Marketing Concepts in Beauty & Personal care products
Marketing has many different definitions: ‘Marketing is the management process that identifies, anticipates and satisfies customer requirements profitably.’ (The Chartered Institute of Marketing /CIM/). Marketing try to send that massage, the customer’s satisfaction is the focus point of all business activities, what been driven by managers passionate about to delight their customers. The truth is marketing has one measurement that matters: how much product been sold. The marketing concept is about matching the company's capabilities with customer wants and it has a strong impact on sales. Effective implementation of the marketing concepts requires involvement of employees from all departments at all levels of the business. Employees must be motivated to achieve the common goals of maximum customer satisfaction and profitability. Nowadays nobody can avoid marketing’s influence. It has direct /e.g. advertising/ and derivative /e.g. group mentality and recommendation/ impact upon us. As a woman, who is in daily contact with skincare and beauty products, I would like to present two marketing concepts trough on this product range. Market segmentation, targeting (Section1.2) and marketing mix (Session 4).
The businesses have several important reasons, why should attempt to segment their markets carefully. The main goal is to better match their customer needs. Customers’ needs differ. Creating separate offers for each segment makes sense and provides customers better solution. Another reason is, businesses want to enhance profit. The customers have different disposable income, therefore different in how sensitive to price. By segmenting markets, businesses can raise average prices and subsequently enhance profit. To achieve a steady profit, companies want to build long-term relationships with their customers. Often people’s circumstances...