Marketing Communications Plan for Goldwell's New Hair Spray Serum

Desklib provides past papers and solved assignments. This report analyzes Goldwell's new hair serum's marketing strategy.

Principles of marketing and
communications in a digital world
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Contents
INTRODUCTION.........................................................................................................3
TASK 1 DESCRIPTION OF THE NEW PRODUCT....................................................4
TASK 2 ANALYSIS OF THE MARKET CONCERNING THE NEW PRODUCT........5
TASK 3 STRATEGY FOR THE SEGMENTATION, TARGETING ALONG WITH
THE POSITIONING OF THE PRODUCT....................................................................8
TASK 4 MARKETING MIX OF THE PRODUCT......................................................10
CONCLUSION..........................................................................................................13
REFERENCES..........................................................................................................14
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INTRODUCTION
Digital marketing is like the umbrella term which makes the use of the digital tools in
order to promote as well as market the products or the services offered by the brand
or the organisation. Since mostly every business houses and also the customers are
becoming more and more reliant on the communications are done through digital
media, power and importance of digital marketing got a hike. In this particular
assignment, the new hair product is been developed by the Goldwell which is a new
spray hair serum. A brief analysis of the market of this new product is been done
along with setting up of the strategies concerning the targeting, segmentation as well
as the positioning of the new product launched. Also, the marketing mix is been
prepared for the launch of the new product.
Goldwell ltd. is the company manufacturing the hair cosmetics products which help in
the hair styling arts as well as hairdressing and have its main focus on the carefully
created and the expert research hair care products. They work in partnership with
the cosmetics and formulation scientist. The products offered by the Goldwell is been
loved by all the customers and is a proud British brand especially concerning the hair
colours.
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TASK 1 DESCRIPTION OF THE NEW PRODUCT
Goldwell new spray serum helps in maintaining the all-time hair colour problems of
the girls by eliminating the colour fading along with taming the flyaway given hairs
the gorgeous smooth and glossy look anywhere and everywhere (Goworek et al.,
2015). All one needs to do is the shake the bottle and spray on the hairs for
safeguarding the hair colour by giving them the super smooth, glossy and the
gorgeous look. The product contains the vitamin B fortified liquid which helps in
keeping the hair moisturised by cutting away the frizz and provide the hairs with
those super glossy looks giving the hairs that salon finish looks anywhere without
actually even after days of colouring (Goworek et al., 2015).
Therefore it can be said that the Goldwell hair spray serum is a product one of its
own kind. Which helps in giving the salon finish looks to the hair with just a spray. It’s
very irritating when people spend time and money in colouring up their hairs and it
starts fading. Goldwell new hair spray serum helps in polishing and illuminating the
hairs with shine so as to maintain the brilliant looking colour. It also conditions the
hair and helps in sealing the hair colour and is very easy to use. You just have to
shake well before spraying and then mist lightly on the moist hair and need not rinse
(Armstrong et al., 2015).
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TASK 2 ANALYSIS OF THE MARKET CONCERNING THE NEW
PRODUCT
In order to analyse the market concerning the Goldwell, PESTEL analysis is been
conducted.
Political factors
The political factors comprise of the policies and the rules of the geographical area
where the Goldwell is been operating. Since the company is Eastbourne based, the
government policies of the Eastbourne Government have the maximum effect on
Goldwell (Opreana and Vinerean, 2015). Also with the increase in the globalisation
with the help of the digital world, political factors have a positive effect on companies
like Goldwell.
Economic factors
The economic factors consist of the exchange rate of the UK along with the
recession’s element which also helps in upbringing the hair colour product market.
Apart from the already discussed factors, price of the product also plays an important
role as the price of the products varies as per the geographical locations, for
example, in some of the geographical locations the hair colour products can be
bargained for high price due to the high hair care product business in that particular
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area therefore in the developed states, the product can be sold for a higher price as
people have better and high standard of living so they are more chances that the
people will get attracted to the new product and will try it (Heinze et al., 2016).
