Skin care cream

Skin care cream EXECUTIVE SUMMARY This Term paper examines different aspects and issues involved in the development and operationalization of IMC strategy for Natural Menz Fairness Cream. Natural Menz Fairness Cream is a special skin fairness cream for Men. This is a cream made of all natural ingredients and having no side effects and focusing on value-added products which are not widely or readily available in any other companys cream. I have made marketing strategy including competitors analysis and marketing mix of fairness cream. The Marketing Mix Is The Set Of Decisions About Price, Promotion, Product And Channels Of Distribution. Only By Addressing These Elements We Can Actually Implement Our Marketing Strategy. I have designed distribution processes resulting in lower distributing costs and high profitability. Integrated Marketing Communication (IMC) is the judicious and efficient use of the promotional tools so that a universal, clear, and effective promotional message is communicated amongst the target audience. Product promotion involves informing, reminding, and persuading the consumers about a particular product or service. I have made IMC plan based on various communication mix tools like Advertising, Direct Marketing, Sales Promotion, and Publicity/Public Relations and Personal Selling. And established a budget method according to purchase advertising, and establish marketing and support activities for distribution and promotion of Natural Men fairness Cream. So in this term paper I have made IMC plan for Natural men fairness cream and then implement it and then evaluate it. Skin Care market The skin care market is valued at $180 million in India. With safe and effective procedures, advancement in medical technology, increase in awareness, the Indian Skin care solutions business is growing very fast. The skin care market can be segregated into toners, cleansers, sunscreens, anti-wrinkle creams, dark circle removing creams, astringents, facial creams, moisturizers, fairness creams, day and night creams, etc. Out of these, facial creams, moisturizers, fairness creams, day and night creams, etc. are the most popular products and account for approximately 60% of the skin care segment. The skin care market is at a primary stage in India. The penetration level for both the urban and rural market is low. Many people still prefer to use homemade and traditional products to cure the skin problems. However, within a period of five-six years, the use of skin care products has increased significantly in India. With changing life styles, increase in disposable incomes, greater product choice and availability, and influence of satellite television, more people are taking interest in personal grooming. The facial skin care market is booming. Products are competing with one another to take shelf space in the retail stores. Facial skin care products have become an essential part of the beauty market. Like western countries, creams and potions are applied in India also, in an effort to remove the pimples and the acne, fight stress and worry lines, and to remain young. Since the penetration level is still relatively low, growth is expected to be around 25% over the next five years. In the skin care category, Fair Lovely fairness cream, with a penetration of 75%, accounts for 60% of the skin care market in rural India. It also enjoys the undistinguished patronage of 58% of its user households. Both Ponds and Fair Lovely are enjoying a monopoly in the rural markets in their respective categories. Rural India is not averse to trying out the premium brands at high prices. Major players in Skin Care Market Some of the major players in this segment are Hindustan Lever (Fair Lovely, Lakme, Ponds) with a market share of 53%, followed by CavinKare- Fairever with a market share of over 12 % and Godrej-Fair Glow with a market share of 3.4 %. The other players that have a presence in the market are Emami (Gold Turmeric and Naturally Fair), Revlon (Fair Glow) etc. Fairness CREAMS MARKET in India Fairnesscreamshave become a vital product for the Indian companies in increasing their overall sales due to the importance given by Indian consumers towards fairness. As India is a country known for its diversity different consumers from different parts of the country prefer different brands. The leading players in the market includes Hindustan Lever Ltd., (HLLs) Fair Lovely with 76 percent of the market share and Cavin Kare s Fairever with 15 percent of the market share. Other important players like Godrej s Fairglow, Emmas Fair and Handsome, Vicco and Himalaya share the rest of the market share. There are number of fairness creams and other skin whitening products in the market such as peel-offs, serums, lotions etc. All the fairness creams have similar basic ingredients but the several additions make them more suitable to some particular skin type and may irritate other skin types. Sometimes and in some people it may have side-effects there are a number of creams in the market and manycosmetics. India has a tropical climate with maximum number of months having sun shining as the brightest star. Moreover, the temperatures are rising day by day. These factors create a need for the otherwise darkened skin due to over-exposure to the shining sun. All the companies are reaching out to the target customers through its wide range of fairness creams.AloeVeraextract, turmeric, vitamin-E, lemon extract are some of the ingredients which form major formulations. Another advantage of such fairness creams is that they tend to clear dark spots, brighten the discolored, pigmented skin and are suitable for all skin types. They have to be used twice a day on face and neck after cleaning them with a face wash. All thecosmeticscompanies have at least one fairness cream under