Convincing Features
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Facial Serum Market Size by Type (Anti-Aging Serums, Skin Brightening Serums, Acne Fighting Serums, Hydrating Face Serums, Exfoliating Face Serums and Others), Form (Oil based, Gel based, Water based and Others), Distribution Channel (Online and Offline), Regions, Global Industry
Analysis, Share, Growth, Trends, and Forecast 2024 to 2033
The global Facial Serum market was valued at USD 5.49 billion in 2023 and is growing at a CAGR of 6.6% from 2024 to 2033. The market is expected to reach USD 10.39 billion by 2033. This growth is attributed to the surge in
awareness among people about beauty products. Constant lifestyle changes, along with the growing standard of living, are some of the factors driving the market. There is also an increase in the cosmetic sector in developed
and developing countries and a growing preference for vegan and plant-based ingredients used in beauty products. Moreover, introducing several new products with natural ingredients and inventive packaging is anticipated to provide new opportunities. These are some of the factors driving the growth of the Facial Serum market.
Market Introduction:
Face serum can be said to be the solution for the skin. Skin is considered a crucial organ as it protects the body from all sorts of external elements throughout life. However, skin maintenance is rarely done. Face serums can
be used to cure and take care of skin. It helps in nourishing the skin and offers in-depth hydration. The serum is a lightweight cosmetic with many concentrated active ingredients. Water-based formula can penetrate deeper
into the skin and offer instant nourishment. Its work is different from that of moisturizer and face oil. Its regular use helps brighten the skin and skin tone and blocks pollutants. It helps in detoxifying the skin. It firms up and
clears the skin. It helps in fading the acne scars. Both men and women can use face serums to get their advantages. Face serum is a skincare product applied to the skin after cleansing. It is made of smaller molecules which can easily go deep into the skin and provide a high concentration of active ingredients. Hence, it can be used for many skincare concerns, such as wrinkles etc. Consumers have become more aware of the need for preventive skincare and proactive steps against ageing. Face serums can address acne, dark circles,
hyperpigmentation, and age spots. Hence, its demand is growing due to several skin concerns and demographics.
Moreover, there is a surge in the number of consumers aware of synthetic ingredients’ harmful effects and thus are looking for serums formulated with natural and organic ingredients. Also, people’s spending power has
increased, especially in emerging economies, making consumers invest in premium skincare products like facial serums. Face serum has high moisturizing properties, substantially higher than most cosmetics used to humidify the face. Thus, the high moisturizing property of the face serum is drawing several customers to use it and prefer serum instead of several other cosmetic products. The leading players in this market focus on providing effective solutions that address many skincare issues like skin lightening, acne, ageing, and wrinkles. Face serums are becoming popular among the global population, especially among the middle-aged population who like to
maintain their youthful appearance using the face serum. The surge in the men’s grooming sector has led to an increase in the adoption of face serum. All these factors drive the Facial Serum market.
You are required to prepare a Marketing Plan for Make With Luv, a new local company that only produces natural and organic face serum product named Gunina, that does not contain paraben nor sulphates. The objective of the project is to test student’s ability in applying marketing concepts and tools learned in class into the actual business situation. Based on this objective your Marketing Plan should cover:
(1) an introduction of the company business,
(2) products or services,
(3) brand equity,
(4) market analysis,
(5) marketing strategy and (5) implementation.
1. Introduction of the Company Business
Make With Luv is a newly established local company dedicated to producing high-quality, natural, and organic skincare products. The company’s flagship product, Gunina, is an organic face serum formulated without
parabens or sulfates, catering to the growing demand for clean beauty products. Make With Luv aims to promote healthy skin through sustainable practices and transparency in ingredient sourcing, appealing to environmentally conscious consumers.
2. Products or Services
Gunina is designed as a premium face serum that targets various skin concerns such as hydration, anti-aging, and skin tone improvement. Key features of Gunina include:
o Natural Ingredients: Formulated with plant-based extracts and oils to nourish and rejuvenate the skin.
o Free from Harmful Chemicals: No parabens, sulfates, or synthetic fragrances, ensuring safety for all skin types.
o Eco-Friendly Packaging: Utilizes recyclable materials to minimize environmental impact.
3. Brand Equity
The brand equity of Gunina will be built on the following pillars:
o Quality: Commitment to high-quality, effective formulations that deliver visible results.
o Trust: Transparency in ingredient sourcing and production processes to foster consumer trust.
o Community Engagement: Building a loyal customer base through active engagement on social media platforms and community events.
4. Market Analysis
The skincare market is experiencing significant growth, driven by increasing consumer awareness of ingredient safety and demand for natural products. Key factors in the market analysis include:
o Target Audience: Health-conscious individuals aged 18-45 who prioritize natural ingredients in their skincare routine.
o Competitor Landscape: Established brands like The Ordinary and CeraVe dominate the market; however, there is a niche for local brands offering organic alternatives. o Trends: A rising trend towards sustainability and clean beauty provides an opportunity for Gunina to
position itself effectively within this growing segment.
5. Marketing Strategy
To successfully launch Gunina, the marketing strategy will focus on the following components:
o Positioning Gunina as a premium organic face serum that combines effectiveness with ethical practices and a variety of promotions.
6. Implementation
The implementation plan will involve:
o Timeline: Launching and pre-launch activities.
o Budget Allocation: Allocate funds for product development, marketing campaigns.
o Monitoring & Evaluation: Establish KPIs to assess the effectiveness of marketing efforts.
This comprehensive marketing plan aims to establish Make With Luv’s Gunina as a trusted name in the organic skincare market while leveraging sustainable practices that resonate with today’s consumers.
Questions
Answer the following questions:
Critically assess the strengths and weaknesses of Gunina and Make With Luv, considering how external factors such as political, legal, economic, social, and technological influences impact the business. Please include relevant examples and data to support your analysis.
This section should cover an introduction of the company business, products or services, brand equity and market analysis (SWOT, Positioning map, PESTLE, market competitiveness strategies).
[40 marks]
Using the insights gained from the analysis in Question 1, outline appropriate marketing strategies for Gunina’s product launch across the following periods: Q3 2025, Q4 2025 and Q1 2026. Provide justifications for each strategy.
[20 marks]
Given that the company is new and relatively small, the budget for 2025 is limited. Develop a detailed implementation marketing plan for your proposed strategies. Additionally, identify potential challenges that
may arise during the implementation process.
[40 marks]
• Word count: The word length is 4000 words, excluding table of contents and references but including tables and figures. State the word count in the last page before the References page. • Formatting: The assignment must be submitted as a Word Document. The settings of the Word document include: A4 portrait size paper with 1 inch page margins in Times New Roman 12 with 1.5 line spacing in justified format.
• Cover page: Students must attach an assignment cover page with their name, student ID, subject code and title, and the deadline for the assignment.
• Referencing style: Use APA 7th referencing style. No footnotes. Try to present your tables and figures (together with labels and references) in the actual report for easy reading, not in the appendices.
• After submitting your assessment on Moodle, ensure that your Turnitin similarity index is no more than 20%. A higher score will be flagged for plagiarism. If it is higher than 20%, you may delete your submission (before the due date) and resubmit another copy of your assessment.
Your assessment will be marked using the rubric below.
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