akanksha mac cosmatic report.docx
Descrição do Produto
Introduction
MAC Cosmetics was founded in Toronto, Ontario, Canada by Frank Toskan and Frank Angelo in 1984 with the assistance of chemist Vic Casale. The first U.S MAC store opened in 1991, in New York. The company's products were initially aimed at professional make-up artists, but are now sold to consumers worldwide. Nordstrom was the first department store in the United States to sell MAC products.
Estée Lauder Companies acquired a controlling interest in MAC in 1996, and then completed their acquisition of the company in 1998. Original founder Frank Angelo died in 1997 due to complications during surgery.
The brand first appeared in 1985; Frank Toskan became creative director and Frank Angelo director of marketing. The first store opened in 1991 in Greenwich Village.
The company's products were originally intended for makeup professionals, but are now sold directly to consumers worldwide. Frank Toskan states that he "first manufactured makeup for models, but then the models wanted this makeup for their sisters, friends, and so on... ". Today, the brand continues to work with in fashion show professionals: "From a niche brand [mainly for photo or film], MAC has become a global brand."
In the 1990s, the brand had over a hundred stores worldwide, earning 200 million francs. The development of the brand internationally, the opening of new points of sale, and the adaptation of product lines tailored to each continent, left little time for the founders to create new products. The company Estée Lauder took control of 51% of shares of MAC Cosmetics in 1994; the two founders retained creative control, while Estée Lauder managed the business end. The brand opened their first store in France in 1992 in the Latin Quarter. One of the company founders, Frank Angelo, died of cardiac arrest during surgery in 1997 at the age of 49.At that time M · A · C had a revenue of US $250 million, which doubled ten years later.
Estée Lauder Inc. completed the acquisition in 1998, and Frank Toskan decided to sell his remaining shares shortly thereafter; he left the company he founded at the end of the same year, 1998.
Today, MAC Cosmetics is one of the top three global makeup brands, with an annual turnover of over $1 billion, and 500 independent stores, with over thirty stores in France. All stores are run by professional makeup artists.
MISSION:
"All Races, All Sexes, All Ages" conceived to embrace all consumers.To be the worlds leading make-up authority among both professional make-up artists and consumers.To meet customers need for superior quality services and to provide secure & challenging work environment for all employees.As an organization it commits itself to high standards and creative development with an enterprise concept that all pains have gains.
VISION:
MAC cosmetics was founded with a creative vision to fill the gap between makeup artistry and fashion photography. Long before their company history, MAC cosmetics founders directed their product line towards professionals in the beauty and fashion industry who had to rely on heavy cosmetics, cake makeup and stage makeup to create the visual effects needed to withstand bright lighting during photo shoots
CSR:
-Corporate Social Responsibility M.A.C. Cosmetics is a great example of a company that practices corporate social responsibility.MAC has five social initiative programs currently in place 1.MAC Cruelty-Free Beauty: MAC formerly guaranteed that no animal testing was performed by themselves or their suppliers. 2.Back 2 MAC Recycling: offers free lipgloss, eyeshadow, or lipstick at any MAC location (lipsticks only at MAC counters in department stores) with the return of six empty MAC containers
MARKETING STRATEGY:
M.A.C Cosmetics markets its goods and services to both individuals and organizations. In the early development of the company M.A.C make-up was made purposely for professional make up artists to with-stand rigorous wear of make-up for models during photo-shoot and fashion shows. Now M.A.C markets to women of all ages and ethnicities.Although M.A.C Cosmetics trade in the niche market where its target market is only female.
PRODUCT LINE ALONG WITH PRICE:
1.MAC brush-$35.00 2.MAC eye shadow-$15.00 3.MAC lipglass-$15.00 4.MAC lustreglass-$20.27 5.MAC nail lacquer-$16.00 6.MAC plush lash mascara-$22.79 7.MAC pro long wear Lipcolour-$13.20 8.MAC Studio Tech Foundation-$48.68 9.MAC A Fabulous Fantasy Lip Kit-$40.00 10.MAC Antonio Lopez mirror-$40.00 11.MAC beauty powder-$27.00 12.MAC lipstick-$16.00
SALES PROMOTION:
Personal selling is one of the oldest forms of promotion. M.A.C Cosmetics follows this strategy and stands out as the world's largest make up company. Personal Selling:
ADVERTISING:
M.A.C. Cosmetics was initially distributed among friends only in the fashion industry and till today M.A.C. does not ever have to conduct any kind of advertising.This is all credited to word of mouth publicity and celebrity endorsements, which usually includes models, pro make-up artists and actresses.