their brand name. Although packing changes regularly, formulations remain the same. Starting from the most popular brand, Fair Lovely plays as the market leader with oldest brand and highest customer base. There are two more variants added to its original brand. They are anti-marks and ayurvedic range. For that flawless look Ponds of HLL and Oil of Olay of P G, quite openly challenge the seven-day test with a money-back guarantee. Shahnaz Herbal claims its product as herbal and best in its range. This product is economical in range as against the normal line of products at premium prices. For the last few years, Emami is selling its fairness cream for men The product is a great success, especially in small towns and cities. As most of the Indians are very much bothered about their colour complexion the fairness creams enjoy very good market growth rate when compared with other related product categories Description of Natural Menz Fairness Cream My Company (Natural) has decided to develop a new skin fairness cream for men. We wanted to make a product that was efficient in and affordable for Customers. So we developed an affordable and effective men fairness cream to sell to our customers. The name of the product is the Men fairness cream and Brand name is natural. There are few creams in the market that portray effectiveness, but cannot prove it. Our product will come in a very attractive container, which serves a better purpose. This product provides fairness to men. We will offer the product by meeting the objectives all the stakeholders of the organization. We want to cater to the demand of the customer with effective and affordable skin care cream. We plan to have an annual growth rate of 20%. We plan to establish high brand image of the fairness cream to our customers and provide them with products at a reasonable cost. We are planning to become one of the top three organizations in this segment in one year. We will target our customers by the needs approach. The concept of need will be perfectly applied to our target market. Our main grounds of introducing this unique concept and product line are to address the problem faced by men for not having fair skin. The problem or need to manage healthy looking skin is being answered in the best possible way by our product. Even though there are alternatives available in the markets to address the problem, none of these products have been able to address the need of affordability for everyone. We have tried to launch the fairness cream by informing our Customers that addresses their special needs and wants in the best possible and convenient way that provides a solution to their dark skin by proper customer satisfaction. The company which will be able to provide maximum consumer satisfaction and maximum possible solution to consumer needs and wants will be able to sustain in this competitive arena. Marketing plan Situational analysis Every organization is facing a lot of problem at present time in market analysis, so it became very necessary for every organization that before setting any objective the organization must be carried out situation analysis in order to recognize strength, weakness, opportunities and threat present in the organization. According to Sally and John, marketing plans are the written document or blueprint for implementing and controlling an organizations marketing activities related to a particular marketing strategy. A successful marketing plan is able to improve organizations profits and growth, uses in objective setting and monitors results. So to gain a successful market plan it is necessary to understand the current situation comprehensively and trends affecting the future of the organization.Situation analysis plays a vital role in developing marketing plan.First of all, its help our company to lead the dynamic marketing environment in the shoes market that will help to lead the uncertainty, threats and opportunities for marketers. Marketing managers who success to know changes in environment through situation analysis can lead their companies to capitalize on opportunities and cope with threats created by changes. Then, systematically analyzing situational environments in order to identify our customers and understand their needs. There are certain opportunities for Skin fairness Company, such as increase more and more men target market and increase market and market share through integrated PR, advertisement and promotional campaign. Increasing competitions a Threat to Skin care industry. Market Competition Our main men skin care cream competitors are: Emami with Fair and handsome cream and Fair and Lovely with Menz active skin care cream for men.Nivea is also entering with its fairness cream for men. SWOT Analysis of Natural Menz fairness Cream SWOT analysis will help me to identify our company strength, weaknesses, opportunity and threats internally and externally both. Through this, we can easily identified our Natural menz fairness cream competitors in the market that are fair and handsome and fair and lovely menz active and once we know the company weakness and what kind of opportunity we have for the present and future prospect then we can easily make cost effective IMC plan and strategic IMC plan for the company. In SWOT analysis of the company, we have found the following that will help to make more strategically and cost effective IMC plan: STRENGTHS Strong Market Research. Natural ingredients used in Cream. Strong sales and distribution network. Having easily access to skin care cream at low cost. Well-established linkages with buyers in all parts of India. WEAKNESSES Lack of Finance and Experience in this field Environmental problems Opportunities Increasing per capita income drives Skin care cream growth A changing profile of a differentiated set of