Sleek MakeUP: NPD Innovation Strategy Report

Sleek

MakeUP NPD Innovation Strategy Report

My face. My rules.

CONTENTS Introduction

Innovation Strategy

Ethics Clause 1 Introduction 2 Challenge statement 3 Methodology 4

Ansoffs Matrix 39 Opportunity Gap Analysis 42 Key NPD Concepts 43 NPD Consumer Feedback 46 Concept Prioritisation 47 Assessment Feasibility 51 Risk vs Reward 53 Size of the prize 55

Brand Content About Sleek MakeUP 8 Timeline 9 Brand Architecture 11 Brand Positioning 12 Target Consumer 15 Brand Health 17 Market Share 18 SWOT Analysis 19

Market Insight

PESTLE 21 Macro Trends 24 Market Health 34 Competitor Analysis 36 Consumer Analysis 37

Recommendations & Project Management Action to be taken 57 The future 60 Conclusion 61 Illustrations, References, Bib 62

Ethics Clause

We confirm that this work has gained ethical approval and that we have faithfully observed the terms of approval in the conduct of this project. In completing this project all intellectual property rights will be owned by Nottingham Trent University and under the conditions of completing a live project with Boots, ideas will be available for them to use.

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Word Count: 3617

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INTRODUCTION

This report will propose a new product for Boots’ superior performance makeup brand Sleek MakeUP. In keeping the existing brand architecture and position, the new products will aim to strengthen the brand amongst existing buyers, whilst broaden the brands appeal to lapsed and new users. Driving growth for the brand through a strategy that is both feasible to implement and innovative, to help contribute to the brands vision to become a $100 million brand by 2020. Recommendations for Sleek MakeUP will be supported by insights from trend research and forecasting, as well as, primary research findings.

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CHALLENGE STATEMENT To improve the product range at Sleek MakeUP using industry innovations and trends to become the most superior perfomance makeup brand on the high street, thus contributing to the brands vision of becoming a $100 brand by 2020.

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METHODOLOGY PRIMARY RESEARCH SURVEY FOCUS GROUPS ONE TO ONE INTERVIEWS INTERCOS CONFERENCE

SECONDARY RESEARCH MINTEL WGSN EUROMONITOR LIVE BRIEF COMPANIES HOUSE

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Primary Research Survey A s u r v e y o f 11 4 p a r t i c i p a n t s w a s conducted based on a series of questions regarding cosmetic habits of makeup users as well as questions about various concept ideas. The aim of the survey was to gain insight into the current consumer buying and usage habits of Sleek MakeUP’s target consumers.

The survey was aimed at both genders aged 18 to 30 years of age,who had a partiular interest in makeup, to gain a deeper understanding into the makeup junkie demographic.

Focus Groups A focus group will be conducted using females aged 18-30, to obtain opinions on the three final ideas, based on their aesthetic and practicality. The focus group will include current lapsed and new users of the Sleek MakeUP brand, to determine which new product w i l l b e t h e m o s t p o p u l a r.

The feedback given by participants will give Sleek MakeUP an outline of the how the final product will be received by customers generally and allow the brand to make amendments, prior to launching.

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Interviews Our final feedback from Sleek MakeUP’s target audience was via one on one interviews. Participants were presented with the final concept idea and asked a series of questions regarding: price, quality of idea and packaging. Additionally, participants were free to voice their personal opinions outside of the set questions.

Feedback from participants was the used to make final improvements of the product and highlight which parts of the concept needed clarifying. This helped to refine the final product idea.

Survey 1. What gender do you identify with?

5. Would you be interested in a cosmetic product which replicates the effects of fillers (e.g. fuller lips or sharper cheekbones)?

2. How old are you?

3. On average, how long does it take you to do your daily makeup routine?

4. Would you buy a cosmetic product that has dual use and/or reduces the time spent applying your makeup?

5. Would you be interested in a cosmetic product which replicates the effects of fillers (e.g. fuller lips or sharper cheekbones)?

6. What piece of makeup could you not live without?

Choose one.

