“Today’s
13-19 year olds (842 million globally in 2005) have far more spending power
than any generation before them and are serviced by a teenager’s products
market that is expected to hit an estimated US$238 billion worldwide this year.”
This means that modern-day teens have become more sophisticated spenders
through fashion-tastes and personality. By creating fragrances targeted towards
the teenage demographic can increase the likelihood of teens having expensive
taste, therefore leading them to purchase more premium products.
Lower-priced
mass fragrances in the pass have been appealed to the teenage market due to how
affordable it was but now more prestigious brands are repositioning themselves
in order to target a more younger demographic. An example would be Ralph Lauren’s
fragrance ‘Ralph Hot’ which has their brand logo, bold packaging design and a
multimedia advertising campaign, etc. in order to appeal to the younger
demographic.
Another
successful perfume fragrance that has been targeted towards teenagers is ‘Curious’
by Britney Spears. Celebrity-brands can also be a boost since it’s featuring
the celebrity of the brand in relation to their perfume so fans may more likely
purchase the fragrance.
Imaging is
said to be quite vital to hyper-fashion-conscious teenagers so making the
packaging and marketing one of the key factors which determine the success for
teenage brands which is why ‘Curious’ by Britney Spears is successful.
The retail
format is also another key factor in consideration for fragrances to attract
the money that teenagers possess. By using the right location and store to sell
the fragrance; it can be seen as a determine to how many sales they will gain.
Source: http://www.marketresearchworld.net/content/view/2067/77/
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