The document provides a marketing plan for The Bachelorette L.L.C., a global beauty company. It includes a PESTEL analysis, description of target markets, marketing mix, and SWOT analysis. The short-term goals are to make the brand a household name through advertising and improve distribution efficiency within 6 months. Long-term goals are to gain more market share through customer retention, measuring goals, and evaluating profits. A justification is provided for the company's direct marketing and relationship-building strategy to be implemented over one year.
Running head PART A THE BACHELORETTE MARKETING PLAN1PART A T.docx
1. Running head: PART A: THE BACHELORETTE MARKETING
PLAN 1
PART A: THE BACHELORETTE MARKETING PLAN 7
Assignment 1: Part A: The Bachelorette Marketing Plan
July 29, 2017
Introduction
The Bachelorette L.L.C. is a company that deals in beauty
products, initially female. Beauty products are increasingly
becoming popular by the day among ladies (Willett, 2010). The
company is a world leader, with global presence in the industry.
A range of products are on offer, including hair care, color, and
skin care and signature fragrances. The unmatched quality of
products and consistency in customer service globally have
made the Bachelorette a direct competitor of well-known brands
such as Olay, Avon and L'Oreal among others (Forbes, 2017).
Based in Philadelphia, United States, with regional offices in
Asia, Europe and Africa thanks to the growing market share.
The company will be backed with online selling through an
intuitive website, simple and secure. In addition to scaling
2. operations worldwide, the company continues to diversify its
products portfolio and recently launched hygienic products for
men.
PESTEL Analysis
Political Factors
The political environment affects the business operations. More
so, the success of an organization is pegged on the political
climate (Kotler & Keller, 2012). The Bachelorette will be
hesitant to maintain operations in politically unstable regions.
Europe, Asia and Africa were keenly selected based on stability.
In addition to that, the Bachelorette has had to adopt hybrid
corporate approaches to accommodate the political differences
(Kaser, 2013). However, the close ties between the United
States and other countries have created a conducive
environment for business.
Economic Factors
Economic conditions such as the inflation rate, which largely
influence the interest rates and consumer's purchasing power
could impact business for an international company. Since the
Bachelorette operates globally, global economic cycles and may
impact sales (Pride & Ferrell, 2016). In regions such as Europe,
the company continues to post profits owing to the economic
stability. The company is also in a good position to obtain loans
locally, thanks to the well-established financial institutions in
Philadelphia. The money may be used to expand the business.
Socio-cultural Factors
Consumer tastes and preferences are influenced by the local
culture. The products the company offers should therefore be
tailored to the different cultural and climatic conditions (Kaser ,
2013). The varying and rapidly changing needs of women
should be well addressed, while the desires of customers from
different ethnic backgrounds and classes should be met.
Technological Factors
Technology is rapidly changing, and the beauty and cosmetics
industry is no exception. Through technology, consumers are
exposed to many products at the click of a button and therefore,
3. innovation is vital to survive and remain competitive
(Stevenson, 2016). Aggressive social media and affiliation
marketing in combination with more research and development
budget allocation will set the Bachelorette atop the competition.
Legal Factors
The Bachelorette's products should adhere to all quality and
safety standards outlined by the Food and Drugs Administration
(FDA). Internationally, the products shall meet all the required
regulations after obtaining the operating licenses.
Primary and Secondary Target Markets
Initially, the Bachelorette focused more on hair care,
fragrances, and skin care and color cosmetics. The company
targeted primarily ladies, trendy and fashionable, and potential
buyers. Ladies are likely to buy because they are more
concerned with make-up and beauty products. Sales are the
bigger chunk of the total revenue for the company. Thanks to
competition, the company also targets men, having diversified
the product portfolio.
In addition to that, the company targets retail chains in the
United States. Standalone beauty parlors and salons are also a
vital source of revenue (Munier, 2011).
The Customer component basically comprises both ladies and
gentlemen who consume beauty products and cosmetics, not
only in Philadelphia and the United States but across the world.
The company component consists of its prime location,
unmatched quality, and unparalleled customer service and above
all, competitive prices. Besides individual customers, the
company supplies to shops and retail chains. In terms of
collaboration, the Bachelorette works closely with brand
consultants, advertising agencies and suppliers to ensure a
smooth supply chain and company image, a recipe for higher
sales volumes (Best 2013). Regarding competitors, the
Bachelorette has heavily invested in research and development
to frequently innovate to develop new and improved products. A
sound marketing strategy will keep the company ahead of
competition.
