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Report on Marketing Strategy - Rimmel - Desklib

   

Added on  2020-06-05

14 Pages4598 Words171 Views
MARKETING STRATEGY

EXECUTIVE SUMMMARYMarketing strategy is a plan required to communicate with prospective buyers aboutgoods and services offered by an company. This activity is concerned with value proposition oforganisation, information for target audience and other related factors. These plans help indetermining the timings in which activities will be conducted. It consists of proper marketingaudit through market analysis. This is required to understand the current situation related withtarget segment. It is very useful in identifying the major competitors that could give intense fightto an organisation. To launch a new product, there is the need to adopt concept of segmentation,targeting and positioning. These strategies play a vital role in attaining the marketing objectivesin an effective manner.

Table of ContentsEXECUTIVE SUMMMARY..........................................................................................................2INTRODUCTION...........................................................................................................................1PART 1............................................................................................................................................1ENVIRONMENT ANALYSIS.......................................................................................................1CURRENT MARKETING STRATEGIES.....................................................................................3ANALYSIS OF COMPETITIVE ADVANTAGES .......................................................................4PART 2............................................................................................................................................5PRODUCT RATIONALE AND SPECIFICATION.......................................................................5SEGMENTATION, TARGETING AND POSITIONING.............................................................6MARKETING OBJECTIVES AND GOALS.................................................................................7IDENTIFY APPROPRIATE MARKETING STRATEGIES.........................................................8CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................11

INTRODUCTIONMarketing is the most important activity required to enhance sales of an organisation. It isa set of various strategies formed in order to attract target customers towards products andservices of company. To make appropriate plans in this context, it is needed that managementwill conduct proper research to understand the latest trends in market. Competitors could also beidentified through this evaluation (Birkinshaw, Brannen and Tung, 2011). This report is aboutRimmel which is a cosmetic brand of UK. It is the leading organisation with large number oftrusted customers. In this assignment, proper analysis of various external and internal factors ofbusiness environment will be done. This will assist in identifying the tastes and preferences ofpeople in order to make effective strategies. Rimmel wants to introduce a new range of productsand so, there is the need to set appropriate objectives. These goals must be concerned with brandawareness, market share and enhancement of sales and profitability. PART 1ENVIRONMENT ANALYSISRimmel is a British company involved in manufacturing of cosmetics. It is amongst themost popular brands with high market share. Marketing is an important activity of every firm asit helps in communicating with customers about the features of products. It is based on severalplans related with different areas and activities to enhance the sales of firm. These strategies areconcerned with various factors of external and internal surroundings. To make these schemes inan effective manner, environmental analysis plays a major role. There are several approachesthrough which this research could be conducted. SWOT and PEST analysis are important studiesthat contribute in this scenario (Chaffey and Ellis-Chadwick, 2016). SWOT AnalysisThis is an important technique that is required to gather information about internalaspects of this company. It is useful in identifying the strengths, weaknesses, opportunities andthreats of enterprise in order to make effective decisions related with marketing. Therefore,SWOT analysis of Rimmel is as follows-Strengths Rimmel is the best known brand inUK in the sector of cosmetics.Weaknesses Its cosmetics are expensive due towhich these are not suitable for1

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