mkt 500 part 1 and 2
Running Head: ANGEL'S GREEN APPLE HAIR OIL 9
Lanyeh Pierce
Marketing 500
Dr. Jeff Kimmel
Strayer University
February 1, 2015
Angel’s Green Apple hair oil
About the Company
Every person wants to look beautiful that even helps to gain the confidence achieving the successful position in the work place as well as for the society. Angels Beauty at Los Angeles, California comes out with all the essential products that would take care of your skin and hair. Our products consist of all the organic ingredients and thus no worry to get any side effects. We understand your concern for skin, hair and thus our experts develop the products according to the type of your skin and hair. Get the right option that suits your skin and experience a new life with the healthy skin. Angel’s Green Apple hair oil is one of the products that would help you to achieve the smooth and gorgeous hair. It’s your skin but our responsibility to show you the perfect way to manage the entire condition. We have the option for online purchase that helps the users to get the right product easily. Also, one can have a consultation with the representative who would reveal how one can get a glowing look with the pretty hair. Trust us and we assure that you would get the best option understanding your real needs.
Company Analysis
Here is a complete analysis of the product that is useful to reveal the real benefits to the users. Initially the economic growth increased by 5 in the 1st half of 2009 that lead to a better financial condition. The Consumer price Index (CPI) also rose by 3,6% that showed the true economic facts.
Next, comes the legal issues that also put a serious impact on our cosmetic products. We follow the rules and regulations for promoting our brand that are represented as the legal suites. We maintain the suitable safety standards that are necessary to sustain the reputation for the brand. Also, we ensure the manufacturers that we meet all the legal facts relates to consumer issues. The Consumer Goods Safety Ordinance mentions that the cosmetic products get categorized under consumer goods. If it’s seen that the company has ignored that the rules from Ordinance a penalty would be charged that they are bound to pay. (Duane et al., 2008)
Nowadays, people want to get the real organic beauty products that would make them look as well as feel good. Keeping in mind of all these social factors we incorporate the pure components such as the extracts of green apple, jojoba oil etc. that nourishes your hair leaving it smooth and soft. It consists of three versions for oily scalp, dry scalp and the normal one. It manages to get the formula that fights against dandruff and other form of rashes that affect the scalp. Moreover, this product is free from any preservatives and thus you can the original benefit. We do not carry out any sorts of animal testing that may destroy the quality of our product. It comes out in a transparent bottle container made of crystal glass and the user can easily understand the quantity of oil left.
We made a detailed cost analysis for the product using a sophisticated tool accreted with the advanced technologies. So, the price gets the authenticated amount free from any errors. Even we carried out a detailed research and development (R&D) process producing the rich green apple hair oil that suits every type of hair. Alongside, the technology also helps the users to get the product online using the internet that saves time and effort.
Market Analysis
Initially, we target the females between the ages of 20-30, as our analysis shows the higher demands among this age group. The product is highly recognized by the females who are greatly benefitted using the green apple hair oil.
We will promote the product in such a way that we are able to establish an estimable position in the competitive market. We also reveal the fact while promoting that how passionate we are about our product due to which we eliminate animal testing from our procedure. The promotional advertisement carries the soothing images and videos that touch one’s heart. We also manage to get a good offline promotion that includes hoarding and banners displaying the benefits that you would experience. Therefore, we handle the effective public relations that help us to gain the real attention of the feasible buyers.
No worry, we maintain a reasonable price option ensuring that you can avail the beauty stuff without any difficulties. However, the price is fixed and discounts are valid according to the terms and conditions.
We have our physical store beside the TCL Chinese Theatre that’s the place from where you can collect the product easily. The online users can visit our official website where they can find a hyperlink with the name of the product. Following the steps accordingly, he/she can complete purchasing online with us, the one and only beauty brand.
Now, it’s the time to make a situation analysis that would be useful to manage a better form of marketing. First, we evaluate our goals deciding which strategies can be the best developing the strong marketing. Also, we perform a research comprehending how well we would become successful getting positive response for the product.
