Marketing - 1680 Words

Market Profile for Cosmetics/Skincare/Toiletries in the Taiwan Market 1 MARKET STRUCTURE 1.1 Size 1 The size of Taiwan’s cosmetics, skincare and toiletries market is estimated at around NZ$4 billion a year. Major consumers are females aged between 20 and 39 and the average amount of money spent by a woman with purchasing power is around NZ$700 a year. Skincare products constitute the biggest share (48 percent) of the overall cosmetics, skincare and toiletries market. In terms of product function, skin whitening, anti-aging and moisturiser are the three most popular products. Anti-aging products are around 30 percent of the skincare product market. In the past few years, the growth of antiaging products has been around 60 percent per†¦show more content†¦International brands such as Shiseido (the market leader which has 11 percent of the Taiwan market), Clinique, Estee Lauder, Lancome, Elizabeth Arden, Max Factor, New Zealand Trade and Enterprise 2 Christian Dior, Bobby Brown and Shu Uemura are the leaders at the high-end of the cosmetics market. There are some domestic brands in the medium-priced levels, but foreign brands are still dominant overall. An increasing number of local brands, for example FORTE, have entered the market and are performing very well with strong promotional campaigns. 2.2 Marketing Strategies It is important to appoint a good agent or distributor as your partner to develop the Taiwan market together with appropriate backup support through product launches, education seminars and ongoing promotional and after-sales support. 2.3 Distribution Channels Distribution channels in Taiwan include traditional physical and emerging virtual channels. Traditional physical distribution channels include health and beauty stores, beauty salons, department stores, supermarkets, hypermarkets and convenience stores. Emerging virtual channels include multi-level marketing, catalogue ordering, internet shopping and television-home shopping. Like many other countries, physical distribution channels are very expensive in Taiwan. Virtual channels are relatively inexpensive in comparison. Therefore, there is an increasing trend in Taiwan to first launch a product through virtual channelsShow MoreRelatedMarketing Analysis : Marketing And Marketing966 Words   |  4 Pagesreflect back over these last five weeks I now have a clearer view of marketing and how it affects not just the consumers of the world and the companies with their marketing managers, but how it affects me. Yes, I am a consumer who clips coupons, budgets my finances, and looks for sale items and this marketing class has taught me that marketing is more than selling or advertising. Marketing managers have a difficult job, as marketing involves identifying, meeting and satisfying the needs of customersRead MoreMarketing Analysis : Marketing And Marketing1486 Words   |  6 Pagesthis day and age, marketing plays a pivotal role in the business environment. Marketing is dynamic, complicated and challenging. 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