MARKETING PLAN HIMALAYA’s SKIN CARE PRODUCTS
Table of Contents
1. Executive Summary.................................. Summary............................................................... ........................................................01 ...........................01 1.1.The Product................................................ Product............................................................................................. ............................................. 01 1.2.The Target arget Market............................................... Market...................................................................................01 ....................................01 1.3.Why the Target Target Market Needs This Product........................................... 01 2. Company Background........................ Background.................................................... ............................................ .............................. ................. ... 02 2.1.Brief Company istory........................................................................... istory........................................................................... 02 2.2.Mission !tatement............................................... !tatement...................................................................................03 ....................................03 . Situ Situat atio ion n !naly nalysi siss.............................................................................................0" 3.1.#n$ironmenta% &na%ysis........................................... &na%ysis............................................................... ............................... ...........0" 0" 3.1.1. !ocia% #n$ironment.......................................... #n$ironment.............................................................................0" ...................................0" 3.1.2. #conomic #n$ironment................ #n$ironment............................................. .......................................................0" ..........................0" 3.1.3. 'emographic #n$ironment................ #n$ironment............................................. ............................................. ....................0( ....0( 3.1.". Techno%ogica% Techno%ogica% #n$ironment................................................................ #n$ironment................................................................ 0( 3.1.(. Competiti$e #n$ironment................. #n$ironment.............................................. ............................................... .....................0( ...0( 3.2.!W)T &na%ysis................................... &na%ysis................................................................ ....................................................0* .......................0* 3.2.1. !trengths................................................. !trengths.............................................................................. .............................................0* ................0* 3.2.2. We Weaknesses.................... aknesses................................................. .................................................... ...................................... .................0* ..0* 3.2.3. )pportunities..................................... )pportunities.................................................................. ..................................................0+ .....................0+ 3.2.". Threats.................................................... Threats................................................................................. .............................................0+ ................0+ ". Segme Segmenta ntatio tion n Stra Strateg tegy y.....................................................................................0, ".1.-enera% Product Market Characteristics.................................................0, ".1.1. Product ife Cyc%e............................................... Cyc%e................................................................... ............................... ...........0, 0, ".1.2. Type Type of product/ con$enience con$enience shopping specia%ty specia%ty etc .....................10 ".2.Possi%e Market !egments......................................................................10 ".2.1. !egment 1.................................................... 1................................................................................. ........................................10 ...........10 ".2.1.1. -eographic......................................... -eographic.......................................................................... ................................. ........10 ........ 10 ".2.2. !egment 2.................................................... 2................................................................................. ........................................10 ...........10 ".2.2.1. Beha$iora%.............................................. Beha$iora%................................................................... ................................... ................10 ..10 ".2.3. !egment 2.................................................... 2................................................................................. ........................................10 ...........10 ".2.2.1 'emographics...........................................................................11
".3.&pproach to !egmentation........................................ !egmentation......................................................................12 ..............................12 ".3.1. &pproach and easoning for t........................................................ t........................................................ ...12
Table of Contents
1. Executive Summary.................................. Summary............................................................... ........................................................01 ...........................01 1.1.The Product................................................ Product............................................................................................. ............................................. 01 1.2.The Target arget Market............................................... Market...................................................................................01 ....................................01 1.3.Why the Target Target Market Needs This Product........................................... 01 2. Company Background........................ Background.................................................... ............................................ .............................. ................. ... 02 2.1.Brief Company istory........................................................................... istory........................................................................... 02 2.2.Mission !tatement............................................... !tatement...................................................................................03 ....................................03 . Situ Situat atio ion n !naly nalysi siss.............................................................................................0" 3.1.#n$ironmenta% &na%ysis........................................... &na%ysis............................................................... ............................... ...........0" 0" 3.1.1. !ocia% #n$ironment.......................................... #n$ironment.............................................................................0" ...................................0" 3.1.2. #conomic #n$ironment................ #n$ironment............................................. .......................................................0" ..........................0" 3.1.3. 'emographic #n$ironment................ #n$ironment............................................. ............................................. ....................0( ....0( 3.1.". Techno%ogica% Techno%ogica% #n$ironment................................................................ #n$ironment................................................................ 0( 3.1.(. Competiti$e #n$ironment................. #n$ironment.............................................. ............................................... .....................0( ...0( 3.2.!W)T &na%ysis................................... &na%ysis................................................................ ....................................................0* .......................0* 3.2.1. !trengths................................................. !trengths.............................................................................. .............................................0* ................0* 3.2.2. We Weaknesses.................... aknesses................................................. .................................................... ...................................... .................0* ..0* 3.2.3. )pportunities..................................... )pportunities.................................................................. ..................................................0+ .....................0+ 3.2.". Threats.................................................... Threats................................................................................. .............................................0+ ................0+ ". Segme Segmenta ntatio tion n Stra Strateg tegy y.....................................................................................0, ".1.-enera% Product Market Characteristics.................................................0, ".1.1. Product ife Cyc%e............................................... Cyc%e................................................................... ............................... ...........0, 0, ".1.2. Type Type of product/ con$enience con$enience shopping specia%ty specia%ty etc .....................10 ".2.Possi%e Market !egments......................................................................10 ".2.1. !egment 1.................................................... 1................................................................................. ........................................10 ...........10 ".2.1.1. -eographic......................................... -eographic.......................................................................... ................................. ........10 ........ 10 ".2.2. !egment 2.................................................... 2................................................................................. ........................................10 ...........10 ".2.2.1. Beha$iora%.............................................. Beha$iora%................................................................... ................................... ................10 ..10 ".2.3. !egment 2.................................................... 2................................................................................. ........................................10 ...........10 ".2.2.1 'emographics...........................................................................11
