Principles of Marketing: Analysis of Dove Toothpaste Brand Extension
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This report analyzes the current value of the Dove brand and potential target market for the brand extension (Dove Toothpaste) using principles of marketing. It also explains the new product, analyzes the new market and trends, and compares it with competing brands.
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MG412 PRINCIPLES OF MARKETING
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EXECUTIVE SUMMARY Principles of marketing assist various businesses in their formation of various approaches related to prices, place, promotion and product. For expanding the business in new field as of dove toothpaste these principles have helped in deciding for pricing, promotion of the dove toothpaste. The aim of this report is to analyze the current value of the dove brand and also analyze the potential target market for the brand extension (dove toothpaste).
TABLE OF CONTENTS INTRODUCTION.........................................................................................................................4 MAIN BODY..................................................................................................................................4 Existing brand value of the firm..................................................................................................4 Presenting the new products with the growth strategy................................................................5 Identification of the target market................................................................................................5 Analyzing the new market and trends..........................................................................................5 Explanation of the New Product..................................................................................................6 Analyzing the brand extension which would be different from the competing brands...............7 CONCLUSION..............................................................................................................................7 REFERENCES..............................................................................................................................9 APPENDIX....................................................................................................................................10
INTRODUCTION Principles of marketing are generally used by various brands and firms for building various strategies and approaches related to promotion, prices, place and products. This report will discuss details about the dove company. Which is expanding its business by launching new products in the line of toothpastes. This report will analyze the certain value of the dove company. Also it will identify the target market and the pestle analysis of the company for identifyingthenewmarketwithtrends.Lastlyexplainingthenewproduct,anddoing comparative analysis of the company. METHODLOGY This research is being carried out by using observational research also by using the secondary data sources. MAIN BODY Existing brand value of the firm Brand generally refers to as the enterprise which helps in indenting the name of the company to an individual. The company Dove is the brand which is owned by uniliver. Mainly manufacturing the products of the sop among various countries around the world. Its products are generally ranging from its soap, lotions, moisturizers, hair cares products and also the face care products. The company market share of the products is ranging with the 3.4 percent, and stores having a share with the 11.5 percent in the total markets. The company is operating with the financial operations ranging from 500 crore brand. Currently the market segments of the company are the females and those women’s who are preferring to use the quality of products for skin. The concept of brand extension is basically being defined as when the company as dove will be using the name of the brand in order to launch the new product and new categories of products. this will help in reaching various consumers of dove which are loyal to the brand image (The dove difference, real beauty, a compelling social mission, 2022). The model of branding Kapferer’s Brand Identity Prism) uses the six main features to create the arising brand image in the market mainly the Physique: Generally, examines the basic characteristics of the dove products mainly the of products, its functions, designs of the dove products. Personality: As the personality explains the company character as the dove brand name is a yellow love bird also with the bright logo with the word dove on every product the dove company manufactures.
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Culture: Mainly the culture of the dove brand is for featuring women, the company never uses models. Relationship: This emphasizes on the relations with consumers, the dove relations with consumers are very good it supports hair interest by listening their needs, concerns as t is the self-esteem based company. Reflection: Dove products is targeting mainly with the age of 8 to 35. also the company is creating the brand image and advertising by using the target demographics. Self-image: The dove company self-image, this generally promotes the positive image promoting the products traditional beauty standards. Presenting the new products with the growth strategy The new product of dove as a dove toothpaste will be choosing its growth stagey made of using the various ways. As for instance the company will be introducing the product at the low competitive pricing stagey in order to sustain in the competitive environment as of toothpaste. But the products being produced in gel form toothpaste will be highly chargeable after growth at niche pricing from the consumers (Caliskan, A., 2019). Also the product will be containing antibacterial property, with zinc and aqua, glycerin, Tatar control, water, and mainly in the form of sodium fluoride which will help in fighting the bacteria and germs from mouth also prevents bad smell from mouth. Also for initial growth, targeting the audiences of various age group mainly between the For promotion of new dove toothpaste product by advertising daily in the newspapers also on televisions, starting advertisements campaigns, using popular media and consumers for promoting its products mainly the local consumers for advertising the brand of dove toothpaste. Also by giving samples with the newspapers in the beginning containing smallest tube of dove toothpaste (Firmansyah, 2019). will help in building the brand image and will give recognitions of the new toothpaste brand. Identification of the target market The target market of the dove toothpaste will be including all age group of people. Mainly for the dove toothpaste the target market will be mass of population. Mainly targeting these individual who are looking for strong, germ free and smell free mouth also which mainly protects from cavity and decaying of tooth. Market segmenting is basically divided into the various regions, populations and various channels of distribution as of direct sales, manufacturers also from retailers will be adopted for selling the product (Tolstikova, 2020). as the product is generally based for whitening the teeth and cavity protectioning also freshening the mouth from bad smell. Analyzing the new market and trends The pestle analysis will help in determining various factors affecting the dove toothpaste brandbeforeenteringintomarket.astherearevariouspoliticalfactorsconcerningthe government regulations, trade regulations, taxes imposed on products. also certain laws relating to the use of chemicals in dove toothpaste. Also the various economic, social factors will affect the products and their prices as of the GDP rates, currency values, unemployment level, and the