consumers. Large scale potential customers. A buoyant growing economy. Growing international and domestic markets. Retain customers through quality and natural ingredients in cream and timely deliveries. THREATS New entrants/local competitors/ MNCs: These would increase the competition like Nivea is entering in men fairness segment. High internal competition Emami and Fair and lovely also catering the men fairness segment. Technological change: This makes the products obsolete in short span of time. So we should focus have to focus on technological innovations from time to time. S.T.P. Segmentation The segmentation will be on the basis of following bases:- Age (18 or Above), Gender (Men), Behavioral Lifestyle, Income Occupation Regions (East, West, North, South) etc. Targeting Target market is men who want Fair skin and wholesalers and Retailers who are in the business of selling cosmetic goods. Positioning We will position our cream on the basis of natural ingredients used in it. We will market this cream by giving them a clear comparison between the chemical-based products they are now using and our natural products. Marketing mix or 4Ps PRODUCT Natural Menz Fairness Cream is a new skin fairness cream for men.The name of the product is the Men fairness cream and Brand name is natural. Our product will come in a very attractive packaging having detail of price and ingredients, which serves a better purpose for informing the consumer and for Promotion of Cream. This fairness cream will be provided to our customers at a reasonable cost. Our main grounds of introducing this unique concept and product line are to address the problem faced by men for not having fair skin. The problem or need to manage healthy looking skin is being answered in the best possible way by our product. Even though there are alternatives available in the markets to address the problem, none of these products have been able to address the need of affordability for everyone with natural ingredients. We have tried to launch the fairness cream by informing our Customers that addresses their special needs and wants in the best possible and convenient way that provides a solution to their dark skin by proper customer satisfaction. The company which will be able to provide maximum consumer satisfaction and maximum possible solution to consumer needs and wants will be able to sustain in this competitive arena. Price We will maintain our pricing positions as a Low price provider. We are the best product available from the most discriminating consumer. We intend to maintain our separation from the price competition initially by providing creams at low cost. Price increases will be due mostly to the fluctuation of our ingredient prices. Price of my product is Rs 25 of 75 gm. The strategy used for Pricing is PENETRATION APPROACH Strategy. PENETRATION APPROACH It is an approach in which we set a price firstly low and then as demand increases we increase the price of the product. PLACE Once a sale is made, the product is shipped to the distribution point our facility. We will be looking at setting up a drop-shipment so goods travel directly from the manufacturer to the customer. Our whole physical distribution process will be fueled by sales. The following activities will be coordinated in order to physically move our product: Communication between order processing and physical distribution. Warehousing of finished product for distribution. Selection of transportation method to move the finished goods from warehouse. Handling the finished product at the distribution point. We will also provide necessary delivery service to customers in a timely manner and keep costs under control. Promotion In our Promotional strategy we will try to change consumers buying behavior, to have a brand image, to increase profit, to increase sale of our product. We will apply two kind of sale promotion, one is directed toward consumer and other one is directed toward trade such as dealer, supplier, retailer etc. Consumer sale promotion tools Trade sale promotion tools. IMC PLAN FOR Natural MenZ fairness Cream Integrated Marketing Communication (IMC) is the judicious and efficient use of the promotional tools so that a universal, clear, and effective promotional message is communicated amongst the target audience. I have made IMC plan based on various communication mix tools like Advertising, Direct Marketing, Sales Promotion, Publicity/Public Relations and Personal Selling. IMC objective The IMC objective of the Natural company is following:- To Increase sale by 50% in next six month. To Increase brand awareness. To Increase customer loyalty. To Increase desire of customer for purchase of men skin fairness cream. To Increase repeat purchase. To measure customer satisfaction. To create relationship with customer on personal level. To control and observe public opinion. To receive feedback from customer on regular basis Adoption Model Promotional Guidelines Utilize promotions that are consistent with and enhance marble product image Review success or failure of each promotion to help in developing future promotions Test new promotions when possible Use appeals that are of interest to your target market and that are realistic to obtain Make your objectives measurable and obtainable Develop total promotional campaigns, not just ads Marble need higher promotional budgets than established a good brand image Marble in out-of-the-way locations require higher promotional budgets than stores with heavy traffic. Advertising Advertisement plays a great role in the minds of the customers. It is a paid form of the non-personal product or service. In any of the advertisement every company must keep in their minds customers viewpoint. Remember that your customers are people without good technical or detailed understanding of your