Submitting Your Marketing Plan
Week 2 Assignment.docx
Running head: ROSSETTO MARKETING PLAN 1
ROSSETTO MARKETING PLAN 2
Rossetto Marketing Plan
Michelle Spencer
Grantham University
Rossetto Marketing Plan
Marketing of Rossetto, lipstick brand, maybe one of the most interesting things if the right approach to the market is used. Having invented Rossetto as my product, then I would need to come up with a strategic planning on how to market the product and reach most parts of the market. It is essential to remember that effective marketing of my product would lead me to high profits. The mission of my product would be "making women empowered yet elegant". Furthermore, as a marketing strategy, I would have a vision of "improving the confidence, self- independence and morale of woman along with a touch of elegance.” I would ensure that my mission together with my vision is well indicated in the cartons containing my product as a way of encouraging the readers while making their choices in the market (Ferrell & Hartline 2014). A well-written mission and vision will definitely attract the eyes of many buyers and probably increase my sales.
My market target would mainly be ladies aged twenty-four years and above since they are most likely to use my product for beauty. Would be sure to apply SWOT analysis while marketing my product. My SWOT analysis would be designed as below
SWOT Analysis
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Strengths |
Name of the lipstick brand, pricing strategies, actual channels of distribution, the global technology |
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Weaknesses |
Aggressiveness requirements in product promotion, service costs may be high |
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Opportunities |
Future product diversification, new market caption, brand development |
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Threats |
The resistance of price competition from consumers, profit margin may turn low |
Table 1
Market Segmentation Strategy
Introducing the lipstick in the market, I would be targeting three main objects. that is Career for consumers, the Traditional user as well as the use of the product for Adventure (Ferrell & Hartline 2014). Under the career segment, it is where now I am going to factor in the idea of age bracket. The price, quality as well as quantities available in the market of Rossetto would follow age brackets (24 to 34), (35-44) and ladies with 45 plus years. The main reason for having age brackets in my brand is because of peer influences between age brackets. Ladies within the same brackets share many opinions and therefore if one gets chance to use my product, I would be guaranteed that ladies across that age bracket would be consuming my commodity. Furthermore, those within the age bracket (35-34) I may further divide them into three groups you may say group A, group B, and group C depending on their social classes. That would enable me to have the brand in different quantities as well as qualities which would be affordable to every individual within the age bracket bearing in mind that we have the rich, the poor, and the middle-class individuals within the society. While considering my market segmentation, would be essential I bring the product in different color, sizes, shapes, different container designing among other attractive features which I may include them in the labels of the lipstick.
Would produce the product in three main categories for purposes of capturing maximum customers. Take note that I am venturing into the consumer market and therefore I need to come up with commodities which will be accepted by all. Rossetto would appear in the market as "Animal Fat-free", "Natural and “non- toxic” Rossetto. Selling places would include but not limited to Urban areas, Metro areas, Malls as well as Online marketing and selling of the product. My selection of the selling areas is based on the availability of ready customers. For the purposes of the testing the suitability of prices in the market, I would employ a price skimming technique to price my commodities (Baker 2014). However, should it appear that the prices are appetizing in the market, I may keep my price constantly high. For the purpose of reaching wide markets, I would use various criteria of marketing including media print, personal selling, "PoP in Malls," World of Mouth, TV Ads, Digital Marketing among others.
Rossetto Value Proposition
The value proposition of my product will be based on three key things. Namely “Functional Makes you a Complete elegant woman,” “Emotional Boosts your confidence,” and “Economic Value for Money.” However, the Rossetto would have value pyramid with features or attributes being at the base of the pyramid, followed by the functional importance of the product, followed by Emotional product benefits, followed by “self- Expressive Benefits,” and finally “socially Expensive Benefits being the highest in my pyramid. The main concern of developing the pyramid to ensure I come up with product features which cut across all ladies in the market (Solomon et al. 2014). With my slogan “Rossetto makes you feel a complete elegant woman” As my advertising strategy.
Rossetto Readiness Phases
THINK FEEL DO
Consumers of my product will be notified about the product via advertisements and paying attention to the various traits, hence making them analyze, afterward, they would develop the desire to consume the lipstick. Lastly ensuring the product is available in most of the retail markets would make the consumers buy the lipstick as soon as it appears in the shops.
