Conduct a Market Research: Multi Brand Comestic/Perfume Store
Requirements:
– The Store has to be located in Miami, Florida.
– The Store has to sell different cosmetic brands: REVLON, COVERGIRL, LOREAL, MAYBELLINE, NEUTROGENA, STEE LAUDER, CLINIQUE, MAX FACTOR, CHANNEL ETC.
– The Store must sell all major perfume brands: Gucci, Carolina Herrera, Channel, Hugo Boss, Calvin Klein, Oscar de La Renta, Dior, Versace, Ralph Lauren, Tommy, Lancome, Yves Saint Laurent, Givenchy, etc.
– The target market must be latin women
– Even though tourists are a good target market in Miami, the store should focus more in local women.
– The Store must have a service space where the company will offer make up, brows services and skin care services
– The store must have online presence and sell via internet
The store should sell also by catalogues.
The study should include and be designed to address several questions:
– Industry Analysis
– Who is the Target Market?
– What are the market needs?
– What are the major distribution channels?
– Which beauty products and beauty services potential clients want?
– Who are the major competitors?
– What should be the company’s competitive advantage?
– What should be the marketing strategy and price strategy?
– What are the General External Environment, opportunities and threats in the following environments • Economic • Demographic • Sociocultural • Political–Legal •
Refer to the company as “The Store”