Decorative Cosmetics Market’s Practical Research

Marketing gap

There is a great gap in the world market for decorative cosmetics. Buyers in the market are anticipating getting a better cosmetic that gives them a good look without many negative effects. Surveying the market, one realizes that most products available, especially decorative cosmetics, are known to have one or two effects. Introducing the products into the market with no or minimum negative effects will have a huge market. The demand for the products is on the rise, and it is upon our company to take advantage of the lack of proper and competitive product offering in the market. The total actual market available for the product is constantly growing, but the available companies cannot meet the available demand. Using the information available to various researches, I can confidently advise our company to go into the market without fear.

Market trends in decorative cosmetics and the influences

There is a constant growth in the market for this form of product. The growth is due to the growing need for the young generation with extra disposable income who have taken duty as a way of living. Fashion and models have contributed greatly to this growth in the market, ensuring that the growth for the product market is high. In the recent past, there has been a growing

Customer targets;- In order to identify and serve customer targets well, there is a great need to understand their needs and wants. This is how that particular product will serve the needs. Take, for example, decorative cosmetics. Most people will not have enough money to buy most cosmetics and hence the need for decorative cosmetics that are packed in all sizes to cater to all the market needs. This will also assist those who want to buy more than decorative cosmetics because they can find them. Once the customers see the need for the product, they will also enhance the market for fashion products and related ideas. Therefore, the product targets those clients who are beauty conscious or those with an ego of extra smart such as celebs. The company should come up with a product that is easy to operate so as to make the customers more comfortable. Proper studies should be done on the market before coming up with new ideas.

Competitors’ targets:-Competitors will try as much as possible to produce the same or similar products with features similar to decorative cosmetics features but are minimal. Competitors’ target, in most cases, will be the same target market as that of the decorative cosmetics product market. This means that they will also target the USA and the UK and will try to develop their product or add product features with the aim of taking over the target market. To deal with them, there should be the development of quality products and develop a sense of a high-quality image. The use of highly knowledgeable and well-trained sellers and dealers, having an excellent service network that consumers know they will get quick repair services.

Customers’ understanding is also very important through face-to-face encounters and discussions with them. This is also possible through market research to understand how they feel about the product features added to the product and what influences their patterns of purchase and what motivates them to buy the product. Major competitors are identified and described in terms of size goals, market share, product quality, and strategies, and this enables us to understand their intentions and behaviours.

Testing the market:- Test market is A step in development. The entire decorative cosmetic and its marketing strategy will be subjected under normal conditions to a relatively small number of well-chosen market situations. After the test marketing results have become available, we will take decisions on the mass production and mass marketing of the new product.

Marketing mix

Marketing is vital in all types of organizations, and in order to be successful, there is the need to incorporate the marketing mix. The marketing mix elements are product, price, place and promotion. Our product is decorative cosmetics, and we have looked at the product features that make it stand out from its competitors. We have also looked at places. That is how the product will reach the consumers. Good strategies for products should also consider the price. The promotional mix is important in this case because good advertising, personal selling, sales promotion and publicity skills should be employed to enhance the sales of decorative cosmetics and expand the market. This will ensure that the bundle of benefits a customer gets from a product serve the purpose for which he bought it. This will also assist the company in alerting customers to be aware of the product, i.e., in advertising. There are many ways of advertising. Communication that can be used on decorative cosmetics is visual adverts- newspapers, magazines, etc. Other ways are audio-visual- TV, videos and cinemas and audio where advertisers use the radio. Another very good form of promotion to use is via the internet, where decorative cosmetics products can be placed online for customers to be aware of and purchase.

Good promotions aimed directly at the customers can also enhance sales, just like direct mail, flyers or posters that can keep the customer updated about the product. In the case of decorative cosmetics, where the product is sold in retail and electronic stores, personal selling is essential, but there is a need to employ effective salespeople to sell the product and explain the important product feature.