".3.&pproach to !egmentation........................................ !egmentation......................................................................12 ..............................12 ".3.1. &pproach and easoning for t........................................................ t........................................................ ...12
".3.2. !e%ection of Target Target Market4s5................................... Market4s5..............................................................1" ...........................1" ..................................................................................1( ...........................1( #. Strate Strategic gic $ocus $ocus and and %lan %lan....................................................... (.1.Core Competencies.................................................................................1( (.2.!ustaina%e Competiti$e &d$antage.......................................................1( (.3.-enera% Marketing !trategies..................................................................1* !trategies..................................................................1* &. 'ark 'arket et (ese (esear arc) c)..............................................................................................1+ *.1.esearch P%an................................................... P%an..........................................................................................1+ .......................................1+ *. 'arketing %rogram............................ %rogram......................................................... .............................................................. ................................. 1, +.1.Positioning....................................................... +.1.Positioning.......................... ......................................................... ........................................1, ............1, +.2.Product !trategy............................................... !trategy......................................................................................1, .......................................1, +.2.1. Brand Name..................................................... Name................................................................... ............................. .................617 ..617 +.2.2. 8eatures and Benefits................................................ Benefits......................................................................... ..........................17 .17 +.2.3. Points of 'ifferentiation................................ 'ifferentiation............................................................. ..................................617 .....617 +.2.". Product ife Cyc%e............................................... Cyc%e............................................................. ........................... .............620 620 +.3.Price !trategy..........................................................................................20 +.3.1. -enera% Pricing !trategy..................................................................... !trategy..................................................................... 20 +.3.2. Comparati$e Pricing................................................................ Pricing........................................................................... ...........21 21 +.3.3. Price eactions............................................ eactions......................................................................... ........................................22 ...........22 +.".'istriution !trategy............................................................................... !trategy............................................................................... 22 +.".1. )taining Materia%s.............................................. Materia%s........................................................................... ...............................23 ..23 +.".2. Wa Warehousing.............. rehousing........................................... .......................................................... .............................................23 ................23 +.".3. 'istriution to Customers...................... Customers................................................................... ............................................. 23 +.".". ntermediaries..................... ntermediaries.................................................. .......................................................... ....................................2" .......2" +.".(. Transportation........................... Transportation........................................................ ............................................. ............................. .............2" 2" +.".*. )rder Processing.............................................. Processing................................................................................. ................................... 2( +.(.Promotion !trategy................................................... !trategy................................................................................ ...............................2( ..2( +.(.1. Communication )9ecti$es........................................ )9ecti$es.................................................................2( .........................2( +.(.2. &d$ertising........................................ &d$ertising..................................................................... ..................................................2( .....................2( +.(.2.1. Creati$e !trategy.............................................. !trategy...................................................................... ...........................2( ...2( +.(.2.2. &ppea%s.............................................. &ppea%s........................................................................... .......................................... .............2* 2* +.(.2.3. Competiti$e #fforts..................................................................... #fforts..................................................................... 2* +.(.2.". Media :ehic%es........................................................................... hic%es............................................................................2+ .2+ +.(.2.(. Print &d................................... &d........................................................................ ................................................... ...............2+ .2+ +.(.3. Persona% !e%%ing............................................... !e%%ing............................................................................ ....................................2+ .......2+ +.(.". !a%es Promotion............................................... Promotion..................................................................... ................................... ............. 2+ +.(.(. Pu%ic e%ations.......................................... e%ations....................................................................... ........................................ ...........2, 2,
+.(.*. Pu%icity.............................................................................................. 2, +. Evaluation and Control.................................................................................... 2, ,.1.mp%ementation.......................................................................................2,
Supporting ,ocuments !ppendix ! - %erceptual 'ap !ppendix B - Sample !d......................................................................................2 !ppendix C - /antt C)art !ppendix , - 'arket (esearc) $orms...............................................................0
M&;#TN- P&N
HIMALAYA – COSMETICS – SKIN CARE
1. EECT3E S''!(45 1.1 T6E %(7,CT5
The product chosen for generating a marketing p%an is from the company <M&&=& 4era% ea%thcare5> c%assified under the skin care segment. The skin care is an area ?hich road%y co$ers products that are re%ated to?ards the teenagers such as skin nutrients soaps face packs face ?ashes %ip s%a$es and fairness creams. 1.2 T6E T!(/ET '!(8ET5
The ima%aya@s skin care production concentrates deep into the reAuirements of the teenagers ?here they maintain a uniAue standard of producing the products using hera% ingredients that does not affect the skin of the user. 1. 964 T6E T!(/ET '!(8ET :EE,S T6E %(7,CT5
The target market as stated efore are the teenagers ?ho epect the product to e more of hera%s rather than chemica%s that spoi%s their skin. ima%aya thus produces products that are more to?ards persona% skin care that protect the consumers from inside air conditioning and centra% heating dehydrating skin )utside a chemica% cocktai% ?ith e$ery reathe. Thus the products produced are ?e%% satisfied ?ith the consumers@ epectations therey pro$iding them ?ith a hea%thy nourishing skin.
