Anya Verdon

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Purpose

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Purpose is essential to daily life as it is the reason why people  are doing something. Purpose is passion ,  meaning and what leads people into their careers, what leads brands in decisions they make and what leads consumers to buying products .Brand philosophy is the brand’s mission, vision and value proposition . Their mission is what goals the brand has like reducing carbon emissions or hiring more diverse candidates . While as values and vision are more like sustainability and diversity . These are important for a brand to have as consumers care about what they are buying , where their money is going(Varley et al., 2019). Some consumers care more about ideals and are supporting politically correct brands, while other consumers care less and are more concerned with their budget . Brand philosophy is also important for the employees, people don’t want to work for a brand that does not support their own values and beliefs. (Varley et al., 2019) It’s also important for the public, often when big events happen like wars, political movements, or economic downturn the public looks at what brands are doing(Varley et al., 2019). The public looks at what brand supports which side for wars, which side on political movements and how pricing is affected for economic downturn. Some examples of  brands adhering to their brand philosophy are Asos and Nudie Jeans. Asos, their brand philosophy is authenticity, creativity and bravery , but also for 20-somethings who enjoy fashion. Asos also is focused on sustainability and diversity  this a lines with their market which are gen Z  (ASOS, 2021).Nudie jeans focus is on sustainability, their brand sells jeans and will take them back and fix them to prolong the life of their jeans (www.nudiejeans.com, 2023). Both of these brand’s ideals highlight what gen Z wants and looks for in a brand. However, communicating what your brand’s purpose is , is important to reaching gen z consumers. This can be done by meeting gen Z where they are for example on social media as gen z spends lots of time on social media (McKinsey, 2023).Gen Zers typically spend time on the companies site looking at reviews, influencers, social media feeds and news before making purchases(McKinsey, 2023). Meaning that if a brand’s purpose matches what gen Z is looking for and has the information available to them , gen z will find it as they tend to do research before purchasing. 

Bibliography :

ASOS (2021). Our purpose and values. [online] ASOS plc. Available at: https://www.asosplc.com/this-is-asos/our-purpose-and-values/.(date accesses 29 october 2023)

McKinsey (2023). What is Gen Z? | McKinsey. [online] www.mckinsey.com. Available at: https://www.mckinsey.com/featured-insights/mckinsey-explainers/what-is-gen-z.( date accessed 29 October 2023)

Varley, R., Roncha, A., Natascha Radclyffe-Thomas and Gee, L. (2019). Fashion Management A Strategic Approach. London Macmillan Education Uk.
www.nudiejeans.com. (2023.). Nudie Jeans Sustainability Report 2022 – Nudie Jeans® | 100% Organic Denim Collection | Official Site. [online] Available at: https://www.nudiejeans.com/blog/nudie-jeans-sustainability-report-2022 (date accessed 29 October 2023)

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Profit

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 Profit was on the table this week, with money and economy being the core of society, profitability of a company is essential. Marketing and brand management were heavily discussed in addition, how to mix art and creativity with business and profitability.  In terms of the cosmetic industry, it brought in $100.5 billion worldwide for 2022(Killip, 2022). The market is also predicted to grow 6.85% per year from 2022-2026 (Killip, 2022).The various sectors of the cosmetic industry are Skincare/suncare products ,hair care,deodorants/fragrances, and makeup/color cosmetics(Rajput, 2021). In terms of their performance the biggest sector is skincare/suncare products (Rajput, 2021).Skincare reigns above the other sectors due personalized skincare trends, a wide variety of products, and active ingredients that have healed many people’s skin(Grand View Research, 2019). However, the haircare branch of cosmetics is estimated to grow, due to hair color change trending and hair and scalp issues rising (Grand View Research, 2019).Due to the giant market that is the cosmetic industry, many brands struggle with competition , in addition to uncertain economic times, focusing on strategy, content building, and understanding consumer behavior are recommended (Clausen, 2020). Other strategies like personalization , focus on trends , and localized production are also encouraged (Barnes , 2022).Function of Beauty is an example of a focus on personalization . Their brand is made to order hair care, based on the customer’s hair type and hair concerns(Function of Beauty, 2019).Another example is the brand Shiseido Japan, their focus was on localized production.This was accomplished through going online and opening up a flagship store. (Barnes , 2022).While making money is important to a brand, creativity is also essential. Creative directors bridge this gap, they manage the vision for the brand,align it to trends, and the current market (Mitterfellner, 2023). This job is important as keeping up with trends while still maintaining a brand image is key to success.Creative directors usually do multiple jobs in one, they are the brand ambassadors, the brand’s visionary and manager of multiple teams (Mitterfellner, 2023). In the world of fashion,Karl Lagerfield is a well known Creative dictator, he worked with Chanel and Fendi. Making their brands what they are today, from designing ionic logos like the “FF” for Fendi, or brand ambassador for channel( Mitterfellner, 2023).

