Executive Summary
Christian Dior perfume has produced a new product referred to as Jasmine. Jasmine will be marketed within and outside the country. Therefore, various forms of marketing involving marketing mix will be used to ensure that the information reaches the customers effectively to attain maximum sales. Since this product is not the only one produced by the company, there is a chance of higher sales depending on the loyalty and reliability of the company. Moreover, the demand for the product will be guaranteed due to the request for a short-lasting Dior perfume.
Project Purpose
Marketing is an essential tool for upcoming products even in developed companies with loyal customers. Although the loyalty of customers ensures trust and preferences for products made from a trusted company, it is vital to spread information so that people are aware of the presence of a product. Essentially, marketing fulfills vital roles in business profit-making because it informs and attracts customers towards buying a commodity (Cravens and Piercy, 2006). The process of marketing starts mostly when the products have been produced and distributed to the shops. The need of the product is identified during the inception and therefore the company can select, determine, and inform the target customers.
The marketing plan involves four stages which are product, promotion, place, and price (Bradley, 2003). First, the product is discovered together with its demands in the market. Secondly, the strategy is initiated to attract buyers through promotions and discounts (Wright, 2006). When considerable numbers of customers are attained, the value and cost-effectiveness of the products are stabilized. Finally, the efficacy and success of the process are measured where the prices are adjusted according to their targets and demand (Ali, 2009).
However, the advances that have been made in information technology have a huge impact on the marketing process. For instance, social media is a cheap and efficient marketing strategy that reaches people throughout the globe (Alzate, 2009). This implies that the prices of the products will be less due to low marketing costs. Moreover, the products are seen by people worldwide without time limitations. In the other marketing strategies, a person observes the product for some time before the product is no longer visible. For instance, advertisement through mass media and billboards has restriction based on time or location. Social media provides adequate information and does not limit the time and location of access.
Needs/Wants/Demand
Jasmine is classified under the wants category because its consumption is not a basic product. It is used to retain a pleasant smell and remove woeful smells that displease an individual. Primarily, the sweat produced by the human body and other things producing unpleasant smells requires the use of perfumes such as Jasmine. Therefore, this product is demanded by the customer and therefore provides profits when marketed well.
Market Opportunities
Microenvironment Analysis
The use of long-lasting and strong scent perfumes does not appeal to all women especially due to the changes in activities and chores. For instance, some offices might not work properly with some scents that inconvenience some individuals. In this light, lightweight perfumes have been requested by customers.
Macro-environment Analysis
On a broader base, the use of short-lasting perfumes is applicable. Some occasions might dismiss the use of strong scent perfumes due to the inconveniences they cause to other people. Therefore, a presentable lightweight perfume will serve well during such occasions. Furthermore, the product will create segregation of the other perfumes produced by Dior Company.
SWOT Analysis
The strength of this product is evident in the fact that Dior has loyal customers who trust its products. The demand for lightweight perfume has been requested implying that there is a ready market for the product. This is an opportunity available in the market. However, other products have been introduced to the market to serve similar purposes. This will be a threat to the introduction of Jasmine and its market penetration. Finally, the product has a weakness because it causes dizziness during the first use.
Consumer Behavior Analysis
Consumers of perfumes buy them after ample consideration and decision making. This dilemma is attributed to the negative effects that arise after choosing the wrong perfume. Some perfumes cause irritations and headaches to the consumers. Furthermore, they waste the customer’s money and leave him/her dissatisfied with the products bought. Therefore, a strict review of the ingredient of the perfumes requires close and accurate attention before purchasing.
Business Environment Analysis
Market Segmentation and MASDA
Jasmine segmentation will be based on price and quantities. The capacities of the bottles will vary where the small quantities will be distributed to the local place. The larger quantities will be distributed to the main shopping centers and towns where there are many people and low chances of failure in selling the product. The product will be measured in milliliters and packed with different prices (Hanover, 2012).
The product will be distributed to most places to ensure that the customers will be able to access it. In fact, since Dior Company markets and distributes its products internationally, there will be efficient and broad distribution to serve all places. The product will be packed in a bottle-shaped differently to make it differentiable. Moreover, the perfume will be mixed with skin oils to create a variety of uses in the market. Finally, jasmine will be actionable through mass media and social media for marketing.
Market Targeting
The main target market will be women in the production country. However, this does not mean the men and children will not use the product. Women are the best target because they often use the perfumes and like to test the arising product. The products might have a scattered target in other nations because social media is quite unpredictable.
