Executive Summary The brief study of the project explained about 4p’s marketing mix strategy in which comprises price, product, place, and promotion. Significance of 4P’s model understood by the support of two brands i.e. Loreal’s Expert moisturiser and Bulldog moisturiser. These brands applied 4p’s marketing mix model to increase their brand image and product in the glocal market analyse in this project.
TABLE OF CONTENTS Executive Summary.........................................................................................................................2 INTRODUCTION...........................................................................................................................4 Marketing Mix comparison.........................................................................................................4 Comparison of Target markets....................................................................................................8 Recommendation.........................................................................................................................8 CONCLUSION................................................................................................................................9 REFERENCES..............................................................................................................................10
INTRODUCTION Marketing refers as a set of action or tactic that undertakes by company for promoting product or services in the business market so that it can achieve high profitability in business. Thisreportwill providea comparisonbetweenLoreal’sExpertmoisturiser andBulldog moisturiser brand with the support of marketing mix strategies. Both brands are producing moisturiser for men. Marketing Mix comparison Marketing mix is a marketing tool which is applied by companies or brand to influence brand image or product positioning in the global market. it comprises various marketing mix elements i.e. product, price, place promotion which are known as a set of marketing that helps to improve brand or product positioning (HR and Aithal, 2020). This marketing set is also known as 4P’s model. Different elements of marketing mix are mentioned below in following manner: Product Product strategy supports brand to develop effective product accordingly market trends in the context of increasing the sales and satisfaction of users as per their needs and expectations. It is considered one of the essential parts of marketing mix strategy that plays vital role in leading level of customer’s satisfaction by meeting their needs and preferences (Dadzie and et.al., 2017). However, product is categorized into two forms tangible and intangible. Tangible means product or goods that are consumed by customers while intangible means a service or idea that is used by company or brand to provide standard quality services i.e. online transaction services, home deliveryservicesetc.thecomparisonbetweenLoreal’sExpertmoisturiserandBulldog moisturiser is mentioned below. As the beauty care market is improving the high demand of customers, is also increasing and that is very important for both brands to concentrate over their products to enhance sales and attracts large of customers in the business productively. Loreal’s Expert moisturiserBulldog moisturiser Loreal’s Expert Moisture is the one of the most demanding brands in Loreal’s existing portfolio. The focus of the company with this Ascompared,thisbrandalsohasan innovativeapproachinordertoenhance efficiency of their products which supports
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brandistostayfocusedonqualitative approachinordertoincreaselevelof consumer’s satisfaction as well as increases sales of product in the market effectively. So, it is very essential for the brand to develop better quality moistures which keeps targeted audience skin soft and rich nourish. brand to create bette5r opportunities in order toincreasehighprofitmarginasBulldog provideshigh qualityskincareproductfor Men. It offers different quantities product i.e. 100 ml, 200mil etc. in particular brand so that each category customer can select moisturizer as per the needed quantities. This brand is majorly focused on using herbal andnon-chemicalingredientsdueto increasing high awareness in customers about theharmfuleffectsontheskin.Italso supports brand to capture large market share and gain more trust in it’s market. Bulldog Natural Skincare Original Moisturiser leads men’s grooming to a new level of excellence by improving the outlook of their skin. This product is available in travel size quantity i.e. 100ml. The main objective of the brand is to keep customer’s skin rehydrating, so it involves 8 essentials oil’s as ingredient in the moisturiser i.e.greentea,leaves,greenalgae,konjac mannan and vitamin E which keeps skin more hydrating and glowing as well. The Bulldog Moisturiser never comprises paraben, sodium laureth sulphate, artificial colours, synthetic fragrances etc. because it harms skin. Price
It is another effective tool of marketing mix model that can be defined as the amount that customer’s pays for the getting product and services. This element plays significant role in customer’s buying decision for example when price of product is high as yield decreases buying behaviour of targeted audience. IN other case if price of product is lower that improves selling behaviour of employees in the workplace and makes employer low-cost market leader in it’s industry. The comparison between Loreal’s Expert moisturiser and Bulldog moisturiser is discussed below in respect of price: Loreal’s Expert moisturiserBulldog moisturiser Loreal’s Expert Moisturiser is the brand that is famous for it’s moisturiser and offers for the men’s which is major speciality of the brand. To promote it’s moisturiser it adapts competitivepricingstrategy.Thisstrategy supportsbrandtopenetratemarket effectively.Thisstrategyisnotonly supported brand to attract new customers but alsobringsperceivedvalueswithinit’s market. While Bulldog also implements competitive pricing strategy. It offers it’s moisturiser at similar price like Loreal’s expert moisturiser. The main goal of the brand to offer standard quality moisturiser at affordable price which improves customer’s buying behaviour and keepsthemsatisfiedforthebrandas comparedLoreal’sexpertmoisturiser (Išoraitė, 2016). Premium pricing strategy also has followed by brand. There is a reason to adapt this strategy such as it has goal to attract high and middleclasscustomer’sforit’sproposed brand so that it enables to generate high profit margin by selling them at hike price. With this strategy, it has maintained standards of brand in the market. As compared this brand follows sustainable pricingstrategysothateachcategory customer i.e. lower, upper and middle class can buy it’s proposed product in effective manner. The main objective of the brand is to build strong positioning as Bulldog brand for ordinary men which can be gained through this as the pricing is lesser rather then other organic brands and highly closer to synthetic product.
