Introduction And Objectives Of Foundit Is A Premium Liquid Foundation Designed Under Lancome
929 WordsMar 21, 20164 Pages
Introduction and Objectives
FoundIt is a premium liquid foundation designed under Lancôme, mixed specifically for the skin tone of each individual user. FoundIt will work towards four objectives after the product launches on January 2, 2017: (1) Achieve $600,000 in sales (1.9% market share) with a maximum cannibalization of $300,000 from Lancôme’s current foundation sales, in the first 12 months. (2) Have 40% of Lancôme website visitors watch FoundIt’s informational video and 25% of visitors to click to view FoundIt’s purchase locations, in the first two months - this will be achieved by measuring Click-Through Rate (CTR) with Google Webmaster Tools. (3) Have a minimum of 50% of the initial customer base repurchase FoundIt, in the first two years. (4) Increase the number of FoundIt booths in the Sephora locations from the ten initial launch stores to all 69 Sephora locations in Canada, in the first five years.
Marketing Mix – Product
Core Benefit: Each user will buy a high-quality foundation bottle crafted to their unique skin tone. As a result, it will save both time and money that would otherwise require the user to select and blend multiple regular foundations.
Actual Product: FoundIt will come in a glass airless pump bottle with a one oz. capacity. The bottle will