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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.
From the Paper:"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)."
Sample of Sources Used:
- Donna C Barson (2008, May). Marketing in Recessionary Times. Global Cosmetic Industry, 176(5), 45. Retrieved August 10, 2008, from ABI/INFORM Global database. (Document ID: 1498444641).
- BEAUTY: Scents and sensibility. (2004, October). Chemist & Druggist,32. Retrieved August 11, 2008, from ABI/INFORM Trade & Industry database. (Document ID: 724352391).
- John Davies, He Zhu, Brian Brantley. (2007). Sex Appeals that Appeal: Negative Sexual Self-Schema as a Moderator of the Priming Effects of Sexual Ads on Accessibility. Journal of Current Issues and Research in Advertising, 29(2), 79-89. Retrieved August 9, 2008, from ABI/INFORM Global database. (Document ID: 1396376771).
- The branding of beauty: forget glamour, the cosmetics business has become just another branch of the consumer-goods industry. (1995, October). The Economist, 337(937), 67-68. Retrieved August 12, 2008, from ABI/INFORM Global database. (Document ID: 636271831).
- Doris de Guzman (2006, October). Smell of success. ICIS Chemical Business Americas, 270(15), 26,28. Retrieved August 8, 2008, from ABI/INFORM Global database. (Document ID: 1159642801).
Cite this Business Plan:
The Cosmetics Industry: An Analysis (2009, January 28) Retrieved April 19, 2021, from https://www.academon.com/business-plan/the-cosmetics-industry-an-analysis-111734/
"The Cosmetics Industry: An Analysis" 28 January 2009. Web. 19 April. 2021. <https://www.academon.com/business-plan/the-cosmetics-industry-an-analysis-111734/>