Cosmetics Business Plan, Assignments of Business Administration

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CHAPTER 1 - EXECUTIVE SUMMARYCHAPTER 1 - EXECUTIVE SUMMARY

Overview of the planOverview of the plan

Beauty and beauty products have always found a favorable audience and continue to beBeauty and beauty products have always found a favorable audience and continue to be popularpopular andand soughtsought afterafter products,products, thusthus makingmaking beautybeauty andand cosmeticcosmetic productsproducts aa seriousserious businessbusiness opportunityopportunity thatthat isis witnessingwitnessing aa steadysteady andand consistentconsistent growth.growth. ThisThis growthgrowth andand demand for cosmetic products is seen more so now especially in the times of social mediademand for cosmetic products is seen more so now especially in the times of social media platforms,platforms, videovideo blogsblogs andand Instagram,Instagram, whenwhen everyevery newnew cosmeticcosmetic productproduct isis tried,tried, tested,tested, promoted and advertisedpromoted and advertised via several influencersvia several influencers and celebrities.and celebrities.

Starting a fashion businessStarting a fashion business isis a good opportunity to consider for aspiring entrepreneurs.a good opportunity to consider for aspiring entrepreneurs. Cosmetics business is evergreen & popular sector that has several new products beingCosmetics business is evergreen & popular sector that has several new products being introduced routinely and is something that most individuals require routinely.introduced routinely and is something that most individuals require routinely.

Cosmetics are merchandise and solutions which are used in skin care, nails, hair care andCosmetics are merchandise and solutions which are used in skin care, nails, hair care and porespores and sand skinkin colorationcoloration thatthat dealdeal with thwith them, enhem, enhanceance porespores andand skin,skin, hair,hair, nails,nails, skinskin colorcolor and improve even extra the general look.and improve even extra the general look.

UmbUmbrellrellasas insiinsidede the cosmetthe cosmeticsics busibusiness haveness have thrthreeee vitvitalal areareas. Theyas. They conconsist ofsist of colocolourur cosmeticosmetics, also referred tocs, also referred to as make-up, fragrancesas make-up, fragrances, and, and skin care. Although these regions areskin care. Although these regions are carefully associated, they fall inside the non-public beauty routines of various consumers.carefully associated, they fall inside the non-public beauty routines of various consumers.

It is clear that the cosmetics enterprise is usually one of the maximum worthwhile things toIt is clear that the cosmetics enterprise is usually one of the maximum worthwhile things to start a business. And meaning that the demand for beauty and private care merchandisestart a business. And meaning that the demand for beauty and private care merchandise remains consistent in unique segments of the populace.remains consistent in unique segments of the populace.

By starting a cosmetics business in India, we are able to meet this demand by way ofBy starting a cosmetics business in India, we are able to meet this demand by way of promotingpromoting aa widewide rangerange ofof merchandisemerchandise inin allall associatedassociated classesclasses oror withwith thethe aidaid ofof focusingfocusing entirely on selling cosmetics.entirely on selling cosmetics.

Online StoreOnline Store

Another manner to run a cosmetics business is to open a web save. Online product incomeAnother manner to run a cosmetics business is to open a web save. Online product income are actually a completely successful means of doing enterprise and feature the advantage ofare actually a completely successful means of doing enterprise and feature the advantage of

acachiehievivingng aa hughugee tatargergett mamarkrketet eaeachch nanatitionaonallylly andand ininteternarnatiotionalnallyly.. ThThee on-on-lilinene shoshopp additioadditionally permits you tonally permits you to circulatcirculation movies andion movies and tutorialtutorials ons on new product launches and thenew product launches and the way to use a few merchandises, in addition to create tutorials. However, the web shop doesway to use a few merchandises, in addition to create tutorials. However, the web shop does no longer have a non-public sense and customers may additionally hesitate to shop for theno longer have a non-public sense and customers may additionally hesitate to shop for the product without physicallyproduct without physically checking or testing it.checking or testing it.

Also, businesses such as anti-aging clinics, aromatherapy, beauty salons, beauty spa, hairAlso, businesses such as anti-aging clinics, aromatherapy, beauty salons, beauty spa, hair salon and Even make-up artists, along-side cosmetic shops, are a part of the cosmeticssalon and Even make-up artists, along-side cosmetic shops, are a part of the cosmetics commercial enterprise and may be seen as a way of doing enterprise.commercial enterprise and may be seen as a way of doing enterprise.

