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Lab Series

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by

Penelope P

on 21 August 2014

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Transcript of Lab Series

Lab Series
Lab Series
Competitors
Differentiating Factors
Lab series Vs Competitors
Brand recall for Lab Series is low
SKII!
State a PREMIUM skincare brand
As SKII heavily advertises their skincare line (Men)
Differentiating Factors
Lab series Vs Competitors
Males perceived Lab Series to be lower quality in comparison to SKII and Kiehls
WHY?
As Lab Series is less expensive compared to competitors.
Thus, many consumers perceive Lab Series products to be of lower quality then its competitors
as they equate price with quality.
This may be due to the lack of communication and engagement with consumers
GET
KEEP

GROW

FINDINGS
GET
Lack of awareness
Majority of the males in the men skincare market are

Potential New Users
This is due to lack of advertising by premium brands

Males are more receptive to skincare ads on television, social media and internet

Mass-marketed brands made full use of advertising, able to tap into males' cognitive memory
whereas, premium brands advertise on magazines and newspaper more
Males view on premium skincare
33.1%
stated that premium brands are a little more effective than mass-distributed brands
Males' attitude and engagement with skincare
GET
Males are categorized as low-engagement consumers.
Skincare is not a priority in their lives
Many rely on brands they are familiar with and they use it over a long period of time
Lack of involvement to search about new products and benefits
In regards to skincare, males also adopt a neutral stance and their needs lie with the product ability to carry out
FUNCTIONAL PURPOSES

E.g. Cleansing and Moisturizing
Males have practical attitude towards the skincare products they use

They do not place much importance and significance on the branding

They would only buy specialized skincare products if it was able to effectively serve a functional purpose
Recommendations
Aim to get new potential users and increase awareness and knowledge about Lab Series
Collaborate with universities and conduct annual Men Skincare Workshop/ Campus Men Hunt
Exclusive Student Discounts and Deals
Placement of Lab Series Vending Machine in Campus
WHY STUDENTS?
Able to address the mass and correct the misconceptions about skincare.
Moreover, they are entering the working force, they may potentially be able to afford Lab Series in the future.
Therefore, able to get them exposed to premium skincare from the beginning.
KEEP
Identifying Newly Converted Users
Increase number of newly converted premium skincare users
They may receive samples or from external source
They can identify the difference between premium and mass-marketed brands

However,
We found out that the newly converted users and existing customers of Lab Series does not translate them to being regular or loyal users
Therefore, respondents (newly converted) have not created a bond with the brand Lab Series whereby they have not exhibit consistent purchasing behavior and loyalty with Lab Series
KEEP
Motivation and Needs when purchasing skincare brands
Most males tend to to fulfill their basic safety and physiological needs first before their self-esteem needs.
Meaning, they try to solve their skin problems for safety needs first before try to impress and attract
KEEP
Males noticed the major visible issues such as oily skin, blemishes etc but they do not recognize the minor skin issues


Males Unmet Needs
It is important to educate these males that these minor problems may potentially accumulate to become a big problem
How do Males purchase Skincare products
KEEP
Males tend to visit the physical store to buy their skincare products
But that usually happens in drugstores or departmental stores
We can infer that males purchase their skincare products when they have other primary reasons to purchase
GROW

Differentiate users with potential needs
Males seek for premium products for more specialized needs
GROW
Interact with customers through major influencers
Friends
Classmates
Colleagues
In comparison to celebrities, consumers trust their friends, colleagues and classmates more.
Trust is present as these social groups are frequently interacted by the males themselves.
Consumer seek advices from them as they perceive their social circle to be more credible than celebrities
WHY?
However, Males are more familiar with
mass-marketed brands
HOW SATISFIED ARE THEY WITH THEIR CURRENT SKINCARE BRANDS
KEEP

NEW USERS
KEEP
Males' unmet needs
Males buy premium skincare for?
GROW
Super Growth Customers
Lab Series have a group of super growth customers but the group is small
New users are generally satisfied
What do male really want?
People usually show interest in discounts/deals
RECOMMENDATIONS
Personalized Men’s Skincare Package Delivery Service


Annual Complimentary Skin Check-up by Lab Series
GROW
High percentage of regular and loyal customers do routine decision making. They are already familiar of the type of products they need.
RECOMMENDATIONS
Complimentary skin checkup for friends

Annual Membership Party
( Customers can bring 2 other friends, free screening of World Cup/soccer matches and drinks provided)
Cross-sell products
Determining buying tendencies
Consumers do not purchase skincare products as they are unaware of its importance.
Grow
Men skin is thicker than women so only premium brands contain ingredients that can be effective to men.

Men skin ages in giant steps and premium skincare brands can slow down the effects of aging.

Premium skincare brands are more effective than mass distributed brands because chemicals used are not harmful to skin.
Existing customers are entitled to bring one friend for their annual checkup
Full transcript