REDOLENCE PERFUME

SUBMITTED BY:
1. Faraz Zafar
2. Shahzeb Ali khan
3. Azeemullah aslam
4. Rabia Aslam
5. Nimra Siddique
6. Sumaiya Sumit
SUBMITTED TO:
Maam Sobia Shujat
CLASS: BBA-1(A)
COURSE: Principles of Marketing





Redolence Perfume Page 2

TABLE OF CONTENTS

S.NO TABLE OF CONTENTS PAGE
NO:
1. INTRODUCTION 3
2. VISION 4
3. MISSION 4
4. VALUES 4
5. BRAND PERSONALITY 4
6. SUCCESS 4
7. TARGET MARKET 5
8. SWOT ANALYSIS 5-6
9. COMPETITORS 6
10. MARKET RESEARCH 6
11. 4PS OF REDOLENCE PERFUME 6-7
12. ANSOFF MATRIX 7-8
13. LINE EXTENSION 8
14. CONCLUSION 8-9







Redolence Perfume Page 3

1. INTRODUCTION:
Redolence perfume comes in a 100ml perfume bottle and the fragrance is of refreshing citrus,
fruits, aquatic and aromatic notes. The base features notes of musk and moss, and the bottle
comes in a variety of colors. Generally perfumes are concentrated with most concentrated- 10%
to 25% fragrances and colognes the weakest, with 5% to 7% fragrances. Redolence perfume is
available in both cologne and perfume versions. Redolence comes in various makes and models
such as lime green, aquamarine blue and white versions. There are clear benefits received by
consumers from using this perfume such as to smell nice, appeal to others and cosmetic appeal.
This shows that Redolence is not just intended for just preventing body odor (for which a
deodorant would be enough) but goes beyond this to enhance the users personality. Sometimes,
as promotion, consumers are given free gifts which could be considered as extra products offer.
Customers are generally defined as those who purchase products for their own or someone
elses use, while consumers are usually people who use the good or service.
Businesses that use fragrance products such as hotels and spas would be unlikely to prefer this
type of high end branded product. Price elasticity of demand is usually defined as the sensitivity
of quantity demanded to changes in price. In this market redolence perfume seems to draw
customers which are long term and brand-loyal consumers who are generally price inelastic.
Most of the customers of Redolence are long term oriented consumers who are looking for a
Specialty limited edition that satisfies their desire for sensuality in appeal and believe that
Redolence is the only one that can provide this. These would have more inelastic demand,
because if they cant find this product they probably will not accept substitute products as their
preference is for only this perfume.


Redolence Perfume Page 4

2. VISION:
Our vision is to be a globally recognized Luxury Brand.
3. MISSION:
We exist to enrich our Customers' Lifestyles by:
Encouraging Creativity, Innovation & Continual Improvement
Adopting practices that are Ethical and Socially & Environmentally Responsible
Attracting & retaining the best Talent
Meaningful Relationships with Employees & Associates built on Trust & Respect
Maximizing Stakeholders' Interest
4. VALUES:
Excellence
Innovation
Partnership
Integrity
Open Communication
5. BRAND PERSONALITY:
Brand Personality Brand Personality is a set of Human Characteristics associated with a Brand.
Main Characteristics Associated with Redolence perfume is:
Masculinity
Individuality
Unconventionality
Young
6. SUCCESS:
All the products that Redolence perfume produced are successful because of the quality and
effective promotions. Their advertising Campaigns and promotional strategy is a benchmark. All
Redolence Perfume Page 5

the fragrances are premium and new to this genre. Campaigns like chocolate month of the year,
CLICK, Score more were a great success.
7. TARGET MARKET:
Target Audience is:
Men and Women
Generation Y: Age Group: 18 35 years old
Working and non working.
Lifestyle (Vain, Athletic, Fashionable/Trendy, Active/always )
Social Status - Upper middle class, Upper class
Psychographics The consumer likes to invest in luxury items, trend setting, confident,
fashion conscious, stylish, affluent, contemporary, rooted in their traditions but also open
minded and experimental

8. SWOT ANALYSIS:
Swot analyses of Redolence perfume are:
Strength:
1. Market Leadership
2. Affordable price.
3. Excellent advertising and branding targeting the youth.
4. Good distribution, Promotions and campaigns for luring customers.
5. Famous for creative advertisements.
Weakness:
1. Domestic market phenomenon
2. High pricing reduces the target market
3. Controversial advertising often leads to legal issues
Opportunity:
1. Coming up with Limited Edition fragrances.
2. Tie up with hotel chains and large organizations like gym chains etc.
Redolence Perfume Page 6

3. Create a new product lines, targeting female and male both customers.
Threats:
1. Copy by the competitors.
2. Emerging local players with lesser price.
3. Spray emits damages to the environment.
9. COMPETITORS:
The competitors of Redolence perfume are:
1. Boss
2. Ferrari
3. Versace
10. MARKET RESEARCH:
We conduct the market research through questionnaire, by taking interview from different
people, by providing free samples to different people and from their positive response we finally
decided to launch a unique brand which satisfies the consumer needs and gives refreshing
fragrance.
11. 4Ps OF REDOLENCE PERFUME:
4ps of redolence perfume are product, price, place, promotion,
Product:
Redolence perfume gives you the feeling to walk with a proud.
Luxury Brand for Men and Women
The perfumes are designed for both men and women
The refined oriental fragrance befits the vivacious and exuberant individual
The collection is created especially for those who aspire towards modern chic yet believe
in their traditional roots
These concoctions are rich oriental concentrates that makes an enticing choice for every
fragrance lover.
Ready to make the person feel like a celebrity, filled with pride and confidence and ready
to capture the world.


