Benchmarking Advertising: M.A.C vs Kiko

Benchmarking is the development of associating a trade’s processes and presentation to its industry’s other businesses. It is a measurement of the quality of an organisations, strategies, products, policies etc, and their comparison with standard measurements or similar to those of its competitors. In the process of benchmarking, the best firms in their industry, or in another industry where similar processes exist, compare the results and processes of those studied to their own results and processes. Carrying it out this way, they learn how well the targets perform and also the business processes that explain why these firms are effective. Within the beauty sector and market, it is probably common knowledge that M.A.C maybe the current leaders. This is not only due to their high quality products, chic packaging and having make-up in every shade in the rainbow, but also their advertising and collaboration strategies. M.A.C's advertisining achieves high volumes of sales and consumers through their limited edition collections which consists of fancy packaging and shades. It is also sellable through their celebrity collaborations, also sold to be limited edition. This results in consumers wanting to get their hands on them fast ! M.A.C's celebrity collaborations have been with the likes of Sharon and Kelly Osbourne, Lady Gaga, Miley Cyrus , Rhianna, and Nicki Minaj. A strategy of best practise for Kiko would be to use this strategy of having collaborations with celebrities. This definitely has the potential to not only increase sales but to give the brand more exposure. If a well known celebrity wants to collaborat with Kiko, this encourages others to trust that the brand really is up there with the likes of M.A.C .