Product:- We will manufacture and retail fifty-two varieties of decorative cosmetics. We are generating a range of cosmetics to complement the beauty products. In addition, we merchandise a stylish T-shirt emblazoned with our branding. We are introducing decorative cosmetics, which will cover the market gap that exists in the market.

Price:- The pricing of products is divided into two. One is the purchase of the decorative cosmetics that will be used by allergic persons, and on the other hand, we have the price depending on other customers. This varies according to the customer needs of the products, and this pricing is rather psychological because it encourages the customers to use more products, and those who buy more will pay less; thus, pricing tends to reward the loyalty of customers to the products. The price discounts are also used as promotional methods to encourage the customers to buy in large numbers.

Across the retails, the prices range from $ 5 for 100ml and $10 for 200ml. The decorative cosmetics are sold throughout selected stores in standard pint units and cost in the region of $5.00 to $20.00. The customer has the option of purchasing their products online. The company website retails its product in bulk at the cost of $32.95 for four individual units available.

Place:-The company owns twelve outlets in UK and USA, and its products are distributed in various selected retail stores across the same continents. The company will also distribute decorative cosmetics products and merchandise through the website online shop.

Promotion:-Promotion is by advertising through its network of walk-in stores. More recently, our products have featured on a number of television programs, and we will incorporate decorative cosmetics on Oprah Winfrey Show, Tyra banks show and The Apprentice, which have both succeeded in raising their profile considerably.

The decorative cosmetics will take a tour around the US and UK in a decorative cosmetics van. On the journey, the van will stop at a number of different towns to serve taster samples of their products. All merchandise like their T-Shirts will also create more awareness for the business.

Critique of the existing marketing mix and suggested recommendations for development to incorporate the new launch

As decorative cosmetics is quite a seasonal consumer product predominantly popular when the mostly festivities, it might be advantageous to consider introducing another product that can be sold throughout. This might include a range of decorative cosmetics varieties that are currently being retailed by the company. In addition to this, perhaps gift sets maintaining the theme of the existing decorative cosmetics could be developed to capture the market. The concept of selling T-Shirts could be expanded upon; by designing a long-sleeved sweatshirt version and a baseball-style hat with the emblazoned company logo.

This contributes to considerations based on the actual pricing of the product. The online shop currently only distributes in bulk. This is understandable in terms of the processing and paperwork that would be involved in small sums of money. However, it might be beneficial to look at selling a smaller-sized version of tins in quantities of four at a cost that will be half of the $32.95. Again this may encourage people of lower incomes to buy smaller tins for their beauty.

In terms of distribution, there are a number of options available. Potentially decorative cosmetics could be promoted for sale at stores, supermarkets and retailers. This would continue to raise the profile of the company whilst encouraging it as a mainstream, well-known brand that is available to buy and use.

Another technique could involve devising a competition by way of an international campaign for the public to come up with new decorative cosmetics or even just a name for cosmetics. This could be rolled out as a national initiative. Details of how to enter and win a prize that would result in someone’s winning answer being immortalized throughout the branding could be inserted inside the lid of every lid of decorative cosmetics. The media attention that something as simple as this might get if exploited in the right way could prove to be significant to the marketing of the product and brand name overall.

We shall use the following tools in introducing the products Advertising:- we can choose to advertise in the local press (newspapers, mail, magazines), commercial television, billboards.

  • Use of Travel agencies, brochures
  • Word of mouth (personal selling)
  • Out-door hoarding, transport advertising by the taxi (cabs)
  • Celebrity endorsements

Otherwise, to give a selected celebrity free sample for them to endorse the decorative cosmetics to the public. The decorative cosmetics advertising message will be “Real decorative beauty”.

With the message, the cosmetics will sell themselves and become a preferred choice to anyone who wants cosmetics. There will also be a sales promotion which will involve;

Temporary price reduction to attract new consumers and also retain the old consumers that the product would have captured.

Publicity:The company entails getting involved with the community developments by offering, e.g. the homeless, a free meal every week and organizing beauty pageants. With this social responsibility, the company products will be able to boost the publicity of decorative cosmetics, hence creating more awareness.


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