SWOT ANALYSIS BRAND STRENGTHS:
MAC Cosmetics is a world renowned cosmetic company.The company's unique and well known brand image has created a strong celebrity following. In addition, the brand receives a vast amount of word of mouth endorsements from professional make up artists. MAC Cosmetics prides itself in creating high quality, fashion forward products that are cruelty free while providing consumers with the experience of being attended to by highly trained makeup professionals.
BRAND WEAKNESSES:
MAC Cosmetics does not have a large amount of weaknesses. One weakness the company is facing is that the pricing of its products. So for this reason MAC cosmetics products are largely available to the professional and celebrities only. Only a very few common people can purchase it
BRAND OPPORTUNITY:
MAC Cosmetics has a few marketing opportunities available to them Firstly, MAC has the opportunity to create more freestanding stores rather than having a small spot designated for the company in a larger department They also have an opportunity for International expansion. In society today, consumers have become more health conscious and MAC Cosmetics has the opportunity to advertise that all of their products are cruelty free and they contain ingredients of the highest quality. Finally, existing programs like the MAC Aids Fund present additional marketing opportunity for the cosmetics company.
THREATS:
Threats that MAC Cosmetics is currently facing are mainly competitors. In regards to competitive threats,the main threat is in their pricing.Because their prices are very high.their products are unable to reach to the common people unlike Loreal and Revlon whose prices are comparatively cheaper
COMPETITIVE ANALYSIS:
MAC cosmetics is owned by parent company Estée Lauder and competes directly with L'Oréal brands Maybelline and Revlon in the Canadian cosmetic industry. L'Oréal currently holds the top spot in cosmetics. Revlon is another competitor in cosmetics.
RECOMMENDATION:
1.M.A.C cosmetics charges high price for its product which allows only rich people to buy.So M.A.C Cosmetics should reduce their price so that common people can buy it 2.M.A.C Cosmetics should also go for diffrent product line such as beauty cream,beauty soap,shampoo,lotion etc 3.M.A.C cosmetics should change their distribution channel to make their product more available.
Controversy
Controversy arose in September 2010 over the anticipated release of the MAC Rodarte collection, a collaborative effort with the fashion label Rodarte , based on the border town of . The city had been plagued by violence against women including hundreds of female homicides. MAC first changed the names of Juarez-related products and eventually pulled the line before distribution. And instead set up a charity which raised over $3 million in 2 years.
COMPANY PROFILE
Company Name
MAC Cosmetics – Make-up Art Cosmetics
Founders
Frank Angelo – Beauty Salon Owner
Frank Toskan – Make up Artist and Photographer
Motto
"All ages. All Races. All sexes."
Owned by:
Estee Lauder Companies.
Origin:
Toronto, Ontarion
When MAC Cosmetics launched:
1984
Packaging:
MAC is known for their sleek, black acrylic packaging and bold white print. Their tapered lipstick tubes are shaped reminiscently like an over sized bullet.
Freddie Mac Foundation is a charitable organization that supports and promotes children, youth, and their families living in the Metropolitan Washington area. The organization's community action policies focus on strengthening families, youth development, and foster care and adoption. Its Corporate Giving program provides funding to support programs in early childhood education and school-age education. Freddie Mac Foundation was founded in 1991 and is in McLean, Virginia.
8250 Jones Branch Drive
Mailstop A40
McLean, VA 22102
United States
Founded in 1991
Phone:
703-918-8888
Fax:
703-918-8895
www.freddiemacfoundation.org
Freddie Mac Announces Earnings Results for the First Quarter of 2015
May 8 15
Freddie Mac announced earnings results for the first quarter of 2015. For the quarter, the company reported a net income of $524 million, and comprehensive income of $746 million for the same period.
Freddie Mac Announces Earnings Results for the Third Quarter of 2014
Nov 6 14
Freddie Mac announced earnings results for the third quarter of 2014. For the quarter, the company posted net income of $2.1 billion far smaller than the $30.5 billion it earned in the third quarter of 2013. But the year-earlier amount reflected an accounting move that allowed Freddie to capitalize on tax benefits it had saved up from its losses on mortgages during the financial crisis. Earnings can fluctuate widely due to changes in interest rates and home prices.
