1MARKETING PLAN Executive Summary The primary purpose of the given report is to highlight a strategic marketing plan for the chosen enterprise, Green People Organic Lifestyle. In consideration of this, the plan will highlight the plan of one of its products, the Mascara and highlight the manner in which the product will be able to gain adequate popularity in the chosen market Canada. The global marketing mix and the promotional budget have been provided.
2MARKETING PLAN Introduction All companies are required to remain proactive in the global business environment. In consideration of this, it is effective to mention that to expand sufficiently, the enterprise would be required to see to it that it is being able to analyse the right factors before entering into any county so as to ensure that the right decision is being made in the right manner (Ang, Benischke and Doh 2015). In consideration with this, the primary aim of the report is to present a global marketing plan of the enterprise named- Green People Organic Lifestyle. The product which has been chosen for the purpose of the analysis is the Mascara. The Natural Mascara is made from natural ingredients and is known to give volume. In addition to this, the mascara also provides the different users with adequate opportunities to get their lashes protected and highlighted as well (Greenpeople.co.uk 2020). This report shall state down the objectives of the enterprise, screen the country markets and understand which market to choose. In addition to this, the market segments shall be decided along with ensuring that the Marketing mix can also be made use of. Additionally the promotional budget along with the Cost benefit analysis shall be provided. Objectives of the firm The objectives of the GREEN People Organic Lifestyle can be mentioned to be as follows: 1.To earn a revenue of £50000 in the coming one year. 2.To increase market share by 10% in the coming one year 3.To provide good quality Paraben free products to the consumers 4.To engage in effective customer satisfaction rate 5.To increase the brand image by 20% in the next 1 year.
3MARKETING PLAN Country screening The countries where the enterprise can expand its operations are the Canada, Brazil, Nigeria, Turkey, Vietnam or Russia. Hence, in the given section the screening of all the countries will be undertaken and this shall be preceded by the detailed screening of one of the countries which will be chosen for the purpose of the selection. Poor: 1-3 Medium: 4-6 Good 7-8 FactorsWeightCanadaBrazilNigeriaVietnamTurkeyRussia Market size0.15855858 Market similarity 0.15734568 Barriersto Trade 0.10825435 Costs0.10834566 Product leadership 0.15845243 Brand leadership 0.10876456 Marketing skills 0.15866757
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4MARKETING PLAN Superior product Benefit 0.10852586 Weighted screening Factors/Weighted Scores Canad a BrazilNigeriaVietnamTurkeyRussia Market size1.20.750.751.20.751.2 Market similarity1.050.450.60.750.91.2 Barriers to Trade0.80.20.50.40.30.5 Costs0.80.30.40.50.60.6 Product leadership1.20.60.750.30.60.45 Brand leadership0.80.70.60.40.50.6 Marketing skills1.20.90.91.050.751.05 Superiorproduct Benefit 0.80.50.20.50.80.6 Total7.854.44.75.15.26.2 Hence, from the given screening it can be agreed to it that the top two countries which can be selected are Canada and Russia.
