Marketing Plan for Benefit to Increase Market Share in Its Existing Market Segment
Marketing Plan
1. Terms of Reference
This is a detailed marketing plan for Benefit to increase market share in its existing market segment. In order to do this, the market and the company’s position in the current market will be analyzed and from this, a marketing plan will be developed and actions to be taken will be set.
2. Executive Summary
This report will examine the company as it is now and identify it’s strengths and weaknesses. After setting out targets for the company, a strategy will be employed to help meet objectives. This report considers how best to help grasp opportunities and become a leading competitor. A marketing plan is developed and decisions are made in respect to strategy and implementation of the idea.
3. Business Mission
To offer ‘feelgood’ beauty to women of all ages with products which are irresistible, fun and uniquely problem-solving. To develop a strong bond with consumers to enhance brand loyalty.
4. External Marketing Audit
Macroenvironment
Legal
In the UK, animal testing for cosmetics is now fairly uncommon. However in the US, there is evidence to suggest that animals are still being tested on. Laws may be imposed which prevent animal testing, which could alter the progressions in new products which can be developed due to the limitations of chemicals we can use.
Ecological
The demand for products that are organic and made of natural ingredients is on the increase. This means that the company may need to consider how this affects their consumers and then introduce a range of products, which meets the market’s new demands.
The demand for “green” packaging is also becoming more popular, using environmentally friendly production techniques using and packaging which decomposes or can be recycled easily. This also offers an “added feel-good” value to the product.
Economical
Rise in interest rates from 5% to 5.25%, the third rise in three months. The increase means that mortgage repayments are higher
1. Terms of Reference
This is a detailed marketing plan for Benefit to increase market share in its existing market segment. In order to do this, the market and the company’s position in the current market will be analyzed and from this, a marketing plan will be developed and actions to be taken will be set.
2. Executive Summary
This report will examine the company as it is now and identify it’s strengths and weaknesses. After setting out targets for the company, a strategy will be employed to help meet objectives. This report considers how best to help grasp opportunities and become a leading competitor. A marketing plan is developed and decisions are made in respect to strategy and implementation of the idea.
3. Business Mission
To offer ‘feelgood’ beauty to women of all ages with products which are irresistible, fun and uniquely problem-solving. To develop a strong bond with consumers to enhance brand loyalty.
4. External Marketing Audit
Macroenvironment
Legal
In the UK, animal testing for cosmetics is now fairly uncommon. However in the US, there is evidence to suggest that animals are still being tested on. Laws may be imposed which prevent animal testing, which could alter the progressions in new products which can be developed due to the limitations of chemicals we can use.
Ecological
The demand for products that are organic and made of natural ingredients is on the increase. This means that the company may need to consider how this affects their consumers and then introduce a range of products, which meets the market’s new demands.
The demand for “green” packaging is also becoming more popular, using environmentally friendly production techniques using and packaging which decomposes or can be recycled easily. This also offers an “added feel-good” value to the product.
Economical
Rise in interest rates from 5% to 5.25%, the third rise in three months. The increase means that mortgage repayments are higher