Place Place plays significant role in company because it supports to occupy wide number of customers within place for selling it’s product. The comparison between Loreal’s Expert moisturiser and Bulldog moisturiser is discussed below: Loreal’s Expert moisturiserBulldog moisturiser It also has adopted distribution strategy to provide high availability of proposed product in the global market. With the support of this strategyithasestablishedreliablebrand image in Indian market due to good quality moisturiser (Sanober and et.al., 2018). Distributionmarketingstrategyfollowsby brand and it sells it’s proposed product to the targetedaudiencethroughmajorretailers acrossUKi.e.Sainsbury’sandspecialist cosmetic stores i.e. Boots. Online marketing strategy also follows by brand and provides onlinewebsitestothecustomerwiththe support of online stores Niven and Joshua & Male-organics. With this strategy brand has goaltoincreasetheirreachtowardsthe ordinary men. Promotion It is another essential marketing tool of the 4P’s model that supports to improve product value in the skincare industry. There are various sources of promotions i.e. public relation, digital marketing that helps to develop a good image of the product in customer’s mind. Loreal’s Expert moisturiserBulldog moisturiser It follows aggressive policy strategy that is quiteinformativeandcreativetypepolicy which ensures users that they get standard quality product i.e. moisturiser. This policy has supported brand to increase positioning of proposed moisturiser in the global market. It is usage online public relation promotional strategy that supports news, published articles on shopping advisory sites i.e. Hippyshopper. Apart from this, brand has been featured it’s productinpressarticlesinarangeof newspapersincludingDailyMirror, Telegtaph,fashionmagazinei.e.FHM&
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cosmopolitanetc.helpsbrandtodevelop good positioning in the market. Comparison of Target markets Target market refers as a specific group of people from wide population which is targeted by companies or brands as targeted audience to have intention of selling their products and in exchange generate high profit margin within business. It also helps in analysing demand of targeted population about the brand and it’s product in the market. Comparison between two brands in the context of target markets that has been mentioned below: Loreal’s Expert moisturiser:The target market of the brand is high and middle class people who specially looks for good brand and it’s product which offers high standard quality moisturisers that keeps their skin healthy and nourish for this they are ready to pay extra. This brand is specially designed for men. Bulldog moisturiser:While Bulldog targets those people who wants good quality moisturiser at affordable price and they expect that they can carry product in travels easily. So, it targets middle- and lower-class people. Bulldog is known for men’s world because it offers all product for the men only (Ruiz-Pava and Forero-Pineda, 2018). Recommendation Bulldog moisturiser and Loreal’s expert moisture brand apply 4P’s model effectively by implementingdifferentmarketingstrategiestoinfluencetheirproducts.However, Loreal’s Expert is more successful as compared Bulldog moisturiser in respect of applying 4P’s model because it’s targeted audience men who are ready to pay extra on the product to get glowing and healthy skin rather than Bulldog moisturiser. Bulldog needs to target upper class audience because it will improve standard of brand in the business market because upper class audience always wants such chemical free product and wants that the brand improves their value in community. Loreal’s Expert moisturiser needs to improve it’s promotional strategy that brings awareness in targeted audience about it’s speciality that ultimately improves demand of the product in market (Lindgärde and Mionic, 2020).
Bulldog must follow premium pricing strategy then it can easily access high class customers for buying it’s proposed product. CONCLUSION This report has been summarized 4P’s marketing mix model that is used to create comparison between two brands Loreal’s Expert moisturiser and Bulldog moisturiser in the context of implication of different market strategies. It can be concluded different targets market that used by two brand Loreal’s Expert moisturiser and Bulldog moisturiser for private gain.
REFERENCES Books and Journals HR, G. and Aithal, P.S., 2020. Establishing True Lifestyle Brand in India: An Integrated Marketing Mix Framework.International Journal of Management, Technology, and Social Sciences (IJMTS),(June 2020).5(1). pp.261-284. Dadzie, K.Q and et.al., 2017. How firms implement marketing strategies in emerging markets: An empirical assessment of the 4A marketing mix framework.Journal of Marketing Theory and Practice.25(3). pp.234-256. Išoraitė,M.,2016.Marketingmixtheoreticalaspects.Internationaljournalofresearch granthaalayah.4(6). pp.25-37. Sanober, N and et.al., 2018. Impact of Marketing Mix Strategies on Consumer Purchase Intention.Page|i. p.52. Pratama,I.G.A.B.S.,VerbalandVisualMessageson“L’orealParisMenExpert” Advertisements. Lindgärde, M. and Mionic, A., 2020. Brand Equity within Skin Care: A Qualitative Study of Consumer Attitudes and Preferences towards Green Skin Care Brands. Ruiz-Pava, G. and Forero-Pineda, C., 2018. Internal and external search strategies of innovative firms: the role of the target market.Journal of Knowledge Management.