Marketing Strategy Executive Summary Report: Rimmel Cosmetics Analysis

This report presents an executive summary of Rimmel's marketing strategy, encompassing an introduction to the brand and its objectives. Part 1 delves into environmental analysis using SWOT and PEST frameworks to assess internal strengths, weaknesses, external opportunities, and threats, alongside political, economic, social, and technological factors impacting Rimmel's operations. The report outlines Rimmel's current marketing strategies, including its 'Get the London Look' campaign and social media engagement, and analyzes its competitive advantages against rivals like Maybelline and L'Oreal. Part 2 focuses on product rationale, specifically the introduction of a new BB cream, detailing its specifications and benefits. The report also covers segmentation, targeting, and positioning, marketing objectives, and identifies appropriate marketing strategies to achieve goals related to brand awareness, market share, and profitability, concluding with a summary of key findings and recommendations for future marketing initiatives.

MARKETING STRATEGY

EXECUTIVE SUMMMARY
Marketing strategy is a plan required to communicate with prospective buyers about
goods and services offered by an company. This activity is concerned with value proposition of
organisation, information for target audience and other related factors. These plans help in
determining the timings in which activities will be conducted. It consists of proper marketing
audit through market analysis. This is required to understand the current situation related with
target segment. It is very useful in identifying the major competitors that could give intense fight
to an organisation. To launch a new product, there is the need to adopt concept of segmentation,
targeting and positioning. These strategies play a vital role in attaining the marketing objectives
in an effective manner.

Table of Contents
EXECUTIVE SUMMMARY..........................................................................................................2
INTRODUCTION...........................................................................................................................1
PART 1............................................................................................................................................1
ENVIRONMENT ANALYSIS.......................................................................................................1
CURRENT MARKETING STRATEGIES.....................................................................................3
ANALYSIS OF COMPETITIVE ADVANTAGES .......................................................................4
PART 2............................................................................................................................................5
PRODUCT RATIONALE AND SPECIFICATION.......................................................................5
SEGMENTATION, TARGETING AND POSITIONING.............................................................6
MARKETING OBJECTIVES AND GOALS.................................................................................7
IDENTIFY APPROPRIATE MARKETING STRATEGIES.........................................................8
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................11

INTRODUCTION
Marketing is the most important activity required to enhance sales of an organisation. It is
a set of various strategies formed in order to attract target customers towards products and
services of company. To make appropriate plans in this context, it is needed that management
will conduct proper research to understand the latest trends in market. Competitors could also be
identified through this evaluation (Birkinshaw, Brannen and Tung, 2011). This report is about
Rimmel which is a cosmetic brand of UK. It is the leading organisation with large number of
trusted customers. In this assignment, proper analysis of various external and internal factors of
business environment will be done. This will assist in identifying the tastes and preferences of
people in order to make effective strategies. Rimmel wants to introduce a new range of products
and so, there is the need to set appropriate objectives. These goals must be concerned with brand
awareness, market share and enhancement of sales and profitability.
PART 1
ENVIRONMENT ANALYSIS
Rimmel is a British company involved in manufacturing of cosmetics. It is amongst the
most popular brands with high market share. Marketing is an important activity of every firm as
it helps in communicating with customers about the features of products. It is based on several
plans related with different areas and activities to enhance the sales of firm. These strategies are
concerned with various factors of external and internal surroundings. To make these schemes in
an effective manner, environmental analysis plays a major role. There are several approaches
through which this research could be conducted. SWOT and PEST analysis are important studies
that contribute in this scenario (Chaffey and Ellis-Chadwick, 2016).
SWOT Analysis
This is an important technique that is required to gather information about internal
aspects of this company. It is useful in identifying the strengths, weaknesses, opportunities and
threats of enterprise in order to make effective decisions related with marketing. Therefore,
SWOT analysis of Rimmel is as follows-
Strengths
 Rimmel is the best known brand in
UK in the sector of cosmetics.
Weaknesses
 Its cosmetics are expensive due to
which these are not suitable for
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 They are known for providing
quality products to its clients.
 Its marketing strategies are efficient
in attracting customers.
 Their innovative range of products is
another USP of this enterprise.
low income people.
 There are so many substitutes
available for cosmetics due to
which buyers get switched to
other brands.
 It has less reach in rural areas.
Opportunities
 There is huge scope in the global
market and so, this company can
launch its products in other
countries.
 By adopting adequate strategies, it
can become market leader because
of its quality products.
 Continuous innovation and creativity
in cosmetics will help in gaining
more attraction of buyers.
Threats
 There are so many companies
involved in this sector. So, there
is high level of competition that
could affect its sales in a negative
manner.
