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KMID : 1145120180160030405
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Asian Journal of Beauty and Cosmetology
2018 Volume.16 No. 3 p.405 ~ p.416
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A study on the Repositioning Strategy for Competitiveness of Enterprise in Low-Cost Cosmetics Market
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Song Man-Seok
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Abstract
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Purpose: This study was performed to provide low-cost cosmetic companies with useful information to enhance their market competitiveness and decision making. We used a positioning map to demonstrate how repositioning the map strategy could enhance market competitiveness via benchmarking of a specific low-cost cosmetics brand which was relatively underestimated in the market.
Method: The data for this study were collected from March 20 to April 21, 2017. Adult women with histories of low-cost cosmetics use were recruited via convenience sampling. We distributed 300 questionnaires; 22 questionnaires with inadequate responses were excluded and 278 questionnaires were used as the final data, which were analyzed by frequency and biplot analyses using the SPSS statistical program. In addition, the analytic hierarchy process (AHP) statistical program was used to perform a pairwise comparison analysis.
Results: When the MISSHA cosmetic brand was benchmarked and repositioned, its market share increased to second highest. There was a 7.2% difference from the innisfree cosmetic brand, which occupied the first place in market competitiveness. In the current positioning, MISSHA's market share was 20.2%, but its market share after repositioning was 27.76%, which reveals that its market share increased by 7.56%.
Conclusion: The repositioning strategy for strengthening market competitiveness can act as an efficient problem solving method for allocation of restricted resources by repositioning. We were able to reposition a specific low-cost cosmetic brand through benchmarking, using evaluation factors of the market’s most competitive low-cost cosmetic brand.
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KEYWORD
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Positioning map, Repositioning map, Analytic hierarchy process, Biplot, Benchmarking
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