Detailed Marketing Plan for Bioderma in Singapore's Market

This report presents a comprehensive marketing plan for Bioderma in the Singapore market. It begins with an executive summary and table of contents, followed by an introduction outlining the importance of marketing for brand awareness and consumer satisfaction. The report includes a thorough company and competitor analysis, utilizing PESTLE and Porter's Five Forces frameworks, along with a SWOT analysis to identify strengths, weaknesses, opportunities, and threats. The marketing objectives and strategy formulation section covers STP (Segmentation, Targeting, and Positioning), detailing demographic, geographic, behavioral, and psychographic segmentation strategies. The report further addresses branding, product management, pricing, distribution, and integrated marketing communication management. It concludes with implementation and control strategies, referencing relevant sources and providing appendices with supporting data. The plan aims to increase Bioderma's market share and brand recognition in Singapore by targeting women aged 18-65 in the upper-middle and upper classes, focusing on online retailing and social media marketing.

BIODERMA MARKETING PLAN
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1. Executive Summary
Marketing plan incorporates all aspects of marketing activities which is undertaken by an
organisation. In the current analysis, Bioderma’s marketing plan for Singapore’s market has been
devised. Bioderma is a leading skincare and cosmetic brand in France; it offers its products
world over. Singapore offers a lucrative market for Bioderma; hence it aims at devising a
marketing plan for expanding its market share. The elements of marketing plan include
competition analysis, strategy formulation, product management, pricing management, branding
mix and communication plan. Bioderma is a well-known skincare and cosmetic brand. It can
easily achieve a high market share in Singapore due to the presence of several conductive
factors. Bioderma needs to continue catering to the same demographic segment that it earlier
used to cater to. Each of its product categories is well placed within the demographic segment.
Bioderma needs to expand its current distribution of products to include tie-ups with retail
distributors. It needs to make it products easily assessable in suburban locations as well.
Bioderma needs to position its beauty and skincare products by advertising with Singapore
models so that locals can relate to the products. The marketing needs to include extensive
advertising strategy for Singapore. Bioderma can be advertised as the most accepted brand in
Singapore. The social media marketing strategy need to be interactive, which attends to customer
queries, so that the psychological segment can be better targeted. The target customer segment
for Bioderma consists of women in the age group 18 years to 65 years of age. These women
belong to upper-middle and upper class. Bioderma need to overcome its only challenge of low
market share that it faces in Singapore is that of brand recall and brand recognition, through
extensive online marketing and social media promotional strategies, Bioderma can easily
overcome it.
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Table of Contents
1. Executive Summary 2
Table of Figures 3
Table of Tables 4
2. Introduction 4
3. Company & Competitor Analysis 5
3.1 Company Analysis 5
3.2.1 External Factors Analysis - PESTLE 6
3.2.2 Internal Factor Analysis- Porter’s 5 Forces of Competition 7
3.3 SWOT Analysis 9
4. Marketing Objectives & Strategy Formulation –STP 10
4.1 Segmentation based Strategy 11
4.2 Targeting 12
4.3 Positioning 12
5. Marketing Strategy Formulation – Branding & Internal Branding 14
6. Product Management 14
7. Pricing Management 15
8. Distribution Management 15
9. Integrated Marketing Communication Management 15
10. Implementation & Control 17
11.0 Conclusion 18
12. Referencing 19
13. Appendices 20
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Table of Figures
Figure 1: External Factor Analysis-PESTLE 7
Figure 2: Porter's 5 forces of Competition 8
Figure 3: Marketing STP 10
Figure 4: Segmentation of Market for Bioderma 11
Figure 5: Positioning Map of Bioderma 13
Figure 6: Integrated Marketing Communication Management 16
Table of Tables
Table 1: Bioderma SWOT Analysis 9
Table 2: Gantt Chart for Marketing Plan 20
Table 3: Budget for Marketing 21
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2. Introduction
Marketing incorporates an integral function for any organisation to position its brand and create
consumer awareness (Baker, 2016). A marketing plan allows communicating with the target
customer set and aims at meeting customer satisfaction through accomplishment of Bioderma
objectives. In the current analysis, a marketing plan for Bioderma has been developed for its
existing products in Singapore. Singapore offers one of the leading markets for cosmetics in
Asia. With high population and increasing income propensity, the market offers an ideal location
for various offshore brands (Chernev, 2018). Rising diverse population provides a socially
beneficial factor for Bioderma, as the Company will have diverse segments to offers its products.
Bioderma thus, faces competition from local as well as from foreign brands in Singapore. Some
of the foreign brands that are present in the country are Korean brand Dreamage, Sephora,
Glossier, the honey combers, Marie France and so on. Some local brands include Faux Fayc,
INGA by 27A, 13rushes, Zahara, DrGL, Reflections Organics and so on. Industry analysis of the
make-up and skincare products brands in Singapore reveals presence of tremendous competition
amongst the participants in the market. The current marketing proposal includes a detailed
product and pricing analysis, along with competitor analysis to arrive at a suitable marketing
plan for the products of Bioderma.
3. Company & Competitor Analysis
3.1 Company Analysis
Bioderma Laboratories is French pharmaceutical brand, specializing in medical and
dermatological hair, scalp and skin products. The headquarters of Bioderma is located in Aix en
Provence, France and was founded by Jean-Noel Thorel. Bioderma employs approximately 1000
employees. Bioderma specializes in biometrology lab and development of skincare research and
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development. Some of its products include ABCDerm, Atoderm, and Photoderm. Bioderma
offers at various locations in the world including Asia, Middle East, Europe, Africa and America.
The brand is well-known in the locations that it offers its products and has high acceptance
amongst its customers (Bagozzi, Rosa, Celly & Coronel, 2018). In Singapore Bioderma has a
stable market share, a marketing strategy will aim at increasing the market penetration in
Singapore. In the current marketing plan analysis Bioderma’s products in Singapore has been
taken into consideration and developed.
Bioderma is one of the most well positioned brands in Singapore. Amongst the several foreign
brands available in Singapore, Bioderma is one of the leading. However, recent surge in local
cosmetic and beauty product companies have led to deteriorating position for Bioderma in the
market. Therefore, taking into consideration the tremendous market potential in Singapore,
Bioderma needs to conduct extensive marketing activities for its various products. As
Bioderma’s position in Singapore’s market has deteriorated considerably, the brand needs to
consider extensive marketing activities for re-positioning of its brand. The below depicted
position map is prepared according to market share data found in online sources.
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Figure 5: Positioning Map of Bioderma
Source: Author
The beauty and skincare market in Singapore is dominated by foreign brands from France,
America, Japan, and Korea. These foreign brands had been since long one of the favorite brands
in the country, until recently there has been a surge in home grown cosmetic and make-up brands
(Calder, Malthouse & Maslowska, 2016). Rising diverse population provides a socially
beneficial factor for Bioderma, as the Company will have diverse segments to offers its products.
Singapore is a democratic country, which is politically stable. Bureaucratic influences are
minimum in the country and offers conducive platform for businesses to set up their operations.
Presence of tremendous market opportunities in Singapore, has led to setting up of local stores
and online shops to meet the unique needs of the multi-ethnic population. Economically
Singapore is a stable country with Singapore Dollar as its currency and low rate of inflation. The
economic factors of the country are conducive for business to expand and set up their operations
there. A detailed understanding of the competition forces affecting Bioderma can be understood
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13rushes
Bioderma
Faux Fayc
Sephora
INGA by 27A