 Availability of substitutes could
affect its profit margins as
customers can buy copied
products at low price.
PEST Analysis
This analysis is required to gather information related with external environment. There
are various elements in business environment that could affect the operations and decision
making process (Cullingford and Blewitt, 2013). Studying these factors will assist the manager
of Rimmel in making appropriate marketing strategies for its products.
Political factors- This organisation is operating its business in various countries in order
to acquire a large segment of market. There is different set of rules and regulations that are to be
followed by this enterprise. Therefore, it is important that marketing strategies should be as per
the government policies.
Economic factors- These factors are related with economic conditions of country in
which this company is running its business. Buying power of customers depends on these
elements. It is very important for Rimmel to formulate effective strategies that could handle such
issues and ensure smooth functioning of business.
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Social factors- These aspects of external environment are concerned with values and
beliefs of society (Govindarajan and Ramamurti, 2011). There is a need for evaluating these
elements in order to develop products as per that the same. This organisation should make its
strategies in such a manner that it could meet tastes and preferences of society.
Technological factors- Technology is dynamic as it changes on frequent basis. It is
important for this company to upgrade its technology. This is very helpful in managing
efficiency in operations and ensuring proper fulfilment of market requirements.
Therefore, these are several aspects of external and internal environment of Rimmel.
Manager should consider such factors in making marketing strategies so that they could
effectively target people through several tools of promotion.
CURRENT MARKETING STRATEGIES
There are several strategies of marketing that are adopted by Rimmel. These schemes are
very useful for organisation to sustain in the market for longer time period. It is useful in gaining
competitive advantages and spreading brand awareness with making sure that more buyers could
be attracted towards products of this entity (Grönroos and Ravald, 2011). Rimmel started its
business as a perfumery company in the year of 1800. After that, they expanded their business by
manufacturing cosmetics. Its marketing strategies are very impressive as they have established
their famous tag line 'Get the London Look'. This is very popular amongst women of this
country. They have Kate Moss as their celebrity endorser. This company is using platforms like
television and social media for the purpose of advertising.
As per latest scenario, this firm is highly involved in social media marketing. They are
very active on media like Face book, Twitter, Instagram, Youtube etc. It is an perfect strategy as
per suitability of current market conditions (Kaplan, 2011). There are so many people who uses
such platforms so it becomes easier to target mass reach of customers in effective manner.
Hashtags and humour- Marketing department of this company very well knows impact
of hashtags. They understand that this is very personalised way of creating brand awareness. It is
important strategy of making promotion, campaign as it is easier to follow and understand.
Along with that, they uses humorous and clever phrases to grab more attention of prospective
buyers (Kastalli and Van Looy, 2013). It helps in making their campaign more impressive for an
individual.
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They are going through various social networks in order to target buyers with their
content. Their marketing is focussed towards adult female society as they understands they have
to fulfil their demands with appropriate marketing. Along with that, they celebrates several
national events such as Red Nose day with red lipstick. This contributes in effective campaigning
of their products in unique manner. Marketing strategies of this firm is concerned with every day
routine and lifestyle of people in order to attract minds of target audience with creative ideas.
There are some other strategies that this company is following-
 They are involving their female employees in decision making process. It is very useful
in bringing much better ideas about product development and marketing. An women can
effectively understand needs female consumer segment of market. They can get more
creativity and innovation to attract buyers and enhance sales of company.
 Product development is another important strategy used by marketing unit. This firm is
adopting changes in tastes and preferences of clients in order to develop cosmetics as per
their tastes and demands. It helps in updating products as per changes of market.
Therefore, this strategy is significant in attracting customers and facilitates profitability
and sales of company.
ANALYSIS OF COMPETITIVE ADVANTAGES
Competitive advantages analysis helps a company in identifying tough competitors with
whom they have to compete in order to sustain in market. It is an essential activity in process of
business expansion (Laudon and Laudon, 2015). This study helps marketing division in making
appropriate decisions to deal with this rivalry at market place. Main areas covered in this analysis
are as follows-
Competitor analysis - It includes recognizing other companies involved in same business.
This is required to identify strengths and weaknesses of existing and new competitors. It is an
important activity that assists in focussing on direct rivalry. In case of Rimmel there are various
firms that are giving tough fight to this company. Major competitors are Maybellene, Loreal and
Covergirl. These firms are indulged in manufacturing of cosmetics. Marketing strategies of these
rival companies are very effective due to which it sometimes affects sales of Rimmel.
In order to achieve competitive advantages, there is need to focus on latest market trends.
