Mission Statement
“Delivering high quality solutions to resolve problems which result from today’s hectic lifestyle.”
Markets: Cosmeceuticals
Company Name: Lexander Limited
Period: 2001 - 2008
Solving the problems of a hectic lifestyle
Lexander Limited recognised that the development of its own branded products would offer the company several new commercial benefits including control (both technical and market) over its own projects, higher profitability and diversification.
Commercial Opportunity
Lexander Limited undertook market research into several markets and identified a major opportunity in the nutraceutical / cosmeceutical markets. Demand was apparent for products designed around the modern hectic lifestyle combining functional ingredients, fashion and style to deliver fast and effective results.
Market
The target market for the new range of “lifestyle” products was primarily style conscious females, with a sociable lifestyle aged 18 to 35.
Lexander Limited
Lexander Limited was formed in 2001, to produce a range of natural bioremediation products for a wide range of applications in both industrial and leisure environments and to develop new technologies to position the company at the forefront of the bioremediation industry.
SMART Objectives
Successfully launch an innovative, branded range of lifestyle products during 2008
1.
Develop a network of sales agents and stockists initially within selected geographical regions by May 2008 with full UK and ROI roll out commencing October 2008
2.
Prepare plans for launching the products within other European countries including Germany and France
3.
Management
To build a highly professional management team, with experience of export marketing, capable of developing the Lexander Limited lifestyle product range into a global brand.
Funding
Lexander Limited had the primary technology to enter this market and proposed to develop its own brand and range of products, in part funded by its contract services business.
R&D
An extensive programme of market research was undertaken including desk research, trade surveys and both qualitative and quantitative consumer research.
Analysis of the data revealed a strong market opportunity for a premium range of well-being, nutraceutical products and clarified the target demographics.
Manufacture
Manufacturing and packaging were handled through Lexander Limited’s contract manufacture and packaging services division.
Brand specialists were commissioned to create concepts and visual stimulus materials for the consumer research programme.
New Product Development (NPD)
Now with proven and powerful business and quality management systems in place, Lexander Limited could efficiently and effectively undertake new product development (NPD) through a very robust programme.
Formulation and manufacturing criteria were developed in-house.
A leading integrated marketing agency was appointed for brand development.
Products, packaging concepts and messaging were thoroughly researched with focus groups and testing panels conducted by consumer research specialists.
Success
Prior to launch a client, a significant Irish cosmetic company, bought the product range for inclusion in its own portfolio.