Target Market Strategies and Potential Barriers

Target Market Strategy
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Target Market Strategy
A new product selected for this case is cosmetics products for hair care and grooming. The product will be used by men and women based on their needs. The cosmetic industry serves two different markets since the needs of men and women are different in terms of demand for cosmetics products. Therefore, the company offers similar products with different brand names to provide alternatives to both genders. Today, the beauty industry is full of opportunities and is a gold mine for a large variety of beauty and personal care products.
Consumers are on a journey of exploration. They are enjoying new products and identifying new brands. This is part of a huge generational shift of younger consumers rejecting the traditional brands preferred by their parents and opting for locally-made natural products in all consumer categories (Avila Rodríguez et al., 2018). Young, independent brands are supporting creativity in this industry. It appears that every day, a new brand with a new idea about beauty products is emerging. Entrepreneurship is expanding in the cosmetics industry. This essay evaluates the strategy for cosmetic products to enter the market, barriers to entry, and plan to ensure product success.
Strategy for Entering the Markets
One of the strategies to enter a new market is an innovation strategy. This involves using different ingredients in cosmetic products. Currently, the most successful cosmetics products in the market are the ones that perform the latest innovations in ingredient design, packaging, and product development (Haddara et al., 2020). As such, it would be imperative to offer natural and sustainable products and those with better ingredients. Also, supplying products with every recyclable component that achieves a zero wastage goal will be an added advantage. Such beauty products will attract consumers and find their way into the market quickly.
The second strategy is the internet marketing strategy. Putting the product on the web is an effective way of promoting the cosmetic brand. A large population of the target market is youth, who are active internet users. They search and shop online. Performing online marketing will help in creating awareness of the product. To do so, it will be imperative to first have an e-commerce website with all relevant information, such as the description of the cosmetics products and their quality images, costs, and navigational features (Kim & Chaiy, 2015). It will also be crucial to include the company’s address and other contact details. Using various social media platforms such as Facebook, Twitter, and YouTube will help in introducing the products into the market. These virtual markets are ideal for reaching large populations of potentia...