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This document outlines a research methodology for studying the relationship between marketing strategies in the cosmetic industry and consumer behavior. The research objectives are to understand how marketing trends impact consumer behavior and study consumer buying habits of cosmetic products. The research will explore factors influencing cosmetic purchases, current company marketing strategies, and market gaps through analyzing secondary data and case studies. The expected outcomes are understanding consumer behavior patterns regarding cosmetic categories/varieties and how companies regulate purchases and adapt strategies to shifting consumer preferences.
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- 1. Research Methodology Cosmetic Industry Presented By – Akshay Gaikwad (20165003) Aquesha Tirmizi (20165005) Puja Tripathi (20165028) Radhika Sarda (20165029)
- 2. Problem Statement • A study of relationship between the consumer behavior and the marketing strategies used in cosmetic industry Research Objective • Primary – To understand the relationship between marketing strategies or current marketing trends in cosmetic industry and consumer behavior. • Secondary – To study the consumer buying behavior towards cosmetic products.
- 3. Research Questions • What are the various factors influencing the buying decision of consumer towards cosmetic products? • What are the current marketing strategies used by various cosmetic companies? • What is the market gap in cosmetics industry? Research Design • Research Design - Exploratory Design • Source of Data - Secondary data • Research Tool – Case studies
- 4. Outcome • To unfold the behavioral pattern of consumers towards the different categories and varieties of cosmetic products • Understanding the ways adopted by cosmetic companies to regulate the purchase of the consumers • Understanding how the companies change their strategies in accordance to the changing taste and preference of consumers