7. What features attract you to browse a makeup stand/ concession within a store such as Boots? Pick three.

8. Would you be interested in a makeup range which offers skin nourishing benefits, such as providing moisturisation, sun protect, vitamins and minerals?

9. What would you like to see change/happen in the future of cosmetics? Please summarise briefly in the box provided.

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75%

8. Would you be interested in a makeup range which offers skin nourishing benefits, such as providing moisturisation, sun protect, vitamins and minerals?

93%

Seconday Research Brand History - Live Brief - Sleek MakeUP Website Trend Analysis - Mintel - Euromonitor - WGSN Market Data - Mintel - Euromonitor

Competitor Analysis - Mintel - Competitor Sites - Companies House 7

About Sleek MakeUP As one of the fastest growing brands on the highstreet, Sleek MakeUP offers innovative and superior performance makeup, with a strong pigmentation and high quality. Sleek MakeUP has understood skin tone from its beginnings, catering from light to dark and everyone in between, with an aim to create products which can recreate the latest trends truly accessible.

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Sleek MakeUP Timeline

Zebbra Wholesale

1989

1995

Zebbra wholesale is created: a store designed to sell more pigmented and inclusive makeup for women of different ethnicities.

The brand as we know of today, Sleek MakeUP, as we is created. The brand maintains a continuous focus on all-embracing pigments.

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My face.

My rules.

2006 Sleek has an innovative rebrand. Sleek is positioned as a high performance makeup brand against competitors, with the vision of becoming the most pigmented and innovative high-street brand.

2017 Sleek MakeUP enters the US market. They set a brand vision to become a $100 million global brand by 2020.

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Sleek MakeUP team up with anti-bullying charity ‘Ditch the Label’ creating the MY FACE. MY RULES. campaign to combat stigmas surrounding makeup users.

Brand Architecture FACE

EYES

LIPS

Bases Bronzer Concealer Contour Foundation Powder Highligher Blusher

Eyebrows Eyeliner Eyeshadow Mascara

Lip Colour Lip Gloss Lip Liner Matte Lips

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Brand Positioning A series of brand positioning maps were created aimed to identify Sleek MakeUP’s distinctive position, relative to competing brands, in mind of the consumer. This strategy will allow Sleek MakeUP to distinguish their main functions: what it is, what it does, how it does it, etc. And whether they have positioned themselves correctly according to their main functions, inexpensive or premium, utilitarian or luxurious, entry-level or high-end.

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A brand positioning map to asses the Sleek MakeUP brand  against its competitors measured using a age axis (younger or older) and market type axis (premium or mass).

Sleek is a fairly established brand with a current 23 year life span but this is still a fairly new and upcoming brand in comparison to sleek’s main competitors like MAC and Avon. In the mass market and premium segment Sleek is mass market as it is at an affordable price point and is available on the high street.

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A brand positioning map to identify Sleek MakeUPs position  against its competitors accoding to performance and price.

Sleek consider themselves as superior performance makeup due to their high pigment colour quality and accessibility for consumers of all ethnicities. They are at a reasonably low market price and are available to customers both instore and online in Boots, Superdrug, Sleek.co.uk and ASOS.

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Casi

Target Consumer Meet “Casi” Sleek MakeUP’s target consumer. Being 22, Casi has learnt from her teenage years to allow herself to be genuine and confident with her true self. By having this attitude this results to Casi being very experimental with her look, and is always searching for new products, colours, textures that she can try out. Casi is heavily influenced by online make-up artists and is always scrolling her social media for the latest look she can replicate. By having a makeup bag full of a wide range of products you could describe Casi as a ‘makeup junkie’.Casi is very accepting of others and believes everyone should be free to feel their best whatever that entails, proving how she values honesty, fluidity and positivity.

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Brand Health Brand Vision Sleek MakeUP want to be the most pigmented and innovative, lead high street make up brand with high quality products.

Brand Mission

Sleek MakeUP offer superior performance make-up to everyone, catering from fair to dark skin and everything in between to make the latest beauty trends accessible.

Key Insight Pigment that compliments everyone’s complexion.

Mix, Layer, Hack.

