Enhancement of the New Product Launch Processes on the Cosmetics Market

In this work, the approaches to enhancing the new product launch processes on the cosmetics market have been reviewed. Estee Lauder Companies is considered to be one of the leading companies in the sector and has been chosen as a focus company for the research. The main goal of the work is to identify the methods for improving the new product launch processes that can be used in the focus company, as well as to further evaluate the effectiveness of the approaches proposed. In order to achieve this goal, an array of objectives has been set: the company's market position analysis, resulting in the problem areas identification; literature review and best cases analysis related to the enhancement of the new product launch processes on the focus market; identification of possible approaches that could be beneficial for the focus company’s case; enhancement of the company’s new product launch processes and evaluation of the changes in the business processes as well as the organizational structure; economic efficiency of the proposed solutions analysis. Based of the research, a number of recommendations has been proposed, such as: re-evaluation of the supplier involvement in the new product development and launch processes; introduction of the regional launches; changes in the organizational structure of the company, including the new positions of the launch coordinators introduction. The outcome of the work is the change of the new product development and launch processes in the focus company, the efficiency of which can be evaluated economically through the growth of the company’s profitability and the return on equity of Estee Lauder Companies.