Research To Promote Uk's Men's Cosmetic Market

5446 words - 22 pages

Research to Promote UK's Men's CosmeticMarketContent- 3 -1 Background - 4 -2 Literature Review - 4 -2.1 UK's cosmetics market - 7 -2.2 Men's Care - Market Highlights and Trends - 7 -2.21 Men's cosmetics market trend - 8 -2.22 Demographic analysis to Men's cosmetics - 10 -2.23 UK's Men's cosmetics market - 12 -3 Aim and Objectives - 13 -4 Methodology - 13 -5 Secondary evidence - 13 -5.1 UK's Demographics - 14 -5.2 Budget and brand factors - 15 -5.3 Industry's Threats - 15 -5.4 Current Marketing Strategy - 17 -5.5 New Distribution Channels for Men's Cosmetics - 18 -6 Conclusions and Recommendations - 21 -Reference - 25 -Bibliography 1 BackgroundA "cosmetic product" means any substance or preparation intended to be placed in contact with the various external parts of the human body (epidermis, hair system, nails, lipsand external genital organs) or with the teeth and the mucous membranes of the oral cavity with a view exclusively or mainly to cleaning them, perfuming them, changing their appearance and/or correcting body odours and/or protecting them or keeping them in good condition (EUCosmetics directive, 1976). The legal difference between a cosmetic and a drug is determined by a product's intended use. Different laws and regulations apply to each type of product. Firms sometimes violate the law by marketing a cosmetic with a drug claim, or by marketing a drug as if it were a cosmetic, without adhering to requirements for drugs (Office of Cosmetics and Colors Fact Sheet, 2002).Cosmetic industry is fundamentally related to people's everyday life. Manufacture of Perfumes and Toilet Preparations have a total turnover of about £11 billion, pre-tax profit of about £0.5 billion in UK, as reported by ICC Plum Data Base(2007). Steady growth in the near future could be expected. UK Gross Domestic Product (GDP) is forecasted (Source: Treasury, 2007) to grow by between 2.4% and 2.6% year by year, indicating a strong and stable economic situation until at least 2011. Skin care products are forecasted to demonstrate the highest growth between 2007 and 2011, increasing by 13.1% to £1.15bn. Cosmetic industry is highly competitive, typically in skin care category. Manufacturers are attempting to persuade consumers to trade up to premium-priced items by investing large sums in developing and advertising innovative products, for example, the anti-ageing cosmetics.As women have known for a long time, cosmetics constitute a weapon in the daily struggle for appreciation, esteem and success. It is now statistically proven that well-groomed men too have better career prospects and success with women (Diamond, 2003). Long gone are the days when the use of toilet water and creams was regarded as unmanly. Inhibitions about buying special cosmetic products for men and going to a beauty parlour have recently diminished. Nowadays the male grooming routine has changed dramatically(Müller, Schill, 2007). It no longer only consists of the three S's:...

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