Lipsticks are one of the most famous types of decorative cosmetics used by people of different ages and genders worldwide. However, the price range of the product varies depending on the brand and the ingredients. Therefore, different target audiences find their own unique brand of lipstick according to their preferences and financial positions. It is important for companies to understand the positioning of their red lipsticks to ensure effective promotion to the right people.
Yves Saint Laurent, NYX, and Elf are the most common and famous brands that produce red lipsticks and have different target audiences. These brands are placed in a separate part of the positioning map due to the variances in prices and brand image. According to Bajaj & Bond (2018), the positioning map of beauty companies consists of high prices, low prices, luxury, and affordability. Yves Saint Laurent has luxurious packaging for their red lipstick, and the combination of gold and red can make people more confident in their appearance. Additionally, the company’s marketers promote their products to the target audience related to the upper social classes with a sense of fashion (Li, 2022). Nyx is also promoted as a high-quality brand with lasting red lipsticks, but the price stays low because of different policies and specific communication with the target audience, which includes teenagers and young people. Furthermore, elf red lipsticks have an appealing design on the package, but the quality of the products is low, which is supported by the low price.
Based on the location of the brand on the positioning map, strategies should be created. Luxurious and affordable cosmetic companies should follow competitors’ performance, understand the customer’s needs, and understand the brand’s future success (Mooij, 2021). By understanding the positioning of Yves Saint Laurent’s red lipsticks, it is easier to find the main competitors of the brand and check the performance of the company. For example, the main competitors of YSL, which produces red lipsticks, are Gucci and Dior (Li, 2022). Therefore, the company should understand the level of its positioning and promotion to show better performance. Controversially, the positioning strategy of such companies as NYX should stay unique and beat competitors by creating unique and cheap offers related to selling red lipstick.
The luxurious position of Yves Saint Laurent allows the company to advertise its products, like red lipsticks, on social media and give promo codes or coupons to attract more people to their target audience. NYX also provides discounts, but their position should be communicated to potential consumers with more effort because the number of substitutes is significant, and red lipsticks might not become popular. Elf Cosmetics communicates with the target audience using strong advertising campaigns, but when a client buy their lipstick, they are not expecting them to come back for this product again.
It is important to try new promotional techniques and attract other target audiences. For instance, Yves Saint Laurent is mostly promoted to millennials and some people from Gen Z (Li, 2022). However, NYX and Elf have more modern promotions that are related to the younger generation by working with TikTok influencers. Yves Saint Laurent can attract famous people who make contact with young people to attract more individuals from Generation Z. However, NYX and Elf can build more luxury campaigns based on the interests of older people.
References
Bajaj, A., & Bond, S. D. (2018). Beyond beauty: Design symmetry and brand personality. Journal of Consumer Psychology, 28(1). Web.
Li, M. (2022). The research on the brand strategy of Yves Saint Laurent. International Conference on Media, Art, Management and Educational Engineering. Web.
Mooij, M. (2021). Global marketing and advertising: Understanding cultural paradoxes. SAGE.