About the project
Within a short span of time, the use of cosmetics by Indian consumers has increased significantly with more and more women and men taking greater interest in personal grooming, increasing disposable incomes, changing life styles, influence of satellite television and greater product choice and availability. This cosmetics and personal care industry has been growing at an average rate of 20 per cent for the last few years. The growing Indian cosmetics market offers promising prospects for international brands. The growth rate in the cosmetics market reflects an increasing demand for beauty care products in India. Perfumes and fragrances, skin care, and hair care products are some of the major segments with promising prospects for U.S. companies. Penetration of most cosmetic and toiletries is very low in India. Current consumption of many products is well below that of many countries in Asia. The low market penetration of many cosmetics and personal care products offers room for growth. The urban population with increasing purchasing power is the major force driving demand for cosmetics and toiletries. India is a very price-sensitive market and mass-market products constitute the major part of the cosmetics and toiletries market. India’s import of cosmetics and toiletries and intermediate raw materials is around US$ 120 million, of which the U.S. has a share of approximately 10 percent The research process includes the response received from target audiences (Min age 18yrs- Max -45yrs) through questionnaire for deeper insight with sample size of 100
OBJECTIVE OF THE STUDY
* Help in building a positive association with people thereby enhancing brand personality * How to break the negative connotation of “Being fashionable” * What inspires people to buy Lakme products
* Are people brand loyal to lakme
* To identify the peoples opinion towards Lakme’s products * To offer some finding and suggestions to the company for the improvement of its performance.
RESEARCH AND METHODOLOGY
The research is based on:-
Company Reports& Broachers
Newspapers Articles &journals Data is also gathered by talking to the respondents (Target Audience, understanding their beauty needs, what inspire them to go for the (lakme) brand.
All these factors are the prime criterion for selecting (Which brand??), Short listing and ranking (level of trustworthiness? or most favored) which had helped us for identifying the winner in cosmetics industry.
INTRODUCTION TO COSMETIC INDUSTRY
India, with a population of nearly a billion people, is a country of contrasts. India's urban population is the main engine that fuels the demand for various cosmetic products. The “morphing” of India is subtle and the changes are not visible for the first time visitor. However, the market liberalization process that began in 1991, along with the crowning of three Indians as Miss World and Miss Universe during the preceding four years, have made Indian women conscious of their appearance. Consequently, the cosmetic consumption patterns of Indian women have changed, and this trend is fuelling growth in the cosmetic sector. The Indian cosmetics and toiletries market grew by 8.7% in current value terms in 2001, with value sales amounting to Rs126 billion. The market for cosmetics and toiletries in India is characterized by high volume sales of low-end toiletry products, while at the same time the legendary emerging middle-class has generally been fuelling demand for cosmetics and upper-mass toiletries. Products that are too specialized have yet to be successful on the Indian market. Examples include toners, hand care and other value-added skin care products, bath & shower products and aftershave balm. Only the richest consumers can afford these; indeed, the average consumer may be unaware of their...