ACADEMIC YEAR 2022-2024

MARKETING MANAGEMENT
SEMESTER 1
Course Faculty: Gaurav Bhatt
Group Project: Cosmetics Industry

TEAM MEMBERS
NAME SEAT NO ENROLLMENT NUMBER
Ritu Kumari 22 22BSPHH01C0930
Ayushi Patodia 24 22BSPHH01C0252
Sriram V 25 22BSPHH01C1215
Ruchira Bhattacharjee 26 22BSPHH01C0951
Mir Sardar Ali khan 27 22BSPHH01C0663

Declaration:
We declare that this assignment is our work and we have not copied it from any other
student’s work or from any other source except where due acknowledgment is made.

For Course Instructor’s use only:

Marks Obtained: Max. Marks: …………………………

Comments (For Instructor’s use only)

General Observations Suggestions for Improvement
 ACKNOWLEDGEMENT

We would like to show our appreciation to everyone who helped us to finish this report. We
would like to express our sincere gratitude to Prof. Gaurav Bhatt, a professor of marketing
management and the person who oversaw our project, for his unmatched contribution,
encouragement, and support in helping us plan and accomplish it.

We would want to take this opportunity to thank everyone who supported us throughout the
course of this project. We appreciate their advice and helpful contributions throughout the
project. We are grateful to them for giving their illuminating and perceptive opinions on
project-related matters.

Additionally, we would like to extend our sincere gratitude to IBS Hyderabad for providing us
with the chance to collaborate on this important project.

3
 CONTENTS

1. Executive Summary

2. Introduction

3. Products

3.1. Sugar

3.2. Lakme

3.3 Maybelline

4. References

4
 1. EXECUTIVE SUMMARY

The pricing determination policies and procedures of the cosmetic sector have been the main
subject of our entire report. The report's subjects have been grouped into a variety of
segments. First, we spoke about how the report came to be, what it was supposed to do, how
it was put together, and its limits. Then, for the reader to fully understand the things we will
be discussing, we have included the theoretical background information. After that, we
briefly talked about cosmetic brand. The report's main section, which covers a variety of
viewpoints, new products, their costs, and ideas for policy and practice, is now where we are.
Finally, we concluded based on the entire report.

5
 2. INTRODUCTION

The global market for cosmetics will increase at a CAGR of 5.0% from 2021 to 2028, from
$287.94 billion to $415.29 billion. The modern lifestyle of people has made cosmetics an
essential component. Furthermore, one of the main elements influencing the usage of cosmetics
in the worldwide market is the rise in consciousness of external attractiveness in conjunction
with individual intelligence. To support the expansion of the global cosmetics industry demand,
males are now increasingly using cosmetics in their daily lives, alongside women. Therefore,
the global cosmetics business has expanded because of such shifting lifestyles.
To increase sales in several nations, manufacturers are changing their approaches to product
branding and promotion. Manufacturing businesses have employed innovative tactics to boost
sales of their cosmetics items, including the introduction of new products with all-natural
ingredients and attractive packaging. Since cosmetics have become an essential part of people's
life, consumers—particularly women—prefer to use cosmetics that are portable and simple to
use while travelling or attending social gatherings. In addition, a well-liked tactic of
manufacturers to draw in more clients is the use of natural substances to produce cosmetics
goods, which have no negative effects on skin. The revenue of businesses in this sector is also
increased as a result. The market for cosmetics worldwide is driven by the combined strategies
used by producers.
The most successful sector in India is color cosmetics, which includes makeup for the lips,
face, and eyes. Due to the long-term health advantages, it provides for the skin, local businesses
like Boutique, and Himalaya, among others, only sell herbal/ayurvedic cosmetics goods.

In India, the online consumer products sector has grown quickly over the past three to four
years because of rising internet usage. Vertical specialists, such as Nykaa, Purplle, and others,
have become interested in this market as they compete for a sizeable share of the online
cosmetics market while riding the wave of e-tailing expansion. In India, Nykaa has more than
600 brands available in its physical and online storefronts.