Pulling Marketing
Enlightening the consumers about the healthy or natural traits of the lipstick would encourage them towards buying the commodity even if the lipstick would be priced high (Solomon et al. 2014).
References
Baker, M. J. (2014). Marketing strategy and management. Macmillan International Higher Education.
Ferrell, O. C., & Hartline, M. D. (2014). Marketing Strategy Text and Cases, South-Western Cengage Learning. In Library of Congress Control.
Solomon, M. R., Dahl, D. W., White, K., Zaichkowsky, J. L., & Polegato, R. (2014). Consumer behavior: Buying, having and being (Vol. 10). London: Pearson.
Week 3 Assignment.docx
Running Head: PRODUCT 1
PRODUCT BRANDING 1
Product Branding
Michelle Spencer
Grantham University
28 Aug. 18
PRODUCT BRANDING
Branding is a technique that involves a process of giving a product in the mind of a consumer a unique name and image.
Importance of branding
Branding adds meaning and clarity to your products and to harness capitalism. It is also used for customer recognition.it helps in easy introduction of new products in the market. Strong brands increase customer loyalty. A strong brand enhances credibility and easy purchase of the product and lastly branding allows competition of the various products. The best branded will always have more customers.
Logo
A logo is a design that is always made up of a name, symbol or trademark that is easily recognized at a glance. It represents a brand. A brand is developed through a series of stages. The first stage is to identify your brand strategy in with your objectives. It is followed by putting in order all the tools that will be required to advertise the product for example the logo and website then lastly you are required to strengthen your developed brand.
The development process of a brand product undergoes stages which include;
· Who are your target customers? –the smaller the focus the faster the growth of your product
· Which is your target group? - you should research broadly on your target group broadly to enable your product to grow faster. You should understand the priorities of your clients.
· Identify your business strategy- your business strategy should be clearly defined. a strong brand will make your company grow faster.
· Put your brand in a good position- you should be able to show how your brand is different from others.
· Strategize your message- your message should emphasize the key relevant points and be able to address all the needs of your customers.
· Create your name or logo- this will symbolize your brand. They are for marketing your brand.
· Create your market strategy – this is to strengthen the visibility and reputation of your brand
· Create your website. This will help your clients to get more information on your brand.
After creating your product, you should plan on its launching through internal and external campaigns. You should have your own manifesto on your product.
Prime lipstick
Our brand product is prime lipstick. Firstly, this took me a lot of thinking in coming up with the look of the brand product and at last I chose the lipstick. I wrote a business plan which helped me to answer the questions that I didn’t know. This was the most challenging process because I had to identify my market and best-selling techniques to ensure consistency of my product in the market. My company idea was greatly influenced by a name. I knew a good name will attract more customers to my product and thus the name Prime. My main mission was to ensure people look good and have a new fresh look. Most ladies love doing make-ups to add an appeal to their looks and I thought of coming up with a product that they use mostly. I wanted to come with the best lipstick in the market that they will enjoy using and one that will make them happy. I used simple materials for example colour paints and white boards to try and trace on my product because I wanted to be different and unique. I created a website of which I went through it several times. I ensured the photos and brand mission were correctly put. I was able to design the web successfully all by myself. After having everything at hand, I created my own pages on all social media platforms; Facebook, twitter and Instagram to be able to share the message to my clients. I ensured it was the best.
I focused my growth on long-term .my brand experience will help create a strong relationship between my clients. I don’t expect an immediate payoff.my prices are customer friendly and I ensured they are of different sizes in order to meet all the customers. The picture below shows the prime lipstick that I came up with. It contains the logo and the brand name.
References
Meyer, H. D. (2002). The new managerialism in education management: corporatization or organizational learning?. Journal of Educational Administration, 40(6), 534-551.
Morphew, C. C., Toma, J. D., & Hedstrom, C. Z. (2001). The public liberal arts college: Case studies of institutions that have bucked the trend toward ‘upward drift’... and the implications for mission and market. Association for the Study of Higher Education.