It can also be gained by analysing marketing strategies of identified competitors so that, there
strengths and weaknesses could be discovered (McGrath, 2013). There should be effective
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policies for enhancing market share of this organisation. Understanding of competitor's strategies
will assist in handling threats and grabbing opportunities that might take place in future. This
could also be done by forming policies related with growth and diversification of organisation.
Rimmel is present in cosmetics market from so many years and there are numerous loyal
customers that are consuming its products. This company is attaining competitive advantages
because of its strengths like, high quality make up range. It is effective in generating higher
satisfaction from clients (Morgan, Katsikeas, and Vorhies, 2012). There marketing strategies are
updated and efficient as per latest trends. Therefore, because of these USP of this brand, it is able
to gain attraction of target audience. It helps in enhancing their sales volume and managing brand
image in market place.
PART 2
PRODUCT RATIONALE AND SPECIFICATION
Rimmel is involved in continuous product development. There are changing needs and
demands at market place so in order to meet these trends, an organisation must focus on
developing their range in cosmetics. It is helpful in meeting requirements of customers in
effective manner. This firm is involved in making products like, lipstick, mascara, foundation,
nail paint etc. Now, they want to launch new range of facial cosmetic that is BB cream. It stands
for Blemish Balm which is used for multi-purpose. This product is required for skincare,
moisturiser, coverage of foundation, and protection from sun. It is more beneficial as compare to
normal moisturiser. As per current scenario, this cream is highly in demand because of its
benefits. BB cream is amongst hottest product in beauty segment. It is highly demanded by
young girls as they prefer this in their regular make-up routine. This product is highly efficient in
meeting multiple needs of people. Rimmel can earn huge profits by introducing this range in
market because most of the youth population is using this facial cosmetic. This cream is suitable
for following demands-
 Someone who is seeking for good value, they can use this product as it provides benefits
of moisturiser, foundation and sunscreen in single cream. Along with that, it is very
affordable in terms of price also.
 Customers who wants easy daily routine of make up then they can use this product rather
then heavy facial products.
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 If someone is looking for moisturiser and skin lightning in one cream then BB cream isc
best option for them.
SEGMENTATION, TARGETING AND POSITIONING
Every market has three types of marketing strategy which helps in developing STP for an
organisation. These strategies helps in showcasing product in new market. These aspects
facilitates business to develop and grow in market also attracts new success with competitive
advantage (Peng, 2013). Hence, Rimmel which is UK established firm and deals in cosmetics, is
planning to introduce their up coming product that is a BB Cream, in market, for it they are
framing STP strategy that helps in defining their most demand market with suitable customers.
The process of STP are as:
Segmentation
This is the first phase of strategy which is segmentation. It is very effective techniques
that are used by an organisation to grab market attention and confirms sustainability of same.
With help of segmentation Rimmel will know their market in better way and also understand
various types of market along with it they will found themselves able to provide product and
service accordingly. Rimmel are supposing to showcase their new BB Cream in to market for
that they are doing segmentation which has certain basis and on the basis of this segmentation
could be done. Bases are:
Geography: here, product will be distributed on the basis of geographic region for that
Rimmel will gather all information of geographic region and begin their product development
accordingly company will take care requirement of customers (Ronda‐Pupo and Guerras‐Martin,
2012). As an example person whom are staying in ruler area then they will not buy it as compare
to urban area.
Demography: Segmentation on demography basis can be beneficial when company wish
to defining demand. This phase will consist all ages, gender, occupation etc. cause Rimmel are
dealing in good cost product and their new product are made up as to grab attention.
Behavioural: Segmentation could be done on the basis of behaviour of persons. This
phase is all about people are wanting the value of their money in a proper way. Hence Rimmel
should made that product which give more satisfaction to customer.
Psycho-graphic: Rimmel can do its segmentation according to psycho-graphic too which
involves customers personality, attitude, life style and class of person. As Rimmel is dealing in
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high cost product which are affordable by high class persons (Schaltegger, Lüdeke-Freund, and
Hansen, 2012).
Targeting
This is another way that are focused by Rimmel. In order to make targeting it is
necessary to conduct effective market analysis which disclose target customers. In segmentation
company will choose and mark their market but in targeting they will separate their market and
track their focus on that particular market. As Rimmel are introducing BB Cream in new market
hence they will choose those customer that are able to pay for it.
Positioning
Organisation is also focusing on positioning. This mean Rimmel will select their
customers, develop their product in accordance and frame suitable strategy which grab attention
of customers. For this effective communication strategy will be framed which makes persons
more aware for upcoming product. Rimmel is using this techniques for establishing their new BB
cream in the market. Effective positioning helps an organisation to enjoy sound profit and it also
helps in building brand image in target market.