5MARKETING PLAN Details of top 2 countries Canadian Market The cosmetics products generally tend to comprise of makeup, skin care, hair, manicure products along with the fragrance and other related items. The value of the items in the market in Canada has reached around 15 billion US dollars as of 2020. This can be understood to be an increase of growth since 2016. Around 25% of the Canadians have started marking use of the skin care items and the face care is one the leading items. The sales of such items have come up to 929 million Canadian dollars as of 2018 (Statista.com 2020). An average Canadian household spends an average of 275 Canadian dollars on makeup or skincare regularly and the customers engage in on line shopping such as Sephora and Amazon. Figure 1: The Canadian cosmetic industry details (Sources: Statista.com 2020) Russian Market The Russian market can be understood to be occupying 4% of the global beauty market according to Anna Dycheva-Smirnova after Germany, France and UK. 31% OF THE Russian beautify market comprises of the perfume and chain stores. Moreover, the Russian market
6MARKETING PLAN engagesin12%directsales,5%throughsupermarketsand10%throughe-commerce (Gcimagazine.com 2020). Hence, from the analysis of the Canadian and the Russian markets, it has been decided that the Canadian market is a lucrative market which has the possibilities of a new business venture. The Canadian customers are outgoing and visionary and would be more inclined to make the purchases of the firm. Market segments In order to decide the market segments which will be served by the enterprise in the Canadian Market, it becomes essentially critical to decide upon the Market segments for the firm (Tuten and Solomon 2017). The segments will be decided and created using the Segmentation basis of Demographics, Geographic, Psychographics, Behaviour and the needs (Atwal and Williams 2017). Segmentation basisThe segmented market DemographicsInthisdemographicsegmentation,the characteristicsofthetargetmarketare generally undertaken for the purpose of the segmentation.Hence,fortheMascarathe demographics which have been made use of can be stated to be as follows: Gender: Woman Age: 21-60
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7MARKETING PLAN Income: £10000 an above annually Family: Single or married (Babin and Zikmund 2015). Geographic’sThe geographic segmentationaspectswhich havebeenselectedforthepurposeofthe different customers can be agreed to be as follows: Urban cities in Canada PsychographicsThe psychographics refer to the factors such as theMotivationandattitude.The psychographicsofthedifferentcustomers selected can be: 1.Like to remain fit (Chaffey and Ellis- Chadwick 2019). 2.Like to look after their skin 3.Areconsciousaboutproduct ingredients 4.LiketomakeuseofParabenfree products 5.Like products which are healthy and economical. 6.Areinfluencedbysocialmediaand
8MARKETING PLAN peers NeedsThe needs of the individuals can be mentioned to be as follows: The need to look healthy (Clow 2016). The need to look good The need to purchase a product with a good value To use chemical free cosmetics BehaviourThe behavioural aspects of these individuals can be mentioned to be as follows: 1.The customers are extremely loyal to certain brands (De Mooij 2018). 2.They make repetitive purchases 3.They ensure that they recommend the good products as present. ValuesStrivers, Innovators, Achievers and Thinkers Marketing objectives The marketing objectives for Green People Organic Lifestyle can be mentioned to be as follows: 1.To engage in £50000 gross sales in the first year of operation in the Canadian market
9MARKETING PLAN 2.To incur 10% gross profit in the first year of operations 3.To engage in sales of 100000 mascara in the first 3 months 4.To ensure repetitive purchases and increase in brand loyalty by 20% Entry mode selection For the Green People Organic Lifestyle to expand in Canada, it would be required to adopt Entry strategy which will assist in ensuring that the firm is being able to increase the sales and is being able to perform accordingly. For the enterprise, the two entry modes which will be the most viable ones can be agreed to be the Exporting and Partnering (Deepak and Jeyakumar 2019). The export can be taken to be one of the simplest modes of market entry which can be followed by the enterprise as this will assist them in reducing the costs of being physically present in the market. In association with this, it can be agreed that, it is critically important for the enterprises to ensure that, they are just engaging in the export charges and being able to spread the products into the Canadian market (Haider et al. 2017). In addition to this, in addition to the Exporting, the next entry mode which ca be used by the firm in combination to the firs mode is the Partnering.The partnering can be taken to be an initiative whereby two firms present intotwo differentcountriespartnerwith one anothertoensurebettersalesand operations. Here the enterprise can easily Partner with the leading cosmetics and associated sellers so as to ensure that, they are being able to market their products accordingly and are being able to engage in considerate sales throughout. Marketing mix The marketing mix can be understood to be marketing tool which can be utilised by the different enterprises to ensure that they are being able to understand the offerings which they
