Flare Fragrances

3557 Words15 Pages
Flare Fragrances Company, Inc . Final Authentic Assessment Analyzing Growth Opportunities MRKT 495 Flare Fragrances Company, Inc . Final Authentic Assessment Analyzing Growth Opportunities MRKT 495 TABLE OF CONTENTS SUBJECT PAGE(S) History 1-2 Executive Summary 2-3 Statement of challenge 3 Evidence Supporting the Challenge 3-4 Analysis of Current Situation 5-6 SWOT Conclusion 6 Competitive Analysis Conclusion 6-7 Current Marketing Mix 7-8 Conclusion from Analysis of Current Situation 8 Alternative Strategic Solutions (1-4) 8-10 Recommendation of Alternative Strategic Solution 11 Putting it All Together 11-12 Bibliography…show more content…
Flare’s sales come from its six fragrance lines equating for 93% of all sales with 7% coming from line extension products such as soaps, shower gels and gift sets. Since 1996 Flare has launched a new scent every two to three years, as we near 2009 it is time to make a decision if we are ready for a new launch. In 2006 we positioned ourselves in the young and chic category with the launch of Natural. Savvy is our fragrance ready for launch, its scent has been seen as stylish, upbeat and classy and has been geared towards the 18-34 age group. The projected sales price is $40.00 with a launch in the mid-tier brand category. The questions are do we position it in the young and chic category or do we enter into a new position such as young and classic. In addition, if we do launch this product do we umbrella it under Loveliest or do an independent launch and create a new brand. In addition, is a Mother’s Day launch obtainable? Our Second issue is whether to enter into the Drug Store channel. Our current channels are department stores both premium and mid-tier, we have stake in privately owned pharmacies and have positioned ourselves in the mass market to include stores like J.C. Penny’s, Target, Kohl’s and Wal-Mart. Chain Drug Stores are the one channel we have yet to hit with full force, perhaps it is time. In most circumstances, Drug Store channels prefer to sell only Flare’s highest turnover items, which could ideally damage relationships with
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