Marketing Strategy and Its Various Aspects

This assignment is focused on understanding the various aspects of marketing strategy, including segmentation, targeting, positioning, and value proposition. The document includes a review of relevant literature, discussing the importance of these elements in marketing and their impact on business success. It also explores other related concepts such as SWOT analysis, PEST analysis, and competitive analysis, providing insights into how marketers can effectively apply these tools to inform their strategies.

PRINCIPLE OF
MARKETING
REPORT

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1 ...........................................................................................................................................1
Description on the analysis of customer to identify and justify market segmentation, targeting
and positioning process...............................................................................................................1
MARKET ANALYSIS- .............................................................................................................4
SWOT ANALYSIS.....................................................................................................................5
PESTLE analysis.........................................................................................................................6
Porters Five force model:............................................................................................................7
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
Marketing plays important role in relation to create the good and services in market.
Without marketing firm is not able to perform its function in the effective manner. Marketing
and selling both are differed with each another, but their activities are interrelated. The marketing
principle is helpful in relation to frame product, price, promotion and those strategies which will
bring positive result towards the business enterprise. The present report will outline the business
activities as are techniques, process, PESTLE, SWOT, Porter five forces's and market analysis so
that function of the firm can be taken in the expertise manner. The main target behind preparing
this report is to cover the various aspects of marketing (Tadajewski and Jones, 2012). In this
manner it is very essential to understand the various kinds of concepts as are segmentation,
creation and targeting function so that all activities can be performed expertise mode. The class
cosmetic creation is the firm which planning to introduce its new product in market. They are
launching their new product as the night cream for eye and anti sweat lotion for summers. The
unique feature about the product is it is unisex. Apart from this, in this report there is need to
focus over the various strategies like product, price, promotion and distribution tactics so that
firm can undertake its business activities effectively.
TASK 1
Description on the analysis of customer to identify and justify market segmentation, targeting
and positioning process.
In order to launch the new product in the market it is very essential to understand the need of the
customer in the market. Without understanding this firm is not able to undertake its business
activities effectively (Mitchell,Wooliscroft and Higham, 2010). In this manner the launching
firm need to have the depth understanding about the needs of the customers and it should be
central focus. This all kind of activities will be helpful in relation to full fill the aims and
profitability of enterprise. From the last many years the firms need to use those kinds of tools and
techniques which are helpful in relation to obtaining customer intelligence in B2C industries and
this all have become increasingly sophisticated. In this manner it can be true to said that
Digitalization now provides a vast services in relation to untapped analytical data, and in this
manner customers are becoming increasingly engaged in the design process itself. The
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identification of customer is need to be done in order to analyze the need of the customer in the
market. This all are helpful in relation to create the large amount of profitability in the market.
 Market strategy- in this it is essential to have one particular plan of action so that
activities of firm can perform their work in the effective manner. In this manner it is need
to understand the situation analysis marketing objectives should be set which can be
frame with the help of making a strategic plan which consist the action plan must be
formulated. The class cosmetic creation company is taking various kind of initiatives in
order to launch the market named as Eye cream for night and anti sweat lotion for thelts
and middle age people. In the UK market the demand for the cosmetics product is on
high manner (Sheth and Sisodia, 2015). In order to get success the firm need to those
strategies which will be helpful in relation to capture the long term market share. This
kind of activities will be essential in order to frame effective marketing plan and action
through which they are able to conduct business activities effectively. In this manner they
need to focus over the quality they are using and to promote it in market they need to
frame out plan of action in expertise manner. The marketing strategy will be inclusive of
various things as are segmentation, targeting the audience, positioning the product and in
order to develop and end value proposition.
