IRI identifies 4 elements key to driving productive promotions
- Portfolio strategy: It isn’t necessary to promote all brands. Instead, assess the role of different brands and identify those that are likely to benefit from promotional activity;
- Brand strategy: Having a simple and clear value proposition is absolutely critical. If it’s premium, it’s vital to maintain premium price positioning and apply those same principles for a value brand;
- Channel dynamics: Marketers must focus on emerging channels and segment their customer base to determine which channels and which customers are most important to each of their brands; and
- Consumer needs: Marketers must understand which brand attributes are most valuable to their key consumers and reflect these attributes in all promotional materials.
Revlon challenge raises $2.75 million for women’s health orgs
Argan oil attracts beauty consumers
AZUSA, Calif. — Argan oil has been a huge ingredient story in hair and skin care over the past few years. Inspired by that success, Physicians Formula decided to add the coveted oil to its facial products. The result: Argan Wear, a collection of makeup infused with Argan Oil encompassing everything from a BB Cream to Argan Oil Blush. Retail prices range from $12.95 for Ultra-Nourishing Argan Oil Blush to $14.94 for Argan Oil Bronzer.
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“Argan Wear has been a consistent performer,” said a chain drug executive. “It helped us get higher pricepoints out of the business and brought some new shoppers into the category.”
Within six months of the launch, Physicians Formula’s Argan Wear Bronzer is already selling on par with its well-established mineral wear bronzer.