Revlon Strategic Plan
I. BACKGROUND OF THE STUDY
Revlon Inc. is a world leader in cosmetics. It was formed in 1932 by brothers Charles and Joseph Revson and Charles Lachmann with a $300 investment. During Revson’s time, a near monopoly on beauty parlor sales was developed brought about by door-to-door sales of nail polish. He expanded into the lipstick market with the slogan “Matching Lips and Fingertips”. Thus, after six years the small nail Enamel Company transformed into one of the most recognizable brands and companies in the world. After the death of Charles Revson, Michel Bergerac took over and built up the pharmaceutical side of the business. As a result of this, Revlon lose its ground in cosmetics. Thereafter, Ronald Perelman, chairman and CEO of MacAndrews and Forbes, made five offers to purchase Revlon, took over the company for $1.8 Billion and placed it back to its roots as a manufacturer and seller of cosmetics and fragrances. As of now, Revlon is in peril and is attempting to reduce expenses but continued to struggle with their debt reaching almost $2.3 Billion.
II. STATEMENT OF THE PROBLEM
The researchers aim to determine the following problems faced by Revlon: 1. What industry does Revlon belong to? 2. What must be done to improve the Research and Development Division of Revlon? 3. How to improve the financial condition, specifically the debts, of the company? 4. Which market segment must Revlon target in the Philippines? 5. What are the applicable and effective marketing strategies for the Philippine market? III. OBJECTIVE(S) This study aims to address the aforementioned problems by providing information about threats, opportunities, weaknesses and strengths of Revlon and making use of this information to achieve the following: 1. Identify the industry where Revlon belongs to base on the needs of the consumers. 2. Improve the Research and Development of the Company within the next two (2) years. 3. Improve the Debts
Revlon Inc. is a world leader in cosmetics. It was formed in 1932 by brothers Charles and Joseph Revson and Charles Lachmann with a $300 investment. During Revson’s time, a near monopoly on beauty parlor sales was developed brought about by door-to-door sales of nail polish. He expanded into the lipstick market with the slogan “Matching Lips and Fingertips”. Thus, after six years the small nail Enamel Company transformed into one of the most recognizable brands and companies in the world. After the death of Charles Revson, Michel Bergerac took over and built up the pharmaceutical side of the business. As a result of this, Revlon lose its ground in cosmetics. Thereafter, Ronald Perelman, chairman and CEO of MacAndrews and Forbes, made five offers to purchase Revlon, took over the company for $1.8 Billion and placed it back to its roots as a manufacturer and seller of cosmetics and fragrances. As of now, Revlon is in peril and is attempting to reduce expenses but continued to struggle with their debt reaching almost $2.3 Billion.
II. STATEMENT OF THE PROBLEM
The researchers aim to determine the following problems faced by Revlon: 1. What industry does Revlon belong to? 2. What must be done to improve the Research and Development Division of Revlon? 3. How to improve the financial condition, specifically the debts, of the company? 4. Which market segment must Revlon target in the Philippines? 5. What are the applicable and effective marketing strategies for the Philippine market? III. OBJECTIVE(S) This study aims to address the aforementioned problems by providing information about threats, opportunities, weaknesses and strengths of Revlon and making use of this information to achieve the following: 1. Identify the industry where Revlon belongs to base on the needs of the consumers. 2. Improve the Research and Development of the Company within the next two (2) years. 3. Improve the Debts