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The Strategy
Mirato's success is based on constant analysis and understanding of current trends in the market, and an ability to adapt to these trends by continuously developing new products to suit new and changing consumer preferences.
The market
The markets in which Mirato operates are, in fact, in constant evolution. The is the case in the market for toiletries, and it is the case in the markets for hair care and cosmetics also. The underlying cause for this evolution is a general change and development of people's lifestyles, as more and more people are paying more and more attention to themselves, their looks, and their well-being. Concurrently, there is a constant development and improvement of consumers' product awareness and understanding coupled with higher expectations to the functionality, performance, and, also, to the image of the products of their choice.In this scenario, Mirato has been able to adapt and anticipate future trends and changes in consumer preferences by identifying new and more sophisticated segments and catering for these with new and innovative products of great quality and value.
Umbrella brands
The winning formular in Mirato's strategy, moreover, has been the creation of "umbrella brands", such as Malizia and Intesa, which distinguish themselves by offering a complete range of products for personal care whilst embracing the hair care market also.
To these strong pillars of umbrella brands has been added yet another; Clinians, which consists of a complete range of cosmetic products for the treatment of the face and the body together with a complete line of sun care products. This development has been in complete coherence with the overall strategy of Mirato in terms of brand and product development.The company's determination to offer a complete solution to any demand or need for face or body care has been the motivating factor in a constant effort to develop and produce products in accordance with consumers' expectations to brand and product performance. Since any new development is taking place under one of the 'umbrella brands', the company has achieved 'economies of scale' in advertising, and, thus, has been able to achieve the optimum exposure and recognition of any one particular new product. The sheer strength of Mirato's brands in terms of market share, share of voice, distribution etc. is a key competitive advantage, which also represents an important barrier for the entry of competitors and competing products alike. The arrival of new segments in the market has spurred on product innovation, always under the "umbrella brands", and has strengthened the position and growth of Mirato.
Marketing and communication
Effective and well-orchestrated marketing plans coupled with extensive media advertising such as TV, press, radio etc. has enabled Mirato to stay ahead in the market by maintaining brand loyalty of millions of Italians.While this is said, Mirato acknowledges the importance of the support of the trade and its sales force and sales agents, and the company takes great care to offer attractive terms and incentives together with a wide range of merchandising and promotional initiatives.
The strategy for growth
Mirato Group intends to continue growing in all areas by identifying opportunities for unit and value growth in the local as well as in international markets. Constant innovation of brands and products in order to cater for still more demanding and well-informed consumers coupled with rationalization as well as acquisitions of new brands will surely pave the way for strong future growth and development.
Growth in the core business
Continuous development is the foundation of the overall strategy, which Mirato has always followed by maintaining a high degree of innovation enabling the company to differentiate and diversify continuously. The main objective is to cater for new segments in the market through the launch of high quality products under one of the 'umbrella brands', which account for the core business of Mirato. The strategy for the Italian market is, therefore, to achieve growth by acquiring brands and/or companies, which can add strength to Mirato's current growth strategy and position by providing the opportunity to enter new segments also. As far as the strategy for export markets is concerned, Mirato intends to continue growing, particularly in East Europe, the Middle East and Africa where Mirato is already present and where demand is not yet fully satisfied. This growth potential can also be exploited by entering into partnerships and/or joint-ventures.
Export strategies
Export markets represent the natural and logical place for Mirato to grow. The wide-ranging portfolio has enabled the Company to enter and take market share in more than 60 Countries in the World, primarily thanks to the high quality of the products coupled with a competitive price positioning. The strategies for entry and distribution are tailor made to the market in question with a close look at the network and capabilities of the distributor or representative for the particular market. In this way, Mirato ensures that all brands are handled in a way, which suits the markets as well as the partners around the world.
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