Bioderma Marketing Plan on Desklib

BIODERMA MARKETING PLAN
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1. Executive Summary
Marketing plan incorporates all aspects of marketing activities which is undertaken by an
organisation. In the current analysis, Bioderma’s marketing plan for Singapore’s market has been
devised. Bioderma is a leading skincare and cosmetic brand in France; it offers its products
world over. Singapore offers a lucrative market for Bioderma; hence it aims at devising a
marketing plan for expanding its market share. The elements of marketing plan include
competition analysis, strategy formulation, product management, pricing management, branding
mix and communication plan. Bioderma is a well-known skincare and cosmetic brand. It can
easily achieve a high market share in Singapore due to the presence of several conductive
factors. Bioderma needs to continue catering to the same demographic segment that it earlier
used to cater to. Each of its product categories is well placed within the demographic segment.
Bioderma needs to expand its current distribution of products to include tie-ups with retail
distributors. It needs to make it products easily assessable in suburban locations as well.
Bioderma needs to position its beauty and skincare products by advertising with Singapore
models so that locals can relate to the products. The marketing needs to include extensive
advertising strategy for Singapore. Bioderma can be advertised as the most accepted brand in
Singapore. The social media marketing strategy need to be interactive, which attends to customer
queries, so that the psychological segment can be better targeted. The target customer segment
for Bioderma consists of women in the age group 18 years to 65 years of age. These women
belong to upper-middle and upper class. Bioderma need to overcome its only challenge of low
market share that it faces in Singapore is that of brand recall and brand recognition, through
extensive online marketing and social media promotional strategies, Bioderma can easily
overcome it.
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Table of Contents
1. Executive Summary 2
Table of Figures 3
Table of Tables 4
2. Introduction 4
3. Company & Competitor Analysis 5
3.1 Company Analysis 5
3.2.1 External Factors Analysis - PESTLE 6
3.2.2 Internal Factor Analysis- Porter’s 5 Forces of Competition 7
3.3 SWOT Analysis 9
4. Marketing Objectives & Strategy Formulation –STP 10
4.1 Segmentation based Strategy 11
4.2 Targeting 12
4.3 Positioning 12
5. Marketing Strategy Formulation – Branding & Internal Branding 14
6. Product Management 14
7. Pricing Management 15
8. Distribution Management 15
9. Integrated Marketing Communication Management 15
10. Implementation & Control 17
11.0 Conclusion 18
12. Referencing 19
13. Appendices 20
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Table of Figures
Figure 1: External Factor Analysis-PESTLE 7
Figure 2: Porter's 5 forces of Competition 8
Figure 3: Marketing STP 10
Figure 4: Segmentation of Market for Bioderma 11
Figure 5: Positioning Map of Bioderma 13
Figure 6: Integrated Marketing Communication Management 16
Table of Tables
Table 1: Bioderma SWOT Analysis 9
Table 2: Gantt Chart for Marketing Plan 20
Table 3: Budget for Marketing 21
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2. Introduction
Marketing incorporates an integral function for any organisation to position its brand and create
consumer awareness (Baker, 2016). A marketing plan allows communicating with the target
customer set and aims at meeting customer satisfaction through accomplishment of Bioderma
objectives. In the current analysis, a marketing plan for Bioderma has been developed for its
existing products in Singapore. Singapore offers one of the leading markets for cosmetics in
Asia. With high population and increasing income propensity, the market offers an ideal location
for various offshore brands (Chernev, 2018). Rising diverse population provides a socially
beneficial factor for Bioderma, as the Company will have diverse segments to offers its products.
Bioderma thus, faces competition from local as well as from foreign brands in Singapore. Some
of the foreign brands that are present in the country are Korean brand Dreamage, Sephora,
Glossier, the honey combers, Marie France and so on. Some local brands include Faux Fayc,
INGA by 27A, 13rushes, Zahara, DrGL, Reflections Organics and so on. Industry analysis of the
make-up and skincare products brands in Singapore reveals presence of tremendous competition
amongst the participants in the market. The current marketing proposal includes a detailed
product and pricing analysis, along with competitor analysis to arrive at a suitable marketing
plan for the products of Bioderma.
3. Company & Competitor Analysis
3.1 Company Analysis
Bioderma Laboratories is French pharmaceutical brand, specializing in medical and
dermatological hair, scalp and skin products. The headquarters of Bioderma is located in Aix en
Provence, France and was founded by Jean-Noel Thorel. Bioderma employs approximately 1000
employees. Bioderma specializes in biometrology lab and development of skincare research and
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development. Some of its products include ABCDerm, Atoderm, and Photoderm. Bioderma
offers at various locations in the world including Asia, Middle East, Europe, Africa and America.
The brand is well-known in the locations that it offers its products and has high acceptance
amongst its customers (Bagozzi, Rosa, Celly & Coronel, 2018). In Singapore Bioderma has a
stable market share, a marketing strategy will aim at increasing the market penetration in
Singapore. In the current marketing plan analysis Bioderma’s products in Singapore has been
taken into consideration and developed.
Bioderma is one of the most well positioned brands in Singapore. Amongst the several foreign
brands available in Singapore, Bioderma is one of the leading. However, recent surge in local
cosmetic and beauty product companies have led to deteriorating position for Bioderma in the
market. Therefore, taking into consideration the tremendous market potential in Singapore,
Bioderma needs to conduct extensive marketing activities for its various products. As
Bioderma’s position in Singapore’s market has deteriorated considerably, the brand needs to
consider extensive marketing activities for re-positioning of its brand. The below depicted
position map is prepared according to market share data found in online sources.
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