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Marketing Plan For Nature Care Products

Question :

The Marketing plan is the part of overall business plan. The marketing plan guidelines the action plan for the upcoming year which outlines the goals, strategy, action plan to achieve the marketing objectives of an organisation. The Nature care is Australian based company which is planning to increase its market share for this purpose the marketing plan is made.

  • What is Marketing Plan?
  • Outlining the Marketing plan for Nature Care Beauty Products?
Answer :

The Marketing Plan is a document guiding the marketing and promotion strategy for the business products to increase its leads and reach in market. It is made after analysing the customer needs and wants. It entails the objectives and action plan to achieve these objectives.

Company Introduction

The NatureCare is an Australian based company which manufacture the skin care products with high quality that caters to premium segment. The company product portfolio contains the health food, skincare products and infant’s products. The NatureCare wants to increase their functioning globally with motive to increase their market and customer base. Based on this the marketing plan is devised for NatureCare.

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Mission

The NatureCare mission is to grow internationally with focus on quality and sustainability.

Vision

The vision statement of the NatureCare is to provide quality standard products for everyone.

Objectives

The objectives so set for the NatureCare global expansion is as follows;

  • To increase the overall market, share by 60% in next one year.
  • To increase the total revenue by 50% within next quarter.
  • To increase the total sales by 20% in next 6 months.
  • To increase the product portfolio by 20% in next 6 months.

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Situation Analysis

it refers to the analysis of internal and external factors that can hinder the NatureCare performance. There are certain factors which affects the business expansion. The Five Force model will help in identifying the levers of growth and profitability for NatureCare. This will better help in judging their performance. Therefore, the analysis of the NatureCare company is as follows;

Rivalry among existing firms: The cosmetic and health care industry is one such attractive industry which takes up major share and increase the level of competition. While expanding globally the NatureCare will face intense competition from the many players such as Biotique, Botani etc. The e-commerce has made the competition more fierce.

Threat of New entrants: The skin care industry is one such lucrative industry which makes it competitive. The key hindrance is the patent of technology which makes it profitable for the company. The established brand image also favours the company positively. In case of NatureCare the threat of new entrants is low as they have the brand presence an d credibility established from so long. The understanding of the customer needs is being known well and understood by the company.

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Threat of Substitutes: The substitutes can be easily found in skincare industry. The quality differs and here it creates loyalty of consumer. The shift from chemical products to organic products benefits the NatureCare expansion. As, they have that state of art to produce the items that are well suited to users’ needs and wants.

Buying Power: In beauty products the price does not user status it’s the quality that matters. NatureCare's products are made with high quality and are priced high. This does not affect the company's profitability. As, the quality is being provided by them and in beauty products that matters lot to user. The company to reward its hard-core loyal consumers should start with the loyalty and rewards programmes, which will help in maintaining more customer satisfaction and loyalty.

Supplier Power: The NatureCare has less threat from this factor. As, they manufacture their products own and are less dependent on suppliers. While going global they will be needing the support of retailers and wholesalers which will help in making the product easily available.

Strategies

The NatureCare products are being high priced which caters to premium consumers. The products are being launched for girls, women and kids. They position themselves using the digital platforms by using combination of advertising on websites, social media etc. They place the advertisement on the billboards and high viewership magazines and journals.

Tactics

The tactics of the NatureCare is as follows;

Product: They offer various products for skincare such as lotions, serum, moisturiser, cream, face packs etc. ranging for young females to elder women's.

Price: NatureCare keeps the pricing of their beauty products premium and competitve.

Place: They sell the products through retail and wholesale outlets. They also sell the merchandise through the digital medium i.e website.

Promotion: NatureCare promotes their product through effective use of digital platforms and traditional medium. They use social media marketing, company website to promote digitally. In traditional media they place the advertisement on the high rated newspaper, magazines. They use the real life women as the face of their brand to promote the product on billboards and other platforms.

NatureCare Website

Social Media Page of Naturecare

Action Plan

The action plan is the translation of the expressed marketing strategy into financial terms. The needed resources are expressed into financial expression. It makes the finance department to make easy allocation of funds by expressing the required resources into financial terms.

Particulars

Amount (£)

Marketing

10000

Promotional activity

20000

Plant and machinery

120000

Print media

7000

Total

148000

Controlling & Monitoring

The controlling and monitoring helps in comparing the performance. The controlling techniques are used to measure the actual objectives so set with the actual performance. The KPI's are set which helps in effectively measuring the actual performance from the planned one. The key performance indicators set to measure NatureCare product is revenue and sales figure. This will help in effective measurement of performance. The benchmarking is another technique used to measure the performance. The biggest competitor of NatureCare is Botani against which the performance will be compared. This will help in effectively measuring NatureCare performance.

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