4P Analysis on Perfect Diary and Advice on its Future Development

Abstract

As people's living standards and demands for self-care increase, cosmetics are becoming a necessity. Perfect Diary is a cosmetics company that has risen rapidly from its inception. It has become a leader in the cosmetic industry with its effective promotion. However, Perfect Diary's reputation has declined in recent years. It once rose to prominence with short videos but now it is increasingly criticized on the internet. This paper objectively pointed out the advantages and disadvantages of Perfect Diary and used the 4P model to analyze the reasons for its fall from China's No. 1 domestic makeup brand to a loss of hundreds of millions of yuan. The main reason for the brand's decline was the low quality of its products and the emergence of a growing number of brands with a similar positioning. After careful analysis, this paper suggests that Perfect Diary should switch its position to a high-end brand to gain more profit.