2. C7'%!:4 B!C8/(7:,
2.1 B(E$ C7'%!:4 6ST7(4 !B7T T6E C7'%!:4/
The ima%aya 'rug Company ?as founded in 1730 y Mr. Mana% ?ith a c%ear $ision to ring &yur$eda to society in a contemporary form and to unra$e% the mystery ehind (000 years o%d system of medicine. The company has focused on de$e%oping safe natura% and inno$ati$e remedies that ?i%% he%p peop%e %ead richer hea%thier %i$es. Today ima%aya products ha$e een endorsed y o$er 2 (0000 doctors around the g%oe and consumer in (7 countries re%y on ima%aya for their hea%th and persona% care needs. 6ST7(45
1730 D Mr. M Mana% formed the ima%aya 'rug company. 173" D aunch of !erpinathe ?or%d@s first hypertensi$e drug. 17((D i$ (2 a hepatoprotecti$e drug is %aunched and goes on to ecome one of the ?or%d@s top se%%ing drug. 17+(D &n ad$anced manufacturing faci%ity is set up in Banga%ore. 177* D The company opens its E! office at ouston Teas. 177,DThe anima% %i$estock is %aunched.
hea%th
product
range
for
2001 F The company adopts a ne? unified rand eAuity. 200( F ima%aya ce%erates +( years.
2.2 'SS7: ST!TE'E:T5
commercia%
#sta%ish ima%aya as a scienceDasedpro%emDso%$ingheadDtoD hee% randharnessed from nature@s ?ea%th and characteriGed y
trust and hea%thy %i$es. 'e$e%op markets ?or%d?ide ?ith an inDdepth and %ongDterm
approachmaintaining at each step the highest ethica% standards. #nsure that each ima%aya emp%oyee strong%y acks the ima%aya promise to eceed the epectations of the consumer each time and e$ery time. Nothing %ess is accepta%e.
.ST!T7:!; !:!;4SS5
.1 E:3(7:'E:T!; !:!;4SS .1.1 S7C!; < C;T(!; E:3(7:'E:T5
Cu%tura% factors might inc%ude the ?ay peop%e percei$e the 'rugs shou%d e for their fami%y. The upper midd%e c%ass popu%ation i.e. ima%aya ea%thcare target segment is ho?e$er re%ati$e%y sensiti$e to cu%tura% factors as the peop%e often ha$e different demand of the 'rugs they purchase. o?e$er if ima%aya ea%thcare is %ooking to target other income popu%ation as ?e%% then this factor ?ou%d gain a higher prominence. .1.2 EC7:7'C E:3(7:'E:T5
n addition the uncertain echange rate and a sudden increase in do%%ar $a%ue against ndian rupee ha$e contriuted to the s%o?do?n. ncreasing do%%ar $a%ue has raised the %anded cost of imported machine too%s and e$en ra? materia%s reAuired for production y aout 1"H. To make the matter ?orse it is e%ie$ed that pharma manufacturers across the country are %ooking for reDimposition of custom duty on pharma. ncreased cost of ra? materia%s direct%y affects the cost of the 'rugs ro%%ed out e$entua%%y tagging a particu%ar 'rugs mode% ?ith a higher price tag hence ima%aya has to %ook to?ards tack%ing the cost to ser$e the customers.
.1. ,E'7/(!%6C E:3(7:'E:T5
This as a macro en$ironmenta% factor has a $ery positi$e impact on ima%aya ea%thcare drugs as the upper midd%e c%ass peop%e e%ie$e in purchasing the Aua%ity product that can suit their c%ass. The target segment for ima%aya ea%thcare as identified ear%ier is primari%y the upper midd%e or higher c%ass. This segment of the popu%ation has a high disposa%e income and prefers high $a%ue in the product.
.1." TEC6:7;7/C!; E:3(7:'E:T5
The techno%ogica% factors ?i%% p%ay a $ery $ita% ro%e in the future gro?th of ima%aya ea%thcare. The engineers from ima%aya ea%thcare ?orked at c%ose Auarters ?ith their foreign counterparts in the de$e%opment of the 6imalaya 6ealt)care drugs= much %ike that for other competitors.
.1.# C7'%ETT3E E:3(7:'E:T5
Ma9or competitors of ima%aya ea%th care inc%udes 'aur Ca$in;are Paras pharmaceutica%setc. The manufacturing costs processing costs are high and a%so there is huge competition from synthetic rands. !o ima%ayas ha$e to o$ercome a%% these issues in making their products etter than the competitors.
.2 S97T !:!;4SS .2.1 ST(E:/T6S5
Wide
range of productsD Pharmaceutica% Persona% care
&nima% care. !trong rand image g%oa% presence. !trong distriution channe%s nternationa% consignment de%i$ery ?ithin ", hours. 'Degu%atory certifications E!8'& Iua%ity assurance through -MP-P -CP. 8irst company to produce 100H hera% ay products.
.2.2 9E!8:ESS5
Basic
image of ima%aya as an hera% hea%th care company. imited no of otanica% supp%ier and inappropriate methods of co%%ection and storage %eading to su optima% %e$e%s of acti$e constituents. Iua%ity constraint.
.2. 7%%7(T:TES5
uge
demand of hera% and &yur$eda products in
nternationa% market. Entapped rura% market. Net to T Biotechno%ogy research in medicina% p%ants shou%d emerges as the most sustaina%e gro?th sector in the years to come. Targeting diaetic patients. .2." T6(E!TS5
Ma9or competitorsD'aurCa$inkareJyothy
%aoratoriesParas Pharmaceutica%sKandu. Manufacturing costs processing costs are high. Competition from synthetic rands.
". SE/'E:T!T7: ST(!TE/4 ".1 /E:E(!; %(7,CT '!(8ET ST(!TE/45
".1.1 ;$EC4C;E 7$ T6E %(7,CT5
The product %ife cyc%e goes through mu%tip%e phases in$o%$es many professiona% discip%ines and reAuires many ski%%s too%s and processes. Product %ife cyc%e 4PC5 has to do ?ith the %ife of a product in the market ?ith respect to usinessLcommercia% costs and sa%es measures. To say that a product has a %ife cyc%e is to assert three things/
Products ha$e a %imited %ife
Product sa%es pass through distinct stages each posing different cha%%enges opportunities and pro%ems to the se%%er
Products reAuire different marketing financing manufacturing purchasing and human resource strategies in each %ife cyc%e stage.
