University Marketing Plan: Nivea Sunscreen Product Launch Strategy

Verified

Added on  2020/03/16

|7
|1470
|1102
Report
AI Summary
This marketing plan analyzes the launch of Nivea's new SPF 50 sunscreen product in Australia. It begins with a brand introduction and outlines the product's features, including its immediate absorption formula and benefits like collagen protection and moisture restoration. The plan sets marketing objectives such as product differentiation, brand building, customer acquisition, and promotion through various channels. It identifies both primary and secondary target markets, emphasizing niche marketing and specific sales areas. The report then analyzes the competitive landscape, focusing on Garnier as a key competitor, and details the marketing mix (price, product, place, and promotion). The pricing strategy is highlighted as the most influential element for market capture. The plan concludes with references to relevant marketing theories and research.
Document Page
Running head: MARKETING PLAN
Marketing plan
Name of the student
Name of the university
Author Note:
tabler-icon-diamond-filled.svg

Paraphrase This Document

Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Document Page
2
MARKETING PLAN
Table of Contents
Brand Introduction...........................................................................................................................3
Objective with the New Product......................................................................................................3
Primary and Secondary Target Market............................................................................................4
Main Competitor and their Product.................................................................................................5
Marketing Mix.................................................................................................................................5
Most Influential 4P’s for Capturing the Market..............................................................................6
References........................................................................................................................................7
Document Page
3
MARKETING PLAN
Brand Introduction
Nivea is a Germany based personal care brand that manufactures specialized skin care
products. The German skin care giants are planning to launch an exclusive sunscreen product
named Nivea protect and moisture sun lotion within a few days. The specialized brand of
sunscreen has been designed particularly for use in scorching hot sunlight. With a protection
level of SPF 50 the product will garner huge attraction in the market once it is launched in the
market. The immediate absorption formula of the mentioned product provides the users with an
advanced form of collagen protection that resists the formation of wrinkles. The application of
the product restores the lost moisture of the skin that tends to dry out due to the immense heat
caused as a result of exposure to the sun. The manufacturers claim the product to be non-oily,
non-greasy and resistant to water or any other liquids. The product has a price range of $ 10.39 in
Australia. Its reasonable price will surely attract a lot of people who are familiar to Nivea
products and also the people who are willing to buy it for testing the product. The management
of the company has to formulate a proper marketing strategy before the introduction of the new
product in the market (Hunt 2014). This will be helpful in successfully marketing the product.
Objective with the New Product
The marketing team of the company must fix some objectives for the new product. Some
of the objectives that the product should have are;
1. Differentiating the product- The differentiation of the sunscreen with the other similar
products of the market is one of the key elements of marketing the product successfully.
Document Page
4
MARKETING PLAN
The product must be differentiated on the basis of the quality and the additional features
that the product brings in with (Hunt 2014).
2. Building a Brand – The marketing team assigned to market the product must use the
product to establish the brand or build on it (Tantalo and Priem 2016). The brand serves
as a promise to the customers. The new product is a follow up to the earlier range of
Nivea Sun Screen products but has an entirely new range of features. Therefore the
following product must be aimed to build a brand name for the product.
3. Acquiring the Customers- The marketing strategy should be used in such a way sop that
it can acquire a large group of customers in a short span of time. It will be much wiser to
spend money on potential customers rather than targeting the money towards the
unwilling customers.
4. Promoting the product- Product promotion must be the top priority of the company as
because it has been designed to suit some specific needs of the customers (Wilson et al.
2014). Thus a proper promotion model will help to display all the features of the new
product to the customers. A number of different channels can be used to promote the
product which includes digital media, print media, social media, public promotions and
many more as such.
Primary and Secondary Target Market
Primary Target Market is the specific group of consumers that the company wants to
target for buying a specific product or service of the organization. The management of Nivea has
to fix the primary target market of the product (Tantalo and Priem 2016). The target market of
Nivea sunscreen will be based on market segmentation of which information will be collected
from the database of the company. The company may also choose a specific area of sales where
tabler-icon-diamond-filled.svg