products and services. The mark of truly effective advertising and marketing is the ability to convey complex issues to the audience in a manner that is interesting, relevant, meaningful, and easy to digest very quickly. Thomas Jefferson suggested that The most valuable of all talents is that of never using two words when one will do and this is a good maxim for writing good advertising material. So this skin care cream advertisements will be simple and easily understood, truthful, informative, sincere, and customer-oriented. The main objective of the advertisement of the Hunky company will be the following:- To inform to the target market about our product. To persuade to the target market about natural menz fairness cream with respect to price and quality and with our positioning message. Of natural ingredients. Print ad of natural menz skin fairness cream A cream that can change your life makes your skin fair 100% natural ingredients. no irritation no side effects easy to use and easily available. cheaper price. DIRECT MARKETING It is one to one approach that uses Personal advertising media to produce an enquiry or some important results. In this we will get feedback about the product also. It can be done by direct mail, telemarketing, internet, person to person video or voice chat, personal interaction etc. TELEMARKETING Using telemarketing agency is a proven method of marketing. Telemarketing can be an extremely good and cost-effective method for generating sales enquiries, selling products and services. It is important to identify a good telemarketing agency, and to that ensure your aims, outline script. A good CRM (Consumer Relation management) computer system to manage lists, data, is normally essential for telemarketing is to be successful on any reasonable scale, and good telemarketing agencies will already be using such systems which hopefully will interface with your own systems. Good experienced telemarketing staff and managers listen to their audience. A good telemarketing agency will work best by developing their own approach to meet the broad requirements of a project brief and an outline of what you want to achieve, and how you want to achieve it. Consumers and businesses are protected by certain rights relating to direct marketing techniques such as telemarketing, and you must ensure that your activities adhere to these rules. BROCHERS LEAFLETS Brochures and leaflets can be used for a variety of purposes. It is distributed in different ways. A good printer can provide examples and castings. The main aim of a brochure is foremost to generate new business through providing information in a way that appeals to the reader. Some brochures and leaflets are pleasing pieces of art, but they dont achieve anything for the business. If you work with a designer be sure to control any fanciful tendencies and keep the message and style to the point. Too much spent on a brochure can give the impression that your business is extravagant. When producing leaflets and brochures think about the way that they are to be distributed. If it needs an envelope try to avoid using a non-standard envelope size, which will add cost unnecessarily. Do you want people to retain the material? If so perhaps a business card or plastic credit-card-type attachment would help? SALES PROMOTION In Sales promotion we will provide various consumers and trade promotional tool such as rebate, discount, gift, contest, coupons, price deal, contest game, sampling to the target market to increase sale of skin fairness cream. There are certain objectives of the sales promotion of skin fairness cream. To increase immediate product sale To increase support among the marketers sales force. To gain the support of the trade in marketing the product SALES Promotional tools By the help of Promotional strategy we will try to change consumers buying behavior, to have a brand image, to increase profit, to increase sale of our product. We will apply two kind of sale promotion, one is directed toward consumer and other one is directed toward trade such as dealer, supplier, retailer etc. Consumer sale promotion tools We will apply following promotional tools to increase sale among consumers. Price DEAL: -Price deal is temporary reduction in price of product. We will provide two type of price deal: cents-off deals and price-pack deals. Price deal will be is given at various times to stimulate purchase of skin fairness cream. Coupon: A coupon is typically a printed certificate giving the bearer a stated price reduction or special value on a specific product, generally for a specific period. In this We will provide Various company issue various kind of coupon that contain various discount price customer get the advantage of this discount and purchase skin fairness cream at low price. Offer: There is various kind of gift that will be offered by various skin fairness cream industries. Premium:sometime various companies like Emami and Fair and Lovely etc. offer some gift or at bargain price to encourage customer buying. Sampling:Some company like American eagles to known customer feedback provide free sample of various skin fairness cream according to their preference. Advertising Specialties:Advertising specialties also call a promotional product. It will be mostly given to our loyal customers. It includes various cards like birthday card or gift, New Year card. It is mostly done to retain old customer. Trade sale promotion tools Objectives of Trade Sales Promotion: Gain/maintain distribution Influence resellers to promote product Influence resellers to offer price discount Increase reseller inventory Defend against competitors Avoid reduction of normal prices There are various sale promotion tools that stimulate trade to promote company product. There are a lot of trade sale promotion tools some are