Creation of a new perfume for Maybelline
- Market overview
- Leading companies on the fragrance market
- Consumers' profile
- Brand analysis
- Maybelline in the perfume market
- The new perfume of Maybelline
- The communication
- Strategy over two years
The fragrance industry is a very competitive market with international players who have a global presence and huge financial means. The perfume market is not only competitive, but also very complex, crossed by strict regulations and low loyalty consumers. In this context, Maybelline, a worldwide known brand in cosmetics, will try to enter this market through the creation of a new perfume. Our study will be divided into two parts.
The first part will analyze the fragrance market in general. We will describe the global market and then, more precisely the Belgian market. The market players and the different segments that divide the market will be analyzed. Secondly, we will go deeper in the competitive landscape analysis and describe the leading companies in the market. Then, we will establish the consumers' profile for the fragrance market. We will conclude the first part with a SWOT analysis based on Maybelline's current position in the market and the analysis of two competitors, namely Clarins and Estee Lauder.
The second part deals with the creation of the new perfume and its marketing strategy to make a successful entry in the fragrance market. Thus, with the help of the thorough analysis of Maybelline and the fragrance market, we will analyze Maybelline's legitimacy, its brand positioning in the portfolio and its new brand positioning statement. Then, the study will focus on the creation of the new perfume. Before explaining the concept, we will make the segmentation, the targeting of the market and the positioning of Maybelline's new product in the market. After presenting the concept, we will describe our marketing mix and how we would communicate regarding the new perfume. Finally, we will present our midterm international strategy that is based on an action plan which is developed over two years.
[...] Secondly, as we decided to maintain the same channel of distribution than the other products of Maybelline for the new perfume, targeting the women seems a good choice. In the perfume sector, the main channel of distribution is through specialist retailers; in Belgium, the mass market is seen as a poor alternative. We think that the mass market is mostly an untapped solution which if properly utilized could lead to great revenues. Usually, the task of shopping is done by women, and consequently, the opportunity of selling our perfume through this channel is great. [...]
[...] If people pay attention to new products, they will probably buy Maybelline's new perfume and not stay loyal to the brand of their old perfume Conclusion of the SWOT analysis After analyzing every parts of the SWOT analysis, we can see that Maybelline has a lot of strengths when compared to the weaknesses and that they also have some good opportunities even if the threats cannot be neglected. The fact that Maybelline is leader in cosmetic products in mass market will help them to introduce their first perfume. [...]
[...] People who buy perfume in perfumery do it because there is a large choice of products, they can receive information from the sellers and also for the quality of the perfumes. They do not want to buy perfume in drugstores or supermarkets because they firstly find the choice too small, then, because they never thought of buying their perfume in another place than perfumery and finally they think that the quality is less Habits Most of the people have two different bottles of perfume at home and use it on a regular basis (nearly every day or every day). [...]