Marketing

Marketing Plan

Introduction

In this report, marketing plan will be developed for monitoring and evaluating the company effectiveness to target and expand its business in UK market. Dr Pierre Ricaud is a French cosmetic skincare brand business which target 40+ age women who buys its anti-ageing products rang through mail order (Dr Pierre Ricaud, 2017). In concern to it, a case study is referred in which company of Dr Pierre Ricaud is thinking for expanding its business to UK market. The UK market for skincare category is effective as customer mainly women’s are seeking for skin products substitutes in retail brands for living healthier lifestyle i.e., to protect their skin.

This research paper highlights on UK skincare segment market in order to determine and understand the competitive environment as well as customer preferences. In this study, different key areas are discussed such as environment analysis, marketing strategy, 7P’s, STP (Segmentation, targeting and positioning) and marketing contingency plan will help in developing understanding and analyzing the UK market (Hollensen, 2015). This marketing plan will support in determining that expanding business to UK market will be beneficial or not. However, this study will help in understanding the UK market as well as help in determining the demand of anti-aging product demand in UK market by women.

Discussion

Environment Audit

Environment audit is defined as a general term which can reflects the environment compliances which company faces while entering to other country market. This environment audit will be helpful in analyzing and evaluating the market condition both internally and externally. Under this, Dr Pierre Ricaud will analysis the UK market by understanding the market for skincare products for which proper survey will be conducted in order to determine that how many customers widely uses the skincare and bodycare products frequently. For studying the environment of UK market, it is necessary to identify and understand the customer requirement and also different marketing online source through which consumer shop for the brand (Sheth and Sisodia, 2015).

For expanding the business franchise to UK market, Dr. Pierre Ricaud need to identify the market trend which is followed in the UK market and on that basis, company will enter to UK market by following same or different unique trend which attract customers towards the brand. For establishing the brand in UK, brand awareness is necessary in order to meet the intensive competition in the market (Ma, 2014). However, there are more than 60 brands which also offer customers with skincare and bodycare products according to customer preferences. During environment analysis, there are some factors which develop opportunity and threat for the company to develop or maintain the brand image in the highly competitive market:

Economic Factor

Economic condition of UK market is stable and growing rapidly in terms of increase in demand for skincare products. This provides opportunity for other competitive firms to expand their business to UK market by selling their products and services to customers directly.

Legal Factor

While studying, it is determined that in UK, many legal regulations have been changes and that created negative influence on the firm’s behavior. This change in legal regulations such as change in consumer law and employment regulations affects the relationship between the consumer and organization or employee and organization (Elenkov, 2014). For expanding business it is necessary to go through all legal terms & conditions in order to develop positive relationship.

Social Factor

The social factor brings huge changes in the cosmetics industry because there are some factors like demographic changes, change in trend and preferences, etc. This change in customer demand is due to social factor because in today’s highly competitive market, consumer trend changes rapidly. The customer trend for cosmetic products also changes simultaneously because with customer are demanding for products which decline the demand for surgery to make them look beautiful.

Technological Factor

The change in technology is also major factor which influences the demand and growth of the business in UK market. Now, technology is so much developed that there is no need to take surgery as there are advanced treatment which are cheap and also fulfills the consumer desires by affordable cosmetics with best quality. The development of new technology develops the future market for cosmetic products.

Political Factor

The political aspect of UK for cosmetic industry is effective as they developed legal European regulations on cosmetics i.e., regulation 1223/2009 which every cosmetic industry need to follow for sustaining the current UK market. These regulations are developed for safety of public health and organization benefit like regulations related to safety and responsibilities, consumer information, animal testing, etc.

Environmental Factor

The environment of UK market for cosmetic products is large as cosmetics products are demanded highly by customers for safeguarding their skin and make their skin glow and healthy. The change in environment creates challenge for the companies to meet the consumer demand on time and for that environment regulation are developed that should be followed by cosmetics companies in order to provide environment friendly products to customers.

In similar manner, brand penetration is also an essential factor which provides opportunity to the company to target the large market share by targeting the women customers with best quality of skincare products at cheap price. But at the same time, in can also be stated that there are already some prestige brands which don’t get affected from brand penetration strategy which adopted by other brands to target the market (Kurtz, 2010). In simple words, market penetration will not create threat for other prestige brand companies as their customers are more loyal towards the brand. Thus, environment audit help in determining that UK market environment is effective and attractive for Dr Pierre Ricaud for expanding its business franchise.

