Marketing Strategy for La Mer in Singapore

Running Head: MARKETING STRATEGY
MARKETING STRATEGY (ASSESSMENT 1)
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1MARKETING STRATEGY
Executive summary
The report present the growth and trend of cosmetic industry in the Singapore market. From
the study, it has been found that the major trend that will drive drive the growth in cosmetics
products as the consumer are highly enjoying the increased disposable income level and the
growing affluence of the normal population. It has been found that Singapore has a highly
competitive market, which has been assumed to grow. Based on these affluent and resilient
economic cycles of the industry the report focus on the marketing strategy that is needed for
expanding the business in the country. Moreover, the study provides an insights in the
business environment that be threatening for the industries and the political and legal factors
that may influence the activities of the industry.

2MARKETING STRATEGY
Table of Contents
Introduction................................................................................................................................4
Competitor analysis....................................................................................................................4
Competitor strategy pursuit....................................................................................................5
Dominant economic features......................................................................................................6
External environmental analysis................................................................................................8
PESTLE analysis....................................................................................................................8
Porter five forces....................................................................................................................9
Segmentation........................................................................................................................10
Consumer trends...................................................................................................................11
Key success factors..................................................................................................................11
Reference list............................................................................................................................12
Appendix..................................................................................................................................15
Appendix 1: Cosmetic trade flows.......................................................................................15

3MARKETING STRATEGY
Introduction
The overall market is highly characterised by the dramatic growth of new brands, new
location for the markets and new sub classification all accelerated by global implementation
of digital technologies. However, the foundation of success have changed for the leading
brand organisation the challenge has turned in to one of the most influencing and innovative
industry. In this context, marketing is most essential element that would help the company to
promote and sale their products in the global market. Therefore, in order to establish
successful strategy for marketing, it is necessary to understand the market in which the
company is competing. Based on this the strategy of marketing the study presents marketing
opportunities and strategies. Moreover, the study illustrates the strategies by highlighting the
dominating economic factors influencing the market, the external analysis of the environment
and major success factors for the La Mer Company, beauty and skin care industry in
Singapore as, in relation to their competitors.
Competitor analysis
Cosmetic and beauty skin care are one of the most competitive market in Singapore.
Along with the emergence of technology, researching on new cosmetic products and
combination to develop products has become comparatively easier. As a result of which, skin
care products are being developed as faster pace (Digitaljournal.com. 2018). However,
Singapore is increasingly growing as one of the most favourite destination amongst the south
East Asian countries as international cosmetic platters with high expenditure on cosmetic
products. It is due to the increasing concerns for beauty amongst both men and women that is
further accelerating growth in the Singapore cosmetics industry (Musa 2014). Therefore,
emergence of the new cosmetic brands collaborating with the newly launched products is
creating an exceptional competition for the cosmetic sector within the industry. Moreover,
some of the leading international cosmetic producer have developed their market in