Market to Millennials Forty nine percent of millennial women prefer natural or

Market to millennials forty nine percent of

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- Market to Millennials: Forty-nine percent of millennial women prefer natural or organic skin care products and intend to purchase them in the future, Women’s Marketing found. Therefore, as the beauty market continues to grow - and sustainable products become more popular - marketing to millennials is becoming increasingly important. Highly competitive, competitors include players with large market share e.g. Body Shop, Jurilique. Marketing mix Current Pricing Strategy: Offer quality products at a premium price Current Promotional Strategy: Previously relied on web site only. A Facebook page has now been established. Also sending out a monthly newsletter, as well as blogging to improve SEO. Current Distribution Strategy: Offer products via online shop and in stores across Australia, mainly health food stores. Product opportunities 4 | P a g e
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Southern Cross School of Business CRICOS Provider Code: 03523D I RTO ID: 41253 | ABN: 95155625924 Level 2, 1-3 Fitzwilliam Street Parramatta NSW 2150 Level 3, 531 George Street, Sydney, NSW 2000 Ph: 61 (2) 8937 0506 & 9633 3287 • Cleansing creams to soothe skin during make-up removal. Primary ingredients include Shea butter to nourish the skin and plants extracts that are also rich in essential oils with regenerating and anti-inflammatory properties. This product will be for delicate and mature skins and could also be used as a baby cream. • Multi Protection Day Moisturizing Creams for dry to normal skin types that help protect the skin during the day and includes Shea butter and extracts from fragile green algae that provides hydrating and protective properties. • Regenerating facial scrub to clean off dead skin cells to promote regeneration of healthy new cells. This product will be used for most skin types. Promotional activities Successful promotional activities have been advertisements on the Australian body + soul web site and in the Natural Health magazine. There have also been in-store promotions with the focus on high quality products for women. Data about web site visits will have to be analysed to see if 10% target has been achieved for each item. Pricing Current Pricing Strategy: Offer quality products at a premium price Distribution Current Distribution Strategy: Offer products via online shop and in stores across Australia, mainly health food stores. Marketing performance analysis Awareness increasing to achieve required 10%. Sales generally increasing – store sales are not increasing, this is probably due to lack of promotional activities to increase retail sales. Online sales increasing and by over required percentage. This could reflect social media promotion. Spend generally more than budget but spend is currently potentially too low. Recommendations for improving marketing and performance Develop new product range 5 | P a g e
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Southern Cross School of Business CRICOS Provider Code: 03523D I RTO ID: 41253 | ABN: 95155625924 Level 2, 1-3 Fitzwilliam Street Parramatta NSW 2150 Level 3, 531 George Street, Sydney, NSW 2000 Ph: 61 (2) 8937 0506 & 9633 3287 Maintain price for range to retain quality image Sponsorship and events activities every month Try the Japanese market
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