Social factors
The social factors comprehend the technical trends that are running in society
recently. As per the modern society is been concerned, everyone is getting
conscious of their looks and wants the best for themselves. So the people who are
up for trying the new products for themselves will surely love the new product by
Goldwell (Heinze et al., 2016). One more reason for which the product can gain the
popularity is the use of all the natural ingredients in the hair spray serum which will
help in getting the attention of the people who do not like to use the chemical mixed
products (Evans, 2016).
Technological factors
Technology is corollaries in every sphere of life. Therefore for the companies like
Goldwell, the technology is deliberated as the characteristic for innovation along with
trust which plays a great role (Chaffey and Ellis-Chadwick, 2019). Goldwell is very
much into innovation and usually, it follows the contemporary trend of using the
natural raw materials in the preparation of the hair colour products. The technology
helps in giving the boost to apply the innovation within a fraction of time and there
are customers who are conscious about their hairs so they prefer quality and organic
products over the chemical ones so it helps in enhancing the business of the
Goldwell (Chaffey and Ellis-Chadwick, 2019).
Legal factors
There are many global as well as local competitors for the Goldwell, and in order to
maintain the success graph, it is important for Goldwell to fulfil all the legalities
implied in the region where the Goldwell works (Kotler et al., 2015). Goldwell is the
brand that is used by the elite customers who prefer organic colours so these
customers are also concerned regarding the legit stuff of the company. This factor
holds very much importance when brands like Goldwell are concerned (Kotler et al.,
2015).
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Environmental factors
The environmental factors incorporate various global environmental safety laws that
must stand by global standards (Ernst and Dolnicar, 2018). The World is now doing
so many efforts in making the planet a beautiful and pollution free space. In this
standpoint, all the brands and the organisations are frolicking their role in displaying
the backing to the world. Goldwell also becomes participates in such campaigns and
try to follow the world norms. Goldwell is one of the famous brands in the UK,
therefore it becomes very important to understand the internal factors along with the
external factors that affect the company so as to make the proper strategies (Ernst
and Dolnicar, 2018).
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TASK 3 STRATEGY FOR THE SEGMENTATION, TARGETING
ALONG WITH THE POSITIONING OF THE PRODUCT
Market segmentation
Market segmentation can be described as the process by which the market is been
divided into the potential customers basically into groups as well as segments which
are typically based on lot many heterogeneous characteristics (Camilleri, 2018). The
segments that are being created are mainly composed of the homogenous
customers which means they might have the similar response towards the implied
marketing strategies and also they have same characteristics as they belong to the
same location, or have similar interests etc. (Camilleri, 2018).
Some of the different kinds of the variable that are been used for doing the market
segmentation for the new hair spray serum by Goldwell are:
 Use of the demographic variables
Demographic variables include the personal details of the person like the
location, gender, education, family size etc. There are few customers who like to
be seen in a similar version like others while there are few who wants to stand
different from others. The segmentation for the new hair serum by Goldwell is
done where there are more youth as well as people will higher income group are
located (Andaleeb, 2016).
 Segmentation on the basis of behaviour
Another basis for the segmentation is the behaviour of the customers, for
example, some of the customers are brand loyal which means they also prefer to
use the brand they prefer regardless of the fact that competing for the brand is on
sale. There are two kinds of users' i.e. light and heavy users of brands. Similarly,
there are many customers who only prefers using Goldwell hair colours so that
segment was one of the marketing base (Andaleeb, 2016).
 Segmentation on the basis of the benefits of the product
One more of the segmenting criteria is the customers seeking the benefits from
the products like some of the customers are inclined towards using the products
having the synthetic materials while the other groups prefer using the natural
material products. Most of the Goldwell users want their hair colour look intact
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throughout therefore they will surely try the new serum because of its benefits
(Andaleeb, 2016).
Market targeting
Market targeting basically involves the dividing of the market into smaller segments
and then focusing on one or more significant segments that consist of the consumers
to whom the product will be useful to fulfil their need or the demand. It can act as the
key to increasing sales by attracting new customers and making the business a huge
success (Camilleri, 2018).