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Objectives Of The Study
Another objective of study was to check the popularity of Mac cosmetics
To check whether people know about Mac cosmetics
RESEARCH METHODOLOGY
RESEARCH DESIGN
INTRODUCTION
A Research Design is the framework or plan for a study which is used as a guide in collecting and analyzing the data collected. It is the blue print that is followed in completing the study. The basic objective of research cannot be attained without a proper research design. It specifies the methods and procedures for acquiring the information needed to conduct the research effectively. It is the overall operational pattern of the project that stipulates what information needs to be collected, from which sources and by what methods.
RESEARCH METHODOLOGY
TYPE OF DATA COLLECTED
There are two types of data used. They are primary and secondary data. Primary data is defined as data that is collected from original sources for a specific purpose. Secondary data is data collected from indirect sources.
PRIMARY SOURCES
These include the survey or questionnaire method, telephonic interview as well as the personal interview methods of data collection.
SECONDARY SOURCES
These include books, the internet, company brochures, product brochures, the company website, competitor's websites etc, newspaper articles etc.
SAMPLING
Sampling refers to the method of selecting a sample from a given universe with a view to draw conclusions about that universe. A sample is a representative of the universe selected for study.
THE MARKET RESEARCH PROCESS
The entire project was divided into five phases and each phase had its individual significance and supplemented each other. The process had to be started from the grass root level and it was very important to understand the market for this FMCG product, which is very fast in production, distribution and consumption.
Data Analysis and Interpretation
Would you consider yourself a loyal MAC Cosmatics customer?
Factors
Respondents
Percentage
Yes
13
65%
No
7
35%
Interpretation- Among 20 respondents, 65% people loyal MAC cosmatics customer and 35% people do not loyal MAC cosmatics customer
How often do you use MAC Cosmetics?
Factors
Respondents
Percentage
Everyday
6
30%
For dressing up
9
45%
Not often at all
5
25%
Interpretation- Among 20 respondents,45% of people have use MAC cosmetics for dressing up, 30% have use MAC cosmetics for everyday and 25% people have use MAC cosmetics not often at all
Who introduce you to MAC Cosmetics?
Factors
Respondents
Percentage
You came acros it yourself
7
35%
A family member
4
20%
A magazine
7
35%
Other
2
10%
Interpretation- Among 20 respondents, 35% people introduced MAC Cosmetics across it yourself, other 35% introduced MAC Cosmetics a magazine , 10% people introduced MAC Cosmetics others and other 20% people introduced MAC Cosmetics a family member.
Dou you feel MAC Cosmetics are priced fairly?
Factors
Respondents
Percentage
Yes
17
85%
No
3
15%
Interpretation- Among 20 respondents, maximum people (85%) feel MAC Cosmetics are priced fairly and other 15% people are not feel MAC Cosmetics are priced fairly
Which makeup products do you buy?
Factors
Respondents
Percentage
Foundation
10
50%
Mascara
0
0%
Eyeliner
4
20%
Eye shadow
4
20%
Lip liner
0
0%
Other
2
10%
Interpretation-Among 20 respondents, 20% people buy eyeliner, 20% people buy eye shadow, 10% people buy other and other 50% people buy foundation.
What's your occupation?
Factors
Respondents
Percentage
Student
15
75%
Employ
5
25%
Interpretation- Among 20 respondents, maximum (75%) peoples are students and 25% peoples are employs.
How often do you do you buy cosmetic products?
Factors
Respondents
Percentage
Once a month
9
45%
2 times a month
6
30%
4 times a month
3
15%
5 times a month
2
10%
Interpretation-Among 20 respondents, 45% people buy cosmetic products once a month, 15% people buy cosmetic products 4 times a month, 10% people buy cosmetic products 5 times a month and other 30% people buy cosmetic products 2 times a month.
Where do you tend to buy your make-up?
Factors
Respondents
Percentage
Department stores
1
5%
Super markets
12
60%
Internet
4
20%
Direct sales
3
15%
Interpretation-Among 20 respondents, 60% people use buy make-up super market, 20% people use buy make-up internet, 15% people buy make-up direct sales and other 5% people buy make-up department stores.
Findings
About 45% people use MAC Cosmetics
About 85% people feel MAC Cosmetics are priced fairly
About 50% people used foundation in make-up products
35% introduced MAC Cosmetics by a magazine
75% peoples occupation are student and 5% peoples occupation are employed
Maximum people 60% buy make-up for super market
Percentage No. of Respondents
Percentage No. of Respondents
Percentage No. of Respondents
Percentage No. of Respondents
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