Marketing strategy

For targeting the UK market, multi or Omni-channel strategy is used as marketing strategy by the company in order to market the product in the international market. While studying, it is found that in UK market, it is difficult to target the customers in skincare products category. In other words, it is difficult for new brand to launch or enter a new market with its new product (Mooij, 2013). But at the same time, implementation of multi or Omni-channel strategy will help in useful for targeting the UK market because it will increase the possibilities to use the retail channels. This will lead to increase in direct sales of the skincare products and also through salons and spas which will help in promoting the product to customers directly.

On the other hand, company will also use retention marketing strategy as it help in providing the benefit in different manner like by increasing the revenue, by decreasing the customer acquisition cost and also help in identifying the customer’s needs and demand in depth (Russell, 2010) . In UK, customers prefers to switch brands and this develops an opportunity for Dr. Pierre Ricaud to target those customers easily and make them satisfy with the products by providing them various offers which retain customers and develop loyalty towards the brand.

The company can also adopt marketing management philosophies i.e., marketing concept through which company can satisfy its customers by focusing more towards the marketing efforts. The use of marketing concept will help company to achieve customer satisfaction easily and also accomplish organizational objective successfully (Varadarajan, 2010). On the other hand, marketing strategy will be used in efficient manner in which marketing sources will help in marketing the product in the large UK market effectively. However, the marketing strategy will support Dr. Pierre Ricaud to use the best suitable marketing strategy for expanding the skincare business in UK market.

SWOT Analysis

Strengths

·       Price of the product

·       Loyal customers

·       Consistent quality

·       Effective and strong brand image

Weaknesses

·       Profit margin

·       Demand-price ratio

Opportunities

·       Differentiation strategy

·       Huge market potential

·       To target 40+ women

Threats

·       Great competition within the industry

·       Threat from market leader

·       Global economic crisis

STP (Segmentation, Targeting and Positioning)

This marketing plan also include segmentation, targeting and positioning which help in determining the market segment which company can target in order to achieve position in the highly competitive environment. In UK market, company will segment customers on the basis of age group which will help to target the customers from company’s products and services by offering them. This process of segmenting the consumer will help in identifying that how many customer wants anti-aging product for their skincare in UK market (Hassan and Craft, 2012). Further, this marketing plan also focuses on target market which will be target by the company by its products and services in UK market.

The target of company Dr. Pierre Ricaud is young people mainly women who are over 40 because those women are focuses on maintaining their skin and body as they want to look young with the increase in age. This market plan will involve a survey under which different age group customer will be targeted in order to determine that demand for anti-ageing cream by particular age-group (Onkvisit and Shaw, 2009).  At the same time, these customers are also targeted by the company through different channels such as social sites and websites, customer engagement and so on will provide support to company in building a brand image in the UK market.

For positioning the skincare brand in UK market, Dr Pierre Ricaud can also sell its anti-ageing products in the market because it is identified that British customers easily adopts the anti-aging products as they are more concern about their skin and body. Thus, Dr. Pierre Ricaud need to deliver customer value through effective decision making related to brand promotion to brand positioning.

Branding and positioning

For developing a brand positioning, there is high need to understand the customer’s needs and requirements by selling the products at high prices in comparison to ordinary skincare products (Wells, et al., 2010). However, positioning a brand name in the UK market is very difficult and challenging task as there are existing prestige brands which are offering similar products to the customer. The below positioning map helped in understanding the market and also helped in identifying the competitor position in the highly competitive UK cosmetics market.

