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Acne Medication Market – Growth Drivers
In recent years, acne medication or acne treatment has gained a sizable market share. There is a high prevalence of acne vulgaris among people thereby leading to high demand for skincare products. Acne medication or drugs have come out with Improved features which have led to the wider acceptance of acne drugs. The innovation and development of safer acne treatment options have led to the growth of market share in recent days.
A host of factors drive the growth of the acne medication market. Some of the prominent factors include:
- Quick and early approval of skincare drugs
- People are adopting over the counter medication
- Increase in air and water pollution
- High prevalence of acne vulgaris all over the world
- Unhealthy urban lifestyle
- High focus skincare
- Increased awareness of safe mediation
- Increase in Affordability
- Higher allocation towards healthcare expenditure'
Role Of Consumer Buying Behavior
Consumer buying behavior refers to the study of customers and how they behave while deciding to buy a product that satisfies their needs. It is a study of the actions of the consumers that drive them to buy and use certain products.
Consumer buying behavior studies about various situations such as what do consumers buy, why do they buy, when do they buy, how often do consumers buy, for what reason do they buy, and much more.
For example, consumer buying behavior is studied by consumer researchers and their aim is to know why women buy moisturizers (to reduce skin problems), the most preferred brand (Olay, L’Oréal), how often do they apply it (twice a day, thrice a day), where do the women prefer to buy it (supermarkets, online) and how many times do they buy it (weekly, monthly).
Understanding consumer behavior is essential for a company to find success for its current products as well as new product launches. Every consumer has a different thought process and attitude towards buying a particular product. If a company fails to understand the reaction of a consumer towards a product, there are high chances of product failure.
Acne Brands: 5 Key Adoption Drivers Based on Customer Experience
Adoption drivers are the most important factors that offer excellent customer experience and thereby make consumers adopt a product. Customer experience plays a vital role in consumer behavior thereby affecting the demand for a product.
Customer perception is awareness or an understanding of a product or a service. Hence it becomes a key driver for the manufacturers to understand the attitude that influences consumer behavior. A manufacturer must understand the likes and dislikes of his customers to be successful in developing a brand strategy.
Through a detailed analysis of 7,068 online consumer conversations, Clootrack has listed down the top 5 adoption drivers based on customer experience that consumers consider before buying an acne treatment cream.
Below are top 5 key drivers of excellent customer experience while buying an acne treatment cream.
1. Overall effect of treatment
Consumers of acne removal creams are keen to use the cream for treating mild to high acne and are interested to get overall good results from the treatment.
Customers experience delight when the skin cream works great and reduces the amount of acne. Consumers want to ensure that they can use a small portion of the cream that can go a long way. Consumers look for affordable acne treatment creams that have high medicinal value. Skin creams that can instantly suck out oil from the face are in high demand as they prevent new acne and help to reduce the overall acne.
2. Effect on different skin types
Each person has a different skin type, and therefore it becomes more important for consumers to buy acne creams that are able to treat all kinds of skin types without leaving any scars and blemishes. Consumers prefer to have acne creams that can work even on the most sensitive acne-prone and oily skin. Consumers are most happy when the scars start to clear up after using the acne creams.
3. Moisturizing effect
Acne medications are often known to make the skin even more dry. Hence a moisturizer is a must when you are fighting breakouts. The over-dryness may trigger inflammation leading to more acne. Hence moisturizing the skin is important part of treating acne.
Consumers who use acne creams prefer that the cream moisturizes their skin well and keeps it clear. Especially when a person has a combination skin, it can be a challenge to have the right cream that moisturizes their skin.
4. Effect on pore cleaning
Acne creams that can help to unclog pores and prevent blackheads is in great demand. Pores are tiny openings in the skin that help to release oil and sweat. But when these pores are clogged, it can result in blackheads, whiteheads, and acne.\
Consumers are looking for treatments which can help improve the look and texture of the skin, and make those enlarged pores look smaller. Skin creams should come with exfoliating ingredients that keeps pores from becoming clogged.
5. Long-lasting effect
Consumers of acne creams are interested in experiencing long-lasting effects. Some medications just help in the short run, where the acne clears up but will return after a few days. Persistent and severe acne can be difficult to control and in the majority of cases need long-lasting acne treatments. Consumers need acne creams that can wipe out acne for good by offering long-lasting effects.
In this report, we have presented the relationship between different customer perception drivers in the form of a graph that can be used to sense the degree of importance that consumers attach to various factors.
Role of Brand Equity in Marketing
In recent days, brand awareness has increased and consumers are buying products that are associated with a particular brand. Hence most marketing strategies involve using the brand name in all its marketing and advertising campaigns.
It’s a two-way relationship – marketing improves brand equity, and brand equity helps marketing activities.
One of the most valuable assets for a company is something that you can’t see or touch, and won’t appear in the balance sheet – It’s the brand equity! Brand equity is very critical for the success of a company. When a company enjoys brand equity, it means that it has successfully differentiated itself from its competition by offering excellent product quality, customer service and also rolled out an attractive marketing campaign.
What is Brand Equity?
Brand equity is an indicator of the company’s strength and performance, specifically in the public markets.
In simple terms, brand equity describes brand value. Brand value is determined by consumer perception, which is a combination of knowledge and experience, towards a brand and its products. The perception that a consumer segment holds towards a brand directly results in either positive or negative effects.
Download the detailed report for free to get to know the brand names in the below chart. The detailed report also covers list of features that delight users and several other interesting insights.
Consumer Beliefs
A brand must reflect customer beliefs. When it comes to convincing consumers, the secret is to understand the consumer beliefs and their behavior. This will eventually lead you to know what a buyer wants from your business. A customer has a deep understanding of what they want from a product.
What do consumers believe in?
When it comes to acne treatment cream, customers have their own list of beliefs. They truly differentiate a highly effective acne cream that satisfies the below beliefs from the rest of the acne creams that they see in the market. These customer beliefs help acne cream manufacturers to customize the products for their customers.
1. Products have horrible customer service
According to a study, 52% of customers who’ve had a bad customer service experience with a company will stop buying their products and services.
Acne cream consumers believe that these products do not offer customer service. Acne solutions can be long term and needs continuous customer support. A poor customer service experience creates a negative impact on your business. Companies with poor customer service lose customer loyalty, return business, profits, reputation and employees in the end.
2. Benzyl Peroxide treatment is the most effective treatment for acne
Most consumers of acne treatment creams believe that benzyl peroxide can be very effective for acne. Benzyl Peroxide can be used to treat mild to moderate acne. It reduces the number of acne-causing bacteria by causing the skin to dry and peel. Consumers believe that benzyl peroxide clears the debris in their skin pores to loosen by clearing the oils and peeling the pore. It addresses the clogged pores and also keeps them from forming.
Detailed Report
Choosing an acne product that’s best for the consumers depends on many factors, including skin type, the type of acne, severity of the acne, and skincare preferences of consumers. Learn more about the must-have factors, delight drivers, indifferent factors, emerging trends, brand equity, and consumer beliefs in the detailed report. You can download the pdf version of the complete report for free. Enter your email at the end of this report and we’ll send it to you for FREE.