USP ‘Skin has no gender’

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Market Share

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Strength

SWOT

Affordable price points Strong online presence and online consumer awareness Youtube channel with tutorials for consumers Collaborations with makeup vloggers Focus on diversity Strong and current brand essence Successful My Face. My Rules campaign Links to Anti- bullying charity

Opportunities

Open specialist retail store Create more varieties of diverse collections (more shades) Specialist Sleek shop assistant in concession store Seasonal collections Plumping products Makeup fixing solution In store digital technology

Weaknesses

No Sleek MakeUP store Buying online is challenging when buying makeup and consumer could buy the wrong shade (possibly Preventing new consumers) Limited shades of concealer Dull displays in concessions No sleek shop assistant in concessions Basic product range (no unique product specifically by Sleek)

Threats

Competitors already meeting trends Consumers using Sleek services but not buying their products Cost of opportunities Seasonal collections : limited to specific time

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PESTLE Political

Economical

Social

Technological

Following BREXIT, with Sleek being a British brand, it’ll be important for them to stay committed to working with European partners to ensure growth of the brand.

Another question is whether EU laws will still remain for the UK for example animal testing.

At the moment there is still a law against testing cosmetics on animals and Sleek is a brand confident in not testing on animals, which will need to remain in order to meet the desires of their target consumer.

Cost of raw materials has increased due to rising inflation with could cause Sleek to increase their prices which could affect the perception that they’re a low cost brand

Ageing population requires Sleek to remain diverse to all age groups despite being mainly targeted at 18-30 year olds.

Gender equality means Sleek should ensure their products and designs are appealing to both males and females

Increase in those Free trade on costhat shop online metic products which should encourage Sleek to improve their online journey to make sure online consumers are staying on their website and their traffic is consistent as well as ensuring their website is smartphone friendly following the increase in smartphone users and those that use their phone to shop.

An increase in UK salaries gives consumers more purchasing power however opposing this, the political instability means consumers are apprehensive about spending money which could be in favor with Sleek who are more of a budget brand.

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Legal

Environmental Sleek should remain environmentally friendly following increase in demand for these types of products. Currently they are cruelty free and contain vegan ingredients as well as remaining eco-friendly throughout the manufacturing process. However, there is a rise in the awareness of eco-friendly products which Sleek will have to adapt to.

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MACRO TRENDS

- Beauty Tech - Multifunctional - Pick, Mix and Play - Toxic 24

BEAUTY TECH Beauty brands will be using more advanced digital technology both online and instore, to provide the consumer with make-up experiences that are interactive, educational and easy to shop.

Technology is part of consumers’ everyday lives and is becoming an increasing factor into purchasing and interacting with brands. It is making shopping a more personal and playful experience with features such as eye-tracking, facial recognition and voice activation technology being integrated both online and offline. E.g. Smashbox and Modiface have trialled a new technology based on eye movement. Face tracking is being used to treat skin conditions.

“Technology has a major influence on every aspect of the beauty industry, whether it’s engaging with consumers on-the-go, creating programmes to see what a product will look like prior to purchase or developing diagnostic tools.”

- Leila Rochet Podvin, Director of Cosmetics Inspiration & Creation, WGSN.

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MULTI-FUNCTIONAL Consumers now have increasingly busy lifestyles, which demands that products need to deliver on multiple fronts, providing coverage and protection, pigment and hydration.

Integrated tools are also an important factors consumers consider when purchasing products such as compacts that contain both eye and lip colour in one formula. For example Pony lip customising product includes a 10-piece palette that has 5 base hues, 5 mixers mixing area where pigments can be combined to create up to 25 different shades.

Multifunctional packaging is enough beneficial feature that consumers can indulge in. This offers even more opportunities to consumers. For example Omnicos’ face fit contains a foundation and holographic pearls packaging designed to be used as a facial massage made from rubber.

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PICK, MIX & PLAY Personalisation and experimentation join forces to create product experiences that are bespoke and playful. Allowing consumers to fully engage by picking, mixing and making their own concoctions. (powder-based formulas will be key this year, particularly in the skin and body categories).

