'Even if the market research indicates that the project is likely to be viable, there will often be many details that need to be worked out. Research should resolve these details. For instance, the concept might appear to be viable, but the proposed trading name might be receiving a poor reaction.'
- 'Effective Marketing' by Peter Hingston p.26 'Project Details.'
- To use this in our project we will conduct surveys/ questionnaires to find the reaction of out brand names then make alterations accordingly.
Selective Distribution - as we are a niche frangrance and want to be a luxury brand, all decisions regarding distribution must be brand appropriate. Through selective distribution 'the manufacturer is able to create and maintain an original and prestigious brand image.' Which benefits the consumer as: 'the consumer is assured that the luxury products will not become everyday products.' Maintaining credibility and exclusiveness.
References - 'Fine Frangrances' by Monopolies and Mergers. Commission. P.27 published HMSO Publcations Centre.
Why choose female consumers?
"The UK retail market for fragrances continued to grow in 2011, in spite of a challenging economic setting, with sales up by 4.5% to reach around £1.38 billion. While growth continues, it is doing so at a slower rate. The recession has proved that the ‘lipstick effect’ works, where women are treating themselves to affordable, little luxuries when money is tight whilst cutting back on bigger purchases, but there are signs of the prestige sector moving towards lower price points. In spite of this, sales of fine fragrances remain substantially larger than the mass market, generating 82% of market value, the bulk of which comes from female-specific products."
http://store.mintel.com/mens-and-womens-fragrances-uk-september-2012
Why choose niche frangrances?
"Launches largely rely on branding & celebrity to attract interest, although scents are also becoming more unusual to create a point of differentiation. New introductions include fragrances based on the scent of old books, the the ballet and even the internet."
http://oxygen.mintel.com/sinatra/oxygen/brochure/id=638234
- Men's and Women's frangrances UK September 2013
