If you think that Smashbox Cosmetics products are only purchase for personal consumption.. guess again! Smashbox is indeed a consumer product (a product that is purchases for personal or family consumption or as a gift). They also fit into the category of business products ( a product that is used to manufacture other products, become part of another product, or aid the normal operations of an organization). Which in turn, means that Smashbox participates in business marketing ( marketing of goods and services to individuals and organizations for purposes other than personal conumption).
As you already know Smashbox sells endless amounts of cosmetic products. They have devoted customers that buy their makeup for their own use. Another factor that contributes to the companies success are the people that purchase their products for other uses. Such as a Makeup Artist may buy Smashbox products to use on their clients and/or a Designer that uses Smashbox makeup on their models for runways shows and photo shoots. Nonetheless, Smashbox products are adding to their organization or business and working as a business product.
As disgusted in previous blog posts, Smashbox values their relationships with their customers. They participate and use relationship marketing ( a strategy that entails seeking and establishing ongoing partnerships with customers). Smashbox realizes that it is an important business marketing strategy because customers have become more demanding and competition has become more intense. Of course loyal customers are more profitable so its a must to maintain a close and good relationship with them. Smashbox focuses on ways to communicate with their customers. Online at Smashbox.com they provide a 24 hour email and live chat monday-friday where a studio artist is their to answer any of your questions. This gadget gives smashbox and up and advantage over other cosmetic companies. Obviously customers are more likely to be loyal and build long-term relationships with a company that is always there to assist them. Smashbox also offers a program that rewards their loyalty which gives them lots of benefits! Smashbox created the Smashbox PRO Artist program to give professional makeup artists special members-only benefits and discounts on their products. They also receive a membership card and access to their PRO Artist newsletter that is packed with the latest trends in makeup and professional artistry.
“Business marketers form strategic alliance to strengthen operations and better compete”. That was Smashbox and Estee Lauders motive when they formed a strategic alliance (partnership) (a cooperative agreement between business firms). Estee Lauder, owner of cosmetics brands like clinique and MAC, announced a deal to add Smashbox to its dressing table.
“We are energized by the promising momentum of Smashbox and believe the brand will help attract new and younger customers to The Estee Lauder Companies all over the world,” the cosmetics grant said in a statement.
“It’s a good acquisition- it makes strategic sense,” Linda Bolton Weiser, an analyst at Caris and Cmpany.
Just as a friendship, a strategic alliance must be built on commitment and trust in order for it to succeed. The firm believes that their ongoing relationship with the other firm is extremely valuable so they warrant all their efforts to maintain the relationship (relationship commitment). When one party has confidence in an exchange partner’s reliability and integrity (trust).
“Business buyers evaluate products and suppliers against three important criteria: quality, service, and price- in that order”.
Quality- Refers to technical suitability. It is important to have superior packing because it often increases consumer acceptance of the brand. Also experienced business buyers want to deal with helpful salespeople as well as companies that are financially responsible. Smashboxs’ products are known to be extremely high in quality. Their packaging is attractive, smart, and very durable. Their brand is well-known, successful, and fruitful- so its clear that they are stable and responsible company.
Service- Satisfactory service is a must! Naturally, a purchase offers many opportunities for service. Smashbox provides amazing service. They offer free shipping and as soon as your order ships they email you your orders tracking number which allows you to constantly access the status of your order! Smashbox hopes you love their products, however, if you are not completely satisfied, you can return or exchange them within 30 days and you will be totally refunded.
Price- Business buyers want to buy at low prices... duh! Smashbox provides an assortment of prices. Although some may be on the pricer side they are well worth the extra bucks. Don’t fret, most of their products are more than affordable especially for their incredible quality.