Beauty shops will become Instagrammable pop-up labs that allow the consumer to blend their own cosmetic formulations, where products are mixed there and then before you buy. DIY kits continue to grow in popularity, offering an easy way to make your own cosmetics with recipe menus.

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TOXIC When visiting Intercos, Milan, the trend researchers shared their results of upcoming trends. One which particularly stood out being the ‘toxic’ trend, which highlights the extremes of the fake look and how ‘fake has never looked so real’. This trend is defined by the excessive use of social media, that distorts the reality of beauty and is typically idntified with millenials particularly within the USA and EU. Specific features within the trend will include plump lips, smooth skin and defined features.

“Fake has never looked so real”

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Market Health - 67 percent of our survey respondents report using four or more websites to fulfill their beauty and personal care shopping needs.

- Online beauty expenditure is estimated at ÂŁ1.1 billion in 2017, with slow growth anticipated in future.

- Beauty and cosmetics industry is predicted to be worth over $675 billion by 2020 - Women aged 18 to 34 are the biggest portion of the cosmetics market, and they are more likely to be buying more than 10 types of products a year - The health & beauty market is forecast to grow by 21.1% over the next five years - Stores remain the primary purchase channel, with 93.5% of sector shoppers buying in store.

- However, spend continues to shift online, with sales forecast to grow 65.9% out to 2022, to reach 11.6% of the market.

- 78.0% of females buying into the category in the past year, compared to 41.5% of males

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Competitor Analysis NYX Professional Makeup is Sleek MakeUP’s main competitor, NYX Professional Makeup is a modern makeup brand with a clear focus and vision on the global colour cosmetics industry. NYX Professional Makeup competes with Sleek MakeUP as both brands create strong pigments and colour within their products at high performance level to create makeup artistry. NYX Professional Makeup has a successful multi-channel approach as their Instagram has 12.6 Million followers which can be compared to Sleep MakeUP’s low 1.1 Million followers on Instagram. While their head quarters are in Los Angeles, NYX Professional Makeup is a global brand available in thousands of retailers over 70 countries, however, Sleek Makeup is only available in USA and UK as of current.

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Consumer Analysis

25 percent of people who shop for beauty products do their research online and then buy in the store.(statista.com) 54% of correspondents asked aged 18-24 on a mintel survey and 53% of respondents agreed that non surgical cosmetic procedures are becoming increasingly normalised in beauty and grooming routines.

51% of repondants on a mintel survey aged 18-24 believed that you can achieve the same effects with beauty products that you can with non-surgical procedure.

46% of respondents aged 25-34 also believed this.

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Ansoff’s Matrix Existing products

New products

I-Divine eyeshadow palette products.

Multi-use powdered pigments for eye, cheek and lips.

New Market

Existing Market

Cream and powder contour palettes.

Cream, strobe and palette highlighters.

Multi-use plumping balm for a filler effect look on the cheeks, jaw and lips.

Matte and gloss lipsticks and lacquers.

Eyeshadow stencils.

Blushes, bronzers and highlighters.

Holiday collection with SPF and Ultraviolet protection.

Makeup saviour kit to repress and mix and match different pigments.

I-Divine mix and match eyeshadowscreate your own colour palette using already existing colours.

An interactive screen in store to help show which colours of pigments suit your individual hair, skin and eye colour.

Reaching out to the Asian market with already existing products.

An app or snapchat filter which applies sleek makeup.

Reaching out the makeup artists for the appeal of colours and pigments that suit all skin types and colours.

An anti aging primer or skin care range.

Reaching out to consumers over 30 39

A pollution protection foundation.

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GAP ANALYSIS Whilst there is already a fairly concentrated market with lip plumper’s and creams that claim to rejuvenate the skin and reduce fine lines and wrinkles, there is a gap for the Flaunt It Boost Balm which differs from other products out there. The balm has a new and innovative design which makes application clean and easy. Furthermore unlike other products, can be used anywhere on the body with the main focus on face, lips and chest and most importantly aims to plump rather than just rejuvenate.