Each cosmetics commercial enterprise model has its personal strengths and weaknesses,Each cosmetics commercial enterprise model has its personal strengths and weaknesses, however notwithstanding the version selected to run the enterprise, the cosmetic industry andhowever notwithstanding the version selected to run the enterprise, the cosmetic industry and the cosmetics business are worthwhile and growing rapidly. It's a employer.the cosmetics business are worthwhile and growing rapidly. It's a employer.

Regardless of the form of cosmetics business, a key factor to do not forget is the preciseRegardless of the form of cosmetics business, a key factor to do not forget is the precise basicsbasics ofof runningrunning anan internetinternet oror offlineoffline business,business, makingmaking suresure hithit start-upstart-up andand worthwhileworthwhile operation and growth of the enterprise. It way that you want to bear in mind critical info. Theoperation and growth of the enterprise. It way that you want to bear in mind critical info. The most simple and crucial of them is growing a marketing strategy for a cosmetics shop.most simple and crucial of them is growing a marketing strategy for a cosmetics shop.

Entrepreneur in Beauty & Cosmetic industryEntrepreneur in Beauty & Cosmetic industry

One of theOne of the industriindustries ises is booming is the beauty andbooming is the beauty and cosmetcosmetic industry, wherein people alwaysic industry, wherein people always had a notion of opening a small parlor in their streets. Women have made an attempt andhad a notion of opening a small parlor in their streets. Women have made an attempt and proveprove thatthat beautybeauty industryindustry isis muchmuch moremore advancedadvanced andand playsplays aa rolerole inin careercareer growthgrowth too.too. They have accepted challenges, the roles and responsibilities coming in their way and at theThey have accepted challenges, the roles and responsibilities coming in their way and at the same time building their own identity and reputation in this industry.same time building their own identity and reputation in this industry.

Beauty and Cosmetic industry plays an important role and generating lot of job opportunitiesBeauty and Cosmetic industry plays an important role and generating lot of job opportunities to the people who have keen interest to make others feel beautiful. The demand of modernto the people who have keen interest to make others feel beautiful. The demand of modern women is increasing in a way that they are becoming conscious about their skin, hair andwomen is increasing in a way that they are becoming conscious about their skin, hair and their overall appearance. Therefore, many entrepreneurs are coming up with new ideas andtheir overall appearance. Therefore, many entrepreneurs are coming up with new ideas and innovation to make their clients happy by satisfying their needs and requirements. The levelinnovation to make their clients happy by satisfying their needs and requirements. The level

of income is also on higher scale since men and women are ready to pay for the services.of income is also on higher scale since men and women are ready to pay for the services.

ChallengesChallenges

Each and every industry has its own set ofEach and every industry has its own set of challenchallenges and soges and so do beauty industry has its own.do beauty industry has its own. It is not so easy to own a salon if you really aspiring to make it a brand. It is one of theIt is not so easy to own a salon if you really aspiring to make it a brand. It is one of the seasonal businesses during winters when most of the Indian marriage takes place. One cannotseasonal businesses during winters when most of the Indian marriage takes place. One cannot bebe reliablereliable duringduring specificspecific monthsmonths ofof thethe yearyear butbut havehave toto thinkthink overboardoverboard toto getget profitsprofits during off season. The owners have to find out a way to promote their business differentlyduring off season. The owners have to find out a way to promote their business differently

from their competitors in the market.from their competitors in the market. Another set of challenge is what other best services can be provided to your clients. TheAnother set of challenge is what other best services can be provided to your clients. The owner has to beowner has to be involved each and every activity and ensureinvolved each and every activity and ensure things are happening accordingthings are happening according to the plans. Since, the competition is high and one has to be market updated every time to setto the plans. Since, the competition is high and one has to be market updated every time to set a benchmark for their business to grow.a benchmark for their business to grow.

DemandDemand

It is one of the businesses which have its own role in everyone’s life and so its demand is alsoIt is one of the businesses which have its own role in everyone’s life and so its demand is also

high. Indian women are sohigh. Indian women are so obsessed with the latest beauty andobsessed with the latest beauty and cosmeticosmetic treatments that theyc treatments that they prefer not to avoid it at anyprefer not to avoid it at any cost.cost.

