Dept of Mechanical and Biomedical Engineering Assignment Submission Page

Student/Group Name(s): Graeme Whelan Class and Year (eg 1st Biomedical Eng): Subject Code and Name: (eg ME117 CADD) Lecturer Name: Title of Assignment: Submission Deadline Submission Date:
Deduction imposed by Staff for late submission

Student(s) ID Number: 07417411 4th Mechanical Eng IE451 Kathryn Cormican 3 20/04/2012 20/04/2012

Academic Integrity and Plagiarism

Plagiarism is the act of copying, including or directly quoting from, the work of another without adequate acknowledgement. All work submitted by students for assessment purposes is accepted on the understanding that it is their own work and written in their own words except where explicitly referenced using the correct format. For example, you must NOT copy
information, ideas, portions of text, figures, designs, CAD drawings, computer programs, etc. from anywhere without giving a reference to the source. Sources include the internet, other students work, books, journal articles, etc.

You must a ensure that you have read the University Regulations relating to plagiarism, which can be found on the NUIG website: http://www.nuigalway.ie/engineering/plagiarism/

I have read and understood the University Code of Practice on plagiarism and confirm that the content of this document is my own work and has not been plagiarised. Students signature

Executive Summary
So mere children of the tender ages of 7-12 are using makeup, it sounds innocent and it was until now. Over the previous few years there has been a boom period for cosmetics aimed at children. This has become a multimillion dollar section of the cosmetics industry. As this section is in its infancy we at XXXXX can make a sizable dent in this market and become a market leader within 5 years. To become the market leader we will need to create unique products and celebrity endorsements will speed up our infiltration of the market a great deal, enticing children to pester their parents for the latest makeup that XXXXX uses, children will desire our products so much, they will save every penny they can get their hands on. With this knowledge we will need to aim between the existing product range of $2 - $8 as childrens buying power is quite low and most parents will more readily pay $5 than $15 for obvious reasons. There may be room for an exclusive product in this sector; this would be a high profit product. As we at XXXXX already have the technology and personnel In House we have the ability to move quickly towards our goal. For the mass majority of the new line very little changes will needed to be made to our existing range for adults, which will save us a great deal of testing and trials, hence money.

Recommendations
1. 2. Develop a Business Plan Purpose Force teams to make a concise statement of what their business is Open opportunity to share research resources
Why write a business plan?

The company should implement a business plan as it will give the project a much greater chance of success, as there will be a structure to the project. Attracts investors Take advantage of opportunities Evaluates feasibility of business concept Set realistic goals

 Serves as an operating guide (map and compass for future) Attracts potential business partners and key employees Attracts potential customers and suppliers Communicate more clearly

Executive summary Objective: Capture interest of investors General overview of business idea How will it work Bullet form Emphasise key issues No more than 2-3 pages Should be written last

Executive summary Include the following: Company profile Nature of the product or service offering emphasizing any competitive advantages Identify foreign/domestic markets to be targeted Size and growth trend of market Make-up and background of the management team - include individual skills Financing requirements Key projections (i.e., sales, gross profits, N.I.)

What do your customers buy? What benefits do your customers think they receive from your product/service?

Why are these people going to buy from your company? Why are these people going to buy from your company and not from the competition?

3. Regulations
Like adult cosmetics, kids makeup kits arent subject to approval by the Food and Drug Administration prior to sale, so your concern is warranted. In fact, in late 2007, the Campaign for Safe Cosmetics tested randomly purchased lipsticks and found that one-third of the products tested had lead levels higher than the FDA allows in candy. FDA however has only recalled one product for having dangerously high levels of lead, the traditional eye cosmetic kohl (also called kajal, al-kahl, or surma) used by adults and children, which has been found to contain as much as 47 percent lead. Conventional nail products contain dibutyl phthalate, toluene and formaldehydeall three ingredients are banned in the EU, and DBP and formaldehyde are listed on Californias Proposition 65 list of chemicals known to cause cancer and/or reproductive disorders. There are peel-off polishes that are water-based and contain neither the toxic trio nor synthetic FD&C dyes that are possible sources of lead. But even if they have donned these safer products - dont let your kids bite their nails, they should peel off the polish with their fingers, never their teeth. Even safer polishes contain ingredients, like acrylic polymers and polyurethane binding agents, that shouldnt be ingested.