Current similar products in the market include the Mecca Cosmetica MultiPurpose Plumping balm (40g) which is in liquid form is applied by squeezing the product onto your hands and massaging into the face. The Flaunt It Boost Balm includes more benefits than this product as well as a more adapted and flawless design. With the balm having a sweep on applicator, the product is more evenly distributed making it longer lasting and more controlled than any other product in the market. As well as this, whilst containing similar ingredients to other plumping products i.e. collagen, there are further ingredients added to the balm which make it stand out from the rest. The cooling cucumber element means the balm gives a cool tingle whilst the product kicks in rather than the burning tingle that consumers claim to find uncomfortable. In addition to this, it contains moisturizing effects, almond oils and vitamin E which allow the product to be used as a primer and with the champagne alternative, can easily fit in with the consumer’s makeup routine.

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NPD 3 key concepts D i g i t a l Sc r e e n From researching key macro trends that are emerging within the beauty industry, incorporating technology and personalisation within cosmetics seemed to be a key trend. This resulted to the concept of incorporating technology within Sleek MakeUp further than the expected use of social media and e-commerce. A major idea being to apply an interactive screen within the concession stand were the screen will scan the consumers face and pick up factors such as eye colour, hair colour, face shape etc‌ Consumers will then be asked 3 questions being: Which skin type are you? Oily, dry, normal or combination? Do you prefer a bold or subtle look?

Personality traits‌ loud, timid, fun, adventurous, glamourous etc?

Based on the information the consumer has provided and the visual scan of the consumers face, the screen will recommend 3 products to create their ideal look. As well as this, offer a 3 for 2 on the products Sleek MakeUp has recommended in order to gain brand loyalty. The risks of this going forward would be the cost of applying a screen within Boots stores, factors if it breaks or is faulty.

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T h e M ult i-use Plumping balm The second concept was created surrounding the Toxic trend. Over the past 5 years both women and men aged 1830 have been embarking on non surgical procedures to emphasise their current features like lips, cheekbones and jawline.

Derma fillers are used to plump and enlarge the individuals face. Although despite this these fillers come with a price tag which some consumers cannot afford, as well as others being scared of needles and injections.

Creating a multi-use balm which will stimulate blood flow to the consumers chosen targeted areas will give the filler effect and emulate the enhanced look without the price tag or pain. This balm can be used are a primer, a lip balm or as a makeup setter for a dewy finish. There will be the original formula and possibly a highlight pigment shade to suit all skin types.

There is currently no other balm like this on the market.

The M akeu p Savi o u r Ki t The final concept was formulated around the concept that avid makeup users may have experienced smashing their pressed pigment makeup products.

The makeup saviour kit would include setting alcohol which would be applied to the broken pigment to reset it.

A pressing tool with a choice of style pressed print would be also in the kit to boost the personalisation aspect to be more appealing to consumers.

This product can also be used within the Mix,Layer,Hack campaign as consumers can smash and repress their own colours of pigments without the worry of not being able to reset their broken makeup. This product would also attract new customers as this can be used on other brands.

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CONSUMER FEEDBACK

Have you purchased from Sleek?

Yes I have purchased from Sleek before.

INTERVIEW

What has made you purchase from Sleek?

I believe that Sleek provides good quality products at affordable prices.

Would you go back there?

Yes, I really like the products that they have to offer.

What do you think of the packaging?

I think it is nice and a convenient size to carry around with you if you want to top up your makeup during the day.

Have you ever thought of getting surgery?

Yes I have.

What procedures would you consider going through?

I’d really like to have lip fillers and possibly jaw fillers as this is what I feel needs enhancing.

Why have you not gone through the surgical procedures?

For me it is far too expensive and I’d be scared if it went wrong.

Would the Flaunt it! Boost Balm interest you?

Yes, I think the idea of being able to plump the whole of your face rather than just lips really interests me.

Do you look/care about what’s in the products that you buy e.g. extra skin benefits?

I don’t necessarily look for it but it’s always a bonus when a product has skin benefit.

Would you trust a science to tell you what makeup suits you?

Yes I would.

Do you ever talk to makeup assistants in the shops to get their opinions?

No never, there is never really anyone about to ask and I like to experiment with my makeup so I like to choose what products I buy.

Would you try and trust the face screen?

Yes I would try it but if I didn’t like the products that it recommended I wouldn’t use it again.