The four main stages of a products %ife cyc%e and the accompanying characteristics are/
Stage
C)aracteristics
1. costs are $ery high 2. s%o? sa%es $o%umes to start 1. 'arket introduction stage
3. %itt%e or no competition ". demand has to e created (. customers ha$e to e prompted to try the product *. makes no money at this stage 1. costs reduced due to economies of sca%e 2. sa%es $o%ume increases significant%y 3. profitai%ity egins to rise
2. /ro>t) stage
". pu%ic a?areness increases (. competition egins to increase ?ith a fe? ne? p%ayers in esta%ishing market *. increased competition %eads to price decreases 1. costs are %o?ered as a resu%t of production $o%umes increasing and eperience cur$e effects 2. sa%es $o%ume peaks and market saturation is reached 3. increase in competitors entering the market
3. 'aturity stage
". prices tend to drop due to the pro%iferation of competing products (. rand differentiation and feature di$ersification is emphasiGed to maintain or increase market share *. ndustria% profits go do?n
1. costs ecome counterDoptima% 2. sa%es $o%ume dec%ine or stai%iGe ". Saturation and decline stage
3. prices profitai%ity diminish ". profit ecomes more a cha%%enge of productionLdistriution efficiency than increased sa%es
".1.2
T4%ES 7$ T6E %(7,CT5
The Consumer products are c%assified into " types as mentioned ao$e. The product of ima%aya@s can e c%assified into Con$enience and !hopping products ?here the demand for the product is high and there is a mass ad$ertising made for those products. There are many out%ets present for the purchase of the products.
".2 %7SSB;E '!(8ET SE/'E:TS 1. /E7/(!%6C5
!rea5 Metropo%itan cities and to?ns The company has targeted metropo%itan cities and to?n ecause of popu%ation and consumer kno?%edge aout the product is considera%e and to?ns are upcoming usiness p%aces. &s the products from the company are pure%y made of hera% the end users must e ?e%% educated in order to kno? aout the ad$antage of using a hera% skin care product. 2. BE6!37(!;5 7ccasions5 those ?ho go to schoo%s co%%eges offices ser Status5 egu%ar usage for etter resu%ts
!ttitude to>ards t)e product5 a necessary part of e$eryday skin care treatment.
Benefits5 the products in the ima%aya skincare has used its ?ea%th of kno?%edge and research in natura% hera% remedies to formu%ate a range of persona% care products that cater to your dai%y needs. The products are from natura% hera% ingredients that can e used dai%y and causes no side effects. & gent%e %end of hera% etracts that restores skin $ita%ity reDhydrates the skin and keeps the user to fee% fresh a%% the day %ong. . ,E'7/(!%6CS /
!ge5 1*D2* The target customers are teenagers and those ?ho gi$e importance to their skin and ?ho are ?e%% a?are of the hera% products and its importance. Education5 !tudents or -raduates &s mentioned ear%ier the product entire%y dea%s ?ith the ingredients of hera% and natura% materia%s and therey the endDusers must e educated to kno? aout the importance of the products and its use. Sex5 Enise The product ?as %aunched for usage of oth ma%e and fema%e to protect their skin from the po%%uted en$ironment. 7ccupation5 !tudents and office goers The company has targeted these peop%e ecause the o9ecti$e is to target the students and young office goers as they ?i%% e more concentrated to?ards their eauty and skin care. ;ifecycle5 sing%e and married ma%e and fema%e &ny one of the ao$e mentioned target audience are those ?ho ?i%% care for their skin and those ?ho don@t mind spending for their persona% skin care products that ?i%% gi$e them a fee% of esteem Social Class5 Midd%e and Epper c%ass peop%e Peop%e ha$ing enough money to afford for the product are the upper and midd%e c%ass as the cost of etracting and manufacturing products of hera% ingredients is high compared to other chemica% skin care products.
