Marketing Plan for Chanel N5 Perfume

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Executive Summary Chanel No.5 is one of the most popular perfume products on the market. The Chanel N5 has a constant mission to accomplish in satisfying it customers as well as the laws. It is crucial to keep a reasonable price and maintain high quality of the perfume product. Correspondingly, whenever the cost of the product decreases, it means the quality of the product lessens, and luxury product becomes ordinary. "The word perfume derives from the Latin perfumare, meaning to smoke through. Perfume is a mixture of fragrant essential oils or aroma compounds, fixatives and solvents used to give the human body a pleasant scent “(Wikipedia). Chanel N5 is one of the most popular out of the company perfumes. It dominates the market since…show more content…
Competitive environment The comparative analysis shows that the perfume industry has few competitors on the market. Shopper expectations for perfumes are mainly dependent on demographics and lifestyle. Some people may find it more enjoyable to wear something what they created by themselves; made their customized perfume with favorite oils based on their own desires. There are others who might go for brand names with a traditional mixture of oils that don’t change over the years. As mentioned previously, that would be an older generation of people who tend to stay with favorite fragrance. Also, more modern perfume bottles, attractive promotions, stylish icons and fashionable retail setups can draw younger generation to purchase such goods. The major competitors in today’s perfume industry are Dior, Channel, Dolce& Gabbana, and Giorgio Armani. Cultural environment Cultural environment involves society’s fundamental values, preferences, and behaviors. The best way to ensure that projected perfume will be well received is by segmenting target market by culture and then testing different fragrances. In addition to the role that scent plays within different cultures, people raised in different environments tend to have varying scent preferences. Natural environment Perfumes are being created more commonly with artificial ingredients lacking all natural oils. The synthetic product smells wonderful and lasts longer on the skin than the natural one. Natural

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