Due to which every salon isDue to which every salon is offering their best services and treatinoffering their best services and treating ladies according to theirg ladies according to their needs. Many Indians, get attracted towards the latest enhancements done by celebrities andneeds. Many Indians, get attracted towards the latest enhancements done by celebrities and they also aspire to have the same treatment for themselves which is on-going trend in thethey also aspire to have the same treatment for themselves which is on-going trend in the market. Owners definitely keep themselves upgrade and the result is expansion of businessmarket. Owners definitely keep themselves upgrade and the result is expansion of business due to a lot of demands from the clientsdue to a lot of demands from the clients

Identify Your Business Niche and AudienceIdentify Your Business Niche and Audience

There is the entire world of cosmetics. Therefore, with a view to understand your audience,There is the entire world of cosmetics. Therefore, with a view to understand your audience,

you should outline your very own course into the enterprise. For example, in case you chooseyou should outline your very own course into the enterprise. For example, in case you choose

to specialize in true private care products, your goal customers may be younger orto specialize in true private care products, your goal customers may be younger or

commercial enterprise-elegance. That stated, it might be clean to analyze your tastes andcommercial enterprise-elegance. That stated, it might be clean to analyze your tastes and

possibilities. Most importantpossibilities. Most importantly, you could examine theirly, you could examine their developments and finddevelopments and find out how theyout how they

purchase. This is essential inpurchase. This is essential information that you can uformation that you can use to take your businessse to take your business to theto the

subsequent degree.subsequent degree.

When your cosmetics business plan targets a specific target audience, matters unexpectedlyWhen your cosmetics business plan targets a specific target audience, matters unexpectedly

start to pass properly. This will give you a very good concept of a advertising strategy thatstart to pass properly. This will give you a very good concept of a advertising strategy that

might paintings. After all, in case you pick out skin care for older humans as your enterprisemight paintings. After all, in case you pick out skin care for older humans as your enterprise

niche, you could no longer need to apply a marketing approach that works frequently forniche, you could no longer need to apply a marketing approach that works frequently for

young people.young people.

Develop a Manufacturing StrategyDevelop a Manufacturing Strategy

SoSo,, ArAree yoyouu gogoiningg toto prprododucucee yoyourur pepersrsononalal cocosmsmeteticics?s? IfIf soso,, yoyouu neneeded toto hahaveve aa manufacmanufacturing approachturing approach. There are normally. There are normally options. You can pick to fabricaoptions. You can pick to fabricate the productte the product directly from the laboratory. Second, you may lease the producer to do the difficult work todirectly from the laboratory. Second, you may lease the producer to do the difficult work to your behalf. In either case, it's miles crucial to have a plan to make sure a easy glide ofyour behalf. In either case, it's miles crucial to have a plan to make sure a easy glide of

products in your commerciaproducts in your commercial enterprise.l enterprise.

EaEachch ofof ththee 22 strstratategiegieses hashas ititss ststrenrengtgthshs andand weweaknaknessesses. Fores. For exaexampmplele,, inin cacasese youyou manufacture cosmetics in the laboratory, you may effortlessly control pleasant manipulate.manufacture cosmetics in the laboratory, you may effortlessly control pleasant manipulate. On the disadvantage, this can be a financially difficult alternative. On the other hand, it couldOn the disadvantage, this can be a financially difficult alternative. On the other hand, it could bebe lessless expensiveexpensive toto paintingspaintings withwith thethe manufacturer.manufacturer. InIn thisthis situation,situation, it'sit's milesmiles crucialcrucial toto devidevisese cruccrucialial comcomponeponentsnts alonalongg witwithh logilogististics,cs, contcontractractualual obliobligatigationsons andand pripricece rangrange.e. Regardless of your preference, ensure it works nicely for your enterprise model and is inRegardless of your preference, ensure it works nicely for your enterprise model and is in keeping with your mission and vision.keeping with your mission and vision.

