Marketing Management Of Lipstick – CBSE Class 12

MARKETING

Marketing management is the directing of an organization’s resources to develop and implement the best possible strategy in order to reach its desired customer segment with the goal of maximizing sales of a particular product or service. “Marketing management is the art and science of choosing the target market and getting, keeping and growing customers through creating, delivering and communicating superior customer value(Kotler and Keller,2008:5). Marketing is the process used to determine what products or services may be of interest to customers and the strategy to use in sales, communications and business development (Kottler.1996)

FIVE MARKETING MANGEMENT CONCEPTS

  • PRODUCTION CONCEPT
    The production concept is used when the demand for a product is higher than its supply. The philosophy here is “Supply creates its own demand “.Therefore, the focus is on manufacturing more product to make sure it’s widely available
  • PRODUCT CONCEPT
    Contrary to the production concept, this concept assumes consumers value products of a higher quality as approved to price and availability. Therefore the focus is more on quality and less on quantity. The idea is that if a product is of great quality, minimal marketing will be required
  • SELLING CONCEPT
    Where the production and product concepts focus on manufacturing, the selling concept focuses on the marketing of an actual sale. The number one focus for the manager is to make money, no matter the quality needs of consumers, supply, or demand. The selling concept entails very aggressive marketing.
  • SOCIETAL CONCEPT
    Marketing managers with this approach are also concerned about the well-being of society and feel a responsibility to tend to the world around them. It creates a balance of social, customer relationships and sales.

4Ps

  • PRODUCT
    The product is either a tangible good or an intangible service that seems to meet specific customer need or demand. All the products follow a logical product life cycle and it is vital for marketers to understand and plan for various stages and their unique challenges it is key to understand these problems that the product is attempting to solve. The benefits offered by the product and all its features need to be understood.
  • PRICE
    Price covers the actual amount the end-user is expected to pay for a product. How a product is priced will directly affect how it sells. This is linked to what the perceived value of the product is to the customer rather than an objective costing of the product on the offer of a product is priced higher or lower than its perceived value, then it will not sell. This is why it is imperative to understand how a customer sees what are you are selling
  • PROMOTION
    The marketing communications strategies and techniques all fall under the promotion heading. These may include advertising sales relations. Whatever the channel used, it is necessary for it to be suitable for the product, the price and the end it is being marketed to
  • PLACE
    Place and placement have to do with how the product will be provided to the customer. Distribution is the key element of placement. The placement strategy will help assess what channel is most suited to a product.

INTRODUCTION

Lipstick is a cosmetic product containing pigments, oil, waxes and emollients that apply colour texture and protection to the lips. Many colours and types of lipsticks exist. As with most other types of makeup, lipstick is typically, but not exclusively worn by women. Some lipsticks are also lip balms to add colour and hydration. Lipstick is a key part of many women’s makeup collections, and even women who aren’t as heavily into makeup usually own at least two or three lipstick or maybe just that perfect shade of “RED”.There are many different types of lipsticks matte, glossy, moisturizing etc.

COMPETITORS

  • LOREAL PARIS
    The loreal Paris is the worlds largest cosmetic and beauty company with its registered office in Paris concentrating on hair colour, skincare, perfume and hair care. the company is active in dermatological tissue engineering and biopharmaceutical research fields and is the top nanotechnology holder of a patent in the United States. The company is a component of the Euro Stoxx 50 stock market index.
  • AVON
    Avon products inc known simply as Avon. Avon is a maerican international manufacturer and distributor of households and personal care. The company sells products through representatives in over 140 countries across the world. As of 2012 Avon had annual sales of $10 billion worldwide. It is the 50th largest beauty company and with 6.4 million representatives, is the second-largest direct seeking enterprise in the world. Avon product is a multilevel marketing company. The company’s CEO is Sherilyn’s S Mccoy who was appointed to the position on April 12 Avon has struggled with the global sales falling for 5 straight years.
  • ORIFLAME
    Oriflame cosmetiv is an internaional beauty selling direct.Thr company began operations in 1967 in sweden and has today a presence in over 60 countries world wide.The company has over 9.5million consultants world wide with anuual sales of 1.5billion.Oriflame,the battle standard of the king of france.Oriflame,a cosmetic group French ship oriflame a cosmetic group of France.Oriflame,acosmetic group french ship oriflame,a french ship sankk off the coast of chile British ship oriflame arrived to San Francisco Jan,8 1876,256 days from Londin,viua partmouth.Oriflame a Branlebas class destroyer of the french navy.
  • LAKME
    Lakme is an Indian brand of cosmetic owmed by Unnilevr.Lakme started as 100% subsidiary of Tata oil mills (Tamco) part of Tata group.It was nnamed after the French operations Lakme ,which itself is the french form of “Lakshmi”,the goddess of wealth,aslo renowed for her beauty Indian cosmetic Lakme was started in 1952, famously because the prime minister Nehru,was concernedd that Indian women were spending precious foreign exchange on beauty products and personally requested Tata to manufacture them in Inda Lakme Lever to HLL fpr Rs 200 crore.
  • MAYBELLINE
    Pucker up ladies.Maybelline has pleny of lipsticks to play up your pout .Go from dramatci bolds for a night out to subdued nudes for a job interview and with a shade compliment every range as wide as ours,there’s a colour to complement evry skin tone.Now, amp up those lucious lips.The maybelline company was created by a 19 year old entrepreneur named Thomas lyle williams in 1915 william noticed his older sister Mabel applying a mixture of vaseline and coal dust to her eyelashes to give them a darker,fuller look.He adopted it with a chemistry set and produced a product sold.