6
2.1 SCOPE OF THE REPORT

Cosmetics can be used to modify a person's appearance completely so that they resemble
another person, animal, or object. They can be used to add color to a person's face, cover
blemishes, enhance natural features (such brows and eyelashes), and enhance one's appearance
(via makeup). The products of India Markets are divided into categories, product types, and
distribution methods. The market is divided into two categories based on the type of product:
color cosmetics and hair styling and coloring products. The market is divided into four
categories based on the distribution channels: hypermarkets/supermarkets, specialty shops,
pharmacies and drugstores, online retail stores, and other distribution methods.

2.2 RISING PENETRATION OF COLOUR COSMETIC PRODUCTS IN THE

COUNTRY

Colour cosmetics are one of the markets in India that are expanding the fastest because to the
increase in the embrace of western culture. The prevalence of colour cosmetics items in the
Indian market is developing as the aesthetic attraction among the younger population rises.
According to estimates, India is one of the Asian nations with the quickest rate of growth for
colour cosmetics.

Due to the growing demand for these products across significant segments of Indian society,
Indian enterprises are entering the market for organic colour cosmetics. A variety of makeup
essentials designed exclusively for Indian skin tones and textures have been created by Indian
firms like Himalayas and Biotique. Their goods go beyond makeup to provide extra value-
added skincare, and the range of colour cosmetics includes lipsticks, eye pencils, and blush,
which in turn increases the sales of colour cosmetics in the nation.

Cosmetics Market Forecast & Segmentation:

Forecast Period 2021-2028

Forecast CAGR 5.0%
2028 Value Projection USD 415.29 Billion
Cosmetics Market Size in 2020 USD 277.67 Billion
By Category, By Gender, By Distribution Channel,
Segments Covered
By Region 7
Table 2.2
 3. BRANDS & THEIR PRODUCTS

3.1 SUGAR COSMETICS

3.1.1 INTRODUCTION

One of the top premium cosmetic brands in India, Sugar Cosmetics has a cult following among
millennials. Thanks to its clutter-breaking attitude, distinctive low-poly packaging, and
bestsellers, Sugar is the cosmetics brand of choice for strong, independent women who reject
stereotypes. From innovative facilities in Germany, Italy, India, the United States, and Korea,
the company exports its best-selling products in the Lips, Eyes, Face, Nails & Skin categories
to countries around the world.

Fig 3.1
In the middle of 2015, SUGAR Cosmetics joined the Indian market. The company pioneered
the "mattes" trend in the cosmetics business with their matte liquid lipsticks and matte
eyeliners. Since then, SUGAR has had 450+ SKUs available in India. With a cruelty-free
collection that is high on design and high on performance, the company is committed to
creating products that are a wonderful fit for every Indian skin tone throughout the seasons and
throughout the calendar. With a goal of reaching every cosmetics user in the nation, Sugar
Cosmetics is actively growing its strong presence with 10,000+ retail shops across 130+ cities
by 2021, supported by the trust of marquee investors and the enthusiasm of millions of beauty
enthusiasts.

8
3.1.2 MARKETING STRATEGY

With an emphasis on performance marketing, partnerships with influencers, and content-driven

marketing, the cosmetics company started out as a digitally native brand identity. Following
the expansion of their retail presence, SUGAR has been investing in a range of other ATL and
local BTL efforts, including OOH branding, print and radio advertising, partnerships with like-
minded brands/entities, and active involvement in events.
2020 marketing plans will include OOH and other innovative types of advertising in
conventional media, keeping up with the Omni-channel strategy. You should expect to see
SUGAR work with more like-minded celebrities, corporations, and organizations in the future.
The brand will continue to engage in digital advertising, social media marketing, and influencer
marketing. Regarding BTL operations, SUGAR intends to expand its event presence and create
its own intellectual properties. Along with creating unique and intriguing items, the approach
includes retail marketing and visual merchandising.

