M.A.C. The top 10 competitors average 4,408. To determine if our proposed IMC ideas are supported or negated among the target market. The brand is sought-after also by many celebrities, fashion models, and photographers because of its delicate texture, huge choice of colors, and durability. They aid an organization in making fundamental choices and communicating them for purposes of aligning resources appropriately. Strategies that are effective have an industry and a company point of view. The steps are such as, the developing or reviewing of the company mission and vision statement, analyzing the operation and business analysis (SWOT analysis), developing and selecting strategic options, establishing of strategic objectives, examining a company strategy execution plan, establishing resource allocation and execution of review. The purpose of this essay is to present M.A.C’s branding strategies and it differentiation to the competitors. We use cookies to give you the best experience possible. 2012, Company History MAC Cosmetics. Brand Overview Price, Market segmentation, Make-up artist 1340  Words | ============ To learn about womens makeup look preferences, purchase intent, and behavior when buying. If MAC forces change on its stakeholders, problems will definitely arise. It was a company created in 1984, in Toronto Canada by Frank Toskan and Frank Angelo. Objectives for using research to revamp MAC cosmetics. Not on a button on … It deals with the strategy expected performance results. MAC also referred to as Make-up-Art Cosmetics, is a highly distinct corporation. 6  Pages. Once MAC has analyzed its quantifiable and specific outcomes of the above, it should be ready to use the approach of the balanced scorecard in order to improve the deficient areas. Cookies Policy, This case study on MAC Cosmetic Strategic Plan was written and submitted by your fellow student. With a blend of design and quality, MAC cosmetics have been able to create a solid image that has the power to differentiate itself from its competitors. Your privacy is extremely important to us. Web. The specific objectives of this research were: To revamp M.A.C. I am going to describe what type of business it is, what purposes they have and what the form of ownership is. Cosmetics and reposition them. The business strategies and founding principles of MAC are extremely simple yet very effective in terms of contributing to the success of the company. However, at the moment it has gained momentum and it is now a multimillion-dollar enterprise. The direction being pursued by the Company is quite promising to a future increase in both of its finances and brand name. around the world, by staying ahead of fashion trends and to consistently deliver trusted creativity. Similarly, it is mandatory for them to confirm if a product is suitable for their skin. Machalack, J. Estee Lauder now owns the company, as of 1998. A SWOT analysis of the company helps in bringing out the strengths, weaknesses, opportunities and threats to the company as illustrated below. Estee Lauder now owns the company, as of 1998. Mac does not utilize business schemes that are fancy. In the initial stages, the company struggled to establish itself. The mission statement of MAC Cosmetics is “all races, all sexes, all ages”, it is meant to embrace all consumers including professional make-up artists, to consumers. Retrieved from https://ivypanda.com/essays/mac-cosmetic-strategic-plan-case-study/. Strategic plan management can only be viewed as complete when the discussed components have been clearly defined in broad terms. Make-Up Art Cosmetic has more strength compared to weakness. Mac Cosmetics Imc Objectives. Web. It sells brand, to some women. Vision: To be the leading makeup profess… The “LOVE YOUR LIPS” MAC campaign will greatly help in promoting the company lipstick sales. The database is updated daily, so anyone can easily find a relevant essay example. Need a custom Case Study sample written from scratch by MAC is responsible for one hundred and sixty million of the revenue generated by Estee Lauder. Using this strategy, the company targeted the ¡°hip¡± celebrities and other cosmetic influencers to gain recognition and market share in the younger consumer market. Cosmetics can further increase brand awareness and engagement among its already devoted followers. Harvard Business Press, Harvard. They recently worked with Gabriel Zamora and sent him many different products to feature and share in his posts. Lipstick has often been viewed as a form of refinement. He only plays a role when it is vital for a specific number of individuals need to work together. Copyright © 2021 - IvyPanda is a trading name of Edustream Re: question about mac's dress code In my region we can wear flats (thank god, I think saying no to that is a bit extreme!) MAC Cosmetics was revealed as the runaway leader, dominating the colour cosmetics sector due to the seamless integration between its social channels and brand website. Estee Lauders are expanding their niche in countries that are foreign. For purposes of reviewing organizational structure and management strategy potential options and the environment, MAC Company must make sure that the perfect strategy considers clearly the size and age of the organization, environment and technical system and the governing framework. "MAC Cosmetic Strategic Plan." if not, their reconciliations and necessary redefinition. MAC pressure to come up with products that meets the demands of the customer is so high hence the management strategy proposed should ensure the problems and bottlenecks are dealt with appropriately rather than basing on future conditions analysis. Today, the cosmetic industry is a very innovative and competitive industry where product innovation and brand image is the key to success. Web. Just like L’Oreal, Revlon products are sold all over the globe and marketed under various brand names. Estee Lauder in 1998 bought MAC and helped the company grow globally. Sephora is … Benchmarking and reviewing of the actual and desired strategy implementation status, Its products are made for all races, sexes and ages, Named number two as Forbs” America’s most Admired Company”, Its brand name is already known in the Market, The prices are high than some individuals can afford, Its only the professionals that can access their PRO colors, Ability to expand internationally- Brazil and India. The consumers have become more inquisitive about the benefits of MAC personal care products. cosmetics, one of