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Untitled
Untitled
Rare Beauty
Country of Origin: Southern
Industry: Cosmetics Californian, USA (incorporated in
DELAWARE)
Marketing
The four Ps of marketing are the
Price: Prices for Rare Beauty’s makeup products range
key factors that are involved in from $14-$29. They are more expensive compared to
the marketing of a good or drugstore makeup brands but cheaper than luxury brands.
service. They are in line with their celebrity competitors.
Economic factors
Natural/Physical forces
Technological factors
United States–Mexico–Canada
Agreement (Free Trade Agreement)
All cosmetic products exported by U.S.
companies to the EU must comply with
the EU Cosmetics Regulation.
Economic
Economic factors have a significant
impact on how an organisation does
business and also how profitable they
are. Factors include – economic growth,
interest rates, exchange rates, inflation,
disposable income of consumers and
businesses and so on.
Currency Volatility
Differential pricing according to
different geography
Social
Also known as socio-cultural factors, are the
areas that involve the shared belief and attitudes
of the population. These factors include –
population growth, age distribution, health
consciousness, career attitudes and so on. These
factors are of particular interest as they have a
direct effect on how marketers understand
customers and what drives them.
We all know how fast the technological landscape changes and how this
impacts the way we market our products. Technological factors affect
marketing and the management thereof in three distinct ways:
- New ways of producing goods and services
- New ways of distributing goods and services
- New ways of communicating with target markets
Analysis
Threat:
Strong Competition from Big
Opportunity: brands like Kylie Cosmetics, Fenty
Use of other celebrities (potential Beauty, Estee Lauder, L'Oréal and
collaboration with other celebrities) others
Expand to new products Competition from drug store brands
New product launches at big events Change in tastes of consumers
Substitute products
Micro-Environment
5.
https://blog.oxfordcollegeofmarketing.com/2014/11/04/the-i
mpact-of-micro-and-macro-environment-factors-on-marketin
g/
6. https://www.iedunote.com/marketing-environment#:~:text=T
he%20micro%2Denvironment%20refers%20to,%2C%20com
petitors%2C%20and%20the%20public
7. https://www.investopedia.com/terms/s/swot.asp