Explore BrainMass

Explore BrainMass

    Cosmetics Market : BRIC

    Not what you're looking for? Search our solutions OR ask your own Custom question.

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    1. The world's best-known cosmetics companies are setting sights on a lucrative new market segment: the emerging middle classes in countries such as Brazil, Russia, India, and China. What understandings and factors should be considered by these companies to be successful in markets in those countries?

    © BrainMass Inc. brainmass.com December 24, 2021, 11:55 pm ad1c9bdddf
    https://brainmass.com/business/marketing-strategy/cosmetics-market-bric-619498

    SOLUTION This solution is FREE courtesy of BrainMass!

    1. To be successful in the lucrative new market segment of Brazil, Russia, India, and China, the cosmetics industry must consider the following understanding and factors. First, the emerging middle classes are a very wide segment. The cosmetic companies must identify specific segments and target these segments with their products, price, communication, and distribution. The cosmetic companies should research the colors and shades that are popular in each country and offer multiple colors & shades. The cosmetic companies must closely monitor market trends, must use multiple channels of distribution, and use high quality ingredients. For cosmetic companies to be successful in Brazil, Russia, India, and China, they must consider their presence on internet seriously. They must have an excellent website, reach customers through social media, and promote its online sales. In their advertisements, cosmetic companies should use local heroes and models, should target important opinion leaders, and position itself as a premium brand. In countries such as Brazil, Russia, India, and China, cosmetic companies must use traditional advertising such as television, radio, outdoor display, and newspapers. This helps build brand reputation. Most important, the company must interact with the customers, know their expectations, and live up to their expectations.
    What is important about customers in the BRIC countries is that if a relationship is developed with the customers, they often communicate about it. For example, in some Asian countries there is a demand for a range of whitening creams, if the customers feel that the company cares for them, they purchase the products of that company. The perception of the brand should be that it is a high quality cosmetic. BRIC country customers are seeking high quality cosmetics. The company should position its brand appropriately. If these factors are considered, the company will be successful in Brazil, Russia, India, and China markets.
    References:
    1. Dant, Rajiv P., and Marko Grünhagen. "Special Issue:"Dynamics of Marketing Channels in BRICS (Brazil, Russia, India, China, and South Africa) Economies"." Journal of Marketing Channels 21.1 (2014).
    2. Alon, Ilon, Eugene Jaffe, and Donata Vianelli. Global marketing: contemporary theory, practice, and cases. New York: McGraw-Hill/Irwin, c2013. xxi, 602 pages: illustrations, maps; 26 cm.., 2013.

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    © BrainMass Inc. brainmass.com December 24, 2021, 11:55 pm ad1c9bdddf>
    https://brainmass.com/business/marketing-strategy/cosmetics-market-bric-619498

    ADVERTISEMENT