About Target’s Market Strategy

Any firm that wishes to succeed needs a steady market to ensure its viability. The biggest problem that firms confront globally is developing products that quickly fly off the shelves in response to consumer demands. With too many competitors, one, many items and services have turned into clones of one another. Two, because businesses have become boring due to a lack of innovation, many consumers are reluctant to try new initiatives that market the same concept as an existing one because there is nothing to look forward to in any case. Finally, markets fluctuate by the people’s needs so the durability of business and its products must be assured to ensure that there is longevity in business and losses can be avoided. When creating a product, in this case, to be specific, a product that will serve two business markets it is important to build need so that there is dependence when it comes to the product for the customers.

Cosmetics have become one of the greatest phenomena in today’s world and getting on the bandwagon is a fantastic idea for anyone who wants a business that will appreciate consistently. The range that the world of cosmetics gives ensures that even a product as simple as a lipstick is enough to deliver tremendous returns regarding revenue (Ferrell &Hartline, 2013). Key factors in creating a customer base in cosmetics are an excellent quality of products and assurance of providing products worth the money set for purchase. The strategy for such a target market is easy considering many women have already signed themselves as die-hard makeup users, so the challenge, in this case, comes in the presentation of the product and the quality range provided in comparison to what is already in the market (Ferrell &Hartline, 2013).

One of the most coveted items in women make up is the foundation, which comes in either powder or liquid foundation. The idea of foundation creates such a different effect on the face, and the best part is that it can be for both men and women. Individuals who mostly work on camera like models, journalists, or even actors and just everyday people always need a good touch up of the foundation. The idea is not a unique one since there many individuals who have done the same and had a variety of bases, but mine is a bit different regarding the formula used and the longevity of the product on the face and from the time of application.

The first strategy of breaking into the market is originality which lacks in many foundation products (Greene, 2016). I know the challenges that make up wearers go through on a day to day basis one is that foundation thins out which may need reapplication throughout the day. My formula is in such a way that one application is enough, a combination of powder and liquid formula creating a standard that is smooth a flawless for every skin tone. Whether oily, dry or just normal skin tone the mixture of the cooling powder and the liquid foundation is consistent on the face creating a smooth finish that is polished. By creating such a product many people and even organizations will automatically gravitate to it without a doubt. Apart from a fantastic product, the cost of buying it is significantly low considering other similar products. Affordability is one of the greatest market strategies especially for competing products (Greene, 2016).

The primary goal of this product is to cover every skin color and skin type from the lightest to the deepest shade of dark which will ensure that everyone interested can find something for them. The main potential barrier to anticipate is the fact that there may be similar production in the market that I might have to compete. The number of foundations available cannot be counted meaning competition is most definitely stiff. Even though there might be too much competition, the most important issue remains in the quality and durability of the product that we present to consumers because that is where many products get canceled out. The everyday woman is easily swayed to use my product so is the fashion, modeling and acting industry which is easily one organization that has to deal with the beauty outside the everyday norm.

Conclusion

Given my market strategy to introduce a dual product that is usable by people who know nothing about foundation to experts who know everything to do with foundation, room for failure may be very minimal if any. Easy application and a favorable formula are critical in penetrating the already congested cosmetic world but above all will remain the cost which is minimal and the ability to advertise widely. In conclusion, no one who knows the joy of makeup can pass off this foundation, it is cost-effective, and of useful formulae not forgetting every skin tone has been well represented from the lightest to the darkest all in one production.

References

Ferrell. O. C & Hartline, M. (2013). Marketing strategy texts and cases. Boston, Massachusettes:

Cengage Learning.

Greene, L. C. (2016). Entrepreneurship: Ideas in action. Boston, Massachusettes: Cengage

Learning.