Boyet, Hoover, and Furr Advertising
To: Natural Glam
From: Boyet, Hoover, and Furr Advertisement
Date: 11th June
Subject: Recommendation for a new makeup line
Introduction
During our recent business meeting with Natural Glam, we discussed the desire for a natural and bold new makeup line. Natural Glam Industries has hired Boyet, Hoover and Furr Advertisement to provide research on four different competitors. Our company will be assisting in the development of their new website. Natural Glam seeks to become the leading provider and distributor of all makeup brands.BackgroundIn making Natural Glam the best product among fellow competitors in the beauty products’ market, there are various variables that need to be considered. The analysis is based on foundation, mascara and eye shadow. Therefore, this report will provide results relating to a comparison analysis of four websites making similar products and make recommendations that are to be used in achieving a competitive marketing edge.
The following four competitors were covered: Girl, Bare Minerals, Mary Kay and Merle Norman. Discussion of the ProblemVarious cover models have been used to compare the products from such websites. With the target market being females between 15 and 50 years, several considerations are taken into account with the objective being to make Natural Glam the market leader. To begin with, the price ranges charged by the three different websites are taken into account. Additionally, the various ways through which advertisements are made in addition to the chemical compositions of the beauty products are also measured. The use of social media and distributions of free samples are also extensively discussed. Recommendations Price RangeIn attracting a customer base, business entities lay emphasis on the price mechanism. Though important, price complexities are likely to arise in case various variables are not considered by the business organization. Therefore, Natural Glam will have the added advantage of being in a position to set its prices based on that of fellow competitors. To begin with, Bare minerals charges prices ranging from $28-29 for the foundation. Mary Kay Ash charges between $18 and $22 for the same type of product. Merle Norman, on the other hand, charges $7.74 and, therefore, Natural Glam should charge prices ranging between $7.74 and $29 so that the prices for the foundation products are directly comparable with that of fellow competitors.
With the mascara, Bare Minerals cost range from $12 to $18 whereas Mary Kay has a fixed price of $ 15. Merle Norman, on the other hand, has their mascara costing ranging from $5.24-$10.74. As a result, Natural Glam should price their products as those of Merle Norman so as to attract a massive customer base due to the lower prices. For the eyeshadow products, the prices of Bare Minerals are between $14 and $30. With Mary Kay costs ranging from $8 to $14 and those of Merle Norman at $3.24-$4.49 it can be noted that the prices charged by Merle Norman are the lowest in comparison to other market competitors …