Cosmetics Business Plan; Keep an Eye on FinancingCosmetics Business Plan; Keep an Eye on Financing

If yourIf your purppurpose isose is to create ato create a cosmcosmetieticscs busibusiness empiness empire, youre, you may nomay no longlonger want toer want to havehave 1,000,000 greenbacks in capital. However, securing investment to maintain your commercial1,000,000 greenbacks in capital. However, securing investment to maintain your commercial enterprienterprise jogging isse jogging is just as critical asjust as critical as having a solidhaving a solid cosmetcosmetics business plan. Assuming youics business plan. Assuming you

have already got capital, the subsequent step is to analyze the monetary impact of severalhave already got capital, the subsequent step is to analyze the monetary impact of several importimportant actions, together withant actions, together with manufacmanufacturing andturing and retail techniqueretail techniques. Thes. The idea isidea is to maintainto maintain track of your cash to ensure easy operation.track of your cash to ensure easy operation.

There are numerous ways to finance your commercial enterprise. For one component, youThere are numerous ways to finance your commercial enterprise. For one component, you could pick out a safer alternative and depend on loans from pals and circle of relatives.could pick out a safer alternative and depend on loans from pals and circle of relatives. Second, you could rely upon monetary institutions like banks for coveted sources. The 1/3 isSecond, you could rely upon monetary institutions like banks for coveted sources. The 1/3 is to contain traders and break up the income. The crucial element is to have a economic planto contain traders and break up the income. The crucial element is to have a economic plan that maintains the doors of your business open without significantly affecting your bottomthat maintains the doors of your business open without significantly affecting your bottom line.line.

Develop a Clear and Detailed Financial PrognosisDevelop a Clear and Detailed Financial Prognosis

Detailed economic forecasts should make it less difficult to begin your business. ThinkingDetailed economic forecasts should make it less difficult to begin your business. Thinking about it this way, your business may not be "wealthy", but there are drafts that make it anabout it this way, your business may not be "wealthy", but there are drafts that make it an appealing business for investors. Also, even if you don't have income, you could have a cleanappealing business for investors. Also, even if you don't have income, you could have a clean plan ofplan of what to dowhat to do and howand how to maketo make a profit. Ina profit. In general, econgeneral, economic forecastsomic forecasts will providewill provide youyou with a great concept of your logo's ability.with a great concept of your logo's ability.

As the name implies, monetary forecasts are forecasts or instead opinions. Ideally, it's miles aAs the name implies, monetary forecasts are forecasts or instead opinions. Ideally, it's miles a systemasystematic forecast oftic forecast of predictepredictedd economieconomicc developmdevelopments viaents via monetarmonetaryy statemestatements. Younts. You wantwant a record of past enterprise price range, coins flows, and cash flows so that you can predicta record of past enterprise price range, coins flows, and cash flows so that you can predict what you will attain in the future in case you observe a specific cosmetics business strategy.what you will attain in the future in case you observe a specific cosmetics business strategy.

A detailed financial prognosis must include the following elements:A detailed financial prognosis must include the following elements:

 Pro-forma income statementsPro-forma income statements  Pro-forma balance sheetsPro-forma balance sheets  Business cash budgetBusiness cash budget

Its products and services are commercialized in over 50 countries. Up until the end of 2011Its products and services are commercialized in over 50 countries. Up until the end of 2011 the Marketing and R&D areas were separated and did not show great interaction. From 2012,the Marketing and R&D areas were separated and did not show great interaction. From 2012, the decision to unify the areas under a single directorate was made. In 2014, the areas werethe decision to unify the areas under a single directorate was made. In 2014, the areas were again separated and showed noagain separated and showed no integraintegration until thetion until the beginninbeginning ofg of 2015. From that date, great2015. From that date, great effort was made to foster interaction between the areas through procedural and behavioraleffort was made to foster interaction between the areas through procedural and behavioral

initiatives.initiatives.

From the procedural point of view, a series of practices were established to make marketFrom the procedural point of view, a series of practices were established to make market evaluation compulsory prior to the initiation of research projects. Such analysis correspondsevaluation compulsory prior to the initiation of research projects. Such analysis corresponds toto ththee mamarkerkett intintelelliligengencece perperforformemedd byby thethe MarMarkeketitingng dedeparpartmtmentent.. AfAfterter gatgatherheriningg information such as predictions on investment returns, target costs and competitors, amonginformation such as predictions on investment returns, target costs and competitors, among countlecountless others, the project isss others, the project is ranked and then directed toranked and then directed to the R&D team, if approved. Fromthe R&D team, if approved. From the behavioral point of view, the management of both areas has been making efforts to createthe behavioral point of view, the management of both areas has been making efforts to create an environment of greater harmony, trust and transparency, so that thean environment of greater harmony, trust and transparency, so that the flow of information isflow of information is more efficient and differences in perception and concepts are minimizedmore efficient and differences in perception and concepts are minimized..

