Market Research Agency | The Market Researchers

Lypsyl

How we helped a brand expand in international markets

Objectives

personal care market research
To understand the global lipcare market, key trends, and also competitor strengths and weaknesses, This was in order to provide direction for Lypsyl brand development and international expansion (via secondary research).

Personal care market research approach

  1. Review of internal information.
  2. Management team interviews to gather initial insights and discuss issues and also opportunities.
  3. Review of secondary research sources; libraries, the Internet, retail trade, and also companies websites etc.
  4. Creation of spreadsheet model to analyse and prioritise around 100 international market opportunities. This also involved innovative data smoothing techniques.
  5. Analysis followed finally by a debrief and working session.

Results:

Provided comprehensive understanding on international lipcare markets, and global competitors. Thus helping prioritise market entry opportunities and provide ‘insights’ and recommendations to develop the Lypsyl brand. Insights provided in the form of ‘platforms’ to inspire product development. Lypsyl has since been relaunched and successfully expanded into new countries.

More about Lypsyl Lip Balms.

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