Labels

  • EOC
  • New Product
Showing posts with label New Product. Show all posts
Showing posts with label New Product. Show all posts

Monday, May 11, 2015

Analysis of The Product in The Real World

Analysis:

I gave this survey to 10 random women I was “friends” with on Facebook. From the results received, I concluded that: The most common age range for women buying perfume is 18-24 years of age, and that half of them would spend a medium range of $50-$80 on a bottle of perfume. A majority of these women owns 2-5 perfumes.
80% of these women would likely buy a bottle of perfume based on first attraction to the presentation of the bottle or packaging. Half of the women like a combination of a Sweet and Floral scent.
All women said they wear perfume on special occasions and 80% of the women say they wear it on a daily basis. 100% of the women said they applied perfume because its part of their daily routine, they want to feel confident and attractive and they just like to smell nice.
From this research I gathered that women are really attracted to the way a bottle or packaging looks and will pay more because of it. Women like a combination of scents and have more than one perfume because they like variety or wear a certain perfume for a certain occasion since all the women said they wear it for that specific purpose. From the perfume examples given to me (Daisy by MJ, Flowerbomb, Chanel, Vera Wang) like the Sweet and Floral scent these perfumes give. Women wear perfume for all sorts of reasons and to boost their self esteem towards themselves and what others may think of them.

Fragrance:

            Based on the results given to me, I will focus on creating a perfume that is Sweet and Floral like that has great packaging and a tasteful bottle. I will price it at around $60. I want the perfume to be very feminine like, so the top note will be Vanilla, Middle note will be Guava & Passion fruit and the Base note will be Peonies and Tuberose. I want the wearer to feel confident, sexy and feminine while wearing my perfume. The fragrance will be called “Forget Me Not”

Marketing Plan:


            From the survey, most of the women indicated that they would spend about $50-$80 on a bottle of perfume. Forget Me Not will be priced at $60 and would be sold at beauty retailers such as Sephora and Ulta. Forget Me Not will also be sold in various middle priced retailers such as Urban Outfitters, Free People, and Forever 21. These stores target market age for women is between ages 18-35, which is why they are most likely to but Forget Me Not in a store like that. Forget Me Not would either be located in a perfume department if there is one or marketed like an impulse or countertop buy at the clothing retailers. My slogan would be “Can’t get enough” and my campaign would feature a young beautiful women in a white dress with a bouquet of peonies by her face in a fun, flirty, sexy way. Advertisements would be featured on all platforms of social media and advertised in smaller teen magazines such as Teen Vogue and Seventeen.

Survey Results

Sample Survey Results

1.     What is your gender?
·      Female
·      Male
·      Other

100% circled “Female”

2.     What age group do you categorize in?
·      Under 18
·      18-24
·      25-35
·      36-45
·      46+

70% circled 18-24
30% circled 25-35

3.     What is your go-to perfume? Please describe.

Flowerbomb, Victoria’s Scent, Bath & Bodyworks Scent, Marc Jacobs Daisy, Princess by Vera Wang, D&G Light Blue, Chanel Chance

4.     How much would you spend on a bottle of perfume?
·      Under $20
·      $20-$50
·      $50-$80
·      $80-$100
·      $100+

30% $20-$50, 50% $50-80%, 10% $80-$100, 10% $100+

5.     Do you wear perfume everyday?
·      Yes
·      No

80% circled Yes
20% circled No

6.     Do you wear perfume on special occasions?
·      Yes
·      No

100% circled Yes
7.     Are you more inclined to buy a perfume if the bottle or presentation is attractive?
·      Yes
·      No

80% said Yes
20% said No

8.     Which types of scents do you prefer?
·      Sweet
·      Floral
·      Citrus
·      Light Musk

20% said Sweet
30% said Floral
50% said Sweet & Floral

9.     Why do you apply fragrance?
·      Daily routine
·      Confidence
·      To be attractive
·      I just like to smell nice

100% circled all choices

10. How many fragrances do you own?
·      1
·      2-5
·      5+

60% circled 2-5

40% circled 5+

Monday, April 27, 2015

Fragrance Survey Questions

1.     What is your gender?
·      Female
·      Male
·      Other
2.     What age group do you categorize in?
·      Under 18
·      18-24
·      25-35
·      36-45
·      46+
3.     What is your go-to perfume? Please describe.