3.1.3 TARGET MARKET

The target market for Sugar Cosmetics is women between the ages of 18 and 25 who they
thought were mistreated by the competition. The team had the time, chance, and information
to identify their target market thanks to the FAB BAG experience. In addition to being loud,
opinionated, knowledgeable, and looking for rapid pleasure, SUGAR's target consumer
exhibited other characteristics. These young women did not identify with the mass-market
companies' celebrity-driven advertising or the luxury behemoths' frequently threatening tone.

3.1.4 PRICING

The price you charge to your customers will directly affect the business's performance,
regardless of the kind of goods you sell. The Foundation is priced between Rs. 399 to Rs. 999.
paying attention to consumer feedback, abstaining from discounts, and emphasizing summer-
oriented material the plan has been successful. The company's yearly sales reached Rs 100
crore.

9
 Fig 3.2

3.1.5 POSITIONING

SUGAR Cosmetics started as a direct-to-consumer cosmetics brand in 2015. Sugar is

well-positioned at the intersection of two significant trends. A fast-growing beauty business
and rapidly increasing online penetration. The USP of this cult-favourite makeup
brand amongst young Indian women is that they're built to last on Indian skin through
the Indian weather conditions & have the most inclusive range in terms of being
suitable for the largest spectrum of Indian skin tones.

Sugar Foundation Products Price

Sugar serum foundation forty-two glace Rs 399

Drop the base serum foundation Rs 450

Rage for coverage 24Hr Foundation Rs 719

Sugar ace of face foundation stick Rs 999

10
3.1.6 NEW PRODUCT (SUGAR-ORGANIC TINT)

• INTRODUCTION
The Indian cosmetic brand Sugar rose to its fame during the pandemic with a 60% growth from
its pre-lockdown numbers. Because they have a strong hold in the market, it is the peak time
to introduce organic products because India as a market is becoming increasingly aware of the
benefits of organic products. Keeping this in mind, the product Organic Tint can be introduced
in the market.

Organic Tint is an organic lipstick product which will be 100% vegetarian and cruelty free.
The product will be very safe to use as there will not be any added toxins which can harm the
lips. The product can be used daily as it will not discolour the lips. The product will also provide
sun protection as will SPF. The product will also be sustainable and will not leave any toxic
footprints in the environment and will not cause any pollution. The product will also be non-
allergenic and even if there is some allergic reaction, it will be due to natural products.

• SEGMENTATION
This is the first step of the process of identifying the potential customers. The process is usually
to look for common characteristics such as shared needs, common interests, same gender, and
even same demographic factors. The reason for this process is to identify high yield segments
which can provide high profit to the businesses.

The main purpose of the product is to reach the mass population so that the USP of the product
can be highlighted. The segment that can be targeted to gain maximum profit is the female
population specially the age range of 18 to 45 years.

• POSITIONING
The place that the brand takes in the mind of the consumer, it distinguishes the product from
the competitor’s product.

11
The features that will distinguish Organic tint from the competitor’s product is that it will be
organic which is 100% vegetarian and cruelty-free. It can be used daily as it is natural and will
not lead to discolouration of the lips. It will also have SPF which will protect the lips from heat
damage.

• MARKETING STRATEGY

a) Product: The first part of marketing a product is to define the product and highlight its
unique selling point so that the product stands out from the other products in the market.
It is a major factor in distribution. The type of product will also determine the price and
how it should be promoted.

Organic Tint is an organic product that is mindful of the environment and is made from
very natural ingredients.

b) Price: The amount that the consumers are willing to pay for the product. The price of
the product must be set by considering its real and perceived value. The supply cost,
seasonal discount, and competitor’s price should also be considered while deciding the
price.

