This marketing plan focuses on Huda Beauty, a well-known beauty brand. It includes an overview of the company, situational analysis, SWOT analysis, SMART objectives, tactics to achieve the strategy, and implementation strategies. The plan also discusses the 7 Ps of marketing and the importance of monitoring, control, and evaluation.
Contribute Materials
Your contribution can guide someone’s learning journey. Share your
documents today.
MARKETING PLAN2 Contents Overview of the company...........................................................................................................................3 Situational analysis......................................................................................................................................3 SWOT analysis.........................................................................................................................................3 Strengths.............................................................................................................................................4 Weaknesses.........................................................................................................................................4 Opportunities......................................................................................................................................5 Threats.................................................................................................................................................5 SMART objectives........................................................................................................................................5 Specific....................................................................................................................................................5 Measurable..............................................................................................................................................6 Achievable...............................................................................................................................................6 Realistic...................................................................................................................................................6 Timely......................................................................................................................................................6 Tactics 7 Ps to achieve the strategy.............................................................................................................6 Product....................................................................................................................................................7 Price.........................................................................................................................................................7 Promotion................................................................................................................................................7 People......................................................................................................................................................7 Process....................................................................................................................................................7 Physical evidence.....................................................................................................................................7 Place........................................................................................................................................................8 Implementation of monitoring control and evaluation...............................................................................8 Conclusion...................................................................................................................................................9 References.................................................................................................................................................10
MARKETING PLAN3 Overview of the company Huda Kattan showed women on how to make a career out of the channel by Inner Kardashians and makeup perspectives. Huda was born in Tennessee and the family background she comes is from Iraq. Huda Beauty is managed and established by Huda Kattan who studied finance and then started her makeup blogs. The makeup guru then had a huge company which is well-known as Huda Beauty. A beauty influencer who created a trend on Instagram and influenced the beauty scene from a blog in the year 2010. Huda Beauty launched lashes line and changed the game of brand from the year 2013 which was the starting success for the company. The handmade lashes completely changed the scenario and focused on breaking records while working in Dubai. She ended up becoming a successful woman with several records that continue to focus on a single brand. Breaking records focus on working with the investment and resources with an entire store to focus on continuous development. The report focuses on situational analysis, SMART objectives, tactics to achieve the strategy, implementation, monitoring, control and evaluation of the strategy. The report focuses on SWOT analysis and market analysis while positioning the product in another market. The marketing world has a major analysis of brands and is progressing day by day with specialized strategies. There are big brands that focus on lost control and are less relevant to smaller brands. The makeup line has launched the beauty products in the year 2013. Situational analysis SWOT analysis The marketing world has enhanced the level of progress for brands to ensure operational results. In a small period of time, Huda beauty has reached a level of efficiency in the beauty industry. There are several strong brands that have control over the message in terms of smaller brands that focus on becoming number one in the beauty industry in the world. Since the launch of the make-up line in the year 2013, Huda beauty has reached to a certain extent with the help of Instagram as a social media (Bizfluent 2018). The Huda beauty products ensure that its products are leading the business with successful building empire in the beauty industry. The business empire tends to focus on the global expansion of the market that ensures a support system for several beauty products and wellness brands that help Huda for achieving competitive advantage.
