executive summary
Generation-Z, the most mobile, digital, and socially conscious generation searches for authenticity in their brands and their advertising (Marketing Charts, 2014). With the hair-care industry being a highly competitive market, Life Locks aims to establish differentiation through an environmentally friendly and socially conscious product, protecting both the environment and supporting humane labor practices. This strategy aims to be accomplished through products based in natural ingredients that will protect both the consumer’s hair and the environment. An easy to use product, Life Locks will appeal to the fast-paced lifestyle of the Generation-z market. Further appealing to the chosen target market, the business will be run through e-commerce, supporting Generation-z’s digital and convenience-centered lifestyle. Finally, the majority of marketing will be done through social media in order to ensure the greatest reach of the target market. A segment of this marketing will be done through YouTube endorsement with the help of online ‘influencers’ who will promote Life Locks products to their fans. Market research has proven this form of endorsement to be highly successful in terms of the target market. Life Locks also plans to implement tactics such as viral marketing to spark interest in both the product and the brand as a whole.
swot analysis
SWOT analysis for L’Oreal Paris in the hair dye market
Strengths: Market Share: L’Oreal is the largest shareholder in the hair-care market (7.6%) which includes hair dyes and shampoo (DuBois, 2014). This strengthens L’Oreal’s position in the market because as the market grows, L’Oreal’s market share will grow in proportion increasing revenue. Market Reach: L’Oreal has a large global reach and its products were revolutionary to the industry of hair-care (DuBois, 2014) It allowed many women to use their products at home, making it accessible by a large proportion of the market. (DuBois, 2014) Opportunities: Market growth potential: Many women color their hair and when the study was conducted this was ‘approximately 50% of women’. Additionally, ‘the market was expected to continue to grow as customers aged’ (DuBois, 2014). This creates opportunity for L’Oreal because they have a better access to their customer base. Since it is an established brand that has been on the market for a substantial amount of time, older women would be aware of the brand. Weaknesses: Large number of players in the same market: Although they hold the largest share of the market, there is a great amount of competition. Greater challenges in repositioning the brand: Since L’Oreal is an established brand that has dominated the market for a long period of time, it is less flexible in terms of changing brand positioning. There is a risk that this repositioning will go against consumers established schema, creating discomfort (Tuncdogan, 2018). Threats: New entrants in the market with great differentiation: The home hair-coloring market is extremely competitive. (Du Bois, 2014) |
SWOT analysis regarding the social media presence of L’Oreal Paris
Strengths: The use of social media has allowed L’Oreal to both ‘develop’ and “push” new products’ in other words ‘accelerate awareness building’ (DuBois, 2014). As the case states, social media allows for the company ‘faster access to consumer insights’ (DuBois, 2014). The data collected from social media allow a company to gain ‘insights about consumers or competitors’ and therefore help reveal trends in the market. (DuBois, 2014) Opportunities: Social media has become an increasingly important part of the communication mix in today’s technologically sophisticated world. This is especially true for certain markets who receive most information and advertising through social media, such as millennials and generation-z (See Appendix A). Weaknesses: Decreasing brand value due to in-genuine endorsement: YouTube and other social media endorsements are sometimes viewed as insincere. Consumers may believe these influencers are only promoting products for money (DuBois, 2014). Threats: Market saturation: The high volume of social media marketing has contributed to clutter, especially in regards to advertisement for beauty products (such as YouTube endorsement and sponsored social media posts) (DuBois, 2014). |
Value Proposition
Life Locks will directly target the women of generation-Z, attempting to fulfill their need for a simple and easy to use product that is also safe for the environment as well as their hair. This product line will also retail for a moderate price: allowing the company to make profit, but also sell for a price that our target market can easily afford. This will be accomplished through low overhead in manufacturing and corporate expenses.
The product will enhance natural hair color: allowing both natural and pre-dyed blondes to make hair brighter and brunettes to put any tint on their hair. It will also be effective without the need for pre-bleaching, which is one the main reasons for damage in color-treated hair. It will be a single step product that delivers results without a large time commitment, an important selling point for Generation-Z.
