Strategy and Positioning Analysis Part 1

Strategy and Positioning Analysis Part 1

Joy Miller, Zaidith Morrison, RaeAnn Rathbun, Alysse Rodrigues, and Melissa Stanley

MKT/421

April 4, 2016

Anissa Upshaw

Strategy and Positioning Analysis Part 1

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Overview of Organization

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Description of Product/Service

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SWOT Analysis

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Competitive Analysis

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Target Market Segments

Every one of us have different needs and wants; market segmentation involves aggregating prospective buyers into groups that have common needs and will respond similarly to a marketing action (Kerin, Hartley, and Rudelius, 2015). Over the years, women have a yearning for beauty products, and it has only grown into one of the largest industries worldwide. Our new fragrance eye shadow that will be sold by Too Faced will be a must-have item everyone from all walks of life will desire. There are four bases of segmentation that can be used to segment consumer markets, which include demographic, psychographic, geographic, and behavioral factors.

Demographic

Demographic segmentation is based on some objective physical like gender and race; measurable like age and income, or other classification attributes like birth era and occupation of prospective customers (Kerin, Hartley, and Rudelius, 2015). For our eye shadow, we will be targeting females between the age of 13 and 60 and all races with an income of $10,000 or more per year. Since we will be selling all different colors and fragrances, we can target all occupations. According to a Harvard study conducted by Dana-Farber Cancer Institute, “flashed the images of 25 women of different races and ages and wearing different levels of makeup to more than 250 people. The main conclusion was that people judge women who wore noticeable lip and eye makeup as more competent than their démaquillée counterparts” (White, 2011).

Psychographic

Psychographic segmentation is based on some subjective mental or emotional attributes like personality, aspirations like lifestyle, or needs of prospective customers (Kerin, Hartley, and Rudelius, 2015). No matter your personality, eye shadow is a product everyone can individualize themselves with. Whether you are a mom at home taking care of the little ones or a business professional, eye shadow is something almost all women want. It is commonly held that being made up helps many women feel and appear more confident (White, 2011). The study also found that women who wear substantial makeup at work were perceived as more competent, likable and trustworthy by their colleagues (White, 2011). Perspective customers include everyone that has a need to create a different look and inspire confidence to experiment.

Geographic

Geographic segmentation is based on where prospective customers live or work (Kerin, Hartley, and Rudelius, 2015). Women all over the world where eye shadow; there are not many places in this world where you cannot target a market for eye shadow. Whether you are a doctor, work on Wall Street, wait tables at the local diner, or running for president, eye shadow can give you the freedom to express yourself and is suitable for almost all professions.

Behavioral Factors

Behavioral segmentation is based on some observable actions or attitudes by prospective customers, such as where they buy, what benefits they seek, how frequently they buy, and why they buy (Kerin, Hartley, and Rudelius, 2015). Eye shadow can be bought at almost every store and many online retailers. It has been seen in convenient stores even. The benefits consumers seek when purchasing eye shadow are substantial, which include looking pretty, feeling confident, adding color to their look, etc.; consumers buy eyeshadow for the same reasons. A reported $2,750 spent on eye shadow in a lifetime per person, and most women replenish their makeup bags roughly five times annually (Mychaskiw, 2013).

Needs to Buy

When it comes to makeup in general, there are several needs that cause our target market to buy. Our target market is women all over the world between the ages of 13 and 60 that want to feel beautiful, young, and confident; these attributes causes them to buy eye shadow. These needs drive women from all over the world, and from all professions to go out and buy the eye shadow that makes themselves feel like they can take on the world.

Positioning Statement

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Conclusion

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Reference

Kerin, R., Hartley, S., & Rudelius, W. (2015). Marketing (12th ed.). New York, New York:

McGraw-Hill.

White, M. (2011). Women who wear makeup seen as more competent: study. Retrieved from

http://www.theglobeandmail.com/life/the-hot-button/women-who-wear-makeup-seen-as-more-c ompetent-study/article2201457/