Portfolio: Park Avenue Skin Care
Comprehensive Marketing Plan
By: Linda S. Hollands
Colorado State University Global Campus
Module 8: Critical Thinking
Instructor: Dr. Eva Ananiewicz
October 22, 2012
II. Situation and analysis
a) Market Objectives – Understanding the various needs of the people b) Consumer Buying Habits
c) Target Market – Women 18 years and up
IV. SWOT Analysis
V. Resource Requirements
Park Avenue Skin Care Comprehensive Marketing Plan
Park Avenue Skin Care was founded in 2000 with the knowledge that there was a growing demand for all-natural skincare products around the world. The company was started by dermatologists, plastic surgeons and chemists that worked together to develop top quality, plant-based skincare products under the company name Park Avenue Skin Care. The idea behind the company was to allow skin to stay fresh and young while delaying the natural aging process in a growing population. Park Avenue Skin Care has grown and now markets over 500 products designed to provide the best formulated product to prevent and treat signs of aging. In addition, it also targets a broader consumer base with a strong appeal to a younger generation encouraging them to take care of their skin now. The company identifies itself with all natural products and being “green,” not only for the environment, but for the health of its clients as well. Park Avenue Skin Care believes in innovation, capturing trends, and creating brands that enhance the lifestyles of its customers.
Situation and analysis
Canadians feel that beauty is not only skin deep. They feel that their skin is one of the most important accessories. As a result, the cosmetic and skincare industry in Canada has become the fourth most important and largest consumption industry in the country. Canada’s trends have turned to increased importance on skin care and the key consumer for this market is the baby-boomer generation. This generation has come of age and is now demanding products to reduce the physical impacts and signs of aging.
The Canadian cosmetics and skin care market is served mostly by imports from the United States; having over sixty-seven percent share and is the dominate import source (Bissi, 2011). The consumption of skin care products remains consistent in terms of value and volume; the trends have created a shift from prestige to mass products, allowing women to acquire high end products at more affordable prices. The status of the salon exclusive product does not exist in Canada.
“Canada is ranked as the twenty-second largest cosmetic and skincare market in the world with an annual sales of $USD 4.43 billion” (Bissi, 2011). Canada’s demand for skincare products has shown continued growth over the past several years with predicted continuation of growth over the next decade with the largest single growth area in sun related skin care. Currently the largest suppliers of skincare products in Canada are imports. It demonstrates an opportunity to move into the market without concern for national branding. Additionally, Canadians hold a high preference for American made products and with the existence of NAFTA (North American Free Trade Agreement), there are very few hindrances for an American Company to expand into Canada. Canada’s culture has been heavily influenced by European culture and traditions, and it has also been influenced by American culture. They have two official languages French and English, although English is the more common. This could be due to strong influences from both the French and British Cultures. Canada is considered to be very diverse, progressive...
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