Selling prestige beauty used to be a straight-forward business. The formula was to recruit a celebrity to be the ‘face’ of the brand, put a magic formula in a pretty bottle, and sell it through department stores, with a little sampling and gift-with-purchase thrown in. But that formula doesn’t work anymore. Today’s affluent consumers, the […]
Tag Archives: MAC
Luxury Marketing’s Higher Calling – from the 4Ps to the 4Es
In 2013, the American Marketing Association changed the definition of marketing. It went from the old 4Ps definition which most of us practicing marketers were drilled in: Product, Price, Promotion, Placement, to a new one based upon the idea of value: Judging from the sorry state of business today – the closing of 100 Macy’s […]