Principles of Marketing for Clinique's New Herbal Facewash Launch in Singapore
Verified
Added on 2023/06/18
|11
|3180
|300
AI Summary
This report discusses the marketing principles for Clinique's new herbal facewash launch in Singapore. It includes micro and macro analysis, PESTEL analysis, marketing strategy, and marketing mix. The report also highlights the benefits of the new product and how it will be marketed to the target audience.
Contribute Materials
Your contribution can guide someone’s learning journey. Share your
documents today.
Principles of Marketing
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
Part 1 - Executive Summary The respective report is based on Clinique, which is a high-end brand that manufactures as well as sells skincare as well as cosmetic products. Marketing is an important thing for any organisation and may be referred to as all the sports which are used for promoting the products as well as services within the market. The specific activities include branding, advertising, marketplace studies and so forth. The organization is introducing the brand new product within the market so one can enlarge its business operations as well as gain a larger target audience. The new product, i.r., the facewash that's to be launched, could be appropriate for all skin kinds. It will make sure that the skin looks radiant and wholesome. Different social media structures could be used for creating recognition approximately the goods some of the customers within the market. Micro analysis can be described because the one-of-a-kind forces which can be probably near the organization and might affects its normal potential to serve the desires of the customers. It can be stated that micro analysis could have a direct impact on the general functioning in addition to performance of the firm to a wonderful volume. PESTEL evaluation is an crucial framework this is utilized by companies with a view to identify in addition to analyze the different external environment elements that can have a ability effect on the enterprise in addition to its operations.
Contents Part 1 - Executive Summary.....................................................................................................................2 Part 2 - INTRODUCTION.......................................................................................................................4 Part 3 - Product Background....................................................................................................................4 Part 4 – Micro Analysis.............................................................................................................................5 Part 5 – Macro Analysis – PESTEL.........................................................................................................6 Part 7 – Marketing Mix.............................................................................................................................9 Part 8 – Recommendations.....................................................................................................................10 Part 9 – CONCLUSION..........................................................................................................................10 REFERENCES........................................................................................................................................11
Part 2 - INTRODUCTION Marketing is an important aspect for any organization and can be referred to as all the activities that are used for promoting the products as well as services in the market(AI Shajrawi and Ali Khan, 2020). The different activities include branding, advertising, market research etc. It can be stated that marketing is important for any organization because it helps the company in creating awareness about its products as well as services and thus, attract a greater number of people. There are different principles of marketing that help a company to develop effective marketing strategies. it can be stated that marketing principles form the basis on which promotion strategies for products are built.Organization chosen for the respective report is Clinique, which is a manufacturer of beauty as well as skincare products. The products are usually sold in high-end stores and the company has operations across different geographic locations. The company is planning to launch a new product in Singapore, which is a new facewash made with herbal ingredients. The company is introducing the new product in the market in order to expand its business operations as well as gain a larger audience. The respective report includes a micro analysis, macro analysis, PESTEL as well as marketing strategy for the new product that is being launched. Apart from this, it will also provide marketing mix as well as appropriate recommendations to ensure that the overall launch of the new product is done in an effective manner. Part 3 - Product Background Clinique is a well-known beauty brand in the market and it is primarily known for selling high-end skincare as well as beauty products(Aldoshyna and Stryzhak, 2020). It has decided to launch a face wash that will be made from only natural as well as herbal ingredients. The facewash will provide various benefits such as skin brightening, removing any impurities from the skin etc. The product will not contain any kind of chemicals and will be free from any parabens as well as sulphates. The new product, i.e., the facewash which is to be launched, will be suitable for all skin types. It will ensure that the skin looks radiant and healthy. Different social media platforms will be used for creating awareness about the products among the customers within the market. The background of the product is that it will be developed after taking into account the different factors such as preferences as well as needs of the customers.
