Contents
TOC \o "1-3" \h \z \u HYPERLINK \l "_Toc337979936" Executive Summary PAGEREF _Toc337979936 \h 3
HYPERLINK \l "_Toc337979937" Introduction PAGEREF _Toc337979937 \h 4
HYPERLINK \l "_Toc337979938" Target Company and Industry PAGEREF _Toc337979938 \h 4
HYPERLINK \l "_Toc337979939" Reason for Industry Focus PAGEREF _Toc337979939 \h 5
HYPERLINK \l "_Toc337979940" Perfume and Fragrance Industry and Business Research PAGEREF _Toc337979940 \h 6
HYPERLINK \l "_Toc337979941" Consumer and B2B Trends in the Industry PAGEREF _Toc337979941 \h 8
HYPERLINK \l "_Toc337979942" Industry Trade and Consumer Media PAGEREF _Toc337979942 \h 9
HYPERLINK \l "_Toc337979943" Summary PAGEREF _Toc337979943 \h 10
HYPERLINK \l "_Toc337979944" References PAGEREF _Toc337979944 \h 11
Executive Summary
An integrated marketing strategy for international companies is necessary given the changing global environment. Perfume and fragrance companies operating in the global market are facing challenges due to changes in consumer trends, competition from new entrants, technology developments, economic and political issues. The marketing strategy discussed, uses an integrative approach that is technology, competitor, consumer and market driven. Consumer trends are dictating that Chanel creates innovative products that will compete with emerging celebrity perfumes. At the same time, take advantage in the increase in consumer purchasing power. The strategy also adopts market trends where perfume companies expand their markets using multimedia, social media and internationalization via exporting. Moreover, my approach uses an integrated strategy based on competitor dynamics like the rise of high-end perfumes and different fragrance packing.
Introduction
Marketing strategies have evolved to accommodate changes to the business environment due to factors like competition, consumer trends, technological changes, political, and economic issues among others. This trend is driving marketing managers to adopt opportunity-based business strategies, which transform with every situation the business faces. A market that is seeing these rapid changes is the beauty, cosmetic and perfume market. I will therefore focus on the beauty and perfume industry, especially Chanel Company and brands. The analysis focuses on the case study since it is an established, international and successful fashion, beauty and perfume company.
Target Company and Industry
The changing trends in customer spending dictate the perfume and fragrance industry. Most people consider perfumes a discretionary products, such that as the spending power declines so does the demand for these products (Research and Markets, 2012). The economic recession, decline in income and rise of unemployment, reduced the disposable income of many consumers, there by many dropped discretionary products like perfumes (Research and Markets, 2012). The effects of markets on the performance of products and services are a major driver for the need of marketing strategies that are sustainable. Such market forces are the reason behind the need for integrative and dynamic marketing strategies, and are the focus for my interest in international marketing strategies. The need for dynamic and integrative international marketing strategies arises from the fact that the business strategies have continually evolved since their inception in the 1960s, due to changes in the business environment. Gone …