Paraphrase This Document

Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Document Page
5
MARKETING PLAN
sale of sunscreens has been exceptionally well. Primary target market also involves niche
marketing in which Nivea identifies a handful of loyal and trusted customers for presenting a
quality marketing of the product to them.
Secondary target market is the second most important target group of customers that the
mentioned company may focus to promote and sell their new range of sunscreen. However in
this particular case the company has little interest to promote the product in markets that have
shown less growth in the past and has rather concentrated in promoting the product through
primary marketing (Möller and Parvinen 2015).
Main Competitor and their Product
Garnier is one of the main competitors of Nivea in the global market. The main product
of Garnier sun screen is the Garnier Skin Naturals Sun Control Moisturizer. The following
product has more or less the same qualities in comparison to Nivea but has the advantage of
being much cheaper than that of Nivea Sunscreen to be launched by the aforesaid company.
Marketing Mix
a. Price- Price of the mentioned sunscreen though reasonable is much costly than many
other products currently existing in the market. However the better quality of the products
along with the provider of great values for every single product. The market value of the
product thus has a crucial role in the determination of marketing strategies for the
particular sunscreen lotion.
b. Product- Nivea has a vast range of products for selling in Australia. The product here
mentioned is a premium quality sunscreen that is set to be launched in a few days. The
Document Page
6
MARKETING PLAN
premium features of the sunscreen will make it a must buy for all the people who tries to
avoid the scorching summer sun (Kumar 2015).
c. Place-Nivea has a wide presence in the whole of the island nation. As mentioned earlier
the management of the company has to undertake a thorough analysis on the sales report
of the present sunscreens of the same company. The area where the sales are the highest
must be given priority for promoting the products. However when the sales figures
stabilizes it is better to promote the products in lesser known markets where the sales
figure isn’t that good enough (Knight and Liesch 2016).
d. Promotion- Promoting the latest sunscreen is a huge challenge for the mentioned
organization because of the reputation of Nivea in Australia. The company has to
promote the product in such a way that it reaches the customers of the organization.
Most Influential 4P’s for Capturing the Market
The most influential among the 4P’s of marketing in this particular case is the pricing
strategy of marketing. The price of the sunscreen has been kept reasonable considering some
sharp criticisms during the launch of the earlier sunscreen product of the same organization. The
cost effective pricing model has been selected by the organization in this respect and thus it will
be a significant marketing element for capturing the market in a very short period of time as
because both the loyal as well as some of the new customers will be buying the product.
Document Page
7
MARKETING PLAN
References
Hunt, S.D., 2014. Marketing theory: foundations, controversy, strategy, and resource-advantage
theory. Routledge.
Knight, G.A. and Liesch, P.W., 2016. Internationalization: From incremental to born
global. Journal of World Business, 51(1), pp.93-102. Baker, M.J. and Saren, M. eds.,
2016. Marketing theory: a student text. Sage.
Kumar, V., 2015. Evolution of marketing as a discipline: What has happened and what to look
out for. Journal of Marketing, 79(1), pp.1-9.
Möller, K. and Parvinen, P., 2015. An impact-oriented implementation approach in business
marketing research: Introduction to the Special Issue on “Implementing Strategies and Theories
of B2B Marketing and Sales Management”. Industrial Marketing Management, 45, pp.3-11.
Tantalo, C. and Priem, R.L., 2016. Value creation through stakeholder synergy. Strategic
Management Journal, 37(2), pp.314-329.
Wilson, S.R., Whitmoyer, J.G., Pieper, T.M., Astrachan, J.H., Hair, J.F. and Sarstedt, M., 2014.
Method trends and method needs: Examining methods needed for accelerating the field. Journal
of Family Business Strategy, 5(1), pp.4-14.
chevron_up_icon
1 out of 7
circle_padding
hide_on_mobile
zoom_out_icon
[object Object]