Target Market, SMART Goals
Marketing is a broad term which includes promotion, advertisement and various other attributes. It is used for increasing the demand of the products in order to attain the goals and the objectives of the organization. With the help of marketing and its attributes, organization could easily launch the product or business in the target market with the view to attain the desired goals along with adequate competitive advantage. In this report, new product launching, target market, and the marketing mix principles will be discussed in relevance with Dove’s new shampoo. Dove has planned to launch a new shampoo in the market with the view to expand their sales as well as to provide qualitative products to its target audience. Along with targeting and positioning, promotional activities will also be discussed in this report in relevance with the new product to be launched in the market. Dove has developed SMART goals in terms of launching the new product in the market which states increase of 10% in the revenues with the new shampoo. The new shampoo is primarily made for women thus; the primary target audience for Dove in relevance with this product will be women. The new shampoo launched by the Dove includes natural ingredients which will strengthen the women’s hair as well as it will also help them to keep their hair longer, thicker and natural looking. This product will builds up confidence level amongst the women as the product includes olive oil, avocado, eggs and aloe vera and all these materials are quite good and effective for hair. Under this report detailed marketing mix will be discussed in relevance with enhancing the demand of the product in the target market as well as to expand the business in the global market along with gaining the competitive advantage at the global level market.
The new shampoo launched by the Dove Company has the capability to make the hair thicker, natural and shining for a long period of time. The shampoo contains various natural ingredients along with artificial chemicals which has made the shampoo unique and advanced from its competitors’ products. New shampoo launched by the organization will make the women feel confident as the major target audience for the company will be women. It will help the target audience to feel confident about their beauty. The new product includes olive oil, avocado, aloe vera and eggs and all these ingredients are effective for keeping the hair strong and for hair growth (Du & Sen, 2016).
Product
The product is specially made for women’s hair and Dove has guaranteed that this product will nourishes the hair from the inside along with looking them healthy and shining for a long period of time. Newly launched product by Dove is especially developed for women in order to keep their hair healthy so that they could maintain their beauty. Dove is known for delivering qualitative and most natural products to its customers at reasonable prices. They also do not hire any well-known celebrity or any big personality for promoting their products (Choudhury, 2017).
In terms of developing a unique image in the competitive business environment, Dove uses unique strategies. They have adopted the promotional strategies under which common people are asked to perform and share their experience in relevance with the usage of the products. Customers’ real time feedbacks help the organization to increase the demand of their products as well as it also enhances the effectiveness of their products. They use natural ingredients in their products through which they don’t find promotion of the products through celebrities useful (Greene, 2014). This will help the organization to develop their brand image in the target market and brand value will help them to increase their sale volumes and the profitability. This will lead them towards attainment of the growth and expansion objectives in the target market.
Dove uses unique styles for packaging their products as this is another crucial factor to attract the target audience and to increase the sales and the demand of the newly launched products. Dove has adopted the strategy under which the customers’ real life experiences after using the product will be printed and the major benefits of using the products will also be printed over the packaging of the products to make the product more attractive (Schultz & Yates, 2015).
The product has five crucial benefits which are prevention from hair loss, dryness, roughness, dull hair, and dandruff. This will also be used as the strategy for developing the unique image of the product in the target market. With the help of this, this will be treated as the development stage for the organization. Along with these unique features, organization will easily be able to promote its newly launched shampoo in the target market and this will help the organization to attain its goals and the objectives with regards to the expansion and growth (Malhotra, 2014).
Branding Strategies
Dove is a well-known brand in the cosmetic industry and they are known for delivering qualitative products to its consumers at reasonable prices. From supermarkets top the retail stores, Dove’s all products are available at the international level. Dove is present in most big countries across the globe and they have launched the new shampoo in the target market with the objective to expand their market share as well as to increase their brand value. The new shampoo will be available through various channels including the online shopping websites. Online shopping medium helps the customer to get the product at their places without putting many efforts (Kotler & Armstrong, 2013).
Dove’s new product is shampoo which is made up of unique natural ingredients and this is the major feature of the product through which its can gain competitive advantage in the target market. These unique features of the product help the women to give a fresh and natural look to their hair. Place of distribution is the major factor for enhancing the demand of the new product in the target market.
Levels of distribution intensity are selective, intensive and exclusive. Intensive level of distribution describes that the product will be available at every outlet in the target market. In terms of selective distribution channel, organizational products will be available to the selected outlets in terms of maintaining the brand image of the organization. While the exclusive level of distribution says that the product will be distributed through one retailer in the target market in terms of increasing the demand of the product but in the scenario of Dove, exclusive and selective type of distribution levels will generate positive results. Thus, organization will use intensive type of distribution in terms of distributing the products to its target audience (Armstrong, et. al., 2015).