by means of external analysis- PESTLE and industry based analysis or Porter’s 5 forces of
competition. Internal analysis of Bioderma is conducted by means of SWOT analysis. As the
external analysis for Bioderma has already been undertaken earlier, a more detailed SWOT is
undertaken here. Presence of intense competition amongst the industry participants includes local
brands as well as foreign brands. Moreover, the attractiveness in the market aims at attracting
new companies. Factors for setting up business in Singapore are conducive hence more
indigenous businesses are being set up in the country. The buyers in the market have plenty
amount of choices of skincare and cosmetics brands to select from. Supplier’s aims at having
stale relationship with large multinationals such as Bioderma, hence Bioderma experiences
minimum threats from its suppliers. There is low to medium threat that is experienced from
substitute products, as consumers in Singapore are extremely conscious of the brand that they
select for skincare usages.
SWOT Analysis
The internal analysis of Bioderma can be best analysed by means of SWOT (Strength,
Weakness, Opportunity and Threat analysis. SWOT analysis can allow devising of a better
marketing plan. It can allow overcoming of the threats by conversion of strengths in appropriate
areas. It can overcome its weaknesses and convert them into opportunities for Bioderma. The
current SWOT has been developed for market in Singapore only, as included below;
Table 1: Bioderma SWOT Analysis
Strength
➢ Extensive R& D
Weakness
➢ In-depth knowledge of Singapore
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➢ Well-established brand name
➢ Presence of financial resources
market dynamics absent
➢ Cultural and language barrier between
France and Singapore
Opportunity
➢ Increasing diverse population in
Singapore
➢ Rising propensity to purchase cosmetic
and beauty branded products
➢ Increase in income amongst population
in Singapore
Threat
➢ Large number of local beauty and
cosmetic companies present
➢ Rising stringent laws and regulations
in Singapore
Source: Author
4. Marketing Objectives & Strategy Formulation –STP
Analysing market capability in Singapore and industry based competition reveals presence of
tremendous potential for Bioderma. The company has to aim at marketing its product so that it is
able to establish its brand name in the market. Some of the marketing objectives of the Company
are;
➢ To increase brand recognition in Singapore by online retailing
➢ To include newer marketing concept to attract targeted customer segment by
personalization experience
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➢ To achieve marketing goals over a period of 1 to 2 years’ time period by means of
social media
In consideration with the above stated objectives, a marketing strategy has to be devised that
aims at accomplishing the objectives. Developing a marketing plan for the purpose of meeting
the stated objectives can be conducted through by analysis for Bioderma.
Figure 3: Marketing STP
Source: Author
4.1 Segmentation based Strategy
Analysing the marketing segment of Singapore demographically, behaviorally, geographically
and psychologically reveals the need for the following strategy.
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Segmentatio
n Targeting Positioning