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Chosen Concept After

Before

CONCEPT As makeup junkies we know how difficult it can be to achieve the Instagram look without the price tag. We want a product that enhances our natural features without the permanence.

HOW IT WORKS

Each balm contains a collagen-stimulating and hyaluronic acid-boosting peptide with additional moisturising benefits almond oils, vitamin E Scented: cucumber, which leaves the skin with a cool tingle.

Last up to 3 hours Dual ended role massaging ball to stimulate blood flow.

Finally! We’ve found our holy grail, Sleek’s Flaunt It! Boost Balm. It delivers radiant and plumped results using their special collagen formula whilst providing nourishing benefits to the skin, that gives us that cushion pout on a night out!

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Flaunt It! Boost Balm ORIGINAL

C H A M P A G N E STROBE PROBLEM/INSIGHT: “I want more defined features, but I don’t want the commitment of permanent surgery.”

BENEFIT: Functional: Delivers radiant, plumped lips whilst providing nourishing benefits to the skin.

Emotional: Be your best self. Sexy, Confident, Proud.

REASON TO BELIEVE: Dermatologically tested and hypo-allergenic Collagen-stimulating balm infused with almond butter and vitamin E to give you a cushioned pout on a night out.

Leaves skin: plumped, rejuvenated with a dewy finish

Leaves skin: plumped, with a champagne strobe finish to suit all suit skin shades using light reflecting colour spectrum particles.

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PROMOTION PROTOTYPE The promotion prototype is inkeeping with adverts featured on the SleekMakeUP website. The prototype features the Flaunt It! Boost Balms slogan ‘Be your best self, which emulates Sleeks anti-bullying campaigns ‘MY FACE. MY RULES.’

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Assessment Feasibility

The new product has a clear place in the market due to it being unique to other products in similar categories. Its application is easy and the target consumer have an interest in products that allow them to see effects of cosmetic surgery without the pain or permanence. This is something you can’t yet see in the market which will determine the success of the Flaunt It Boost Balm. Following primary research including surveys and focus groups it is clear customers would reach for the product if it hit the shelves as long as they have reason to believe. We can offer this through well-known plumping ingredients that have been successful in the past with lip plumping and antiwrinkle products. Also, as the product is released we can show before and after images and blogger reviews in order to make sure customers trust the product and are willing to pay the price. The overall design of the Flaunt It Boost Balm is also feasible with an innovative but simple roll massager design that has been produced before in products such as roll on deodorant and a simple lip balm-style applicator that allows it to be produced in-house.

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Due to the balm being unique compared to other products in the market, the competitive market is small and competition shouldn’t be a major concern.

Despite there being some similar products such as the Mecca Cosmetica MultiPurpose Plumping Balm, the Flaunt It Boost Balm contains unique ingredients like the cooling cucumber that limits the offensive tingle that shows the product is working. In addition to this, the balm contains moisturizing ingredients that allows it to be used as a primer and part of the consumer’s makeup routine and is set at a bargain price of £8.99 that’s more encouraging for consumers to invest with less to lose. This shows the feasibility of the product in terms of competition, appealing to consumers and it’s success in the market.

The chosen price is supported by the relevance to the brand being affordable and a price that the target consumer is likely to pay for the results of the product. Measured through size of the prize, the cost of creation is fairly low cost due to the simple design and common ingredients. The expected number of potential trialists is 504,040 offering an annual value of £634,384.744. With this, it is expected to give an adequate return on investment and an increase in profit which make the product worth it for the brand. A risk vs reward assessment has also been conducted in order to measure whether the product is feasible and worth the risk and how the brand can overcome these risks to ensure customers buy the balm.