4. In terms of STP, market segmentation is mainly based on gender
and age. The young tend to be trendy and fashionable while the
old are business-minded. Ladies tend to use more of the beauty
products compared to men. The company targets mostly ladies
of the middle age and between middle and high income classes.
Being located in Philadelphia, a prime location, the company is
better placed to reach the larger United States and beyond.
The marketing mix consists of the product, price, placement and
price. The product policy is growth oriented, which focuses on
expanding the product portfolio while consistently delivering
quality. In so doing, the company will grow its customer base in
the ever changing industry (Kotler & Keller, 2012). Consumers
desire value for their money. The company's prices are centered
on three facets: comparison to competitors; price mobility; and
price diversification. The price model is flexible enough to
accommodate the target customers and to not to eat into the
company’s profits. The placement of the company and its
regional focal offices achieve a balance between supply and
distribution of the products. Direct distribution is used through
sales agents in the various regions. Promotion is key. The
company utilizes digital advertising, especially social media
marketing with some celebrity endorsements. Engaging
customers in such ways ensures wider market reach.
Short-term and long-term goals
Profitability and growth is the desire of any profit-making,
competitive firm. In the short term, the Bachelorette wants to
see the brand become a household name across the world
through aggressive advertising with the help of a consultant
within 6 months. It is also desired that the company's
distribution system become more efficient so that customers
access products promptly. The company also pursues social
corporate responsibility through employee reward programs and
charity. Last but not least, is to get to know customer
perceptions about the products and the company at large to help
boost value co-creation and enhance the brand image.
In the long-term, the Bachelorette aims at gaining more market
5. share in the industry given the strategies in place to wade off
competition. The strategies include customer retention by
building rapport and responding to customer feedback promptly.
Measuring the goals will help check the progress of
achievement. Web statistics such as traffic and the conversion
rates will tell a lot about the success or failure of the
advertising strategies and market growth. Customer feedback
will also inform how famous the brand is known among
consumers. The company's profits are also an important measure
of company performance towards the goals.
SWOT Analysis
The Bachelorette is an international company dealing in beauty
and beauty-related products. The decision to spread wings
globally was informed by the desire to mitigate risks inherent in
the local market (Pearce & Robinson, 2013). Among others, one
of the biggest threats is counterfeiting. The table below
summarizes the SWOT analysis.
Strengths
1. Global presence minimizes risk
2. Diversified product portfolio for the larger target market
3. Excellent and knowledgeable staff in the beauty products
industry
4. Strong customer relationships
Weaknesses
1. Insufficient brand awareness
2. Third party suppliers might inconvenience customers
3. A relatively new player in the industry compared to major
competitors
4. High costs of rent and holding inventory
Opportunities
1. Expanding male grooming products demand
2. Expensive and low quality competitor products
3. Growth to other regions such as Australia and the Middle
East
4. Exploitation of more product promotion options
Threats
6. 1. Well established competitors
2. Economic downturns make people cut their cosmetics budgets
3. Threat of new entrants and products
4. Counterfeits that adversely affect the company's image and
sales
References
Best, R. J. (2013). Market-Based Management: Strategies for
Growing Customer Value and Profitability (6th Ed.). Upper
Saddle River, NJ: Pearson Education Inc.
Forbes.com (2017). Top 10 Beauty Brands. Retrieved July 29,
2017 from https://www.forbes.com/pictures/lmj45jdlf/no-2-
avon/#4b75b1032b88
Kaser, K. (2013). Advertising and Sales Promotion. Mason, OH:
South-Western, Cengage Learning
Kotler, P. & Keller K. L. (2012). Marketing Management (14th
Ed.). Upper Saddle River, NJ: Pearson Education, Inc.
Munier, N. (2011). A strategy for using multicriteria analysis in
decision-making: A guide for simple and complex
environmental projects. New York: Springer.
Pearce, J. A., & Robinson, R. B. (2013). Strategic management:
Planning for Domestic & Global Competition (13th Ed.). New
York, NY: McGraw-Hill
Pride, W. M. & Ferrell, O. C. (2016). Marketing (18th Ed.).
Boston, MA: Cengage Learning
Stevenson, W. J. (2015). Operations Management (12th Ed.).
New York, NY: McGraw-Hill Education
Willett, J. A. (2010). The American beauty industry
encyclopedia. Santa Barbara, Calif: Greenwood.
