Any new product, service or company needs its own #brand. The goals of creating a #beautybrand is to:
- highlight your product on the market;
- detach from competitors;
- attract a consumer;
- focus on the key advantages of your product.
SMLXL
1. Marketing analysis of the cosmetic brands market.
First, you need to define your target audience. The more precisely this is done, the better. For example, for a any cosmetics brand, the target audience cannot be all women. That is too general approach that will interfere with brand positioning. Depending on the type of cosmetics, you can create a group that will for your audience, like women from 35 to 50 years old with an income above the average.
Once the key points have been identified, it is necessary to conduct a research on the target audience. Its purpose is to answer the following questions:
• tastes and preferences of consumers;
• frequency of purchase;
• perception of competitive brands;
• factors of selection of goods and other important points.
After a thorough study of the target audience, you can move on to competitor research. The research objective is to identify the following points:
• major market players and their positioning strategies;
• identifying market problems;
• study of advertising communication, etc.
Upon completion of the marketing research, a summary report should be drawn up, displaying the main indicators and key findings.
2. Choosing a positioning strategy.
All future brand promotion depends on the choice of positioning strategy. Therefore, the chosen strategy should:
• meet the needs of the target audience;
• distinguish the brand from competitors;
• highlight the key advantages of the product.
3. Development of your brand components.
At this stage you should do:
• Naming
• Logo Design
• Tagline
• Product packaging style
• Label design
• Advertising communications, etc.
4. Brand book development.
The result of creating a cosmetic brand is a brand book. It details all brand elements and provides guidelines for their use.
Some trends to watch out for when creating a cosmetic brand:
1. Projected growth in sales of beauty products for men.
2. Growing interest in product quality. American consumers who choose foreign cosmetics motivate their choice by the fact that, in their opinion, it is of higher quality than American one. Therefore, the main goal of future brands will be to convince the USA consumer of the quality of their products and win their trust.
3. Development of the vegan market. Today only 2% of American cosmetics manufacturers offer products for vegan segment. Meanwhile more and more people get tendency choose vegan products over regular ones. Great prospects are opening up for new brands who would take that opportunity.
4. Development of cosmetics for teenagers.
5. Growing interest in American made decorative cosmetics. In connection with a significant increase in prices for imported cosmetics, American women began to pay more and more attention to domestic products of acceptable quality and at an affordable price.
Brand development is only the first step to success for any business. AB 27 GROUP specialists have considerable experience in brand development. Contact us and we will create a brand for you that will bring profit to you and benefit your customers!