WHY LIPSTICK?

  • I have selected my product ‘LIPSTICK” because I love to use lipstick and it is one of the most important product in cosmetics
  • Today’s modern world Indian girls have a great deamnd of lipsticks
  • Lipstick is one of mhy favourite product so,i have choosen my product lipstick
  • There are many types of lipsticks we foudn in market like matte,glossy etc.Most of the time ii prefer matte colour of lipsticks they are so much proof and very easy to use.

MY PRODUCT

Name: Colourmate

Tagline: Bold as your confidence

USP: Gives you long-lasting colour with smooth lips

Price: Rs 250/- per lipstick

A logo is a combination of text and visual imagery that serves two purposes. It tells people the name of the company and it created a visual symbol that represents your business. Some logos have powerful symbolic associations connected to people’s memory

A logo is important because it

  • Reveals your identity.
  • Invites new customers to get to know you.
  • Distinguishes you from the competition .
  • Facilates brand loyalty.
  • Can be evrywhere.

LABELLING

Display of information about a production its container, packaging, or the product itself is known as ad labelling. For several types of consumers and industrial products, the type and extent of information that must be imparted by a label are governed by the relevant safety and shipping laws.

SIX QUALITIES OF A LABEL DESIGN

  • The right material
  • Colour that POP
  • Great graphics
  • REadablle,Eye-catching fonts
  • Super shape
  • Fabolous Finish

UNIQUE SELLING PROPOSITION

With so many businesses offering the same type of products and services, you can only win over your competition if your offer is available for a particular customer at a particular time and there is nor-or if your product or service offers something that theirs does not. This is what we call a unique selling point or USP.esentailly, a USP is a summary of features that make your business unique and valuable to your target market. It tells your target customers that your company offers more value compared to other brands in the market. It is not just being different from the rest, it is offering something different and valuable

SWOT ANALYSIS

SWOT analysis is an analysis framework used to evaluate a company’s competitive position and stands for strengths, weaknesses, opportunities and threats. It is a tool that identifies the strategy, weaknesses, opportunities and threats of a business.

  • Strengths describes what an organization excels at anf seperates it from competition things like a strong brand,loyal customer etc.
  • Weakness stop an organization from performing at its optimum level.They are areas where the business needs to improve to remain competitive,things like higher than industry average turnover,high levels of debt,an inadequate supply chain or lack of capital
  • Opportunities refer to favourable external factors that an oranization can usee to give it a competitive advantage.
  • Threats refer to factors that have the potential to harm an organization.

PERMISSIONS AND LICENSES

PATENT REGISTRATION
Patent rights are given by giving to employees for having innovative products.No companies can copy design, technology, etc. If the company has the product is secured through patents. The company has to pay fees to the register on a timely basis till the company wants the patent rights.

TRADEMARK
A part of a brand that is given legal protection is called a trademark. Applying for a trademark is an easy procedure. The company has to give the list of brand names for which it needs a trademark. Only one of the names is selected out of the list.

BRANDING

The process involved in creating a unique and image for a product in the consumer’s mind, mainly through advertising campaigns with a consistent theme. Branding aims to establish a significant and differentiated presence in the e-market that attracts and retains legal customers

  • Branding promotes recognition
  • A brand sets us apart from the competition.
  • Strong branding genrates referrals
  • Branding sets expectations
  • A strong brand adds value

GRADING

Grading s the process f sorting individual units of a product into well-defined classes or grades of quality. The goods are graded or sorted out into different lots in accordance with the specified standards. The established standards lay down the grades of the product. In the case of manufactured goods, goods can be of uniform quality. But agriculture products like fruits and vegetables etc, vary in quality. therefore classes or grades of quality are set and different units of the product are sorted into the established standard grades. Thus grading involves the division of products into classes made up of units possessing similar characteristics of size and quality and standardization to refer to the process of setting up basis measures.