Bibliography 

Barnes , S. (2022). How Can Beauty Brands Prepare For An Economic Downturn? [online] Fashion Industry Data and a Point-of-View. Available at: https://stylesage.co/blog/beauty-brands-economic-downturn/[Accessed 21 Oct. 2023].

Clausen, E. (2020). Council Post: Marketing Rules To Follow During Uncertain Economic Times. [online] Forbes. Available at: https://www.forbes.com/sites/forbesagencycouncil/2020/04/03/marketing-rules-to-follow-during-uncertain-economic-times/ [Accessed 19 Oct. 2023].

Function of Beauty (2019). Hair Care | Individually Filled | Function of Beauty. [online] Function of Beauty. Available at: https://www.functionofbeauty.com/(accessed October 21 2023)

Grand View Research (2019). Cosmetics Market Size & Share | Global Industry Analysis Report, 2025. [online] Grandviewresearch.com. Available at: https://www.grandviewresearch.com/industry-analysis/cosmetics-market.(accessed 19 October 2023)

Killip, S. (2022). Beauty & Cosmetics Market Size: Growth and Industry Trends| Attest Blog. [online] Attest. Available at: https://www.askattest.com/blog/articles/beauty-cosmetics-market-size#:~:text=In%202022%2C%20worldwide%20revenue%20from. (accessed 16 October 2023)

Mitterfellner, O. (2023). Luxury Fashion Brand Management. Taylor & Francis.

Rajput, N. (2021). Cosmetics Market. [online] Allied Market Research. Available at: https://www.alliedmarketresearch.com/cosmetics-market (accessed 19 October 2023)

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People

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This week, People Week, focuses on people as it relates to consumers, factory workers, and citizens.  Thought provoking questions arose such as “Who makes the products you use?” and “What are the working conditions ?”  or “ What do consumers want and value ?” In terms of the younger generations like Gen Z , their habits of consumerism vary from older generations. For example, as consumers they are focused online, before purchasing Gen Z typically looks at reviews and trends (McKinsey, 2023).Gen Z also doesn’t buy physical copies of products, instead opting for subscription services (McKinsey, 2023). Gen Z in addition holds brands to high standards of sustainability, diversity and inclusion (McKinsey, 2023). Appealing to Gen Z and marketing to them can be done through matching these ideals. Such as brands having an online following or having brand deals with popular influencers. Brands should also produce subscriptions, for example a monthly beauty box for cosmetics brands. A focus on sustainability, diversity,and inclusion should be at the forefront of a brand’s marketing schemes. An example of a company that responds to diversity and inclusion well is Fenty Beauty. Their foundation line dropped with 50 shades,including 50 matching conclears and blushes,bronzers, highlighters that also differ in shade range and color tone.Due to the lack of diversity in the beauty industry, with foundation ranges consistently leaving out darker skin tones, Fenty Beauty’s existence has been a response to this. As such this has had a big impact in the industry standards, leading to more brands expanding their shade ranges and new standards to live up to(Little, 2020). In terms of people skills, for a cosmetic brand to be successful,adaptability,influence, and collaboration are all key players. Adaptability is important becuase trends and the market are constantly changing so keeping up with these are key to staying relevant as a brand. Influences due to the appeal to different types of people, like Fenty Beauty in their inclusivity. Lastly, collaboration, for multiple brands to collaborate or even online influencers involvement will have a positive outcome due to marketing to younger generations. An example of brands employing these key people skills are Colourpop with their collaboration with Sailor Moon. With Sailor Moon being a popular anime from the 90’s-00’s, adaptability, influence and collaboration have all shown through.  Due to the trend of anime, collaboration with Sailor Moon, and influence with multiple younger generation’s nostalgia with Sailor Moon. 

Bibliography: 

McKinsey (2023). What is Gen Z? | McKinsey. [online] www.mckinsey.com. Available at: https://www.mckinsey.com/featured-insights/mckinsey-explainers/what-is-gen-z.( date accessed 10 October 2023)

Little, C.D. (2020). Makeup in the World of Beauty Vlogging: Community, Commerce, and Culture. [online] Google Books. Rowman & Littlefield. Available at: https://books.google.co.uk/books?hl=en&lr=&id=v3n_DwAAQBAJ&oi=fnd&pg=PA37&dq=fenty+beauty+diversity&ots=kE8C_8I0w3&sig=HY8YFRaFM4i5y4Ps34jAJdLx4v8&redir_esc=y#v=onepage&q&f=false[Accessed 13 Oct. 2023].