PRICING MODEL FOR VARIOUS CATEGORIES OF CUSTOMERSPRICING MODEL FOR VARIOUS CATEGORIES OF CUSTOMERS

Challenges in cosmetic product pricingChallenges in cosmetic product pricing

Cosmetics are in the lifestyle and brand business, therefore pricing not only determines theCosmetics are in the lifestyle and brand business, therefore pricing not only determines the profitprofit youyou makemake whenwhen consideringconsidering costs acosts andnd customercustomer preferences,preferences, butbut the prthe priceice cancan suggestsuggest quality or exclusivenesquality or exclusiveness ofs of a cosmetic brand. People respond emotionaa cosmetic brand. People respond emotionally tolly to brands which isbrands which is why customers are willing to pay a higher price for certain branding or characteristicswhy customers are willing to pay a higher price for certain branding or characteristics regardless of the markup price. Price optimization for cosmetics brands is an area whereregardless of the markup price. Price optimization for cosmetics brands is an area where PriceBeam has long experience and expertise. Consumer goods companies benefit from pricePriceBeam has long experience and expertise. Consumer goods companies benefit from price optimization more than any other industry, but at the same time, it is often an incrediblyoptimization more than any other industry, but at the same time, it is often an incredibly challenging task. Cosmetic brands are being increasingly transparent about costs , due to anchallenging task. Cosmetic brands are being increasingly transparent about costs , due to an inincrecreasease inin dedemamandnd forfor trtransansparparencencyy frofromm cucustostomemersrs inin tetermrmss ofof prproduoductct cocostssts andand ingredieingredients, and this leads tonts, and this leads to a greater need to finda greater need to find the optimal price for your cosmetic brandthe optimal price for your cosmetic brand products.products.

One of the most vexing challenges faced by cosmetic brand firms is setting one price thatOne of the most vexing challenges faced by cosmetic brand firms is setting one price that unifies all internal objectives: one price that simultaneously boosts top-line growth, is alignedunifies all internal objectives: one price that simultaneously boosts top-line growth, is aligned with the brand positioning, and increases penetration and growth.with the brand positioning, and increases penetration and growth. The selling format also affects the price setting as well as the purchase decision of customers,The selling format also affects the price setting as well as the purchase decision of customers, in online stores price is always lower than in the physical store. We must find a balance pointin online stores price is always lower than in the physical store. We must find a balance point

between thebetween the relationshiprelationship between e-commercebetween e-commerce market andmarket and physical stophysical store pricing.re pricing. Our pricingOur pricing solution addresses this challenge by using data and statistics to find a price that does just that.solution addresses this challenge by using data and statistics to find a price that does just that. And it works every time.And it works every time.

PriceBeam has worked with companies from a broad range of industries, and we apply thePriceBeam has worked with companies from a broad range of industries, and we apply the best prbest practicesactices from allfrom all industriesindustries when wewhen we help chelp cosmetic firosmetic firms optimizems optimize theirtheir pricing.pricing. In thatIn that way, we continuously improve and innovate our current pricing method, making sure it staysway, we continuously improve and innovate our current pricing method, making sure it stays ahead of the game and is adjusted to prevailing industry trends.ahead of the game and is adjusted to prevailing industry trends.

PRICE POSITIONING & STRATEGYPRICE POSITIONING & STRATEGY

If you need to price a product (or service) in a new market, it makes all the difference in theIf you need to price a product (or service) in a new market, it makes all the difference in the world if you understand customers' willingness-to-pay.world if you understand customers' willingness-to-pay.

Demand / WtP curves like the ones above, show the optimal price point where the curveDemand / WtP curves like the ones above, show the optimal price point where the curve peaks. In this exapeaks. In this example, the best pricemple, the best price to optimize quantityto optimize quantity is 10, whereas theis 10, whereas the optimal price foroptimal price for optimizing revenue is 15.optimizing revenue is 15.

