The fourth-quarter sales announced by Elizabeth Arden earlier this month weren’t just alarming to analysts. They point to something that some people in the fragrance business have long suspected: Celebrity name-slapping on perfumes and colognes has its limits.(adweek.com) Because of my survey and together with my research, the conclusion is that the millennial generation do not care about celebrity brand names, they care about quality and they are not afraid to pay for quality and value. According to retailleader.com "To engage millennials, or those between the ages of 17 and 34 who collectively are expected to spend more than $200 billion annually starting in 2017 and $10 trillion in their lifetimes, companies should engage them with social media, Advertising Age said. When millennials provide feedback, companies should acknowledge it, the story said. This demographic forms intense brand loyalty, with 70 percent claiming they come back to brands they prefer."
Monday, May 25, 2015
NEW PRODUCT: ANALYSIS
The new fragrance product is for women, so my survey question was towards female but some males did answered as well since some of them are the buyers for that product. Now my hypothesis was that women, specially my target demographic, do not care much for celebrity brand names which is not the same as a celebrity endorsing a perfume like Chanel No 5.
The fourth-quarter sales announced by Elizabeth Arden earlier this month weren’t just alarming to analysts. They point to something that some people in the fragrance business have long suspected: Celebrity name-slapping on perfumes and colognes has its limits.(adweek.com) Because of my survey and together with my research, the conclusion is that the millennial generation do not care about celebrity brand names, they care about quality and they are not afraid to pay for quality and value. According to retailleader.com "To engage millennials, or those between the ages of 17 and 34 who collectively are expected to spend more than $200 billion annually starting in 2017 and $10 trillion in their lifetimes, companies should engage them with social media, Advertising Age said. When millennials provide feedback, companies should acknowledge it, the story said. This demographic forms intense brand loyalty, with 70 percent claiming they come back to brands they prefer."
The fourth-quarter sales announced by Elizabeth Arden earlier this month weren’t just alarming to analysts. They point to something that some people in the fragrance business have long suspected: Celebrity name-slapping on perfumes and colognes has its limits.(adweek.com) Because of my survey and together with my research, the conclusion is that the millennial generation do not care about celebrity brand names, they care about quality and they are not afraid to pay for quality and value. According to retailleader.com "To engage millennials, or those between the ages of 17 and 34 who collectively are expected to spend more than $200 billion annually starting in 2017 and $10 trillion in their lifetimes, companies should engage them with social media, Advertising Age said. When millennials provide feedback, companies should acknowledge it, the story said. This demographic forms intense brand loyalty, with 70 percent claiming they come back to brands they prefer."
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