MILT 325 Black Board
Topic: Synthesize all of the course resources and describe your
7. best learning on how to help military families. Describe what
biblical principles are most pertinent to working with military
families.
Submit your thread by 11:59 p.m. (ET) on Thursday of
Module/Week 8, and submit your reply by 11:59 p.m. (ET) on
Friday of the same module/week.
PSYC 320 Discussion Board
“Four behavioral skills training (BST) procedures—modeling,
instructions, rehearsal, and feedback—generally are used
together in training sessions to help a person acquire useful
skills (such as social skills or job-related skills)” (Miltenberger,
2012, p. 217). Discuss the ways the Lord used behavioral skills
training procedures with the 12 disciples and how He uses it
today in our lives.
Post your thread by 11:59 p.m. (ET) on Thursday of
Module/Week 8 and your replies by 11:59 p.m. (ET) on Friday
of the same module/week.
Running head:BACHELORETTE L.L.C
1
BACHELORETTE L.L.C
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Branding the Bachelorette L.L.C
Any company irrespective of the industry it operates in needs to
devlope a branding strategy for the products to do well in the
8. market. Branding is a tool used by companies to convey their
products especially new ones to the consumers. Branding
encompasses a number of things which when put together make
the definition of a company and its products. It is an important
competing point (Baker, 2014). Bachelorette L.L.C like the
other competitors in the market needs a solid branding strategy
to gain dominance in the market. The Bachelorette needs to
clearly define its branding and ensure that it is receptive to the
target customer base as well as deliver quality products.
Brand Name
The Bachelorette L.L.C is a company with renowned global
quality delivery in its products and customer relations. The
company is a world leader, with global presence in the industry.
The unmatched quality of products and consistency in customer
service globally have made the Bachelorette a direct competitor
of well-known brands such as Olay, Avon and L'Oreal among
others (Forbes, 2017). It has been around for close to a century
now giving it the unpatrolled experience of market and
customer dynamics.
Logo and Slogan
Logo and slogans need to be unique and conspicuous, but above
all, they are supposed to caputure ones attention at first glance.
The Bachelorette is both the name and comprises the logo of the
company designed in an attractive and eye-catching way. The
company’s slogan, “deep beauty with health” has an appeal that
everyone can relate to. Unlike many of its competitors, the
slogan is diverse and appeals to large target audience.
Brand Extension
With the advantage of a global presence along with popular
public opinion, the Bachelorette has been able to bring onboard
other related beauty products (Punjaisri, 2017). The well known
name enables the company to have an easy entry especially in
market sectors that seem to be saturated. The company has
9. recently introduced male product line. It is now on the verge of
taking its body oil to the next level by mixing it with the
perfume line for the launching a scented body oil.
Marketing strategy
The Bachelorette uses a direct marketing strategy in order to
take our products directly to the customers. We want to have a
connections with our customers to ensure that we ae constantly
aware of our customer needs. Marketing is a very important
factor to the Bachelorette Company. There is an entire
department at the headquarters in Philadelphia as well as in all
the other regional stations that only work on the development of
the marketing strategies. Marketing is the companies main tool
of ensuring sales and relevance in the market.
The Internet and social media marketing
It is apparent that most people spend much of their time on the
internet more than any other place. The company has
specifically come up with online marketing platforms which can
be accessed from social media (Tuten, 2014). Many young
people and active consumers of beauty and products can be
easily targeted online. This section has thus been
comprehensively covered to ensure that the company does not
lose touch with this crucial segment. The adverts meant to
enlighten potential customers on the online platform are short
but very informative on the company products. Interested
followers are directed to the company’s website where they can
find comprehensive information on our products, purchase
products, and even connect with a product representative.
Advertisements on local media
The products of the Bachelorette Company have a global
coverage. This advertising was meant to allow for specific
regional demands to be captured. The advertisements of the
different places are tailored to accommodate the preferences and
10. demands of these regions. The advertisements are made with
unique preferences of the consumers in mind. This approach is
meant to deepen the regional presence. The advertisements
reach out to other customers that does not have an online
presence. It appeals to both females and males making them
want to try our products.
Justification for the strategy and implementation time
Bachelorette Company engages in direct sales and relationship
with the customers. This strategy ensures that the interests of
the customer are well integrated into the plans of the company.