In the old days when research was expensive, this could be difficult to get through aIn the old days when research was expensive, this could be difficult to get through a corporate approval if launching in many markets at once. These days, with cost-effectivecorporate approval if launching in many markets at once. These days, with cost-effective research options from e.g. PriceBeam, the cost of getting these crucial insights should noresearch options from e.g. PriceBeam, the cost of getting these crucial insights should no longer be an issue.longer be an issue.

NEW PRODUCT PRICINGNEW PRODUCT PRICING

Understand consumers' willingness-to-pay for new products, and use such insights toUnderstand consumers' willingness-to-pay for new products, and use such insights to optimize prices when launching innovative products.optimize prices when launching innovative products.

In cosmetics, innovation is crucial for many brands. It is quite common that 20-30% of allIn cosmetics, innovation is crucial for many brands. It is quite common that 20-30% of all productsproducts soldsold areare recentlyrecently launched.launched. CompaniesCompanies spendspend manymany millionsmillions inin launchlaunch marketingmarketing and advertising across multipland advertising across multiple channels. However, they often struggle toe channels. However, they often struggle to set the rightset the right price.price.

WiWithth PrPriceiceBeBeamam's's pripricece resresearearch,ch, youyou cancan tetestst didiffeffererentnt conconceceptspts andand comcommumunicnicatiationon strategstrategiesies before launching, andbefore launching, and understaunderstandnd consumersconsumers'' willinwillingness-to-pgness-to-payay forfor those options.those options.

This provides solid facts and improves the likelihood of success of the launch, when launchThis provides solid facts and improves the likelihood of success of the launch, when launch prices are aligned with vaprices are aligned with value perception of the colue perception of the consumers.nsumers.

MARKET LAUNCH PRICINGMARKET LAUNCH PRICING

Setting the right prices when launching into new markets is often a challenge in cosmeticsSetting the right prices when launching into new markets is often a challenge in cosmetics

comcompanipanies.es. PriPriceBceBeameam helphelpss undeunderstrstandiandingng marmarketket diffdifferenerencesces andand settsettinging optioptimalmal pricpricee pointspoints forfor each.Pricingeach.Pricing Managers,Managers, MarketingMarketing Managers,Managers, andand SalesSales teamsteams oftenoften findfind itit moremore difficudifficult to getlt to get pricing right when launchipricing right when launching ang a product in a new market, as opposed toproduct in a new market, as opposed to pricingpricing the same product in an existing market. In theory existing-market pricing should go throughthe same product in an existing market. In theory existing-market pricing should go through the same steps as new-market pricing and look at value drivers and willingness-to-pay, but inthe same steps as new-market pricing and look at value drivers and willingness-to-pay, but in many situatiomany situations existing markets mean there is a reference point to base thens existing markets mean there is a reference point to base the price on. Such aprice on. Such a reference point is lacking if pricing for a new market.reference point is lacking if pricing for a new market.

CHAPTER 5 - MARKETING PLANCHAPTER 5 - MARKETING PLAN

Target customersTarget customers

1. Start Selling To Medium Size Retail01. Start Selling To Medium Size Retail StoresStores

Do not be tempted to include the large big-box retailers when thinking of selling yourDo not be tempted to include the large big-box retailers when thinking of selling your cosmeticosmetics products. Your small company may not be readycs products. Your small company may not be ready for the bigfor the big retailretailers. Some of theers. Some of the larger retailers like to buy from the companies that are selling products only to the big stores.larger retailers like to buy from the companies that are selling products only to the big stores. So, choose small to mid-size retailers as your first clients. The interested retailers will askSo, choose small to mid-size retailers as your first clients. The interested retailers will ask you for product samples. This may prove to be costly for small cosmetic companies but if theyou for product samples. This may prove to be costly for small cosmetic companies but if the medium-size stores agree to sell your line of products, it will give a boost to your businessmedium-size stores agree to sell your line of products, it will give a boost to your business right away.right away.

Make it sure that yourMake it sure that your small company has a dedicated page for yoursmall company has a dedicated page for your cosmeticosmetic products onc products on allall the popular social channels. However, your social media page must be attractive in terms ofthe popular social channels. However, your social media page must be attractive in terms of its combined use of text and images.its combined use of text and images.

Your small cosmetic business can afford to have a professionally created social media pageYour small cosmetic business can afford to have a professionally created social media page with crowdsourcing sites. Designhill is one such leading crowdsourcing marketplace wherewith crowdsourcing sites. Designhill is one such leading crowdsourcing marketplace where hundreds of designers will offer you many amazing design ideas at a low price for your smallhundreds of designers will offer you many amazing design ideas at a low price for your small business.business.

