MARKETING STRATEGY: "MADONNA" BRAND PERFUME
This research presents a marketing strategy for "Madonna" brand perfume. "Madonna" brand perfume is one of a number of cosmetic fragrances developed and marketed for celebrities in this instance, rock video star Madonna Ciccone (Cocks, 1990, pp. 74 75).
Marketing strategy, in the context of this research, includes consideration of market segmentation and target marketing, product positioning, product life cycle, and marketing mix. Further, marketing strategy is considered in the context of two separate national markets Canada and Italy.
"Madonna" brand perfume is produced in the United States. A single marketing strategy, however, is followed for North America Canada and the United States.
The history of the cosmetics industry can likely be traced to some of the very earliest days of civilization. It was in the last half of the nineteenth century, however, when toiletries and cosmetics began to be produced and marketed on a mass scale, as opposed to being concocted in essentially local establishments. In 1880, North America's largest cosmetic firm, Avon, was founded.
Industry sales in 1990 were $11.4 billion, which represented a 9.6 percent increase over the $10.4 billion of 1989 (Royce, 1991, p. 815). From 1987 through 1990, industry sales grew by 34.1 percent, and by 1993 should near $15 billion, a gain of 31.6 percent over 1990 levels (Royce, 1991, p. 815).
Cosmetics are, by and large, discretionary products. Thus, retail sales are heavily influenced by both advertising and new product introductions (Standard & Poor's, 1990, pp. H37 H43). Product differentiation through advertising is essential in the successful marketing of cosmetics. Cosmetics, however, are relatively recession proof, and demand tends to remain strong during economic downturns (Royce, 1991, p. 815).
In the contemporary market, skin care products are strongest, while fragrances are wea...