Nguyen, N., & Leblanc, G. (2001). Corporate image and corporate reputation in customers’ retention decisions in services. Journal of retailing and Consumer Services, 8(4), 227-236.
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Week 4 Assignment.docx
Running Head: DESCRIBING A PRODUCT 1
DESCRIBING A PRODUCT 2
Describing My Product
4 September 2018
Grantham University
Lipstick Background Information
Evidently, the two genders have been observed to don lipstick for both war and worship, not to mention that this product has also been used as a tool for economic productivity for years. Again, this product has been considered as a probable health risk, making some of the governments to outlaw it; thus, raising the question why this product has become more than just a fashion trend in the society. Typically, cosmetics can be dated back to the ancient civilizations; particularly, the application of lip color remained ubiquitous among the Sumerians, Babylonians, Egyptians, Greeks and Syrians among others (Veloutsou, 2007). However, over the centuries, this product has been embraced and even shunned by diverse cultures as its pros and cons vary with history. During the 19th century half latter, lipstick and even cosmetics in general was associated with prostitutes in the Western society, but fortunately, the 20th century witnessed a true societal acceptance of this product. Consequently, the newfound acceptance by the society, influenced by the elevated enhancements in both applicators manufacture and metal tubes that led to cost reduction of cosmetics resulted to a widespread use of lipstick and increase in popularity (Yusko & Brunette 2018).
The Lifecycle Analysis of Lipstick
One of the significant concepts in marketing is determining the lifecycle of any product. Manifold cosmetic firms have experienced long-lasting development after their inception, which is the main objective of any business (Veloutsou, 2007). Regardless of any volatile customer sentiment as well as disposable income, the customers will always be demanding new form of lipstick. For instance, in the recession era, lipstick consumers engaged in smaller luxuries like applying lipstick so as to lift their spirits, but later as the economy recovered, they went on to purchase novel products so as to keep up with the fashion trends (Cascini et al, 2011). It is a growth that does not require any effort from the company since any new product (lipstick) will be necessitated by changing customer preferences alongside fashion trends, on top of the company continuing to innovate. During the maturity stage, any marketing spend has to be carefully monitored to avoid similarity with the competitors.
Specific Features and Benefits Provided by Lipstick to the Market
My lipstick will be an innovation product; a ‘Double Lipstick’ that will be comprised of various colors. Sufficiently, this novel product will be in various colors and even choices for consumers use and satisfaction (Goldenberg & Mazursky, 2002). The manufacture of this new product is very simple and highly affordable. This new product will not be lost easily simply because it will be designed using two powerful magnet bars; as a material for the manufacture of this lipstick. The other materials include: two varied colors or same colors of the lipstick and strong glue (Veloutsou, 2007). In redesigning process, the two magnet bars will be glued beneath the two varied color lipsticks, and then attached with the other one. Therefore, a customer will just be needed to switch the color and then attach with the color of his/her choice when they wish to bring along a different color to an occasion.
Description of the Aesthetics, Packaging, Labelling of the Product
The principal ingredients that will be found in lipstick include: wax, pigment, oil and alcohol. As wax recognizes the product’s shape, oils like mineral, lanolin, caster or even vegetable will be added to the wax. As preservatives and de-oxidants, pigment and fragrance are added; preventing the lipstick from becoming rancid (Cascini et al, 2011). During the manufacturing process, the three key steps to be followed include: the lipstick melting and mixing, pouring this mixture into the lipstick’s tube and then packaging it for sale. After this lipstick has been retracted and the tube capped, then the lipstick can be labelled and packaged. Notably, labels are used as an automated operation part so as to identify the batch (Goldenberg & Mazursky, 2002). The final step of the manufacturing process (packaging of the lipstick tube), is comprised of several packaging options such as bulk packs, individual packs as well as packaging the product as a single component in a make-up kit.
References
Cascini, G., Borgianni, Y., Cardillo, A., & Rotini, F. (2011). Design of innovative product profiles: anticipatory estimation of success potential. In DS 68-9: Proceedings of the 18th International Conference on Engineering Design (ICED 11), Impacting Society through Engineering Design, Vol. 9: Design Methods and Tools pt. 1, Lyngby/Copenhagen, Denmark, 15.-19.08. 2011 (pp. 246-256).
