SUSTAINABLE INNOVATIONS, STRATEGIC MANAGEMENT, SUPPLY MANAGEMENT AND R&D ACTIVITIES IN THE COSMETICS INDUSTRY:

Abstract

Purpose – In this study, in the light of best practices and strategies of AKALIFE PHARMACEUTICALS, which develops first-class cosmetics and dermo cosmetics products and manufactures also food supplements; the research question “How cosmetics companies can sell their sustainable innovations to the customers?” has been answered.
 Design/methodology/approach – In order to answer the research question a survey was formed and the data obtained from this survey, The paper discusses what takes for a cosmetics companies to achieve sustainable accomplishments in a cosmetics industry. In this context, besides the accomplished practices of AKALIFE PHARMACEUTICALS, data was collected from 107 people by survey method by selecting three independent variables that are effective on the preferability of sustainable innovations in the cosmetics sector. The statistical analyzes of these data were completed and the findings were discussed.
 Findings – As a result of the analysis, it has been observed that the most effective primary factor on the preferability of sustainable innovations invented on the cosmetics industry by customers is R&D activities. The fact that cosmetics companies develop niche formulas that have never been applied before and produce unique cosmetic products by supplying raw materials that have not been used in any cosmetics product before, brings about them to strengthen their position in the cosmetics market and provide a strong comparative advantage over their rivals. It has been observed that the effectiveness of strategic management is almost as effective as the efficiency of supply management, although not as much as the efficiency of supply management, in the customer's preference of cosmetics products as sustainable innovations.
 Originality/value – Cosmetics industry, which is a dynamic and innovative sector that is always open to change, attracts the attention of many entrepreneurs and investors in these days. The study concludes that it is crucial for sustainable cosmetics companies to take advantage of the values of sustainability, healthy content, uniqueness and innovation in generating a prosperous corporate identity and potent brand image that customers will adhere to.