 Marketing segmentation- it is the effective term in relation to bring the division
between the services of the entity in the market. It is the kind of marketing concept which
works as to divides the complete market set up into smaller units and it is inclusive of
consumers with a similar taste, demand and preference. The class cosmetic creation is
developing their product in the market in relation to approach the large number of
customers. They are going to launch their beauty product in the market for the eye to
remove the dark circle problem (Kolar and Zabkar, 2010). This is one of the effective in
order to promote the new good and services to the consumers. To launch this in the
market they need to take various initiative with the help of which there product can have
validity in market. n as the small unit within a large market comprising with the various
kind of functions like minded individuals. In this it can be notice that there is One market
segment is totally clean-cut from the other section. In this there those individuals who
think on the same lines and have similar interest in the product and services available in
the market.
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 Positioning- The term positioning can be defined as the process or steps with the help of
which we ensure that the company's commodity have effective identity and image in the
consumers mind. In this the firm need to take various kind of initiatives in relation to
launch the product in the market so that firm can have unique identity in market.
The main purpose behind it is to fix the name of the brand in the mind of the consumers to
maximize its expected benefit to the company goal is to locate the brand in the minds of
consumers, this kind of function will be helpful in relation to have the long term sustainability in
the market (Barile and et. al., 2012). In order to maximize the potential benefit to the firm, the
class cosmetic creation need to use quality product in the market. In this it can be said that in the
result of positioning, a successful creation and value statement can be created in the mind of
customers. The company is positioning its product for the first times as the anti-sweat lotion. In
this manner the firm is taking various kind of initiatives in relation to promote its product using
various advertisement tools such as television ads, print ads and broacher etc.
There are differed basis of marketing segmentation as are-
Gender -The marketers work as to have proper division of the market into smaller portion based
on gender. In this it can be stated that Both men and women have contrary interests and
preferences, choices and thus the need for segmentation. In this manner it can be true to said that
the Organizations need to take various initiatives in relation to have different marketing
strategies for men which would obviously not work in case of females. In this it can be noted that
women will also not buy the product which is for men use (Tadajewski and Jones, 2012). In this
manner class cosmetic creation has invented the product in the market for the use of both men
and women, it is unique product meant for males and females. In this the market segmentation of
the market is need to be done as per the gender and it is very important in many industries like
cosmetics, footwear, jewellery and apparel industries.
Age Group- This is also one of the crucial step in this the all the things are need to be divided on
the basis of age group of the target audience is also one of the effective ways of market
segmentation (Chan and Wang, 2012). This is need to be done in order top target the one
particular so segmentation so that they are able to each the customer in the high manner. They
need to target the adults and males and females above the age of 35. In this way they can
promote their product in the market in the well and effective manner. The products and
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marketing strategies for adults would obviously be different from males and females in the
market.
Income- This is the which plays the essential role in relation to target the customer on the basis
of their incomes. Under this there is need to work as to division of the consumers into small
section as per their level of income. There is need to Individuals are classified into section
according to their monthly earnings.
MARKET ANALYSIS-
Under this there are various categories of cosmetics and their current market trends are
elaborated in this section. The class cosmetic creation is taking various kind initiatives in relation
to launch their new product in the market (Rusinko, 2010). The class cosmetic creation has
various kinds of Categories of cosmetics discussed in this report which is inclusive of the frame
of the product as are skin and sun care products, hair care products, deodorants, make-up and
colour cosmetics and fragrances, this firm has capture the long term share in the market. They
are engaging in providing the quality products to the customers.
In this it can be said that Skin care plays the most important role in category which is one of the
most technically advanced, complex and different collection of cosmetics (Papasolomou and
Melanthiou, 2012). In market there are various kinds of brands are available in this manner in
order to cope up with it the firm need to use effective strategy so that product can get promote in
the market. There are various rivalries in the market to firm and to Products are all factory-made
by the companies in this there is need to undergo many dermatological tests before they are
introduced any new product for final utilization in the market. In addition to this Presently,
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product manufacturers are taking various initiatives to adopt innovative technologies such as
nanogold and nanosome technology or nano particles for manufacturing of the skin related care
products. In this there are some following mentioned figure which shows the global percentage
share of the various skin care categories in 2013 in the following manner as are-
In this there is Rising demands for herbal cosmetics is prompt the leading manufacturers to
launch new herbal cosmetic products (Hsu, Liu and Lee, 2010.). The class cosmetic creation use
the herbals' ingredient in their product they are providing quality product to the customer, in this
manner to remove the issue in relation to the dark circle they invented eye cream for both males
and females in the market by targetting the customer and it is unisex products. In March 2015,
Unilever acquired REN Skin care; the transferred possession would help Unilever to increase
their customer base for skin care segment. There are number of the companies who are providing
good quality to the customers.