7P’s of marketing mix

7 P’sDescription
Product Dr. Pierre Ricaud produces a product range for its women customers who are more conscious about their skin and body care. This company provides wide range of products like anti-aging cream for 40+ women as this product help them in maintaining their skin glow and soft and also help in avoid wrinkles from women faces. These products will be offered to customer in the UK market only when it passes the medical test of UK which will help in ensuring that product has no side effects on women health. The product will also be provided as a sample to women so that they use it.
Place The UK market of skincare and cosmetics products is large which ultimately provides the opportunity to the Dr Pierre Ricaud as in UK market. The best place to target more customers will be online selling of products as well as opening a new retail outlet at the center of city.
Price The prices of products of the company must be kept under a low penetration pricing strategies in the UK market as there are other skincare brands like BodyShop and L’Occitane who are targeting the large market hare with its products and services at affordable rates.
Promotion To promote the wide range of product, online marketing technique will be suitable as it will help in targeting the large number of customers. In addition, company will also promote its product by providing giving new gifts and launching new product which will encourage the sales and by increasing the sales of new order. For promoting the product, company will use social media like Facebook and Twitter, etc where large number of customers can be targeted easily.
People The company is required to recruit or select the right people for the managing the office work efficiently for which company need to focus on its Human resources management team. This will help in recruiting right people who can offer the products and services to customers directly and efficiently.
ProcessesThe process of delivering the product to customers should be effective in order to attract the customers towards company product and services as well as encourage them to buy again. Dr Pierre Ricaud needs to provide its services in it salons and spa for providing best treatment to consumers.
Physical Evidence The physical evidence should be provided to customers when they buy and product from the company. The physical evidence includes printed material in which price & quality of product and bill is included as well as instruction to use will also be provided.

Marketing tactics

The marketing tactics is developed for promoting the goods and services in the market with an aim of increasing the sales and maintain the competitive position in the market (Nguyen, 2013). The marketing tactics includes different types of channels which help in promoting the products of the company in the UK market so that customer gets aware in advance about the product feature and its benefits (Murphy, et al., 2017). With the help of different marketing channels such as offline and online sources, company will target its customers and understand the UK market environment.

In similar manner, UK marketing channels involve social media, websites, customer engagement, direct marketing & services channels and so on, influences directly on the customer mind and their preferences towards the product (Baker, 2014). Because of this marketing channels only, Dr Pierre Ricaud target its customer from different countries for their products and services but this somewhere lacks in sales network, low budget and unsuitable products affects negatively on the demand and satisfaction level. Overall, these marketing tactics will support the company to target UK market segment efficiently and effectively.

Contingency Market Plan

Under this market plan, different marketing strategy will be developed which help in meeting out the risk which are identified in UK market from the existing market plan. This plan is developed as an alternative plan because if company faces any problem or issues due to develop marketing plan then company can switch immediately to next plan. The contingency market plan will include different marketing strategy like Guerrilla marketing will help the firm to target the crowd of people and to promote the product or brand effectively (Kleinmann, et al., 2012). On the other hand, traditional marketing strategy will be used by the company in order to meet the unforeseen issues which are developed while expanding and promoting the brand in new market. Under this, market segment will also targeted by different promotional program in which customers will be provided with free sachets so that customers can use and purchase it as they get satisfy with the quality of product (Peter and Donnelly, 2010). This additional plan is develop for responding towards the natural disasters or unforeseen risk which affects the business to grow and develop in new market.

Recommendation

In context to above study, some recommendations are provided to the company after analyzing the UK market and its customer needs for skincare products. For expanding the business, it is recommend to company that for selling a wide range of brand product company must offer effective product combination with treatment by showing proper demonstration. This offer will be provided to customer in each salon for diagnosing immediately with the products and services. While studying the customer’s preference in UK market, it is also found that customers are happy to recommend their reviews to the company after trying the brand once.

On the other hand, Dr Pierre Ricaud is also recommended to drive the customer traffic from website to videos and reviews which encourage them to use the product for once and it will lead to increase in brand reputations in UK market efficiently. In concern to it, the customers who are already engage with brand through social media are also highly like to recommend the brand to other. In addition, social media also drives traffic by encouraging the opinion to former by recommending them to engage the UK media channel in order to build the brand image (Jobber, 2010). The other recommendation to the company is to target the different age group of customer also rather than focusing on particular age group i.e., 40+ women. This all recommendations will support the Dr Pierre Ricaud to expand its business and compete with other competitors successfully in UK market.

Conclusion

From the above discussion, it can be summarized that Dr. Pierre Ricaud can expand its skincare business franchise in the UK market effectively. The market environment of UK is effective and efficient for new firm to enter with new product as UK customers welcome the new products by using their brand products. This switching of brand develops an opportunity for company to target those customers as people of UK switches easily from one brand to another. In addition, it also identified that customers are easily targeted with the skincare products because there are customers who are ready to switch the brands easily. With the help of this marketing plan, Dr Pierre Ricaud will be able to build its brand position in UK market by using different marketing strategy and also by segmenting the market into different age group so that it becomes easy to target the right customers efficiently. At last, it can also be stated that in UK skincare segment market, women of 40+ ages are targeted by its anti-aging products as in UK there are large number of women’s who are more conscious about their health and skin conditions.

References

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