We respect our competitors and always perform the research discovering the new strategies that would take us to the higher level of success. Our skilled professionals understand the real situation according to which we approach. The competitor’s analysis is the great option to understand the market situation in their eyes. We keep a constant watch knowing whether new competitors are coming to the market and also need to know what products they are offering. In this respect, we also identify the objective of the competitors and the strategies they follow to manage the reputation in the dynamic market.
Customer analysis is another important part that would help to understand the real needs. The advertisements we develop are the result of such analysis that acts as the key to gain the huge number of consumers. We motivate the potential buyers to experience the benefits in real time and also try to retain the existing customers. It enhances the quantity and frequency of purchase that improves the overall profit margin. (Aaker and McLoughlin, 2009)
Collaborators serve as the medium improving the overall status of the business that’s essential to develop a better marketing. Suppliers, distributors and business partners are recognized as the collaborators who participate with an intention to continue a healthy vendor relationship. We carry out a detailed analysis knowing the capability of the collaborators before we handle the responsibilities to the particular agency.
We even understand the real climate of the business that’s essential to develop the ideal strategies. It includes all the above-mentioned features like the political environment, financial aspects etc. that influence the entire business condition. We possess a strong marketing field where the professionals are efficient to analyze the climate knowing the perfect situation.
Finally, we will perform the STP process where we comprehend how we can relate our business with the competitive market. It includes 3 features segmentation, targeting and positioning that together forms the marketing mix.
Market segmentation is the procedure where we divide the large market into small groups identifying the particular needs for the product. It helps us to reach the target easily knowing the real situation of the market.(Dibb and Simkin 2013)
Targeting means the increased attention to a particular segment with an intention to get higher responses from that area. We sometimes focus on the selected group of consumers knowing that they can be the key to unlock the winning position in the market.
Positioning is to analyze the product gets suitable for which segment that would be useful to develop a strong marketing mix. An ideal positioning of the product would be helpful to gain better profits reaching the desired target.
Demographics, Psychographics are the certain ways to develop the segments that helps the business to flourish. The marketing professionals at Angel’s Beauty are the proficient persons who are able to handle all the features without any errors.
Long-Term and Short Term Goals
The short term and long-term goals get related to each other and to achieve the second one it’s important to prepare the previous one successfully.
· I have a plan to increase the budget for advertisement for the next one year that would be helpful to enhance the promotion.
· Analyzing the trends of purchase for one year that would make the revenue double in a long run for 5 years.
· A short-term goal to achieve at least 95% positive feedback from the consumers would be useful to develop a strong infrastructure with more sales. It can be recognized as the long-term goal for 5 years.
Now, certain options that we focus on to manage the short-term and long-term goals are like:
· Number of website visitors
· Increased value of market share
· Maintaining a track for download of the website information
· Understanding the commitment from the customers
· Growth rate according to the competition existing in the market
· The adoption prices for new products in the market
We are able to handle the entire situation efficiently and thus we come out as one of the successful brands with a higher sales rate.
SWOT Analysis
SWOT analysis plays an important role in preparing a marketing plan It is a tool which can be used to take important business decisions (Fine, 2009).Here is a detailed SWOT analysis for my company that reveals some important facts about Angel’s Beauty. The facts are described here with the following points:
Strength
· The strong marketing team is able to develop the brilliant strategies due to which we get an enhanced market exposure.
Weakness
· Sometimes it happens that we are not able to promote our brand in the way we want to due to certain internal issues.
Opportunities
· Using our product, the Angel’s Green Apple hair oil free from any harmful chemical substances you can get the opportunity to explore a new identity for yourself.
Threats
· The increased competition with the similar type of products can be a threatening condition and we have to pay attention to sustain our reputation.
So, it concludes here with the fact that Angel’s Beauty is the brand with all the exclusive hair and skin care products giving you the rejuvenated look.
References
Fine L (2009). The SWOT Analysis. Retrieved from http://lawrencefine.com/downloads/SWOT%20-%20PDF.pdf
Duane et al., (2008). Understanding Business Strategy: Concepts and cases . Cengage Learning. Business and Economics
Aaker, D and McLoughlin D (2009). Strategic Market Management : Global Perspectives. John Miley and Sons . Business and Economics
Dibb, S and Lyndon, S (2013). Market Segmentation Success: Make it Happen. Routledge. Business and Economics