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Marketing Activities for New Hair Care Product

   

Added on  2020-06-04

11 Pages3628 Words66 Views
Describe and analyse marketingactivities of a New hair care product

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1Description of the new product....................................................................................................1Analysis of the market for this product.......................................................................................1Strategy for the segmentation, targeting and positioning of the product.....................................3Marketing Mix for this product...................................................................................................4CONCLUSION................................................................................................................................6REFERENCES................................................................................................................................7

INTRODUCTIONIn this modern era people are know very conscious towards their health and prefer tomake sure that appropriate care is carried for themselves. As per the increasing need in thisaspects, there are many companies that regularly innovate so that people can be satisfied and thisis done by focusing on products that can make them protected (Yeon Kim and Chung, 2011).Main focus of this assignment is made on Sisley Paris which has developed a new product forhair named Hair Rituel. This report covers description of the new product. Further, it covers theanalysis of the market for this product. Lastly, it also covers the marketing mix for this product. Description of the new productThe product is focused on natural way that was applied by early years. This type ofmethod is applied in this method so that people are able to develop trust for the same. In earlieryears people used to wash their hair with egg (Braun, Just and Hauser, 2014). This concept wasused in which the product includes egg to be the main ingredient for developing the product.Sisley is well known for the use of its plant based skin care. The hair product consists ofrestorative ceramides, nourishing oils and fortifying peptides. This is a global approach to haircare. Two of the components of the hair that is hair bulb (living part) and fair hair fibre (visiblepart). Further, it is formulated with powerful concentration of botanical extracts and vitamins,proteins, minerals and essential oils. All these ingredients are helpful enough to energise the hairbulb and for restructure the hair fibre. Einkorn wheat and Linseed extracts for the protection ofhair‘s natural colour and natural Alpha Bisabolol to soothe the scalp. It is important for the userto apply the product for 30 minutes and the change can be seen next day (Cooper, Kronstrandand Kintz, 2012). In other words, next day hair will become stronger, shine and denser withvitality as if regenerated. Analysis of the market for this productTaste and preference of people changes on frequent basis and it is important for the firmto understand the requirements of individuals and steps are taken that enables to satisfy them.The market in which this product is to be established is at UK. As per the findings that areidentified from Mintel, it can be stated that growth of the women hair care market have drivenwith continues focus on caring needs (Draelos, 2015). The rate of competition is high but withthe brand name of Sisley, it will be able to develop a strong market with its new product. Thereare various models that can be applied and these will be effective enough to consider the steps1

that can be taken through which the goals that have to be achieved can be attained. Main focus ofthe business determined is to establish market for Hair Rituel as it will be helpful enough toestablish the market in appropriate manner. For this respect, below given is the PESTLE analysisdone (Parlett, Calafat and Swan, 2013). This tool is used as it enables to provide effectiveinformation in relation with the environment and the also provide information related to whetherdeveloping the market will enable to attain the set goals or not. Below given is the PESTLEanalysis done for the market of UK:Political: Measures are taken by the government in order to address the deterioratingeconomy. It consists of both fiscal and monitory policies. The rates of taxes are raise from 45%to 50%. Due to this, the prices for the products have raised. In this context, it can be stated thatthe rate of sales after make their product for hair care will not deliver appropriate about of sale.The reason of this is the increased tax rates (Romero-Franco, Hernández-Ramírez and López-Carrillo, 2011). A product that is willing to establish its market will not have proper benefit asthe rate of growth that the firm gets will be low due to high taxes. Economic: During the year 2000-2006 was robust and in the year 2000 it had the highestgrowth rate. Then in 2008, economic deceleration began. The contribution that they get from theside of care and support is increasing tremendously. People of UK are more conscious regardingtheir health. With this respect, the income rate of the individuals is high and so it will beeffective enough to make sure that the rate of purchases make will be high as per this factor. Therate of inflation is low and this way the product will be able to cover huge market. However, thisis only possible when the types of services that are delivered to them are able to meet therequirements. Social: On regular basis that taste and preference of people changes. It is important forthe business to understand them and proper steps are taken so that the rate of satisfaction levelcan be raised (Rosen and Kunjappu, 2012). As per the preferences that are identified of thepeople of UK, it is identified that individuals are make use of new products so as per the benefitsthat they will be from it. Apart from this, people are highly health conscious and so that theymake use of new products so that they can make themselves attractive. Technology: There is different type of changes that has taken place in relation with thetechnology. When talking about earlier years, people used to visit stores so that make purchasescan be made. However, with advancement in technology there are uses of online platform2

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