as discussed below: Trade Allowances Trade allowancesare short-term special allowances, discounts, or deals granted to resellers to stimulate reseller to rapid purchase of their product. Point-of-Purchase Display Point-of-purchase displays are generally used at the retail level to call customer attention to a featured product. In this company employees observe every retail shop and that retail shop that display more company product will be winner of special gift or prize After implementing these different techniques of sale promotion we monitor result and evaluate these by comparing with objective set before implementation MARKETING IMPLEMENTATION Successful implementation calls for breaking up the plans into micro-level activities, timing, and scheduling them, assigning them to people -in-charge, coordinating their efforts and monitoring the execution process. Marketing plan basically implemented on the basis of market segmentation. We have gone through the target market segment which basically includes:- Middle income class Lower income class High income class Implementation is an integral part of strategy. It make sense when it is implemented into Indian skin care market it saw an opportunity for an organized sector. The customer was moving towards branded goods in other segments. Natural did the process of creating brands in the minds of customer. Launch a blind ad campaign on billboards and magazines in all A class areas of major cities and magazine with respect to target market. Heavy advertising on TV, newspapers and magazines Set displays of skin care creams in showrooms and major dealer outlets in all cities. Continue Advertising. Evaluate Performance The Goal of our marketing plan is to achieve market objective that are established before implementation of marketing plan. We evaluate and control our strategic tactics by comparing our result with standard established before setting of plan, by measuring customer satisfaction and brand loyalty. If result is less than our standard than it means there is any default in implementation and monitoring in the program. The people who are responsible for the monitoring and control of the marketing plan will be the Marketing Executives, Sales Managers, Media Managers, Market Research Departments, and the Production Managers. Manager has to measure the actual performance either through consumer surveys or sales figure. Whether Sales have been increased or not after launching of IMC plan. The market share have increased or not after launching of cream. Brand image have to increase because of our marketing strategies used. it must got success to satisfy their customer towards their new product Manager got to know these outcomes by comparing actual performance with set standards of new product. These steps also helped out to take further decision or plans. Some activities will be carried out for evaluating the overall performance that will be precisely and closely evaluating the effectiveness of the strategies and tactics for example the gathering and structuring of data regarding market, product, consumers and the pricing trends, then the generation of daily sales report should be maintained and then in the end continuous reconfirming of the marketing budget and activities by the managers of different divisions. BUDGET A budget is generally a list of all planned expenses and revenues. It is a plan for saving and spending. A budget is an important concept in microeconomics, which uses a budget line to illustrate the trade-offs between two or more goods. In other terms, a budget is an organizational plan stated in monetary terms. In summary, the purpose of budgeting is to:- Provide a forecast of revenues and expenditures i.e. construct a model of how our business might perform financially speaking if certain strategies, events and plans are carried out. Enable the actual financial operation of the business to be measured against the forecast. Procedures for Setting a Promotional Budget All-you-can-afford method Incremental method Competitive parity method Percentage-of-sales method Objective-and-task method Conclusion To put the pre-going discussion in a nut-shell. It can be safely be ventured to opine that our company has much potential at that time but if we use the above strategy in proper manner we easily conclude that we will be able to lead the companies in the India and abroad. However there are some discrepancies in such sectors so we can realize that all the features that are involved directly or indirectly in the production are working properly at their positions .As for Indian customers but In all over the world. Speaking for natural menz skin care cream is the evident that the company must benefit from its target customer on the basis of quality and originality. Speaking for natural menz freshness cream it is evident that the company must benefit for the spectacular development of its company in the skin care cream district sales of finished products. After taking an overview of the strategies of Natural menz freshness cream we can easily understand the successful journey of Natural in all factors of advertisement and proper awareness about its products to the customers before launching and after launching. Also evaluates the response and feedback of customers on basis or its advertisement research. bibliography websites http://www.fairandlovely.in/about_FAL/about_fal.aspx http://www.unilever.com.lk/ourbrands/personalcare/FairandLovely.asp http://www.scribd.com/doc/21635826/01-Fairness-cream-research http://www.livemint.com/2008/01/23224142/HUL-to-launch-new-skincare-ran.html?d=1 http://www.naukrihub.com/india/fmcg/overview/skin-care/ books Marketing Management A South Asian Perspective by Philip Kotler Newspaper/Journals/magazines 4 Ps Indian management Business today Business line The Hindu