".2 !%%(7!C6 T7 SE/'E:T!T7:5 ".2.1 !%%(7!C6 !:, (E!S7::/ $7( T5 :aria%es can e determined y management perception of usiness opportunities ecause of the that managers ha$e of their usiness ?or%d. n its simp%est form this sometimes %eads to segmentation mode%s that are ased on a sing%e criterion such as ?hich product a customer purchases or the region of the country ?here a customer or prospect resides. &%ternati$e%y comp%e mu%ti$ariate mode%s can e de$e%oped ?ith this approach ?here pro9ect managers se%ect measures ased on an a priori $ie? of the factors percei$ed as most re%e$ant in differentiating customers and prospects. 'etermining the $aria%es to use in a segmentation mode% can a%so e done on the asis of statistica% criteria. Many different statistica% techniAues as ?e%% as outcome measures may e used to determine the $aria%es that are u%timate%y used in the segmentation ana%ysis. The steps in$o%$ed in Customer !egmentation &pproach are/ STE% 1 ? ,efine core @definingA vs. non?core @fine?tuningA parameters5
Iuestion is on ?hat are the top %ine parameters ?hich ?i%% make a difference to your strategy. The fo%%o?ing cou%d e among your defining segmentation parameters/
•
ncome group 4%o?er income groups ?i%% e higher potentia% customers5 Esage patterns 4a higher usage is epected as that ?i%% gi$e you good re$enue on %o?er margins5
•
isk profi%e 4you cannot ha$e a high risk ?ith %o? margins5
•
STE% 2? Customer Segmentation at single core parameter level
)ne can first identify the customer segments at a sing%e parameter %e$e%. This means that one shou%d make mu%tip%e sets of customer segments/ •
•
•
)ne set of segments for their risk profi%e. 4high risk medium risk %o? risk..5 )ne set of segments for product affinity. 4Market asket ana%ysis..5 )ne set of segment for #istingLpotentia% $a%ueLprofitai%ity. 4igh $a%ue medium $a%ue %o? $a%ue..5
STE% ? Customer segmentation across multiple core parameters5
=ou can no? make net %e$e% groupings on comination of mu%tip%e parameters. This ?i%% generate c%usters of customer segments. & customer in this case ?i%% e%ong to a sing%e c%uster for a gi$en comination parameters. STE% "? 3alidate t)e Segment clusters= and c)urning out t)e invalid 7( sparse combinations of core parameters
=ou can take out the cominations ?hich are either in$a%id comination ) are sparse cominations 4?ith $ery fe? customer e%onging to it5 STE% #? validate your actions= to go t)roug) t)e re?iterations
)nce you get the detai%s on ho? many customers are %ying in a gi$en cominations of parameters you ?i%% do the fo%%o?ing/ •
•
Check if the numers of customers in each c%uster are a%igned to your strategy &ssumptions Check the possi%e actions on these segment are a%igned to your !W)T/ et@s say that you ha$e a c%uster of customer ?hich ?i%% demand a ma9or change in the ?ay your product is to e designed. f you fee% that you that product design is your ?eakness you may %ike to nu%%ify this c%uster and redefine your segmentation strategy.
STE% & ? (epeat Step 1 to Step #
"..2 SE;ECT7: 7$ T!(/ET '!(8ET@SA5
Target marketing tai%ors a marketing mi for one or more segments identified y market segmentation. Target marketing contrasts ?ith mass marketing ?hich offers a sing%e product to the entire market. T?o important factors to consider ?hen se%ecting a target market segment are the attracti$eness of the segment and the fit et?een the segment and the firms o9ecti$es resources and capai%ities. The fo%%o?ing are some eamp%es of aspects that shou%d e considered ?hen e$a%uating the attracti$eness of a market segment/ •
•
!iGe of the segment 4numer of customers andLor numer of units5 -ro?th rate of the segment
•
Competition in the segment
•
Brand %oya%ty of eisting customers in the segment
•
&ttaina%e market share gi$en promotiona% udget and competitors ependitures
•
eAuired market share to reak e$en
•
!a%es potentia% for the firm in the segment
•
#pected profit margins in the segment
T!(/ET '!(8ET ST(!TE/ES5
There are se$era% different targetDmarket strategies that may e fo%%o?ed. Targeting strategies usua%%y can e categoriGed as one of the fo%%o?ing/ •
Single?segment
• • • •
Selective specialiation %roduct specialiation 'arket specialiation $ull market coverage
#. ST(!TE/C $7CS !:, %;!: #.1 C7(E C7'%ETE:CES5
Core competencies are those capai%ities that are critica% to a usiness achie$ing competiti$e ad$antage. The starting point for ana%yGing core competencies is recogniGing that competition et?een usinesses is as much a race for competence mastery as it is for market position and market po?er. Thus esta%ishing core competencies for a usiness product in$o%$es three main strategies as fo%%o?s/ 1. %rovides potential access to a >ide variety of markets 2. 'akes a significant contribution to t)e perceived customer benefits of t)e end product 3. ,ifficult for competitors to imitate #.2 SST!:!B;E C7'%ETT3E !,3!:T!/E5
The sustaina%e competiti$e ad$antage for M&&=&@! re%ies on its 6E(B!; 3!;ES. 'arketing strategy is a process that can a%%o? an organiGation to concentrate its %imited resources on the greatest opportunities to increase sa%es and achie$e a sustaina%e competiti$e ad$antage.
&ccording to The Nie%sen Co figures for &pri%DJune 2010 ima%aya face ?ashes had a 1+., H market share in ndia %ess than t?o percentage points ehind mu%tinationa%s industan Eni%e$er td and )rea%.
ima%ayas indi$idua% products a%so face competition from firms that are
strong in one or 9ust a fe? products such as Co%gate in toothpaste and 8air o$e%y in face masks. 'octors ha$e een ima%ayas iggest rand amassadors in
pharmaceutica%s By uying ra? materia%s direct%y from gro?ers co%%ectors and
nongo$ernmenta% organiGations ima%aya keeps costs under contro%. ecent%y it signed an agreement ?ith the !ikkim go$ernment to prepare
farmers in organic farming of hers and sustaina%e co%%ection. n pharmacy ima%aya is stronger. t has $ery sharp%yD positioned products for the eyes %i$er ones and so on.
#./E:E(!; '!(8ET:/ ST(!TE/ES5
-enera% marketing strategies are road and are aimed at $arious specific usiness o9ecti$es. !ome of these goa%s cou%d e targeted on
T# M&;#T !&# )N-DT#M P)8T&BT= M&;#T -)WT P)!T)NN- and )T# -)&!. Thus M&&=& is aiming to attain its genera% marketing strategies y designing $arious decision area marketing strategies. The core o9ecti$e is thus attained y performing sma%% marketing goa%s under each segment.