Goldenberg, J., & Mazursky, D. (2002). Creativity in product innovation. Cambridge: Cambridge University Press.
Veloutsou, C. (2007). Identifying the dimensions of the product-brand and consumer relationship. Journal of Marketing Management, 23(1-2), 7-26.
Yusko, J. A., & Brunette, M. (2018). U.S. Patent No. 9,928,476. Washington, DC: U.S. Patent and Trademark Office.
Week 5 Assignment.docx
Running Head: DISTRIBUTION (LIPSTICK PRODUCT) 1
DISTRIBUTION (LIPSTICK PRODUCT) 2
DISTRIBUTION (LIPSTICK PRODUCT)
Michelle Spencer
Grantham University
DISTRIBUTION (LIPSTICK PRODUCT)
Introduction
The term distribution refers to the process of availing a certain product or service in the market for the customers either directly by producers or indirectly intermediaries or distributers. This process is usually categorized as one of the four elements of market mix. Therefore, distribution is an essential strategy when it comes to selling and advertising of a company’s available product to the market. In this present paper therefore, it will examine and discuss the channels of distribution structure that will be used to distribute the lipstick products to the customers/ market.
Case Illustration
The term distribution channels can be defined as the flow or path to which a product passes through from the manufacturers to the customers. I will use the indirect type of channel of distribution structure to market the lipstick products, (Garg, S. A., Singh, H., & De, K. K. 2016). This is because if I reach the end-user through wholesalers, VARs or other channel partners, I will create many successful marketing programs to drive revenue through my channel and I will be committed to their success. The following diagram shows the distribution channel flow i will use to market my lipstick product.
In order for the channel members to promote my product to the ultimate customer I will apply the strategy of pull marketing where I will create and establish a loyal following and draw the customers to the lipstick product through the distributers. The lipstick products will be first research the best places and methods of selling the lipstick product that will automatically generate sells more quickly. For instances, places such as near universities or schools are best places to sell lipstick products. Secondly, I will set the number crunching by knowing all the expenses associated with each distribution channel used. I will also include partnerships with a potential to promote my product and set a benchmark. Once this is done I will warehouse my products and distribute them according to how the customers are responding to the lipstick product, (Cui, T. H., & Mallucci, P. 2016).
To accomplish the expectations that my channel members and the marketer of the lipstick product I will use the marketing mix promotion strategy. This strategy is a vital component when it comes to boosting sales and brand recognition. The organization structure will be formal and enduring that every channel member will have to adapt to.
Conclusion
In conclusion, it is evident from the above paper that channel of distribution are essential in advertising and selling of products in the market. Therefore, every business should adapt to the distribution channel of indirect channel.
Reference
Cui, T. H., & Mallucci, P. (2016). Fairness ideals in distribution channels. Journal of Marketing Research, 53(6), 969-987.
Garg, S. A., Singh, H., & De, K. K. (2016). DIRECT AND INDIRECT EFFECTS OF MARKETING MIX ELEMENTS ON SATISFACTION. Academy of Marketing Studies Journal, 20(1).
Sa Vinhas, A., & Heide, J. B. (2014). Forms of competition and outcomes in dual distribution channels: The distributor’s perspective. Marketing Science, 34(1), 160-175.
Week 6 Assignment.docx
Running Head: IMC 1
IMC 1
Lipstick Integrated marketing communication (IMC)
Michelle Spencer
18 September 2018
Grantham University
IMC
Lipsticks are currently being used by many ladies in the world. They are offered in a variety of colors and styles. The variety of products in the market are made to meet the needs of the customers by meeting everyone’s expectations. Having a good product however at a great price can do nothing to you in a situation where its consumers do not know about it. This is the main reason why products should be promoted in a market. Promotion plays a key role of connecting the target product consumers to the product itself. Therefore, integrated marketing communication (IMC) in necessary in product promotion in the market. All the aspects of lipstick given in the market help in communicating something to the consumers. The price is critical because it communicates a specific thing about the product. IMC aims at altering the perception of consumers to a product.
The promotion mix
This are the specific marketing communication methods. They are used to show how marketers combine a range of marketing communication methods in the process of carrying out marketing activities. The methods used however attract a level of advantages and disadvantages.
