The beauty industry
Introduction
There has been a considerable rise in the interest shown to the beauty industry by many investors. The thriving and development are seen in the industry have been due to the availability of a vast market. The beauty industry has many products, as there are many different needs from the users. Going into this area of business, we will focus on the beauty products that will aid in better toning and repairing the skin. The creams and the products from the company will be aimed at better application and restoration of the users’ skin throughout the year. The role of the oils and products will be preventing the skin from changing climatic conditions such as the hot summer weather and the chilly weather during the winter. The focus on the effects of these two extremes will give a product that will be suitable for use throughout the year with similar results at all times of use.
- Feedback
From the marketing plan, the feedback received indicated a positive response and also an appreciation from the targeted market about the product. The product to be introduced received better feedback as many of the target population showed a better appreciation of the product with them, claiming it will be better positioned (Kim & Han, 2018). The role and the advantages of the products were attracting the target population as they require such a product. In the market, the products that are available demand the changing between the products as there lacks a single product that can be used in all the seasons. The positioning and also the benefits of the product, as compared to the products available, will make it the market favorite and command a large share of the market for beauty products.
The feedback obtained from the marketing plan indicates a better appreciation by the users and also a liking to the product, which suggests that the product will be welcome at the market. The comparison and even the users’ demands are also taken care of, and the product has addressed all the areas that can lead to poor market performance. The feedback also indicated a better performance index for the proposed product due to the intended use and also the importance of such a product in the market. It also showed that the rising needs of such products could be used by the people throughout the year, irrespective of the season, without changing the products. This made the target population make positive feedback in regards to the product. Those with negative feedback claimed there was saturation in the market for similar products. This, they argued, led to the production of substandard quality goods by the producers despite them fronting for better quality goods during the development period. This made the targeted users have trust issues with new products (Kim & Han, 2018). Others claimed that they had products that already suited their skins and also their needs; thus, they felt that the product would be just another addition to the market that already has other similar products, that are aimed at the same benefits. Others claimed that the products were new; thus, they had their preservations on using them due to them fearing having adverse effects on them.
- Branding strategy
Many strategies of branding can be used to add value to a company and create brand equity. These strategies are dependent on the different audiences that are targeted, the marketing campaigns to be used, and also the budget that is used by the company. To be able to create a brand that will be well received, the branding of the products will need to be well developed to ensure that the brand will have better equity and that it will solidify its market place and make it a brand that is well known and established (Barak-Brandes & Lachover, 2015). The company will make use of multiple strategies of marketing and branding to increase how successful the campaign will be.
- Name branding
The branding strategy that will be used on the product needs to be exciting and also that can attract the users. The branding of the product will consider the users and even their needs. The product will be focusing on the people that are conscious about their skins and also who are aware of the need for taking care of their skins (Barak-Brandes & Lachover, 2015). This will make the name of the product need to be something that will interest the users and also attract them, while still sticking in their minds. The best title for the product will be FEEL GOOD, STAY GOOD oils, and creams. This will be the reason that the users will need to maintain their skins, and a well-maintained skin makes the individuals to feel good and also have increased their confidence.
- Logo
The logo of the products and the company will need to be entertaining and unique, yet something that will stick in the minds of the users. It also needs to be one that will create an interest in the target populations to make them get to buy and use the products. From the name of the organization, Feel Good, Stay Good, the logo will have the Letter S superimposed on the letter F and then the letter G being golden and after the superimposing, and they will be in 3d to make them more appealing to the users.
- Slogan
The name of the company will also act as the slogan as it will ensure that the users stay good and feel good about themselves and their skin. The products will be used to create a new level of confidence for the users and the repairing of their skins to look more ambient and attractive throughout the year (Barak-Brandes & Lachover, 2015). The slogan will be to encourage beauty enthusiasts to try out the products as they will be attracted to the products that will be created to care about their skins and bodies.
- Brand extension
The aspect of brand extension is done when an organization or a flagship venture goes into another new area. For instance, the brand that is being introduced will be aimed at producing beauty products, and also it will aim at introducing its dressing label and its hair products to be used by the users (Barak-Brandes & Lachover, 2015). The inclusion of the products in the line of the production will help in diversifying and solidifying the position of the company and its products in the market.
- Target markets
In business, the target population, also known as the target audience, refers to the whole market that is targeted, and that makes the potential customers of the business that is to be started. The location of a commodity or a product can be located, demographically, in one area or spread over a large area (Astuti & Oktisyafyeni, 2018). Knowing the geographical location and also the distribution of the customers in the regions play a huge role and is of importance to an organization and how they do their marketing and also their strategies and positioning in the market. The market population can be divided into two, the primary market and the secondary market.
