Goals & Objectives Report

Organizational Goals
This report is prepared based on Biotherm Men. In 1970, L’Oreal acquired Biotherm as their luxury product market segment. Being in the luxury skin care industry, it is challenging to maintain market share amongst other namely brand competitors. Hence, this project’s major goal is to strengthen Biotherm in terms of increasing market share in the Australian market. To achieve our goals, our objective is to increase the awareness of our product and reposition Biotherm to assure that consumers know that Biotherm has the best quality products amongst its substitutes. Biotherm Men was the pioneer of the men’s skin care industry and it proclaims to men’s needs and satisfies them (Blanchin, A, 23rd May). Hence, this project will later focus on the sub-brand, Biotherm Men to achieve the goals. We believe that an increased share in Biotherm Men will increase the market share in Biotherm itself. The reason that we choose Biotherm Men over the other’s line is because the statistics stated that the market for skin care in Australia increased between 2001-2006, growing at an average annual rate of 1.2% and there is a potential opportunity for men’s cosmetic market since it is relatively new and growing (King, 2011). The fact that men’s skin is different to a women’s has created a demand for men’s skin treatment. Hill states, “In the past 7 years, there has been an 800 % growth in the sales of male toiletries, but the market is still 15 years behind the female market, so the potential for future growth is definitely huge”. Although men tend to be more ignorant towards skin care treatment when compared to women hence it might be harder to target their segment, however, men tend to be more loyal once they adapt to a certain product (Hill, 2008). Moreover, Biotherm’s has established a good market share in other countries