TGIN’s past and current situation
Chris-Tia Donaldson, CEO of TGIN – Thank God It’s Natural, discovered a new opportunity to improve the lives of many women similar to herself. As an African-American woman, Chris-Tia has been blessed with beautiful, kinky, curly, and wavy textured hair. There was a problem, however. This hair of hers was not viewed as beautiful by everyone.
In 2002, there were hardly any products available for this type of hair, and this market was extremely underrepresented on the shelves of retailers and beauty supply stores. In fact, if stores carried any products meant for this type of hair at all, these products were often found at the back of aisles in an “ethnic” section, completely separated from products meant …show more content…
TGIN is not the only brand offering this line of products, demonstrating the need to differentiate the brand from others and find an increase in market share in this newly competitive environment.
Goal for TGIN
Here at EY, it is our goal to build a better working world for all, and we do that through supporting entrepreneurs and companies in emerging markets. Throughout this report, we will discuss our plan to help TGIN drive a sustainable competitive advantage in the natural beauty and personal care product industry.
In order to provide this competitive advantage, it is important to look at various opportunities to increase market share. By identifying things that consumers value, but are not currently being offered, executed, or advertised correctly, TGIN can drive growth of the brand. Therefore, TGIN should consider the manner in which they market to African Americans, inclusion in beauty, and the term “natural” itself.
Specific opportunities to increase market share
African Americans must be marketed to in the manner they want to be …show more content…
With more than $1.3 trillion in buying power, the opportunity is there for companies to find growth in this market (source). The problem, however, is that African Americans do not feel valued or acknowledged for their consumption behaviors, and this consumer demographic is often poorly understood and overlooked. By focusing more on heritage and Black history, African Americans will feel more inclined to purchase products from companies that take this extra effort to understand who they are as a consumer group. According to Alexis Davis Smith, the President of Black Public Relations Society in Atlanta, companies can better reach the buying power of African Americans through focusing on their culture, lifestyle, and traditions, stating, “For beauty aids and ethnic hair, for example, the African American Consumer 2013 Report points to the belief of 81% African Americans that products advertising in black media are more relevant to them. In other words, look towards spending in black newspapers, radio, online sales, and other media outlets trusted by this community” (source). Furthermore, building off of the statistic mentioned previously on the amount of African Americans who feel black media is more relevant to them, only 3% of the $75 billion spent on advertisements in _____ was specifically focused on Black audiences
Chris-Tia Donaldson, CEO of TGIN – Thank God It’s Natural, discovered a new opportunity to improve the lives of many women similar to herself. As an African-American woman, Chris-Tia has been blessed with beautiful, kinky, curly, and wavy textured hair. There was a problem, however. This hair of hers was not viewed as beautiful by everyone.
In 2002, there were hardly any products available for this type of hair, and this market was extremely underrepresented on the shelves of retailers and beauty supply stores. In fact, if stores carried any products meant for this type of hair at all, these products were often found at the back of aisles in an “ethnic” section, completely separated from products meant …show more content…
TGIN is not the only brand offering this line of products, demonstrating the need to differentiate the brand from others and find an increase in market share in this newly competitive environment.
Goal for TGIN
Here at EY, it is our goal to build a better working world for all, and we do that through supporting entrepreneurs and companies in emerging markets. Throughout this report, we will discuss our plan to help TGIN drive a sustainable competitive advantage in the natural beauty and personal care product industry.
In order to provide this competitive advantage, it is important to look at various opportunities to increase market share. By identifying things that consumers value, but are not currently being offered, executed, or advertised correctly, TGIN can drive growth of the brand. Therefore, TGIN should consider the manner in which they market to African Americans, inclusion in beauty, and the term “natural” itself.
Specific opportunities to increase market share
African Americans must be marketed to in the manner they want to be …show more content…
With more than $1.3 trillion in buying power, the opportunity is there for companies to find growth in this market (source). The problem, however, is that African Americans do not feel valued or acknowledged for their consumption behaviors, and this consumer demographic is often poorly understood and overlooked. By focusing more on heritage and Black history, African Americans will feel more inclined to purchase products from companies that take this extra effort to understand who they are as a consumer group. According to Alexis Davis Smith, the President of Black Public Relations Society in Atlanta, companies can better reach the buying power of African Americans through focusing on their culture, lifestyle, and traditions, stating, “For beauty aids and ethnic hair, for example, the African American Consumer 2013 Report points to the belief of 81% African Americans that products advertising in black media are more relevant to them. In other words, look towards spending in black newspapers, radio, online sales, and other media outlets trusted by this community” (source). Furthermore, building off of the statistic mentioned previously on the amount of African Americans who feel black media is more relevant to them, only 3% of the $75 billion spent on advertisements in _____ was specifically focused on Black audiences