Abstract
The fragrance industry is a very competitive market with international players who have a global presence and huge financial means. The perfume market is not only competitive, but also very complex, crossed by strict regulations and low loyalty consumers. In this context, Maybelline, a worldwide known brand in cosmetics, will try to enter this market through the creation of a new perfume. Our study will be divided into two parts.
The first part will analyze the fragrance market in general. We will describe the global market and then, more precisely the Belgian market. The market players and the different segments that divide the market will be analyzed. Secondly, we will go deeper in the competitive landscape analysis and describe the leading companies in the market. Then, we will establish the consumers' profile for the fragrance market. We will conclude the first part with a SWOT analysis based on Maybelline's current position in the market and the analysis of two competitors, namely Clarins and Estee Lauder.
The second part deals with the creation of the new perfume and its marketing strategy to make a successful entry in the fragrance market. Thus, with the help of the thorough analysis of Maybelline and the fragrance market, we will analyze Maybelline's legitimacy, its brand positioning in the portfolio and its new brand positioning statement. Then, the study will focus on the creation of the new perfume. Before explaining the concept, we will make the segmentation, the targeting of the market and the positioning of Maybelline's new product in the market. After presenting the concept, we will describe our marketing mix and how we would communicate regarding the new perfume. Finally, we will present our midterm international strategy that is based on an action plan which is developed over two years.
