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OPI Nail Polish

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OPI Nail Polish

  1. 1. Nail Polish by Hannah Dion Yvonne Dygon Molly Valcour Alena Filistovi ch
  2. 2. Industry Overview Beauty Salon Industry Health and Beauty Department Industry Nail Care Industry Highly fragmented- personal salons near high traffic Economic Drivers: Disposable Income, National Unemployment Rate Demand Industries: Weddings, Personal Use Consumer Revenue: $50.2B Annual Growth: 2.6%-3.2% Segmentation: 10.2% nail services (30% of nail salon services are offered within larger salons (hair/skin care) Heavy users: Age 20-64 (most disposable income). 90% ages 35-44 account for nail services. -Business Insights Essential, OPI.com, bisWorld (2014)
  3. 3. O.P.I. (Odontorium Products Inc.) is a division of Coty Corporation Full line of professional items: nail treatments, finishing products, lotions, manicure/pedicure products, files, tools and acrylics Corporate Social Responsibility geared towards women, and locally around Hollywood, CA: Delete Blood Cancer Susan G. Komen Foundation City of Hope Schaeffer Family Foundation (CEO’s foundation) -Business Insights Essential, OPI.com, Hoovers.com
  4. 4. Product Overview Brand Image: “The most-asked-for brand in the industry! With a superior range of shades and the hottest special effects and textures, OPI is the go-to brand for nail fashion. From elegant classics to eye-popping brights, OPI has your color! Formaldehyde- free” “Professional Nail Care” Nail treatments, finishing products, lotions, manicure/pedicure products, files, tools and acrylics Over 1,000 colors. Price: $8.75 per bottle Distribution: (Only sold through authorized channels) CVS, Walmart, Target, Kmart, Duane Reade, Kroger and H-E-B locations, Ulta, Sephora. Sales History: 2010: $80 million (When Coty obtained the OPI company) Market Share: 20% -Moodie Report, Walmart.com, OPI.com, Bloomberg, Drug Store News
  5. 5. Competitors (Mintel, IbisWorld) Revlon Essie (L’Oreal) Image Classic, well recognized Trendy, focus on creativity Strengths Focus on R&D, product variety Convenience, some color variety Market Share 2.1% 9.3% Weaknesses Lack of scale, concentrated customer base, known for their makeup more 64 colors No product variety, 260 Colors Positioning Innovative Beauty Professional quality, yet whimsical Target Audience Women 55+ with higher income 18 to 24 yr olds
  6. 6. AD Budgets of OPI and Competitors -Due to increasing trends in nail color, Ad$pender was set for a 2 year time period on the total advertising budget for OPI and its competitors… Revlon Cable TV Dollars (000) $49.2 Internet Display Dollars (000) $2.3 Total Dollars (000) $51.5 Essie Magazines Dollars (000) $61,665 Internet Display Dollars(000) $816.7 Total Dollars (000) $62,471.7 OPI Network TV Dollars (000) $31.4 Magazines Dollars (000) $53,446.2 Internet Display Dollars (000) $481.2 Total Dollars(000) $53,958.7
  7. 7. SWOT Analysis Strengths: Chip resistant, long lasting formula Social Corporate Responsibility Whimsical Names Over 1000 colors Design: large brush, easy/strong grip top. Already in 50 different countries Focuses on nail care Weaknesses: Price- $3.45-$8.75 per bottle compared to Essie $5.32-$8.45 Not available on website Don’t have much social media integration “Salon” brand Opportunities: Nail art is trending, always room to grow/deliver Earned media from Beauty Bloggers/Youtubers Expand upon “salon” to everywhere brand Threats: Highly saturated market Niche market (female dominantly) Disposable income/unemployment rate (IbisWorld, OPI.com, Hoovers.com, Walmart.com)
  8. 8. What Makes OPI stand OUT Points of parity: - Convenience/location - Whimsical names Points of difference: - Salon Quality (higher income buyers) / professional - color variety (1000+ colors) - Grip handle
  9. 9. OPI’s Current Positioning Strategy
  10. 10. Current: Celebrity Endorsements -Includes Justin Bieber, Selena Gomez, Carrie Underwood, the Kardashian’s, and Modern Family who have their own line. -Each endorsement has their own “collection”