Redolence Perfume Page 7


Pricing:
High margin low turnover market
Perfumes starting from Rs 2500 / for 140 ml
Special collection range Rs 6000 Rs 25000
Place:
As currently we are operating our business online. But later on we are planning to operate our
first physical outlet in Hyperstar Dolmen City Mall.
Promotion:
We are promoting our product through free sampling and testing, and by giving special offers to
our loyal customers. We also provide sale and special loyalty cards through which consumers
can avail the discount on purchase of selected items.
12. ANSOFF MATRIX:

Redolence Perfume Page 8

This matrix suggests four alternative marketing strategies:

1. Market penetration - involves selling more established products into existing markets,
often by increased promotion or price reductions or better routes to market, for example
online.
2. Product development - involves developing new products or services and placing them
into existing markets.
3. Market development - entails taking existing products or services and selling them in
new markets.
4. Diversification - involves developing new products and putting them into new markets at
the same time. Diversification is considered the most risky strategy. This is because the
business is expanding into areas outside its core activities and experience as well as
targeting a new audience. It also has to bear the costs of new product development.

Based on the ansoff matrix Redolence Perfume falls in the Product development strategy. As
we are launching a new product and providing those in the existing market so Redolence
perfume is the product development strategy.


13. LINE EXTENSION:
This product is basically for both male and female. And we provide special products for both
genders.
14. CONCLUSION:
Scented oils, perfumes and other fragrances have been adorned by people since early civilization.
Today, fragrances can be found all around, from scented candles, to all your favorite bath and
body products. There are numerous reasons why people wear perfumes, but ultimately it boils
down to the fact that they make us feel happy. The reason we feel happy is heavily dependent on
the individual, but can range from the presence of pheromones, memories the scent invokes, a
feeling of escape, and the ability to show individuality through fragrances.
First, Pheromones are scent triggered hormones which stimulate sexual appetite. Logically this
hormone plays an important role in human sexuality and desire. Analogs of the natural human
hormone can be found in some perfumes where these scents trigger increased sexual appetite.
The list of known pheromones is growing continually. Though, most of the currently recognized
pheromones only work on men. As such, women wearing these types of perfumes instill greater
sexual desire in the men surrounding them, and in return, boosting her own self-esteem as her
feelings of being attractive and adorned grow. This, certainly, makes any woman feel happy.
However, though pheromones influence our sexuality, the results are fleeting. Therefore, their
presence in a perfume plays a secondary role to other reasons why we wear perfumes.
Redolence Perfume Page 9

Second, there is a strong connection between fragrances and memory. For instance, we may be
somewhere shopping and smell something from a nearby bakery that reminds us of something
our Mother made for us when we where little - like chocolaty brownies, or a homemade
raspberry pie. Then, we find a perfume or lotion that smells like chocolate and raspberries and
instantly feel at home with that fragrance. The same goes for hundreds of other scents out there
that connects us with warm, positive memories - such as the smell of a husband's or boyfriend's
cologne on their sweater, the smell of particular holidays, the smell of rain or snow, and so on.
Connecting ourselves to these memories through easily obtainable fragrances makes us happy.
Third, we all need escape. Whether we're tired Mom's, teenagers, Grandmother's, working
Mothers, or stressed Husbands, we all need a place of escape and that escape is often found in a
bath, shower, or massage with the use of fragrances. Therapeutic or not, fragrances can take us to
a place of calm and serenity. They can rejuvenate our minds and energize our senses. When we
surround ourselves with a fragrance we like, we are in essence, placing ourselves in a protective
bubble that minimizes the stress of everyday. We are instantly comfortable.
Lastly, and maybe even the biggest reason we wear fragrances, is to show off our individuality.
With so many fragrances to choose from out there a person can truly be original in what they
decide to fragrance themselves with. They can change the way they smell to match their mood,
the occasion, or anything they like. One day they can smell like pomegranate and the next day, as
their preference changes, they can smell like roses and musk. The ability to have this kind of
individuality through scent directly influences our confidence and self-esteem.

Different scents evoke different memories, and this can be an important part of human behavior.
A lot of us breathe happily when we smell something that reminds us of a beloved relative,
friend, or spouse. When someone wears a perfume frequently, their friends and family begin to
associate that scent with their loved ones. As with designer clothes or expensive cars, a high-
quality perfume or cologne can also aid in sending a message of wealth and importance to others.
Timeless scents such as our product Redolence Perfume are known to be classic yet costly, and
can signal to others an air of prestige.
Besides the fact that our scent can aid us in attracting potential mates and being well-liked by
others, perfume and cologne are ultimately just very enjoyable. It is nice to have fun with your
fragrance, and keep experimenting until you find a scent that is perfectly suited to your
personality and lifestyle.