SWOT ANALYSIS
Strengths:
In this there is need to provide a quality skin-care cosmetic cream which closes face
pores and gives a non-greasy face on which make-up can last longer (Rusinko, 2010). The class
cosmetic creation is taking various initiatives to launching the product in market as anti sweat
lotion. There is need to the age of glamour, bringing an extension to beauty and a cosmetic
necessity.
In this there is need to provide high quality products to the customers, it will be helpful in
relation to having widespread availability and promotion so that products can become popular in
order to get promote in market (Papasolomou and Melanthiou, 2012). It is helpful in relation to
Providing of the Safe skin product and the Innovator Advantage, in order to promote the firm
with the products like anti swat cream and eye cream.
Shortcomings: The market of the UK is the Highly focused market. In this connection the firm
need to the significant Threat of the contenders about replicating the item in the market this sort
of the circumstance has different Trouble in making a high-appropriation rate (Mitchell,
Wooliscroft and Higham, 2010). They are having various kind of competitors available in the
market. In order to cope up with the firm need to take various initiatives in order to deliver the
qualified products to customers. They need to focus on the various kind of activities as are High
advertising cost, Advanced lawful and corporate costs, in relation to have the opening of or to
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promoting any product they need to Going into the Cosmetic and Skin care Industry in the
meantime. They also need to take various initiatives in relation to Making new varieties of
against sweat cream at a quick pace to meet typical skin needed and customers exotic need These
are the products as are Fabricated against sweat body creams (Jüttner, Christopher and Godsell,
2010.).
The various situation in this relation which is need to be cope up is like the market is very
aggressive, worldwide recession, contrasts in taste and inclinations, government standards and
laws, high limited time and improvement cost
Opportunities- By take entry into the market of the cosmetic the firm can easily analyse the
need of the product and demand of the customer in the market. There is need to create new
variations of anti-sweat cream and eye cream at a fast pace to meet various skin requirements
and customer's needs (Jüttner, Christopher and Godsell, 2010.). The class cosmetic creation has
also needed to take various kind of initiatives which will be helpful in order to attract the
customer in the market for the longer period.
Threats- The major threat in this relation is that firms are having number of rivalries in the
market. There is high level of global recession and this all kind of factor can stiff the competition
available in market. In this it is very essential to understand the needs and demand of customers.
PESTLE analysis
Political factors- A portion of the political components to contemplate are legitimate issues,
principles and controls of the administration and different others casual and additionally formal
guidelines under which a firm should act (Jüttner, Christopher and Godsell, 2010.). A portion of
these political components are: tax, laws and regulation. In this firm need to take the various kind
of the initiatives which will be helpful in order to introduce new product as per producing good
and services. There are various kinds of the things which are need to be produced in the market
by understanding the need of the customers. In this the duty policy in relation to it states that the
organization needs to manage an assessment rate of 30%, which is the most astounding among
all the expense rates, as the corporate duty rate. This lessens the benefits of the organization.
Environmental regulations: According to the standards of the administration the organization
needs to change over 30%of the land region into green land to make the earth co-
accommodating, acquiring additional cost for the organization. The beauty product need to be
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produced with the help of understanding the needs of the customers in market. In order to make
oppression of firm effective the firm has to taken care of environmental measures.
Social factors- In this the taste, preferences and choice of the products plays the essential role in
relation to have Statistic and social perspectives frame. These elements influence the customer
needs and size of the potential market (Hair, Ringl and Sarstedt, 2011). There are some social
elements include, well-being, keeping the security of the end customers and social obligation as a
primary concern the organization has utilized the chemicals that are not unsafe for the skin and
are somewhat exorbitant than alternate chemicals.
