Marketing Cosmetic Products in Switzerland
Cosmetic products have been one of the major players in the consumer market for tangible products. Mature cosmetic products like those used to maintain proper hygiene have enjoyed the largest market share as this have become indispensable to daily life. Cosmetics that promote physical beauty also have a strong following especially with how our society views beauty and youthfulness. However, successful marketing of cosmetic products cannot rely only on the fact that cosmetics are saleable; instead knowledge of the current cosmetic’s market in the country that one is planning to enter. Switzerland according to a recent market research by Global Information Inc. (2007) on their cosmetics and toiletries market has found that the market is highly saturated. This means that the market is saturated with different brands and variants that the consumer may not need a new product. Besides, prices have bee found to stabilize with the increase in salaries and income, moreover, private label brands have difficulty penetrating the market. This would mean that the market for cosmetics in Switzerland is highly competitive with the older brands enjoying more customer loyalty and exposure than the high end brands.
The report also said that innovative products that target a special group have been found to enjoy higher following. Examples of which are men’s grooming, baby care, skin care and anti-aging products. Thus, if a company is planning to introduce a new cosmetic product to Switzerland, it must take note of the kind of products that are still relatively unsaturated and have higher chances of success. Moreover, innovative products based on scientific research and breakthroughs have been favored by the consumer, which means that new products to be introduced to the market should be sophisticated and highly specialized.
Global Information Inc. (2007). Cosmetics and Toiletries in Switzerland: Market Insight. Retrieved November 29, 2007 from http://www.the-infoshop.com/study/eo57475-cosmetics-toiletr_toc.html