Success of a new business can come from differentiation which in turn, creates competitive advantage (Tuncdogan, 2018). The product line will be differentiated from other brands because it will be eco-friendly, meaning it will not contain ammonia or chemical fragrances that contaminate the environment. Furthermore, it will be produced using ethical labor practices, supporting fair wages and positive work environments.
An additional basis of differentiation is reputation, which can be used to differentiate this product since it does not have a completely new function (Tuncdogan, 2018). Life Locks aims to establish its reputation as an authentic brand that cares about its customers and the earth. Making this differentiation is significant for the target market since Generation-Z searches for authenticity in the brand whose products they consume.
The product will enhance natural hair color: allowing both natural and pre-dyed blondes to make hair brighter and brunettes to put any tint on their hair. It will also be effective without the need for pre-bleaching, which is one the main reasons for damage in color-treated hair. It will be a single step product that delivers results without a large time commitment, an important selling point for Generation-Z.
Success of a new business can come from differentiation which in turn, creates competitive advantage (Tuncdogan, 2018). The product line will be differentiated from other brands because it will be eco-friendly, meaning it will not contain ammonia or chemical fragrances that contaminate the environment. Furthermore, it will be produced using ethical labor practices, supporting fair wages and positive work environments.
An additional basis of differentiation is reputation, which can be used to differentiate this product since it does not have a completely new function (Tuncdogan, 2018). Life Locks aims to establish its reputation as an authentic brand that cares about its customers and the earth. Making this differentiation is significant for the target market since Generation-Z searches for authenticity in the brand whose products they consume.
market segmentation
In terms of demographic segmentation, the target market for this product consists of college-aged women, part of Generation-Z. An interesting group in terms of average income, Generation-Z has a broad range, spanning from $7,500 to $42,000 per year (Hill Sineriz, 2018). Working a variety of different occupations and searching for flexibility, some students even work up to 30-hours per week (Hill Sineriz, 2018). And, studies show that ‘70% of Generation-z currently earn their own spending money’, which is greater than previous generations (The Center for Generational Kinetics). Therefore, with a moderate income the women of Generation Z will not have a large disposable income but this market remains fruitful in terms of spending potential, with research showing that Generation-Z spends more on beauty ($368/ year) than on apparel (Young, 2018).
In terms of psychographic segmentation, the target consumer is one who has a busy, fast-paced lifestyle. As previously mentioned, this group is most likely balancing a job, school work and a social life. Therefore, they have little time to put great effort in hair-care. The target market for this product can also be categorized as globally and environmentally conscious (Premack, 2018). Research has also proven that members of Generation-Z search for greater authenticity in a brand (Marketing Charts, 2014). As studies show, ‘30% of Gen Z prefer to get information on a brand from a real customer of that brand’ (The Center for Generational Kinetics). This further supports the notion of a need for honesty and authenticity in advertisement.
In terms of behavioral segmentation, the target market would need to re-purchase the product for maintenance. Therefore, brand loyalty must be enhanced through increasing brand-awareness or top-of-mind awareness within the target market. This will ensure that the brand will instantly come to mind when purchase decisions are being made (Doyle, 2011). Furthermore, because of Life Lock’s aim to keep hair free from harsh chemicals, it is important for the brand to communicate to customers that best results are achieved by only using Life Lock’s products. This will help further brand loyalty among consumers.
From this we can conclude that the need of the target market is convenience which will be fulfilled by the e-commerce business model, allowing for purchases to be made online and sent directly to the customer. The target market is also in need of simplicity which will be fulfilled by the easy to use product with few steps and little expertise. Furthermore, Life Locks will fulfill Gen-Z’s need for socially and environmentally conscious products.
In terms of psychographic segmentation, the target consumer is one who has a busy, fast-paced lifestyle. As previously mentioned, this group is most likely balancing a job, school work and a social life. Therefore, they have little time to put great effort in hair-care. The target market for this product can also be categorized as globally and environmentally conscious (Premack, 2018). Research has also proven that members of Generation-Z search for greater authenticity in a brand (Marketing Charts, 2014). As studies show, ‘30% of Gen Z prefer to get information on a brand from a real customer of that brand’ (The Center for Generational Kinetics). This further supports the notion of a need for honesty and authenticity in advertisement.
