Golden Apple Business Model Analysis The session focuses on the business model of Golden Apple, a leading retail chain in online and offline sales. The presentation is titled 'Lipstick Effect,' an economic phenomenon where people buy small luxury items during tough times for comfort.
Understanding the Lipstick Effect During the Great Depression, despite financial hardships, lipstick sales increased as women indulged in small pleasures to lift their spirits. This behavior was termed the 'lipstick effect' and highlights how certain products symbolize emotional upliftment.
Strategic Thinking Through Historical Contexts 'Lipstick effect' exemplifies strategic thinking by understanding historical consumer behaviors. Businesses must delve into anthropological reasons behind product popularity to create effective strategies that resonate with deep-seated human emotions.
'Pomade': A Cultural Phenomenon from Ancient Times 'Pomade,' derived from French word ‘pomme’ (apple), has ancient roots dating back 5,000 years when Nefertiti used natural dyes for lip color. Cardinal Richelieu popularized it using apple juice-infused balm for its aroma-therapeutic effects.