The Beauty Business
Many independent pharmacies are jumping into the beauty industry with their own line of cosmeceuticals. In GCI‘s newsletter this morning we came across a link to their most recent issue and an article we found very interesting, “The Beauty Business is Not for Sxxxxxs“*
Some highlights from the article . . .
Author Alisa Marie Beyer, owner of The Beauty Company, sees the lifecycle of the beauty industry to contain the following elements:
Vision: “Business planning, financial strategy, budgets, competitive studies, concept creation, testing and strategy overviews” and the like. These are the groundwork for your business and like any business – they need to be completed first.
Plan & Design: This is where you let your creative juices flow. “Your wildest desires, dreams and development ideas should be encouraged to run free as you build and develop your brand positioning story and platform, mood bords, logos and icons” etc.
Build: Now that you’ve got the first three elements under your belt, it’s time to put them all together into the physical “packaging copy, websites, user guides, brand books, social media pages and retailer kits.” This is also the time to find vendors for packaging as well as work on consumer trial groups.
Deliver & Operate: Now it’s time to put your money where your mouth is. “It’s not enough anymore to just create a beautiful brand with gorgeous packaging and lush formulas. Consumers won’t come just because you build it. You need to create and maintain an aggressive sales plan”
For inspiration for your own brands – look all around you. What products do you like? What have they done well? How do they market? Furthermore, what kind of line do you want to create? Is it for the masses or do you want to focus on something ultra specific. Good luck and when you create your line, please share it with us at Pharmacy Marketing Quarterly!
To read the full article, CLICK HERE.
*The title of the magazine article included a word that we found to be in poor taste. In this current climate of bullying we felt that the title was inappropriate and chose not to focus on print it.