In terms of behavioral segmentation, the target market would need to re-purchase the product for maintenance. Therefore, brand loyalty must be enhanced through increasing brand-awareness or top-of-mind awareness within the target market. This will ensure that the brand will instantly come to mind when purchase decisions are being made (Doyle, 2011). Furthermore, because of Life Lock’s aim to keep hair free from harsh chemicals, it is important for the brand to communicate to customers that best results are achieved by only using Life Lock’s products. This will help further brand loyalty among consumers.
From this we can conclude that the need of the target market is convenience which will be fulfilled by the e-commerce business model, allowing for purchases to be made online and sent directly to the customer. The target market is also in need of simplicity which will be fulfilled by the easy to use product with few steps and little expertise. Furthermore, Life Locks will fulfill Gen-Z’s need for socially and environmentally conscious products.
Target Market: purchase decisions
Theoretical schema can be used to analyze the purchase decisions of the target market for this product. The Elaboration Likelihood Model (ELM) suggests that those with a low-level of involvement process information better peripherally (Tuncdogan, 2018). Since the target market is one with a busy lifestyle and the purchase is low-involvement, the use of heuristics would more effective in communicating with the target market. This includes advertisements that play on emotion or humor, or endorsements.
Customer acquisition is important in terms of the target market’s purchase decision since the brand is a start-up in a competitive industry. Therefore, to influence the purchase decisions of new customers’ brand awareness must be increased, more specifically top-of-mind awareness. Reviews may also effect new customer acquisition since Generation-Z is also highly influenced by reviews when deciding to purchase a product. Studies show that 72% of Generation-Z used reviews and ratings before buying an item online (The Center for Generational Kinetics). And, in a similar regard, 66% were influenced to not buy a product due to negative reviews (The Center for Generational Kinetics).
Purchase decisions are also often influenced by identity schemas which can be established through marketing (Tuncdogan, 2018). In terms of marketing for Life Locks, keywords relating to nature and life can be primed throughout the website and advertising. Or, symbols of nature such as leaves and plants could be implemented, as in the company logo.
Customer acquisition is important in terms of the target market’s purchase decision since the brand is a start-up in a competitive industry. Therefore, to influence the purchase decisions of new customers’ brand awareness must be increased, more specifically top-of-mind awareness. Reviews may also effect new customer acquisition since Generation-Z is also highly influenced by reviews when deciding to purchase a product. Studies show that 72% of Generation-Z used reviews and ratings before buying an item online (The Center for Generational Kinetics). And, in a similar regard, 66% were influenced to not buy a product due to negative reviews (The Center for Generational Kinetics).
Purchase decisions are also often influenced by identity schemas which can be established through marketing (Tuncdogan, 2018). In terms of marketing for Life Locks, keywords relating to nature and life can be primed throughout the website and advertising. Or, symbols of nature such as leaves and plants could be implemented, as in the company logo.
Business MOdel
The business model for this product will be centered around an E-Commerce system, meaning the products will only be sold online. As the technological revolution continues to influence every aspect of life, profits for ‘brick-and-mortar’ shops are decreasing (Tuncdogan, 2018). Due to increased competition in the E-Commerce model, such as Amazon Prime which provides same-day delivery, a transition to online sales is crucial to the success of many businesses in today’s world (Tuncdogan, 2018).
Life Lock’s revenue stream will be transaction based, with profits stemming from product sales. These sales will be made through two main sales channels, both using an e-commerce model. Primarily, the products will we sold directly through the Life Locks website. But to increase sales, the products will also be sold on Amazon, a distribution channel who holds a large share of the e-commerce market (Statista, 2018). Rather than competing with Amazon, Life Locks will use it to help generate sales and increase brand awareness (See Appendix B).
