Target Market Demographics Thesis

Pages: 4 (1186 words)  ·  Style: APA  ·  Bibliography Sources: ≈ 3  ·  File: .docx  ·  Level: College Senior  ·  Topic: Business

Cosmetics - Target Market

Today's economic agents strive to increase their competitive positions by developing and implementing the most adequate strategies relative to all of their categories of stakeholders, including employees, customers, purveyors, intermediaries and other governmental and non-governmental organizations, such as environmental institutions. The key to succeeding in this highly dynamic market is that of properly identifying and addressing the Target Market.

The Company

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ABC Cosmetics was established five years ago in the Kane County, Chicago Metropolitan area, Illinois, where the organization is still headquartered. The founder and chief executive officer is a former fashion model and her experiences with wearing makeup have materialized in a line of successful products, to be used by both women at home, as well as professional saloons. ABC Cosmetics employs 80 individuals, organized as follows: 10 employees in research and development, 30 employees in manufacturing, 10 administrative staff and 30 employees in sales. The company ended fiscal year 2008 with a net profit of $7 million, revealing a constantly ascendant trend. The financial crisis revealed at the international level has only limitedly impacted the economic agent in the meaning that its growth rate shrunk by 2% relative to fiscal year ended in December 2007. This is mainly because the cosmetics industry develops independently of other industries and that the demand for such products tends to remain constant despite fluctuation in economic conditions. The product lines of ABC Cosmetics include lipsticks and lip glosses, nail enamels, eye shadows, skin foundations, body milks and moisturizers.

3. The Product

TOPIC: Thesis on Target Market Demographics Assignment

After conducting intensive market research, the managerial team at ABC Cosmetics decided upon the creation and promotion of a natural product line. The research and development team was allocated a budget of $30,000 and they came up with a solution in two months. The new product line includes a moisturizing face cream, a body milk and a hand cream, all made entirely from plants, without added chemical compounds. In creating the scent of the items, the team used lavender. Based on the response received to this line, the company intends to develop additional products of diverse perfumes, such as lilies-of-the-valley or hyacinths.

The presentation of the products will be a dual one. The first strategy sees that the three items will be individually packed in cart boxes of bright colours and tasteful design. The second approach sees the packing of the tree items is a single box and the sale of the entire pack. Whenever an individual product is being purchased, the customer will pay its full price; when purchasing the three item pack, the customer will be offered a 15% discount.

In both cases, the boxes will contain information on the producer, the components used in the making of the creams and a picture of the lavender plant. The company has also come up with a logo for their new product, which is aimed to attract attention to the fact that the products are made entirely from plants - Bio Beauty and Comfort.

The bio product line is expected to generate successful outcomes due to the intense emphasis placed on the protection of the environment. Foremost, more recently, being bio has become not only a preference of the environment-friendly consumers, but also a trend. The marketing strategy in launching and placing their items onto the market will revolve around these specifications.

4. The Target Market

The new creams developed by ABC Cosmetics will be available for sale for all interested consumers. However, it necessary to identify those categories which are most likely to be interested in purchasing the items.… [END OF PREVIEW] . . . READ MORE

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