less money with consumer will affect the demand for the new products as this will provide the low purchasing and consumption capacity with the consumers (Premec and Guzovski, 2021). Also the company should recognize the current technical changes as of innovation and the market trends and the consumer demand must be analyses before expansion and introducing the new product as dove tooth paste. Further the health and safety laws, environmental packing must be adopted which must be recycled must not cause pollution, for protecting the consumer health must be considered before designing as a new product By using the Ansoff’s Grid helps in marketing the product mainly generates growth with the Product development as this emphasize on introducing new product to existing market. This marketing stagey being adopted by dove will help the company in making various stages related to the expansions of the toothpaste products and will helps in providing various solutions to target the market and creates brand image for the new product which is being launched in the existing market (Lim and Zhang, 2021). So this will help dove company in creating toothpaste for teeth whitening, with the cavity protection, prevents mouth smelling, also herbal. Which is being greatly demanded by consumers who are more cavity and whitening conscious. Explanation of the New Product Dove toothpaste: Making of the product will be containing antibacterial property, with zinc and aqua, glycerin, Tatar control, water, and mainly in the form of sodium fluoride which will help in fighting the bacteria and germs from mouth also prevents bad smell from mouth. Product packaging:The packaging of the new product dove toothpaste will be in tube, which can be squeeze comfortably. This is generally of round shape and the cap of the tube will also in round shape made up of plastic in the oval shape. Also the packaging of the toothpaste of dove will be done with all those material which can be easily recycled and reusable for the further processing. Product promotion: the product will be promoted on various television, in newspapers, also in magazines, local newspapers, and by advertising on tv with non-models (Li, Larimo and Leonidou, 2021). Brand positioning: The brand positioning of the new dove toothpaste will be done by emphasizing more on logo with the dove blue brand name with toothpaste name and symbolling with whitening teeth and germ protection by using cloves. And mainly using femininity as dove is using in the existing products for positioning in the consumer’s mind. Brand namewill be DOVE TOOTHPASTE emphasizing whiteness, cavity protection and gives freshness by protecting mouth from bad smell. Also the product pricing strategy will be medium level starts from 70 rs for 75 ml.
Analyzing the brand extension which would be different from the competing brands Dove toothpasteSensodyne Product: product is being designed by targeting all the groups and mass population. Price: pricing of the dove tooth paste is comparatively low as for entering as a new product in market with 70 rs for 75 ml. Place: The product will be distributed among various demographics, at all the local shops, in supermarkets, rural and in urban area. Promotion for the new toothpaste of dovewillbeusingsocialmedia websites, also televisions, newspapers. asforinstanceininitialphase providingvarioustubesofdove toothpasteassampleswiththe newspapers for promoting product and establishing brand image in the name of toothpaste as dove products which will attract consumers. Mainly the product is made for consumers with sensitive teeth and having sensations. Pricing strategy of sensodyne is generally high as compared to new dove toothpaste. The company targets the upper class for attracting premium customers. for 75 ml it is 105 for fresh mint product for targeting sensitive teeth persons specifically. Mainly available in urban areas, with premium prices. Promotion strategy used by the company is mainly by the campaigns and providing the free checkup for sensations, which attract customers.
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CONCLUSION Form the above report it can be concluded that Principles of marketing are very important forpromotingvariousbrandsandfirmswhichhelpsinbuildingvariousstrategiesand approaches related to promotions and growth of business. by expanding the product in the market with the brand name of dove as a toothpaste. will help the company in gaining competitive advantage and also aids growing the business in the toothpaste sector. This will also generate profits and revenues for the whole company.
REFERENCES Books and Journals Caliskan,A.,2019.Applyingtherightrelationshipmarketingstrategythroughbigfive personality traits.Journal of Relationship Marketing.18(3). pp.196-215. Firmansyah, M. A., 2019. THE EFFECT OF ADVERTISING AND PRODUCT QUALITY ON PURCHASINGMOTIVATIONOFCONSUMERONSHAMPOOPRODUCTIN SURABAYA.Media Mahardhika.18(1). pp.39-45. Li, F., Larimo, J. and Leonidou, L. C., 2021. Social media marketing strategy: definition, conceptualization, taxonomy, validation, and future agenda.Journal of the Academy of Marketing Science.49(1). pp.51-70. Lim, J.S. and Zhang, J., 2021. The impact of message appraisals of Dove’s Campaign for Real Beauty on information seeking and electronic word-of-mouth intentions of US female consumers.Telematics and Informatics.61. p.101594. Premec, I. R. and Guzovski, M., 2021. Marketing strategies and their impact on brand strenght- cases of three companies.Zbornik sveučilišta Libertas.6(6). pp.19-27. Tolstikova, N., 2020. Dove in Russia: The role of culture in advertising success. InMarketing Management(pp. 59-71). Online Thedovedifference,realbeauty,acompellingsocialmission.2022.[Online].Available Through<https://www.unilever.com/brands/beauty-personal-care/dove/ >
APPENDIX The pricing data: As the pricing of the dove toothpaste is decided for selling the pack of 75 ml is 70 rs. Also the research for promotion and product based on the dove toothpaste is being done from the secondary sources for designing the product with optimum packaging, pricing and adequate materials.