Question

In: Economics

1. Sugar bear Hair company background. 2. Challenges that Sugar Bear Hair company are facing to...

1. Sugar bear Hair company background.
2. Challenges that Sugar Bear Hair company are facing to market their products worldwide
3. Assuming that you are the owner of Sugar Bear Hair company, how will you overcome the challenges identified earlier.

write in essay. 150 words

Solutions

Expert Solution

1) These gummy supplements, labeled as "SugarBearHair Hair Vitamins" were launched in 2016, are extensively promoted, and appear to have become popular, particularly on college and high school campuses. The website that promotes them claims that "The majority of our customers found their nails and skin quality improved over time while taking SugarBearHair." However, there doesn't appear to be any published study showing that the specific formula in SugarBearHair improves hair or nails.

US gummy brand SugarBearHair, which has more than two million Instagram followers and is promoted by the Kardashians, was found in a 2016 test on the brand’s gummy products by independent laboratory Labdoor to contain 70% more biotin than claimed on the label, although SugarBearHair has said that 100 lab tests have shown the product is well within US guidelines.

Behind the hair vitamin craze is a young woman from Miami known as Nicole Nightly (real name: Nicole Christine Johnson). 30-year-old Miss Nightly is CEO of Besweet Creations LLC, the holding company that owns the SugarBearHair brand.

2)

a) Beauty supplements are considered as a long-term investment which won’t give immediate results, and for brands, effectiveness and bioavailability of supplement products are their biggest challenges.

b) Some of the biggest changes we’re observing in the market today is the need of consumers to know more about a product they’re putting into their body, rather than just focusing on who is endorsing it.

c) To encourage customers to continue to spend money over the course of the year is a challenge.

d) One of the problems is that consumers might not take supplements regularly or for the recommended time in order to see the effects.

3)If I'm the owner of Sugar Bear Hair company, I will overcome the challenges by focusing on following points :-

1. Be able to sell your vision.

2. Be unafraid to experiment.

3. Let social media do the work. for you.

4. Keep innovating.


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