However brand value plays a key role in growing in

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However, brand value plays a key role in growing in this market, especially since the products directly influence the health of the consumer. Also, the technology used for many products are patented by the major cosmetics and coming up witha new technology is engine for new entrants. Nature s a well- established brand in its vicinity and produce Fproducts that are specific to skin types. Hence the at of new ring skin companies entrants is relatively low. Threats of substitutes: Skin care produce a large number of substitutes and they
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 3are usually replaced due to the chemicals used in the manufacturing these products. The world today is moving on to organic and nature based products and hence NatureCare is at an advantage, since all the products of NatureCare are eco- friendly and made with natural ingredients. Also, replacing a product thathas a high brand value is difficult even for low price substitutes. Determinants of Buyer Power: NatureCare products are priced high and caters tocustomers who are less price-sensitive and prioritize quality of the product However, the customers who are used to such products do not easily shiftto low quality products. As long as the quality of skin care products at NatureCareare maintained the bargaining power of buyers is significantly low. The only threat is in the case of a new product from a well branded company at a lower price is introduced in the market, which is highly unlikely given that NatureCare has different products for different skin types.Determinants of Supplier Power: Since NatureCare manufactures its own products and the raw materials used for production are eco friendly and natural, the influence of a supplier is less. Economic ForcesThere are several skin care companies that are introducing products that are pocket friendly. The inflation in the cost of raw materials is a great influence on the price determination ofskin care products. However, the quality of the product cannot be undermined due to economic influence, as skin care products directly influence the health and personal image of the consumer. NatureCare believes in high quality products and hence sources only

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