5. Have A Unique Logo05. Have A Unique Logo

All the global brands have one thing in common –All the global brands have one thing in common – unique logosunique logos. Google, Samsung, Coca-. Google, Samsung, Coca- Cola, Pepsi, Nike, Starbucks and many more brands of global reputation are identified byCola, Pepsi, Nike, Starbucks and many more brands of global reputation are identified by ththeieirr mememomorarableble loglogos.os. ThThisis clecleararlyly estestablablisisheshes thethe imimporportatancence ofof lologosgos forfor busbusininessess promotion.promotion.

MARKET SEGMENT –MARKET SEGMENT – GEOGRAPHY MENTIONEDGEOGRAPHY MENTIONED

On the basis of geographyOn the basis of geography

oo North AmericaNorth America oo EuropeEurope oo Asia-PacificAsia-Pacific

oo Rest of the World (ROW)Rest of the World (ROW)

The cosmetics market has grown drastically in current years. The marketplace is pushed byThe cosmetics market has grown drastically in current years. The marketplace is pushed by the financial development of rising markets, specially China and Brazil. Cosmetics have growthe financial development of rising markets, specially China and Brazil. Cosmetics have grow to be an critical part of ordinary lifestyles. These cosmetics are categorized and syntheticto be an critical part of ordinary lifestyles. These cosmetics are categorized and synthetic

keeping in mind the policies exact via government corporations to make sure the safety of thekeeping in mind the policies exact via government corporations to make sure the safety of thegoods.goods.

Avon Products, Inc. (USA), The EstéeAvon Products, Inc. (USA), The Estée Lauder CompanieLauder Companies, Inc.s, Inc. Major market players whichMajor market players which includes (USA) and L'Oreal Group (France) favor to boom improvement strategies whichincludes (USA) and L'Oreal Group (France) favor to boom improvement strategies which includes the launch of new products and mergers and acquisitions. Strengthen your globalincludes the launch of new products and mergers and acquisitions. Strengthen your global presencepresence andand youryour productproduct portfolio.portfolio. TheThe principalprincipal gamersgamers provideprovide cosmeticscosmetics basedbased onon chchanganginging fafashishionon trtrenends,ds, inninnovaovatitionon updupdatateses andand cuscustomtomerer optoptionions.s. LeLeadiadingng coscosmemetiticc producersproducers cognizancecognizance onon productproduct advancement,advancement, versatility,versatility, safety,safety, andand otherother appropriateappropriate homes.homes.

The cosmetics market is divided in step with type, distribution channel and geography.The cosmetics market is divided in step with type, distribution channel and geography. Depending on the sort, it includes skin care products, hair care products, fragrances andDepending on the sort, it includes skin care products, hair care products, fragrances and deodorants, shade cosmetics, non-public hygiene products, oral hygiene products, tub anddeodorants, shade cosmetics, non-public hygiene products, oral hygiene products, tub and bathe merchandise,bathe merchandise, soaps, merchandisesoaps, merchandise for sun carefor sun care and more. Market sand more. Market segmentation basedegmentation based onon didistrstribibutiutionon chchannannelsels coconsinsistssts ofof supsupermermarkarketets,s, dedeparpartmtmenentt stostoresres,, spespecicialtaltyy shoshopsps,, cosmetologists, pharmacies / drug shops, and on-line retailing. Geographical marketplacecosmetologists, pharmacies / drug shops, and on-line retailing. Geographical marketplace segmentation includes North America, Asia Pacific, Europe, and Rest of the World (ROW).segmentation includes North America, Asia Pacific, Europe, and Rest of the World (ROW).

Step 1. Find Your Top CompetitorsStep 1. Find Your Top Competitors

Even though you might be aware of some of your market leaders, there might be a few you'reEven though you might be aware of some of your market leaders, there might be a few you're missing.For our case study example, we searched for top leading beauty brands. As socialmissing.For our case study example, we searched for top leading beauty brands. As social memediadia isis aa highighlyhly imimpoportartantnt segsegmementnt wiwiththinin ththisis inindusdustrytry,, oneone ofof ththee anaanalylysesses wewe've've performedperformed waswas toto findfind thethe top-performingtop-performing brandsbrands onon socialsocial media,media, byby thethe numbernumber ofof followers.followers.

