Cultural Norms, Fair & Lovely, and Advertising.
Case Analysis 2-2: Cultural Norms, Fair & Lovely, and Advertising.
Kasim Hussain
BUSA 460
Professor Simpson
November 17, 2008
The demand for cosmetic products in India is still increasing and the current market size stands at $950 million U.S. dollars. The growth is between 15-20% annually and the overall beauty and wellness market that includes beauty services is about $2,680 million. (Bhattacharya, 2008). The change in the socio-economic status of the Indian consumers, especially women, is one of the main reasons for the increase in the market size. The economic situation has resulted in India’s GDP, growing 8.7% from 2007 to 2008, this makes India one of the fastest growing economies in the world and the second fastest in Asia, only overtaken by China. The change in the beauty industry that has resulted in women from all the social classes are being more conscious of their own appearance and are willing to spend more money on beauty and cosmetic products in the future. The Indian population spends $0.68 per capita on cosmetics, this might be lower than other countries, but still emphasizes the growing awareness among consumers. (Bhattacharya, 2008).
The color of the skin is a powerful theme in India, lighter color is associated with a higher status. Culturally, a fair skin is compared with positive values that are related to class and beauty. (Cateora and Graham, 2007). The Indian film industry (Bollywood) is the largest film industry in the world when comparing ticket sales and number of films produced annually. Many of the Indian film actors are opinion leaders and have an influence on the population regarding beauty and fashion. Many of the actors are light colored which means that girls and women want to look like them, therefore willing to spend money on cosmetics to realize their dreams. It’s not only people from the higher social class but also people from the bottom of the pyramid (BOP) that are
Kasim Hussain
BUSA 460
Professor Simpson
November 17, 2008
The demand for cosmetic products in India is still increasing and the current market size stands at $950 million U.S. dollars. The growth is between 15-20% annually and the overall beauty and wellness market that includes beauty services is about $2,680 million. (Bhattacharya, 2008). The change in the socio-economic status of the Indian consumers, especially women, is one of the main reasons for the increase in the market size. The economic situation has resulted in India’s GDP, growing 8.7% from 2007 to 2008, this makes India one of the fastest growing economies in the world and the second fastest in Asia, only overtaken by China. The change in the beauty industry that has resulted in women from all the social classes are being more conscious of their own appearance and are willing to spend more money on beauty and cosmetic products in the future. The Indian population spends $0.68 per capita on cosmetics, this might be lower than other countries, but still emphasizes the growing awareness among consumers. (Bhattacharya, 2008).
The color of the skin is a powerful theme in India, lighter color is associated with a higher status. Culturally, a fair skin is compared with positive values that are related to class and beauty. (Cateora and Graham, 2007). The Indian film industry (Bollywood) is the largest film industry in the world when comparing ticket sales and number of films produced annually. Many of the Indian film actors are opinion leaders and have an influence on the population regarding beauty and fashion. Many of the actors are light colored which means that girls and women want to look like them, therefore willing to spend money on cosmetics to realize their dreams. It’s not only people from the higher social class but also people from the bottom of the pyramid (BOP) that are
References: Bhattacharya, P. (2006) India’s Cosmetic Market Ready for Big Leap. Central Intelligence Agency (CIA) (2008). The World Factbook. Sathish, R. (2008, October). Corporate Social Responsibilty in India-Putting Social-Economic Development on a Fast Track