EFFECTIVE PROMOTIONAL STRATEGIES FOR THE COSMETICS INDUSTRY
Need help with a related project topic or New topic? Send Us Your Topic
DOWNLOAD THE COMPLETE PROJECT MATERIAL
EFFECTIVE PROMOTIONAL STRATEGIES FOR THE COSMETICS INDUSTRY
ABSTRACT.
This study on effective advertising tactics for the cosmetic business, with a focus on Choki Laboratory Enugu, was conducted with the following objectives. To analyse the influence of Choki Laboratory’s promotional activities on enhancing the company’s profitability.
To determine Choki Laboratory’s promotional plan for raising awareness of the company’s products. To achieve the aforementioned goals, three sets of questionnaires were developed and distributed to a sample of Chuki Cosmetics Laboratory employees/management, distributors, and customers in the Enugu Metropolis. An exhaustive literature review was carried out to gather additional information.
The study’s sample size was set using Topman’s formular for distributors and customers, and a census survey was employed for relevant staff and management.
The obtained data were presented in a statistical table, analysed, and interpreted. The hypothesis was investigated using Chi-square, and the following conclusions were obtained:
promotional methods had an impact on customer disposition and patronage. That Choki Laboratory has totally designed an optimal combination of promotions to improve their performance, particularly in their region of operations.
In light of the above findings, the researcher recommends, among other things, that the company not only improves its product quality, but also clearly defines its promotion objectives and allocates enough funds for promotional tools such as public relations and trade fairs to achieve those objectives.
The analysts predict that if management pays close attention to their recommendations, Choki Laboratory will be one of the corporations to beat in this millennium.Chapter one
1.1 Background to the Study.
The establishment of a business, including the cosmetics industry, necessitates that enterprises make critical decisions. These decisions have an impact on the firm’s overall marketing programmes, as well as its marketing strategy.
However, one of the critical aspects of such a decision. The cosmetics industry’s promotional techniques require sufficient attention. They must launch promotional policies and programmes to inform, persuade, and educate their target audience about the organisation and its products.
Although creating demand for a company’s goods may be the ultimate goal of marketing promotion, it is seldom accomplished in one fell swoop. The company must implement a set of initiatives aimed at increasing demand for their goods.
This may entail choosing the optimal mixture of promotional mix, advertising, sales promotion, personal selling, publicity/public relations, direct/marketing, and packaging to achieve promotional goals.
This alternative blend is determined by several factors, including the promotional resource, the nature of the product, and the product itself.
According to Adirika, Ebue, and Nnolim (1996: 35), promotion is the component utilised by an organisation to inform, educate, and persuade the market about the company’s product. The key aspects of promotion include advertising, personal selling, sales promotion, publicity, and public relations.
Promotion is an essential component of survival and development; without appropriate promotion, a product may not sell, and even if it does sell, its long-term viability is uncertain.
The art and science of marketing promotion, which includes advertising, personal selling, sales promotion, public relations, and direct marketing, is sometimes linked with glamour and flamboyance.
In fact, in order to compete in today’s competitive marketing environment, several organisations spend the majority of their money on promotion.
Edoga and Ani (2000: 243) stated that marketing success is not solely dependent on good product relations; publicity and direct marketing can be used to inform prospective buyers about the benefits of their products, persuade them to try it, and later remind them about the benefits they will desire by using the product.
Modern marketing organisations are increasingly recognising the importance of a successful communication and promotion campaign for their complete audience, including cosmetics.
Ebue pointed out that current marketing goes beyond simply manufacturing a solid product, pricing it attractively, and making it truly available to target customers.
The company must communicate with its target audience, create compelling tales, and provide information about the product’s existence, features, terms, and benefits with the target market.
According to Coppo.J. (1972: 201), promotional tools are the most powerful vehicles in competition, and they are the only means for a market richer to break into an established market. He went on to say that in order for a company to stand out in a competitive market, it must value the importance of promotion.
Choki Laboratory began operations in 1985. It is a cosmetic manufacturing company. It is headquartered in No. 3 First Avenue Independence Layout Enugu, and Mr. M.I Onuigbo serves as the managing director.
Cee-sheen is one of the company’s long-lasting products. The company has a staff of forty-five (45), with six (6) leaders serving as casual workers.
Choki Laboratory engages in promotional initiatives to increase sales. Choki Laboratory, one of the top cosmetics industries in Enugu Metropolis, is competing with a large number of cosmetics industries and the open market, which has gravely damaged their market position.
With the growth of the cosmetics industry and the preference of most people in Enugu Metropolis for open markets, it is necessary to evaluate the company’s promotional techniques, which are growing more sophisticated by the day.
Manufacturers and producers of goods and services are now aware that promotion not only informs and persuades, but can also lead to profit through increased sales. We will look at effective promotional strategies for the cosmetics industry in Enugu Metropolis, with a focus on Choki Laboratory.
Need help with a related project topic or New topic? Send Us Your Topic