Summary
Highlights
The meeting starts with a discussion about expanding the product market internationally, particularly focusing on European countries like the UK, due to the popularity of tan skin there. The team notes that Asian markets might not be suitable as people in those regions prefer white skin due to cultural beliefs.
The current market target is 30-40 year olds, but the team suggests expanding to a younger demographic, specifically 17-22 year olds. They recognize that tan skin is becoming more attractive to this age group.
To attract younger customers, the team proposes making products more affordable by selling them in mass markets at different price points (low, middle, high). They also suggest introducing smaller product sizes so customers can try them before committing to a larger purchase.
The discussion moves to selecting new brand ambassadors for the international market. Suggestions include celebrities with tan skin and a large following among teenagers, such as Rihanna, Kylie Jenner, and a male ambassador like Efrain. The final decision on ambassadors is deferred to the next meeting.
For promotional strategies, the team proposes offering free sample products and a 20% discount to new customers. While samples are agreed upon, the 20% discount is debated due to potential costs to the company.
The meeting concludes with a summary of decisions: expanding to the US, England, Germany, Australia, and the Philippines; targeting teenagers; offering premium products in the mass market at lower prices; and providing product samples and vouchers as promotions. The selection of new ambassadors will be finalized in the next meeting.