Marketing plan for Himalaya shampoo
Important note: You have to write about marketing plan for Himalaya shampoo, a new way to promote this company and its product. - Executive Summary should include the recommendation and write it in the past tens - In the Objective part, you should write( the objective are ................) - Use IMC integrated marketing communication as a way to promote the Himalaya shampoo; also u can use social media as twitter and YouTube. - use Marketing Mix Strategies which is 7ps. - use theory about marketing - in Controls and Contingencies part, you can control it for example by social work , billboards and online. - In the action plan , u should write in a table about objective , activity, time ,HR and budget - You should follow the criteria and Marketing Plan Checklist that I attached.
Should be a stand alone document expanding on the recommendations and NOT an introduction.(should be written in the past tense and be on a separate page .
Brief rational for the marketing plan. Why you are writing it and what it will contain. ( Aim /scope)
2.1 Internal Analysis:
2.1.1 Mission (what your company wants to achieve – its fundamental purpose), Resources (what you have to work with)eg .human /technical /financial ,
Offering (define what you are selling – what value does it have for customers), Business relationships (if any).
2.2 External Analysis (Understanding the influences on your business):
2.2.1 Technological trends (how will changes in technology affect the way you reach customers and the way customers use products)
Economic (are economic conditions likely to affect your business or customers), Political/Legal (do you have to comply with any Government regulations),
Socio-cultural (are there social or cultural influences that may affect your customers’ tastes or willingness to buy from you)
Natural environmental trends (how will they impact on your business)
Legal .
Market Analysis :
Market definition (where do you see your market existing),
Market trends (apart from the general trends covered in you external analysis is there anything that is likely to affect your particular product or customers),
Competitive situation (level of competition, types of competition, key players, your firm’s competitive advantage),
Customer needs (What customers’ needs exist that your product can fulfil)
Remember to cover both positive and negative factors that may affect your business
Major issues facing the company and product that have come out of your Current situation analysis (do this in a table format). ( write it in point in the table)
Summary of the key issue that are likely to affect your business and your ability to market your product (these should be easily identifiable when you develop your marketing strategies in Part B)
Remember the 5 requirements for effective segmentation.
Have you made a distinction between the market segmentation and the target market?
Although you should identify more than one customer segment, for the purpose of this assignment you only need to concentrate on one target market
Think about potential customers’ (target market) needs, wants, behaviour, attitudes, loyalty, and purchasing patterns.
What positioning strategy have you used? How does this relate to branding?
Marketing objectives – Short term (what you want to achieve in the next 12 months)
Establish specific and measureable goals for sales, market share, brand awareness, customer segments, loyalty etc.
Identify objectives for marketing strategies (and rationale) to overcome key issues identified in SWOT analysis. ( write the objective that will solve the weakness and threats in SWOT )
Note: You are not required to include long term objectives
Present your brand ideas for the business (name logo etc)
What is the value proposition (why would customers want your product)?
How does the brand identity tie in with your product offering?
Outline your product concept and justify your choice.
Concentrate on one particular product as an example (event though you may sell a range)
What format(s) does your product come?
Are there any augmented features to your product?
Price:
How much will you charge (again just use one of your products as an example)
Justify (and name the pricing theory) why you have decided to set the price as you have.
As this is an online business does the customer get charged any delivery fees?
Distribution:
Present and justify how your customers will get their products?
You don’t have to discuss the back end distribution (where and how you get your products from)
Promotion
What various media will you use to promote your product/service?
Outline the timing (reach and frequency) of each promotional activity and justify why you have planned it this way.
Discuss the objective for each medium used (why use this and what you expect it will achieve)
This section can be in a table format (or Gantt Chart)
Include every promotional activity you intend to conduct throughout year 1.
Include objective of each activity ( try to write new objective because u kept writing the seam objective in every activity )
Include the timing for each activity.
Include who will be responsible for implementing each activity.
Provide a breakdown of all marketing costs involved. (total budget is Australian $100,000 in Australia or $500,000 in India ).
This can be added as an additional column to the action plan chart.
Set boundaries and benchmarks.
How will you monitor the success of each your marketing activities?
How would you know if your marketing plan is working or not?
When do you pull an idea or activity that is not working?
Brief summing up of project – no more than ½ page
Marketing Plan
Name:
Institution:
Date:
Executive summary
The Himalaya Drug Company (HDC) is a world class manufacturer of pharmaceutical products among the hair products that were introduced in the Indian market, specifically to the rural markets. At a cost of $500,000 US dollars, the company implemented the winning marketing plan, with the vision of conquering the rural market which most of the other competitors have not ventured into completely. Part of the plan included the celebrity endorsement, where selected candidates from that movie and music industry would accompany the road shows. They also appeared on the adverts that would be published on the banners, t-shirts and the social media pages. Popular local radio stations were also involved in the campaign, educating the masses about the new herbal products from HDC. The social media sites, specifically Facebook and Twitter were used to market the products as well collect data on the success of the marketing plan. It would have a better fit if the specific rural towns had been identified.