PACKAGING

Packaging refers t the process of designing the package such that containers, wrappers etc. It plays a very significant role in the marketing success or failures of many products, especially for non-durable consumer products.

  • PRIMARY PACKAGE
    It refers to the products immeduite package.in ceratin cases,such akcage is retained till the consumer in ready to use the product for example plastic packet of socks.
  • SECONDARY PACKAGE
    It is the additional packagong given to a product to protect it.Such packaging is retained till the consumer counts to start using product for exmaple Pears Saop usually comes in a card board box.
  • TRANSPORTATION PACKAGE
    It refers to packages esential for storting,identifying or transporation.For example -use of corrugated box

CHANNELS OF DISTRIBUTION

A distribution channel is a chain of businesses or intermediaries through which a good or service passes until it reaches the end consumer. It can include wholesalers, retailers, distributors and even the internet itself. Channels are broken into direct and indirect forms, with a “direct” channel allowing the consumer to buy the good from the manufacturer, and an “indirect” channel allowing the consumer to buy the good from a wholesale or retailer. The first channel is the longest in that it includes all four, from producer to the end consumer. The wine and adult beverage industry is a perfect example. The second channel is one where the producer sells directly to a retailer, who then sells the producer’s product to the end consumer. The third channel is direct to consumer model.

WAREHOUSING AND TRANSPORATION

Warehousing is a key component of the overall business supply chain. The supply chain consists of the facilities and distribution options for the procurement of materials from the manufacturer to the customer and all points in between. It includes the production of materials into components and finished products and then the distribution to customers. The storage housing would be a centralized system for our product. It would act as a master storage zone.

TRANSPORATION
Weekly orders would be dispatched for local retailers and shop owners from the centralized distribution centre. While monthly stock would be updated at the centralized stock centre depending upon the location, quantity and availability, mode of transportation would be selected.

PROMOTION

Promotion and advertising can be heavy expenses especially for a new business that wants to make themselves known in a community.A home-based business however more often than not has a very limited budget when it comes to advertising the home business owner needs to make the public aware of his or her product or services at the lowest possible cost.
Here are some points which prefer for promotion

  • Events
  • Contests
  • Community Services
  • Celebrate holidays
  • So where the people are
  • Mailing list
  • Seminars
  • News creations
  • Build awebsite for the business
  • Use free publicity
  • Create partnership with other organization

SOCIAL MESSAGE

FOR THE ENVIRONMENT
The body of used lipstick will be collected and recycled during the production of a new lipstick.

FOR THE SOCIETY

  • Every month a ceratin percentage of profit will be donated towards the poor sections of the society
  • The colours if lipstick will contain natural colour from non-harmful sources.

CONCLUSION

From this marketing research. I have understood the importance of marketing mix. I have learnt to take the following necessary decisions regarding the 4P’s of marketing and following things too

  • Gathering and analysing market information.
  • How to design a product .
  • Branding a packaging
  • Pricing a product
  • Marketing and promotion etc.

ACKNOWLEDGEMENT

I would like to express my special thanks of gratitude to my teacher as well as our principal who gave me the golden opportunity to do this wonderful project on the topic which also helped me in doing a lot of research and I came to know about so many new things I am really thankful to them secondly I would also like to thank my parents and friends who helped me a lot in finalizing this project within the limits time frame.

CERTIFICATE

This is to certify that a class of the school, has completed his project under my supervision. He has taken proper care and shown at most sincerity in the completion of this project. I certify that this project is up to my expectations and per the guidelines issued by CBSE.

BIBLIOGRAPHY

  • httpss://www.google.co.in/search?q=lipstick+brands&i.e=UTF-8&0e=UTF-8&hl=en-inZ&client=safari
  • https://www.google.co.in/search/?q=lipsytick-880e=UTF-88hl=en-in&client=safari
  • hhtps://www.google.co.in/search/?q=lipstick&i.e=UTF-880e=UTF-88hl=en-in&client=safari
  • hhtps://www.google.co.in/search/?q=marketing managemnt &i.e=UTF-880e=UTF-88hl=en-in&client=safari
  • hhtps://www.google.co.in/search/?q=5+marketing +concepts&i.e=UTF-880e=UTF-88hl=en-in&client=safari


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