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Risk vs Reward

Risk Allergies

How to overcome this Include hypoallergenic ingredients to minimize allergic reactions on sensitive skin Could be categorized as skincare Include properties within the balm that makes it rather than cosmetics which makes it both a plumper and a primer as part of a makeless relevant to the brand up routine (seven layer hack)

Reward Appealing to a wide variety of consumer with different skin types Multiple uses of the products which gives more than one reason to buy the product

People might not believe in it

Get support from bloggers and before and after pictures to show physical evident

Consumers may not know how to use it

Give clear instructions on the product of what to do as well as online tutorials of all the uses

The more reason there is to believe the more consumers will buy the product Will also attract non-consumers If the product is easy to use the consumer is more likely to buy the product and also continue to buy it

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Size of the Prize

Product

Trial

Repeat Purchases

Distribution

Awareness

Target Audience (000’s) Makeup Users

Potential Trialists (10%)

Number purchases per annum per person

Potential total market volume

Year 1 Volume (70%)

Year 1 Volume (10%)

5,040,400

504,040

2

1,008,080

705,656

70,565.6

Penetration Adult Population

Target Audience % 18-30 y/o

Flaunt It! Boost Balm

64,679,700

12,935,940

Year 1 Volume

RSP per pack

Annual Value

Flaunt It! Boost Balm

70,565.6

£8.99

£634,384.744

Product

Assuming distribution for Boots is 70% Consumer Appeal Medium

Trial Rates 10%

Awareness 10%

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PRODUCT

Due to Sleek Makeup consumers typically having a low disposable income, pricing the Flaunt it! Boost Balm at £8.99 seems realistic. Sleek Makeup also regularly apply offers for their consumers, such as 3 for 2 offers and buy one get the second half price.

Customers want the ‘look’ provided by cosmetic procedures, whether that be lip fillers, jawline enhancements or defined cheekbones. Sleek Makeup’s ‘Flaunt it Boost Balm’ can provide this look temporarily for consumers to use as and when they wish. The balm contains a collagen-stimulating and hyaluronic acid-boosting peptide with additional moisturising benefits from almond oils and Vitamin E. It will contain a cooling cucumber feel and scent as oppose to the stingy, fiery effect that some lip plumper’s have, making it more comfortable for consumers to use. Leaving the skin feeling plumped, rejuvenated and with a dewy finish.

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PRICE

ACTION TO BE TAKEN

PROMOTION

Social media is an essential platform for brands to promote their products/services. Instagram is a strong, visual platform that Sleek regularly use to promote not only their products but their ‘my face my rules’ campaign, which would be a successful way to promote their new product.

PLACE

Getting a beauty blogger on board such as Manny Mua would be beneficial due to millennials following online beauty tutorials. According to his tutorials he is a regular consumer of Sleek, particularly the highlighters. By sending him the Flaunt it! Boost Balm’s, this will allow him to show consumers how he would use it and possibly make suggestions or recommendations.

Sleek Makeup places their products both in-store and online with retailers such as Boots and Superdrug and on the brands, own website.

However, with this product there will be exclusive distribution with Boots both online and instore as well as Sleek MakeUp’s own website.

If successful, the product could be sold through further online retailers such as their recent partnership with ASOS. 58

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The Future What we could do with the product if its successful‌ The Flaunt it! Boost balm is predicted to be a very popular new and innovative product on the market which is all about its multi use functions emphasising ones natural features like cheekbones, lips and jawline.

If the original and champaign strobe formulas are popular with the consumer we will look into creating an amplifying multi use lip and cheek trio of shades that emulate sleeks already existing lip and cheek duo products but with the plumping bonus.

We would also look into creating a colour correcting range of boost balms to be used as more of a primer like the original formula. These will be colours like pastel purple, green and red to combat red marks, uneven skin tones and spots with added health benefiting active ingredients.

After the success we would also embark on possible expansion to new markets like Sleek concessions within the US to make the boost balm an international product to eventually become part of Sleek’s hero collection.

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CONCLUSION To conclude, based on both primary and secondary research carried out within this report, Sleek MakeUP’s new Flaunt it! Boost Balm has the potential to succeed. Due to the product, not only being highly relative towards upcoming macro trends within the beauty industry, but it’s USP will attend to consumers’ needs that are not currently being fulfilled. The products convey the brands essence, in regards to the features and benefits and current ‘my fact my rules’ campaign. Furthermore, the product can potentially assist Sleek MakeUP’s vision to become a £100 million brand by 2020 by broadening the brands appeal to current, new and lapsed users.

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