Principles of Marketing: Marketing Mix and STP Strategies of Head & Shoulder and Pantene
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This study material explores the marketing mix and STP strategies of Head & Shoulder and Pantene. It discusses how these brands use product, price, place, and promotion to gain a competitive advantage in the market. The material also provides insights into the target audience and positioning of these brands.
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Principles of Marketing
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Executive Summary Marketing is a significant business function which helps to increase in sales and profitability of an organisation. There are several tools such as marketing mix, STP are used in order to get competitive advantage. It is analysed that effective marketing and promotional strategies need to be formulate by marketers in order to survive at market place for longer run.
Table of Contents INTRODUCTION...........................................................................................................................4 TASK 1............................................................................................................................................4 Analysed marketing mix strategies of selected brands...............................................................4 Product.......................................................................................................................................4 Price............................................................................................................................................5 Place............................................................................................................................................6 Promotion....................................................................................................................................6 TASK 2............................................................................................................................................7 Analyse STP as a marketing planning process...........................................................................7 Segmentation..............................................................................................................................7 Targeting.....................................................................................................................................7 Positioning...................................................................................................................................8 CONCLUSION................................................................................................................................9 REFRENCES.................................................................................................................................10
INTRODUCTION Marketing is a process in which goods and services are exchanged between customers and business owners. It is an essential function to aware, attract as well as retain customers with company for a loner period of time(Pasquier and Villeneuve, 2017). Here, several tools such as STP, marketing mix are used in order to promote goods and services at wide level. The report considers two renowned brands such as Head and shoulder shampoo and Pantene Lady's shampoo. Head and shoulder is a well known is well known brand of America which provides anti-dandruff shampoo in different countries at global level. It is owned by Proctor and Gamble and was founded in the year of 1961. Whereas Pantene is a brand which provides hair care products and was started in 1945 in Europe. The current report gives an overview about marketing mix and its several elements such as product, price, place and promotion. In additional, STP approach which is used by companies in order to attract more number of customers has also been discussed in following report. TASK 1 Analysed marketing mix strategies of selected brands Marketing mix is frameworks which is used by organisations to get higher competitive advantage by preparing attractive promotional strategies. It is essential to increase in number of customers and increase in sales and profit margin. Elements of marketing mix are given as under: Product It comprises products and services that are provided by organisation to cater the needs and requirements of target audience. As per the current market trend managers need to evaluate current market situation in order to produce effective product and services. HereAaker's model is used to enhance the brand value of a product and service(Kupec, 2018). It comprises five different categories which are used to make strong presence of a brand at market place by providing effective solutions to customers. Categories associate with the model are given as under: Brand Loyalty:It refers to number of customers who will give preference to brand over other and do repetitive purchase. In context of Head & shoulder customer base of company are loyal that provides higher competitive advantage. They not only use it but also refers to others to
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get better results. Here, Pantene is also creating brand loyalty by various marketing campaigns and strategies. Brand awareness:This demonstrates the number of customers who are well aware with brand. It is essential to increase in sales and profit margin. It is analysed that Head & shoulder use T.V commercials, hoardings, celebrity endorsement to spread awareness among consumers. In addition, Pantene also uses several ways such as newspapers advertisements, celebrity endorsement to promote brand at wide level. Perceived quality:It refers perception, opinion of consumers about brand. Head & shoulder positioned itself as a shampoo which is specially for dandruff treatment(Wroblewski, 2017). So, it is perceived as a quality product in that particular segment. It is analysed that Pantene is loosing its brand value due to use of Pro-V ingredients which is not good for hair. Brand Association:It refers to the impact of brand name over buying process, attitude, and purchasing habits of consumers. It is analysed that customers have positive attitude towards Head & shoulder as it provides promised results. On the another side, Pantene is associated with Procter and Gamble which is a renowned name at global market. Thus, brand is getting benefits from its parent company and also use renowned personality to advertise product. Other proprietary assets:In this regard, Both of the brand secure their market position with patents and trademarks. So, competitors can not copy their business model, process and more. Price Price refers to the monetary value which is paid by customers in return of values, benefits they are greeting from products and services. There are several strategies that can be used to determine appreciate price for a product and service. Different factors such as cost, profit, capacity of buyers and more need to be consider by managers while determine price for their products. In context both respective bands, pricing strategies are given as under: Head & ShoulderPantene ï‚·Companyadoptscompetitivepricing strategyin order to attract more number ofcustomers(Sadiku-Dushiand ï‚·Highercompetitionisprevailingin market thus brand emphasis to keep its price at competitive level in order to
