Women of all times cared greatly about their beauty. Different kinds of oils, such as fir, rosemary, (sweet) almond, and castor one were used in ancient times. Women searched for natural recipes, invented something new, and used different plants’ extracts to be beautiful. To be pretty forever is a women’s essence. Modern technologies and science development make women’s life easier. There is no need to gather plants and lay in stock their extracts, have at home a number of different oils, mix them and make other procedures that are too complicated and long. Modern women have an opportunity to go to specialized shops and buy the face cream they want. They may be sure to find the face cream that will fit their skin type and financial possibilities and the world market is full of different trademarks and creams that are able to satisfy even the most hard-to-please customer. Avlon Company has purchased a Singaporean cosmetics manufacturer who had developed a new anti-aging face cream containing bovine extracts; the product has an effect similar to Botox. The product has got the name Bolox. Prior to re-launch in the U.K. market, the company has decided that a thorough evaluation of the Bolox product needs to be undertaken and consumer acceptance needs to be evaluated; the customers’ needs and their preferences are going to be discussed in the current paper.
The Importance of the Cosmetics for Women above 35
People do not become younger and from year to year the whole organism is subjected to individual aging. Still, the aging process may be slowed down if to use the cosmetics properly. In fact, the face is the main part of people’s body that is subjected to aging and women should care greatly about it. The aging process starts at the age of 30-35 when the skin cells division is not so active. Those women who used face creams for 20 years are less subjected to aging in 30. Still, even those who look after themselves have to use anti-aging face cream when they are 35. Every anti-aging cream intensifies the mitosis and the skin looks better. Modern technologies and knowledge made it possible to research the skin aging problem and invent the decision that may help women remain young longer.
The Examination of Potential Market Size and Customer Perceptions
The previous stage was a preparation for the serious research that must be conducted prior to the decision to re-launch the new product in the country’s market. First of all, the company should know how many items of cream should be produced to satisfy the consumers’ needs, the potential market size and target segment should be researched. To create the curve of supply and demand, the company should know the size of the market, the average number of women above 35 who are able to buy the new product of the company at the expected price. The marketing research on the demand should be conducted. When the results are received, the supply and demand curve should be presented for analysis. The equilibrium point should be found, that is when the curve and supply are in balance. It should be noticed that the market forces should push things to the equilibrium point, but it is impossible to reach it. Still, we should always tend to be ideal. It is crucial to organize the work of the marketing department and logistics in such a way that the warehouses were not overladen and at the same time, there should always be extra stock. Moreover, it is important to supply the necessary quantity of the product on the country market not to allow its being in poor demand.
Prior to re-launch the new product with Bolox in the U.K. market, the company should evaluate the competence of UK women in the beauty secrets; the consumer perceptions of the product should be researched. The main idea is that there may be a segment of women who are not aware of the anti-aging properties of Botox, so they will not accept the new Bolox opportunities and the product will be unclaimed. The research should be conducted on this stage and the UK women’s awareness of the Botox properties in anti-aging cosmetics should be evaluated. This research is necessary as when the Avlon Company will re-launch its new product in the UK market, people will have to compare it with something. Knowing about the anti-aging properties of Botox and understanding the Avlon creams contain Bolox that has the same properties, they will desire to test a new product.
There are a great many different ways on how to get to know whether women are aware of the anti-aging properties of Botox or not. The company should conduct marketing research on one of the types or conduct several ones to be sure in the results: primary and secondary data collection, sampling, questionnaire, statistical data evaluation, experiments and others. When the data is collected, it should be evaluated. If the consumers are aware of the anti-aging properties of Botox, it is high time to shift to the other step of the re-launch of the new product. If the consumers know little about the anti-aging properties of Botox, the company will have to make the conclusion that when the advertising campaign is provided, it will be crucial to explain the main priorities of Bolox products use in the beauty procedures.
It is crucial to examine consumer perceptions of the Bolox brand name and package design. Avlon is a world-known cosmetics company, still, the information that it has purchased a Singaporean cosmetics manufacturer is not widespread. To make sure that the Bolox products will be in great demand, it is important to know the consumers’ attitude to the company in general and analyze the consumers’ attitude to the Bolox brand name and package design. Moreover, it is significant to know the attitude to the package design. When a new product enters the market, the consumers consider the package first, then they notice the company that produces it, analyze the ingredients and only then test it. Therefore, it is crucial for the company to know consumers’ attitudes to packages and brand names. Thus, marketing research should be conducted.
It is important to know the competing companies to be able to present the deserved rebuff to the competitors. The world of cosmetics is huge; there are a great many different companies that are different in quality and price. To find the competitors in its sphere, Avlon should conduct marketing research and point out only the companies that promote the same product, 35+ face cream and body lotion and of the same price category. Knowing these facts, the company will be able to know its target audience and to think about consumers’ leverage. Market completion is always severe and it is important to know the competitors to be prepared to conquest them. Competition is the main factor that influences the desire for development and innovation. Bolox should be only the first step on the way to combating aging. Moreover, there are a great many opportunities to use the new anti-aging technique. The eye cream, different serums and other goods may be one of the ways to expand the range of goods the company may offer.
Timing and Budget
The main costs of the project are expected when the cream will be produced. Still, the pre-production stage is also too expensive. First, the company will have to pay about $40000 per year for marketing research. The consumers’ needs in winter and in summer should be considered to understand whether the cream should be produced all year round or should be seasonal. The logistic services are the most expensive at this stage, as well as these services will be necessary further. Transportation management, logistics planning, customer-focused multi-modal logistics operations management, coordinated product packaging and loading specifications and customized Web-enabled logistics management services may be given by the qualified logistics company. The services of the logistics services will cost the company about $40000. So, the budget of direct costs of the pre-production cream stage is about $80000. The other $20000 may be spent on indirect costs. This stage will last about one year to gather the necessary information.
In conclusion, it should be noted that the ways of Bolox product needs were undertaken and consumer acceptance needs were evaluated; the customers’ needs and their preferences were discussed in the current paper. Therefore, marketing research should be conducted. Prior to re-launch a new product in the UK market, the determination of potential market size and target segment should be considered, the determination of the consumers’ perceptions of the product should be researched, it is also important to examine consumers’ perceptions of the Bolox brand name and package design and to elicit alternative potential brand names from consumers. The Bolox product of Avlon has good chances to enter the UK market if the marketing department and logistics are able to cooperate for the good of the company. Moreover, if all the results of the marketing research will be negative, it is always possible to change the situation by means of successful advertising campaigns and other marketing methods.
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