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The 'Reflective Quiz' below is based on Chapter 11 on McGraw Hill CONNECT. Make sure you have done your reading to complete this quiz. This quiz carries 10% of your carry marks. *Refer to Management...

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The 'Reflective Quiz' below is based onChapter 11on McGraw Hill CONNECT. Make sure you have done your reading to complete this quiz. This quiz carries10%of your carry marks.

*Refer to Management Decision Case: Restoration Hardware—Using the Brick-and-Mortar Store as a “3D Catalog” (McGraw Hill Smartbook)

  1. RH’s CEO believes that the Internet is limited in its ability to facilitate differentiation among retailers. Do you agree? Which retailers do a particularly effective job at presenting their products through their websites?

Answer:

  1. Does the RH strategy work only for high-end/prestige products or are there elements of its approach that would be appropriate for retailers at all price levels? Choose one of your favorite retailers and discuss how that company could best apply the approach that RH is using.

Answer:

  1. Is it environmentally responsible for RH to produce and distribute such large paper catalogs? Are there ways it could mitigate the environmental impact of this program? How could it best deal with the likely negative reaction from “green” customers?

Answer:

  1. What are some other novel ways that retailers could define the role of their brick-and-mortar stores to optimize their effectiveness in contributing to increasing firm revenues and profits?

Answer:

Answered Same Day Aug 02, 2021

Solution

Sanjukta answered on Aug 05 2021
142 Votes
Running Head: MARKETING
1
Marketing management
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1.
Economic conditions- It is quite evident that during COVID-19 and post COVID-19 the economic conditions everywhere will be quite bad. Hence, individuals will only buy the cosmetics that falls under "necessary item". For instance, they will prefer to buy shampoo as it is a necessary item instead of buying a foundation or lipstick.
Social and cultural influences- One of the main social and cultural influences that are taking place at present and will be affecting companies like Avon is the "mask effect". The lipstick, for example, has declined by 21% as recorded by one of the famous Korean e-commerce firms. Hence, AVON is also quite likely to face this and if they don't take necessary steps for coping up with this situation then it will gradually lead to
and erosion (Lim, 2020).
Figure 1: Beauty sector is affected by COVID-19
2.
One of the trends that are quite popular in the recent times is clean, natural as well as sustainable beauty.
a. Yes, I think that AVON must sell natural cosmetics along with their present product lines. There are some of the main reasons for which they must do this are as follows:
It has been surveyed that approximately the natural cosmetics will attract 55% interest of the consumers as they believe that these cosmetics are organic, consumers also think they are gentler on the skin as well as these cosmetics are cruelty-free (Danziger, 2019).
Considering the above-mentioned reasons AVON can enhance its profitability and
and image in terms of introducing natural cosmetics.
. The target market for this new product will be- The target market will be working women (follows vegan and natural lifestyle) from (22-45 years) as they prefer organic products. Additionally, they can also target the pregnant women as they prefer using natural products during their pregnancy that will not be harmful. Based on the market research by Avon the products must be priced below average, having the new cutting-edge ingredients as well as boasting the new biotechnology. Income if another significant factor when the firm is selecting their target market. The lower income group is quite likely to be the first one to purchase new formulated natural cosmetics if it has the power to eliminate the need for a lot of commodity items. Lastly, education will be another element that a lot of marketers link with the social class. For instance, it is quite evident that if Avon targets the educated individuals then they will have more positive response to their “natural cosmetics” segment as these individuals prefer more affluent lifestyle and products.
Marketing mix for natural cosmetics
Marketing mix is mainly the science and art of selling. The main ingredients for the good marketing are mainly the 4p’s such as price, power, placement and promotion.
Figure 2: Marketing mix
Product- Lip care (Green tea lipsticks) and organic eyeliner. Furthermore, Avon must have a product policy with regard to the new product segment and the product policy will be “making cosmetics complying with both FDA regulations for labelling and USDA regulations for the organic claim”
Place- all across the globe (Online) and offline stores as well as online stores because AVON is a global
and. The online store is especially for the individuals who are from all across the globe and getting their hands on this particular segment (natural cosmetics) can be quite tricky so this will be their one stop solution. However, both online and in store purchasing will be available with regard to natural cosmetics.
Price- As per the marketing mix, price is regarded as one of the most vital factor and it is because it is what allows companies for making profit. Furthermore, it is also quite vital factor for a lot of consumers particularly in the beauty industry. However, it is always considered the firms that charge higher price for their products offer best quality as well as more recognizable products. As AVON will be introducing this product range without using preservatives and it will be mainly handmade therefore the prices will be a little bit costly. The company will adopt a premium pricing strategy.
Promotion- It is basically the way by which AVON will be informing their consumers about their new product segment along with its features and benefits. In the cosmetic/makeup industry there are...
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