An evaluation of a proposed business in the cosmetics industry.
Written in 2009; 1,532 words; 12 sources; APA; $ 50.95
Paper Summary:
The paper provides an overview of the cosmetics industry that reveals which are the fastest growing segments of the industry. The paper assesses the strengths, weaknesses, opportunities and threats of the cosmetics industry as well as the competition in the market. The paper then discusses how the proposed product offerings of men's and women's colognes, lotions and body wash need to have several key characteristics to be differentiated and successful in their defined markets. Finally, the paper outlines the necessary contingency planning for this proposed business. The paper includes several color pie charts.
"The global marketplace for cosmetics products including men's' and women's cologne and body wash is experiencing moderate growth of 4% per year, with industry-wide revenues totally $170B in calendar year 2007 (Barson, 2008). The catalyst of market growth continues to be natural/organic products within the more profitable key markets globally (Ross-Fichtner, 2005). Natural and organic products continue to gain in popularity rapidly as a direct result of increasing sophisticated tastes on the part of the men and women consumers in addition to a heightened rise of the ethical consumerism globally. It is estimated by market experts that the inclusion natural and organic products contributes an additional $97 billion in sales to the industry globally (Barson, 2008)."
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