Marketing and Perfume

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Contents
1. Introduction

2. Why Missha
1) Introduction of Missha
2) Background of Missha
-Management Philosophy
3) Why chose Missha as target company

3. Market Condition
1) The Condition of Perfume Market
2) Market Survey
3) Survey Analysis
-Needs and wants of Consumers

4. Competitor
1) Main Competitor of L’EAU De MISSHA
2) Comparison with Competitor

5. Problems of Current Marketing

6. Solution
-New advertisement based on problem solving

1. Introduction
In the market, it is easy to find problems of marketing strategy of certain product. However, since we are used to the advertisement or the marketing strategy, it is hardly to recognize uncomforting. Among many choices, such as vitamin pills, our team found Korean perfume market is very interesting and attractive. In terms of interesting and attractive means that by the market seems to have potential to develop and grow like any other cosmetic market.

2. Why Missha
1)Introduction of MISSHA
The first domestic online cosmetic brand, MISSHA, now they have 2 million members and MISSHA is being loved because of the low price. Cosmetic specialty stores are now decreasing because of the internet shopping mall recently, and vitalization of the door-to-door sales, and the development of home shopping. As a result, the cosmetic specialty stores in 1990’s 80% of the maket share now became 38%. This can be explained with the changes in distribution channels of the domestic cosmetic industry. The appear of the ‘MISSHA’, the most cheapest cosmetic products, which cannot be found in the cosmetic market in the past, was a new hit in Korea. MISSHA is attracting the young women(the main target customers) with cheap price. And this popularity is increasing, starting with the online sales, and they opened the MISSHA’s offline store base on their popularity.

2) The background of MISSHA
In 2000, they successfully had grown because of the interactional communications conclusion, by starting with the online shopping mall. Regarding the thoughts such as "cosmetics should be expensive", "They should apply to the customers emotions." They wanted to provide the cheap, so that the users feel it the cosmetics such as the necessity. The contents of the cosmetics are important, but, MISSHA thought that they couldn't find the reason why the cosmetics should be so expensive.

-Management Philosophy
We found the MISSHA’s management philosophy and the most important thing was the customer satisfaction. The second one was Passion and challenge. The third one is to attract the creative human resource to contribute their competency with loyalty. The final one is to be honest and trust each others, and contribute to the society such as doing the volunteer-work(service).

3) Why chose Missha as target company
By observing the trends, we definitely agree that MISSHA made a big issue in the cosmetic market. We wanted to know what is the advantages and problems of the products that MISSHA made, and wanted to suggest the solution, and make the brand image more positive. And also make an advertisement based on our analysis.

3. Market condition
1) The Condition of Perfume Market
There were two opinions by the interested parties. One opinion is the low-price cosmetic boom that MISSHA bring to the market was just a twinkle effect because of the recession, and the other opinion is MISSHA made a new blue ocean market. And that’s why after MISSHA appeared, the following low-price cosmetic brands had occurred too. Just as The face shop, Etude, Skin food something like that. To start with, we would like to explain about the characteristics of the perfume. In Western culture, perfume is known as daily usage product. On the other hand, in Korean culture, it has an image of luxury product instead of daily, and especially people do not buy perfume for themselves. This fact is easy to recognize by analyzing consuming habit of Korean consumers and the perfume market. More...
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