  11. 11. Consumer Market Segments SImmons, Experian, Mintel Booming with Confidence Significant Singles Flourishing Families Suburban Style Promising Families Married women peak income Women 35-65 (White collar professions) Sophisticated Taste. Enjoy the nightlife, & restaurants during week, and travel to museums, and antique shops on the weekends. Singles 35-65 years old Nightlife, robust leisure lives, Live in cities Below average income Body-conscious “Champagne Tastes on Beer Budgets” Married women with children in their 30’s-40’s. Financially stable/professional careers Prefer the ease of convenience when shopping Care about self- image. High income, and upscale lives Suburban neighborhoods 30-40’s Fashion forward who check on new styles and trends Shop online, and big box retailers for convenience. Recently married, entering workforce, & starting families. Entry-level pay, but disposable cash to lead rich leisure lives. Like to shop; stretch their money, (sales, factory outlets & clearance racks.) Outskirts of urban cities -Experian Marketing
  12. 12. Potential Target Audience (Experian, Mintel) SUBURB AN STYLE FLOURISHIN G FAMILIES SIGNIFICAN T SINGLES Top brands used by these segments: Sally Hansen 38% OPI 35% Revlon 25% Essie 21%
  13. 13. Customer Reviews -Amazon, Ulta
  14. 14. Marketing Plan: Objectives Increase revenue by 6% ($4.8 million) or, increase market share by 5%, with a goal of 25% market share. By highlighting the sophisticated value of OPI we will encourage users of other nail lacquers to switch
  15. 15. Primary Target Audience -Experian Marketing Services 35-65 years old College educated Modest income, but maintain urbane lifestyles “Champagne tastes on beer budgets” Buy new fashion every season in order to make a unique statement with their outfits. Admit that they’re price-sensitive shoppers who go to discount and mid-market retailers like Marshalls, Macy’s, Gap and Nike. Watch AMC, Oxygen, Style, BET and CNBC. Read Newspapers Magazines main source of Entertainment Self, Shape, Vogue and Vanity Fair Purchase Determinants ● Replicating salon looks ● Limited edition ● Advertisements ● Social Media ● Kits ● Celebrity endorsements ● *Women in their 50’s buy to replace a product. Significant Singles
  16. 16. Secondary Target Audience 30-40 year old married women with children from 5-25 years old. Financially stable/professional careers Prefer the ease of convenience - don’t plan many trips, even if close to a mall. Care about self-image, but also spend on children. Shop through catalogs and Websites - receptive to advertising links, email. Average fans of TV, radio, newspapers and magazines 30-40 year old women with high income, and upscale lives living in suburbs Fashion forward who check on new styles and trends. Shop online, and big box retailers for convenience. Premium TV channels like Speed, IFC, BET and TV Land. Get their news and entertainment from the Internet. Respond to email ads, sponsored Websites and links. Flourishing Families Suburban Style -Experian Marketing Services
  17. 17. Positioning Statement O.P.I is the professional nail polish that not only has a salon quality formula, but also offers it in every bottle of rich colors on the color spectrum.
  18. 18. Perceptual Map
  19. 19. Communication Objectives Using AIDA Action: Billboards will be positioned near stores to drive action to buying O.P.I products like a POP sale, and transportation offering as a reminder/ aiding in recall to buy a nail polish before you go out tonight. It will also enhance our positioning strategy by placing them in places where people go in a hurry, and will have the potential to be exposed. Desire: Social Media features on blogger’s websites will promote desire to belong to O.P.I using community, driving potential consumers towards the O.P.I brand. Interest: Magazines will generate interest by showing customers what kind of color options we provide and make consumers want to look at the ads, or go to a retailer that sells more to view more colors. Awareness: Television Advertisements will make potential consumers aware of the product and how it will take part in their daily lives, and show how stylish it is and connect with their favorite television programs. Window display in salons to raise awareness that the salons carry O.P.I. brands. We want to generate buzz by billboards as well. 5- 10% 20% 30% 50%
  20. 20. Communication Mix Broadcast Print Outdoor Promotion Television Grey’s Anatomy Castle Oxygen Network AMC Network BET Magazines Self Shape Allure Vogue Elle Glamour InStyle People Newspapers NY Times Transportation (subways, buses, taxis, airports) Billboards Urban cities CA, FL, TX, MA, NY, IL, OH, VA Sales promotions Samples in Magazines Coupons Public relations Sponsored events Earned media
  21. 21. Creative Plan: Objectives Create brand preference Method: focus on brand quality throughout TV ads and print ads. Increase exposure through billboards.
