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Mary Kay Inc

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Mary Kay Inc

December 2005

List of Contents and Tables

1. INTRODUCTION 1

1.1 Key Facts 1

Summary 1 Mary Kay Inc: Key Facts 1

2. CORPORATE OVERVIEW 1

2.1 Financial Performance 1

Table 1 Mary Kay Inc.: Financial Summary 2000-2004 1

2.2 Geographic Coverage 2

Table 2 Mary Kay Inc.: Sales by Region 2000-2004 2

2.3 Business Focus 3

Table 3 Mary Kay Inc.: Sales by Division 2000-2004 3

Chart 1 Mary Kay Inc.: % Sales by Division 2004 3

3. STRATEGIC OVERVIEW 3

3.1 Operational Strategies 3

3.2 Market Development 4

Table 4 Mary Kay Inc.: World Sales Performance of Company's Major Markets 5

4. COSMETICS AND TOILETRIES BUSINESS OF MARY KAY INC 5

4.1 Cosmetics and Toiletries Business Development 5

4.2 Cosmetics and Toiletries Net Sales & Profits 6

Table 5 Mary Kay Inc: Cosmetics and Toiletries Sales 2001-2004 7

5. MARY KAY INC PERFORMANCE IN COSMETICS AND TOILETRIES 7

5.1 Competitive Context 7

5.2 Company World Market Shares 7

Table 6 Mary Kay Inc: World Cosmetics and Toiletries Shares & Rankings by Sector 2001-2004 8

5.3 Company Shares by Region and Sector 8

Table 7 Mary Kay Inc: Regional Shares of Cosmetics and Toiletries by Sector 2004 9

5.4 Marketing Strategies 10

5.5 Distribution Strategies 10

6. MARY KAY INC COSMETICS AND TOILETRIES BRAND ASSESSMENT 11

6.1 Brand Portfolio 11

6.2 New Product Development 12

6.3 Core Brands 12

Table 8 Mary Kay Inc: Mary Kay Brand Shares in Cosmetics and Toiletries 2001-2004 13

Table 9 Mary Kay Inc: Mary Kay Regional Shares by Sector 2004 14

7. MARY KAY INC COSMETICS AND TOILETRIES STRATEGIC EVALUATION 15

7.1 Mary Kay Inc Sector Potential 15

Table 10 Mary Kay Inc: World Sales Performance of Key Sectors of Involvement 2004 16

7.2 SWOT Analysis 17

7.3 Future Prospects for Cosmetics and Toiletries Business 18

8. APPENDICES 19

8.1 Appendix 1 - Mary Kay Inc Brand Portfolio 20

Summary 2 Mary Kay Inc: Cosmetics and Toiletries Brands 2004 20

8.2 Appendix 2 - Subsidiaries and Affiliates of Mary Kay Inc 20

Summary 3 Mary Kay Inc: Subsidiaries 2004 20

8.3 Appendix 3 - Websites of Mary Kay Inc 21

Summary 4 Mary Kay Inc: Websites 21

8.4 Appendix 4 - History and Corporate Development 21

Summary 5 Mary Kay Inc: Historical Development 21

MARY KAY INC

1. INTRODUCTION

1.1 Key Facts

Texas-based Mary Kay Inc is one of the leading cosmetics and toiletries companies in the world, ranked in the top 20 in 2004. The company sells more than 200 products in eight product categories: facial skin care, cosmetics, fragrances, nutritional supplements, sun protection, nail care, body care and men's skin care.

As a direct selling operator, key rivals include Avon and Alticor, with multinationals L'Orйal, Procter & Gamble and Estйe Lauder also providing fierce competition. Approximately 1.3 million direct sales consultants demonstrate Mary Kay products worldwide. Around 70% of sales are generated in the US, with the remaining sales derived from 34 other countries.

Continuing domestic market difficulties brought a period of robust growth to a halt in 2004. Mary Kay has the cachet and experience to weather the storm, although, recent activity, or inactivity, has raised doubts over its ability to maintain its position among the world's leading cosmetics and toiletries players.

Summary 1 Mary Kay Inc: Key Facts

Company name & status: Mary Kay Inc

Headquarters: USA

Sector involvement (2004): Bath and shower products, Colour cosmetics, Fragrances, Skin care, Sun care

Region involvement (2004): Eastern Europe, North America, Latin America, Asia Pacific

World ranking (2004): 18

World % share (2004): 0.99

from company reports.

2. CORPORATE OVERVIEW

2.1 Financial Performance

As a privately held company, Mary Kay releases a very limited amount of financial data. Between 2001 and 2003 net sales growth was robust, at double-digit level. However, during this period, the growth rate declined steadily, reflecting the growing pressure of rising competition, increasing raw material prices and an economic downturn

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