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
The details of the product, which is the new facewash, will have different features as already mentioned. For instance, the facewash will help in boosting the overall hydration as well as make sure that the skin is clean and fresh. Apart from this, another important detail about the new products is that it will be made with the help of natural as well as herbal ingredients that are good for the skin. People these days prefer buying products that include natural ingredients and are not harsh on the skin. Therefore, the respective face wash will ensure that the skin is clear and feels fresh. It can be said that the respective new product idea is viable because it will help the respective company, Clinique in attracting a greater number of customers and serve their needs as well as preferences in an effective manner(Bezus and Golovko, 2021). Apart from this, another reason why the new product idea is viable is that since the customers are becoming more aware about the chemicals as well as other harsh chemicals that are used for the skin, they will get an option of product that will be safe for the skin and also ensure that there is no harm caused to the skin of the customers whatsoever. Part 4 – Micro Analysis Micro analysis can be defined as the different forces that are potentially close to the company and can affects its overall ability to serve the needs of the customers. It can be said that micro analysis can have a direct impact on the overall functioning as well as performance of the firm to a great extent. The micro analysis comprises of the company, customers as well as the competitors. It can be said that micro analysis is important because it helps the company in analyzing the immediate factors that can have a direct impact on it(Koku, 2020). It is crucial for any company to analyze the different factors so that appropriate strategies can be developed. Clinique is a well-known brand that offers high quality products in skincare as well as cosmetics. One of the many strengths of the company is that it offers high quality as well as high-end products to the customers. The company provides the customers with the value of products that are free from any kind of parabens as well as other harmful chemicals that can affect the skin. Offering the customers with such products has been helpful for the company in providing the customers with the most effective as well as efficient products. but there are also certain weaknesses of them firm such as there is a need to market the products in an effective way to the customers as this will help in enhancing the overall sales of the same. On the other
hand, there is also a need to improve the current research and development of the products so as to reach to a greater number of customers. It can be stated that the company faces direct competition from brands like Revlon, Mary Kay and Neutrogena. One of the strengths of Revlon, which is a direct competitors of the brand include strong marketing of them products(Krivokuća, 2020). This is because the company conducts various campaigns and also, it also has a strong presence across social media platforms. On the other hand, the different weaknesses of the brand include the quality of the products. Apart from this, as far as the brand Neutrogena is concerned, the strength of the brand includes that the quality of them products that is offered is high. On the other hand, the weaknesses of the brand is that the products are somewhat priced high. Part 5 – Macro Analysis – PESTEL PESTEL analysis is an important framework that is used by organizations in order to identify as well as analyze the different external environment factors that can have a potential impact on the company as well as its operations. In context to the respective company, Clinique, the company has decided to launch the new product, which is a herbal facewash in Singapore. The PESTEL analysis of the same is described below – Political FactorsSingaporefollowstheparliamentary democraticsysteminwhichthePrime Minister and the President are the government and country’s head(Lim, 2021). Singapore follows the parliamentary democratic gadget wherein the Prime Minister and the President are the government and state’s head. Economic FactorsThe younger technology has the tendency to observewesternlifestyleandvalues.The citizenspaintingshardandfulfillthe materialism desire. The urge to do well has extendedkingdomproductivity.For commercial enterprise sectors can, therefore,
anticipate higher buying power from clients. Social FactorsOne of the primary reasons at the back of the changeinlifestyleandsatisfactoryof existence is the technological development. The internet performs a role in Singapore’s development. It eased conversation and will increase connectivity. The cost and time of conductingenterprisereduced(Ojhaand et.al., 2021). It additionally boosted the social networkingasresidentscouldeffortlessly connect with the rest of the world. Technological FactorsThe respective company is a technologically advancedcountry.Andthepeoplehave access to high speed internet as well asgood smartphones. Environmental FactorsOne of the primary reasons in the back of the changeinlifestyleandexceptionalof existence is the technological development. ThenetperformsaroleinSingapore’s development.Iteasedcommunicationand will growth connectivity. The value and time ofengaginginemployerdecreased.It additionally boosted the social networking as residents may want to results easily connect to the relaxation of the world. Legal FactorsThere are various legislations as well as rules that an organization has to adhere to if they want to conduct their operations smoothly. If any organization fails to comply with these, it
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
becomes difficult for them to compete as well as stay relevant in the market. OpportunitiesThreats One of them opportunities for the respective company, Clinique is that it can enhance as wellasexpanditsoperationsinother countries. Competitionaswellasalackofproper marketing technique or strategies are other threats that can have a potential impact on the overallfunctioningofthecompany. technological factors can also pose threat to the company as well as its growth. Part 6 – Marketing Strategy Segmentation – for the respective new product, the customers will be segmented based on their demographics such as age, gender as well as occupation. Thus, women in the age groups of 20-40 years, will be segmented and since the product will be priced high, the income level of the customer segment will also have to be high. Targeting – The products will be targeted towards young women who are conscious about their skin and do not prefer buying products with chemicals in them(Shilbury and et.al., 2020). This will help in enhancing the overall sales of the firm. Differentiating – the products will be differentiated based on the packaging as bright colorsthatcapturetheattentionofthecustomerswillbeused.Thiswillalsohelpin differentiating the products from the customers. Positioning – The product will be positioned in such a way that it is high end and made with all the natural ingredients. This will also ensure that there is an increase in the overall brand recognition among the customers in Singapore.
