Principles of Marketing Report: Dove Brand and New Product

This report provides a comprehensive analysis of Dove's marketing strategies, starting with its background and market presence in the personal care industry. It delves into Dove's advertising campaigns and identifies its proposed target market using the STP approach. The report then applies the Ansoff Matrix to understand Dove's product development strategy and examines the external environment through a PESTEL analysis. A detailed explanation of Dove's new product, "Dove Hair Serum," is provided, followed by a comparative analysis of its competitors, such as Nivea, Sunsilk, and L'Oreal. The report concludes by summarizing the challenges and opportunities Dove faces in introducing its new product and maintaining its market position. The report also includes references to academic sources supporting its analysis. This assignment is available on Desklib for students.

Principles of marketing

TABLE OF CONTENT
 INTRODUCTION
 Background
 Ansoff Matrix
 Advertising campaigns
 Identification of proposed target market
 PESTEL Analysis
 Explanation of the new product
 Comparative analysis
 Conclusion
 References

INTRODUCTION
Dove has it's existence in market since 1957, it's registration was
filled in companies registrar office by Unilever. It deals in personal
care products and have it's huge market presence. It have captured
150 countries including Australia, Bangladesh, China, Japan,
Pakistan, India, Philippines and many more. Company offers
products like body wash, beauty bars, lotions, hair care and facial
care products.

Background
The dove brand showed it's existence in market in 1957. In beginning
company was offering beauty soup bars to it's customers which later
included personal care products, body lotions, facial and shampoos in it's
product line. The brand became very popular in Brazil in year 2019 and
earned 100 million consumer reach points (CRP). It has a huge market
share of 29.52% in US, followed with 10.05% market share of Canadian
marketplace. Since companies existence it have captured huge market with
distribution of it's products across 150 countries. It also adopts timely
innovative techniques and follow market trends in order to boost up sales.

Advertisement campaigns
In 1957, dove ran it's first ever advertisement with a view point to boost
up sales of their product. The advertisement provided with fact that
companies product i.e., beauty soup bars dosen't leave skin dryness
addition to it creams skin while washing. Management of company uses
effective way for promoting their product, as they don't give contracts to
celebs for advertising product as it will result in high cost of production
and will ultimately add up to product prices. As going with trend
management adopts various trending techniques for marketing companies
product such as social media.

Ansoff Matrix
This matrix was published in Harvard Business Review in 1957. It
was aimed at providing better understandings of upcoming threats
and growth opportunities to a business firm. The four strategies
included in Ansoff Matrix are:
Market penetration: This strategy aims at increasing sales of
existing product in present marketplace. It includes various
strategies that helps management of a business firm to take various
decisions regarding product promotion with an aim of boosting up
of companies sales.

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Product Development: This strategy focuses on introduction of any
new product in existing marketplace. It provides various plans and
techniques that helps marketers of a company to launch any new
product in existing marketplace.
Market Development: This strategy aims at delivering existing
products to a new market. It helps management of the workforce to
take various decisions to set up marketing strategy keeping in mind
existence of competitors

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Diversification: This strategy aims at introducing new product in a
new marketplace. It helps management in tackling with dynamic
environment of business.
As Dove has to introduce new product in an existing market, its
higher authorities took Product Development strategy for ensuring
high sales. The marketers of company adopted this strategy to make
effective decisions ensuring proper utilization of resources. It is an
important strategy as introduction of a new product in a market
includes investments of huge resources so proper conduction of
various business activites is must.

Identification of proposed target market
Target market is the identification of the potential customers who
are ready to buy the product or services. This consist of STP
approach. This is discuss below:
Segmentation: This method is based on segmentation. As it is
determined by the behavioral or demographic segmentation.
Targeting: When all potential are identified, then marketers of the
company identifies potential customers according to the each
segment or group. For example- Dove has categories its products
according to the potential of the customers.

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Positioning: Then last positioning is done for the selected
segments. For example- Dove promotes product which helps the
customary in maintaining their body. Like shampoo, soaps
which makes soft skin (Szablewska and Kubacki, 2019).

PESTEL analysis
PESTLE analysis is the analysis of the external environment which
can affect the business environment. This is discussed below:
Political: Policies of government like taxes, labor hiring from abroad
etc. can affect the business of Dove company.
Economical: Economic factors like inflation rate and unemployment
can affect the business because Dove products prices are generally
higher as compared to other brand.
Social: Factors like customer preferences and taste can impact the
business. As they can easily shift to the other brand if they did not
find quality a good (Thomas and et. al., 2018) .
Technological: Company uses modern technologies to cope up with
the customers and to attract them. Use of modern technologies help
the company in less effort and time saving.

Explanation of the new product
Dove is the personal care brand. Now it is trying to introduce new
product called “Dove Hair Serum”. Hair serum does not contain
added chemicals. This serum will target more customers towards
the brand and helps the company in increasing its profits.
Company will provide best quality to attract more customers and
marketing strategies are designed accordingly by the company.