Case of Mary Kay Branding strategies
Mary Kay is a global cosmetic company, who is considered as the direct sellers of skin care and color cosmetics with the annual sales of more than $2.5 billion. The country has expanded its business in China and other middle Asian countries. Now the company wants to expand its business in the Indian subcontinent. The company has seen the lucrative market segment in the country as the country is having a population of young individual’s ladies who can boost the sales of cosmetics and other skin care products.
Identification of issue in the study
The issue that has been identified by the company after the research is that the company has to build the brand, sales force and the effective supply chain for expansion of business in the country.
Approach of Mary Kay
For approaching the Indian market, the company has to build the brand image as the Indian women are more brand conscious in terms of cosmetics and beauty products. For making the brand building concept the company has to focus on key product categories that are already existing in the market. The company also has to follow the pricing strategy for the Indian salesforce as per the purchasing power of the Indian buyers, as exactingly many competitors are there in the Indian market with relation to the cosmetics and beauty care. For building the brands in the market the company is following the approach of “think about pink” which act as the branding strategy for the company.
The company believes in the concept of building brand by opening new centers and offices, so that faster delivery of goods will be done in terms of service quality.in addition to that, the company is investing in infrastructure as they believe that good infrastructure is the backbone of the company, to become successful in India. The company is also increasing their product portfolio by increasing the number of products that are available in the Indian market as per the skin tone of the Indian women. The company also adopted the policy of “try before you buy”, so that the customers feel and touch the brand, which will be a great experience for the users to know the product. The company is also made interactive marketing concept by the use of innovative tools like the Mary Kay Virtual Makeover, which makes the company a reputed brand in terms of customer experience.
- The existing branding strategy adopted by the company is doing good, but by adopting these recommendations the company can do better in the market-
- The company has to adopt the concept of online marketing, by which the products of the company are available on the e-commerce sites, as the Indian women spent a lot of time on online purchasing.
- The company has to adopt the creativity and beautification concept for the stores to look attractive.
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