Examine the brand mission and vision for each brand and explain how the brand name, logo, or slogan succeeds or fails to communicate the brand identity to consumers, competitors, and various stakeholders. What does the brand who successfully positioned itself do well? How does the brand with the weak or failed positioning strategy miss the mark?
Ulta Beauty is one of the top beauty retailers in the U.S, providing both products on both the high and lower end of the spectrum. This brand has done a fantastic job in positioning itself in the beauty retail industry. It’s top competitor, Sephora, caters more toward the consumer with a bigger budget.
Ulta has done very well in creating a welcoming, calm atmosphere for all. By all I mean, all ages, gender, income level, etc. And it doesn’t just stop with the customers, Ulta is inclusive and very strategic about the brands they sell as well. Though it can create an issue for the companies and brands that they are selling under one roof, Ulta somehow manages to make it work. Another strategy that Ulta does well is making the customer experience a positive one, for every customer. My favorite part about Ulta whenever I go in to any of their locations is that you are greeted by either a makeup artist or a regular sales associate, welcoming you into the store, but they do not hover. This allows the customer to know that if they need any assistance that there is someone nearby, but you don’t get the anxious feeling of a sales person pushing certain products on you. There is a healthy balance as well when an associate is assisting you that they show you both high and lower pricing good quality products and present the best options for the consumer to decide.
A weakness that Ulta is always trying to improve on and is not completely in their control is having a constant flow of new merchandise so that it will entice loyal buyers to keep coming back. By having new products and new brands, it keeps Ulta relevant and competitive. According to Digiday “For Ulta, creating a consistent experience across categories backed by customer intel is critical: According to the company, 77 percent of its shoppers buy both prestige and mass brands” (Hilary Milnes, Digiday, 2018). With a competitive industry in beauty, the need for constant innovation is crucial. For Ulta, integrating new brands on both the high and low end of makeup and beauty is the key role to keeping up with the competition and creating that atmosphere for customers that there is always something new.
Using the brand you selected as an example, identify one or two strategies that may be applied when developing a brand name for an organization and explain how these naming strategies may help to effectively position a brand.
One of the difficulties when starting a new company and developing a brand is selecting the name. Consumers tend to gravitate towards brands that have a catchy, short, and unique name. It is easier to remember a one or two word name for a brand, rather than a sentence. Ulta started out as ‘Ulta Salon, Cosmetics, & Fragrance Inc, which is a mouth full. They consolidated their name down to Ulta Beauty, making it much more effective and catchy for the average consumer to remember. Another key part of creating a brand is getting involved in the community and/or charity that represents the brand in a positive light and reflects its core values. Ulta has gotten involved with many organizations including Dress for Success, Save the Children, Big Brothers Big Sisters, and the biggest organization they have partnered with for a long time is The Breast Cancer Research Foundation. Ulta is also very involved with the LGBTQ community and has launched a number of marketing campaigns to show that no matter the gender or sexual orientation, everyone is beautiful and Ulta is a brand that recognizes that and is a proud sponsor of individuality and inclusivity.
Overall, Ulta has done a wonderful job of creating a brand and atmosphere within the beauty world that allows a consumer to walk in to their store and have the sense of comfortability and ease when shopping for all of their beauty needs. Whether they have a large or small budget, customers can find what they need and want at Ulta Beauty.