M·A·C Cosmetics, was founded in Toronto, Ontario, Canada by Frank Toskan and Frank Angelo in 1985. The first U.S M·A·C store opened in 2003, in Greenwich Village, New York. The company’s products were initially specifically designed for professional make-up artists, but are now sold to consumers worldwide. Products
The collection includes blush, eye shadow, eyeliner, lip gloss, lipstick, mascara, mineral powder and nail polish. Most M·A·C products are oil free. These oils provide benefits for the skin such as prevention of water loss, as they build up in the skin and are not washed away, so the protection is believed to last longer. Pricing strategy
Mac cosmetics are generally priced higher than average cosmetics but consumers don’t mind paying more as they are aware of the quality which the product provides. Core product- M.A.C. gives you the look you want.
Actual product- face products that have some flasher fun with mirrored compacts. Limited-edition sets packaged in a chic and reusable M.A.C. Holiday tartan tin, M.A.C. glamorous and my scottish fling mineralize Kits. New collection every season
Communication M.A.C cosmetics inform, persuade and reminds potential buyers through the word of mouth strategy as they know their target market and they rely on them as their communication strategy. The company uses celebrities as representatives or models.
Also, they have fashion parties for different occasions, where it brings the celebrity world and the outside world together. This way, M.A.C. benefits a great deal for their publicity. The highlight of M.A.C. is their sales promotion which stimulates their immediate increases in demand. Their employees are well trained for their job. Their sales representatives offer the best-personalized customer service.
The Term Paper on New Product Development Strategy for Google
Google is a world known company founded by Larry Page and Sergey Brin in 1997 based on the new name of their search engine that was BackRub that operated in Standford more than a year. The word Google itself comes from a pun of word “googol” a mathematical term for the number represented number 1 followed by 100 zeros that reflect their mission to organize infinite information in the ...
Probable target market From what we have researched, our observations show the following: MAC’s target market is compatible with its goals and desired image. The probable target market is aimed at younger to middle aged women (approximately ages 18, 25) based on the advertisement. Products are of high quality, and were originally created by makeup artist’s exclusive use by professionals. The consumer can expect a product that will last longer than an average quality makeup, this is why the price is at the level it is.
The tangible product is classed as a consumer “want” Pricing is at the higher end of the market, with the average product costing approximately $80. This pricing strategy is effective as it suggests that the products are of exceptional quality and that the consumer is essentially paying for what they get. This higher price range helps mac communicates status and exclusivity amongst other brands. MAC branded makeups are not commonly marked down or discounted, as the company’s aim is to help consumers recognize the status and prestige of the brand name.
The products are strategically placed, providing MAC products in a place that provides maximum visibility and convenient access. This includes not only physical advertising such as billboard and magazine coverage and stores located not only in large shopping centres and stores such as Myer, but in specific Mac stores. MAC, like most companies has evolved with the technological word and provides consumers with limited spare time and access (due to geographical location and other preventing factors) online purchasing opportunities with their online store. MAC uses two types of distribution strategies to promote their product.
The Review on Impact of Product Price and Brand Name on Quality Perception
In ordinary usage, price is the quantity of payment or compensation given by one party to another in return for goods or services. In modern economies, prices are generally expressed in units of some form of currency (For commodities, they are expressed as currency per unit weight of the commodity, e.g. Tshs per kilogram.) Although prices could be quoted as quantities of other goods or services ...
1. Selective distribution- This is not uncommon, with the specialised stores that sell high quality brands, stock MAC as one of their chosen products, usually in makeup stores or large shops e.g. Myer, where a section of the shop is dedicated to beauty and makeup, and a portion of that section such as a counter is dedicated to MAC. 2. Exclusive distribution – This is where only authorised dealers and selected resellers or dealers, including those in selective distribution or licensed to sell MAC products. This includes individual stores restricted to selling only the chosen brand’s products such as certified MAC stores. Segmentation strategies
The MAC Cosmetic Company provides a wide range of different yet similar products to cater for individuals that are all looking for a similar outcome, good quality makeup suited to their skin type. This is a factor that must be taken into consideration when creating segmentation strategies. Appropriate marketing segmentation is beneficial to the company as it is effective as it can more precisely fulfill the desires of targeted groups. Market segmentation can be divided various categories including geographic, demographic, psychographic behavioral. Geographic- this includes the size, population and climate.
MAC designs products suitable for the climate and population that they believe will potentially buy their products Demographic- Relates to the income, gender, family life cycle stage and ethnicity. MAC’s range of products may be pricey and seem out of reach in comparison to other brands, however the halo effect is created through this and the quality of product outweighs the price for those who value quality highly. Psychographic- Is about social class, personality and lifestyle of the consumer.
MAC products create an image of status and prestige; people may find themselves paying for the brand based on reputation, without considering other, less known brands. Behavioral – includes usage rate, benefits desired and the consumer’s loyalty/buying status in regards to the product. Many consumers who use MAC will stay loyal to the brand, finding comfort in what they know works. Positioning
The Research paper on Brand Comparison Betwen Apple and Samsung
First, we would like to thank our supervisor, Carl Thunman, for his continuous support and guidance; he has made our work easier and more interesting. We are also thankful for our seminar colleagues for criticizing our work and exchanging constrictive discussions. Finally, we want to thank our beloved families, for helping and supporting us through the last months, without their love and ...
Macs competitive positioning in regards to the marketing mix is achieved well. It’s pricing is higher end, but delivers top quality products which leads to brand trust achievement. Consumers are prepared to pay a higher price in order to receive higher quality products that they can trust.
