Sephora Fragrance Project
Date
December 2022
Role
Project Manager + Lead Analyst
Team
4 People Total
Overview
In our Marketing Analytics course, our team had the opportunity to demonstrate the marketing analytics proficiency we acquired over the course of the semester. Our project focused on conducting an in-depth analysis of the diverse attributes associated with fragrances available at Sephora beauty stores.
Utilizing extensive data encompassing the evaluations of numerous fragrances, we successfully derived the relative importance weights for three distinct attributes.
Problem
Based on our dataset, the most abundant type of product that Sephora carries online and in-store is fragrances, but while Sephora is expanding its product portfolio, they have not yet released any fragrance under its own brand name. If they were to create that new fragrance, what kind of scent, price point, and size should it have?
Plan
We chose to do a conjoint analysis to find which sizes, price points, and scent families were most popular based on the ratings from the purchasing customers through the Sephora website. We knew that this model would be best in helping us statistically understand how customers value different components of the different perfumes so that we could pitch the most favorable perfume for Sephora to launch.