To ensure that each step of the process involves fair labor as well as environmentally friendly production, the company will follow an integrated business model. In other words, the company will have control of the whole product life cycle which includes: ‘design, production, distribution/storage, sales and marketing’ (Tuncdogan, 2018). Therefore, start-up expenses for this type of production may be greater than outsourcing with the need for creation or purchase of company-owned factories and the acquisition of labour and raw materials (Amadeo, 2018). But, eco-friendly products will provide a return on investment because the product’s ethical production and environmentally sustainable nature are its main selling points. And, once the brand is fully established, there will be fewer recurring, ‘transaction costs’ with the brand having control of their own supply chain, creating ‘higher entry barriers’ for competition and an in ‘technological capabilities’ (Buzzell, 1983).
Life Lock’s revenue stream will be transaction based, with profits stemming from product sales. These sales will be made through two main sales channels, both using an e-commerce model. Primarily, the products will we sold directly through the Life Locks website. But to increase sales, the products will also be sold on Amazon, a distribution channel who holds a large share of the e-commerce market (Statista, 2018). Rather than competing with Amazon, Life Locks will use it to help generate sales and increase brand awareness (See Appendix B).
To ensure that each step of the process involves fair labor as well as environmentally friendly production, the company will follow an integrated business model. In other words, the company will have control of the whole product life cycle which includes: ‘design, production, distribution/storage, sales and marketing’ (Tuncdogan, 2018). Therefore, start-up expenses for this type of production may be greater than outsourcing with the need for creation or purchase of company-owned factories and the acquisition of labour and raw materials (Amadeo, 2018). But, eco-friendly products will provide a return on investment because the product’s ethical production and environmentally sustainable nature are its main selling points. And, once the brand is fully established, there will be fewer recurring, ‘transaction costs’ with the brand having control of their own supply chain, creating ‘higher entry barriers’ for competition and an in ‘technological capabilities’ (Buzzell, 1983).
Communication Mix
Although the campaign will focus on both online and traditional media, the majority of marketing will be digital because of its numerous benefits. For example, digital marketing provides greater ‘interactivity’ with the customer, meaning ‘the communication is not one way’ (Tuncdogan, 2018). This will allow for a more authentic relationship between the customer and the brand. Digital marketing also lends well to ‘multichannel marketing’ meaning various communication channels can supplement each other, both traditional and digital (Tuncdogan, 2018). Finally, digital marketing allows for greater ‘mobility’ so that customers can be reached globally (Tuncdogan, 2018). The use of digital channels creates greater ‘speed’ and ‘efficiency’, two aspects regarded highly by Generation-Z, the target market (Tuncdogan, 2018).
Social media will make up a large portion of the campaign’s media mix, helping generate word of mouth about the brand (Tuncdogan, 2018). With Generation-Z being the target market, social media would also allow for a greater reach of the marketing campaign (See Appendix A). This will allow the brand to remain interactive with the target market and retain trust in the authenticity of the brand.
YouTube endorsement has become an extremely popular and effective way to target audiences through social media. ‘Who’ delivers the message is an important aspect of how effective it will be (Tuncdogan, 2018). YouTube influencers have become ‘brand advocates’, helping create buzz around a product through their supporters (Armoo, 2015). They are also considered more relatable and authentic than celebrity endorsers since many of them are regular consumers and often create relationships with their fan base (O’Neil-Heart & Blumenstein, 2016). Research shows that: ‘6 in 10 YouTube subscribers would follow advice on what to buy from their favorite creator over their favorite TV of movie personality’ and that ‘70% of teenage YouTube subscribers say they relate to YouTube creators more than traditional celebrities’ (O’Neil-Heart & Blumenstein, 2016). However, this is a form of product placement therefore companies must not make this form of endorsement too obvious, although it is often viewed positively (Tuncdogan, 2018).
In terms of traditional media, magazines having a ‘large number of specialized targets’ will allow for niche marketing to better reach the target market (Tuncdogan, 2018). Magazines like Cosmopolitan and Glamour are targeted to the younger generation, especially those interested in beauty and fashion. They both have high reach in terms of the target market (See Appendix B). Furthermore, to target Life Locks’ low-involvement consumer, visually stimulating print ads that invoke emotion will be successful in activating the consumer’s peripheral route processing.
