Marketing Plan for
Daily Naturals
7003MKT_ Marketing Foundations
Teacher: Sara Quach
Student full name: Nguyen Thi Duong Thom
Student ID: 2963606
Submitted: 12/12/2018
Table of Contents
TOC \o "1-3" \h \z \u HYPERLINK \l "_Toc536730395" 1.0 Executive Summary PAGEREF _Toc536730395 \h 4
2.0 Target Market & Positioning PAGEREF _Toc536730396 \h 5
2.1 Selection of Target Market PAGEREF _Toc536730397 \h 5
2.2 Position Strategy PAGEREF _Toc536730398 \h 6
Positioning Strategy PAGEREF _Toc536730399 \h 6
3.0 Marketing Mix Strategies PAGEREF _Toc536730400 \h 7
Product/Service PAGEREF _Toc536730401 \h 7
Defining the product attributes PAGEREF _Toc536730402 \h 8
Price PAGEREF _Toc536730403 \h 9
Promotion PAGEREF _Toc536730404 \h 10
Place PAGEREF _Toc536730405 \h 11
Example of distribution model PAGEREF _Toc536730406 \h 12
4.0 Evaluation and Control PAGEREF _Toc536730407 \h 13
EVALUATION OF GOAL/OBJECTIVE PAGEREF _Toc536730408 \h 13
5.0 Implementation and Schedule PAGEREF _Toc536730409 \h 14
6.0 Recommendations and Conclusion PAGEREF _Toc536730410 \h 14
7.0 Reference List PAGEREF _Toc536730411 \h 15
1.0 Executive Summary
The Daily Naturals is an Australian hair care company. The motive of the company is to provide a quality product at affordable rates to the customers. The marketing plan of The Daily Naturals focuses on progressing and developing the brand name to the upper level. The marketing plan of the company would explain the target market, different strategies, and values of the company, sales, market analysis, and marketing segmentation strategy of the company (Baker, 2014). The primary objectives of the marketing include the premium quality research and manufacturing. To establish innovative marketing strategies for the product of the company. The objective of the marketing plan is to develop the distribution network of wholesale by the end of the going year.
The numerous external and internal elements that surround the products of the company on a daily basis and impact the operations and different strategies of the company are called a marketplace environment (Baker, 2016). The marketing plan also focuses on the buying behaviour of the customer in the marketplace. The opportunities for progress and check on threats and competitions with other companies are discussed in the marketing plan.
The marketing plan also has a targeted market. It shows how the company is facilitating the customers. What benefits are offered to the customers by their product? In the target market, the company understand the needs and requirements of the customers and their buying behaviour (Pike $ Page, 2014). The four Ps which are Price, Promotion, Product and Place are the primary elements of the marketing mix that are used in the marketing plan of The Daily Naturals.
The timeline is a necessary element in every marketing plan. In the timeline of the marketing plan of the company, the strategic planning, the marketing mix analysis, positioning strategy of the product, and marketing goals of the company are set in the timeline of the marketing plan (Proctor, 2014). The evaluation in the marketing plan helps the company to track the goals set by the company. Customer loyalty, satisfaction, brand awareness and brand reputation are the elements that needed to be evaluated. The marketing plan is developed to benefit the company. It can benefit the company by increasing sales of the different products of the company and by generating profits or revenues (Huang & Sarigollu, 2014).
2.0 Target Market & Positioning
2.1 Selection of Target Market
The company chooses the mass marketing strategy for this market plans as in the mass market strategy. This market technique is known for generating a large number of customers very successfully. In mass marketing, the company ignores the market segmentation and goes for the solo strategy. The Daily Naturals targets the huge loop of individuals. The company would deal with the needs of customers rather than dealing with their wishes or demands. By mass marketing, the huge number of customers would attract to the company which definitely bring fame to the brand name and recognition. Whereas in a differentiated marketing strategy, the targeted audience or market is limited which do not gather or attract a much larger crowd (Mayer et al., 2014).
