Develop Natural Cosmetics for Health-Conscious Customers
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Added on 2020/07/22
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This assignment involves developing a range of healthy and natural cosmetic products to cater to the needs of health-conscious customers. You will research customer preferences and behaviors using resources such as the RACE Digital Marketing Planning Framework, ensuring that your product line meets their requirements.
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DIGITAL MARKETING PLAN
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Table of Contents INTRODUCTION...........................................................................................................................1 MAIN BODY...................................................................................................................................1 Mission & Vision........................................................................................................................1 Objective and Goal......................................................................................................................1 Analysis of the existing and target market..................................................................................2 SWOT Analysis..........................................................................................................................2 FUTURE STRATEGY....................................................................................................................2 Areas of opportunities for future improvement..........................................................................2 Race Outline advocated...............................................................................................................4 Resources required......................................................................................................................5 Priorities and reasons for resources.............................................................................................6 Challenges and methods to overcome.........................................................................................6 Outline of proposed strategy and key success indicators............................................................8 CONCLUSION................................................................................................................................8 REFERENCES................................................................................................................................9
INTRODUCTION Digital marketing is a process of introducing and advertising of the product and services in the market with help of the digital channels. The major objective of this process is to promote the brands with use of various digital media. In the present report, the significance of digital marketing and its application has been addressed with respect of SaSa international holding limited company. Cited venture deals in the cosmetics products such as make up, hair care, body, skincare, fragrance, body care products, health and beauty supplements etc. In this present assignment, analysis of the currents objective, mission, strategies, goal, target market has been systematically addressed. In addition to this, proposed strategy for improvement has been also clearly discussion in this report. MAIN BODY Sa Sa international holding limited is one of the famous leading cosmetic retailing organisation which is deals with various cosmetic products such as make up, hair care, body, skincare, fragrance, body care products, health and beauty supplements etc. As per the Hong Kong report, Sa Sa company have Retail Asia Pacific top 500 ranking of the retail magazines and it also represents more than 100 international beauty brands in the Asia. Following are vision, mission, objective and goal of the cited venture- Mission & Vision Sa Sa company have mission is to produce the high quality of beauty products in the market and effectively meet actual needs of the customers related to the cosmetics. Cited venture is successful and well established “One stop cosmetic store which offers varieties of cosmetics products and its online channels delivers online shopping services to customers (Bates and Bitton, 2010). It desires to gain high market share and profitability in the beauty and cosmetic sector by deliver high quality of beauty product and services to customers. It another mission is to build long term partnership with our suppliers. Objective and Goal Sa Sa company have objective is to meet the regular demand of the customer related to the cosmetic product and become number one cosmetic retail in the world. Its goal is togrow its core cosmetic retailing business by incresaing retail outlet throughout the region. 1
Analysis of the existing and target market In the time, Sa Sa company have target market to all female and male candidate. It produces the product and services according to the needs of the male and female related to their beauty. SWOT Analysis In order to analyse the competency and effectiveness, SWOT model can apply which are as follows- Strength- Sa Sa company have major strength is related to its high quality of cosmetic product and services. It has effective presence on the online channels through which it has effectively dealt with customer and solve their queries related to cosmetic products. Another major strength of the Sa Sa company is its continuous research and innovation in the cosmetic products. Weakness- It majors weakens is related to the changing taste and preferences related to the cosmetic so company have to change its product customisation. Another major weakness is related to the product differentiation (Beaudry and Pinsonneault, 2010). It hasweak online presence and e-commerce channel on the internet so it required to improve its e-commerce channel. Its another weakness is its low promotion and advertsiment. Opportunities- Its major opportunity is to develop such effective natural and cosmetic products which produced with very less chemical products. In addition to this, its another opportunity is to become the number one leading cosmetic retailer in the world. Threats- One major threat is related to the high level of competition. In the cosmetic industry, Sa Sa company have high level of rivals and competitorsso this is one of the challenge for cited venture (Bilbao-Osorio, Dutta and Lanvin, 2013). In addition to this regular changing the taste and preferences of customer related to the cosmetic is also major challenge for the Sa Sa company. FUTURE STRATEGY Areas of opportunities for future improvement From the SWOT analysis it has been analysed that the Sa Sa company have effective positioning inthemarketasitdeliversvarietiesofcosmeticproduct.However,duetohighlevel competition, changing regular taste of customer related to cosmetic, product differentiation it required to focus on the area of opportunity for improvement which are as follows- Market research- It should conduct market analysis and investigation by which it can easily identify the actual requirement of customer related to the cosmetic product and 2