Social media will make up a large portion of the campaign’s media mix, helping generate word of mouth about the brand (Tuncdogan, 2018). With Generation-Z being the target market, social media would also allow for a greater reach of the marketing campaign (See Appendix A). This will allow the brand to remain interactive with the target market and retain trust in the authenticity of the brand.
YouTube endorsement has become an extremely popular and effective way to target audiences through social media. ‘Who’ delivers the message is an important aspect of how effective it will be (Tuncdogan, 2018). YouTube influencers have become ‘brand advocates’, helping create buzz around a product through their supporters (Armoo, 2015). They are also considered more relatable and authentic than celebrity endorsers since many of them are regular consumers and often create relationships with their fan base (O’Neil-Heart & Blumenstein, 2016). Research shows that: ‘6 in 10 YouTube subscribers would follow advice on what to buy from their favorite creator over their favorite TV of movie personality’ and that ‘70% of teenage YouTube subscribers say they relate to YouTube creators more than traditional celebrities’ (O’Neil-Heart & Blumenstein, 2016). However, this is a form of product placement therefore companies must not make this form of endorsement too obvious, although it is often viewed positively (Tuncdogan, 2018).
In terms of traditional media, magazines having a ‘large number of specialized targets’ will allow for niche marketing to better reach the target market (Tuncdogan, 2018). Magazines like Cosmopolitan and Glamour are targeted to the younger generation, especially those interested in beauty and fashion. They both have high reach in terms of the target market (See Appendix B). Furthermore, to target Life Locks’ low-involvement consumer, visually stimulating print ads that invoke emotion will be successful in activating the consumer’s peripheral route processing.
Brand Positioning
The brand personality for the product will be exciting and sincere to appeal to Generation-Z. This will also differentiate the brand from L’Oreal which currently has a more sophisticated brand personality. Life Locks will adopt this brand positioning with a focus on authenticity because this marketing strategy is supplemented by the ‘changing nature of consumption’ where brands are no longer seen as simply products, but also, as people (Tuncdogan, 2018). In other words, a transition can be observed away from the utilitarian aspects of a brand and towards its symbolic aspects (Tuncdogan, 2018).
To position the brand in this way, a viral marketing tactic can be used to promote the ethics of the company. For example, a social media challenge can be used to connect the brand to a specific cause. Life Locks has created the #lovemylocks #lovetheland challenge which promotes embracing one’s natural hair and its beauty as well as supporting eco-friendly initiatives. For example, the customer could post a picture after using Life Locks and caption it with the hashtags: #lovemylocks #ecofriendly #beautifulearth #beautifulhair. Since Generation Z is also a highly individualistic generation, one that seeks uniqueness, this will directly appeal to their ideals (Premack, 2018).
Viral marketing tactics can play on the emotions of the audience. ‘differentiated content designed to emotionally compel that group to forward it to others’ (Tuncdogan, 2018). This will not only contribute to peripheral route processing of the low-involvement consumer but also target the socially conscious nature of Generation-Z (Premack, 2018).
To position the brand in this way, a viral marketing tactic can be used to promote the ethics of the company. For example, a social media challenge can be used to connect the brand to a specific cause. Life Locks has created the #lovemylocks #lovetheland challenge which promotes embracing one’s natural hair and its beauty as well as supporting eco-friendly initiatives. For example, the customer could post a picture after using Life Locks and caption it with the hashtags: #lovemylocks #ecofriendly #beautifulearth #beautifulhair. Since Generation Z is also a highly individualistic generation, one that seeks uniqueness, this will directly appeal to their ideals (Premack, 2018).
Viral marketing tactics can play on the emotions of the audience. ‘differentiated content designed to emotionally compel that group to forward it to others’ (Tuncdogan, 2018). This will not only contribute to peripheral route processing of the low-involvement consumer but also target the socially conscious nature of Generation-Z (Premack, 2018).
conclusion
In summary, to compete with L’Oreal, a brand that has a large market reach and market share in a highly saturated market, Life Lock’s differentiates itself by appealing to a niche and underserved market. Through the use of eco-friendly production and fair labour practices, Life Locks appeals to the socially conscious nature of Generation-Z. And, it’s simple application technique appeals to the busy college-aged women in need of convenience. Similarly, through an e-commerce business model and primarily digital marketing campaign, this need for convenience is fulfilled further.
