Entrepreneurial Marketing Assignment - Herrco Cosmetics

ENTREPRENEURIAL
MARKETING

Table of Contents
INTRODUCTION...........................................................................................................................3
EXECUTIVE SUMMARY.............................................................................................................3
MARKETING AUDIT....................................................................................................................3
Internal Environment..................................................................................................................3
External Environment.................................................................................................................4
SWOT Analysis..........................................................................................................................4
SMART OBJECTIVES...................................................................................................................6
Business Objectives....................................................................................................................6
Marketing Objectives..................................................................................................................6
TARGET AUDIENCE....................................................................................................................6
Market Segmentation..................................................................................................................6
Market Targeting.........................................................................................................................7
SOCIAL MEDIA ZONES AND VEHICLES.................................................................................7
Community/Relationships...........................................................................................................7
Publishing....................................................................................................................................7
Entertainment..............................................................................................................................7
Commerce...................................................................................................................................8
EXPERIENCE STRATEGY...........................................................................................................8
ACTIVATION PLAN.....................................................................................................................9
What will be done.......................................................................................................................9
When it will be done...................................................................................................................9
Timescale....................................................................................................................................9
MANAGEMENT AND MEASUREMENT....................................................................................9
Budget.........................................................................................................................................9
Control.......................................................................................................................................10
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Entrepreneurial Marketing refers to a process of capturing various facets and aspects of
marketing in a way which effectively helps in exploitation of various opportunities present in the
market (Nijssen, 2017). The following assignment is based on Herrco Cosmetics, which is one of
the most prominent SMEs of the country located in Halesworth, UK. It covers the organisation's
social media marketing plan for the span of 4 months which includes marketing audit, SMART
objectives, market segmentation and social media zones and strategies.
EXECUTIVE SUMMARY
Herrco Cosmetics specialises in manufacturing and distribution of cosmetics and skincare
products in the country as well as internationally. The firm is subjected to a wide recognition
recently due to effective formulation of various aromatherapy, body, bath and skincare products.
In addition to this, the firm is indulged into providing effective innovative solution to its clients.
The firm maintains the sustainability of its products by usage of Palm Oil, which is one
of the main component in the firm's 90% of the products. However, to prevent the environmental
harm for this oil's production, the firm is paying extra premium for green palm sustainability. To
stay ahead on its organic agenda, the company is adopting various methods of recycling of its
cardboard and waste products. Herrco Cosmetics, in order to convey its business practices, is
willing to develop social media marketing plan for a span of 4 months.
MARKETING AUDIT
Internal Environment
Herrco Cosmetics is a family owned business which was founded in 1988 by Nigel
Herrmann. For more than two decades, the company has established itself as a crucial company
within the UK market. The firm is currently taken over by Derek Herrmann, son of Nigel
Herrmann, who operates as Technical Sales Director within the firm. The firm has a team of
skilled technical staff such as various chemists and R&D employees. The organisation has
experienced growth in its production rate within the last 5-7 years from half a million units to
eight million. To keep up with the consistency, the company is investing its resources in various
plants and machinery for organic production of its skincare and cosmetic goods.. The biggest
agenda of the firm is to enhance its production in an organic and natural way which is

environmental friendly and attracts major customers globally (Herrco Cosmetics HERRCO TO
WELCOME NEW FACTORY INTO THE FAMILY, 2019).
The vision of Herrco Cosmetics is to service customers all around the world with their
organic skincare products and effective service quality. The mission of the company is to
manufacture and distribute skin-friendly and medically advanced products covering all the
skincare markets such as skincare, body, bath, etc.
Having being led by family members, culture of the company promotes supportive
management and providing effective environment to the members to ensure maximum input
from the employees and utmost competence.
The organisational structure of Herrco Cosmetics consists of various departments such
as production, manufacturing, R&D, sales, etc. that allow the company to gather information
about the immediate needs of its customers to that it could satisfy their demands in a better
manner.
External Environment
The current external market situation of the company is quite favourable in various
aspects which could contribute in the company's long-term success. Politically, the firm is
getting support from governments to enhance its business operations and produce better products
for future prospects. As per various sources, the firm is under contract with the US governments
to develop almost 100 organic merchandises, which would be its biggest range till date.
Economically, despite events like Brexit, Herrco Cosmetics is planning to enhance its production
capacity by at least 400% for which the company is willing to invest almost £600,000 for further
future projects (Herrco Cosmetics HERRCO TO WELCOME NEW FACTORY INTO THE
FAMILY, 2019). Socially too, the firm would attract a lot of customers who keep themselves
away from artificial products with added chemicals that could damage their skin or cause serious
infections. Where as Technological aspects are concerned, the investment of the firm for its new
production vessels would allow it to employ efficient technology to enhance the process of
production. Where is Legal and Environmental facets of the environment are concerned, the
company would be complying with laws such as Environmental Protection Act and would also
be complying with various environmental standards set for cosmetics company.