Strategic Marketing for E45: Market Analysis and Objectives
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Added on 2023/06/12
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This presentation discusses strategic marketing for E45, a skin care brand, including market size and trend data, competitors analysis, SWOT analysis, PESTLE analysis, customer analysis, stakeholder analysis, and strategic marketing objectives.
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Strategic Marketing
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Contents Introduction Market Size and trend data Competitors analysis SWOT analysis Pestle analysis Customer analysis Stakeholder analysis Strategic marketing objectives for the marketing plan Conclusion
Introduction The purpose of this presentation is to develop understanding on strategic marketing and it discuss factors required for devising constructive strategies. In this presentation, market audit is conducted on E45 which is a skin care brand. Based on that market audit, it focus upon formulating marketing strategy for the brand in order to promote its operations.
Market Size and trend data In United Kingdom, the skin care market is worth 2.16 billionwhichcoversarangeofproductsincluding cosmetics,creams,hand-care,lip-care,sunscreensand body lotions. The skin care industry is a influential and highly growing industry due to increasing inclination and preferences of youngsters towards skin care products.
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Competitors analysis The skin care market is growing on a massive level and the industry has become extremely competitive. The skincare industry is full of potential rivals and it has become quite difficult to sustain in this industry without having any unique value proposition. Boots and super drug provides customers with a range of moisturisers approximately 400 and the choices on Amazon are unlimited which gives consumer a platform where they can easily shift their preferences. E45 has still stuck in old and conventional ways and is not attractive to consumers where other brands are offering a lot more with unique value proposition.
SWOT analysis StrengthsWeaknesses •The straight up skincare project •stating real values through brand positioning •Unable to attract more customers •low market share •less awareness of brand among consumers OpportunitiesThreats •Extendingproductlinethroughintroducing organic products •active engagement on social media platforms •Tough competition •A range of substitutes available
Pestle analysis Political factors:E45 is influenced by import regulations of trading asmostofthebrandshavetoimportingredientsfromother countries. Economic factors:E45 is highly influenced these factors as the organisationisunabletoattractconsumersdespitetheirhigh inclination towards cosmetic products as there is wide availability of choices to them.
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Continue Social factors:This industry is becoming a fostering sector due to consumer growing preferences towards skin care products such as creams, moisturisers, lotions etc. The demographic trends of consumers that prevails in this industry are characterised by brand loyalty. Technological factors:Internet and digital techniques has redefined and literally evolved the skin care industry. These digital platforms provide the organisation with an opportunity to attract customer base through ensuring 24-hour access.
Continue Legal factors: The laws of this industry is determined by two leading bodies that are the federal food, drug and cosmetic act and the fair packaging and labelling act. Environmentalfactors:Inrecentyears,theconceptof organic skincare products has emerged which is implying many beauty brands to go green and produce eco-friendly organic skin care products.
Customer analysis The major target market groups of beauty brands such as e45 are young women who are focused on self-care and enhancing their beauty. The habits of millennial women are transforming the industry and are mostly inclined towards face creams and moisturisers.
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Strategic marketing objectives for the marketing plan Increasing brand awareness: The organisation must focus upon increasing brand awareness through using digital platforms of social media and maximising customer engagement through selling its products on online marketplace such as amazon. Improving market share: The enterprise has to focus upon increasing its market share through attracting consumers by offering discounts and exciting offers. Launching a new product: E45 can enhance its worth through adding a new product range or varieties in its already existing products.
Continue Increasing consumer loyalty: The enterprise must emphasise upon attracting as wellas retainingits consumers through ensuring interaction with them on daily basis. Promoting values: Through effective content marketing and socialmediacampaigns,theenterprisemustfocusupon continuously promoting their values.
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Conclusion From this presentation, it has been concluded that skin-care industry is growing and fostering due to increasing consumer preferences of cosmetics and beauty products. Through analysing market size and trends, it has been evaluated that this industry is full of potential rivals and there is high competitiveness among beauty brands. External environmental factors have been determined and effective marketing objectives are formulated in this presentation.
References Forte, A.R.N., 2020.Critical factors across stages of development in european markets: luxury skincare industry(Doctoral dissertation). Marcolino, L.G., 2021.Can memes have cool content and influence customer engagement?: Insight from skincare industry(Doctoral dissertation). Wu, X.R., 2018. The Influence of Facebook Fanpage Post on Electronic Word-of-Mouth-A Case Study of Taiwan Skincare Industry. Turner, D., 2019. Adaptive skincare.Professional Beauty, (JulAug 2019), pp.20-21. Shuhui,G.,2021.WhydoOnlineMakeupBrandsPrevailSkincareBrandsinChineseCosmetics Industry?.China Detergent & Cosmetics.