Wednesday, August 14, 2019
Company’s Marketing Strategy
Company's marketing strategy MARKETING MIX FOR COMPETITIVE ADVANTAGE: Marketing program or plan is required to achieve the company's desired objectives. The four ps of effective marketing min strategy was developed by McCarthy namely the four ps product price, promotion and place. Four ps consist of numerous decisions on the min of marketing tools to USE. International companies like NIVEA FOR MEN must decide how much to adopt their marketing strategy like Four PS to local and international conditions. f numerous decisions on the mix of marketing tools to use. International companies like NIVEA for MEN must decide how much to adopt their marketing strategy like four PS to local and international conditions. At ne extreme are companies that use a globally sundried marketing mix worldwide. In 1993, NIVEA for Men developed a fuller range of male skincare products. The producer like NIVEA FOR MEN adjust the marketing mix, to each jarget market since NIVEA FOR MEN in operating its busines s from 1993 it is well known about the four PS method of marketing mix.After developing four ps NIVEA FOR MEN and other companies are using the four ps as the pillar of marketing strategy. Marketing mix decisions must be made for influencing the trade channels as well as the final consumers. Arranging an appropriate combination of the marketing mix four ps product, price, promotion and place companies, like NIVEA FOR MEN designe plan to meet needs of customers. In maintaining the competitive advantage in the grobal market. NIVEA FOR MEN is doing right duty properly executing and evaluating the marketing programs.Effective marketing mix is integral for the success of the companies such as NIVEA FOR MEN in maintaining competitive advantage. Product : Product is one of the important element of four ps a Product that can be offered to a market to satisfy a want or demand, product is the important element of the marketing mix which coordinated decisions on product mines, product lines br and and packaging and labeling. In the primary stage companies like NIVEA FOR MEN is maintaining competitive advantage would be product development, the company can get advantage by the xpansion of the product range. product may differ local and global area basis. NIVEA FOR MEN can produce a regional version of its product such as a western european virsion and getting a competitive advantage. Through product invention is a costly strategy, the company maintaining competitive advantage by backward and forward invention of product. Backward invention is reintroducing earlier product forms that are well adapted to a foreign country's needs. Forward invention is creating a new product to meet a need in another country.There is enormous need in less developed countries for low cost high proteins foods. NIVEA FOR MEN can offer its consumers a one-stop shop opportunity by providing majority of the products that they are looking for in one area. The individual consumer & will be motivated to purchase. If the quality of the products bought satisfied the needs and preference of the consumer then the NIVEA FOR MEN Will lead to consumer loyalty and retain the customers and repeated consumption.The development of a broader product has ranges increases the possibility that individual consumers will be motivated to purchase, Encouraging higher levels of consumption is not only beneficial on the part of NIVEA FOR MEN but also boosting its revenues and the national economy. Price : Price is the very important element of marketing mix. Price is very sensitive issue on the behalf of the company. Price are the easiest marketing mix element to adjust product features, channels and even promotion take more time. Price also communicates to the company's intend value positioning of its product or brand.Today companies like NIVEA FOR MEN is wrestling with a number of difficult pricing tasks. How o respond to aggressive price cutters How to price the same product when it goes through different channels How to price the same product in different countries. How to price an improved product while still selling the previous version. How to price different component of an offering When the customer wants to make his own choice of components. NIVEA FOR MEN focus on product development and pricing combined with an emphasis on consumer needs is key differentiator for NIVEA FOR MEN.IT is a major reason why in the UK brand is still the market leader in the male facial skincare market. Throughout most of history, price were set by negotiation between buyers and sellers traditionally price has operated as the major determinant of buyer choice. Selling a product price is technical strategy of a company when NIVEA FOR MEN is going to set its price has to consider many factors in setting its pricing policy like pricing of objective determining demand, estimating costs analyzing competitor's costs prices and offers, selecting price meted etc.Appropriate pricing and promotional techniques is a good tool o maintain and achieve competitive advantage especially it competitors do not have the ability to offer a clear pricing hierarchy. It will often of choosing from good better and best among the product range. Each price will lead to a different level of demand and therefore have a different impact on company's marketing objectives. Relation between alternative prices and the resulting current demand is captured. Demand and price are inversely related. NIVEA FOR MEN using four ps as price for determining demand.Price