Executive Summary
Chanel No.5 is one of the most popular perfume products on the market. The Chanel N5 has a constant mission to accomplish in satisfying it customers as well as the laws. It is crucial to keep a reasonable price and maintain high quality of the perfume product. Correspondingly, whenever the cost of the product decreases, it means the quality of the product lessens, and luxury product becomes ordinary. "The word perfume derives from the Latin perfumare, meaning to smoke through. Perfume is a mixture of fragrant essential oils or aroma compounds, fixatives and solvents used to give the human body a pleasant scent “(Wikipedia). Chanel N5 is one of the most popular out of the company perfumes. It dominates the market since …show more content…

Natural perfumes may also cost much more than synthetic ones that can make it a real luxury product. It would draw attention of consumers willing to use products that have less damaging effect on their health and environment.
Technological environment
Technology plays an important role in the perfume industry. The influence of technological factors is known for the new advanced features of the products, along with a remarkable growth of social media and internet which are related to most effective marketing tools. Some buyers will buy perfume products for special occasions, like Christmas or birthdays.

Product Attributes
The fragrance product, Chanel N5, is sophisticated, basic, contemporary, and classic. It serves as very fashionable and is mainly purchased by upper socioeconomic channel of customers who appreciate luxury items. The social and ethical factors play an important role in the perfume industry.
SWOTT
“The design of the Chanel No 5 bottle represents timeless classic.” “The crystal bottle, the amber liquid became the focal point of the product's design. The clean-cut vessel and rectangular shape and rounded shoulders were a contrast to the ornate art deco-style bottles of the early 1900s” (1). Chanel’s logo of two Cs put together became one of the most recognized labels in the world. In order to accomplish successful business and increase sales of the perfume product, the company has to identify its the strengths, weaknesses, opportunities, and