Part 7 – Marketing Mix Marketing mix is an important component for the overall growth of an organization. This is because it helps the company to attract as well as reach out to the appropriate customers’ group. the marketing mix for the company is as follows – Product -Clinique is one of the leading agencies imparting skincare, cosmetics and so on. All the goods made by way of Clinique laboratories are based on the fundamental 3 steps of cleansing, exfoliating and moisturizing. All the products synthetic are clinically tested by way of dermatologists and are synthetic as according to the requirements of hypersensitivity tested, 100% fragrance unfastened and appropriate for one-of-a-kind forms of pores and skin. Clinique started with the venture of imparting beautifying products for women however in 1976 the employer started out with men’s product line as well and have become the primary women's beauty business enterprise to introduce men’s variety. Main purpose for the success of Clinique is its adaptability to alternate as according to the desires of its customers and arising with form of products with the aid of retaining the developing trends of the marketplace. Price - As Clinique is always associated with the high-quality products, the charges of the goods are barely at the higher quit(Tokarev, Shkarovskiy and Soldatova, 2020). The strategy used is status pricing in its advertising blend. In this the customers relate satisfactory to the fee and believe that the low cost merchandise will now not be capable of provide the equal end result or provider that high fee products provide. Prestige pricing allows to create a brand cost and convinces the clients that the product affords an added cost compared to its competition. Place – Clinique have become one of the first beauty brands which furnished the online store for shopping for its customers. Clinique expected the strength of on-line media and how this can assist the logo to boom the sale. Apart from this, Clinique has continually believed in setting up bodily shops to provide the customers a sense of belongingness(Wang, Song and Lu, 2021). These bodily stores have few trained consultants who help the clients with their pores and skin associated queries. This creates a positive logo photograph and a experience of real care in patron’s thoughts. Promotion - Clinique generally indulges in conducting different sweepstakes and contests to lure more customers and promote the brand. In 2007, Clinique launched Beauty Boot Camp to
launch Clinique's Acne Solutions Clear Skin System, to help acne-prone skin. In this contest, 10000 people were awarded with 2 complete months’ supply of Acne Solutions Clear Skin System. Part 8 – Recommendations It is recommended that the company should analyze the trends within the Singaporean market as this will help it in enhancing the overall sales. Apart from this, it will also ensure that effective strategies are developed and that the plans that are made, are informed. Another thing that is recommended to the company Clinique is to focus on its marketing strategies and strengthen its online presence. This is because it will help in reaching out to as well as attracting a greater number of customers. If the company implements these recommendations, it will be abele to conduct its business operations in an effective as well as smooth manner. Part 9 – CONCLUSION From the above report, it can be concluded that marketing is an important aspect for any organization and helps it in creating awareness as well as reaching out to a greater number of customers. Whether it's miles a startup or a longtime business enterprise, PESTEL evaluation can help each enterprise owner in figuring out huge modifications in the political, monetary, social, technological, environmental, and legal elements. It enables agencies doing strategic planning to enlarge their agencies. The STP version is useful when creating advertising and marketing communications plans since it enables entrepreneurs to prioritize propositions and then develop and deliver customized and applicable messages to engage with exclusive audiences. The three- step funnel consists of market segmentation, market targeting, and product positioning.
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
REFERENCES Books & Journals AIShajrawi,A.,&AliKhan,N.(2020).InternationalMarketingintheModernEra. International Research Journal on Advanced Science Hub,2, 16-19. Aldoshyna, M. V., & Stryzhak, O. O. (2020). Relationship marketing in tourism. Bezus, R., & Golovko, L. (2021). System approach to organic producers' marketing activities based on the sustainable development concept. Koku, P. S. (2020). Effect of the Patient Protection and Affordable Care Act on for-profit hospitalsintheUSA.InternationalJournalofPharmaceuticalandHealthcare Marketing. Krivokuća,M.(2020).Socialresponsibilityintheapplicationofintegratedmarketing communication.Serbian Journal of Engineering Management,5(2), 33-41. Lim, W. M. (2021). A marketing mix typology for integrated care: the 10 Ps.Journal of Strategic Marketing,29(5), 453-469. Ojha, P. & et.al., (2021). Indian Ethos in Marketing Ethics Influencing Consumer Behavior. In Advances in Interdisciplinary Engineering(pp. 165-176). Springer, Singapore. Shilbury, D. & et.al., (2020).Strategic sport marketing. Routledge. Tokarev, B., Shkarovskiy, S., & Soldatova, N. (2020, March). Concept of Marketing Models Combining at Stages of Innovative Startup Implementation. InInstitute of Scientific Communications Conference(pp. 1687-1695). Springer, Cham. Wang, X., Song, P., & Lu, X. (2021, August). Marketing Principles of College Students’ EmploymentintheEraofBigData.InTheSixthInternationalConferenceon Information Management and Technology(pp. 1-4).