still remains one of the most important elements determining market there and profitability. Consumers and purchasing agents have more access to price information NIVEA FOR MAN use the customer's perception of value is an important determinant of the price charged. Customer's draw their own mental picture of what a product is valued and worth. NIVEA FOR MEN awares too much when using low price as a marketing tool is that the customer may feel tha t quality is being differentiated. Promotion: One of the most important element of the marketing mix is promotion.Promotional tools like advertising, sales promotion, public relations and direct marketing is an role in making marketing strategy for business operating globally. NIVEA FOR MEN examine both traditional and online forms of these tools, NIVEA FOR MEN main marketing strategy to attract customers, fulfill its consumers' wishes and needs with innovations today and its the future. This will give a strong position within the global competitive environment NIVEA FOR MEN's marketing team used research data to forecast market trends over the next three to five years.This helped them set specific targets for increasing sales growing market share improving its brand image. NIVEA FOR MEN wanted greater market penetration for male skin care products. It wanted not just a greater share of the existing market it wanted to expand that market, It wanted more men buying skincare products. It also aimed to sell more skincare products to women, for this purpose NIVEA FOR MEN strengthen its promotion strategy. Global companies that use a large number of ad agencies located in different countries and serving different divisions have suffered from uncoordinated advertising and image diffusion.NIVEA FOR MEN now use only a few agencies or even one that can supply global advertising, public relations, sales promotion and web consulting. The result is integrated and more effective marketing communications and much lower total communication cost. The media planner of NIVEA FOR MEN has to know the capacity of the major media types and select the media which is favorable to the company. Major media types NIVEA FOR MEN to retain the loyal customer are likely newspapers TV direct mail Radio magazines internet. Beside these sales promotion include display center international trade fair country trade fair.This is the way to expanding product market. In maintaining competitive adva ntage NIVEA FOR MEN developing the promotion system. They use media for their product well known and product quality TV Advertising made people aware and press provide more detail about the product. Another way of promotion is sales promotion is a key ingredient in marketing campaigns, consists of diverse collections of incentive tool, mostly short term designed to stimulate greater purchase of particulars products or services by consumers where as advertising offers a reason to buy. Sale promotion offers an incentive to bye.Sale promotion includes *Samples, coupons cash refund offers, price off, premiums prices, free trails warranties. NIVEA sought to build on and develop the approach it had used in the part Since 2000 there has been a greater emphasis on consumer needs and increasing use to experimental marketing is about engaging consumers through two way communications that bring brand personalities to life and add value to the target audience. Place : Another key marketing tool s is place, where the company undertakes to make the product accessible and available to target market.At the very beginning NIVEA strategy its expanded its business activities in all around the world. NIVEA has build a strong marketing channel through which it can meet customer needs economically and conveniently. NIVEA works internationally with the local distributors who lave local knowledge, invest in them and set up performance goals to which they can agree. NIVEA has expanded its marketing channel for some views. These are as follows To gather information about potential and current customer Persuasive communications to stimulate purchasingTo assume the risks corrected with carrying out channel work. For the successive storage and movement of physical products. Many times NIVEA evaluate intermediaries performance against such standards as sales quota attainment, average inventory levels, customer delivery time treatment of damage and lost goods, to achieve the competitive adva ntage NIVEA has given an attention to the sub-urban area is its operating places in the globalization age NIVEA wants to satisfy every customers receiving its service.Conclusion : The marketing plan is a cycle that begins and ends with evaluation. the final stage in the marketing plan is to measure the outcomes of the marketing activities against the original objective and targets. Marketing mix of four ps is an important for marketing decision. This strategy has ability to plan its market strategy will in terms of maintaining good consumer's relations effective use of advertising by capitalizing on its trusted brand image.The male consumer and increasing of the product skincare for men consumers are loyal to the products which are able to carry brand value and satisfied the consumer's needs and demands. NIVEA FOR MEN adopted a range of key performance indicators to assess the success of the NIVEA FOR MEN re launch in the UK it looked at market share, overall sales brand image ratin gs, product innovation. By using proper marketing strategy four ps the companies like NIVEA FOR MEN met its overall target in local and international market.