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"How might a luxury cosmetic manufacturer of a new range of perfume use a decision..."
How might a luxury cosmetic manufacturer of a new range of perfume use a decision process approach to better understand how consumers purchase the product?
Author:
Veronica Gardner
Introduction

Selecting perfume is a rather prejudiced process. Given that a brand and its image are highly respected internationally, the acquisition for its newly launched perfume depends upon an individual's preference of scent. Waiting for consumers to approach, test and smell, be satisfied and pay for it is neither desirable nor affordable. A marketer certainly has some more to do. The following paragraphs illustrate how a marketer of a luxury cosmetic, from defining his target customers to understanding their consumption decision-making patterns, develop and implement a rewarding marketing strategy.


Assumption

Assumptions are made on a luxury cosmetic brand and its new range of perfume targeting a new segment in Hong Kong market. Estee Launder, having historically represented an impeccable quality taste and style, shares its expensive and elegant image with its consumers who are mature, feminine and attractive. A new range of perfume, namely, White Linen, and its extended product line of Body Crème and Bath and Shower Gel is to be launched. The target customers are, unlike its usual ones, young and adaptive office ladies. As such, a separate advertising and marketing strategy is adopted. Being a marketer promoting the captioned product range, it requires him to appreciate how people make their purchase and consumption decisions. A Consumer Decision Process (CDP) model (also known as EBM model) (Blackwell, Miniard & Engel, 2000) is employed to ensure the efforts of marketing strategy will not be wasted.


Understanding the product

The acquisition for perfume is based on selective need recognition as it is usually regarded as a non-necessity item comprising differentiated brands in the market. The Estee Launder's White Linen enjoys its strong brand equity as well as well established sales channels. It is considered as a high-involvement product because it gives benefits to those who are conscious about their self-images. Estee Launder has created this...

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essay on How might a luxury cosmetic manufacturer of a new range of perfume use a decision process approach to better understand how consumers purchase the product?
Pages:
8 (1936 words)
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Added:
11/11/2011
Category:
Business
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Hannah
Good morning!! Somebody help me with my paper on How might a luxury cosmetic manufacturer of a new range of perfume use a decision process approach to better understand how consumers purchase the product?!
02/09/2007
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