Principles of Marketing: Dove Toothpaste Market Analysis

This report focuses on conducting market analysis for Dove Toothpaste to adopt principles of marketing. It includes an analysis of the existing brand and brand values, description of the target market, analysis of the new market and trends, an explanation of the new product, and competition. The report concludes with the importance of marketing activities for companies.

Principles of
Marketing
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EXECUTIVE SUMMARY
For every company it is essential to conduct marketing activities because through it they
can able to increase their market value as well as customer’s base at the potential marketplace.
Marketing activities include advertisement as well as promotion of products and services to
customers so that they get encouraged to visit at store and purchase. Dove is going to launch
their new products i.e. Dove Toothpaste for which they are conduct market analysis so that they
can adopt principles of marketing in effective manner. For which they conduct analysis to know
its background, market value, market shares and trends as that will help in decision making. in
addition to this they also adopt different method or models which help in conducting business in
effective manner with new products at the potential marketplace.
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Contents
EXECUTIVE SUMMARY.........................................................................................................................2
INTRODUCTION.......................................................................................................................................4
METHODOLOGY......................................................................................................................................4
FINDINGS..................................................................................................................................................4
Existing brand and Brand Values............................................................................................................4
Description of the Target Market.............................................................................................................4
Analysis of the New Market, Including Trends ......................................................................................5
An Explanation of the New Product........................................................................................................5
Competition.............................................................................................................................................5
CONCLUSION...........................................................................................................................................6
REFERENCES............................................................................................................................................7
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INTRODUCTION
In today’s time for every company it is essential to conduct marketing activities in
effective manner so that they can attain their desire goal as well as objective in effective manner.
Marketing is considered as activity or techniques through which a company can attract customer
are their products as well as services at the potential marketplace in successful manner (Argade,
2020). Organization selected for the respective report is Dove which is owned by the Unilever
and it is introduced 1955. Products offer by respective company are hair care, facial care, lotions,
moisturizer, beauty bar, body wash and many more. Now they are planning to introduce new
product i.e. Dove Toothpaste for both kids and elders for which they conduct market analysis
which help in adopting principle of marketing. The main aim of developing this report is to
understand different aspects of marketing and related factors.
METHODOLOGY
The method which is used to conduct respective report is primary data because it helps in
getting more authenticate as well as reliable information related to topic.
FINDINGS
Existing brand and Brand Values
Brand is considered as name, design, symbol, term or any other features which help in
identifying one seller’s products and services as it distinct from those of the other sellers.
Moreover, brand extension is determine as brand stretching which is a marketing strategy which
is adopted by firm in order to increase products under the same brand image (Cateora and et. al.,
2020). There are several models of branding which a company may adopt such as Keller’s brand
equity model which is consist of four sections at first Dove need to identify their market value to
know who they are? Second is determining what you are at market, third is what about you
customers think and fourth is relationship of company and customer.
Description of the Target Market
Target market is considered as customer for which company develop as well as offer their
products and services so that they can attain their desire goal at the potential market place. In
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respect of Dove their target market are all age group people because they are developing
toothpaste for both kids as well as elder people. In addition to this it can be afford by all income
group people i.e. middle, upper middle and upper class individuals. Moreover, by adopting
respective brand people able to get best toothpaste in affordable price as it will include balance
amount of calcium, aluminum hydroxide, silica and hydroxyapatite, Fluoride.
Analysis of the New Market, Including Trends
For this Dove need to conduct PESTEL analysis and Ansoff’s matrix because it help in
determining effective market situation. According to PESTEL analysis respective need to
consider political, economical, social, technological, economical and legal factors because
through it they can develop effective decision related to the market. Moreover implementing of
all the factors and related elements respective company able to design as well as develop
effective plan or strategy for new product i.e. toothpaste (Chernev, 2020). In addition to this
respective company also need to conduct Ansoff’s Matrix, management will adopt new products
development strategy. According to respective strategy Dove will introduce new products with
special feature so that they can attract more and more customers towards it. In respect of this
toothpaste of Dove contain balance amount of calcium, aluminum hydroxide, silica and
hydroxyapatite, Fluoride for both kids and elder people. It is also effective for the cavity,
sensitivity and other oral issues.
An Explanation of the New Product
The new products offer by Dove is toothpaste which is for kids and elder people as well
as it has balance amount of calcium, aluminum hydroxide, silica and hydroxyapatite, Fluoride
which help people in fighting with cavity, sensitivity and other oral diseases. Along with this, if a
person is using respective toothpaste then they didn’t need to use any other paste for overcoming
oral diseases (Kekane, 2020). For this respective company adopt different promotional activities
such as digital, social media, newspaper, and television advertisement and so on. Moreover, they
can position their products at the local stores, malls, medical shop and many other related places
so that customers can reach it easily.
Competition
Dove is introducing new products i.e. Dove toothpaste which has balance amount of
calcium, aluminum hydroxide, silica and hydroxyapatite, Fluoride according kids as well as elder
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people. Moreover it will also help in preventing from cavity and sensitivity among both age
group people. Moreover, if a person is using respective brand then they didn’t need to use any
other toothpaste for cavity and sensitivity (Suryawanshi, 2020). But when it compare to Dove
competitive brand i.e. Aquafresh Brand it also focus mainly on cleaning of teeth.
CONCLUSION
By analyzing points which are mentioned above it can be determined that for every
company market is necessary because through that they able to attract more and more customers
towards their products and services. This will also help in determine whether customers will like
their new products as well as services or not according to which company will develop strategies
and plan which help them in attaining desire goal. During this they need to conduct several
activities such as market analysis to know effectiveness of their brand as well as it can also be
conducted through model like Keller’s brand equity. It is also necessary for customers to know
their target market or customers, new market trends, effectiveness of products and so on. This is
so because that will help in developing effective decision related to new products.
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REFERENCES
Books and Journals
Argade, S.L., 2020. Recent Trends in Marketing-MCQs.
Cateora, P.R. and et. al., 2020. International marketing. McGraw-Hill Education.
Chernev, A., 2020. The marketing plan handbook. Cerebellum Press.
Kekane, M., 2020. Question Bank (Englsih) Marketing Management Paper-II, TY BCOM (2013
PATTERN-Regular).
Suryawanshi, V.B., 2020. MCQS Principles of Marketing.
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