  22. 22. Big Idea This will be accomplished by showing busy women using professional nail polish, doing tasks that would cause other nail polish brands to chip, but not O.P.I.
  23. 23. Advertising Appeal and Execution Style Rational Appeal: Focusing on the qualities of the polish- sophisticated, chip-resistant, multitude of colors. Objective: Awareness Method: Repetition, and Location
  24. 24. Magazine Example 1
  25. 25. Magazine Example 2
  26. 26. Television Example Paints nails first Looks for an outfit Washes face, and puts on makeup Curls hair Drives to destination Shakes hand (emphasis on perfect nails)
  27. 27. Internet Media Examples Paid searches on Google. Banner ads on our retailers: ie Target/Big Box stores Online Shopping Advertisments Online newspaper advertising
  28. 28. Outdoor Ad Examples The outskirts of urban cities, and popular cities with dense population. PROFESSIONAL MANICURE NOW WITH O.P.I. chose any color any style
  29. 29. Promoti on Sales promotions: Coupons (Get $1.00 off of a nail polish) Samples through the magazine ads Press Releases: Earned Media targets: Get on the blogger’s lists of recommended products Haul videos
  30. 30. Media Plan: Media Objectives TV ad - Grey’s Anatomy Print Ads- per issue of Vogue Billboards- in LA Reach 30% of 9.4 Million = 2,820,000 viewers 50% of 1,002,961 readers= 501,480 viewers 18.2% of 10,017,068 people in Los Angeles= 1,823,106 viewers Frequency 4 times for the 2,820,000 viewers 1 time for the 501,480.5 viewers 3 times (3 billboards) for 1,823,106 viewers GRPs 30 * 4 = 120 GRPs 50*1= 50 GRPs 18.2*3= 54.6 GRPs
  31. 31. Media Plan Magazines: Full Page 4 color ad in every monthly issue (12X a year) $19,297,860 Full Page 4 color ad in every monthly issue (12X a year) Self, Shape, Allure, Vogue, Elle, Glamour, InStyle, People (Standard Rate & Data Service) Television 30 second commercial 7 times for each network: $8,395,310 AMC, Oxygen, Style, BET and CNBC. Outdoor Advertising Transportation (ie. subway, bus, taxi, airports): $3,024,000 ie: Albuquerque, NY 7 billboards for $1,200 each for 4 weeks. ($1,200*7) =8,400 * 12 months. x 30 locations Online Banner Advertising: Amazon.com- cost per click range ($0.45 *1,000,000 clicks) : $4,500,000. Total Budget Recommendation: $35,217,170
  32. 32. Promotional Schedule Mi
  33. 33. Bibliography Allure (2014). Consumer Magazine Advertising Source. SRDS Media Solutions database. Web. 30 Oct. 2014. "Amazon Product Ads." - Drive Traffic to Your Website with Amazon's CPC Advertising Program. N.p., n.d. Web. 30 Nov. 2014. "American FactFinder - Results." American FactFinder - Results. US Department of Agriculture, n.d. Web. 29 Nov. 2014. Bibel, Sara. "Thursday Final Ratings: 'Grey's Anatomy', 'Scandal' & 'How To Get Away With Murder' Adjusted Up & Final Football Numbers." TVbytheNumbers. N.p., 3 Oct. 2014. Web. 30 Nov. 2014. Cosmopolitan (2014). Consumer Magazine Advertising Source. SRDS Media Solutions database. Web. 30 Oct. 2014. "Coty Inc. Announces Executive Leadership Change."PR Newswire Sep 29 2014. ProQuest. Web. 9 Oct. 2014 . Coty Inc. SWOT Analysis." Coty, Inc. SWOT Analysis (2014): 1-9. Business Source Premier. Web. 12 Oct. 2014 Elle (2014). Consumer Magazine Advertising Source. SRDS Media Solutions database. Web. 30 Oct. 2014. "Essie: Nail Polish." L'Oreal Group. L'Oreal, n.d. Web. 15 Oct. 2014. Glamour (2014). Consumer Magazine Advertising Source. SRDS Media Solutions database. Web. 30 Oct. 2014.
