Marketing Strategy For Cosmetic Products Essay

1321 WordsNov 17, 20166 Pages
4. Marketing Strategy 4.1 Product Our target market is looking for cosmetic products that are innovative, easy to use, and last. Based on our survey, interested individuals wear lipstick regularly, have issues with the lipstick rubbing off, and have misshapen lipstick that makes it harder to apply, thus creating a problem. No Trace provides a solution to these problems that our potential customers are facing. Brand/Packaging The name No Trace alludes to the lipstick leaving no trace anywhere, except for your lips. The customer will see this from our promotional material. The lipstick and solution will come in sleek, white and gold, expensive-looking boxes, setting it apart from other lipsticks at stores like Target, Walgreens, and CVS, and allowing it to be similar to lipsticks at Sephora and Ulta. The logo will be the name No Trace in a lipstick style font, and will be in each shade of lipstick. 4.2 Positioning Our positioning is a hybrid approach. We will be competing directly with competitors that offer lip products that stay on the lips. However, the fact that our product will retain its original shape is the differentiating factor that will set us apart from the competition. 4.3 Pricing No Trace’s pricing strategy is to enter into the market as an upper-medium priced product. Our three main competitors that hold the most market share, Estee Lauder, Procter and Gamble, and L’Oreal are all placed in different price levels; medium-high, medium, low-medium. No
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