The Relationship of Lipstick Effect With Sustainable Management Processes of Business: A Qualitative Research on Cosmetics Industry Executives
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Tarih
2022
Yazarlar
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
Doğuş Üniversitesi
Erişim Hakkı
Özet
Periods of economic recession unsettles businesses all over the world. Excluding no sector or commercial discipline, businesses develop strategies to be prepared for situations such as economic recession and economic crisis. In this context, it is observed that businesses in some sectors (cosmetics, beauty centres, personal care products/services) are more fortunate than others. It is also observed that the concept of “Lipstick Effect” is significant in these sectors deemed as privileged. First, it is essential to understand the advantages of the lipstick effect in terms of marketers and to determine the strategies to be developed in terms of management. The aim of the study is to reveal the advantage of the lipstick effect when developing the strategies of the businesses in the cosmetics sector during the crisis or recession periods. In the study, semi-structured interviews were conducted with 7 general managers in the cosmetics industry to reveal the relationship between the lipstick effect and economic recession, and it is concluded that customers under the lipstick effect have a mitigating effect during the difficult periods (economic crisis, recession, etc.) of businesses.
Açıklama
Anahtar Kelimeler
Lipstick Effect, Economic Recession, Consumer Purchasing Behaviour, Sustainable Management