The company targeted the audience from a wide range of demographics. Every customer can sue the products of The Daily Nature regardless of his or her social status, age, gender and social class. The company makes sure that everyone must facilitate his/herself with its product regardless of their religious beliefs. The Daily Naturals takes the lifestyles, buying behaviour of the customers, their beliefs, and adapting the behaviour of the new product very seriously. The Daily Naturals target those consumers who are interested in buying a quality product rather than buying a cheaper or mediocre quality product. All of the products of The Daily Naturals are made from healthy constituents. So, the products are a treat for consumers who have many concerns about their hair health. In selecting the target market company also looks for the consumption or usage rate of the products from a diverse range of customers (Burn et al., 2014). The marketing strategies of the company specifically target the individuals who make a buying decision for their homes, for example, a mother or a father or any person who is running his or her household. The products of the company are available wide range (Foxall, 2014). Apart from exhibiting or selling the products in shops or stores the company also operates online to remove the physical boundaries. The company targets the customers from nearly all market regions in Australia. The products of the company are usable in every climate in every region.
2.2 Position Strategy
Positioning Strategy
The positioning strategy is always important for the company to place its products in the market. The positioning strategy of the company differentiates the products of the company from the other similar products available in the market. In its marketing plan, the company identifies the unique characteristics and features of its products. The positioning strategy of the company also debates the criteria and values that consumers make in their buying behaviour. The company's slogan "What made you go Natural" attracts the customers to buy the products of the company. The company makes the customer aware of the attributes and benefits of the company. For example, the hair products of the company are made up of organic material and are free of chemicals and other risky material (Hanssens et al., 2014). This attracts the customer as in the modern world; individuals are becoming more and more conscious regarding their health. The hair care products strengthen the hairs. Moreover, there are also certain products which have more than one usage like shampoo and conditioner. This provides benefit to the company as well as to the customers. The customers would go for these products with multiple benefits rather than buying the product separately. The organic material provides a lot of benefit to the health of hair. These are some of the features that are not very common in the market. The competitors do not offer such facilities, or the quality of the products is very low. The products of the company as a whole target the users of all age but specifically the young adults, adults and those individuals who like to use organic products. The company is determined to create such a product that left a wonderful and gentle feeling and fragrance on the hair. The company target the market audience who desires to have shiny hair and youthful hairs keeping enticing fragrant which delivers glorious shine on the hairs.
3.0 Marketing Mix Strategies
Product/Service
The Daily Natural Company is dealing with hair care products. The company is determined to gain the name of the best hair care product provider in the market place (Mayer et al., 2014). The ingredients used in the products of the company are free of any toxic chemicals. The products are tending to provide the shine to the hairs, and the products are processed in a way that provides strength and beauty to the hairs. There are various sizes of the product which are available in the market. This provides an extra advantage to the customers who are price sensitive. In the market place, the company offer shampoos of the following categories
Protect and Repair Shampoo
Daily Moisture Shampoo
Moisture Boost Shampoo
The 2-in-1 products of the company have the following categories
Sheer volume conditioner and shampoo
Smooth volume conditioner and shampoo
Everlasting Ends Split ends repair shampoo and conditioner
The Daily Naturals product "curl enhancer" is a vegan styling cream for curls, lightweight for Great Curl. The product offers a vegan cure with no parabens and sulphates. It removes frizzle in curly hairs and curbs unruly flyaway, parting the hair suave and shiny with a usual feel and hold. This product is 100 per cent vegan. The product has replaced the revolting ingredients with organic ingredients which benefits the consumer as well as the environment (Solomon et al., 2014).
The Innovative New Product
Defining the product attributes
Current Product Attributes
New Product Attributes
Resulting Consumer Benefit
Vegan
With no Sulphates
No chemicals
100 per cent Vegan
Provides extra care to the hair ends
Seals the end of the hairs
Prevent hair loss
Treats the damaged hair
Prevent hair loss
The customer got healthy and shiny hairs
Reduction in Hair Loss
Fragrance and Freshness in hairs
Long lasting positive effects
Price
The Daily Naturals is the famous organic brand in the Australian market. The company has targeted the individuals who are much concerned about the health of their hairs. The company is determined to offer the high care rule to the market at reasonable prices especially for price-sensitive customers. The company has also faced some sort of competition from various rival brands. The company has set a competitive pricing strategy for its product. The price is set neither too high that it reaches out of the range of the consumers or nor to low that it doubts the quality of the product. The firm provides the best pricing for the identical price range as it has been able to lure in fresh and new consumers. There is the number of discount offers and promotional code by the company on various occasions and events (Talpau, 2014). There are also some offers in which buying one product gives you a free product of the company on special accounts or events. Other than the competitive pricing the company has also adapted the value pricing policy at interrupted interims. This policy is adapted to make adjustments with the purchasing power and the fundamental local circumstances of a precise place. This results in increased in sales and enhanced sales volume that would eventually outcomes in huge profits and greater revenue.
