A market is people or groups with needs or desires and the ability and willingness to buy. A group of people or groups that lack any one of these characteristics is NOT a market.
A market segment is group of people or organizations who share one or more characteristics that cause them to have similar product needs.
A marketing segment has to meet certain criteria's. Those criteria's are:
Substantiality
Indentifiability and measureability
Accessibility
Responsiveness
Gender, income status, age and race also plays a role and has to be considered. Most people who buy Sephora products are females. There are a few men who do buy Sephora products. Though the female consumers outnumber the men buy alot Sephora still remembers to reach out to the men audience. With age its also important for SEPHORA to reach out and make ads and commercials that are age appropritate because Sephora customers age vsries from the ages of 10 and up. With family income Sephora makes it a mission to make their products affordable. With all the tactics that SEPHORA does the responsiveness of the customers are always positive. Even celebrites love SEPHORA.
New products, are important to sustain growth, increase revenues and profits, and replace obsolete items.
Sephora does a good job staying on top of what should be sold and how to go about. Almost everyday new ideas are brought about in the products they create. As time goes on Sephora reveals and comes out with new products (a product new to the world, the market, the producer, the seller, or a combination of these). Sephora gets new ideas from many different places. Sephora tries to sell not only different products but they also try to come out with new colors, shades, fragrances and etc. Sephora gets their creativity and inspiration from Fashion Designers and Seasons. As time goes on trends change usually trends change by the season so Sephora makes it their mission to come out with looks and shades that go with the current trend and fashion of the season. Being the fact the society is big on trends, the way Sephora goes about there products is through yearly evolution. As evolution takes place Sephora customers remain happy and satified.
WINTER MAKEUP TRENDS:
SPRING MAKEUP TRENDS:
SUMMER MAKEUP TRENDS:
AUTUMN MAKEUP TRENDS:
Sephora debuts their new products on ther website www.sephora.com. On top of that their new products are also talked about in numerous magazines like Cosmopolitan, Essence, Allure, Glamour and of course Sephora's own magazine titled SEPHORA. You can also see the debuts of Sephora's new products on facebook at WWW.FACEBOOK.COM/SEPHORA. On their facebook page you can find alot of info. Sephora also has tabs and links on their page where you can view Offers, Reviews, Discussions andthere's a link to access there Twitter page too. With the cosmetic market on the rise Sephora continues to create and release new ideas and products.