As the product is for the mass population, the price range will be very average so that
even financially mediocre people can afford the product. The price will be around Rs
300 to Rs 350.

c) Place: The availability of the product i.e., in brick-and-mortar stores or online, and how
it will be displayed to be able to reach the desired segment.
The product Organic Tint will be available online as well as offline. The product will
be available in cosmetic stores and even in the cosmetic section of the departmental
stores. It will also be available on the company’s website.

d) Promotion: The goal is to let the consumers know that such a product is available in
the market and to create demand for the product.
12
 The type of promotion that will be adapted for this product is by providing samples with
the existing products. Advertisements in television and online will be done to promote the
product.

3.2 LAKME

3.2.1 INTRODUCTION:

Indian cosmetics company Lakme is owned by Hindustan Unilever. It was founded in 1952 as
a 100% subsidiary of Tata Oil Mills when Prime Minister Jawaharlal Nehru convinced JRD
Tata to produce beauty items in India out of concern that Indian women were spending precious
foreign currency on them. After joining the firm as a director, Simone Tata rose to the position
of chairman. Hindustan Unilever purchased the Tatas' interest in Lakme in 1998 from them for
two hundred crores. Lakme primarily offers coloured cosmetics, including lipsticks, eyeliners,
and skincare items. It debuted its e-commerce platform in December 2018.

Lakme also has 485 beauty parlours under the Lakme Lever brand as of 2021. The business
serves as the official title sponsor of Mumbai's biannual Lakme Fashion Week (LFW). Kareena
Kapoor, Kajol Devgan, Shraddha Kapoor, and Ananya Pandey serve as brand ambassadors for
Lakme. Lakme was listed as the 104th most trusted brand in India in The Brand Trust Report
2012, while the following year it was listed as the 71st most trusted brand in India. According
to the 2014 Brand Trust Report, Lakme was placed 36th among India's most trusted brands.

13
Fig 3.3
3.2.2 MARKETING STRATEGY:

Lakme's marketing strategy analyses the brand using a marketing mix methodology that
includes the four Ps (Product, Price, Place, Promotion). There are several marketing tactics,
such as price strategy, promotion planning, and product innovation. These commercial plans,
which are based on the Lakme marketing mix, aid in the brand's commercial success.
The Lakme marketing strategy aids in the brand/competitive company's positioning in the
market and the accomplishment of its corporate goals & objectives. Additionally, Lakme
provides a website for wedding stylists that looks to inspire brides with regard to bridal beauty,
fashion, ideas, healthy alternatives, and wedding extras. For Lakme, Lakme India, and Lakme
Bride, there are different websites.

3.2.3 TARGET:

Lakme has been successful in attracting the attention of girls and women, its core target market,
through a variety of activities that appeal to them. It primarily targets customers in the 35 to 55
age range who are mid-career and want to look young by dyeing their grey hair or utilizing the
beauty and skin care products.

3.2.4 PRICING STRATEGY:

Lakme has set the prices for its goods to reflect the importance of India as a market.
Additionally, Lakme introduced a new line called the 9 to 5 collection, which catered to
working women and had somewhat higher costs than their standard offerings. Lakme also
offers an entirely special line of products for the modelling and glamor industries. Due to its
reach into both urban and rural populations, its prices are adjusted appropriately. Lakme is the
top domestic cosmetics brand in India because of its customer-friendly price policy. This
provides information on Lakme's pricing approach.

14
 LAKME LIPSTICK PRODUCTS PRICE

Lakme absolute lipstick 800

Lakme enrich matte 295

Lakme cushion 284

Lakme women 299

Lakme forever matte 295

Lakme 9 to 5 primer 500

Lakme lipstick red 275

3.2.5 POSITIONING:

The advertisement is entertaining and lively. It portrays the hectic and varied daily schedule of
several females. They are all gorgeous, vibrant, and busy. They always find time to take care
of themselves and look presentable while leading busy lifestyles. Carpe Diem’s places a high
value on the present and strives to maximize fulfilment from each moment. These individuals
are very impulsive and daring. For the Carpe Diem, appearance is paramount, thus they go to
great lengths to maintain a presentable appearance. They often stay abreast of both current and
emerging market trends. People that identify with the Carpe Diem sector enjoy visiting upscale
locations and, as a result, enjoy spending money. They work hard to become financially
independent and independent in every other manner. Consequently, having a successful career
is vital for them.

