COUTURE COLOR COSMETICS: BUSINESS PLAN
ALICIA VASQUEZ CALIFORNIA BAPTIST UNIVERSITY COM300: PUBLIC RELATIONS DECEMBER 20, 2013
Executive Summary Makeup is a component of the daily routine that many women would find to be essential to their look. For many women, it started with their first makeup at 15 to learning what is new and hot at 50 and beyond. Each woman has her own makeup needs and desires that she would like to achieve. Whether it is her signature lipstick or her favorite mascara, most women wear makeup to enhance their natural beauty and conceal the imperfections they want to hide. Unfortunately, despite having many years experience wearing makeup many women are on the continuous hunt to find the perfect foundation. Couture Color Cosmetics has the ability to give women just that, the perfect shade, the perfect finish, and the perfect coverage. The US Food and Drug Administration defines cosmetics as being â€œintended to be applied to the body for cleansing, beautifying, improving attractiveness, or altering appearance without affecting the bodyâ€™s structure or functionsâ€? (Blog, 2012). Couture Color Cosmetics is a company that has stemmed from a desire to provide not only the ideal foundation color, but also ideal finish and coverage that the client is looking for. This can be achieved by utilizing a hand held spectrophotometer device that uses a series of lenses and lights to capture the skin tone perfectly and cross reference it with the specific
software program that has a set range of colors based on skin tones through the world that the spectrophotometer is able to match to. After the match is identified, the client can then specify what finish and coverage they would prefer by means of a touch screen monitor. After all factors have been selected, the machine draws the specific liquid components through a series of tubes that measures and mixes the product and dispenses the finished product into a 1oz container. A sticker is then printed that specifies the particular color and blend so the client is able to have a faster mix time the next time they return to purchase the product.
This system also utilizes 1oz bottles that are 100%
recyclable and allows the client to return the used bottle for a discount on the next bottle purchase.
Key Audiences The key audience for this company will predominantly be the makeup savvy client between the ages of 18 and 32 who does not want the same old traditional makeup or makeup brands and wants to try something new. This client is looking for makeup that has benefits for them, will do something beneficial for their skin that they have not found in other brands currently on the market. This client may have had past experiences in which they did not have a positive experience with a cosmetic brand.
Couture Color Cosmetics is a customizable cosmetic line that is custom formulated for each client and compliments each personâ€™s skin tone perfectly with fresh ingredients and a personalized experience. The formula used by Couture Color Cosmetics utilizes small pigments that allow the formula to be applied easily and evenly, every time.
Goals 1. Add mineral powder foundations as an option to pair with the liquid. 2. Add mineral powder blushes and bronzers to the collection that will perfectly compliment each foundation shade. 3. Develop color based products such as eye shadows, lipsticks, and eyeliners. 4. Set up fully functioning online distribution site for all products, made to order.
Objectives 1. Launch 10 more brick and mortar locations throughout California by end of year 3. 2. Achieve an above median maintained margin rate by end of year 4. 3. Generate a substantial net profit by end of year 6. 4. Be featured in print ads such as Allure and Marie Claire.
Tactics and Evaluation Methods Our strategy is to develop Couture Color Cosmetics as a brand that represents quality and value for the client. The tactics that pair with this strategy will be placed over a broad range of disciplines including: - Products that perform: We will continually develop and bring to market products that function exactly as we promise. We will continually use the freshest ingredients possible and offer the best value possible to our client. - People: We will locate, nurture and develop teams of people to be a part of our business that is committed to the brand image. We will utilize incentive and reward programs for excellent performance. - Marketing Programs: We will focus on public relations campaigns and affiliations that will reinforce our image. Print advertising will focus on purity and customization that speak to the lifestyle of our key audience. These will be placed carefully so as to reach our exact consumer. - Development of Retail Locations: Locations will be carefully sited to generate revenue and enhance brand image. Opening locations near reputable stores located in major shopping malls and areas will generate interest for our brand in major markets. Evaluation methods will be utilized to ensure that the business is trending to make money and not just hemorrhaging funds. One of these methods is to measure the input and output of dollars spent and budgeted and spent on payroll. The extent to which specific measurable impacts are
generated in the longer term and the extent to which these realize the goals and objectives of Couture Color Cosmetics will also be looked at on a constant basis in terms of daily, weekly, and monthly goals.