for DR50A Organic Argan oil drop bottle 50 ml, which give only a $ 3 of benefit representing only 25% from the sale price.

Even though, these numbers don't look attractive enough for a third party, but for me it is more than attractive, it is more than promising numbers knowing that our goal in the first three years just find a way in the market and attract the most possible number of customers.

The startup cash will be $15,000 which present the company creation fee as well as office suppliers and working capital.

The startup amount will be divided on the three partners, and my contribution will be $5,000 from my saving funds.

The expected inventory will be 900 unit, which will cover three month of sale ($3,060)

Chapter Six: Conclusions

Starting a business, it is a big challenge for me, for my partners and probablyfor anyone else in the world. No matter what size it is? Or what type it is? The succeed contractor must have a good foreknowledge of the area where he is intending to invest, best foreknowledge of the sector or the branch where his business is belong. The contractor must perform a study of the market andthe possible future competitorsbefore launching the product in the market.

In this modest work, I tried to answer a fundamental question which is, if a project of selling a new cosmetic product named as Pure Argan Oil, will be viable or no?

To answer this question, I did a feasibility study, in which I did an analysis of the product, industry marketplace, SWOT analysis, market analysis, marketing strategies, marketing mix, operations plan, development plan, financial plan and exit strategy. This study gave me a good, obvious and clear picture of the challenges and the opportunities that our product will face in the market. In addition, according to the obtained data of this feasibility study, I learned that this venture will be more viable if we just focused on the US market in the first three years. Furthermore, after discussing with many suppliers in Morocco, I got another conclusion that there is no need of a partner in Morocco, all transactions, and relationships with suppliers could be managed throughthe internet or by phone. The orders will be done online; the suppliers will engage to deliver the order to the desired location with an extra charge.

As a conclusion, this feasibility study showed me that this venture will be viable and very profitable if it was good managed. Also,I have two options, continue the company with the two other partners or start the business as a sole proprietor. However, no matter what decision I will make of creating the company by myself or with partners, the starting time will be in the near future, mostly in February 2017.

Chapter Six: Statement of Learning

Doing this ILP was very important for me. I was able to improve many skills and discover new ones. I was always shy and scared to talk in front of people, because of my accent, seen that English is my third language. However, doing the one-minute survey about Argan oil, it was really a challenge for me. It helped me to become more confident of my communication skills. In addition, I also developed many other skills such as research skills, writing skills, marketing skills and more.

This ILP was a chance for me to do a research on the Argan oil production and on the cosmetic sector in general, which I had no idea on it before. Furthermore, I was able to study more on the digital marketing and the ecommerce. This ILP changed my view of many things, and the way of seeing other things.

I realized that the ecommerce has a big future. People getting reach very fast by doing business on the ecommerce. This ILP gave a chance to attend an Amazon training on, how to sell on Amazon? This seminar or training was very helpful and practical. I learnt how easy is doing a business on Amazon.

This ILP provided me, new ideas and new ways of thinking about doing business in the digital market and the best use of social media in order to achieve this goal.

References

Argan Oil Market Analysis By Application (Cosmetics, Food & Medical) And Segment Forecasts To 2022. http://www.grandviewresearch.com/industry-analysis/argan-oil-market

Dossa, Z. (2011). Cooperatives: A Development Strategy? An Analysis of Argan Oil Cooperatives in Southwest Morocco. European Research Institute on Cooperative and Social Enterprises. Retrieved online September 11, 2016 from http://www.euricse.eu/wp-content/uploads/2015/03/1331560843_n1986.pdf

Lybbert, T. J., Aboudrare, A., Chaloud, D., Magan, N. & Nash, N. (23 August, 2011). Booming markets for Moroccan argan oil appear to benefit some rural households while threaten the endemic argan forest. Proceedings of the National Academy of Sciences. Retrieved online November 15, 2016 from https://www.epa.gov/sites/production/files/2014-04/documents/morocco_econ_published.pdf

