NAIL POLISH MINI CASE: Charles Revson, builder of the Revlon cosmetics empire, began as a manufacturer of nail polish.In order to expand the market for nail polish, he positioned nail polish as a fashion accessory, introducing new colors every year and suggesting that a woman's nail polish should match her clothing, moods, and social situations.Competing on the basis of perceived quality and greater satisfaction of women's needs for fantasy and attention, Revson understood that he was not selling women mere nail lacquer, but the fantasy that nail polish would attract attention and bestow class and glamour on the user.
-In the NAIL POLISH MINI CASE,introducing new colors every year is known as a ________ strategy.
A) planned obsolescence
B) materialistic
C) modernization
D) updating
E) market development

Question

Quizplus · Accepted Answer

Introducing new colors every year is an example of planned obsolescence strategy, which is a marketing tactic of regularly introducing new and improved products to make previous versions obsolete and encourage customers to buy the newer versions. Revson's strategy of introducing new colors every year made the previous year's colors seem outdated and encouraged customers to buy the new shades, thus creating demand and expanding the market for nail polish.

NAIL POLISH MINI CASE: Charles Revson, Builder of the Revlon