Retailing is another factor through which organization distributes its products and services directly to its customers. In retailing process, number of parties is involved such as manufacturer, wholesaler, distributor and retailer. Then the product reaches to the customers for the consumption purpose. Retailing has its unique benefits to consumers as well as to the wholesalers and manufacturers (Armstrong, et. al., 2014).
Promotional goal for the Dove is to enhance the demand of the newly launched shampoo in the target market. The shampoo is developed with the purpose of serving in an effective manner to its consumers through providing an intrinsic valuable good. Apart from increasing the demand of the new shampoo launched by the organization, increase in the revenues by 10% with the shampoo is another primary goal for the Dove. In terms of promoting the products in the target market, organization could utilise appropriate and trending promotional and advertisement techniques such as advertisement through television, social media promotions, etc. (Sagala, et. al., 2014).
Packaging
For fulfilling the goals of the promotion, organization has decided to adopt the promotional mix strategy which consist of advertisement, personal selling under which free samples are distributed to the target audience, developing and maintaining public relations, sales promotion and the direct marketing strategies. In terms of advertisement, organization will use various trending and advanced level of promotional and advertisement techniques for spreading awareness amongst the public with regards to the new product and its features in the target market (Oladepo & Abimbola, 2015). Personal selling will be also be implemented under which free samples will be distributed for describing the benefits of the product to its target audience. Direct marketing and sales promotion will be done by providing various offers to the target audience in terms of increase the demand and the sales for the newly launched shampoo in the target market (Yang & Lee, 2016).
Integrated marketing communication is the crucial tool of marketing and it helps the organization to communicate with its target audience and its stakeholders with regards to spreading the information in relevance with the new promotional offers, benefits of the products, etc. Apart from this, the factors which will affect the promotional mix strategy will also be used.
Factors such as type of product, type f market, usage of product, etc. will be covered under the promotional mix strategy in terms of approaching to the target audience in an effective manner (Summers, et. al., 2006). The last factor which will be used in the promotional campaign will be the choices of advertisement channels for approaching to the target audience.
Mixture of print media and digital platforms will be used by Dove for promoting its newly launched product in the target market. These media platforms have the capability to cover the large part of the market in an effective manner as well as it is also essential in terms of acquiring the desired goals for the organization (Nour & Almahirah, 2014).
It is an essential element for a product as it plays crucial role in terms of growth of the product in the target market. Price of a product should be the same in relevance with the value offered to the customers through that product. The six stages through price of the product could set are pricing objective, estimating the cost of the production, demand of the item, competitors’ products price, pricing method and selecting the final price for the particular product (Kitchen & Burgmann, 2015).
New Product Development Process
Dove will analyse all these aspects before selecting the final price for their new shampoo in terms of increasing the demand of the product as well as to attain the organizational goals and the objectives with that product (Percy, 2014). Pricing objectives for Dove in relevance to its new product are survival of the product in the target market, maximising the current profit, increasing the market share, attaining the competitive advantage and acquiring the leading position in the dynamic business environment (Luxton, Reid & Mavondo, 2015).
Price of the product will be set through considering the determinants such as cost of the production, demand of the product, the brand value of the product and its competitors’ products’ prices in the same category. Price should be set so that the cost of the product could easily be acquired as well as the reasonable rate of the profit which is essential part for the growth of the company and the product as well (Thorson & Moore, 2013). Competitors’ products’ prices also plays crucial role as this is essential part to gain the competitive advantage in the target market.
While selecting the final price for the product following attributes will be considered:
- Impact of other marketing actions
- Company pricing policies
- Gain-and-risk-sharing pricing
- Impact of price on stakeholders
Conclusion
From the aforesaid information, it can be concluded that for launching a new product, company should use appropriate marketing strategies such as marketing mix technique as it is the most crucial and result oriented strategy. Under this report, Dove’s marketing strategies were discussed as the company has planned to launch a shampoo in the target market which will help the women to keep their hair shiny, healthy and dull free. In terms of spreading the awareness amongst the target audience in relevance with the new product, company has implemented the detailed marketing mic technique.
References
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Armstrong, G., Kotler, P., Harker, M., & Brennan, R. (2015). Marketing: an introduction. Pearson Education.
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Schultz, L. M., & Yates, R. M. (2015). A Marketing Audit for Nursing Administration. In Proceedings of the 1983 Academy of Marketing Science (AMS) Annual Conference (pp. 181-186). Springer, Cham.
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