Bibliography
Amadeo, K. (2018). 5 Reasons Companies Go Vertical. [online] The Balance. Available at: https://www.thebalance.com/what-is-vertical-integration-3305807 [Accessed 10 Jan. 2019].
Armoo, T. (2015). It’s Time to Think Differently About YouTube Influencers. [online] Campaign. Available at: https://www.campaignlive.co.uk/article/its-time-think-differently-youtube-influencers/1344371 [Accessed 15 December 2018]
Business Dictionary. (2018). Sales Channel. [Online]. Available at: http://www.businessdictionary.com/definition/sales-channel.html [Accessed 24 December 2018]
Buzzell, R. (1983). Is Vertical Integration Profitable?. [online] Harvard Business Review. Available at: https://hbr.org/1983/01/is-vertical-integration-profitable [Accessed 10 Jan. 2019].
Doyle, C. (2011). A dictionary of marketing. 3rd ed. Oxford: Oxford University Press.
DuBois, D. (2014). Ombre, Tie Die, Splat Hair: Trends or Fads? INSTEAD: The Business School for the World. p. 1-12
Gaille, B. (2014). 25 Dramatic Cosmopolitan Magazine Demographics. [online]. https://brandongaille.com/25-dramatic-cosmopolitan-magazine-demographics/ [Accessed 27 December 2018].
Hill Sineriz, M. (2018). What is the Average College Student’s Income. Bizfluent.com. [online]. Available at: https://bizfluent.com/info-7934153-average-college-students-income.html [accessed 23 December 2018].
Hufford, J. (2018). Amazon Statistics: Need to Know Numbers About Amazon. [online]. N Channel. Available at: : https://www.nchannel.com/blog/amazon-statistics/. [Accessed 21 December 2018].
Jarboe, G. (2017). No Matter How You Define It, Generation Z Cannot Live Without YouTube. [online] Tubular Insights. Available at: https://tubularinsights.com/generation-z-youtube/ [Accessed 20 December 2018].
MacDonald, K. (2017). Instagram & Facebook: Highest Engagement on Sponsored Content. [online] Influence. Available at: https://influence.bloglovin.com/instagram-facebook-highest-engagement-on-sponsored-content-538fb4355486 [Accessed 21 December 2018].
Marketing Charts. (2014). The Importance for Authenticity and Honesty For Brands. [Online]. Available at: https://www.marketingcharts.com/brand-related-48502 Accessed 26 December 2018.
Marketing Charts. (2018). Mobile and Social Adoption, by Generation. [online]. Available at: https://www.marketingcharts.com/demographics-and-audiences-83363/attachment/pew-mobile-social-use-by-generation-may2018 [Accessed 22 December 2018].
Morrison, K. (2016) 53% of women made purchases due to influencer posts (survey). [online] Adweek. Available at: https://www.adweek.com/digital/53-of-women-made-purchases-due-to-influencer-posts-survey/ [Accessed 15 December 2018].
Nanji, A. (2017). The Most Popular Social Networks with Millennials, Gen-X, and Baby Boomers. [online] Marketing Profs. Available at: https://www.marketingprofs.com/charts/2017/31792/the-most-popular-social-networks-with-millennials-gen-x-and-baby-boomers [Accessed 21 December 2018].
O’Neil-Heart, C. and Blumenstein, H. (2016). Why YouTube Stars are more influential than traditional celebrities. [online] Think with Google. Available at: https://www.thinkwithgoogle.com/consumer-insights/youtube-stars-influence/ [Accessed 15 December 2018].
Premack, R. (2018). [online]. Business Insider. Generation Z is already moving away from Facebook, and 8 more industries could be next. [online] Business Insider. Available at: https://www.businessinsider.com/generation-z-things-gen-z-are-killing-facebook-ralph-lauren-2018-5?r=US&IR=T [Accessed 27 December 2018].
Roberts, P. (2017). 8 Social Media Statistics for 2017. [online] Our Social Times. Available at: https://oursocialtimes.com/7-social-media-statistics-for-2017/ [Accessed 22 December 2018].
