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Unit 22 Market Research Assignment 2 (DISTINCTION*) Learning Aim BPlan and implement activity to meet marketing objective & Analyse and present findings and improvements$14.02
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Unit 22 Market Research Assignment 2 (DISTINCTION*) Learning Aim BPlan and implement activity to meet marketing objective & Analyse and present findings and improvements
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Course
Unit 22 - Market Research
Institution
PEARSON (PEARSON)
Unit 22 Learning Aim B Btec Business (Market research)Plan and implement activity to meet marketing objective & Analyse and present findings and improvements
Maybelline is a well-known American international cosmetics firm that was founded in
Chicago in 1914 by Thomas Lyle Williams and is now owned by the French cosmetics
corporation L'Oréal. When William saw his elder sister Mable putting a mixture of
vaseline and dust of coal to her lashes to make them appear darker, he created the
lash-brow-line product, which was distributed internationally. In honour of her elder
sister, William renamed his eye embellishment Maybelline. Maybelline's motto was
"Maybe she was born with it." In 1917, one of the firms created Maybelline cake
mascara. Maybelline worked with Puma together within the German fashion house,
and they came up with the name Mabellyine x Puma for the special edition. Maybelline
also travelled to a lot of places, such as from Chicago to Memphis in a week and then
to Little Rock. Maybelline began airing commercials and posters on televisions, and
the brand received a boost when model Lynda Carter was chosen as a fashion
company model. Because of its original authority to sell in the worldwide market,
Maybelline is now successful. Nowadays, every woman, girl, and even teenager wants
makeup, and they want to show off how they look with it and how it makes them feel,
which is where Maybelline's marketing approach plays its role. Collaborations, online
promotions, sponsorships, and brand advocates are all part of Maybelline's marketing
strategy. Maybelline played a highly appealing role in the market by customising and
providing people's favourite goods, resulting in a strong bond of loyalty and trust
between the company and its customers.
The smart Objective
The new market research that I will conduct is specific to Maybelline’s objective of
entering the false lashes market because the target audience which is the 13-24 young
generation who are Maybelline loyal and regular customers would like to buy the false
lashes in various sizes with the name of Maybelline on it which will inspire them to buy
the products. The research methods that I will be using are primary and secondary
research methods such as Questionnaires, experiments and Television Commercials.
Maybelline did many advertising campaigns in order to promote their products and
their successful marketing strategy is to promote their products through Television
Commercials and online websites. Whenever Maybelline launches a new product, like
if Maybelline thinks of launching false lashes, then they will do primary and secondary
research in order to be successful in the industry. The research methods that would be
successful in order to conduct the Maybelline objective entering into the false lashes
market are Questionnaires, interviews and experimentation. The Secondary Research
method that I will look at is TV Commercials that help Maybelline to advertise objective
false lashes. The advantage of Tv Commercials is it helps to boost the brand and its
products and If necessary, advertising will help Maybelline to improve outdated or bad
impressions about their company. Tv Commercials may also help Maybelline get
,Learning Aim B Unit 22
recognition in the market for their new false lashes objective, which can allow
Maybelline to engage collaborators that can help them grow their firm.
Smart Objectives
SMART objectives are a type of goal-setting that helps managers and employees to
define, track, and achieve short- and long-term objectives.
Smart Objectives are a combination of objectives and goals that are set in motion by
parameters and provide structure and tractability. SMART goal planning establishes a
demonstrable path toward a specific goal, complete with distinct stages and an
expected deadline for achievement.
S= Specific
The goal is clear and obvious, and it describes what is expected of the (future) entire
project. I will be conducting questionnaires as a primary research method for
Maybelline to do market research of false lashes. The advantage of using
questionnaires as a primary research method in order to conduct new objectives is that
they help to collect a large amount of information from a large number of people which
will help Maybelline to understand how many people are looking for lashes and what
they are liking and what they are rejecting, the feedback of the consumers helps you to
determine what you need to improve and what you did well which will help Maybelline
to understand what size of false lashes are suitable of the female consumers. The
feedback of the consumers helps Maybelline to determine what you need to improve
and what they did well. For example, what size of the lashes do you think would be
best enough to carry on eyes? What prices do you want?. This will help Maybelline
objectives to go into the lashes market easily and understand consumers behaviour
easily. I will also conduct market research by doing interviews, asking people for
example what advice would you give the Maybelline about how to improve the
feasibility of the false eyelashes market into the industry? How do you hope to see the
Maybelline beauty industry launching new products for example false eyelashes in
future? Another research method I will conduct is a secondary research method such
as Tv commercials. Maybelline's past successful marketing strategy is promoting
through tv commercials. This advertising method will create a great impact on the
Maybelline market research of False lashes onto different models, younger audiences
M= Measurable
, Learning Aim B Unit 22
The measurable goal specifies specific measurements that may be used to assess
your progress toward the goal and decide whether you've reached it. I will be sampling
through quota and by using experimentations of Maybelline to do market research of
False eyelashes onto different ages of people to see how they look and are they
comfortable with wearing them. This method will help Maybelline to determine what
sizes are best for different age sectors. The Advantage of using experimentation
primary research is that it allows you to discover more than one chance which one of
your products has the most potential which leads you to accurate results which will
help and give opportunity Maybelline to determine the experimentation of false lashes
to see if their weight is light enough to carry on before pushing the products into the
market, so they will not have a loss if the product is inappropriate. The experimentation
research method will give Maybelline many varieties of results which leads their
products to success. Another secondary research approach I'll use is quota sampling,
which is a sales target that will help Maybelline with doing false eyelash market
research and establishing what the Maybelline sales are and how much time it will take
to achieve the sales. By using this method Maybelline can import its new market
research into different countries.
A= Achievable
The word 'achievable' means that people who are given the task are willing or capable
of doing it. People will be unwilling to spend their time and attention on something they
do not feel is achievable. Maybelline market research of false lashes can be
achievable by determining the target audience; it's up to the target consumers to
decide whether or not a product fits their demands. Market segmentation may help you
define your ideal consumer. The splitting of the whole market into market segments,
each of which consists of potential consumers with identical wants and behaviours
helps to achieve Maybelline new market research of false lashes in the industry. To
meet the market research objective of Maybelline going into false lashes Maybelline
will need to be achievable to be successful in the industry. Maybelline can make clear
and demanding goals for its market research of fake eyelashes. They can consider
how they can make Maybelline goals more clear in order to be achievable.
R=Realistic
‘Realistic' means that there is still a clear knowledge of how the goal can be achieved,
that there are no situations or causes that would make it impossible or unlikely to
reach the goal, and that any potential difficulties and limits have been considered.
Maybelline will choose modest goals that appear to be realistic, when setting goals,
Maybelline will keep them based in reality and it will not expect to double revenue in a
month or decrease expenditures in half in a week. To be realistic in the market for
Maybelline to enter in false eyelashes market research, they will conduct commercial
secondary research to show its audience how realistic they are.
T= Time
Setting a date and time by which the aim should be performed or completed is
important, and this helps to make objectives measurable. It's a good idea to create
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