How does the client convey a sense of togetherness

Assignment Help Marketing Management

Reference no: EM133568512

- READY To BEAUTY - MARKET OPPPRTUNITY

Multicultural, specifically Black/African American, as a new asset class classification presents a very attractive business opportunity.

Multicultural Beauty, specifically Black/African American is a growing segment of the overall beauty industry.

And McKinsey & Company reports that Black/African American beauty brands account for just 2.5% of revenue in the industry, but the Black consumers themselves comprise more than 11% of beauty's total spending.

Black/African American consumers are three times more likely to be dissatisfied than General Market consumers with their options for hair care, skin care, and makeup.

Black/African beauty often commands higher price points and undoubtedly has a highly engaged, needs driven consumer base that spends 80% more on cosmetics and nearly 2x as much on skincare products.

The Black/African American sense of "community" is bolstered by the historical & cultural African Proverb of "it takes a village..." calling for the entire population to provide for and interact positively in efforts to experience a prosperous & healthy society.

Offering Multicultural, specifically Black/African American beauty will allow LB Equity to round out its existing portfolio and insulate itself as direct PE competitors have been expanding into multicultural and multicultural PE's themselves are aggressively pursuing General Market consumer segments too.

READY to BEAUTY - THE BASIC BUSINESS IDEA

In Q1 2024, a new multicultural money raising platform will be launched introducing consumers to primarily early-stage investment opportunities with a superior ''proof of concept."

Marketing support will focus on generating awareness and early adoption among their current consumer base. Central to the plan will be educating & developing confidence in and around financial literacy (the core requirement for establishing the fundamentals of fiscal freedom), while reinforcing our position promise of empowering individuals' respective journey towards respective success.

Tapping into a Black/African American spirit of collectivism by way of community springs the notion that huge things can be accomplished when individuals ban together.

- Ethiopian Proverb, "When Spiders Unite, They Can Tie Down a Lion...."

READY to BEAUTY will be designed to meet current Black/African American Brands and Consumer needs & wants and is the first step in achieving our long-term vision of becoming THE READY COMPANY serving the total BIPOC universe for beauty & lifestyle.

QUESTIONS:

How does the client convey a sense of "togetherness"? As in learning together, building together, growing together, investing together, creating together...relating to financial freedom? The client wants their customers to feel that they are not alone and that they identify with their financial pain points, needs & wants. And TOGETHER, they can partner to build wealth and attain legacy. (Be mindful of the above African proverbs.)

Post TWO examples of entities conveying a "togetherness" communication strategy.

Reference no: EM133568512

Questions Cloud

Role of a marketing manager at a company : Assume the role of a marketing manager at a company (such as your current employer) who is reviewing an article for marketing-analysis purposes.

Describe the strategies to improve their servicescape : Explain the reason(s) for the need to improve their servicescape and describe the strategies to improve their servicescape.

Does myer adopt a localised-standardised marketing strategy : Using market segmentation and targeting, does Myer adopt a localised or standardised marketing strategy?

What is the foundation center and federal register : What is the Foundation Center and Federal Register and where can they be found? How can we access the data from them?

How does the client convey a sense of togetherness : How does the client convey a sense of "togetherness"? As in learning together, building together, growing together.

Analyze the success or failure of her past digital marketing : How would you analyze what's working and what's not? How would you analyze the success or failure of her past digital marketing tactics?

Develop a comprehensive re-branding strategy : Develop a comprehensive re-branding strategy for an existing brand of your choice, integrating the Customer-Based Brand Equity (CBBE) model.

Discuss the lifetime value of customers : Consider the lifetime value of customers (CLV). Choose a business and show how you would go about developing a quantitative formulation that captures concept.

Analysis of macro business environment issues : Analysis of the PEST/macro business environment issues you have identified and how these issues, are changing the business (or industry) environment Therefore.

User Account

All Pages