3.2.6 ADVERTISING AND PRICING STRATEGY:

Lakme has made sure to be easily and conveniently accessible throughout the entire country.
It is readily available in all types of establishments, including retail outlets, convenience stores,
hypermarkets, malls, etc., and has a well-designed website. India's major cities are all home to
15
Lakme salons, and new ventures are being developed in other locations.
Lakme has never been reluctant to invest in advertising. Lakme has consistently maintained a
place in the minds of its clients with its rigorous advertising campaigns starring prominent

actresses and promotions in television, internet advertisements, magazines, newspapers, etc.

Lakme has used an aggressive marketing approach. Indian movie stars like Shraddha Kapoor,
Kareena Kapoor, Katrina Kaif, and other top models serve as its brand ambassadors. Lakme
provides a sophisticated training facility where employees may receive professional
development training in Chennai, Delhi, and Mumbai. It also features a research and
development lab where several innovative methods of product application, formulation, and
design are explored. Retain its awareness and spread the word about the brand as much as
possible, it also organizes Lakme India Fashion Week twice a year.

3.2.7 NEW PRODUCT (LAKME- SHADE ME)

• INTRODUCTION
Lakme is an Indian cosmetic brand operating since 1952 and has launched varied products such
as eyeliners and skincare cream since then. They cater to the needs of the Indian market and as
India is a land of colours and culture the new product Shade Me will appropriately fit the
market.

The product Shade Me is a cream lipstick that will be inclusive of all shades that can match
Indian skin tones. As the beauty industry heavily leans towards the fairer skin tones, most of
the time, Indians get neglected so this product which only focuses on matching the Indian skin.
The shades will have a variety of ranges and they will also have SPF which will protect them
from UV rays.

This product will not just be mindful of Indian skin tone but also provide protection and the
cream finish with an oil base will give the lips a very dewy and hydrating look instead of the
dry and cracked finish that other brands of the same product provide. The products will also be
made with a formula that can be applied in all seasons. The product’s goal will be to enhance
natural beauty by complimenting Indian skin colour.

16
 • SEGMENTATION
This is the first step of the process of identifying potential customers. The process is usually to
look for common characteristics such as shared needs, common interests, same gender, and
even same demographic factors. The reason for this process is to identify high-yield segments
which can provide high profit to the businesses.

The main purpose of the product is to reach the mass population so that the USP of the product
can be highlighted. The segment that can be targeted to gain maximum profit is the female
population especially the age range of 18 to 45 years.

• POSITIONING
The place that the brand takes in the mind of the consumer, it distinguishes the product from
the competitor’s product.

The feature that will distinguish Shade Me from the competitor’s product is that it will have a
wider range of shades that will cater to a wide range of people. It will also have SPF which will
protect the lips. Its cream-based formula will provide the hydrating and dewy finish.

• MARKETING STRATEGY
a) Product: The first part of marketing a product is to define the product and highlight
its unique selling point so that the product stands out from the other products in the
market. It is a major factor for distribution. The type of product will also determine
the price and how it should be promoted.
Shade me is a product that will be mindful of the Indian shades of skin tone, and it will
have SPF protection.

b) Price: The amount that the consumers are willing to pay for the product. The price
of the product must be set by considering its real and perceived value. The supply
cost, seasonal discount, and competitor’s price should also be considered while
deciding the price.

