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Flare Fragrance Essay

1692 words - 7 pages

Flare Fragrance Company originated in 1955 as a small manufacturer of women’s perfumes and is now the fourth largest player in the women’s fragrances market. Their most popular brand, Loveliest, was created in 1975 and has been the company's sole focus for some time. Flare launched its next brand, Awash, in 1996 and have released a new brand every two to three years, six in total. Each of these brands has been released under the Loveliest brand name. 93% of all sales for Flare Fragrances come from the sales of these six brands, the other 7% come from the sales of scented products based on the individual fragrances. These products include things like soaps and shower gels and are sold only ...view middle of the document...

Other scents under the Loveliest umbrella have appeal to ages ranging from 25-34 making the Loveliest brand a powerful tool for Flare Fragrances.
Flare Fragrance has a number of issues at hand that play a big role in whether or not the company will be successful in the coming years. The company will have to strategically decide what they will do in order to come out on top in the industry. Flare Fragrances major competitor, “Aromatique” is about to launch a new perfume brand. They currently hold 15.6% of the overall market. This is a major issue because a new perfume brand could become a huge competitor. A new competitor in the market could yield unpredictable results; who knows if they will do well or not, and if they do well then that would be a huge issue for Flare Fragrance. The company must decide whether or not to launch Savvy, a new scent to compete with Aromatique. A new scent like stated earlier, could either benefit or hurt the company. With the decision to introduce a new scent comes the decisions of how much should be budgeted, where to sell the product and who to market it to. The company would need to figure out a price range for marketing materials and find a target market. Finding the right target market is crucial in introducing a new product and for it to be successful. Lastly, the company has the option at hand to expand in the drugstore industry with their new product. Expansion could be great; having more products filling shelves, advertising on a bigger scale, and increasing the exposure of the company to consumers.
The recommendations we made to Flare Fragrance have been thoroughly thought over and should be put into heavy consideration. Our recommendations begins with expanding the product line with “SAVVY” for him, and “SAVVY” for her. By introducing a new product for both genders, we can narrow down the target market to just an age group. 66.6% of the fragrance market is held by womens fragrances, so by adding “SAVVY” for him we collect the missing 33.3% of the consumers that Flare has missed out on by not having men’s fragrances. Secondly, we recommend that Flare Fragrance locate all of their prestige brands into department stores, and out of the mass market. Brands such as “LOVELIEST” and “AWASH” should not be in the mass market, because they dominate over other brands in department stores. We want to however, introduce “SAVVY” into the mass market, and build it around those consumers to dominate that market. Thirdly, we recommend to use celebrity endorsements for these two new brands; Mark Cuban for “SAVVY” for him, and Emma Watson for “SAVVY” for her. Mark Cuban is a well renowned businessman, owner of the Dallas Mavericks NBA team, and he is a young, everyday kind of guy. Emma Watson is famous with todays generation through Harry Potter as her character “Hermione”, and is classy, well respected, smart, and attractive. These are the figures we want to be an icon for SAVVY, when you think of...

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