CoverGirl Outlast All-Day LipColor
Implementation of this tactical plan positions Covegirl to provide services to customers who will purchase Outlast Lipcolor. Several approaches are identified in the tactical plan. To be able to further refine the overall strategies for Outlast Lipcolor, below are precisely the tactical plans that will be incorporated into the marketing plan.
Consolidation of Covergirl makeup products, evaluate each of the existing products for possible consolidation to focus on the growth opportunities for the Outlast Lipcolor, according to the following approaches. oHarvesting and gradual decrease in company support for a product that is not selling that well oPruning to eliminate support for certain makeup products and focus more resources to the growth Outlast Lipcolor oRetrenchment through reduction of expenditures in order to have more funds to promote the Outlast Lipcolor; continue to offer the same product but retreat to the strongest line oSell off weak products that do not fit Covergirl's strategy; this will enable additional funds
Market Penetration through better understanding the existing markets and how Covergirl can attract the age market between 35-64 years Product Development by changing the product and the perception to target the higher end customer base and the older generation Diversify the Outlast by introducing new colors to intrigue the targeted age market segment between 35-64 years of age
Marketing Mix - Covergirl Outlast Lipcolor
Create new product to include development features and new positioning Implement new design of the Lipstick to attract a high end customer to meet the current trends in the fashion industry Evaluate and implement a new package design to a better appearance and a convenient use such as a squeeze tube Carry two types of Outlast Lipcolor to penetrate the targeted market segments; with completely different...