Consumer Buying Behavior

By Kaitlyn Reyes

Gathering Data and Observing Three Main Cycles

Every brand must be aware of where it stands in the brand life cycle. Not every brand will live throughout an entire cycle. It is crucial for the brand’s prosperity to understand where it stands and how to promote itself effectively to improve customer perception and brand equity. The three life-cycle stages that will be highlighted are development, growth, and maturity. Customer perception is relatively straightforward: it is the opinions and judgments consumers have of the brand. Brand equity is the reputation the brand holds and the weight of its name. The three brands I researched for the life cycle phases are Haus Labs, Rhode Skin, and Lululemon.

Haus Labs: Brand Development

Haus Labs is a cosmetic brand that offers vegan, cruelty-free makeup products. It was founded in 2019 by Lady Gaga. Haus Labs is still considered to be in the development stage. This is due to the limited number of product releases and launches. Haus Labs prides itself on inclusion and diversity. These efforts have created a positive consumer perception by enabling them to support a clean, inclusive brand. The inclusion of consumers of all genders and races has raised its brand equity by creating a loyal following.

Product: Makeup Products

Price: The beauty products range from $20- $50 per product

Place: Each product is available on its primary website, Sephora’s website, and in stores.

Promotion: Haus Labs uses advertisements on social media platforms.

Rhode Skin: Brand Growth

Rhode Skin, a skincare brand founded in 2022 by celebrity Hailey Rhode Bieber. The initial launch consisted solely of skin care, but has since grown. They now also produce makeup products with skin benefits. Rhode Skin is in the growth phase following its massive success, having sold the brand to E.L.F Beauty for $1 billion. Rhode collaborates with successful content creators to expand its audience. With the sale of Rhode to a respected company, Rhode holds a strong reputation and brand equity.

Product: Skincare products, Lip care products, and Makeup products

Price: It is considered an affordable luxury, ranging from $20 to $40 per product.

Place: Rhode Skin can be purchased through its primary online website. It has now collaborated with Sephora so that it can be found on its website and in physical stores.

Promotion: Rhode partners with several content creators and is primarily promoted through social media platforms.

Lululemon: Brand Maturity

Lululemon is one of the leading competitors in the athleisure wear industry. Lululemon is an excellent example of a brand within the maturity phase. It has grown from a brand that started with yoga pants into one with over 700 stores worldwide. Lululemon is a brand recognized by its logo alone. Its marketing strategy is to partner with decorated, highly followed athletes. It has a strong brand reputation and a loyal following. Lululemon has its own community.

Product: Althesuirewear, accessories, and workout classes.

Price: Lululemon is an affordable luxury brand with products ranging from $30 to over $200.

Place: Lululemon products can be purchased through its website and in its stores.

Promotion: Lululemon partners with professional athletes and athletic influencers. It uses advertisements through podcasts, social media platforms, and billboards.