&.'!(8ET (ESE!(C6 &.1
(ESE!(C6 %;!:5
&ccording to &merican Marketing &ssociation 4&M&5 Marketing research is the function that %inks the consumer customer and pu%ic to the marketer through information D information used to identify and define marketing opportunities and pro%emsO generate refine and e$a%uate marketing actionsO monitor marketing performanceO and impro$e understanding of marketing as a process. Marketing research specifies the information reAuired to address these issues designs the methods for co%%ecting information manages and imp%ements the data co%%ection process ana%yGes and communicates the findings and their imp%ications. STE%S : '!(8ET:/ (ESE!(C6 %;!:5
!T#P1/ 'efinition of the pro%em. !T#P2/ !tatement of research o9ecti$es. !T#P3/ ist of needed information@s. !T#P"/ 'esign of data co%%ection Pro9ect. !T#P(/ !e%ecting the samp%ing scheme and samp%e siGe. !T#P*/ )rganiGing fie%d ?ork. !T#P+/ &na%ysing the data. !T#P,/ 8indings and conc%usions. The esearch instrument used in this research p%an is on%ine Auestionnaire ?hich ?as a too% in otaining the data reAuired for the research process. The resu%ts are ana%ysed through the respondent@s feedack for the Auestionnaire. The
Auestionnaire and the responses are the key e%ements in determining the customer@s epectation and satisfaction.
*. '!(8ET:/ %(7/(!'5 *.1 %7ST7::/5
The rand the company ana%yGed is targeted at the modern ndian consumer ?ho is ?i%%ing to pay a premium for good medicine and for those ?ho e%ie$e in ayur$eda ut are not inc%ined to go traditiona% ayur$eda c%inics. This is a good eamp%e of effecti$e concept de$e%opment. The company adopted a ne? %ogo to contemporiGe the rand image. The %ae%%ing and the print is o%d ?hich makes it easy for customers to read them e$en ?hen p%aced in disp%ays at pharmacies. The current ima%aya %ogo is a $isua% definition of the rand. The %eaf that forms the crossar of the %etter e$okes the companys focus on hera% hea%thcare. The tea% green represents proimity to nature ?hi%e the orange is e$ocati$e of ?armth $irancy and commitment to caring associating the ima%aya rand ?ith the promise of good hea%th and ?e%%Deing. The positioning is ?ide across the areas as mentioned e%o?/ 15 %)armaceutical D hea%th maintenance eye cardiac and skin care. 25 %ersonal Care D ea%th Care )ra% Care air Care !kin Care and Bay Care. 35 :aturals ? Pure ers Cha$anprash and oney. "5 !nimal 6ealt) F i$estock Pou%try &Aua and companion *.2 %(7,CT ST(!TE/45
Their product strategy ranges from Bay care/ Bay cream ay ?ash ay shampoo ay gift series etc. air care/ &ntiDdandruff shampooLoi%Lhair cream protein shampoo etc.
!kin care/ Bay %otion face packs %ip a%m skin nourishes etc. )ra% care/ 'enta% cream ea%th care/ Chya$anaprasha foot care cream honey ka9a% etc. *.2.1 Brand name5
& rand name is an identity for a company@s product. t must fo%%o? the reAuirements %ike/ & good rand name shou%d/ #$oke positi$e associations Be easy to pronounce and rememer !uggest product enefits Be distincti$e Ese numera%s ?hen emphasiGing techno%ogica% features Not infringe eisting registered rand names Thus ima%aya skincare has esta%ished a good rand name for its products. The ?ord <M&&=&> has een used to signify the inc%usion of natura% hers in a%% products they produce in turn it assures the product Aua%ity4i.e it has no side effects5. *.2.2 $E!T(E !:, BE:E$TS5
ima%aya skincare products ha$e ?ide range of products ?ith distinct features. Thus each product is uniAue in its app%ication and enefits. The enefits that ahs een deri$ed from these products are con$erted as customer eperience. The customer eperiences are shared in ?ay of testimonia%s in the company ?esite. Thus these testimonia%s adds more good?i%% and reputation to the company@s products. *.2. %7:TS 7$ ,$$E(E:T!T7:5
The point of differentiation refers to the P)'ECT '88##NT&T)N. &s far as ima%aya skincare products is concerned they out?its the other products in the market through their uniAue se%%ing proposition cost %eadership rand %oya%ty etc.
*.2." %(7,CT ;$E C4C;E5
*. %(CE ST(!TE/45 *..1 /E:E(!; %(C:/ ST(!TE/45 %remium %ricing5 Ese a high price ?here there is uniAueness aout the product or ser$ice. This approach is used ?here a a sustantia% competiti$e ad$antage eists. Thus ima%ayas !kin Care uses premium pricing for products %ike <M&&=& D&NT &)!! C#&M>
Economy %ricing5 This is a no fri%%s %o? price. The cost of marketing and manufacture are kept at a minimum. The products are <M&&=&D N)E!N- C#&M &N' )N#= !)&P CECEMB# !)&P .
*..2 C7'%!(!T3E %(C:/5
6imalaya products
sie
!mount
1. 8airness cream
2(g
.30
2. Protein shampoo
100g
s.((
3. &ntiDhair fa%% shampoo
100g
s.*3
". 'eep c%eansing mi%k
100m%
s.*(
(. Purifying Neem face ?ash
100g
s.+0
*. ntensi$e moisturiGing ody %otion
"00m%
s."(0
+. Protecti$e sunscreen %otion
100m%
s.31(
1. -arnier fructis shampoo
200m%
s.77
2. -arnier %ight anti mark cream
100g
s.12(
3. Ponds go%d radiance cream
100g
s.2*(
". orea% #%$i$e serum
200m%
s."+0
(. )%ay fairness cream
(0g
s.77
7t)er products
Thus y comparing the products and prices of M&&=& rand ?ith $arious other rands ima%aya has got ?ide $ariety of products ?ith r easona%e prices. The siGes of the products are a%so a$ai%a%e in different ranges.