everyone’s favorite makeup brands, is the same age as many of our dear readers. With a blend of design and quality, MAC Cosmetics has been able to create a solid image that has the power to differentiate itself from its competitors. To be precise, these needs an assessment of the extent to which the organization strategic option fits with the crucial drivers and the environment expected changes, strategic capabilities exploitation and its appropriateness in stakeholders content of influence and expectations. MAC (Makeup Art Cosmetics) is originally a Canadian company that have been operating for more than 20 years and it has already penetrate to many countries all around the world, in the North and South America at most. Furthermore, the business public image is greatly supported as a result of distinct environments. Premium Estimate of the lifespan of the project, sustainability and its exit strategy: This addresses issues such as how long the stand strategy will be implemented, the time it will take for the strategy to be modified and why if it is only feasible to modify it and how the strategy will ensure corporate objective achievements sustainability. (2019, August 14). The second marketing communications objective is to build buzz for MAC Cosmetics among women aged 25 to 50 who are currently unfamiliar with the brand. It uses social media marketing in order to accomplish marketing communication and branding goals.M.A.C covers activities involving social sharing of content, videos and images for marketing purposes. Most women believe that by the power of makeup &, innovation and brand image is the key to success. Web. The MAC Cosmetics has been able to supply consumers with awareness of natural and cruelty free products. It’s makeup, not rocket science. To determine if our proposed IMC ideas are supported or negated among the target market. It is premiere, StudyMode - Premium and Free Essays, Term Papers & Book Notes. Each channel has its own unique environment and voice, its business’ core identity stays consistent.Its objectives are: 1. Standardization of work process: It comprises the direct programming of work content, putting in place the procedures that need to be followed. STEP 3: Doing The Case Analysis Of Mac Cosmetics The Marketing Mix: What’s your deadline? – I need … Premium Web. What the Makeup Artist Resume Objectives Should Tell Employers. Thomas, L. 1992, Quick, successful team building. With this in mind, MAC has been able to expand both regionally and financially (Joines, 2009, p.10). Sephora is one of MAC Cosmetics's top competitors. In terms of relevance, identifying a growth strategy comes fast. For full functionality of this site it is necessary to enable JavaScript. August 14, 2019. https://ivypanda.com/essays/mac-cosmetic-strategic-plan-case-study/. Anonymous 2012, Fragrance Wholesome, Some history and background on MAC. MAC Cosmetics is a manufacturer of cosmetics. With the objective of creating confidence in individual whom use this products. The business strategic plan of MAC should boost online buying and selling for purposes of capturing market outside the United States of America. IvyPanda, 14 Aug. 2019, ivypanda.com/essays/mac-cosmetic-strategic-plan-case-study/. It contains thousands of paper examples on a wide variety of topics, all donated by helpful students. However, MAC should continue promoting celebrity posters on their standing stores that are free for purposes of keeping their personal experience celebrated by its consumers (Joines, 2009, P.12). MAC is well-known for taking a bold approach to cosmetics, celebrating pop culture and individuality, and promoting makeup as a form of self-expression. The principal components of any strategic plan consist of discussions or analyses of the below named resource implication (Hankin, 2005, p.111-113). IvyPanda. C is a proud COMMUNITY of professional makeup artists working together to bring our vision to life. we will assume that you agree to our Even though MAC has succeeded tremendously by their word-of –mouth strategy, their online environment boosting will help in improving their sales. They made their products for professional make up artists who would apply them on photo shoot models or studio actors and actresses. Cosmetics and reposition them. Capacity requirements and Human capital: The human skills and capacity needed for strategy implementation, potential and current sources of these resources. This is because; it is the only avenue that can be relied upon under circumstances that are extremely difficult. In addition to that, it offers a variety of products to various countries in order to fulfill the needs of all women. Financial requirements: The required funding to implement the management strategy proposed, potential and current sources for the funds, funding gaps and the most crucial resource. It offers something that is unique and cannot be occupied because it keeps on evolving with time. With a product line that is celebrity endorsed and a glamorous image, MAC cosmetics takes the lead in the beauty industry (Machalack, 2012, p.1). MAC Cosmetics is in the forefront supporting the fight against AIDS with the use of” Viva Glam,” the company’s popular lipstick (Anonymous. The structure minimizes conflict and those in need of referrals that are hierarchical can be resolved easily. Given the fact that MAC is recognized widely by word-of-mouth, channeling more concentration to online will be of great advantage for the company promotional aspects. … Unlike the standardization of outputs, these skills do not emanate from the analyst. The most important thing is to assess the external context of the company, clustering and prioritizing threats and opportunities, developing strategic options, rating the options in terms of their significance and implementing them. Web. MAC Cosmetics wanted to reach more online makeup shoppers, drive awareness for the launch of the MAC Selena La Reina collection, and boost sales. maccosmetics.com is ranked #17 in the Lifestyle/Beauty and Cosmetics category and #9046 Globally. Unfortunately, your browser is too old to work on this site. Ethics and social responsibility, 2012). Nevertheless, it should be viewed as a Make-up Art Cosmetic investment (Joines, 2009, p.11). Accessing of company risk is through the performing of financial ratios, sensitivity analysis reactions and shareholders’ value analysis. You are free to use in order to make it strategic planning system utilized align. 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