Statista. (2018). Monthly Reach of Glamour Magazine in Great Britain from October 2016 to September 2017, By Demographic Groups (in 1,000s). [online]. Available at: https://www.statista.com/statistics/380967/glamour-monthly-reach-by-demographic-uk/ [Accessed 27 December 2018].
Statista. (2018). Percentage of E-Commerce Revenue From Amazon Sales According to Amazon Marketplace Sellers in 2018 [online]. Available at: https://www.statista.com/statistics/886918/amazon- revenue-share-of-amazon-sellers/ [Accessed 27 December 2018].
The Center for Generational Kinetics. (2016). Gen Z Customers Spend Money Differently. [online]. Available at: https://genhq.com/gen-z-2017-research-infographic-stats-money-earning-spending-shopping/ [Accessed 24 December 2018].
Tuncdogan, A. (2018). Social Media Platforms and Communication Channels.
Tuncdogan, A. (2018). Differentiation and Online Business Models.
Tuncdogan, A. (2018). Anthropomorphic and Brand Marketing.
Young, V. (2018). Gen Z Females Spend More on Beauty Than Apparel. [Online] WWD. Available at: https://wwd.com/fashion-news/fashion-scoops/gen-z-females-spend-more-on-beauty-than-apparel-handbag-teens-1202647038/ [Accessed 31 December 2018].
Amadeo, K. (2018). 5 Reasons Companies Go Vertical. [online] The Balance. Available at: https://www.thebalance.com/what-is-vertical-integration-3305807 [Accessed 10 Jan. 2019].
Armoo, T. (2015). It’s Time to Think Differently About YouTube Influencers. [online] Campaign. Available at: https://www.campaignlive.co.uk/article/its-time-think-differently-youtube-influencers/1344371 [Accessed 15 December 2018]
Business Dictionary. (2018). Sales Channel. [Online]. Available at: http://www.businessdictionary.com/definition/sales-channel.html [Accessed 24 December 2018]
Buzzell, R. (1983). Is Vertical Integration Profitable?. [online] Harvard Business Review. Available at: https://hbr.org/1983/01/is-vertical-integration-profitable [Accessed 10 Jan. 2019].
Doyle, C. (2011). A dictionary of marketing. 3rd ed. Oxford: Oxford University Press.
DuBois, D. (2014). Ombre, Tie Die, Splat Hair: Trends or Fads? INSTEAD: The Business School for the World. p. 1-12
Gaille, B. (2014). 25 Dramatic Cosmopolitan Magazine Demographics. [online]. https://brandongaille.com/25-dramatic-cosmopolitan-magazine-demographics/ [Accessed 27 December 2018].
Hill Sineriz, M. (2018). What is the Average College Student’s Income. Bizfluent.com. [online]. Available at: https://bizfluent.com/info-7934153-average-college-students-income.html [accessed 23 December 2018].
Hufford, J. (2018). Amazon Statistics: Need to Know Numbers About Amazon. [online]. N Channel. Available at: : https://www.nchannel.com/blog/amazon-statistics/. [Accessed 21 December 2018].
Jarboe, G. (2017). No Matter How You Define It, Generation Z Cannot Live Without YouTube. [online] Tubular Insights. Available at: https://tubularinsights.com/generation-z-youtube/ [Accessed 20 December 2018].
MacDonald, K. (2017). Instagram & Facebook: Highest Engagement on Sponsored Content. [online] Influence. Available at: https://influence.bloglovin.com/instagram-facebook-highest-engagement-on-sponsored-content-538fb4355486 [Accessed 21 December 2018].
Marketing Charts. (2014). The Importance for Authenticity and Honesty For Brands. [Online]. Available at: https://www.marketingcharts.com/brand-related-48502 Accessed 26 December 2018.
Marketing Charts. (2018). Mobile and Social Adoption, by Generation. [online]. Available at: https://www.marketingcharts.com/demographics-and-audiences-83363/attachment/pew-mobile-social-use-by-generation-may2018 [Accessed 22 December 2018].
