Executive Summary and Consolidated Presentation

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MarketingEntryPlan.pptx
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Marketing entry plan

VISION STRATEGIC PLAN

To become a global leader in the production of beauty products that promotes human wellness and conserves our natural environment

Our company wants to be accessible and product products to all without the harsh chemicals.

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PRIMARY GOALS

To expand our marketing ways and embrace new technology

To expand our customer service

To expand our supply channels

To have affordable products

Our goal is refining communication amongst our employers and customers, training employees on interpersonal and great communication skills and being available for our customers

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TARGET MARKET

Target marketing to each distinct age group.

Demographics at either end of the spectrum: - Young and the old

Offer distinct potential for brands if marketing teams can craft the right messaging

Cosmetics brands are increasingly discovering how important it is to craft unique messaging for each age demographic in the consumer pool. Middle-of-the-road marketing has neglected to specifically address young and old consumers until quite recently, leaving lots of potential untapped (Saka, 2013).

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Size of Target Market

This shows different areas around the world where cosmetics are grossing in revenue. Statista (2019).

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Resources Required to Implement plan

Market insights:

Competitors’ activities

Trends

Brand awareness, brand loyalty, brand images, marketing activities

Consumer insights:

Perception

Behavior: Usage and Attitude

How-to

Usage frequency

Factors affecting purchasing decision

Pricing assessment

Triggers and Barriers to start using BB Cream

Unmet needs existing

Media touch points

These are key information that is needed in order to research my cosmetic plan (Kotler & Armstrong, 2012).

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Reach your plan

Frequency of data

Bearing manufacturers, for example, will publish specific frequencies to monitor based on the physical properties of the bearing itself 

Accuracy of data

The data collected needs to represent the application correctly to draw accurate conclusions

Resolution

Application knowledge will answer this and help find the correct controller resolution necessary to provide useful data

Acquiring data is always important when it comes to being able to reaching your goals for your strategic plan. Tubbs, A & Menz, B. (2018).

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Reach your plan (Cont.)

Synchronized data

If data sets cannot accurately be correlated to one another in a repeatable fashion, an accurate measurement of system behavior won’t be possible

Application knowledge

Application knowledge is the key to collecting the right data and turning it into actionable data

Tubbs, A & Menz, B. (2018).

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Marketing strategy seek to achieve vision

This is a prime example of what strategy plan can help me to be able to achieve my vision. https://image.slidesharecdn.com/integratedmarketingcommunicationsplanmooicosmetics-120604110818-phpapp01/95/integrated-marketing-communications-plan-mooi-cosmetics-5-728.jpg?cb=1338808173

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Measure if the marketing strategy is achieving vision

Need to dig deep to make sure that everyone has the same understanding of each phase of the strategic plan

Define the right indicators that measure progress towards my company’s vision.

It’s important to understand how a vision statement can be measured and how you are able to achieved it.

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What are the indicators to identify this

Two possible indicators:

Quality

Service

You can create a survey and have people rate the quality and service of your company or find data information internally from sales.

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What type of leadership and innovative qualities

Risk tolerance

Domain expertise

Openness

Low anxiety

Emotional stability

Confidence

Action oriented

Collaborative inquiry

Serious play

Paying attention

All of these are what a good leader should aquire as these qualities can help them in all types of obstacles that they may have to overcome. Yscouts, n.d)

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Plans to implement in order to execute marketing strategy

Set the right expectations

Build the team and secure resources

Communicate the plan

Build out timeline and tasks

Set up a dashboard for tracking success

Monitor and check-in regularly

Be willing to adapt

Communicate results and celebrate success

In order for a plan to work, you have to make sure that you put your plan in motion and take all necessary steps that are outlined above in order to become successful. (Click, 2015).

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References

Click, L. (2015). 8 Important Steps to Successfully Implement Your Marketing Plan. Retrieved from https://flybluekite.com/how-to-implement-your-marketing-plan/

Kotler, P. & Armstrong, G. Principles of Marketing.Harlow: Pearson Education Limited, 2012

Saka, E. (2013). Why Cosmetics Brands Must Embrace Age Group Marketing. Retrieved from https://www.salsify.com/blog/why-cosmetics-brands-must-embrace-age-specific-marketing

Statista (2019). Market share of leading cosmetics, fragrances and personal care products markets worldwide in 2017, based on revenue. Retrieved from https://www.statista.com/statistics/717710/market-share-cosmetics-personal-care-products-markets/

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PROFESSOR NOTES

 Within this assignment you had excessively copied and pasted material in this assignment, which resulted in a similarity index score of 21%. Based on my welcome announcements, you are to correct your work prior to submitting your assignments for this course Please ensure to paraphrase all of your work in your own words and cite your work in APA format. When reading your slides, there were areas within this assignment that was not substantive and needed to be corrected prior to submitting this assignment. The basis of your marketing plan for your strategic plan for this course is to implement your research from your marketing strategy. What will be the basis of your analysis based on measuring your marketing data?