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Product quality is a key determinant of demand in the industry. On the flipside, this implies that when consumers prefer using a competitor’s brand, then chances are that they will not switch to MAC’s innovations even if they are worth a try (Ahearne, Bhattacharya & Gruen 247). In fact, the firm has a cult like following of shoppers who buy all their weekly collections consistently.
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Many of them exclusively focus on MAC even when they have no reason for doing so. In fact, several blogs and websites exist for women who love MAC products. Buyers readily identify with MAC products and have maintained a strong relationship with the brand. Some individuals may buy a certain brad of cosmetics merely because of the name.
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Consumer analysisīrand loyalty is one of the principal factors that drive demand for MAC products or cosmetics’ in general. This means that businesses such as MAC can negotiate the price of their products. Cosmetics manufacturers rely on chemicals and products that can be found easily. Suppliers do not have a lot of clout in cosmetics production as they are many.
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Further, some buyers want to use few products on their skin this has prompted cosmetics suppliers to create multifunctional products. For instance, men no longer think that the application of makeup is unconventional or peculiar consequently, this has led to the development of many male-oriented products.Īdditionally, a number of consumers want to use natural products thus propelling cosmetics manufacturers to avoid synthetic products to meet their needs. The high number of small and medium-sized cosmetics companies causes larger players to up their stakes and continue innovating (Etsee Lauder 18).Ĭonsumers are highly influential in this industry as their needs often drive product development or research trends. For instance, the natural-product boom started with one organization and spread to other organizations that had to keep up in order to stay ahead. There is a high degree of rivalry in cosmetics production as evidenced through numerous imitation products. The need for frequent product endorsements may also hamper some individuals from doing business in the industry. The cosmetics industry is highly competitive therefore, new entrants must be willing to create new product lines in order to stay ahead. A lot of government regulations exist for imported cosmetic products, so smaller firms that plan on going international may experience a lot of difficulties in penetrating new markets. In fact, distribution is one of the biggest barriers to enter in the industry. The dominant players control a large market share because they have well established distribution channels. Several of them prefer to create new business lines and streamline their production processes in order to stay ahead. Acquisition and buy outs are commonplace in this industry. Most of them manufacture, distribute and sell their products independently. Vertically integrated, multinational organizations currently dominate the US cosmetics industry.
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The firm has a niche among professional make-up artists, even though ordinary consumers are fond of their products, as well (Byron B3). Now one can find MAC stores in various parts of the world. Estee continued with the original product lines but kept diversifying its range.
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In 1998, the latter firm became the full owner of MAC after both founding entrepreneurs left the business. In 1994, the company sold a substantial portion of its products to Estee Lauder. Currently, one can find their products in Macy’s or Nordstrom. However, the organization’s main distribution outlet was its retail stores. MAC collaborated with various department stores in Canada and the US to distribute their products. The company has expanded in a number of other influential countries, including China. MAC also grew its market by establishing its first European store in Paris, five years later. In the subsequent decade, 1991, the company formally entered the US market by opening its first New York store. Because of this, MAC enjoyed more celebrity endorsements artists, such as Pamela Anderson and Debbie Harry, promoted their products in the late 1980s. Many consumers appreciated the longevity and quality of their products. The two founders used and expanded their business networks to grow their product lines. Through celebrity endorsements, the line grew rapidly and became a product for the high fashion industry.
Therefore, the initial client base consisted of members from the entertainment industry. They made their products for professional make up artists who would apply them on photo shoot models or studio actors and actresses. Two cosmetic industry players Frank Toskan, a makeup artist and Frank Angelo, a professional photographer started MAC in 1984.
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