4. Social Media

Coming challenges From a media perspective, choice leads to fragmentation, and ultimately, divided consumer attention and diminished import for a single medium. Even as social media gains popularity among the general public and marketers, there is no

accepted benchmark or measure of effectiveness, making it difficult to forecast or predict the impact of a campaign. A particular challenge for companies wanting to incorporate social media into their communications arsenal is the blurred line between private and public information, given the highly personal nature of many postings. Advertising models are still in flux, exploring boundaries of ethics, taste and transparency.

Untapped potential Social media presents a world of new possibilities. Not a better mousetrap, but a new operating DNA for interacting with consumers. It can serve as an early radar or warning system, alerting to trouble spots and yielding fresh insights. For parents, old rules still govern new media. They will need to stay engaged, enrolled and involved in their childrens lives. The motto trust but verify applies. For advertisers, old rules also are still in force. The need for transparency and trustworthiness becomes amplified on new media circuits. Ultimately, the nature of new media will prove its value, as all parties engage in an interactive, ongoing, mutually beneficial conversation. Social media is organic and ever-evolving, constantly presenting new opportunities and challenges.

Target Influencers
Influencers have more power over kids than probably any other demo. The older you get, the more you try to think for yourself. Kurnit says a common strategy is to feature kids who are just a little older than your target in ads and such. A 9-year-old is interested in what the 12-year-old is up to, Kurnit says, so you cast an 11-year-old.

Target Parents on Facebook

Though Facebook officially bars kids from joining its network, there are a few social networks out there that are specifically designed for kids including Webkinz, Club Penguin, Togetherville, Whats What and ScuttlePad, among others.

Those networks all take pains to shield children from unapproved friends and outside conversations and links, though some are more secure than others. Not all the networks accept advertising. Webkinz does, but as the company explains, most of the ads on its network are for Webkinz or other products from Ganz, Webkinzs parent company. Moreover, parents have the option of turning off other third-party ads. Given the limited opportunities for marketers looking to target kids directly on social networks, perhaps its worth taking a look at Brainchilds strategy once again. As a white paper from Facebook explains, Brainchild used a combination of Facebook ads and Like buttons integrated on its site to gain visibility on the network. Every time someone clicked on one of the ads or liked one of its products, a story was published back to all of his or her friends, creating a powerful viral effect, the paper notes. When the brand started its campaign, it had about 400,000 fans, but wanted to get to 1 million. Over the course of 33 days, the company gained 250,000 new fans at a cost-per-click of 4 cents, with ads targeting users who had liked Hello Kitty and Justin Bieber. Our objectives are usually pretty simple: to get our new products and announcements in front of the right demographic, Brainchild CEO Robert Croak is quoted as saying in the paper. Croak didnt elaborate on who that demographic is.

Conclusion

References

A Pocket Guide to Social Media and Kids http://blog.nielsen.com/nielsenwire/consumer/a-pocket-guide-to-social-media-and-kids/ Want to Market to Kids Via Social Networks? Good Luck With That http://mashable.com/2011/12/15/marketing-to-kids-tips/

How does the law define a cosmetic?

The Federal Food, Drug, and Cosmetic Act (FD&C Act) defines cosmetics by their intended use, as "articles intended to be rubbed, poured, sprinkled, or sprayed on, introduced into, or otherwise applied to the human body...for cleansing, beautifying, promoting attractiveness, or altering the appearance" [FD&C Act, sec. 201(i)]. Among the products included in this definition are skin moisturizers, perfumes, lipsticks, fingernail polishes, eye and facial makeup preparations, shampoos, permanent waves, hair colors, toothpastes, and deodorants, as well as any material intended for use as a component of a cosmetic product.