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services. With assistance of this tactic it can overcome the issue related to changing customer demand. Produce healthy and natural cosmetic product- Company should focus on the natural and healthy productof cosmeticwhichhavenotany sideeffect.Thiswillfulfilthe requirement of natural and heath concious customers (Kellermann and Jones, 2013). Business analysis- In order to overcome the issue related to high level competition, Sa Sa company required to conduct effective business analysis by which it can analyse the competency and strategies of rivals about the product and services E-commerce- It should improve its online presence by making e-commerce channels. With help of effective e-commerce channel, it can easily deal with customer with internet and sale its product on various online channels (Borghoff and Pareschi, 2013). Social media- In order to improve its promotion and advertisement, it should use social media channels. In order to improve the current weakness, cited venture will develop digital marketing plan for 24 months under which each activity organise according to specific time period. Activities/ Month 4 Months4 Month10 Month4 Month2 Month Market research Business Analysis Healthy product development E- commerce Social media 3
Race Outline advocated RACE digital marketing planning is a framework under which various steps are included such as reach, act, convert and engage. In order to implement planning about the future improvement and make the presence on the internet cited venture will focus on the Race digital planning which are as follows- Reach-In the fist stage company build the awarenesses on the social media and online website. In this stage, company develop effective awareness of the product and services on the various sites on the internet. Act- In this stage, company engage with the audience and share the information about the product and services. Corporation generates the content for the product and services and announce the value of the company in front of the audience (RACE Digital Marketing Planning Framework, 2017).Convert- In this stage, company persuade the users who regularly usethe social media and online channels for product ad services and communicate with them about the quality 4 Illustration1: RACE Model (Source:RACE Digital Marketing Planning Framework ,2017)
and effectiveness of the product and services (Davenport, 2013). In this stage, firm required to influence and motivate customer about the new product and services which it will sale in the future such as natural cosmetic for natural and heath concious customers. Engage- In this stage, company finally make the new customer and increase the value of the commodities. Company regularly engage with customer by taking their feedback and review so as it can make further improvement in the future (Dahlstrom, Walker and Dziuban, 2013). Resources required SaSa cosmetic company is planning to market its products and for that entity requires several resources. These are as following: Human resource: In order to accomplish goal of the cited firm it is essential to have support of skilled people. SaSa cosmetic company needs efficient team members those who have great knowledge about the cosmetic market and are able to communicate with target audience significantly (Olteanu and Curmei, 2014). Organization needs skilled people those who can conduct market research effectively and can identify needs of consumers. Apart from this they need to have technical knowledge so that they can contribute well in the digital marketing planning. Cited firm needs staff for market research, handling of technical equipments,account management etc. These skilled people can help in accomplishing goal of entity to great extent (Şerban, 2014). Physical resources:It is another main resource which are required in digital marketing planning. SaSa cosmetic company needs equipments, computers, internet, cosmetic tools etc. for effective marketing of products. By this way it will be able to meet with the specific needs of consumers and it will be able to meet with its objective. 5
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Financial resources:SaSa cosmetic company is required funds for market research, technical development etc (Shamma and Hassan, 2013). Management needs to have sufficient budget for the marketing planning so that individual can hire skilled people and can prepare planning in effective manner. Cited firm is required to raise funds so that it can conduct marketing program effectively. For that SaSa cosmetic company needs to take loan and have to manage its cash flow significantly. Technological resource:As it would be a digital marketing plan thus, SaSa cosmetic company is required to have sufficient and updated technologies so that it can implement plan effectively (Olteanu and Curmei, 2014). Priorities and reasons for resources One of the most important resource is financial resource, if firm is having sufficient funds then it will be able to conduct research and can prepare plan significantly. It is on first priority of SaSa cosmetic company. Entity is required funds for marketing permission, development of website, printing business cards, start-up cost etc. Funds for these expenses can be gathered from variety of sources such as bank loan, credit card, investors etc. With the help of sufficient financial resource it will be able to manage its operation effectively (Şerban, 2014). That will help in investing money for efficient market research and hiring skilled people for the same. Technological resources are in second priority for the digital marketing planing of SaSa cosmetic company. As it is going to market its brad through digital platform. Thus, it is essential for the entity that to issue updated modern technologies. With the help of these tool cited firm, will be able to manage its operations like recording of data, communication with consumers appropriately. SaSa cosmetic company's mission is to develop strong relationship with its target consumers (Mullin, Hardy and Sutton, 2014). It is possible when it has strong technological resources. By using technologies and tools effectively it will be able to coordinate with its consumers and will be able to identify their needs and requirements 6