17
As the product is for the mass population, the price range will be very average so that
even financially mediocre people can afford the product. The price will be around Rs
250 to Rs 300.

c) Place: The availability of the product i.e., in brick-and-mortar stores or online and
how it will be displayed to be able to reach the desired segment.
The product Shade Me will be available in both online and offline stores. The product
will be available in cosmetic stores and even in the cosmetic section of the departmental
stores. It will also be available on the company’s website.

d) Promotion: The goal is to let the consumers know that such a product is available
in the market and to create demand for the product.
The type of promotion that will be adapted for this product is by providing samples
with the existing products. Advertisements in television and online will be done to
promote the product.

18
 3.3 MAYBELLINE

Fig 3.4

3.3.1 INTRODUCTION

Maybelline New York is the world's top beauty brand, with stores in over 129 countries.
Maybelline New York, which offers over two hundred items, combines mechanically propelled
formulas with the on-pattern aptitude to develop authentic beauty care goods with a cool, urban
edge and a vivid style.

3.3.2 MARKETING METHODS

Collaborations, brand ambassadors, partnerships, and effective traditional and digital

advertising are all part of Maybelline's marketing strategy.

Maybelline's social strategy is centred on the creation of visual content. The brand also actively
engages everyday influencers — those friends, family, and peers who have large social
networks and enjoy sharing their opinions. Free products and samples are sent to customers,
and they are invited to share their experiences by submitting product reviews and content on
social media.

Maybelline has gotten ahead by using word-of-mouth marketing, with its incredibly cost-
effective returns

The company has built its reputation on thoroughly understanding what drives its customers to
19
talk. It optimizes all marketing touchpoints to activate offline and online customer discussions.
3.3.3 MARKET TARGET

Choosing a target market is crucial because it helps the company direct its resources toward
clients with a high potential for sales growth, product interest, and brand loyalty.

Maybelline is one of the most well-known brands in the world. Its target market is entirely
comprised of women aged 15 to 45, with an emphasis on working mothers, of all backgrounds.

Lately, the brand has become more contemporary for women of all races. Like most girls during
the age of sixteen start using makeup products, this age group becomes the most targeted one.

3.3.4 PRICING

Maybelline has a mid-premium pricing policy because it offers high-quality products. Because
the brand faces stiff competition from rival brands, it has implemented a competitive pricing
strategy to gain a consumer market advantage. It has kept its product prices competitive with
competitors' comparable products, allowing it to gain a larger market share in the cosmetics
industry.

Maybelline's pricing strategy and approach have resulted in product and performance success
for the company. The pricing approach employs standardised prices for all items, increasing
product demand and brand loyalty. Maybelline has seen exceptional growth because of this
strategy. It stems from a mindset that prioritises value for all consumers, not just those who can
afford it.

3.3.5 POSITIONING

A brand's position in customers' minds is referred to as positioning. Maybelline has positioned

itself as a daring, trendy, clever, serene, hip, and unflappable brand with a sophisticated
viewpoint. Maybelline is positioned as a brand with a wide range of items that are easily
accessible and of high quality. Maybelline products are all about style, colour, and innovation.
It is known as a colour authority and makes items with seasonal colour combinations in the
hottest tones. Many makeup fans enjoy this brand since it is widely available and offers a
20
diverse product selection.
3.3.6 NEW PRODUCT (Maybelline- Glam-lip)

• INTRODUCTION
The most popular cosmetics brand in the world, Maybelline New York, is sold in over 129
nations. Maybelline New York, which has more than two hundred products available, blends
innovative technology with trend-savvy know-how to provide affordable cosmetics with a
stylish, urban edge and a vibrant attitude.

GLAM-LIP is a new product that is brought to market, “GLAM-LIP” is a unique one that is
something different from the existing one in the market. Which concentrates on the working
women of the age group 24-35 who try to seek attraction. The ingredients used in the Glam
lip are 85 % manufactured from natural products which may make the product seek demand
from the market.