*...1
%(CE (E!CT7:S5
ima%aya has recent%y reduced the price of its products and has introduced $arious offers for the consumers. Thus consumers in market fee% that the ima%aya offers products at considera%e prices.
The products are good in their Aua%ity.
The prices are compared ?ith the ayur$edic significance of the product.
The etter resu%ts of the product gi$e a high product performance. Therefore the consumers are ready to afford for the eisting prices.
*." ,ST(BT7: ST!(TE/4
T)us t)e g.lobal presence of 6'!;!4! Company )as been s)o>n in t)e above mentioned map.ima%aya is %ocated a%% o$er the ?or%d co$ering the fo%%o?ing countries %ike/ B#-EM C&N&'& M&&=!& M&ETE! P&;!T&N N#P& I&T& E!!& !&E' &&B& N'& !)ET &8C& ! &N;& TE;#= E!& E&# etc.
*.".1 7BT!::/ (!9 '!TE(!;S5
ima%aya has had an eperimenta% her farm in the foothi%%s of the ima%ayas
since the ear%y 1730s to gro? rare hers. !cientists on the farm constant%y ?ork to impro$e yie%d of rare p%ants. ima%ayas ' di$ision conducts studies in Pharmacognosy 4the science dea%ing
?ith the sources physica% characteristics uses and doses of drugs5 to esta%ish the authenticity of p%ant materia%. ima%aya has a%so set up an agrotech di$ision in !outh ndia ?here it is in the process of gro?ing geographica%%y compati%e endangered hers.
*.".2 9!(E67S:/5 The products are most%y distriuted to the $arious %ocations through different modes of transport. Moreo$er these are further distriuted to the potentia% consumers through $arious store disp%ay. Thus need for ?arehousing for ima%aya is $ery %ess ?hen compared to other skin care companies. *.". ,ST(BT7: T7 CST7'E(S5
The distriution is done through $arious store disp%ays. The stores are %ocated in different areas in ndia as fo%%o?s ST7(E ;7C!T7:S : :,!5
&ndhra Pradesh Chandigarh -oa -u9arat imacha% Pradesh ;era%a ;arnataka Maharashtra
MiGoram Pondicherry Pun9a a9asthan Tami% Nadu Ettar Pradesh Ettarakhand West Benga
*."." :TE('E,!(ES5
The intermediaries for ima%aya products are/
Producers Who%esa%ers !a%es representati$es etai%ers Consumers
*.".# T(!:S%7(T!T7:5
The impro$ed transportation faci%ities ha$e made the f%o? of products easier. Thus the products can e circu%ates to the ao$e mentioned +1 countries y ?ay of $arious modes of transports. The transportation is made in such a ?ay that the retai% out%et ?ho ser$es as a ma9or distriutor gets the products on time. The a$ai%ai%ity of ima%aya products is thus made easier. *.".& 7(,E( %(7CESS:/5
The orders are processed y ?ay of fo%%o?ing modes/
The #%ectronic purchase orders recei$ed y the company are
processed in such a ?ay so that the product is dispatched to consumers direct%y. The #%ectronic purchase orders from distriutors are a%so processed and the products are de%i$ered. The 'e%i$ery orders confirmation has to e recei$ed from
consumers and distriutors. The in$oices and receipts proofs are generated for records in the future.
*.#
%(7'7T7: ST(!TE/45
*.#.1 C7'':C!T7: 7BECT3ES5 The marketing communication o9ecti$es are determined y pro%em that the target or product category may encounter and ho? to o$ercome these pro%ems. The $arious pro%ems are c%eared out y a$ai%ing the market opportunities.
!ome common marketing communication o9ecti$es inc%ude/ 1. Create a rand a?areness for your company 2. 'efining a need the product or ser$ice can fu%fi%% 3. #ncouraging action from the target
*.#.2 !,3E(TS:/5
&d$ertising is a form of communication used to persuade an audience 4$ie?ers readers or %isteners5 to take some action ?ith respect to products ideas or ser$ices. *.#.2.1 Creative strategy5
n ad$ertising different creati$e strategies are used in order to otain consumer attention and pro$oke shoppers to purchase or use a specific product. &d$ertisers use different ?ays of thinking to create catchy s%ogans that capture consumer attention. Creati$e strategies promote pu%icity pu%ic re%ations persona% se%%ing and sa%es promotion.
ima%aya ad$ertises its products y creati$e strategy that focuses on
The genera% inc%ination of the peop%e today is to?ards using natura% hera%Dased products e$ery shampoo or toothpaste has an ayur$edic tag on it. n such a scenario ima%aya chose to car$e a niche for itse%f among the many p%ayers competing in the sphere. ima%aya skincare %ogo is a $isua% definition of our rand identity. The %eaf that forms the crossar of the %etter e$okes our focus on hera% hea%thcare. The tea% green of our %ogotype represents our proimity to • nature ?hi%e the orange is e$ocati$e of ?armth $irancy and our commitment to caring. #$erything that carries the %ogo is accompanied y the • high Aua%ity that has a%?ays een the ima%aya ha%%mark. The ima%aya rand carries ?ith it the promise of good • hea%th and ?e%%Deing. t is our endea$or to ensure that our %ogo ecomes the symo% of a promise de%i$ered. •
*.#.2. Competitive Efforts5
The competiti$e efforts of ima%aya skincare has een ad$ertised through introduction of ?ide range of products in the market. The products that are introduced y ima%aya skincare ?ere more inno$ati$e and it made other competitors to fo%%o? their strategies. ima%aya skincare products such as
ima%aya uses the fo%%o?ing media $ehic%es to ad$ertise its products. They are as fo%%o?s/
Te%e$ision MagaGines Ne?spapers nternet etc.