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10MARKETING PLAN have to make to the different customers in order to engage in effective sales and related marketing activities (Hastings and Stead 2017). Hence, in consideration of this, the marketing mix for the product Mascara will be discussed in the given section whereby different aspects of the Marketing mix such as the Product, price, place, promotion, People and process will be discussed Product The product which is being sold here is the Mascara. The Mascara is a product which is generally applied on the eye lashes to make them darker and give the eyes a darker effect. In association with this, the Mascara although a good product which gives an enhanced effect to the eyes, has various chemicals in it which further lead to a poor influence on the eyelash count and health. It is for this reason that the Green People Organic lifestyle has to offer an organic product which will help in ensuring that the quality of the eyelash is not compromised. The mascara offered by the firm is available in to variants and these products have been priced accordingly as per their demand (Armstong et al. 2015). The primary feature of the product is that it is paraben free and is healthy for the eyelash. The packaging is similar to any other brands as available in the market (Wilson et al. 2016). Price The price refers to the amount at which the goods are generally sold. In association with this, it can be considered relevant to state that, the pricing strategy of the Green Organics company can be considered to be the competitive pricing strategy (Peattie 2016). In this kind of a pricing strategy, the firm aims to ensure that the price of the products have been set accordingly
11MARKETING PLAN so as to ensure that, the customers do to have to compromise on the quality of the product and can purchase the product easily (Keegan 2017). The products have been priced at £16 which can be stated to be quite fair and stable in comparison to the other products as available in the market. The reason why the products are not priced using the market penetration strategy is because, the products are organic in nature and they are safe for the skin. Place: The place generally refers to the distribution strategy which is generally made use of by the different enterprises. In association with this, it can be essential to state that, the firm will be exporting the product to the Canada through various sores like Walmart and Waitrose (Kotler et al. 2018). It will undertake several initiatives so as to ensure that, it is being able to minimize any middlemen as present in the market and is being able to make the sales of the firm in an adequate manner. With consideration to this, it is effective to state that, at present the stores are being targeted, however, in the future, the enterprise aims to make an online presence in the country as well. In consideration of this it becomes effectively critical to ensure that the product reach out is maximum and the sales are quite high. Promotion: The promotion can be referred to as an aspect whereby the different enterprises are being able to engage in various advertising as well as the sales promotion activities so as to be able to market their products accordingly (Morrison 2018). In association with this, the firm will ensure that the best strategy is being adopted in order to promote the goods of the enterprise and ensure that they are being able to engage in using the social media marketing, the print media advertising and the digital marketing activities (Kotler et al. 2018). By targeting the social media
