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. [...]
[...] Maybelline has a market share that accounts for of the make-up mass market in Belgium. The positioning of Maybelline lies on three principles: innovation, accessibility and New York. Moreover, the brand mission statement is: make each woman feel unique and confident”. The products of Maybelline are divided into four categories: face, eyes, lips, and nails. The ‘face' products are mainly face powders. The ‘eyes' products contain different types of eye lash and the ‘lips' products are lipsticks. Finally, the ‘nails' products are nails polish. [...]
[...] Therefore, it might be a specific price for the country and consequently it might have some differences between the countries The place We will sell our product in the same places where Maybelline is already selling its cosmetic products, because people already know the brand, the value and also the quality of Maybelline's products The promotion In every country where we launch the new product, we will have the same strategy as in Belgium, but depending on the country, there will be some adaptations with regards to the cultural differences such as the advertising and the regulations that might differ from one country to another. [...]
[...] 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. [...]
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