Morrison, K. (2016) 53% of women made purchases due to influencer posts (survey). [online] Adweek. Available at: https://www.adweek.com/digital/53-of-women-made-purchases-due-to-influencer-posts-survey/ [Accessed 15 December 2018].
Nanji, A. (2017). The Most Popular Social Networks with Millennials, Gen-X, and Baby Boomers. [online] Marketing Profs. Available at: https://www.marketingprofs.com/charts/2017/31792/the-most-popular-social-networks-with-millennials-gen-x-and-baby-boomers [Accessed 21 December 2018].
O’Neil-Heart, C. and Blumenstein, H. (2016). Why YouTube Stars are more influential than traditional celebrities. [online] Think with Google. Available at: https://www.thinkwithgoogle.com/consumer-insights/youtube-stars-influence/ [Accessed 15 December 2018].
Premack, R. (2018). [online]. Business Insider. Generation Z is already moving away from Facebook, and 8 more industries could be next. [online] Business Insider. Available at: https://www.businessinsider.com/generation-z-things-gen-z-are-killing-facebook-ralph-lauren-2018-5?r=US&IR=T [Accessed 27 December 2018].
Roberts, P. (2017). 8 Social Media Statistics for 2017. [online] Our Social Times. Available at: https://oursocialtimes.com/7-social-media-statistics-for-2017/ [Accessed 22 December 2018].
Statista. (2018). Monthly Reach of Glamour Magazine in Great Britain from October 2016 to September 2017, By Demographic Groups (in 1,000s). [online]. Available at: https://www.statista.com/statistics/380967/glamour-monthly-reach-by-demographic-uk/ [Accessed 27 December 2018].
Statista. (2018). Percentage of E-Commerce Revenue From Amazon Sales According to Amazon Marketplace Sellers in 2018 [online]. Available at: https://www.statista.com/statistics/886918/amazon- revenue-share-of-amazon-sellers/ [Accessed 27 December 2018].
The Center for Generational Kinetics. (2016). Gen Z Customers Spend Money Differently. [online]. Available at: https://genhq.com/gen-z-2017-research-infographic-stats-money-earning-spending-shopping/ [Accessed 24 December 2018].
Tuncdogan, A. (2018). Social Media Platforms and Communication Channels.
Tuncdogan, A. (2018). Differentiation and Online Business Models.
Tuncdogan, A. (2018). Anthropomorphic and Brand Marketing.
Young, V. (2018). Gen Z Females Spend More on Beauty Than Apparel. [Online] WWD. Available at: https://wwd.com/fashion-news/fashion-scoops/gen-z-females-spend-more-on-beauty-than-apparel-handbag-teens-1202647038/ [Accessed 31 December 2018].
Appendix A: Charts and Infographics
Appendix B: Statistics
In terms of reach for Cosmopolitan magazine: ‘The largest demographic for Cosmopolitan is women aged 18-34 (34%) with over 9 million readers in total’ (Gaille, 2014).
In terms of the reach of Glamour Magazine in Great Britain, research shows ‘Reach was higher among younger adults, with 519 thousand adults aged 15 to 34 reached by the print title or its website’ (Statista, 2018).
‘According to a 2018 survey of mostly U.S.-based Amazon sellers, almost half of all businesses generated 81 to 100 percent of their revenues from Amazon sales’ (Statista, 2018).
'Four times as many sellers reach 1 millions sales on Amazon versus EBay' (Hufford, 2018).
In terms of reach for Cosmopolitan magazine: ‘The largest demographic for Cosmopolitan is women aged 18-34 (34%) with over 9 million readers in total’ (Gaille, 2014).
In terms of the reach of Glamour Magazine in Great Britain, research shows ‘Reach was higher among younger adults, with 519 thousand adults aged 15 to 34 reached by the print title or its website’ (Statista, 2018).
‘According to a 2018 survey of mostly U.S.-based Amazon sellers, almost half of all businesses generated 81 to 100 percent of their revenues from Amazon sales’ (Statista, 2018).
'Four times as many sellers reach 1 millions sales on Amazon versus EBay' (Hufford, 2018).