Elizabeth Arden Case Study

Introduction of company

Miss Elizabeth Arden , a tireless entrepreneur and a legendary innovator had established the American beauty industry a century ago. She was born in Florence Nightingale Graham. She had traveled from rural Canada to New York City , where she opened the first Red Door salon on Fifth Avenue in 1910.

Moreover , the oldest around brand of Elizabeth Arden are skincare , cosmetics and fragrance. Miss Elizabeth Arden grew her company at an impressive rate and became one of the wealthiest women in the world. Now , Elizabeth Arden products are sold in more than a hundred countries over 100 years after its conception. The company was estimated to be worth $1.3bn at the last count.

Furthermore , Miss Arden was uncompromising in

Normal goods are any goods for which an increase in income usually leads to an increase in demand and vice versa , but price of the goods remain unchanged. While inferior goods are some goods exist for which rising or falling income leads to reduced or increased demand. Luxury goods are products which are not necessary but tend to make life more pleasant for the consumer. It is typically more costly and are often bought by individuals that have a higher disposable income or greater accumulated wealth than the average. Elizabeth Arden CO series are categorized in normal goods. This is because when the individual’s income increase , they tend to buy more on this fragrances products. As income rises , consumers will buy their preferable brand which is normal good and decrease their demand for the inferior good. The income of the consumers will affect the demand of fragrances. When the income of the consumers are increase , the purchasing power of the consumer will increase as well. Thus , consumer will demand more in Elizabeth Arden. This indicates that the income of the consumers will affect the demand of Elizabeth Arden