MARKETING PLAN4 With the launch of the new product in the business, the company is ensuring a make-up line that succeeds in the business (Collins 2017). Every few months, the company ensures a successful SWOT analysis in order to improve the efficiency of the business. This engages the company to improve every now and then while working on relativemeasures to ensure competitive advantage in the beauty and wellness industry. The major focus that the brand considers is towards beauty products. SWOT analysis of Huda beauty is mentioned in order to consider the position of the company currently (Kotler and Keller 2012). Strengths The main influence that ensures company recognition is towards brand recognition and strong analysis of beauty products. The strength of the company lays in cosmetics stores that are available in Dubai. There are several products that are sold online which is one of the major benefits for customers and for the brand to enhance effective management. The products of the company are highly accepted and valued in the business. There are more than 750 stores in more than 17 countries which is a high appreciation for the company to consider the recognition in terms of highly appreciated and liked product by the public. There are high-value brands that are focused on the cosmetics category and this ensures that consumers mind to accept the price and get the value of the product. There are private labels that the brand ensures in terms of brand products. This is an appreciative focus which is considered in the business while confirming that the products have their own labels which are privately owned. Strength of the company relies on the brand and the products that are highly appreciative. Good branding strategies and marketing strategies are highly adopted by the company in terms of a strong level of handling social media influencers (Brown 2013). Thereby, the strength of the company lies in product features and considering the major acceptance of the product in terms of customer satisfaction rate. Weaknesses There are several brands who have weaknesses that should be improved in which he compared the value of brands should be listed with the leading brands. There is a huge comparison that the company makes in terms of industry level and size that matters in business (Wood 2013). There are several brands such as Avon and Loreal that cannot be compared with Huda beauty, thereby it has certain restrictions and limitations while it just needs to focus on product appreciation and marketing strategies. The product of the company is not sold in every country while this is one of
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
MARKETING PLAN5 the limitations that can be called as a weakness for the company to ensure brand recognition. There are only 17 countries in the world that highly market the products of the company. Opportunities There are several opportunities in the business that ensure a high level of recognition for the brand. A new market can be introduced while the expansion of the market can lead to a major change in demand and supply of the product. There are instances in which the company can become a world-class makeup artist with the brand name and remarkable models that are presented in the business. Then there are several opportunities while entering a new market with different products and price into emerging economies that best suit the environment and culture of the company. Threats There are several players in the beauty and wellness industry such as Kylie cosmetics, Stila, Fenty Beauty, Loreal, etc. These are the high-level players that provide tough competition for Huda beauty in the beauty industry. There is a lot of similarities that are mentioned with the level of product and the cost that ensures a big concern in terms of high inflation due to raw materials cost that has increased in the market. Low cost can be considered but at the same time, there is a difference in the quality of raw materials (Fogarty 2017). SMART objectives SMART objectives help in constructing an effective marketing plan which is highly important for a business to ensure the marketing plan. Smart includes specific, measurable, achievable, realistic and timely. These are the smart objectives that ensure the company’s goal in terms of the marketing plan to be framed with a good chance of success. The SMART technique is applied while focusing on SMART objectives of the business (Lee 2018). Specific The first objective that Huda beauty needs to focus on is a specific outcome that reveals the position of the business (Kotler and Keller 2016). The goal of Huda should focus on the level of understanding and the expected results of the business. Huda beauty should focus on the sales volume that will be decided by the managers to ensure effective sales and profit of the company.
MARKETING PLAN6 Effective sales volume is addressed with more business plans to be included while achieving the goals of the company in terms of sales volume. Measurable It is important for a manager to ensure that the sales volume should increase to 5% while addressing certain activities to be included in the business. There are several business goals that are addressed and need to be measured by the company in terms of the time period (Hollensen 2016). Achievable The goals should assure achievable condition in which the resources ensures business success. It should address the level of tools and skills that are required to complete the ultimate goal of the company (Kotler, Armstrong, Harris & Piercy 2017). Realistic The sales that need to be increased by 5% in the year 2019 is realistic as the last year sales were more than 3% which can be assumed that the goals are realistic in nature and can be accomplished effectively. Thereby the business should focus on economic condition and work on realities of the business and its climate. To set the goals, it is important that an increase in 5% of the sales can be achievable (Kotler, Armstrong, Harris & Piercy 2013). Timely The experience in the business tends to show that the business considers a major inclusion of working on a timely goal to be achieved in the business. Tactics 7 Ps to achieve the strategy The 7 Ps of marketing tactics are introduced in order to achieve a market position for the company. It is thereby important that the combination of 7 Ps should be considered in the marketing plan (Internal Marketing 2018). Effective use of each tactic tends to reflect the business model in terms of the target market. To focus on a new market, it is important that Huda beauty should consider these strategies as a marketing tactic to ensure the success of the business. The 7 Ps are not necessarily controllable in terms of internal and external analysis. The marketing environment needs to be majorly focused (Lehmann & Winer 2008).
