FM Company- Marketing Plan Assignment
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Added on 2019-10-18
FM Company- Marketing Plan Assignment
Added on 2019-10-18
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Student[COMPANY NAME] [Company address]FM COMPANY MARKETING PLAN
Executive summaryFM Cosmetics is based in Poland; and it is a very fast growing company in the perfume market.It has been created by young people, which is why they are able to respond to needs and wishesof their customers and distributors quickly. The report has done a strategic audit of the companyand its macro, micro analysis has been done along with SWOT. This has helped the companyrealize that where should its base its marketing plan. Then according to that a marketing plan forthe company has been developed. This includes the marketing mix of the products of companyand the controls and budget requires to carry out that plan. 1
ContentsIntroduction...............................................................................................................................................2Strategic Audit...........................................................................................................................................21.1 MACRO...........................................................................................................................................21.2 MICRO.............................................................................................................................................31.3 INTERNAL......................................................................................................................................31.4 SWOT...............................................................................................................................................41.5 CONCLUSION................................................................................................................................5Objectives...................................................................................................................................................62.1 MISSION/VISION...........................................................................................................................62.2 CORPORATE OBJECTIVE..........................................................................................................62.3 MARKETING OBJECTIVES........................................................................................................7Strategic decisions.....................................................................................................................................73.1 MODELS..........................................................................................................................................73.2 OPTIONS.........................................................................................................................................83.3 STP...................................................................................................................................................83.4 BRANDING.....................................................................................................................................9Tactics........................................................................................................................................................94.1MARKETING MIX.........................................................................................................................9Product...............................................................................................................................................9Price..................................................................................................................................................11Place..................................................................................................................................................12Promotion.........................................................................................................................................13Controls....................................................................................................................................................14TOOLS TO CONTROL IMPLEMENTATION...............................................................................14Budget......................................................................................................................................................178. References............................................................................................................................................182
IntroductionFM Cosmetics is based in Poland; and it is a very fast growing company in the perfume market.It has been created by young people, which is why they are able to respond to needs and wishesof their customers and distributors quickly. Among the youth, cosmetics are very famousespecially the women. FM offers large range of fragrances of all types: fresh, flowery, oriental,woody, and fruity and many more. Their primary goals are, to always have available products atthe best possible prices, to focus on the customer and distributor satisfaction by being able tosatisfy customer’s requests. They offer their products branded in the name of Federico Mahora,FM and Aurile. Since 2004 FM Group has enjoyed rapid expansion in over 50 countries. Fragrance for theperfumes is created by the one of the biggest companies in the world with the 100 years traditionwhich is growing up very fast and has its bases in Europe, Australia, United States, China andBrazil. In 2004 FM Group launched an exclusive range of fragrances and complementaryproducts. This young and exciting company has behind it a wealth of experience in perfumecreation, marketing and direct sales and has in a short amount of time already expanded intomore than twenty countries. FM Group UK office opened in January 2006.The strategic audit in the next section will provide the necessary information that will itunderstand the reasons to build a strong position in UK. 3
Strategic Audit1.1 MACROIn the macro analysis, the PESTEL analysis of the business of FM Company has been done. Thecompany operates in the global environment, and it has stores all over the world. So the politicaland legislative condition of the respective countries affects the business of FM Company to agreat extent. Legislation of the nation and the quality of products and services are changing, andthey are introducing new instructions programmes for the beauty fields. Moreover thegovernment is introducing higher taxes for business, and this is badly affecting the businessenvironment (Legislation.gov.uk, 2016).We believe the FM Group Buyers Club offers the perfect solution. It’s only shopping fromhome instead of the Supermarket, and sharing those benefits with people you know it is reallyeasy. The company has to take care of the economic factors as well because they influence the costsof the company, demand for products, prices and profits of the company too. There has been theshift in the shopping trends of customers of UK. Mintel consumer research 2015 shows that highclass customers aged 16-44 tend to buy expensive and branded beauty products (Mintel, 2016).The economy in UK improved significantly by 2015. There is an increasing cost of cosmeticswith a decreasing personal income of people. However middle class customers are stillpurchasing wisely fancying the high quality luxury products (Mintel 2016).Nowadays people tend to use make-up a lot for outing, to look more presentable and changetheirs looks. FM creates a good value gift sets for both men and women. However the greatestgift of offers comes on Christmas period, New Year season, Mother’s Day, Valentines and4
summer deals. Researches in cosmetics show that customers switch to organic and naturalcosmetics (Mintel 2016). However which FM is dedicating and that will also help to build a firmposition in the market. So this is due to the social factors. With technology advancements, there has been development in the products of FM Company.This also has an impact on the customer satisfaction because, with the latest technology, thegoods can be made available to the customers in the short period.According to Mintel 2016,over 19% of customers have researched about desired products online before purchasing theproduct. The advancement of technology has created opportunities for FM to reach theircustomers. Many companies also invest more in mobile applications using any tools of integratedcommunications to promote the band (Mintel 2016). The use of the internet is promoting FM toget the opportunity for customers to notice them through online. In additional is helping FM toimprove business on both operating and promoting, and increasing sales and the presence in themarketing. The environmental issues threaten the cosmetics the most, so they need to act in a sociallyresponsible way. This is done with the help of proper regulations and corporate governance.Nowadays the environmental protection issue has become a very delicate topic, in where moreamendments in environmental law are presented from 2015 (Legislation.gov.uk, 2016). Howeverhas been able for FM to introduce the natural wellness skin care such as Aloe Vera, Beta-GlucanActive, Skin Lab, Honey Collection; and other nutrition wellness like infusions, natural coffee,tea and functional coffee. (uk.fmworld.com)5
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