In the next step, Goldwell decides on targeting more than one segments and the
choice of the segments by the Goldwell was based on many factors. Firstly, how well
the competitors are serving the already existing segments because it will be difficult
to attract the customers or the segment which is already satisfied with the existing
services provided to them. The second factor in concern is the largeness of the
segment and what are the growth chances of the segment (Camilleri, 2018). Third
and foremost factor is that do the Goldwell have the strength to appeal to only one
consumer group. Goldwell already has strong built goodwill to maintain.
Market positioning
Positioning refers to the brand’s place in the customer’s mind and also how the
product offered by the Goldwell is different from others (Camilleri, 2018). Therefore
in order to position the new hair serum by the Goldwell, they mainly highlighted the
characteristics of the hair serum which makes it different from other serums.
Therefore the positioning technique which is been used by the Goldwell are:
 Positioning the new hair spray serum directly against the competitor.
 Focussing on the benefit of the serum launched and letting the customer know
the benefits that the product is designed to offer (Camilleri, 2018).
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TASK 4 MARKETING MIX OF THE PRODUCT
The Goldwell consist of the products that are designed particularly for providing the
clients with stunning results. Goldwell always tries to come up with the innovative
tools which are known for their superior suppleness (Morgan et al., 2019). Also,
Goldwell is known for streamlining their work with the help of the technical
advancement along with the service concepts that help in making the clients happy
in the salon where the Goldwell products are put to use (Morgan et al., 2019).
In order to develop a better understanding, the marketing mix is been prepared for
the newly launched product i.e. new hair serum by the Goldwell.
Product
Goldwell consists of the portfolio full of products of the international standards
covering a wide range of products which helps in the hair styling arts as well as
hairdressing in the salons (Morgan et al., 2019). This new product i.e. hair spray
serum will also help in dealing with the common hair colour issues i.e. hairs getting
rough, fading of the colour etc. The product is enriched with vitamin B fortified liquid
which helps in keeping the hair moisturised by cutting away the dryness and provide
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the hairs with those super glossy looks giving the hairs that salon finish looks
anywhere even after days of colouring. The newly launched product will complement
the range of the existing hair colour products of the Goldwell (Morgan et al., 2019).
Price
Since the target market for the new product is mainly youth and the people having
high living standards, therefore the price of the product is kept at somewhat higher
side following the philosophy of high price high quality. So in order to attract the elite
range of the customers pricing is done as per the customer targeted therefore at
different locations the product is launched for different prices (Morgan et al., 2019).
Promotion
Be it hair cosmetics or the beauty product, brands for decades now have fixed their
focus on the creation of the ideal image which acts as the aspiring image for
everyone to follow. Goldwell has adopted a very unique and different strategy for
doing the market campaign focussing on the maintenance of the uniqueness of the
individual by taking care of the hairs regardless of their choice of colour and style
(Morgan et al., 2019).
In order to promote the product, the company planned to use the digital world as
almost youth have their existence in the social world and usually are influenced by
the things they see there. Therefore it is important to mark the presence of the
product in the digital market world (Morgan et al., 2019). Also in today's time, it is
important for the companies to evaluate all the available social platforms including
the new one. This will help in providing the new product with an edge over the
competitors and also helps in the forecasting of the revenue for each and every
channel which is based on the ad revenue or the sales production. Therefore the
company have their main focus on video marketing (Steenkamp, 2017).
Place
The product is mainly for the use in the hair styling and hair arts by securing the hair
colour for the long period of time and also by giving the hairs that salon finished
glossy look throughout (Steenkamp, 2017). Therefore with all the needed product
information, the consumer is able to access the purchase of the product from any
part of the world. Even Goldwell is also focussing on the marketing of the product
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with the help of the digital platform. Therefore we can say that in this dynamic world,
internet and the social media platforms has become one of the highest accessible
outlets for buying and purchasing the product (Steenkamp, 2017).
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