Promotion
The Daily Naturals is a company with high brand recall. The company has implemented a bellicose marketing strategy that includes taking advantage of most advertising gears at its disposal (Kunag-Jung, 2015).
Copy:
The company has adopted a remarkable marketing strategy for advertisements. There are various advertising campaigns in which different renowned models and actors are featured. The company is linked to the beautiful hairs and created the advertisements with famous stars, actors and models. The advertisements mostly targeted the women audience.
Media:
The advertisements are made via digital and print media platforms. The newspapers, television media, radio, and magazines are the primary source of electronic and print media advertisement. The billboards are not much used by the company, but they are used occasionally. Posters are pamphlets are most important and cheapest resources in advertising.
In the following table, the percentage usage of each medium is fixed for a one-year promotional plan. As in the modern world, everyone is online and use different social media accounts, so maximum percentage promotion is given to the website of the company and social media usage.
Media
March
April
May
June
July
Aug
Sep
Oct
Nov
Radio
B105
Nova
10 %
20%
17%
20%
TV
Channel 10
30 %
25 %
25 %
Outdoors
Transit
Billboards
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Social media
50 %
50 %
30 %
30 %
50 %
40 %
35 %
50 %
40 %
Online website
50 %
50 %
30 %
25 %
50 %
43 %
40 %
50 %
40 %
The company has also adapted the marketing strategies on social media platforms (Fine, 2017). The company advertise its products on its own website as well as on other websites. The company provides the significant info at consistent intervals. The company also operates its accounts on different social media platforms like Facebook, Twitter etc. where there is sufficient information about differ promotional offers are provided periodically. The interviews with hairstylists and hair experts regarding the product are offered shared on their social media pages or accounts (Ahmed & Rahman, 2015).
Place
The Daily Naturals currently has a dominant place in the market of Australia. The company has spread the network of its product throughout Australia. The Daily Naturals have adapted traditional channel of retailers, stockists and wholesalers. The products of the company are taken out from the production unit and delivered to the forwarding and transporting agents. These agents forward the products to the local stockists. These stockists send these products to the wholesalers and retailers. The outlets and stores are the last points of the products of The Daily Natural. From these outlets and stores, consumers are able to buy the products easily (Babin et al., 2015).
It is vital that the dispersal channel is reckless and sturdy or else if the products of the company do not reach the wholesale market at periodic intervals there might be a chance that the consumers might move their product loyalty to other products (Watson et al., 2015). Products from The Daily Naturals Company are effortlessly obtainable in almost every merchandising outlet like the superstore, hypermarkets, shopping centre, grocery outlets, medicine stores and concession outlets (Cao et al., 2015). The Daily Natural also trades online via numerous e-portals and errands sites. The products are easily available in almost entire Australia. The wholesalers and retailers act as middlemen. They deliver the products of the company to the customers. The middlemen promote the products of the company to the consumer on behalf of the company. In this way, they bring profit and revenues to the company by increasing its productions rates and sales (Tanner & J, 2015).
Example of distribution model
4.0 Evaluation and Control
The marketing plan of the company set out many goals which are mentioned earlier. In order to investigate the implementation of a marketing plan certain metrics must be evaluated. The company has adapted different tools or methods for measuring the metrics. Surveys are conducted in the market place, and interviews were taken from clients to measure brand loyalty amongst customers. Moreover, online questionnaires were also prepared to know about what customers think of the quality of the products. These two metrics have a direct effect on the sales and revenues of the company. If the customer remained loyal to the products of the company and is satisfied with the quality of the product, they would definitely buy the product of the company.
EVALUATION OF GOAL/OBJECTIVE
Metric
Method of Measure
Timing
Responsibility
Brand Loyalty
Survey
Open
Marketing Executives
Quality of the product
Online Questionnaire
Open
Marketing Executives
5.0 Implementation and Schedule
The schedule of the implementation is given in the Gantt chart.
6.0 Recommendations and Conclusion
The marketing plan of The Daily Naturals provides sturdy strategies that a company can gain a respectable place in the market. It can be concluded that the company has worked much on its marketing strategies via online websites and social media which benefits the company a lot. There is a competitive setting of the price of the products. The use of organic ingredients is one of the topmost benefits of the company as it attracted a lot of customers. There are some recommendations that can help the company in gaining sales and revenues. There is a lot of work on promotions that can be done to increase the sales. For example, the promotion of billboards and sponsorship programs can be increased, by increasing this, more and more customers would get aware about the brand or products of the company. The company can also increase its sales and revenues by introducing varieties of its products. For example, by introducing the hair sprays or any other hair care product.