  34. 34. Bibliography “Hair and Nail Salons in the US" IBISWorld Industry Report 81211. July 2014. Web. 2 Oct. 2014 Instyle (2014). Consumer Magazine Advertising Source. SRDS Media Solutions database. Web. 30 Oct. 2014. Mann, Rebecca. “OPI leads the way in global professional nail care boom.” Moodie Report. 2 Nov 2013. Web. 12 Oct. 2014. Major Companies (Cosmetic and Beauty Products Manufacturing)." IBISWorld US. IBISWorld, 2013. Web. 12 Oct. 2014. McCracken, Jeffrey. “Coty Said to Be Near Deal for Nail-Polish Maker OPI (Update1).” Bloomberg Business. 15 Nov. 2010. Web. 10 Oct. 2014. "Mosaic USA Group and Segment Descriptions." (n.d.): n. pag. Applied Geographic. Experian Marketing Services, 2011. Web "Nail Color and Care - US - January 2014: Brandshare- Nail Accessories and Implements." Mintel. N.p., n.d. Web. 15 Oct. 2014. "Nail Color and Care - US - January 2014: Brand Usage." Mintel. N.p., n.d. Web. 15 Oct. 2014. "Nail Color and Care - US - January 2014: Marketing Strategies." Mintel. N.p., n.d. Web. 15 Oct. 2014.
  35. 35. Bibliography "Nail Color and Care - US - January 2014: Shopping Behaviors." Mintel. N.p., n.d. Web. 15 Oct. 2014. Nicole by OPI. (n.d.). Twitter-Nicole by OPI. Retrieved October 6, 2014, from https://twitter.com/nicolebyopi “OPI Founder Schaeffer Exiting Post.” WWD: Women’s Wear Daily 206.108 (2013): 2-1. Business Source Premier. Web. 15 Oct. 2014. “OPI Products, Inc. Company Information.” Hoover’s. 2014. Web. 2 Oct. 2014 PATREON.com “Winter 2012 NHCS Adult Study 06-month.” Simmons OneView. Web. 15 Oct.2014. Poggi, Jeanine. "TV Ad Prices: Football Is Still King | Media - Advertising Age." Advertising Age Media RSS. N.p., 20 Oct. 2013. Web. 03 Nov. 2014 "Revlon, Inc. SWOT Analysis." Revlon, Inc. SWOT Analysis (2014): 1-8. Business Source Premier. Web. 12 Oct. 2014. "Revlon Products: Makeup, Fragrances, Hair Color, Nails, Beauty Tools."Revlon. N.p., n.d. Web. 12 Oct. 2014. Romanowski, Shannon. "Delayed Flight? Paint Your Nails While You Wait - 30th July 2014." Mintel Academic. Mintel Group, 30 July 2014. Web. 12 Oct. 2014. Romanowski, Shannon. “Nail Color and Care – US – January 2014.” Mintel Business Premier. Jan 2014. Web. 10 Oct. 2014
  36. 36. Bibliography "TV Ad Prices: 'Idol' No Match for Football | Media - Advertising Age." Advertising Age Media RSS. Ad Age, 21 Oct. 2012. Web. 30 Nov. 2014. Vogue (2014). Consumer Magazine Advertising Source. SRDS Media Solutions database. Web. 30 Oct. 2014. "Vogue – Media Kit Print | Condé Nast." Condé Nast. Conde Nasr, n.d. Web. 29 Nov. 2014.

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