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Planet Week

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 This week was Planet week, discussions arose around problems facing our planet. Such as pollution, climate change, and carbon emissions. Solutions were given like a circular economy and adhering to the UN’s SDG (Sustainable Development Goals) plan. The UN SDG plan is composed of 17 goals for global sustainability in hopes to accomplish them by 2030 (UNDP, 2023). Applying these goals in action in all aspects of society is essential to slowing down climate change. For example, in the cosmetic industry responsible consumption and production is one goal that can be applied.This looks like making containers that can be recycled and using refillable containers. The Body Shop is a good example of this, with in store recycling bins and refillable stations (www.thebodyshop.com, 2023)  It means having rags that can be used as makeup wipes instead of the disposable ones. An excellent example of this is the Original Makeup Eraser, which uses only water and can be rewashed (MakeUp Eraser, 2023) Sourcing your ingredients used in the cosmetics ethically and without damaging the ecosystem is another way to accomplish responsible production.Lush  does a good job of this, their ingredients are sourced through local farmers and fair trade. (We are Lush, 2023) Cosmetic production can also be a way to reduce carbon emissions, for example GUCCI’s perfume, The Alchemist Garden Where My Heart Beats, uses alcohol that has been made from carbon capture (Gucci.com, 2023). Applying all these values of sustainability to cosmetics means understanding how to make the cosmetics industry as sustainable as possible, while simultaneously understanding that there is a privilege and expense to being sustainable.Affordability of many sustainable products is low, not to mention costs to manufacture and produce sustainable products. Oil and gas products like plastics are cheaper compared to glass and metal.Paying employees livable wages is more expensive than underpaying them or relying on child labor. However, another solution to the problems with our planet is a circular economy, where instead of focusing on solely the consumer and company, the focus is on the entirety of the economy. A circular economy is defined as an economy where main focuses are to regenerate ecosystems/nature, eliminating waste/pollution, and the circulation of products and resources (Ellen Macarthur Foundation, 2023).It’s a style of economy that is almost opposite of the one many countries have now, where the focus is on taking resources and making a product then using and wasting it.(Jørgensen and Pedersen, 2018) .

Bibliography: 

Ellen Macarthur Foundation (2023). What is a circular economy? [online] Ellen MacArthur Foundation. Available at: https://ellenmacarthurfoundation.org/topics/circular-economy-introduction/overview  [Accessed 7 Oct. 2023].

Gucci.com. (2023). The Alchemist’s Garden, Where My Heart Beats, 100ml. [online] Available at: https://www.gucci.com/uk/en_gb/pr/beauty/fragrances/fragrances-for-women/the-alchemists-garden-where-my-heart-beats-100ml-p-729946999990099[Accessed 7 Oct. 2023].

Jørgensen, S. and Pedersen, L.J.T. (2018). The Circular Rather than the Linear Economy. RESTART Sustainable Business Model Innovation, [online] (978-3-319-91970-6), pp.103–120. doi:https://doi.org/10.1007/978-3-319-91971-3_8. [ Accessed 7 Oct 2023]

MakeUp Eraser. (2023). Our Mission. [online] Available at: https://makeuperaser.co.uk/pages/our-mission[Accessed 7 Oct. 2023].

We are Lush. (2023). Ethical Buying. [online] Available at: https://weare.lush.com/lush-life/our-values/ethical-buying/#:~:text=For%20many%20years%20we%20have[Accessed 7 Oct. 2023].

www.thebodyshop.com. (2023). Changemaking For The Planet | Environmental Impact | The Body Shop. [online] Available at: https://www.thebodyshop.com/en-gb/about-us/changemaking-beauty/for-planet/a/a00090[Accessed 7 Oct. 2023].

UNDP. (2023). Sustainable Development Goals | United Nations Development Programme. [online] Available at: https://www.undp.org/sustainable-development-goals?gclid=CjwKCAjw4P6oBhBsEiwAKYVkq4PNFdRXG3cK0HaTkcF2jOL08A3-sQGercKmgUpeDKOs7NuqJLfa4BoCee4QAvD_BwE [Accessed 7 Oct. 2023].

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Fenty Beauty

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My favorite cosmetic brand is Fenty Beauty due to their shade range. A main problem in the cosmetic industry is inclusivity. Fenty beauty has 50 shades of foundation and even highlighters and blushes have shade range in form of undertones and color. Even the naming of their products was revolutionary as it was done by number instead of name. Their price range is also in the mid range meaning many can afford to buy it.

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