Technological factors- The innovation is the term which is helpful in relation to get the success
in the market for longer period. It is helpful in order to attract the customer in the market.
Mechanical components incorporate biological and ecological angles. Some innovative elements
are as per the following as are- the organization should spend a considerable measure on the
innovative work of the item in the upcoming years. This will help organization in order to being
a pioneer in propelling such an item in the UK and the item will be effectively duplicated by the
incline. In this manner, the organization should keep putting resources into the innovative work
exercises to keep a firm hold in the market (Hair, Ringl and Sarstedt, 2011). In this manner it can
be understand that the technology's effect on firm's offering as are The expansion in the R&D
cost will influence the company's putting forth as the cost of the item will increment with
increment in R&D cost.
Economic factors- The acquiring energy of a forthcoming customer and in addition the
association's cost of capital is influenced by different monetary components. Some monetary
variables include, Swelling rate the inflationary period is unfavourably influencing the
organization as the crude materials, apparatuses, and so on must be bought at a higher cost. The
class cosmetic creation need to frame the price of the product in the manner which will be
helpful in relation to affordable by the customers.
Porters Five force model:
This tool is considered to be as an effective toll which can be used for identifying or
analyzing the intensity of competition in an industry. Porters five force model is also used for
measuring the effectiveness of the industry in which an organization is operating (Chan and
Wang, 2012).
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There has been tremendous growth in cosmetic industry. Increase in the feeling of
developing self image and presentation , this factors has supported classic company in increasing
sales and profitability. But with the growth of the industry there has been increase in competition
as well. There are several variables which has affected the entry of new organization in an
industry which can be analyzed by utilizing the model of porter five force. This hypothesis
mainly have focus on five factors these are:
Thereat of new entry: These variables analyses the ease with which an enterprise can enter into
a cosmetic industry. The Classic company has developed the appropriate strategies for entering
into an industry (Barile and et. al., 2012). Business entity has used the herbal natural raw
material for developing the cosmetic product which has helped firm in entering into a market and
attracting customers. Number of customers in the market. As the cosmetic industry is big which
requires lot of investment, there are fewer chances or threat of entry of new companies in the
market.
Bargaining power of customers- An organization also has adopted the cost leadership strategies
which has helped business entity in attracting wide .As business entity is already offering good
quality of products at reasonable price there is bargaining power of customer in low (Armstrong
and et. al., 2014). But if the company fails to deliver the good quality product then the bargaining
power of customer can be high as the switching cost for consumer is low.
Bargaining power of suppliers:the bargaining power of suppliers is low. As Classic
organization has good brand image and the reputation in the market. Many of the suppliers want
to deliver their product to end user through these companies.
Threat of substitute: There are high chances of substitute product, as there are big organization
in the industry who have high potential as well as resources to develop substitute products.
Launch of substitute product can give rise to the intense competition in the market.
Rivalries among existing firm: As cosmetic industry is very big, classic cosmetic company has
to face stiff as well as intense competition. Some competitors in cosmetic industry are Espa,
Clarins etc. the major disadvantage about this kind of entity is that they are having the large
number of entities in market and they use to produce the same kind of product, this will affect
the profitability of the firm in large manner.
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CONCLUSION
Based on above report it can be concluded that marketing is the essential concept in order
to have effective working of the entity in market. Marketing and selling both are concepts which
are differed with each another, but their activities are interrelated. The identification of customer
is need to be done in order to analyse the need of the customer in the market. They are launching
their new product as the night cream for eye and anti sweat cream for adults and middle age
people. Apart from this, in this report there is need to focus over the various strategies like
product, price, promotion and distribution tactics so that firm can undertake its business activities
effectively. In addition to this file is inclusive of the various kind of the factors as are SWOT,
PEST, Competitive analysis etc. In this manner there is various kind of factors as are marketing
strategy will be inclusive of various things as are segmentation, targeting the audience,
positioning the product and in order to develop and end value proposition.
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REFERENCES
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