Reading this chapter has truly opened my eyes to understanding the fundamental needs for a successful business. Estee Lauder bought a percentage of M.A.C., which then led to them buying the rest of it. Estee Lauder brought M.A.C. to a very successful position globally. The market developing of this companion has spread very quickly and efficiently. In my opinion the union of these two companies can be what in this chapter they call a strategic business unit; Two cosmetic companies with a vision to serve all ages, races, and sexes. In addition, M.AC. has been very efficient with their product development. They are making mini items for traveling purposes and for affordability. Not only is M.A.C. Improving with current product, but have had a diversification by including nail polish and the ability to make up your own product online. It is ideal to be able to get exactly what you want for both the customer's advantage and companies
On the other hand, all
of these advantages we have as consumers are not as easy as we think them out
to be. Also on their part it has not been easy to gain the name they have today
as a leading cosmetic line. To achieve being a successful business it required
great work and dedication. As athletes work hard to maintain an athletic body
with a high stamina, so do successful companies. However, M.A.C. does it by
having an important element called a marketing plan. This is not a set plan; it
changes with every company according to what their mission is. Hence, this plan
will only work as good as the effort that was put into it. Leonardo Lauder CEO
of Estee Lauder and owner of M.A.C. has
been successful in knowing what their mission is as a cosmetic company.
Leonardo is so aware on the success of coming forth with an efficient product,
which not only manufactures a product with quality but even has a sleek
packaging. Having known this, he feels no need to have any kind of discount
needed. All of these things are important when marketing a product. Also,
M.A.C. owners are not just aware of the competitive advantage but of the how
they have sustained it with the theatre inspired cosmetics. Cosmetics that
facilitate consumers with a sort of individuality and self-expression. Aside
from all the glamour, CEO Leonardo has made sure to have staff implementing the
marketing plan to meet goals. Also, having evaluations being done, to make sure
the plan is working and how it can be better. They also maintain their product promotion
by sending free products to bloggers and makeup artist.
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