12MARKETING PLAN as a medium, the enterprise aims to see to it that, it is being able to engage in a considerate technique which shall assist the customers to understand the market and promote accordingly. Process The process which is being followed is very simple. The customer will be able to view the product advertisement through a variety of mediums such as the Print media, digital media and other related means with the help of which, they will be able to enquire about the product and engage in its purchasing accordingly (Kotler et al. 2018). This will ensure that the customers are being able to understand the needs and purchases accordingly. People The people aspect in the promotional mix can be stated to be the people who are generally involved in the operations of the enterprise (Lovelock and Patterson 2015). Here various sales executive will be the point of contact and they shall be motivated to perform accordingly and promote the goods. Promotional budget The promotional budget of the enterprise is as follows: CAMPAIGN TYPEQTY PROJECTED COSTPER UNIT PROJECTED SUBTOTAL National AdvertisingSUBTOTA L £ 800.00 Banner Ads4£ 200.00£800.00 £- £-
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13MARKETING PLAN Local AdvertisingSUBTOTA L £ 2,000.00 Newspaper10£ 200.00£2,000.00 £- Public RelationsSUBTOTA L £ 8,400.00 Client Events3£ 200.00£600.00 Sponsorships6£ 1,000.00£6,000.00 Press Releases6£ 300.00£1,800.00 £- Social Media AdvertisingSUBTOTA L £ 5,350.00 Twitter5£ 200.00£1,000.00 Facebook7£ 250.00£1,750.00 Pinterest5£ 100.00£500.00 LinkedIn7£ 300.00£2,100.00 Online MediumsSUBTOTA L £ 2,190.00 Website4£ 300.00£1,200.00 Mobile App5£ 100.00£500.00 Mobile Alerts7£ 70.00£490.00 £- Traditional AdvertisingSUBTOTA L £ 8,200.00 Online3£ 200.00£600.00
14MARKETING PLAN Print2£ 300.00£600.00 Outdoor4£ 1,500.00£6,000.00 Radio2£ 110.00£220.00 Television4£ 195.00£780.00 £- £- Web UsageSUBTOTA L £ 3,060.00 Pay-Per-Click Marketing6£ 210.00£1,260.00 SEO6£ 300.00£1,800.00 £- £- Total£30,000.00 PROJECTED SUBTOTAL National AdvertisingLocal AdvertisingPublic Relations Social Media AdvertisingOnline MediumsTraditional Advertising Web Usage Cost benefit analysis
15MARKETING PLAN Costs for expansion Cost Items20202021 Expansion costs£10,000£100,000 HR costs Legal costs Technology involved£200,000 Modifications cost Operations and Contingencies involved£50,000£150,000 Project Total Cost by Year£260,000£250,000 Benefits Benefit Sources20202021 Cost Reduction due to efficient operations£20,000 Enhanced Revenues involved£3,000£ 220,000 Increase brand image£23,000£ 300,000 Decreased Overhead and other expenses Total Benefits Per Year£46,000£ 520,000 Confidence factor100%100% Benefits Claimed for Analysis£46,000£ 520,000
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16MARKETING PLAN Hence, it can be clearly witnessed that this shall lead to adequate revenues and the firm shall recover its costs easily.
17MARKETING PLAN References Ang, S.H., Benischke, M.H. and Doh, J.P., 2015. The interactions of institutions on foreign market entry mode.Strategic Management Journal,36(10), pp.1536-1553. Armstrong, G.M., Kotler, P., Harker, M.J. and Brennan, R., 2018.Marketing: an introduction. Pearson UK. Atwal, G. and Williams, A., 2017. Luxury brand marketing–the experience is everything!. InAdvances in luxury brand management(pp. 43-57). Palgrave Macmillan, Cham. Babin, B.J. and Zikmund, W.G., 2015.Essentials of marketing research. Nelson Education. Chaffey, D. and Ellis-Chadwick, F., 2019.Digital marketing. Pearson UK. Clow, K.E., 2016.Integrated advertising, promotion, and marketing communications. Pearson Education India. De Mooij, M., 2018.Global marketing and advertising: Understanding cultural paradoxes. SAGE Publications Limited. Deepak, R.K.A. and Jeyakumar, S., 2019.Marketing management. Educreation Publishing. Gcimagazine.com2020.Russianmarket[online].Availableat: https://www.gcimagazine.com/marketstrends/regions/easterneurope/The-Russian-Beauty- Market-by-the-Numbers-499095741.html(Retrieved on: 24 Mar. 2020). Greenpeople.co.uk2020.Organicmascara[online].Availableat: https://www.greenpeople.co.uk/shop/by-product/organic-make-up/organic-mascara-products (Retrieved on: 24 Mar. 2020).
18MARKETING PLAN Haider, A.A., Zafar, A., Khalid, A., Majid, A., Abdullah, M.A. and Sarwar, M.B., 2017. Marketing Management.Head, B, p.22. Hastings, G. and Stead, M., 2017.Social marketing. Taylor & Francis. Keegan, W.J., 2017.Global marketing management. Pearson India. Kotler, P., Keller, K.L., Ang, S.H., Tan, C.T. and Leong, S.M., 2018.Marketing management: an Asian perspective. Pearson. Lovelock, C. and Patterson, P., 2015.Services marketing. Pearson Australia. Morrison, A.M., 2018.Marketing and managing tourism destinations. Routledge. Peattie, K., 2016. Green marketing. InThe marketing book(pp. 595-619). Routledge. Statista.com 2020.Canadian market[online]. Available at:https://www.statista.com/search/? q=Cosmetics+industry+in+Russia&Search=&qKat=search(Retrieved on: 24 Mar. 2020). Tuten, T.L. and Solomon, M.R., 2017.Social media marketing. Sage. Wilson, A., Zeithaml, V., Bitner, M.J. and Gremler, D., 2016.Services marketing: Integrating customer focus across the firm.