*.#.2.# %rint ads5
The print ads of ima%aya skincare most%y high%ight its hera% presence in the products. Thus they green %ogo ?ith %ea$es signifies the purity and natura% ingredients in the product. These aspects are printed in ne?spapers magaGinesetc. *.#. %ersonal selling5 Persona% se%%ing is one of the o%dest forms of promotion. t in$o%$es the use of a sales force to support a pus) strategy 4encouraging intermediaries to uy the product5 or a pull strategy 4?here the ro%e of the sa%es force may e %imited to supporting retai%ers and pro$iding afterDsa%es ser$ice5.
%rospecting D trying to find ne? customers Communicating D ?ith eisting and potentia% customers aout the product range
Selling D contact ?ith the customer ans?ering Auestions and trying to c%ose the sa%e
Servicing D pro$iding support and ser$ice to the customer in the period up to de%i$ery and a%so postDsa%e
nformation gat)ering D otaining information aout the market to feedack into the marketing p%anning process
!llocating D in times of product shortage the sa%es force may ha$e the po?er to decide ho? a$ai%a%e stocks are a%%ocated. *.#." Sales promotion5
ima%aya skincare fo%%o?s the fo%%o?ing sa%es promotion acti$ities/ 1. 2.
-i$ing free samp%esLtria% packs ntroducing discounts and offers
3.
Buy one get one free
".
8ree after sa%es ser$ice
(.
8ree de%i$ery etc.
*.#.# %ublic relations5
ima%aya skincare maintains pu%ic re%ations y responding to customer Aueries through mai%s and other modes. They take initiati$e in ep%aining their products through $arious modes of communication. 8or further detai%s customers can ?rite to their ?esites eDmai% phones etc. *.#.& %ublicity5
The pu%icity is done through sharing customers eperience and eisting customers@ feedacks in their ad$ertisements. Moreo$er ima%aya skincare products ha$e a $ery good rand name ?hich further he%ps in increasing its pu%icity.
+. E3!;!T7: !:, C7:T(7;5 )nce ?e ha$e done ?ith !ituation ana%ysis Marketing strategy and Marketing mi the fina% step in a marketing p%an is to e$a%uate the process and ensure contro% measures ?here$er necessary. +.1 '%;E'E:T!T7:5
&t this point in the process the marketing p%an has een de$e%oped and the product has een %aunched. -i$en that fe? en$ironments are static the resu%ts of the marketing effort shou%d e monitored c%ose%y. &s the market changes the marketing mi can e ad9usted to accommodate the changes. )ften sma%% changes in consumer ?ants can e addressed y changing the ad$ertising message. &s the changes ecome more significant a product redesign or an entire%y ne? product may e needed. &ccording%y the company has to design for the change. The marketing process does not end ?ith imp%ementation D continua% monitoring and adaptation is needed to fu%fi%% customer needs consistent%y o$er the %ongDterm. When they continuous%y update themse%$es ?ith the customer eha$ior to?ards their product and the competitors mo$es they
can tack%e the market y reading the entire market phenomena efficient%y.
!%%E:,
S!'%;E !,5
ima%aya@s %atest ad$ertisement campaign ?hich ?ent on air for the first time in &ugust pre$ious year ?as creating a uGG amongst the youth. The ne? ad for 6imalaya %urifying :eem $ace >as) rings to the fore the idea of ‘Himalaya sabse pehle’ or ‘Himalaya First’. The messages are simp%e and c%earD T= M&&=& 8!T &N' !P&# 47(SE;$ T6E !/7:4 7$ /7:/ T6(7/6 SE3E(!; (E'E,ES T6!T ,7:DT 97(8 The T: commercia% has an etreme%y young %ook and fee%D aimed at capturing the interest of the youth. The music is distinct%y continenta% and the mode%@s %ook is $ery retro chicQ The ad is instant%y endearing as it te%%s the story of the eperiences of a gir%DnetDdoor.
!%%E:, 3 '!(8ET:/ (ESE!(C6 $7('5 FEST7::!(E '!(8ET:/ (ESE!(C6 7: 6'!;!4!GS S8: C!(E %(7,CTS
'ear respondents We are the students of !!N. &s a part of our marketing p%an ?e ?ou%d %ike to perform a research on ima%ayas skin care products. =our response to our sur$ey $a%ues a %ot. ?e assure that your response ?i%% e taken confidentia%.Thank you for your time and support for our pro9ect. egards !a$ithri N !ruthi !aranya N
Tami% !e%$i ; C 1. &ge group that you e%ong to/ R •
S20
•
20D2(
•
2(D3(
•
3( 2. Monthy ncome range / R
•
S20000
•
20000D30000
•
30000D"(000
•
"(000 3. 'o you prefer using skin care productsU R
•
=es
•
No
". o? freAuent%y do you use the productU •
'ai%y
•
Week%y
•
Month%y
•
'uring occasions
(. Which rand do you use no?U R
*. Which features high%ight your need for that productU •
8airness
•
!kin protectionL scruers
•
MoisturiGing c%eansing
•
&ntiD aging creams +. o? freAuent%y do you s?itch o$er your productU
•
)nce in a month
•
)nce in * months
•
Ne? arri$a%s ,. ad you tried ima%aya@s skin care productsU R f yes ho? you got to kno? aout the productU R
•
&d$ertisements
•
8riends
•
Beauticians
•
'ermato%ogists
7. Which feature est suits for the ima%aya@s productsU R •
&ffordai%ity
•
&$ai%ai%ity
•
era% ingredients
•
nno$ati$e products
•
)thers
