Untitled document - Date Qualification Course ID BSB61015 ADVANCED DIPLOMA OF LEADERSHIP AND MANAGEMENT Student Name Elena Luginina Student ID

Untitled document - Date Qualification Course ID BSB61015...

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Date: 07/10/2019Qualification / Course ID: BSB61015 : ADVANCED DIPLOMA OF LEADERSHIP AND MANAGEMENTStudent Name: Elena LugininaStudent ID: AIBL180084TRAINER:Sadaf TamizkarUnit ID and Name:BSBMKG609 DEVELOP A MARKETING PLAN Assessment Task: Task 3Introduction NatureCare is an Australian based skin care manufacturer that produces high quality products that caters to premium customers. The below report is the marketing plan developed for NatureCare to penetrate into foreign markets and increase the customer base in Australia. A detailed understanding of the market is developed using Five Factor analysis and studying the economic, regulatory and sociocultural forces that impact the market. The target market is identified and SWOT analysis is used to draw knowledge on the various aspects of NatureCare. Based on the results and the marketing objectives proposed by the company, marketing opportunities have been identified and strategies to achieve the same are designed. The marketing plan section provides a list of tasks and the timeline to perform the same, also allocating budgets to each of the task Environmental Analysis In order to develop a marketing strategy it is important to understand the market in which the company competes. NatureCare Products produces high quality skin care products and hence would belong to the cosmetic industry which is highly competitive. Understanding the various factors that influence this industry would provide a clear picture of how to approach the target market. Marketing Environment Competitive Forces Cosmetic and health care industry are one of the most With the advancement in competitive markets. technology, researching for new products and combinations has become much easier and hence skin care products are being developed at a much quicker pace. The below is the five force analysis of the industry.Rivalry among existing firms: The skin care industry has several established brands that take up major market share. In case of NatureCare Jurilique and Botani are the significant competitors. Threats of new entrants: Skin care industry is an extremely profitable market when the right product is introduced and the right time. This makes the industry alucrative market for any business that is planning to diversify its products.

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