Avoiding the use of middlemen will keep the company in touch
with its customers needs. Customers have the opportunity to
make enquiries and provide suggestion on a lot of all products
to help ensure that we are giving them what they want. The
direct approach is also a way avoiding the introduction of
unnecessary costs in the chain that may trigger price shift. Our
timeline of business will consist of six months. After we gained
customers engagement in our products through advertisments
and social media. we found that the gap between introduction of
a product and actual launch was not overwhelming. After the
implementation of one year, we conducted additional market
research. We charted the results on the perceptual map and it
showed an increase in the different parts of the business; and
the areas that are not going well,however, we know there is
always a room for improvement.
Perceptual Map and Positioning Statement
The beauty industry is dominated by four main players. In
ascertaining the positioning statement; the perceptual map is
made of a cross-like diagram. The axes are representing; brand
equity and gender (male vs. women). The analysis takes into
consideration the three major competitors Olay, Avon and
L'Oreal which all show close similarities in many aspects;
Avon: has a wide product portfolio with an older age segment.
Revlon, has a strong brand equity with a significantly broad age
11. range compared. L’Oreal, the cosmetic company with the
highest brand equity, targets women in the mid-20s to mid-30s
or even 40s. Their choice of cosmetics is that they are
invariably colorful, trendier and younger.
Consumer Behavior of the Target Market
The Bachelorette company started with the main focus on
women product but has it grew and redefined its operations; it
has adopted an open approach and incorporated men products as
well. Women’s products, however, make approximately three-
quarters of the production with men to a small percentage. The
specific age group of women who consume the products
aggressively is between the ages of 24 and 40. There are mainly
working women with reasonable access to the internet exposing
them adequately to the company’s products.
The main competing points in the industry captures the
interactive and competent use of positioning statement,
branding strategy and the company’s name and slogan. The
market’s very sensitive and reactive to the quality of the
products even more so than the price.
Mission and Introduction
Bachelorette L.L.C is a global cosmetic company whose goal is
to deliver quality and highly innovative products to its
customers. Nurturing the natural beauty of the skin is the
company’s driving force. The company believes that the skin is
endowed with sufficient beauty but only needs to be well
maintained. The products that are used in making the products
are of the highest quality. All products adhere to all quality and
safety standards outlined by the Food and Drugs Administration
(FDA). Internationally, the products meet all the required
regulations after obtaining the operating licenses.
Product Feasibility
Asia Personal Care & Cosmetics Market Guide (2016) describes
12. that Asian countries are one of the largest and potential markets
of U.S Cosmetics and Personal Care industries. Asian countries
provide more than 3 billion high potential consumers in the
global market. The consumers of products in Japan, South
Korea, and Australia contribute over $1billion on U.S
Cosmetics and personal care. However, from the preceding
research, we found that the Asian countries geographically and
consumers wise are more suitable and favorable for our business
(Trade.gov, 2016).
The article “Beauty: Only as Deep as the Customer Experience”
stated the customers experience in regards to the beauty
products feasibility. The cosmetics and beauty industry is
expanding globally, the competition in this industry has been
increased. It was said by U.S marketing executive, “the time
has passed when consumers were intrigued by brand alone."
From the quantitative research, it is clear that in China and U.S
the stores and departments related to beauty products are
increasing day by day (Armoudom & -Shabat, 2012).
The Beauty Industry’s Influence on Women in Society (2012),
is also a good research about the feasibility of beauty products
which demonstrate the increasing trend of this industry (Britton,
2012).
References
Armoudom, P., & -Shabat, H. B. (2012). Beauty: Only as Deep
as the Customer Experience.
atkearney:Global Business Policy Council , 1-8.
Baker, M. J. (2014). Marketing strategy and management.
Palgrave Macmillan.
Britton, A. M. (2012). The Beauty Industrys' Influence on
Women in Society. University of New
Hampshire , 1-41.
Forbes.com (2017). Top 10 Beauty Brands. Retrieved July 29,
2017 from https://www.forbes.com/pictures/lmj45jdlf/no-2-
13. avon/#4b75b1032b88
Punjaisri, K. &. (2017). The role of internal branding in the
delivery of employee brand promise. In Advances in Corporate
Branding, pp. 91-108.
http://www.trade.gov. (2016). Asia Personal Care & Cosmetics
Market Guide. U.S. Department
of Commerce , 1-234.
Tuten, T. L. (2014). Social media marketing. Sage.