BSBMKG609 Marketing Plan A3 Sergio Minoletti.docx - This document is Marketing Plan Template It is part of the supporting resources for Assessment Task

BSBMKG609 Marketing Plan A3 Sergio Minoletti.docx - This...

This preview shows page 1 - 2 out of 6 pages.

This document is Marketing Plan Template. It is part of the supporting resources for Assessment Task 3 of BSBMKG609.NatureCare Products Marketing PlanIntroduction The following report is the marketing plan developed for NatureCare to increase thenumber of people who make a purchase while visiting the online store by 20%, increasethe number of retail outlets selling NatureCare Products by 150, to increase productawareness amongst the target market by 20%, to increase market share to 15%, toexpand into at least one international market, to identify new products and new markets,and to attain annual growth of at least 10% over the next three years.Background NatureCare is an Australian manufacturer of skin care that produces high qualityproducts that caters to premium customers. A detailed understanding of the market isdeveloped using the analysis of Porter's Five Forces Framework, which is a tool to analysethe competence of a company. It is based on the economy of the industrial organization toderive five forces that determine the competitive intensity and, therefore, theattractiveness of an industry in terms of profitability, and studying the economic,regulatory and socio-cultural forces affecting the market. The target market is identified,and SWOT analysis is used to extract knowledge about the various aspects of NatureCare.Based on the results and objectives proposed by the company marketing, marketingopportunities were identified, and strategies were designed to achieve. The marketingplan section provides a list of tasks and the timeline for doing the same, and also assignsbudgets to each of the tasks.Regarding market trends, the following have all contributed to the growth in popularity ofnatural-based personal care products:health warningsenvironmental concernsethical concernstherapy awareness organic attitudesTo develop a marketing strategy, it is important to understand the current market inwhich the company competes. NatureCare products produce high quality skin careproducts and, therefore, belong to the cosmetic industry that is highly competitive.Understanding the various factors that influence this industry would provide a clearpicture of how to approach the target market.There are several skin care companies that are introducing products that fit the pockets,low price but at the same time lower quality than that offered by NatureCare. The cost ofraw materials is a great influence in determining the price of skin care products. However,the quality of the product cannot be affected due to the economic influence, since theproducts for skin care directly influence the health and personal image of the consumer.NatureCare believes in high quality products and, therefore, gets only the best materialsthat lead to high-priced products. In addition, to create new products by a newcompetitor, good financial support would be required.

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture