My marketing consulting/product development firm reviews hundreds of prospective consumer products from every category imaginable, each and every year. Sporting goods, specialty foodstuffs, auto accessories, juvenile products, toys, games, shoes, jewelry, willing to wear and health and wellness products are only a short number of types of items we review for funding and market launch potential. I am often asked is there a space most easily penetrated by entrepreneurs?
This invariable pops up just about every time I lecture with a university or am interviewed by media. I once was a little arbitrary, almost opaque in answering. However, throughout the years what you need comes into sharp focus. The sweetness product industry needs to be towards the top of any listing of entrepreneurial sweet spots for successfully launching and growing a start-up business.
Since Biblical times perfumery is really a highly desired artisan industry. Local plant life and animals have been compounded into scents and potions that add Itamar Serpa Fernandes
to the body system, the atmosphere and religious worship. Cleopatra was famous on her fragrant baths, the Bible is loaded with references to sacred fragrant oils and these days the fragrance industry has matured into a major international, multi-billion dollar business.
And yet, each and every year, inspired entrepreneurs bring new scents to advertise. Aromatherapy has boomed as being the science and knowledge of the mental and wellness great things about specific aromas continues to be researched. The procedure of setting up a completely new scent, packaging, branding and delivering the customer something that gives an alternative fragrance perspective has never been easier.
Among the great entrepreneurial commercial success stories in the background of the perfume industry was the storyplot of Giorgio. The eponymous fragrance was given birth to within a single Rodeo Drive boutique, Giorgio's, in Beverly Hills inside the 1980's. The scent, an obvious break with popular fragrances of times, was overwhelmingly powerful. The distinctive top note made the boutique a destination for shoppers as word of mouth travelled quickly concerning the unique warmth of the dried down fragrance notes of Giorgio.
The Organization was without the desired funds to launch nationally with major department stores. The owners decided to do some guerrilla marketing. They started to place scent strips impregnated with the Giorgio scent within local magazines targeting high-end consumers. The power of the scent leached from your magazines and newsstands became fragrance cocoons for the Company. Mail order sales exploded, the campaign was quickly expanded to national women's fashion magazines plus a direct mail business was setup solely to meet consumer demand.
Soon the most important department shops were falling everywhere on themselves to stock and promote the Giorgio line. The Business surely could negotiate from a position of real strength and demanded, and received, prime space and site in every store that carried the company. Sales exploded, the product became a worldwide sensation, an important item in duty free shops and consequently was bought by consumer product kingpin Procter & Gamble.
Giorgio is definitely an extreme instance of commercial success. Nevertheless, if an individual would examine typically the most popular fragrance, skin care, color cosmetic, bath and the body lines and cosmetic accessories lines bought from various classes of trade (mall, mass merchant, pharmacy, etc.) from 1950, 1970, 1990 and 2009, the researcher would be surprised by the churning of brands that rose and fell.
Hazel Bishop was one of the more popular cosmetic brands of your 1950's. Rose Milk had been a incredibly popular body care product of your 1970's. Indian Earth was the taste du jour of beauty products within the 1980's. Chen Yu was the first classic nail care line after The Second World War. Francis Denny, Germaine Monteil, Imperial Formula and Alexandra de Markoff were popular specialty store skin treatment brands. All were founded by entrepreneurs, enjoyed widespread distribution, commercial success, fell from grace, and were replaced by way of a newer generation of entrepreneurial products.
The wonder indu