Contents
TOC o "1-3" h z u HYPERLINK l "_Toc379318165" Introduction PAGEREF _Toc379318165 h 5
HYPERLINK l "_Toc379318166" Mission PAGEREF _Toc379318166 h 5
HYPERLINK l "_Toc379318167" Current Situational Analysis PAGEREF _Toc379318167 h 5
HYPERLINK l "_Toc379318168" Market Analysis PAGEREF _Toc379318168 h 5
HYPERLINK l "_Toc379318169" Product Analysis PAGEREF _Toc379318169 h 6
HYPERLINK l "_Toc379318170" Market Trend PAGEREF _Toc379318170 h 6
HYPERLINK l "_Toc379318171" Competition Situation PAGEREF _Toc379318171 h 6
HYPERLINK l "_Toc379318172" Market Definition PAGEREF _Toc379318172 h 6
HYPERLINK l "_Toc379318173" Environmental Situation PAGEREF _Toc379318173 h 7
HYPERLINK l "_Toc379318174" Political and Legal Situation PAGEREF _Toc379318174 h 7
HYPERLINK l "_Toc379318175" Cultural Situation PAGEREF _Toc379318175 h 8
HYPERLINK l "_Toc379318176" Customer Needs PAGEREF _Toc379318176 h 8
HYPERLINK l "_Toc379318177" Swot Analysis PAGEREF _Toc379318177 h 8
HYPERLINK l "_Toc379318178" Target Market Selection and Positioning Strategy PAGEREF _Toc379318178 h 9
HYPERLINK l "_Toc379318179" Objectives PAGEREF _Toc379318179 h 11
HYPERLINK l "_Toc379318180" Branding PAGEREF _Toc379318180 h 11
HYPERLINK l "_Toc379318181" Marketing Mix Strategies PAGEREF _Toc379318181 h 12
HYPERLINK l "_Toc379318182" Product PAGEREF _Toc379318182 h 13
HYPERLINK l "_Toc379318183" Price PAGEREF _Toc379318183 h 13
HYPERLINK l "_Toc379318184" Promotion PAGEREF _Toc379318184 h 13
HYPERLINK l "_Toc379318185" People PAGEREF _Toc379318185 h 13
HYPERLINK l "_Toc379318186" Process PAGEREF _Toc379318186 h 13
HYPERLINK l "_Toc379318187" Physical Evidence PAGEREF _Toc379318187 h 14
HYPERLINK l "_Toc379318188" Place PAGEREF _Toc379318188 h 14
HYPERLINK l "_Toc379318189" Distribution PAGEREF _Toc379318189 h 14
HYPERLINK l "_Toc379318190" Action Plan (one year) PAGEREF _Toc379318190 h 14
HYPERLINK l "_Toc379318191" 2014 marketing budget plan PAGEREF _Toc379318191 h 16
HYPERLINK l "_Toc379318192" Controls and Contingencies PAGEREF _Toc379318192 h 17
HYPERLINK l "_Toc379318193" Conclusion PAGEREF _Toc379318193 h 18
HYPERLINK l "_Toc379318194" Appendices PAGEREF _Toc379318194 h 19
HYPERLINK l "_Toc379318195" References PAGEREF _Toc379318195 h 20
Introduction
Introducing a new product in a new market is one of the risks that every company that want to expand has to invest in. the Himalayas drug company is ready to venture in the Indian market with the herbal hair products that include the herbal proteins shampoo. Unlike most other competitors who have sought to focus on the urban areas, the company is trying its best strategies also in the rural areas (Lamb, Hair & McDaniel, 2009). These are areas that are home to a majority that are not well educated and have little dispensable income. This marketing plan is set to direct the efforts of the company as it tries to venture into a market that all the other competitors are shy to try. This also defines the balancing act between the opportunities, strengths, internal and external weaknesses as well as the threats.
Mission
The company plans to facilitate the Indian culture of elegant hair, with herbal products that strengthen the hair and protect the scalp, by nourishing the skin and hair for the ultimate glow and style. To achieve the objectives of the plan, human resources will have to be available and in sync with objectives requirement, which all also be facilitated by the financial and technically advanced equipment.
