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Multifunctional Professional Beauty Products

A Swiss Army Knife in a Tube – Multifunctional Professional Beauty Products

Multifunctionality has its beauty. The consumer has demanded versatility, and beauty product marketers are responding. Borne out of both an economic impetus with consumers seeking to reduce their expenditure and the simple pragmatism of retailers optimizing finite shelf-space by rationalizing their inventory, the market’s embracing of mass non-professional branded multifunctional beauty products is attracting a growing number of professional brands keen to remain competitive.

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Ownable Space: "The Other White Space"

Ownable Space: “The Other White Space”

Ownable space centers on a company’s right to win in a given market, grounded in “heritage” competencies or competencies you purposely go after. There are three basic approaches that can be utilized to identify your ownable space opportunities:

Claim your ownable space: going after unmet customer needs or market areas that are underserved, using your right to win as the competitive lever
Create your ownable space: use your competencies to drive and build market opportunities in a way that uniquely leverages your core strengths
Capture your ownable space: stretch and extend the limits of your capabilities to take market share away from competitors
Some of the best success stories today are of companies that are aggressively pursuing ownable ways to grow their businesses in markets characterized by intense competition, if not spirited rivalries. For example:

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