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You have been hired by an International Consumer Packaged Goods company to research what they believe to be an attractive market in your home country
You have been hired by an International Consumer Packaged Goods company to research what they believe to be an attractive market in your home country for the launch of a new personal skincare product for women.
This assignment includes research, analysis, and a conclusion.
- The research that you are undertaking is for an International Consumer Packaged Goods company that believes that your home country is an excellent target market for the launch of a new personal skincare product for women.
- The product's general formulation contains moisturizing, and SPF properties, it could also be adapted to contain skin lightening or darkening properties.
- Specifically, their prospective target is your home state, province, or major metropolitan area. Examples: Tehran, Iran; Shanghai, China; Greater Toronto Area (GTA), Ontario, Canada; Chennai, Tami Nadu, India; So Paulo, Brazil.
- Your task is to develop an analysis and prepare a written report on the following parameters:
- Attractiveness of the market including an overview and discussion of - the best segments/targets, related literacy and education levels, media sources, and general economic conditions.
- Your focus should include culture, relevant insights into history, geography, and climate and specifically, you should examine:
- Material Culture - Technology - the techniques and "know-how" of producing material goods; Economics - the employment of capabilities and the results.
- Social Institutions - Social organizations - family life, status, age. Education - literacy and intelligence and how informed the public is. Political structures - control over business.
- Belief systems - what are they and how do they affect product and promotional acceptance?
- Aesthetics - Graphic and plastic arts - degree of modernization. Folklore - superstition, tradition, etc. Music, drama, and dance - promotional possibilities.
- The report must have a supported conclusion to enter the market or not including, a description of the target market and any product adaptations that the company would have to make.
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