- Primary market
The primary market offers the company and products a chance to be introduced to the market. The primary market is more aligned to the companies and organizations that need to add new products and enable the growth of the capital for these products so that they can make a better investment. Using the primary market helps the companies to make investments and also get avenues from which they can raise their money directly and also get a chance to expand (Astuti & Oktisyafyeni, 2018). The available primary market for the products will help in creating funds for better marketing and also the development of the products. The use of the central market will help the investors directly buy the shares and make investments in the company and the product directly from the sellers.
Locally, the primary market that will be targeted will be the local users of the products. The target gender will mostly be females as they are more aware of and take care of their skin than the men do. This will make the products have more female appeal to entice the ladies into using them. This will also make the business extension for the company lean more towards the ladies than to the men. The target population’s age will not be limited as the products created will be for use by people of all ages.
- Secondary market
This market offers traders the ability to trade with the previously issued securities without involving the owners. In the business, the secondary target will mostly be the wholesalers who will take the role of distributing the products to most parts of the areas that are targeted by the company on the product (Astuti & Oktisyafyeni, 2018). The target will include all the people who can use the products such as promoters and the beauty houses that can make use of the products on their models and their programs.
- Positioning statement
The positioning statement’s role is to fill the consumers’ needs in a better way than competitors. The purpose of the positioning is to identify a market niche that is appropriate for a good or a service and making it be established in that sector. Creating a strong positioning statement will help in better marketing and also making the products more appreciated and accepted in the market. A weak positioning statement will make the new products lack a competing advantage and front against the other companies and products (Astuti & Oktisyafyeni, 2018). The company will need a reliable and secure positioning statement that will be attractive to the consumers and leave a strong and memorable impression in the minds of the markets. For the products and the company, the best positioning statement will be The best in the Care of Your Skin Throughout the Year. This will make the consumers have an interest in the products and also want to try it in caring for and repairing their skin. The positioning statement will also help in the company’s better exposure to the products that are being made. The statement will also be used as a way of marketing the products as it will indicate the products the company is dealing with, which is the beauty products.
- Consumer behavior
The term consumer behavior is used to relate to how the activities and the preference to make a purchase are carried out by the consumers. The study of consumer behavior, purchasing power, patterns, use, and other aspects, such as how often they can make a purchase or advise others to make a purchase, will help the company determine how to position the products and how to market the products. It will also help understand the market forces affecting the product (Astuti & Oktisyafyeni, 2018). The study of consumer behavior will help the company better positioning the products and also better marketing and help in choosing marketing strategies that will better suit the customers and their behaviors. The results from the customer behavior study will help the customer know what kind of customers they will experience in the market and their buying patterns and even their preferences. The study will help the company to understand all the aspects of the customers’ behaviors, starting with the pre-purchase activities and the purchase decisions. Also, the post-purchase activities use, and also feedback (Astuti & Oktisyafyeni, 2018). It will also focus on the evaluation of the customers’ success and the impression of the products and the disposal activities after use.
The role played in the study of the consumers’ behavior will help the company in realizing how the product will be received and how it will fare in the market. The study will also give the company better ways of positioning the product to beat the competition and also the ways they can cement the place and the market role of the product to beat the competition from the other products that are produced by organizations and companies that are already established (Yoo & Kim, 2010). The study will also help in better understanding the needs of the users. By studying the buying power and the buying patterns, all in the consumer behavior, the company will be able to establish the financial position of the consumers and also the way to price their products better to ensure they are affordable and within the budget range of the consumers (Yoo & Kim, 2010). This will help avoid overpricing the products, which will make the consumers unable to purchase, or even underpricing, which will make them scared and question the quality.
References
Astuti, A. Y., & Oktisyafyeni, F. (2018). The Influence of Marketing Statements Found in Women’s Cosmetic Products to Their Mindset in Determining the Definition of Beauty. Jurnal Ilmiah Langue and Parole, 1(2), 17–25. https://doi.org/10.36057/jilp.v1i2.157
Barak-Brandes, S., & Lachover, E. (2015). Branding Relations: Mother-Daughter Discourse on Beauty and Body in an Israeli Campaign by Dove. Communication, Culture & Critique, 9(3), 379–394. https://doi.org/10.1111/cccr.12111
Kim, K. J., & Han, H. S. (2018). Marketing Strategies and Consumer Recognition of Medical Cosmetics. Asian Journal of Beauty and Cosmetology, 16(4), 569–578. https://doi.org/10.20402/ajbc.2018.0254
Yoo, J.-J., & Kim, H.-Y. (2010). Use of Beauty Products among U.S. Adolescents: An Exploration of Media Influence. Journal of Global Fashion Marketing, 1(3), 172–181. https://doi.org/10.1080/20932685.2010.10593069