MARKETING OBJECTIVES AND GOALS
Goals and objectives are very important for attaining success in competitive world. It
provides appropriate guidelines about targets to be achieved in future. Rimmel is launching new
product in market that is BB cream. There is requirement to set SMART goals for marketing of
this commodity in order to attain success in this product development. An objective must be
smart, measurable, attainable, relevant and time based. It should be focussed towards enhancing
sales and generating profitability through this product. To launch new cosmetic in effective
manner, this company need to set certain goals and objectives for fulfilling several aims related
with brand awareness, market share and profitability. Therefore, objectives for launching BB
cream are as follows-
Enhance sales- This is one of the most important aim of marketing. There is need
making effective schemes and plans for increasing sales volume. Rimmel has to use appropriate
delivery and advertisements modes through which its consumer base could be enhanced. It has to
focus more on young girls as they demands cosmetics products more as compare to aged women.
More sales helps the organisation in earning more profits for longer time (Sheng, Zhou and Li,
2011). This is also important in achieving goals of survival and growth.
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Improve product awareness- Another aim of marketing unit of this organisation is to
improve their product awareness. It is required that, company should use proper techniques for
making its commodities known amongst the prospective buyers. There is need for adequate
campaign and promotions through which consumers can be aware about the products and their
unique features.
Market share- To sustain for longer time period there is need for establishing business in
the specified sector. It is concerned with increasing market share in relevant area by giving tough
competition to other firms. Quality in products and effective pricing will be beneficial in gaining
loyalty from large segment of buyers. Attractive content is to be developed in order to gain more
attention from target clients.
Brand management- Another important objective of marketing is to develop appropriate
strategies for managing brand. It is concerned with managing place in mind of people so that
they will not seek for other alternatives. Rimmel has to design its ads that will assist in reminding
customers about benefits of cosmetics of this company. It should be made attractive so that it
becomes easier for buyers to recognize this brand amongst other names.
IDENTIFY APPROPRIATE MARKETING STRATEGIES
Developing effective marketing strategies is another important activity to make product
known amongst target audience. In order to make effective schemes and policies, there is need
for using marketing mix. This will help in achieving competitive advantages in global context.
These aspects could be applied in following manner-
Product- Rimmel should understand the demand of market in order to identify target
customers available. There is need to gather data and information about needs and wants of
people. This will assist in developing this product as per discovered demands. Through this more
buyers can be attracted and sales will be enhanced.
Place- It is concerned with place which is to be targetted through marketing efforts.
There is need to choose adequate market in which more and more people could be attracted ans
sales could be improved. This will help in generating higher revenues by selling large number of
BB creams.
Promotion- It is another important aspect of marketing strategy through which Rimmel
can avail various benefits (Marketing Strategies That Inspire Strategic Thinkers, 2017). It is
concerned with activities of promotion and brand awareness. There is need to use appropriate
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techniques of advertising through which message could be delivered in efficient way. Digital
marketing is an important mode for communicating with large segment of prospective buyers in
less time. Along with that, it is less costly as compare to other alternatives. This promotion
strategy will be beneficial in increasing brand awareness which ultimately leads to more sales
and profitability.
Price- It is most important factor of marketing. Price is concerned with the value at which
BB cream will be sold. It is very essential aspect in handling tough competition at market place.
There are several type of pricing policies that are used to determine adequate price of an product.
It should be fixed by evaluating various factors such as cost of production, competitor's price,
market conditions and consumer segment. Since, this product is launched for the first time, so
penetration pricing will be appropriate method. This includes less price in introduction stage of
an commodity. Prices are increased as per rise in demands. Apart from this, it is also required to
fix price in such a manner that could meet demands of people without compromising with
quality of products.
Therefore, marketing strategies should be based on these aspects so that, an organisation
can ensure and mange its sales and profits. It is necessary to gather accurate data and information
related with these marketing mix so that authentic strategies could be made. It will assist this
company in organising sustainability in growth for long term. Apart from this, these are also
beneficial in attaining competitive advantages.
Recommendation-
There are several suggestions for Rimmel can achieve more growth in future. They can
use method of online sales by offering their products through particular websites. Nowadays
people are more comfortable with these platforms as they found it more convenient and easier.
Home delivery of products could improve sales of company in effective manner.
Advertisements through social media and other digital modes. These are capable in
reaching large segment of customers in less time. It is also beneficial in attracting people with
impressive sites and presentation of products.
In order to ensure growth in future, there should be product and market development in
timely manner. It is required to meet changing needs of market and ensuring competitive
advantages and stability in coming years.
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