Figure 4: Segmentation of Market for Bioderma
Source: Author
Demographic Strategy: Demographically Singapore has a diverse population; Bioderma needs to
market its various products simultaneously. Moreover, presence of different age group in the
population provides opportunity to Bioderma to present various products in the Singapore
market. However, due to the higher price category of the products of Bioderma, it will need to
remain confined to the middle-upper and upper class category for its products. Bioderma needs
to continue catering to the same demographic segment that it earlier used to cater to. Each of its
product categories is well placed within the demographic segment.
Geographic Strategy: Singapore is a city with intense population. There is no suburb location in
the country; hence Bioderma needs to make available its products at most retail outlets across the
city. Bioderma needs to expand its current distribution of products to include tie-ups with retail
distributors. It needs to make it products easily assessable in suburban locations as well.
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Market
Segment
Demographic
Psychographic
Behavioural
Geographic

Behaviour Strategy: Analysing the behavioral segmentation reveals beauty consciousness
amongst the population in Singapore. Hence, Bioderma need to devise its marketing campaign
aiming at enhancing the beauty of the population. Bioderma needs to position its beauty and
skincare products by advertising with Singapore models so that locals can relate to the products.
The marketing needs to include extensive advertising strategy for Singapore.
Psychological Strategy: The psychological segmentation reveals that most women are attracted
to foreign brands for their beauty related products. Hence, Bioderma can market its products as
French Company, which conducts R&D activity for Singapore population. Bioderma can be
advertised as the most accepted brand in Singapore. The social media marketing strategy need to
be interactive, which attends to customer queries, so that the psychological segment can be better
targeted.
4.2 Targeting
The targeted market segment reveals potentiality in growth of the current market segment. There
is present tremendous potentiality amongst each target segment to expand in the coming years.
With ever increasing migrant population in Singapore, there is a vast opportunity to extend
varied products to customers. The target customer segment for Bioderma consists of women in
the age group 18 years to 65 years of age. These women belong to upper-middle and upper class.
Moreover, the rising service class and entrepreneurs in Singapore reveals increasing propensity
to spend amongst customers. Growing income levels in developing Asian countries is a
conducive factor that offers opportunity to Bioderma to expand its marketing proposition. The
marketing activities of Bioderma need to encompass traditional as well as contemporary methods
of marketing. The brand in order to develop a sizable market share needs to accommodate a
social media marketing strategy which includes Facebook, Instagram and Twitter promotions
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