4.     How much would you spend on a bottle of perfume?
·      Under $20
·      $20-$50
·      $50-$80
·      $80-$100
·      $100+
5.     Do you wear perfume everyday?
·      Yes
·      No
6.     Do you wear perfume on special occasions?
·      Yes
·      No
7.     Are you more inclined to buy a perfume if the bottle or presentation is attractive?
·      Yes
·      No
8.     Which types of scents do you prefer?
·      Sweet
·      Floral
·      Citrus
·      Light Musk
9.     Why do you apply fragrance?
·      Daily routine
·      Confidence
·      To be attractive
·      I just like to smell nice
10. How many fragrances do you own?
·      1
·      2-5

·      5+

Tuesday, April 14, 2015

Week 2: New Product-Fragrance

For a fragrance, I want it to be marketed towards women. I want my fragrance to be lasting. I don’t know what I would want it to be called, but something very feminine. I want my perfume to stand out from others so I want some sort of technology integrated in it, such as when/if your body odor starts to come forth throughout the day, the fragrance would become stronger. I know deodorant brands tend to use this technology and call it “stress response”.  Fragrances that are alcohol based tend to fade throughout the day, but fragrances that are oil based last much longer, which is why I want my fragrance to be oil based. Personally I like fragrances that are not too floraly. I tend to wear fragrances such as Viktor & Rolf’s Flowerbomb and Marc Jacob’s Daisy. I went to Sephora’s website and clicked on their perfume tab and then clicked on their bestsellers link. Viktory & Rolf’s Flowerbomb was number one and contained essences of Sambac jasmine, centifolia rose, cattleya orchid, and ballerina freesia bloom on a base of patchouli. Their second bestseller is YSL Black Opium which contains Coffee Accord, Orange Blossom, Cedar Wood Essence, Patchouli Essense. Another top seller is Marc Jacob’s Daisy, which contains Strawberry, Violet Leaves, Ruby Red Grapefruit, Gardenia, Violet Petals, Jasmine Petals, Musk, Vanilla, White Woods.
From looking at bottles of fragrances, it seems that consumers like unique looking bottles, whether they are cut in a clean way or are shaped like some sort of object, have a different texture or provide an aesthetically appealing look. Most bottles I have looked at have an easy to remove cap as well.
According to Report Linker, Leading players in the industry currently operating in the global perfume and fragrance market include Coty, Polo Ralph Lauren, Avon, Procter & Gamble, L’Oreal, Chanel, Estee Lauder, LVMH, Gucci, Bulgari, Puig, Elizabeth Arden and Versace. “Future growth in the global perfumes and fragrances market will be driven by the development of new products, including fragrances catering for consumers favoring natural products and environmentally friendly ingredients. Suppliers will also cater more to specific consumer segments such as fragrances for babies and young children, reports Global Industry Analysis Scents specifically for teenagers represent an area with huge potential for growth, with baby boomers the second-most lucrative demographic consumer segment. Suppliers will therefore likely concentrate their efforts on these two groups.”

These days it is very important to be a business that is socially responsible and takes into consideration the environment from the manufacturing to where I get my products. It would also be important to be vegan and cruelty free.


Hypothesis:

            I am creating a fragrance designed to be sold to the younger adult crowd. Ages 18-24. The fragrance will evoke sweet and floral scents that will make the women feel feminine, confident and sexy while they have it on. This long lasting fragrance is designed to wear everyday or for those special occasions. By making a impressive presentation for the packaging and bottle, I believe it will entice women to try the fragrance.

Consumer Target Market, Demographics and Psychographics.



“Forget Me Not” target market is the young, smart, creative, confident woman. She is comfortable in all aspects of her being. She is free and adventurous, sweet to tough to tomboy to romantic. A girl who likes to keep busy and push life to its limits, with traveling and hanging out and everything in between. “Forget Me Not” is for every type of young girl who lives any kind of lifestyle. Some examples are “Meadow” the bohemian girl, “Candy” the sweet and lacey girl, “Lou” the tom-boy, “Sandy” the beach girl, “Ginger” the sexy body-con girl, and "Molly" the classic retro girl. 

"Fragrance Sector: Must-read Reports and Statistics." How the Fragrance Market Is Evolving. N.p., n.d. Web. 14 Apr. 2015.