• SEGMENTATION
The process of finding new consumers begins with this phase. Commonalities including similar
requirements, related hobbies, gender, and even demographic factors are frequently sought for.
The goal of this technique is to locate high-yield markets that may bring firms significant
profits. The product's primary goal is to reach a large audience so that its USP may be
emphasized. The female population, particularly those in the 18–35 age bracket, may be
targeted to make the most money.
To segment a market is to break it into identifiable, actionable, lucrative, and segmented pieces
that have room for expansion. In other words, due to constraints on time, money, and effort, a
corporation would not be able to target the whole market.

• POSITIONING
Positioning describes how your product (item or service) compares to competing goods and
services on the market as well as in the minds of customers. A strong positioning lets a product
stand out from the competition and encourages customers to see the clear advantages of
adopting it. Mainly focuses on the customer who is the ultimate successor of the product. The
Glam lip will be different from the other product, which consists of 85% of natural ingredients
which is different from the competitor product, and it is also the satisfaction after using various
products from the competitor product. 21
• MARKETING STRATEGY
a) Product: The first step in marketing a product is to describe it and emphasize its
distinctive selling proposition so that it stands out from competing goods on the market.
It is a crucial component of distribution. The kind of goods will also influence its cost
and marketing strategy. Glam lip which are inclusive of natural ingredients which are
unique from others.

b) Price: The price that customers are prepared to pay for the good. The product's true and
perceived values must be considered when determining the pricing. When determining
the pricing, other factors including supplier costs, seasonal discounts, and rival prices
should be considered. Given that the product is intended for the public, the price range
will be reasonable, making it affordable for even those with ordinary incomes. The cost
would be in the range of Rs 250 and Rs 350.

c) Place: The product's accessibility, including whether it will be sold in physical

locations or online, as well as how it will be exhibited to appeal to the target market.
Glam lip will be offered in both online and physical places. The product will be sold in
cosmetic shops and even in the department stores' cosmetic aisle. Additionally, it will
be accessible on the business website.

d) Promotion: The objective is to generate demand for the product by letting customers
know that it is accessible on the market. Offering samples with the current merchandise
is a form of promotion that will be customized for this product. The product will be
promoted using television and web advertisements.

22
 4. CONCLUSION

▪ The cosmetics industry is growing, with new products coming out every now and then,
there’s always exciting ways to rediscover beauty.
▪ Cosmetic industry is rapidly moving towards a scientifically driven industry based on
product development through R & D. R&D helps in catering the latest market to a great
extent.
▪ However, as technology is driving the change, there are still a lot of though process that
need to go into the cosmetic industry mainly because of lack of regulations around the
use of cosmetic products and ingredients.
▪ Marketing Myths are something that lurk around as people tend to follow influencers
across on social media. Beauty education is important and is the need of the hour .

Cosmetics ability to uplift our spirits, enhance our attractiveness, and increase our self-esteem
is one of the cosmetic industry's most important benefits. They can also aid in expressing
personal style, and as such, they are a crucial tool for social expression.

There ability to reach many social and corporate categories thanks to their varied product
offering allowed them to keep their market share. Target audiences for cosmetics brands share
comparable traits in terms of promotion technique. Brand positioning, target audiences, and
even marketing mix techniques are causally related for cosmetics companies. The media
heavily influences how a brand is perceived, and brand loyalty is more strongly influenced by
symbolic than by functional images. The cosmetics sector has succeeded in remaining
noticeable in the market by introducing new products.

23
REFRENCES

1. https://www.lakmeindia.com/

2. https://www.fortunebusinessinsights.com/cosmetics-market-102614
3. https://www.lakmeindia.com/collections/new-
launches?utm_source=google&utm_medium=cpc&utm_campaign=Performance_Max_
04-09-
2021&utm_term=&utm_content=&gclid=CjwKCAjw6raYBhB7EiwABge5KkqzyaDdC
I3QSm0dTKjiTGNTlUlflb6TdVfZqKmB0qGKm-ErA
4. https://startuptalky.com/sugar-cosmetics-success-story/

24