Current Situational Analysis
Market Analysis
The Himalayan drug company is a company that has been in the market for quite a long time now, building a reputation that spans across the globe and several decades. The company is planning to venture into the Indian market to sell the new natural hair shampoo and other natural products. In the last few years the market has proven to be very promising and most of the companies that are in the industry. According to the latest statistics, as of the year 2010, the market was worth more than 18 us billion dollars and according to the market projection through the year 2015, the market worth could rise to more than 33 billion dollars (Boundless, 2014).
Product Analysis
The company has been producing some of the leading products in the market and the products range is wide. In the product range are baby care products, personal care products, animal health care products and the pharmaceutical products line. With reference to the new markets that are developing in the Indian Territory, the company has come up with some of the best products that are manufactured using herbs. These natural products including the shampoo are bound to face out the conventional hair products that use chemicals.
Market Trend
Demographic analysis of the Indian market indicates that most of the Indian population uses the natural products. The Indian culture supports that use of the natural products for the hair treatment. One of the main advantages that the company can rely on is the fact that the culture and the Indian people like to treat their hair, given that they are very conscious about their appearance. This is one of the reasons that the Himalayas Company is targeting the market with the herbal products. This trend is supported further by the fact that the Indian people shun away from the synthetic products to treat their hair.
Competition Situation
The market trend and the demographic scope of the Indian market do not mean that the Himalayas drug company is going to conquer the market with so much ease. This is due to the fact that there are other competitors in the same market. Unilever is one of the competitions, is introducing the Meera and the Nyle.
Market Definition
One of the main aspects of the product success in the market is the distribution of the product to the target market. Most of the competitors have concentrated their efforts in the urban areas where most of the people know about the herbal products. Himalayas is planning to target the rural areas, where the dispensable income is quite small and the majority of the people here will have to be educated on the advantages of the herbal products. To make sure that the best practices of the company’s distribution protocols are maintained, the direct marketing strategy is going to be maintained. This is a very delicate market as most the people are also not well educated. Giving the distribution sector to third parties will be a recipe for disaster as most of them will not capture the essence of the product introduction to this target market. Most of the direct representatives will be chosen from the local communities but supervised by the company staff, to ensure that the community feel represented and the ease of communication with the clients is maintained, while at the same time the protocols of the distribution sector is properly regulated (Chaganti, 2006).
Environmental Situation
Environmentally the herbs that are used in the herbal products are easily grown in the climate that is common in most of the areas in India. They also do not require intensive farming techniques as most of them can be found in the wild. Over the years the herbs have gained resistance against the local diseases and the pests and thus only require minimal spraying. These are crucial elements in the environmental bounds given that the company maintains a strict commitment to sustainable development. Using chemicals in the hair products also means that most of them are going to end up in the environment, which is contrary to the principles of the company. Most of the machinery that is being used at the firm is at least, three decades old and new and advanced ones will be required to make sure that the efficiency levels desired are achieved in time and with the minimum resources.
Political and Legal Situation
The Indian market has not seen major economic or political shifts that would impede business in the recent times and future projection also states the same. Much like most countries, there are going to be legal issues to deal with especially the licences to conduct business in the new areas, certificates certifying the legality of the firm, the safety of the products for human use and chemical licences.
Cultural Situation
The socio-cultural aspects of the Indian community are actually in the favour of the company’s products given that it supports the use of natural products in hair care. As such, this aspect links perfectly to the customer needs. In respect to the market definition, the company is likely to face stiff competition from the companies that have been in the same market earlier and are now quite established.
Customer Needs
One of the aspects of the Indian culture that creates the market the company is pursuing is the norm to take care of their hair. Most of the women in the Indian community are proud of their hair and like to treat it for the best results in beauty. The common trend as mentioned earlier relates to the fact that they also want to achieve these results using natural products. As such, other than that the company products satisfying the need to treat their hair with quality products, they also get to do it using the natural products and at the right price. In addition there is the aspect of the knowledge that they will gather from the trainings, which will go a long way into helping them accomplish they beauty goals optimally.
Swot Analysis
Strengths Weaknesses Strong financial back ground
Highly qualified staff
A history of satisfying customers needs
Eco-friendly products
Venturing in the rural areasQuality products are expensive
The machinery are old
The company is not well established in the areaOpportunities Threats The market presents a good chance for investment
The culture is predisposing of the product acceptance
The global community provides a myriad of growth opportunitiesChances of failure are high
Competition is stiff from established firms
Low income in the rural areas
Low educational back groundTarget Market Selection and Positioning Strategy
The Indian market is quite large and company would like to market specific products to specific sections of the same. It is not possible for the company to mass market given that, the element of the demand for the hair products is not homogeneous and as such, all the potential customers are not after the same basic need. This means that they cannot be satisfied in the same gene...