Market Research for Beauty

The company I chose to work on is Procter & Gamble as they are a globally recognized brand with a multitude of product offerings.  Some of the products they offer are Luvs diapers, Tide laundry detergent, Always pads, and Olay so they are well diversified and most of these are brands that synonymous with value and quality.  So, by leveraging the brand and its presence any product I would put in market would be a bit more successful and have an immediate value to customers familiar with the other brands.   

Reviewing the brands and lines I think the one area that I feel the most value with is skin care and knowing how important it is to take care of my skin this is where I would focus.  Knowing that a lot of people have skin sensitivities I would offer a product line that is organic and sustainable.  More and more consumers are concerned about the environmental impact of how their goods are made and supporting local businesses and resources.  P&G also has a four-stage testing process and makes sure that all products fall within government regulations, again a great selling point.  

For market research, if I was working within P&G, I would do market studies and see if users for our existing brands would have an interest in the products.  Once I determine there is an interest or need, I would then see what is currently offered within the market and see who my competitive set is.  This would be applied and even basic research methods to collect this data.  I then also want to identify my key segment to market to and understand their “persona” which will help influence the brand voice and creative to gain interest and loyalty.  A key piece will be setting goals or KPI’s and using a tool to measure success such as google analytics or sales.  

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