Market Segmentation of Skin Care Products

The definition of true beauty continues to evolve as generations pass and new ones emerge. Ulta Beauty, a popular cosmetic store, sells products with the aim to make women feel confident in their skin. Their use of advertisements helps spread the word about new, improved product lines and reach out to potential buyers. Selling makeup is the obvious goal of a cosmetic store, but the kind of consumers they attract and how varies between different franchises. When a company displays their products in one shot instead of in a commercial, the task of conveying the message becomes harder. Ulta Beauty persuades women to purchase their products by pointing out buyers’ insecurities while still appearing to promote empowering feminist values.

Neutrogena products in the United Kingdom should support their campaign on the usage of anti-aging products, and this should let them change their design on the product’s package to meet the demands from their consumers. As time goes on the demand from the consumers change and so do their competitors. This means that the personal selling should have in place a way of getting data from wholesalers, consumers, and the retailers. This makes the personal selling a connection of agents that can make their way around every avenue as soon as the original market develops into a success.

If Neutrogena decides to adopt this proposal, it will require high investment in research and development to ensure that its beauty devices truly meet the different needs of a variety of skin types. This will be feasible for a subsidiary like Neutrogena with a parent company that has strong research and development facilities. According to Euromonitor (2014), Johnson & Johnson spent US$7.7 billion on research and development in 2012 – a value that constitutes 11% of its sales. Neutrogena faces the inevitable risk of poor performance of these newly developed products in the market and therefore, having its resources wasted on product development costs. Yet, research and development to provide concrete evidence of the efficacy of these beauty devices will nonetheless be the way to go. Tyrimou (2015) explains that as the number of beauty devices available on the market rises, the success of devices become heavily dependent on whether marketing activities effectively explain the technology behind their ‘high-efficacy claims’ (para. 7). To compete in this market, consumers must be convinced of the scientific basis behind claims of effectiveness and investing in research and development, which has been proven feasible for Neutrogena, will do just

Considering these environmental trends and cultural differences into account, positioning Yue Sai as a provider of “delicate luxury cosmetics for mature Chinese women” under the LCD of L’Oreal, is the ideal choice. It will help L’Oreal establish a sustainable and profitable presence in a Chinese market segment inaccessible by its other sub-brands.

The cultures of those countries are also similar to the Thai culture and the slogan “products that are developed and formulated especially for Asian women” will also appeal to those women. When penetrating international markets Mistine will face the following difficulties:

In conclusion I found that by producing the product I was able to help several consumers with skin blemishing and aging problems. Many consumers continue to live with their skin unhealthy due to high costs of several different products. Now consumers are grateful to make a choice from a product that will have the same quality and effect but at a lower price in the market world.

In order to market the product into the market successfully, marketers need to have some marketing strategy to enter the desired market and make profit. Market segmentation is the process of dividing a market into subsets of consumers with common needs or characteristics (Schiffman et al., 2011). Understanding the market size and segmentation is valuable, but the keys to effective targeting is to know just how valuable specific consumer groups are, and being able to quantify the impact of consumer trends ( Berry, 1999).

There is a famous saying that ‘cosmetics are not selling product but beauty.’ Therefore, it is important to keep planning and developing product to meet the needs of customers who pursue beauty. In line

What is Market Segmentation? According to Investopedia (n.d), market segmentation is a term used in marketing that refers to the aggregating of a potential buyer into groups, or segments, that share common needs and would respond similarly to a particular action in marketing. By utilizing market segmentation it enables Victoria’s Secret to target different categories of consumers who recognize the full value of certain products and services differently from one another. Furthermore, market segmentation is an extension of market research for the purposes of identifying targeted groups of consumers in order to tailor products and branding in a way that it is attractive to that group. There are three general criteria used to identify different market segments: homogeneity, distinction and reaction (Investopedia, n.d).

As every customer has unique needs and expectations towards certain products, the ultimate goal of market segmentation is to organize customers into groups which allows targeting of customers with similar needs of and response to the products. The key is to minimize differentiation within each segment

We aim to provide Australian and foreign consumers with the highest quality skincare on the market while promoting sustainable behavior and reducing our ecological footprint.

The beauty industry continues to trend upwards despite recent years’ economic situation. Consumers are still embracing the beauty industry and are predicted to increase their spending in the 2011. According to 2011 studies the beauty industry has shown an increase of about 11 percent in dollar sales from 2010 to the end of 2011. See Exhibit B in the appendix section for prestige beauty growth by country: 2011 vs. 2010. The U.S., U.K, and China had the most robust sales period in 2011 in the prestige beauty category.

Market segmentation is an approach used by a company to select their target market and provide data for a marketing plan. “Market segmentation consist of a two-step process; naming broad product markets and segmenting these broad products-markets in order to select target markets and develop suitable marketing mixes” (Perreault, Cannon, & McCarthy, 2014, p.97). There are 4 categories pertaining to market segmentation; behavioral, geographic, demographic, and behavioral.

‘Market segmentation represents an effort to identify and catergorise groups of customers and countries according to common characteristics’ (Keegan and Green 2016, p.228). For any business, it is crucial that they segment their market accordingly or they will risk forgoing sales opportunities. Fahy and Jobber (2015) identify the objective of market segmentation as distinguishing groups of customers with similar requirements so

Many cosmetic brands are popping up recently, perhaps, due to the increasing consumers of products that beautify and enhance the physical appearance of a person. Even though the market is already full of the said cosmetic brands, the company L’Oreal Groups could still be considered as the leading supplier of cosmetics and hair-color. This study is a brief overview of the marketing concepts and strategy of the said company. The company profile will be presented to be able to give a clear view of the market to which the company belongs to. An internal and external (SWOT) analysis of the company will also be provided in this paper. Another area will be specifically devoted to