Step 2. Analyze Your Competitors PopularityStep 2. Analyze Your Competitors Popularity

It’s too complicated and actually impossible to manually track all your competitors’ recordsIt’s too complicated and actually impossible to manually track all your competitors’ records anandd actactivivitity,y, asas mumuchch mamanuanuall webweb scrascrapingping yoyou'du'd bebe doidoing.ng.So,So, evevenen ifif yoyouu knoknoww youryour competitioncompetition, the question remains: how do you find who is the most popular brand in your, the question remains: how do you find who is the most popular brand in your niche?niche?

Most popular =Most popular = most mentionedmost mentioned

Step 3. Identify the Public Perception of CompetitorsStep 3. Identify the Public Perception of Competitors

You must have heard at least once people saying that all publicity is good publicity, as longYou must have heard at least once people saying that all publicity is good publicity, as long as they spell your name right. Or that the only thing worse than being talked about is notas they spell your name right. Or that the only thing worse than being talked about is not

beingbeing talkedtalked about.about. ButBut isis itit reallyreally so?so? HowHow muchmuch doesdoes thethe publicpublic perceptionperception influenceinfluence aa brand's popularity?brand's popularity? Let's find out!Let's find out!

TheThe Sentiment Analysis featureSentiment Analysis feature allowed us to have a better understanding on the publicallowed us to have a better understanding on the public perceptionperception ofof thethe analyzedanalyzed brands.brands. IfIf wewe firstfirst identifiedidentified thethe competitorscompetitors andand lookedlooked forfor thethe

most popular ones, now we can have a look at how they are perceived in the online world.most popular ones, now we can have a look at how they are perceived in the online world.

Step 4. Analyze Your Competitors' Social MediaStep 4. Analyze Your Competitors' Social Media StrategyStrategy

TrTrackackinging mementntioionsns forfor youyourr comcompepetittitoror cancan lealeadd youyou inintoto didiscoscoververinging socsocialial memediadia campaigns, new content ideas, top-performing social channel alongside types of contentcampaigns, new content ideas, top-performing social channel alongside types of content shsharareded onon eaeachch plplatatfoformrm,, plplusus trtrenendidingng hahashshtatagsgs ususeded anandd totopp ininflflueuencncererss foforr eaeachch competitor.For instance, in our case, in the beauty niche, the results might surprise you. Ifcompetitor.For instance, in our case, in the beauty niche, the results might surprise you. If you thought Instagram would be the most used Social Media platform for beauty products,you thought Instagram would be the most used Social Media platform for beauty products, you might be wrong.you might be wrong.

Step 5. Perform an SEOStep 5. Perform an SEO Competitor AnalysisCompetitor Analysis

Knowing how to analyze your SEO competition is an important step in determining yourKnowing how to analyze your SEO competition is an important step in determining your overall keyword and SEO strategy. There are many factors involved in the process, andoverall keyword and SEO strategy. There are many factors involved in the process, and without the correct framework, it can get complicated. Here you can find the steps forwithout the correct framework, it can get complicated. Here you can find the steps for thethe SEOSEO compcompetitetitoror anaanalysislysis exexplaplainined,ed, asas clclearear anandd sisimpmplele asas popossissibleble.. WiWithithinn ththee screenshoscreenshot below you can see thet below you can see the main steps that you need to take tomain steps that you need to take to make sure you performmake sure you perform an SEO competitive analysis at the highest level.an SEO competitive analysis at the highest level.

SALES AND PROMOTION STRATERGYSALES AND PROMOTION STRATERGY

Packaging and Creating SetsPackaging and Creating Sets

By placing your product in pretty packages, you can attract more customers to it. HighlightBy placing your product in pretty packages, you can attract more customers to it. Highlight the aspects of your line that make it different from other products; for example, list thethe aspects of your line that make it different from other products; for example, list the different colors that your makeup line consists of on the packaging or the sun protectiondifferent colors that your makeup line consists of on the packaging or the sun protection aspects of the product. Consider packaging some products together in a set to increase sales.aspects of the product. Consider packaging some products together in a set to increase sales.

Make Contact with the IndustryMake Contact with the Industry