MARKETING PLAN7 Product Products of the company are highly a strong measure that influences the market in the beauty and wellness industry. Thereby more of the attention is to be made through product features and benefits. Customers tend to reflect while considering the value satisfaction while the benefits of the products are observed. Price Price is the next big thing that the company needs to control while lower down the flexible expenses that are unnecessary for product appreciation. Price mainly refers to identifying customer benefits and working on the mark-up objective (Dibb, Simkin, Pride and Ferrell 2012). Promotion Promotion of the product tends to reflect a major offer that the company provides to its customers. Offers and discount would attract the consumer to buy the product with an effective pricing strategy (Kelly 2018). There are different levels of product engagement that tends to focus on promotional measures. People People in the organization reflect employees and staff of the business. Excellent customer service should be provided in stores to reflect the results of the company. It is advisable to ensure that marketing the brand needs good people and this has helped the business to ensure a competitive advantage. Recruiting people and working on the right decisions in the business tends to reflect competitive advantage (Kapferer 2008). Process Process considerably refers to the delivery of products and services in which the business tends to focus on repeated measures and standards with efficient business plans (Beauty Secrets and Tips, 2018). It is important to have a good practice of business in terms of repeatedly deliver the standard process and services in terms of customer engagement. Saving time and work on increased measures tend to efficiently manage the business. Physical evidence Physical evidence includes interacting with people in the business while gaining informative knowledge about the physical environment that is needed in the business. Physical environment, layout, and packaging are considered with product and service management.
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
MARKETING PLAN8 Place Place considers the importance of business operations and layout. The stores and websites are the business sales that tend to reflect customers and communicate with them effectively. These are the two places where the business tends to reflect efficiently. Retail stores, online market, and social media refer to a place which is even known as channels of business. location is based on the most important tactic where the company would focus on providing maximum benefit to the customers in terms of selecting the products from any end of the world. Implementation of monitoring control and evaluation The marketing plan of the company considers the major part of implementation in terms of defining the goals and considering a major impact in the business. The marketing plan that is prepared needs to be implemented in which it is important to make sure that the plan should have several key tasks that match the overall business objectives. To implement the marketing plan, the resources should be collected and people should be informed about the overall marketing plan that needs proper implementation. The budget of the marketing plan needs to be focused on Huda beauty as it ensures customer service and marketing. Once the message is spread for a marketing plan, the comprehensive marketing plan is created which takes effective steps for actions to be considered in the business process. A marketing plan needs to be implemented with adequate resources and needs a marketing plan that seeks direction towards marketing experts. Communicating with the staff about the marketing plan is an important measure to focus on the marketing plan. The team needs to have total confidence in members. Monitoring the progress is an important measure to be taken which continuously helps the business to focus towards the marketing plan and treat as major importance that reviews the process. The monitoring process helps to consider the target appreciation, tactics to be applied and budget purpose is on track or not. To control the marketing plan, the business tends to reveal a specific purpose that ensures advice to be taken when the plan does not go according to the blueprint (McDonald 2017). Effective planning considers a control driven system in which any derivatives in the business would tend to reflect to plan again the whole marketing audit. Developing contingency plans at the same time is a creative process that the business tends to focus towards while recognizing the change
MARKETING PLAN9 in the plan. Adding a new step for the business objectives is effectively considered in the business. Conclusion The report reflects the marketing plan of Huda Beauty which needs to be considered while representing effective business objectives. The marketing plan of Huda beauty is presented while ensuring the level of engagement of people that are specifically considered in the business and several tactics to be applied in the business. The organization review is presented with several opportunities to be considered in practicing student development with respective consideration of practice towards marketing area. The overall organization review is provided that focuses the componentstowardsa marketingplaninwhichtheinformationisrelevantin termsof applications and processes of the business. SMART objectives are provided in the business that ensures a varying process that can help in considering the application and theory of the business. The marketing planning principles are applied effectively in the business which focuses on SWOT analysis of Huda Beauty, SMART objectives, 7 tactics of the business to focus on achieving the target of the business. Thereby, in the end, implementation, measuring, and control of the marketing plan are assured in the business. The marketing plan focuses on market expansion and product expansion strategies to be included in the business. There are several measures are taken in terms of product features to be added and place of distribution to be expanded in the business. These rely on considerable measures taken by the company to achieve the marketing plan.
