The 4P Executive Summary
Marketing Strategy for COVERGIRL
Principles of Marketing- MKTG 3200
Dr. Kelly Price
May 1, 2013
The 4P Executive Summary: Cover Girl
My topic I have chosen for the 4P executive summary is Cover Girl. Cover Girl is an American cosmetics brand founded in 1958 in Baltimore, Maryland, by the Noxzema Chemical Company, (later called Noxell) and acquired by Procter & Gamble in 1989. The company launched six products to start and then slowly began to branch out their product line. Cover Girl is easily identifiable with their popular tagline, “Easy, Breezy, Beautiful, Cover Girl”. As stated by Shilpa, “After this marketing campaign, the Cover Girl cosmetics improved its position in the world of cosmetics and personal care” (SHILPA, 2012). Now, Cover Girl has really identified who, what, when, and where to market their products, as well as acquiring the spot for best-selling mass market cosmetic brand in the United States and a very distinguished spot in the teenage marketplace. Product
It is very important to understand Cover Girl’s products. Grewal and Levy state, “A product is anything that is of value to a consumer and can be offered through a voluntary marketing exchange (Levy, Product, Branding, and Packaging Decisions, 2012). There are all different kinds of products, but the category Cover Girl falls under is shopping products/services. Cover Girl is not the only cosmetic brand available and many consumers spend a fair amount of time comparing Cover Girl to other cosmetic brands. Cover girl’s main goal is just like any other companies. What is the customer looking for in our products? First, Cover girl had to identify their target market and they did so: Women. Cover Girl looked towards women seeking beauty and skin care. Cover girl defines their core customer value, by stating that Cover girl products are easy, they make you beautiful, consist of soft texture that smooth’s your skin, you feel refreshed not oily, and they have the best quality. Cover girl’s mission statement says that every woman can be a Cover Girl, because we all want to look and feel beautiful with the right, affordable makeup. This marketing approach for selling the products is smart and strategic! Most women look at posters, billboards, and TV commercials that Cover girl produces and wish that in some way they could look like that. Although many will not admit that, it still crosses their mind and Cover girl gains a lot of women to their products by running this ad campaign that every woman can be a Cover girl.
Cover girl has a wide product mix (which is all the products that Cover Girl offers). Cover Girl offers six product lines (breadth), and multiple products within each product line (depth). Cover girl designs their products on what is trending in today’s fashion. Technology really helps the company to figure out what new products to bring to the market. Too much breadth is costly for the company and sense Cover girl has a distinct audience they have to be careful about what new products to market. According to Cover Girl.com, “Cover girl has recently added new products lines such as Outlast Stay Fabulous 3-in-1 Foundation, Clump Crusher by Lash blast Mascara, and CG Smoothers BB Cream” (COVERGIRL, 2013). These products are increasing the breadth for Cover girl, but what is neat about these products is that they have simply been updated. These products are already on the shelf, but this new line Cover girl carries just has additional features that the old products do not. Cover girl has also had to decrease some of their items in order to add new items. Some of their dismissed products include: Cheekers Bronzer, Clean Makeup original, Tanfastic Bronzer, Outlast Smooth wear All-Day Eyeliner, and Outlast Lip stain. Cover girl’s website provides a page where you can look up the old product you have and they will show you what the new product looks like.
A company will either live or...
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