Identifying Opportunities for New Skincare Brand in 2024
Monica Tamba
Marketing Strategist
Market Researcher
Business Consultant
Instagram
Microsoft Excel
Microsoft Office 365
Mockup
Project Description
This project is created for the new brand that want to sell their products in Indonesia by giving the whole picture of Indonesia skincare industry and recommendation for the new brand to take the untapped market segment opportunities and product development ideas.
How do I do this project?
At first, I start to analyze how the market trends in Indonesia skincare market. Is it still profitable? If yes, how about the market growth? market forecast?
Then I move to market segmentation analysis. What kind of market that need to be served? How is it divided? by demography?
What are consumer's desire on skincare? What kind of result that they want to achieve?
What kind of products that appeals every market segment in Indonesia? Who is the top competitors?
What kind of ingredients that appeals every market segment in Indonesia?
What are the consumer trends 2024 in Indonesia that new brand can leverage?
How Indonesians do their skincare routines? How about their product usage habits?
What kind of skincare texture and formulations that they like?
How much they are willing to pay? Are they willing to try a new brand?
What about the competitors? What are their strength & weakness? What kind of insights that I can gather?
What are the conclusions of all of these informations? Is there any untapped market segments that the new brands can focused to serve? Is there any trends that new brand can jumped in and make into their unique selling point?