Question

In: Economics

Write a 500-1,000-word paper describing the product and outlining your strategic approach to marketing this product....

Write a 500-1,000-word paper describing the product and outlining your strategic approach to marketing this product. Discuss some of the social and ethical issues for this industry and product. Identify strategies for addressing concerns about these issues with the primary target market

what is it that is expected of me here ? what if my product is for lashes extension targeting young fashionable females ? what are some specifics to highlight?

Solutions

Expert Solution

PRODUCT-

Eyelash extension

PRODUCT DESCRIPTION-

Eyelash extension is a beauty product. This product is used to extend the eyelashes, give them shape and volume. It also enhances the fullness of the lashes which gives the lashes a beautiful look.

BRAND DESCRIPTION-

Beauty Lash is a high-quality eyelash extension which is available in 4 different sizes. It is made from silk giving the lashes a soft feel and a superior quality. The prices are very affordable, especially for young females interested in fashion.

SPECIAL HIGHLIGHTS-

  • High quality
  • Affordable
  • 8 different sizes
  • Lightweight
  • Longer usage life than other lashes made of synthetic

MARKETING STRATEGY-

S.No MARKET STRATEGY DESCRIPTION
1) Product
  • Brand Name- Beauty Lash
  • Variety- 7 sizes (6mm, 8mm, 9mm,10mm, 12mm, 14mm, 16mm)
  • Features- Lightweight, easily applicable, Painless removal, does not shred
  • Product Life- 10 weeks
2) Price
  • 6mm - $3
  • 8mm-$4
  • 9mm- $6
  • 10mm- $8
  • 12mm-$10
  • 14mm-$12
  • 16mm-$15
3) Place The city you live in (USA)
4) Promotion
  • Television Advertisement
  • Free Sample use to beauty parlors
  • Promotions in beauty stores like Sephora through discounts
  • Give samples to influential beauty vloggers so that they can promote the product.

SOCIAL AND ETHICAL ISSUES-

  • The process of production can lead to increased carbon footprints. This can be addressed by using environment-friendly technology and methods of production.
  • Beauty industry involves the usage of various animal products like fur or skin which is environmentally unethical. Thus, a concerned can be raised if the eyelash product uses any animal product in its production.

TARGET MARKET-

Primary target market, in this case, is 'young, fashion inclined girls.' Secondary target market is all other ladies who are interested in buying a good product for fashion.

This product can be marketed to the 'Primary Market' by the following means-

  • Television Advertisements
  • Free Sample use to beauty parlors
  • Promotions in beauty stores like Sephora through discounts
  • Give samples to influential beauty vloggers so that they can promote the product.

The social and ethical issues can be addressed to market this product to the target group in the following ways-

  • Labeling the product package as ' a green product' indicating that the product is made completely through an environment-friendly procedure.
  • Silk is an environment-friendly product because it comes directly from nature. The customers can be told about this through advertisements. This makes the product environment- friendly.

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