Human resource is another more important resources and have equal priority as financial resources. If there is absence of skilled workers then company will not be able to market its products significantly. They are most important assets of the firm and contribute well in the success of the organization. Physical resources are another essential resource for the marketing plan of SaSa cosmetic company (Şerban, 2014). By having adequate tools, equipments, outline stores cited firm will be able to promote its products across the world. That will assist in increasing its brand awareness and revenues as well. Challenges and methods to overcome Insufficient data: It is one of the major challenge can be faced by SaSa cosmetic company. If marketing manager does not research properly about the needs of consumers and their preferences then individual will not be able to develop marketing plan. By this way customers will not tackle interest in the company's products and they will move to other brands. It is very important for the cited firm to have sufficient data about market and clients so that it can market its products accordingly (Mullin, Hardy and Sutton, 2014). Changes in Competitor strategies If competitor modify its strategy then accordingly marketing manager have to react. Individual have to make changes in its planning accordingly that will requires huge investment and will increase cost of the enterprise. Thus, it is very important for the organization that to look upon this issue and deal with it effectively so that it can mange its operations significantly (Şerban, 2014). Changes in government law It is another challenge for the SaSa cosmetic company that may affect the marketing planning to great extent. If government make sudden amendments in the legislation and policy 7
then it may creates huge trouble for the organization because it will have to change its plan. By this way cost will get increased and employees will not accept sudden changes easily (Olteanu and Curmei, 2014). It may create problem in the execution of digital marketing planing. Budget It is one of the most important issue that can impact on the marketing planning. It is essential to manage financial resources effective otherwise it will go over budget. Poor controlling It is another challenge for the SaSa cosmetic company, if there is lack of management and poor controlling then cited firm will not able to successfully implement the digital marketing plan (Shamma and Hassan, 2013). Methods to overcome from these issues: SaSa cosmetic company should effective researchmarket and should gather necessary information about cosmetic market and consumer needs. It will support in minimizing issue related to insufficient data. Management should closely monitor activities and have to make contingency plan as well. By this way cited firm will be able to face sudden changes and will continue working (Mullin, Hardy and Sutton, 2014). Management should effectively allocate resources so that cash shortage does not occur and entity can run its operations smoothly. Outline of proposed strategy and key success indicators SaSa cosmetic company should improve its products and have to make them as per the needs of consumers. Cosmetic products are mostly used by women and they want such skin care items which do not cause issue to their skin. Thus, cited firm should adopt innovative technique and should improve its quality of products (Olteanu and Curmei, 2014). By this way it will be able to grow well and attracting more people towards the brand. Digital marketing is most effective way to promote the brand across the world. By using attracting images on social sites cited firm can gain attention of mas audience. It will support entity in meeting with its objective. In order to know the success of marketing plan SaSa cosmetic company should tackle support of ratio analysis, quality management, increment in number of customers, review of consumers in this respect. Rations will help in knowing the profit of the firm after implementing marketing plan, That will help in addressing success of the planning for cited firm (Mullin, 8
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Hardy and Sutton, 2014).SaSa cosmetic company should take feedback from consumers, their review can states whether planning is effective or not. If number of consumers have been increased that means marketing plan has helped in raising awareness of the brand among consumers. CONCLUSION From this entire report it has been concluded that Sa Sa company have effectively focused on the quality and effectiveness of the cosmetic product and services. With help of digital marketing planning, firm can easily acquire the large amount of customer of the digital channels. It has been also concluded from this report that cited venture should improve social media and e-commerce presence through which it can more attract the customer. It also should develop healthy and natural cosmetic product for fulfil the needs of the heath conscious customer. 9
REFERENCES Books andJournals Bates, D.W. and Bitton, A., 2010. The future of health information technology in the patient- centered medical home.Health Affairs.29(4). pp.614-621. Beaudry, A. and Pinsonneault, A., 2010. The other side of acceptance: studying the direct and indirect effects of emotions on information technology use.MIS quarterly.pp.689-710. Bilbao-Osorio, B., Dutta, S. and Lanvin, B., 2013. The global information technology report 2013. Borghoff, U.M. and Pareschi, R. eds., 2013.Information technology for knowledge management. Springer Science & Business Media. Dahlstrom, E., Walker, J.D. and Dziuban, C., 2013.ECAR study of undergraduate students and information technology. 2013. Davenport, T.H., 2013.Process innovation: reengineering work through information technology. Harvard Business Press. Kellermann, A.L. and Jones, S.S., 2013. What it will take to achieve the as-yet-unfulfilled promises of health information technology.Health Affairs.32(1). pp.63-68. Mullin, B. J., Hardy, S. and Sutton, W., 2014.Sport Marketing 4th Edition. Human Kinetics. Olteanu, V. and Curmei, C. V., 2014. Relationship Strategy–Marketing Programs within Small andMedium-SizedEnterprises.InternationalJournalofEconomicPracticesand Theories.4(2). pp.281-287. Şerban, S., 2014. From marketing to semiotics: The way to marketing semiotics.Journal of Self- Governance and Management Economics.2(2). pp.61-71. Shamma, H. and Hassan, S., 2013. Customer-driven benchmarking: A strategic approach toward a sustainable marketing performance. Benchmarking: An International Journal. 20(3). pp.377-395.
Online RACEDigitalMarketingPlanningFramework,2017.[Online].Available through:<slidemodel.com/templates/race-digital-marketing-planning-framework-powerpoint- template/>.[Accessed on the 23 September 2017] 11
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