Question

What stage in the Product Life Cycle (PLC) is Sephora's collection? What strategies has the company used in the past to avoid or recover from drastic declines? Imagine you are a part of the marketing team and your product is reaching the decline stage or perhaps it’s a question mark. What would be your strategy during this stage? How would you revitalize the brand? Explain your decision

Answer 1

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Sephora is a French multinational chain of personal care and beauty stores.. The collection is at Maturity stage because its products include cosmetics, skincare, body, fragrance, nail color, beauty tools, and haircare and many other players and rivals in this industry provide many alternatives to customers so the demand of such product is at peak.

The increasing trend of customer in K beauty and herbal and natural beauty products cause this because company now have to come up with such natural and paraben free cosmetic products in order to meet the demand of customers otherwise its collection will go to decline.

The strategies which company has used because of drastic decline is invest in marketing online and celebrity influence to create demand of its products. also Company sell those product lines which are not profitable and invest in those which have market demand.

for example- In March 2018, FastCompany named Sephora to the number 36 spot (of 50) on their list of "World’s Most Innovative Companies", citing its expanded offering of broadly diverse and inclusive product lines like Fenty Beauty.

Fenty Beauty  is a cosmetics brand launched in September 2017 by singer Rihanna. The brand is popular for its broad inclusivity across skin tones and gender, especially its Pro Filt'R foundation.

the strategy commonly business take when product is at decline stage is either remove the product from market or reinvent the product like new with new features and value to customers.

Brand can be revitalize by offering innovative products which create value to customers like offering 100 percent natural beauty products. second invest in marketing and promotion like use of social cause marketing, celebrity influence, social media marketing to create brand awareness and re jog customer memory towards the brand.