Analysis Of The Initial Campaign For LKS Nail Polish
Mr WilliamTM is an international company that has made a mark on the cosmetics industry in recent years. Mr WilliamTM is an international company that has made a mark on the cosmetics industry in recent years. With brands like Essie, Maybelline and Revlon , Mr WilliamTM has become a leader in the Cosmetic Market throughout Europe, North America and Australia.
LKS Nail Polish is a new range of nail polish that has been released into the Australian market by Mr WilliamTM. With the flat brush that has been specially designed for fast and smudge free application to the ten different colours, this is nail polish is exceptional.
LKS Nail Polish is targeting women aged between 25 to 34 who are fashion forward and health consious. These women are …show more content…
generally well educated and working professionals who are frequent nail polish consumers.
The purpose of the following promotional plan is to launch LKS Nail Polish as a new pail Polish option for women who want to be conscious about spending but also have the experience of a salon quality nail polish.
The initial campaign for LKS Nail Polish will run for twelve months, during which time Mr WilliamTM hopes to see a stable foothold in the Australian Cosmetic industry with reasonable sales levels and returns on investment.
Being a new product, extensive analysis has been undertaken of potential consumers, competition and the environment that LKS Nail Polish will be entering into.
2 Situation Analysis
2.1 Marketing Mix
2.1.1 Product
LKS nail Polish
• Australian made.
• The flat brush has been specially designed for fast and smudge free application.
• Available in ten different colours.
• Minimalist style packing, package containing 2 x 15ml bottle, 1 colour and 1 quick dry serum.
• Long wearing, high shine and dries in 60 seconds.
• Not tested on animals.
2.1.2 Price
LKS Nail polish will be priced at $9.99 for 2 x 15ml.
Our overall pricing strategy will be to market to a wide range of consumers with an acceptable price range.
2.1.3 Place
Our product will be sold to our consumers using the following major markets:
1. National Retail Outlets: Myer and Target;
2. Health and Beauty Store: Priceline;
3. Specialty Stores: Specific Salons who will only sell/use our product
4. Grocery Stores: …show more content…
Coles.
2.1.4 Promotion
LKS Nail Polish is a new product and accordingly has not been the subject of previous promotional campaigns. Although will have several future campaigns such as competitions on social media, advertising on billboard, magazines etc.
2.2 External Analysis 2.2.1 Customer Analysis
Marketing studies have identified the following characteristics as influencing the purchasing decision in relation to nail polish products:
Female;
Young to middle aged;
Higher education; and
Middle to high income earners.
Our target market is motivated to buy products by social factors as majority of women use beauty products to look attractive and to feel confident. Many women are very vocal on the brand of beauty products that they use, this means that would of mouth is very important. This also shows that women are also heavily influenced by friends and family.
54% of women will spend more than 50% or more of their income on beauty products.
Studies show that the involvement of our customers is high and purchase behaviour is more likely when consumers are given information about products.
When selecting a beauty product women tend to focus on brand name and the quality rather than the price. As many studies have shown women rarely switch brands, showing that in the beauty industry, brand loyalty is very important. Although when it comes to new brands price and content are equally as important. Women love free samples and majority of them would experiment a new brand if they were provided with
some.
The increasing reliance on new marketing strategies, particularly via social media and mobile applications, will influence how the industry operates. There will also be a growing reliance on new retail mediums, such as pop-up shops established via Facebook. A number of retailers are expected to make the transition to clicks-and-mortar-based operations to complement their store-based operations
LKS Nail Polish is a new range of nail polish that has been released into the Australian market by Mr WilliamTM. With the flat brush that has been specially designed for fast and smudge free application to the ten different colours, this is nail polish is exceptional.
LKS Nail Polish is targeting women aged between 25 to 34 who are fashion forward and health consious. These women are …show more content…
generally well educated and working professionals who are frequent nail polish consumers.
The purpose of the following promotional plan is to launch LKS Nail Polish as a new pail Polish option for women who want to be conscious about spending but also have the experience of a salon quality nail polish.
The initial campaign for LKS Nail Polish will run for twelve months, during which time Mr WilliamTM hopes to see a stable foothold in the Australian Cosmetic industry with reasonable sales levels and returns on investment.
Being a new product, extensive analysis has been undertaken of potential consumers, competition and the environment that LKS Nail Polish will be entering into.
2 Situation Analysis
2.1 Marketing Mix
2.1.1 Product
LKS nail Polish
• Australian made.
• The flat brush has been specially designed for fast and smudge free application.
• Available in ten different colours.
• Minimalist style packing, package containing 2 x 15ml bottle, 1 colour and 1 quick dry serum.
• Long wearing, high shine and dries in 60 seconds.
• Not tested on animals.
2.1.2 Price
LKS Nail polish will be priced at $9.99 for 2 x 15ml.
Our overall pricing strategy will be to market to a wide range of consumers with an acceptable price range.
2.1.3 Place
Our product will be sold to our consumers using the following major markets:
1. National Retail Outlets: Myer and Target;
2. Health and Beauty Store: Priceline;
3. Specialty Stores: Specific Salons who will only sell/use our product
4. Grocery Stores: …show more content…
Coles.
2.1.4 Promotion
LKS Nail Polish is a new product and accordingly has not been the subject of previous promotional campaigns. Although will have several future campaigns such as competitions on social media, advertising on billboard, magazines etc.
2.2 External Analysis 2.2.1 Customer Analysis
Marketing studies have identified the following characteristics as influencing the purchasing decision in relation to nail polish products:
Female;
Young to middle aged;
Higher education; and
Middle to high income earners.
Our target market is motivated to buy products by social factors as majority of women use beauty products to look attractive and to feel confident. Many women are very vocal on the brand of beauty products that they use, this means that would of mouth is very important. This also shows that women are also heavily influenced by friends and family.
54% of women will spend more than 50% or more of their income on beauty products.
Studies show that the involvement of our customers is high and purchase behaviour is more likely when consumers are given information about products.
When selecting a beauty product women tend to focus on brand name and the quality rather than the price. As many studies have shown women rarely switch brands, showing that in the beauty industry, brand loyalty is very important. Although when it comes to new brands price and content are equally as important. Women love free samples and majority of them would experiment a new brand if they were provided with
some.
The increasing reliance on new marketing strategies, particularly via social media and mobile applications, will influence how the industry operates. There will also be a growing reliance on new retail mediums, such as pop-up shops established via Facebook. A number of retailers are expected to make the transition to clicks-and-mortar-based operations to complement their store-based operations