Marketing, Branding & PR
Duration: 7 weeks
Team members: Khushi and Shravani
My role: Ideation and Strategizing
Project Brief: To select a multinational company with at least 20-25 brands under it. Out of those, the brand that has been performing poorly had to be revamped. We chose LVMH as a parent company and Benefit Cosmetics as the brand we want to revamp, keeping the Indian market in mind.
Target market
Demographics: Women aged between 20-45 with a fairly high disposable income.
Behavioral: Women who appreciate skincare and incorporate it into their daily regime. A woman who is playful but confident and can have fun with make up
Psychographic: women who wear makeup to express themselves, as an art form, not to impress others
Value Proposition: Uniquely designed brow products that are cruelty-free
Brand positioning: they believe that laughter is the best cosmetic. They're not only in the makeup business...they're in the feelgood business.
SWOT Analysis
PESTLE Analysis
Problem Statement: The myth that Benefit Cosmetics is only for the youth, leading to a lack of brand awareness, visibility, and reach.
Final Concepts
Loyalty programs and membership opportunities will ensure repeat purchases. Customers are more likely to come back if they have an incentive and offers. Since Benefit is considered a high end, premium cosmetic brand, customers will be happy to be a part of this family and take advantage of the special deals and announcements. This will enable Benefit to build a loyal customer base, something they were struggling with, in India, due to intense competition.
Concept 3: A day out with Benefit
A full-day event, where customers are invited to spend the day with Benefit, designed not only for women but for anyone who loves makeup, promoting inclusivity. This event includes fun makeup activities, tutorials, and competitions. Select few winners will also receive mini makeup kits of bestsellers. This will give them an opportunity to try out the bestsellers in minis, appropriate for travel as well.
#BenefitForYou is the hashtag that will be promoted on social media, making the customers believe that it is for them. Influencers these days are overrated and customers don't tend to take their word for it, since it's a paid partnership. However, if there are real people, promoting #BenefitForYou, potential customers are more likely to trust the brand.
Lastly, this gives them an opportunity to closely interact with customers and build a personal relationship, increasing the trust factor. This event will be followed by an Instagram contest as well.