7.0 Reference List
Ahmed, S., & Rahman, M. (2015). The effects of the marketing mix on consumer satisfaction: A literature review from an Islamic perspective.
Armstrong, G., Adam, S., Denize, S., & Kotler, P. (2014). Principles of marketing. Pearson Australia.
Babin, B. J., & Zikmund, W. G. (2015). Exploring marketing research. Cengage Learning.
Baker, M. J. (2014). Marketing strategy and management. Macmillan International Higher Education.
Baker, M. J. (2016). What is marketing?. In The Marketing Book (pp. 25-42). Routledge.
Burns, A. C., Bush, R. F., & Sinha, N. (2014). Marketing research (Vol. 7). Harlow: Pearson.
Cao, Q., Geng, X., & Zhang, J. (2015). Strategic role of retailer bundling in a distribution channel. Journal of Retailing, 91(1), 50-67.
Fine, S. H. (2017). Introduction to social marketing. In Marketing the Public Sector (pp. 1-12). Routledge.
Foxall, G. (2014). Strategic Marketing Management (RLE Marketing). Routledge.
Hanssens, D. M., Pauwels, K. H., Srinivasan, S., Vanhuele, M., & Yildirim, G. (2014). Consumer attitude metrics for guiding marketing mix decisions. Marketing Science, 33(4), 534-550.
Hanssens, D. M., Pauwels, K. H., Srinivasan, S., Vanhuele, M., & Yildirim, G. (2014). Consumer attitude metrics for guiding marketing mix decisions. Marketing Science, 33(4), 534-550.
Huang, R., & Sarigöllü, E. (2014). How brand awareness relates to market outcome, brand equity, and the marketing mix. In Fashion Branding and Consumer Behaviors (pp. 113-132). Springer, New York, NY.
Khan, M. T. (2014). The concept of'marketing mix and its elements (a conceptual review paper). International journal of information, business and management, 6(2), 95.
Kuang-Jung, C., Mei-Liang, C., Chu-Mei, L., & Chien-Jung, H. (2015). INTEGRATED MARKETING COMMUNICATION, COLLABORATIVE MARKETING, AND GLOBAL BRAND BUILDING IN TAIWAN. International Journal of Organizational Innovation, 7(4).
Malik, A., & Sudhakar, B. D. (2014). Brand positioning through celebrity endorsement-A review contribution to brand literature. International Review of Management and Marketing, 4(4), 259-275.
Mayer, T., Melitz, M. J., & Ottaviano, G. I. (2014). Market size, competition, and the product mix of exporters. American Economic Review, 104(2), 495-536.
Pike, S., & Page, S. J. (2014). Destination Marketing Organizations and destination marketing: A narrative analysis of the literature. Tourism Management, 41, 202-227.
Posner, H., Williams, S., & Posner, H. (2015). Marketing fashion: strategy, branding and promotion. Laurence King Publishing.
Proctor, T. (2014). Strategic marketing: an introduction. Routledge.
Solomon, M. R., Dahl, D. W., White, K., Zaichkowsky, J. L., & Polegato, R. (2014). Consumer behaviour: Buying, having and being (Vol. 10). London: Pearson.
Stead, M., & Hastings, G. (2018). Advertising in the social marketing mix: getting the balance right. In Social Marketing(pp. 29-43). Psychology Press.
Talpau, A. (2014). The marketing mix in the online environment. Bulletin of the Transilvania University of Brasov. Economic Sciences. Series V, 7(2), 53.
Tanner, J., & Raymond, M. (2015). Principles of marketing. University of Minnesota Libraries Publishing.
Tanner, J., & Raymond, M. (2015). Principles of marketing. University of Minnesota Libraries Publishing.
Tsimonis, G., & Dimitriadis, S. (2014). Brand strategies in social media. Marketing Intelligence & Planning, 32(3), 328-344.
Varadarajan, R. (2015). Strategic marketing, marketing strategy and market strategy. AMS review, 5(3-4), 78-90.
Watson, G. F., Beck, J. T., Henderson, C. M., & Palmatier, R. W. (2015). The building, measuring, and profiting from customer loyalty. Journal of the Academy of Marketing Science, 43(6), 790-825.
