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"Its not all about the smell..."
Transcript of "Its not all about the smell..."
-Fragrance company 'Universal Scentsations'
-Became the Australian agent for American fragrance producers
-Used promotion (B2C) to sell 50,000 fragrances in 12 months = $2,000,000
-No tariffs, taxes or restrictions
- GFC, downturn in non-endorsed products
-Social trend's eg/. David Beckham
- Innovation in marketing (scented magazines)
Why did it fail?
-Barriers to entry
-Lack of financial backing
-Celebrities were outdated (Perry Ellis)
-No clear marketing strategy direction
-Competitor market share
By Daniel Rivero & Jordan Arendale
Does the user influence purchase decision?
Cosmax, Estee Lauder, Revlon, Clarins, Chanel, Calvin Klein
Major trends in the market?
Empirical research targeted wrong demographic
Was it a good strategy for 'Universal Scentsations' to sell lesser known fragrances?
2. Did Universal Scensations spend too much money on developing its marketing strategy?
3. Could 'Universal Scentsations' have sold its products to larger, more established fragrance companies?
4. Why couldn't Universal Scentsations get financial support from a bank to continue its operation?
Strengths & Weaknesses
- Should have...
selected a more specific target market
secured more financial backing
selected a more current endorser
- Could have...
Sold to a larger corporation