Marketing Strategies for Dove: New Product Launch Report

This report provides a comprehensive analysis of Dove's marketing strategies, focusing on the launch of their new product, "Dove Foundation." The report begins with an introduction to marketing principles and provides background information on the Dove brand, including its history and existing brand values. It then utilizes the Ansoff matrix to outline the company's product development strategy and identifies the target market for the new foundation. A PESTEL analysis is conducted to assess external factors affecting the business, followed by a comparative analysis of Dove against its competitors. The report concludes with an explanation of the new product, highlighting its features and target audience, and summarizing the key findings and recommendations for the company's marketing approach.

PRINCIPALS OF
MARKETING

TABLE OF CONTENT
Introduction
Background of Dove
Existing brand value
Ansoff
Target market
Pestle analysis
Conclusion

EXECUTIVE SUMMARY
This report is aiming about the principals of marketing in which the brand which
is taken is Dove company. In this report company wants to launch new product
called “Dove Foundation”. This report covers background of the Dove brand,
existing brand values and brief explanation of the new product. This is done
through Ansoff matrix. Then it covers identification of proposed target market
and external issues which can affect the company in introducing new product. It
also covers comparative analysis of the company.

INTRODUCTION
Marketing principals are the principals which are used by the
companies for effective marketing strategies. Principals of
marketing refers to the 4Ps of marketing mix which is product,
price, place and promotion (Hulka and Nikitenko, 2020). Dove is the
personal care company owned by Unilever established in US

BACKGROUND OF DOVE
Dove is the skin care company which was founded in the year
1957. Firstly, company was introducing beauty soup bars but later
on it also started personal care products such as body lotions,
deodorants, shampoos etc. in its product line. Company became
most popular in Brazil in 2019 and earned customer reach points of
bout 100 millions. Brand has 29.52% of market share in US and
10.05% in Canada market. Now brand is operating in more than
150 countries ll over the world. Also, it adopts effective marketing
strategies to increase it sales and revenue.

EXISTING BRAND VALUES
Dove has ran its first advertisement in 1957 with the view of
increasing sales and profit margin. It was advertise in such a
manner that it attract more customers. Like beauty soups doesn't
leave dryness on body. Company's management uses very effective
way to promote their products and produce high quality of products
which helps the company in gaining competitive advantage in the
market (Kubacki and Szablewska, 2020). There is brand own
websites to provide information to the customers and latest offers
and discounts. Company uses various trending techniques to
increase its profitability.

ANSOFF MATRIX
Ansoff matrix is used for better understanding of upcoming
opportunities and threats to business organisation. It includes four
strategies:
Market penetration: In this strategy company introduces existing
product in existing market to increase the sales of the product. This
require various strategies that is used by the company to promote
its product through various platforms.
Product development: In this strategy company introduce new
product into the existing market. This is to provide new quality of
product to the customers and also they can charge premium price
for that product.

CONTINUE
Market development: This strategy focuses on delivery of existing
product into the new market. It is used when company wants to
expand in different location to attract more customers and save
their cost (Lin, 2020).
Diversification: This is the very risky strategy as in this company
launches new product into the new market.
As, Dove brand wants to introduced new product into the
market so this will come under the Product development strategy.
As company wants to launch new product to attract new customers
and to increase their sales and revenue.

IDENTIFICATION OF TARGET
MARKET
Target market is the identification of those potential customers who
are eager to buy the product or services. Target market consist of
STP approach which is discuss below:
Segmentation: This is the first approach of target market. In this
customers are segmented according to the behaviour and
demographics.
Targeting: When all customers are segmented then marketers
identifies the potential customers according to the segments or
groups. It helps the company in identifying target market.
Positioning: Then last is the positioning of the selected segments is
done. For example- Dove has categories its products according to
potential of the customers (McDivitt, 2020). Also, it make products
like body lotion, soap etc. that helps the customers in leaving

PESTEL ANALYSIS
This analysis focuses on the external environment which
can affect the business performance and its profitability.
Political: Government policies such as labour hiring, taxes
can affect the business environment of the company.
Economical: Economical factors like unemployment and
inflation rate can affect the business environment. As dove
products prices are generally higher as to the other brands
in the market.

CONTINUE…
Social: Social factors includes customer
taste and preferences which can affect
the business in severely. Because
company has several competitors. So if
company does not provide quality of new
product then customers may shift to
other brand (Šerić, Ozretić-Došen and
Škare, 2020).
Technological: Modern technologies help
the company in saving time and efforts of
the employees. And also this attract more
customers. So for the production of new
product company should use latest
technology.

COMPARATIVE ANALYSIS
Dove is the skin and personal care company in the world. It share
29.52% of total market share in US. As it has many more
competitors such as Sunsilk, Himalayas, Loreal and Nivea etc. these
company also produce similar products like Dove. So this can be
the biggest challenge for the company to compete with its
competitors. Company needs to produce quality of new product to
gain competitive advantage in the market. Gaining competitive
advantage can helps the company in building reputation in front of
customers and also increase profits and revenue (.Thaichon and
Ratten, 2020).