Moussouris, Y. & Pierce, A. (November/December, 2000). Biodiversity links to cultural identity in southwest Morocco: The situation, the problems and proposed solutions. Arid Lands Newsletter. No. 48. Retrieved September 11, 2016 from http://cals.arizona.edu/oals/ALN/aln48/moussouris&pierce.html

Nill, D. & Worner, B. (Editor). (2007). People, Food and Biodiversity: Sustainable management of resources in agriculture. Issue Paper Series published by The: «» Federal Ministry of Economic Cooperation and Development. Germany. Retrieved online December 4, 2016 fromhttps://www.giz.de/expertise/downloads/giz2014-en-argan.pdf

Omari, S. & Elkandoussi, F. (June, 2013). The marketing of women's Argan Cooperatives. Challenges and Opportunities. International Journal of Business and Social Science. Vol 4(6). Retrieved online November 15, 2016 from http://ijbssnet.com/journals/Vol_4_No_6_June_2013/14.pdf

Appendix A: One Minute Survey

Resume

Updated and maintained accounting journals, ledgers, and other records detailing financial business transactions.Performed a variety of general accounting support tasks.

Prepared and reviewed general account reconciliations, accruals, and other necessary adjusting journals. Prepared payrolls for all colleagues. Performed a variety of general account support tasks.

Prepared and reviewed accounting journals, ledgers, and other records detailing financial business transactions.Prepared payrolls for all colleagues.Performed a variety of general accounting support tasks.

Hospitality Training Program v- Four weeks of classroom instruction including customer service training, vocational ESL, orientation to the hotel industry, and computer training.

Fluent in English, Arabic and French. Experienced in customer service. Communication and problem solving skills. Accounting and office management skilled.

Feasibility study: pure argan oil

Abstract

Acknowledgements

Chapter One: Introduction

History of Argan Oil

Types and Uses of Argan Oil

Culinary Use

Cosmetic Use

Potential Medical Benefits

Production of Argan Oil

Traditional Method of Extraction

Figure 1A and 1B Sorting and Grinding of Argan Fruit

Cold Pressing Method

Benefits of Pure Argan Oil

Summary

Chapter Two: Literature Review

Introduction of Argan Oil

Production of Argan Oil

Hand-pressed Argan Oil

Mechanically-pressed Argan Oil

Cooperatives: A Development Strategy

Argan Oil: Benefits and Threats to Population

Therapeutic Properties of Argan Oil

Cancer Chemo Protective Effects

Prevention of Obesity and Adverse Cardiovascular Outcomes

Influence on Thyroid Hormone Profile

Anti-diabetic Activity

Influence on the Immune System

Anaphylaxis properties

Cosmetic Industry and Argan Oil

Cosmetic Market Analysis

Country Analysis & Marketing Plan

Chapter Three: Methodology

Literature Review

Survey/Data Collection

Summary of Data Collection

Demographic Data

Gender

Have you ever heard of Argan Oil?

Have you ever tried Argan Oil before?

Chapter Five: Data Analysis

Chapter Six: Feasibility Study

Feasibility Study: Pure Argan Oil

Company Overview:

Product/Service Description

Industry and Marketplace Analysis

Chart A. U.S. Argan oil market revenue by application, 2012-2022 (USD Million)

SWOT Analysis

Strengths:

Weaknesses:

Opportunities:

Threats:

Marketing Strategy

Marketing objectives

Marketing Mission Statement

Financial objectives

Target Markets

Marketing Mix

Product:

Price:

Place:

Promotion:

Distribution & Sales Strategy

Operations Plan

The Order:

The Delivery:

The storage:

Development Plan

Legal level:

Financial level:

Management Team

Exit Strategy

Financial Plan

Chapter Six: Conclusions

Chapter Six: Statement of Learning

References

Appendix A: One Minute Survey

Resume

Chapter Two: Literature Revie w