Customer Decision Process
The loyal customers will buy the product because it has been made from a trusted company (Haugtvedt, Herr & Kardes, 2008). Therefore, the products which were sold to customers from Christian Dior Company will play a part in the sales of the new product. Furthermore, the brand name will boost the number of customers encountering the product through the internet and when selecting during shopping. However, new customers will select according to the contents, side effects, and prices of Jasmine. Therefore, it will be vital to study the prices and contents of the products in the market to make sure that most customers select Jasmine perfume.
Marketing Mix Strategies
Product
Jasmine perfume is a product made for women that retain an appealing scent. The scent does not last for long but provides a pure sense through a light weighted scent. The product will be produced and marketed by Christian Dior Company internationally.
Pricing Strategy and Payment Policy
The price of the product will depend on the production, distribution, and marketing cost (Weinstein, 2004). Once these costs have been calculated, the price of the products will be identified depending on their quantities and location. For instance, the product to be sold near the production plant will be lower than those distributed to other areas. This implies that the distance will also determine the prices of the product.
Furthermore, the exported products will have higher prices due to taxes and shipping costs. These prices will reduce if the sales rise successfully and a cost-effective system is attained. Finally, the changes in marketing strategies will require changes in the mode of payment. Local buyers will purchase the product through cash payment. However, other payment methods will be incorporated such as credit cards which will allow the international buyer to purchase successfully.
Promotional Tools and Strategies
Promotions will be initiated in various strategies (Hines, 2004). First, there will be a discount on the price of Jasmine perfume that will act as a promotion method. Otherwise, the perfume will be sold together with a gift product from Dior. In this way, the customers will buy the perfume, and another product such as hair oil will be provided in a small quantity. This form of promotion advertises the gift product so that a customer buys a large quantity for use in case she likes the product. Finally, the promotion will involve the quantities of products to be sold. For instance, if a customer buys 400ml of the perfume, s/he is added 50ml of the same perfume.
Online Tool and Technologies
Social media and websites are effective in serving customers internationally (Solomon, Polegato, and Zaichkowsky, 2005). For instance, Facebook will be used to create platforms that advertise Jasmine perfume. This social media will be linked to the company’s website so the people visiting the platform can access the website easily. Moreover, there will be ads to advertise the product on other beauty websites. The website will contain comprehensive information about the product production and uses. The packing bottle will also have the link directing to the websites in order to access the information efficiently and market other products through the internet.
Delivery Channels
The distribution of Christian Dior perfumes has been established within and outside the country. Therefore, the distribution and delivery of Jasmine perfume will not pose challenges because it will use similar channels.
Customer Relationship Management
Customer satisfaction determines the relationship between the producer and the consumer (Kotler & Armstrong, 2012; Alzate, 2009). If the customer is assured of quality in regard to the products delivered, then the company has an assurance of good relationships. However, the management of the relationship when there are problems in the quality of the product might be hard. The loyalty of the customer depends on the reliability of the producer.
Marketing Plan Document
Jasmine perfume will be marketed in three ways involving the use of mass media, social media, and billboards. The billboard will only be used within the production country and city. On the other hand, mass media will advertise this product for a period of one month to ensure that the information penetrates within the country effectively. Finally, social media will keep updating the advertisement of the product as long as the product is on the market.
Conclusion
The marketing of products plays a vital role in the sales made from most products. Ali (2009) argued that the products that are not advertised seem inferior. Therefore, all products should be advertised to increase the profit to the maximum.
References
Ali, S. (2009). Models in consumer buying behavior. New Delhi: Regal Publications.
Alzate, G. (2009). The relationship between rewards and recognition, service-oriented organizational citizenship behavior, and customer satisfaction. Waterloo, Ont.: University of Waterloo.
Bradley, F. (2003). Strategic marketing: in the customer driven organization. Chicester, West Sussex, England: J. Wiley.
Cravens, D., & Piercy, N. (2006). Strategic marketing (8th ed.). Boston, Mass.: McGraw-Hill.
Hanover, J. (2012). Dior perfume. New York: Assouline.
Haugtvedt, C., Herr, P., & Kardes, F. (2008). Handbook of consumer psychology. New York: Lawrence Erlbaum Associates.
Hines, T. (2004). Supply chain strategies customer driven and customer focused. Oxford: Butterworth-Heinemann.
Kotler, P., & Armstrong, G. (2012). Principles of marketing (14th ed.). Boston: Pearson Prentice Hall.
Solomon, M., Polegato, R., & Zaichkowsky, J. L. (2005). Consumer behaviour: buying, having, and being (3rd Canadian ed.). Toronto: Pearson Prentice Hall.
Weinstein, A. (2004). Handbook of market segmentation: strategic targeting for business and technology firms (3rd ed.). New York: Haworth Press.
Wright, R. (2006). Consumer behaviour. Australia: Thomson Learning.