Ramadani, 2020). ï‚·Thereareseveralrivalriessuchas Pantene, Dove are present at market place so that brand emphasis to provide its product at reasonable prices which is easily affordable by end users. ï‚·Inaddition,marketersalsoadopt promotionalpricingstrategyby providing discounts and incentives that helps to attract large number that helps to increase in sales and profit margin. sustain for longer run. ï‚·It is analysed that organisation offers quality products in lower price which makes it enable to earn potential profit margin. ï‚·Pantenealsoundertakesvaluebased pricingatatperiodicintervalsto remain ahead in competition. ï‚·Brand also provides discounts and other lucrative offers to customers to attract them towards product. Place It refers to the location from where products and services are provided to end users. Here, effective distribution and supply chain management approaches are used in order to meet with the needsand requirementsof consumers in timeeffectivemanner(Levit,Cismaru and Zederayko, 2016). In context of Head & Shoulder, it has strong presence at global market and operate business in different countries such as Canada, US and more. Company owns an efficient distributionnetworkofretailersanddistributorsglobally.Theyofferproductsthrough supermarkets, retail stores, discount stores and more. Pantene has also presence in international market in more than 50 countries at worldwide. Organisation uses efficient chain of wholesalers, retailers and more to provide products to end users at right time. Product can be founds at local stores, supermarkets, discounting stores and more. With this, both of the brands are able to cater the needs and requirements of end users within minimum possible period of time. Promotion It is a crucial element of marketing mix under which products and services are promoted at wide level in order to inflate sales & profitability. Main aim of promotion is to enhance the market share of organisation by increasing brand awareness. Here, several tools are used by Head&Shoulderinordertoattractmorenumberofbuyers.Itusesnewspapers.T.V
advertisement, hoardings, billboards to retain customers for longer run. In addition, brand highly rely on celebrity endorsement and uses well known personality to grab the attention of target audience(Bao, 2018). On the another side, Pantene is a global brand which use aggressive marketing strategy to get competitive advantage. Company take helps of models and well known personalities to promote its product. Marketers generally use glamorous models with glowing and shiny hair so that viewers can connect easily. In addition, newspapers, TV advertisements are also carried out by organisation to increase brand visibility. Digital platforms are also being used by entity in an effective manner that will help to increase in market share at international level. TASK 2 Analyse STP as a marketing planning process STP is process which are undertaken in order to select target segment and positioned the product and services in right manner. In reference of respective brands, their STP strategies are given as under: Segmentation It is the first step under which managers divide the whole market population in small groups having similar characteristics. In context of Head & Shoulder and Pantene, their segmenting strategies are given as under: Demographic:Head and shoulder offers products at affordable price range which can be easily purchased by lower as well as higher income group people. It is analysed that Pantene also offers product to middle and upper class segment of customers. It is only offers hair care products for females. Psycho graphic:Head and shoulder specifically target those customers who wish to get rid from dandruff. Pantene to people who are conscious about life style and wish to get healthy and shiny hair. Targeting Aftersegmentation,managersneed to determinetargetaudiencethat seemsmore profitable in comparison of other segments(Homburg, Jozić and Kuehnl, 2017). It is monitored that Head & Shoulder targets higher middle class individuals who wish to use a renowned brand. It is targeting middle age men who want to get rid from dandruff. Whereas Pantene targets
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women of middle age specially who are in early 40s. In addition, it target women who are conscious about life style and wish to get healthy & shiny hair to feel confident. Positioning It refers the perception of customers towards a brands. Head & Shoulder perceived as an anti dandruff shampoo. It is analysed that brand has successfully positioned itself in the niche segment among those customers who wish to remove dandruff from their scalp. Pantene is perceived as a brand which provides quality product in affordable price range. In addition, it has positioned itself as a brand which helps to get beautiful hair at reasonable price.
CONCLUSION With above discussion, it is monitored that marketing mix is a crucial framework to remain ahead in competition and sustain at market place for longer run. Discussion has been carried out regarding target segment along with different elements of marketing mix which play a vital role to attain predefined goals and objectives.
REFRENCES Books and Journals Pasquier, M. and Villeneuve, J.P., 2017.Marketing management and communications in the public sector. Routledge. Kupec, V., 2018. First Step of Marketing Audit: Risk Analysis.Marketing Identity,6(1/1), pp.370-380. Wroblewski, L., 2017.Culture Management: Strategy and marketing aspects. Logos Verlag Berlin GmbH. Sadiku-Dushi,N.andRamadani,V.,2020.EntrepreneurialMarketingMindset:What Entrepreneurs Should Know?. InOrganizational Mindset of Entrepreneurship(pp. 181-210). Springer, Cham. Levit, T., Cismaru, M. and Zederayko, A., 2016. Application of the transtheoretical model and socialmarketingtoantidepressioncampaignwebsites.SocialMarketing Quarterly,22(1), pp.54-77. Bao,H.,2018.MarketingofTourismServices/Experiences'.TheEmeraldHandbookof Entrepreneurship in Tourism, Travel and Hospitality. Emerald Publishing Limited, pp.261-275. Homburg, C., Jozić, D. and Kuehnl, C., 2017. Customer experience management: toward implementing an evolving marketing concept.Journal of the Academy of Marketing Science,45(3), pp.377-401. (Pasquier and Villeneuve, 2017)(Kupec, 2018)(Wroblewski, 2017)(Sadiku-Dushi and Ramadani, 2020)(Levit, Cismaru and Zederayko, 2016)(Bao, 2018)(Homburg, Jozić and Kuehnl, 2017)