Advertising
Lipstick should be advertised by identified sponsors in form of presenting the products available. This information can be tailored to consumers through radio, TVs, magazines, billboards and newspapers. The internet offers a big opportunity to running lipstick adverts because many consumers are frequent visitors of social sites like Facebook (James, 2016). Different forms of advertising methods can be used which include; a reminder advert, persuasive advert, and an informative advert.
Public relations (PR)
This is critical in the process of creating a goodwill between the product and target audience. This should be done in unpaid promotional activities. The product producers are obligated to pay for the PR attention received and this calls for significant spending on events.
Personal selling
Lipstick can use people in the process of developing relationship with target audience in the selling process. This is important in improving the rate of face-to-face interaction with consumers. This also helps in understanding consumer needs.
Sales promotion
This can be applied to increase the sale of lipstick in the market. This is applied by using discount techniques as well as offering an extra free product to consumers buying a specific quantity.
Digital marketing
This can be used to cover many people who do not know about the product. The use of digital marketing helps in displaying lipstick to consumers where they can choose products, order and then delivered at a certain cost. Search engine optimization can be used to ensure that the product pops up many sites of internet users. This helps to increase the consumer knowledge of people looking for lipstick products.
Objectives of the promotional approach
The primary objective of the methods discussed above is to communicate, compete, and convince. This means that all information given should be clear, with a high level of accuracy and can be used by stakeholders involved. The information given should help in persuading consumers to retain the product. The success of IMC will be measured by the results obtained. The sale of lipstick is expected to shoot higher upon increasing the campaigns in the market. The strategy used in the lipstick promotion is set to play a critical role in building the product in the market.
References
James Williams (2016) Introduction to business. https://courses.lumenlearning.com/wmopen-introbusiness/chapter/promotion-integrated-marketing-communication-imc/
Week 7 Assignment.docx
Running Head: FOCUS GROUPS 1
FOCUS GROUPS 1
Focus Groups
Michelle Spencer
Grantham University
Focus Groups
Focus groups have been used for a long term as research methods from their ability to easily gain information from various sources at the same time. Participants of focus groups are however selected randomly with each participant sharing a similar experience with the other but knowing nothing about them. These groups are also generally composed of between 8-12 participants with aim being studying a certain phenomenon.
For the focus group, I would ask questions such as how often each of them uses a certain brand of lipstick, how efficient is it to them, is the lipstick as messy as the others in the market, how long have they used the product and finally does the lipstick have any adverse or mild effects on their skin. From these questions I hope to gain information on how much the product has been accepted into the market, whether it meets the clients’ needs and how can it be made it even more appealing to its users.
I would compensate my focus group participants for their time through providing monetary incentives or even free meals for their lunch as a way of appreciating their effort. Other than this finding an easily accessible location for the meeting is part of the logistics for conducting the meeting. Other than this as a moderator I will have to organize my participants well enough to ensure no time is wasted during the discussion and discussion of the main topic is what will happen mostly throughout the whole time. The recording of the proceedings is also vital and the methods I would find most efficient include note taking or even audio taping if possible.
During the sample focus group, several issues arose including the ability of some of my participants to be easily swayed into concurring with others’ opinions. This made it extremely difficult to identify any truth from their statements. Interaction was however not as limited as I would have expected as most participants were able to express their opinions freely without the fear of judgment. Collection of the data was however not as effective as I had anticipated since I had opted for an audio tape which eventually broke before the session was completed. Nonetheless, this meeting was not futile since I was able to learn that each participant may have had a different opinion to the others concerning the product but at the end of it all each of them was able to positively state that it had improved their outlook on makeup generally.
References
Mcquarrie, E. F. (1989). The practical handbook and guide to focus group research/focus groups: A guide for marketing and advertising professionals. Journal of Marketing Research (JMR), 26(1), 121-125.
Herich, D. (2015). 7 reasons to add focus groups to your marketing mix. Global Cosmetic Industry, 183(4), 50-51.
Ingram, W. C., & Steger, R. A. (2015). Comparing the quality and quantity of information received from traditional, webcam and board chat focus groups. Business Studies Journal, 7(1), 33-45.