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
While beauty is not limited to social media and online authority but has started from the ground up in stores such as Claire 's and Sephora which birth new trends and encourage women to “Be Yourself”. Claires, a store generally shopped at by pre-teens, has began created light BB & CC creams for sheer to light coverage. In Claire 's there are less than 2 Deep complexion shades for these young pre-teens… With the simple act of secluding African and African American teens from shopping at Claire 's diminishes their confidence in their skin from such a young age. With in-store technology advancing the precise matching of skin complexion Sephora has continued to break skin shade boundaries… or so we think. In a recent interview with a Sephora employee she states, “When an African American walks in looking for a complexion product the girls run away because they “can do it” (Amy). Sephora does offer a mandatory SkinIQ matching class which does show how to properly match shades (which also matches undertones). Shea Moisture (A hair and skin brand known for being African and African American promoted) created a groundbreaking commercial showing race being a divider
Ulta Beauty was found in 1990 and has become one of the largest retailer of beauty products throughout the United States. The continued focus on American- brand name products in local salons, department stores, and online has become a major feature of its massive growth through the 2000s and into the 2010s. The promotion of these multiple venues in the marketplace is based on the slogan: “All things beauty, All in one place.” This business model has provided a broad-spectrum marketing platform that utilizes multiple aspects of brick-and-mortar and online sales in the promotion of beauty products in the United States.
Professional makeup artist and founder of her own line of cosmetics Bobbi Brown once stated that she “believe[s] that all women are pretty without makeup- but with it, the right makeup can be pretty powerful.” This statement is relevant to all people and says that all women have natural beauty, but with the optional added touch of makeup, their beauty can be even further accentuated. Public figure, Kat Von D encourages women to embrace their most natural selves through her own cosmetic line. The print advertisement of Kat Von D’s “Lock-It Concealer Creme” shows women of all colors, wearing minimal makeup, probably just foundation and concealer, and embracing their natural skin color and their ethnic background with her wide array of shades for each skin shade. Makeup over the years hasn’t always catered to people embracing their natural skin. The origins of foundation makeup lead to some health risks and didn’t accept people for their natural skin tone, Kat Von D’s makeup line consists of solid, well formulated, and successful products, and the influence of social media has impacted the growth of the beauty world for all people.
Many users from YouTube gain fame because of their jaw dropping makeup skills. They perfect everything they can in the most artistic way. Their colorful eyeshadows can be seen from miles away along with their flawless porcelain skin. Unlike food and medicine herbs, makeup wasn’t created by Mother Nature. Makeup has been around since the 1600’s, each generation improving every cosmetic created. The cosmetic that people get eager to buy? The foundation. Foundation has been known for the way it covers imperfections, provides an even skin, and give the desired finished - matte or dewy. It comes in many different formulations, including liquid, cream,
Colorscience also offers it mineral foundation in a brush form. A quick brush offers great coverage and is perfect for a quick touch-up.
In this part of my assignment am going to be developing a coherent marketing mix. I think that the marketing mix should be coherent because for a product to be successful the marketing mix has to be logical, getting all the marketing mix right will determine the success or failure of the product. We decided to design and make a lipstick that will last for as long as wanted, forever even. We decided to call the product “Eva last” because like the name says, it lasts forever. The product has a built in remover at the other end of the lipstick for when you want to remove it and does not come off otherwise. It is hoped that this product will gain a target market from
different kinds of makeup they offer, and each one supposedly offers not only to enhance
The product range is focused on providing the best beauty and health products at affordable prices. You can find anything from makeup to vitamins at Superdrug. Furthermore, the company has
It creates an all natural look that willl be fitted fotr you it will benift your eye calour and hair calour and skin tone. This includes: a powdered effect or 3 dimensional hair stroke technique, which mimics the actual hair.
A body moisturizer offering a full shade of darkening skin color in no more than 3 days. It gives a color boost and contains some antioxidants. The previous models had undesirable and heavy chemical smell, but now after tweaking the formula, it smells way better. The
Currently, the business has not ventured in the cosmetic market of London and Canada. Canada and London provide an opportunity for the company to expand its market through its international entry strategy of retailing and B2C framework. The SWOT analysis of the company shows a wide range of strengths and opportunities for the company’s future success such as market gap (London and Canada), Globalization, technology and good customer relation (BBB accreditation). The company demonstrates high capability of sustenance and survival through retailing, personal selling, E-commerce, E-marketing, Fashion Collaboration and other B2B platforms.
The quest for beauty is an endless endeavour at all times. Despite the old saying cautioning us that beauty is only skin deep, billions of dollars is spent on skin care products every year for men and women, young and old alike. In this multi-million-dollar industry, every company tries hard to maximize their profit. One of the most common methods they apply is market segmentation.
The firm attempts to generate a positive response in the target market by blending these four marketing
“Makeup has been used to enhance the beauty of both men and women for over thousand years. It its through teaching others how to apply makeup, we can strive to help others feel comfortable and confident in their own skin. Wearing makeup help embrace our natural features and may also help express the ideas in a creative way like art.”
CosmoCosmetics has decided to create a new foundation make up line for African American women exclusively. We believe there is a niche for this type of business since no make up brands specialise in this target.