Explain how has Radant Beauty used the elements of its marketing mix to meet the needs and wants of its target market (Generation Me).Your answer must clearly indicate the specific activities that Radiant Beauty undertook under the headings of:- PRICE (The answer should go beyond merely regurgitating the actual price quoted in the case and clearly explain the pricing strategy that the company utilized_. CONSUMER BENEFITSNotes:Bother answers must be relevant to the case and must be based on sound marketing principles and the insights you gleaned from analyzing the case. A Radant Beauty for a New Generation When Sam Rainer launched Radant Beauty in theUSA in spring 2021, it was with a clearly articulated marketing strategy - a hefty first-yearsales goal of $1.7 Million. Nine months after rollout, Rainer's plan seemed to have workedquite well. His skincare company and product line had already topped the $1 Million markand showed no signs of slowing.The line was formerly owned Zirh Skin Nutrition, a male skincare line that was acquiredby Shisheido in 2000. Rainer immediately recognized an underserved market segmentamong young people ages fifteen to twenty-nine, a group he called "Generation Me". Acombination of Generation X and Generation Y, Generation Me had long been ignored bythe more recognized skincare companies, which tended to make products to help olderconsumers fight such skin ailments as wrinkles and recondition ageing skin. No seriousconservatively priced high-end skin care solutions existed for young skin problems, suchas oily skin, combination skin, and acne. That is, until Radant Beauty entered the market.Radant Beauty's twelve-product line was developed by a group of dermatologists focusingon prevention and maintenance rather than repair. Although the products are seriousskincare, their names all tie into the lingo used by the Generation Me market. Clean Meface wash, Scrub Me Gently facial scrub, Make Me Soft facial moisturizer, Help Me acnecream, Renew Me face peel, Make Me Moist body lotion, Rub Me message oil, Wash MeEverywhere body wash, Scrub Me Harder body scrub, Heal and Protect Me face and bodycream for calming and reducing redness, and newest product, Shield Me sunscreen get withSPF 15. Radant Beauty intends to focus exclusively on skin care- and not branch out intocosmetics - in order to avoid losing the message of serious skincare. So, with only elevenproducts when the line was launched. Shield Me was added in Spring 2002).How did Radant Beauty ring up so many sales in such a short period of time? The startingpoint was zeroing onto the Generation Me market. Rainer wanted to identify what a fifteento twenty-nine-year-old wanted. He found that they were consumers concerned about "me"and wanted products exclusively for "me". Once the market was clearly identified, Rainerdeveloped a product line to meet its needs and wants. That is why none of the flagshipproducts contained sun protection.Generation Me likes to look tan, and Radant Beauty products are geared toward a youthfulmarket. The new Shield Me seems to send a conflicting message, but the SPF 15 only givesenough protection not to burn during daily activities. Also appealing to the larger targetmarket is the product packaging. Colourful products packaged in clear bottles with funkywriting attract interest. Creamier products are in an innovative style of packaging referredto as a "tattle" which is a tube and bottle combined, which prevents accidental dischargeof the product.Once the market and products were ready, Radant Beauty introduced them to high-endretailers like Henri Bedel, Bloomingdale's, Fred Segal, and Nordstrom. The idea was tobuild relationships with stores, train store personnel, and make brochures, literatures, andsamples available to store customers. Radant Beauty co-sponsored a Teen AppreciationDay at Bloomingdale's during the 2001 back-to-school season with Ralph fragrances, Tony& Tina cosmetics, and Lucky magazine. Teens received free facials and makeovers duringthe event, which generated a month's worth of sales for Radant Beauty in a single day. Thecost of the sponsorship was minimal.Keeping promotion costs minimal has been a key tactic for Rainer. Rather than roll out hisnew product and company with a pricey national advertising campaign, he chose to usecatalogue inserts, postcards, in-store support combined with a heavy sampling programme,and store events like the Teen Appreciation Day. Low promotional costs help RadantBeauty make the most of its pricing strategy. Price points range from $15 for the Rub Meand Scrub Me products to $20 for Help Me acne products.In a market full of high-priced products aimed at older consumers, Radant Beauty iscertainly poised to be a long-term success. Radant Beauty brings together a fun, coolskincare line (that's still serious and effective) with the niche market it was designed toserve.

Note: As per demanded in the question, we are only writing about the Price element of the marketing…

Answered: Explain how has Radant Beauty used the…

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