MARKETING PLAN10 References Beauty Secrets and Tips. 2018, Huda Kattan - Huda Beauty - Makeup and Beauty Blog, How To, Makeup Tutorial, DIY, Drugstore Products, Celebrity Beauty Secrets and Tips. [ONLINE] Available at: http://hudabeauty.com/huda-kattan/. [Accessed 14 April 2019]. Brown, D., 2013, Influence Marketing. 1st ed. America: Que Publishing. Bizfluent, 2018, What Is a Global Marketing Strategy? | Bizfluent. [ONLINE] Available at:. Collins Allisson, 2017. Huda Beauty Said to Hire Financo for Deal. [ONLINE] Available at:http://wwd.com/business-news/financial/huda-beauty-huda-kattan-deal-financo11034129/. [Accessed 18 April 2019]. Dibb, S., Simkin, L., Pride, W. M. and Ferrell, O. C. 2012,Marketing: Concepts and Strategies. 6th ed. Andover: Cengage Learning Dibb, S. and Simkin, L. (2008)Marketing Planning A Workbook for Marketing Managers. London Cengage Learning Fogarty L, 2017, Who Is Huda Kattan? | POPSUGAR Beauty. [ONLINE] Available at: https://www.popsugar.com/beauty/Who-Huda-Kattan-43696661. [Accessed 13 April 2019]. Hollensen, S., 2016. Global Marketing. 7th ed. United Kingdom: PEARSON EDUCATION LMT. InternalMarketing.2018.InternalMarketing.[ONLINE]Availableat: http://www.marketingteacher.com/internal-marketing/. [Accessed 26 April 2019]. Kapferer, JN. 2008,The new strategic brand management: creating and sustaining brand equity long term, 4thed. London: Kogan Page Kotler, P., Armstrong, G., Harris, L., Piercy, N. 2013,Principles of Marketing; Global Edition, 15thEd, Essex: Pearson Kelly C, 2018, Sparkly Eye Shadow? These (Male) Beauty Bloggers Are Experts. [ONLINE] Available at:.
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
MARKETING PLAN11 Kotler, P., Armstrong, G., Harris, L., Piercy, N. 2017,Principles of Marketing; European Edition, 7thEd, Essex: Pearson Kotler, P. and Keller, KL, 2012,Marketing Management; Global Edition, 14thed, Harlow: Pearson Kotler,P. and Keller, KL, 2016,A framework for Marketing Management, Global Edition, 6thed, Harlow: Pearson Lee, K 2018, 2018:Year of the Influencer or year of the influencer marketing implosion?. [ONLINE]Availableat:https://marketingland.com/2018-year-influencer-yearinfluencer- marketing-implosion-231617. [Accessed 14 April 2019]. Lehmann, D. and Winer, R. 2008,Analysis for Marketing Planning. 7th ed. New York: McGraw Hill Education McDonald, M. 2017,Malcolm McDonald on Marketing Planning: understanding marketing planning and strategy, 2nded. London: Kogan Page. Wood, M. B, 2013,Essential Guide to Marketing Planning.3rded. Harlow: Financial Times Prentice Hall