Idea: Launch of New Skin Care Product in UK Market, Research Paper Example

Product Significance:

The cosmetic industry of UK is highly emerged and is vibrant with higher penetration level till date. The growth of advent synthetic cosmetic usage has given rise to higher usage of .chemical based products especially among consumers of different age group and the rate usage in the beauty salons has grown rapidly (Betton, 2007). The grown hype of decorative cosmetics have been entertaining right from the smallest manufacturers to the multinational manufacturers. The various range of products produced by these small and large scale companies have attracted both old and young crowd potentially. Especially young crowd has been expressing more interest in price, brand and colors they buy. When it comes to older people they focus on clear skin and aging effects and maintain youthful image.

Market Opportunity

The UK market features an immense opportunity to enhance the retail sales values of various cosmetic products with good investment in marketing and advertisement and also new product creation (Malkan, 2007). The cosmetic products which are endorsed by celebrities are highly popular and consumers generally seek to purchase such product for glamour or good looks. Moreover, the demand for anti-aging and anti-spots skincare products are some of the greatly demanded products in UK market and consumers are even ready to pay premiums prices (Dayan & Kromidas, 2011). The incorporation of natural ingredient into the products is one of the recent hypes which have been well received by most of the consumers. Having this analysis noted, it is clear that the scope of launching a new beauty product in UK market meeting the current standards of consumers demands does stand a great opportunity of success.

Project Rationale 

One of the main reasons for choosing the idea of launching a new beauty product in UK market is the level of opportunity that is available in the current market. As I am highly interested in marketing activities, the launch of new product would give me a chance to utilize my marketing skills in a strategic way. The release of a new cosmetic product in the highly competitive industry of UK would be highly challenging but yet would turn out to be highly lucrative if the marketing and advertisement skills are implemented strategically. On account of this new product launch I would conduct a rigorous research on cosmetic industry which would help me to enforce my knowledge of creativity, advertising, campaigning etc in a highly efficient manner.

References

Betton, C. (2007). Global Regulatory Issues for the Cosmetics Industry. London: William andrew.

Dayan, N., & Kromidas, L. (2011). Formulating, Packaging, and Marketing of Natural Cosmetic Products. London: John Willey & sons.

Malkan, S. (2007). Not Just a Pretty Face: The Ugly Side of the Beauty Industry. London: Sage.