Color Cosmetics, whose target market comprises only female customers, has now introduced a new range of products for the male population. It came up with new strategies and advertisements to reach the new target market. It did so to maintain a competitive advantage in the industry. Which strategy did the company apply to compete more effectively?

Question

Abby

Business

28 September, 15:58

Color Cosmetics, whose target market comprises only female customers, has now introduced a new range of products for the male population. It came up with new strategies and advertisements to reach the new target market. It did so to maintain a competitive advantage in the industry. Which strategy did the company apply to compete more effectively?

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Answers (1)

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Steve · Answer 1

Organizational change

Explanation:

An organizational change refers to a change in the previously implemented strategies, plans, procedures, up gradation to a new technology, creation of new products and services or change in the structure.

In the given case, Color Cosmetics products were earlier only targeted at a gender i. e a marketing segment. Later on, the company decided to diversify and enter male segment too by coming up with new products targeted at the segment.

This represents a case for organizational change since the company has drastically changed it's previously implemented strategy and added an altogether new segment and new products.