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Essay / Nail Polish Case Study - 1106
Nail Polish Remover PenHave you ever had nail polish in the crease of your finger and nail and you just can't get it out to remove ? Precise Nail Polish Corrector is just the answer. This pen can be useful to many people, including nail salons, beauty schools, beauty salons and everyday men and women who use nail polish. This product provides the consumer with very precise cleaning when nail polish gets into hard-to-reach places. Painting nails has become easier and less time consuming. For this product to be successful, it must follow the STPs of marketing. Segmentation will be implemented into demographic and psychographic groups. The product is designed to target men and women who primarily use nail polish. All three tools are fundamental for a company to find the best-suited consumer. According to Vyas (2016), segmentation divides buyers into groups with similar needs and aims to make best use of a company's limited resources through buyer-based marketing. This plays an important role in ensuring that the business is catering to the right consumer. By implementing this process, the company reduces the risk it takes when deciding who, where, how and when the product should be released. Marketing effectiveness will increase due to the direct attention the company pays to specific groups. Customer loyalty will increase thanks to satisfied consumers. Leading to a decrease in costs with regard to non-marketing in areas where the product is not present, it is crucial to go hand in hand with segmentation. The product will primarily focus on women aged 18 to 50. With affordability being a determining factor, focusing on median income will give this product a better edge. Profession plays an important role in consumers' choice of nail polish. With this, the product will be aimed at women who work in an office. When it comes to psychographic methods, product marketing will focus on more feminine quality traits, relating to lifestyle and hobbies. Focusing on dancers, cheerleaders and all-around girls. Hobbies will include girls' nights out, grooming, art and dancing. Hausman (2017) states that according to Entrepreneur, targeted marketing is: Your target customers are those who are most likely to buy from you. This is why product marketing focuses on the groups mentioned above. The target market is attracted to women who are expected to use nail polish more often, in order to make cleaning easier and easier to clean.