Describe Marketing Concepts Analyze the Future of the Firm - 825 Words

Describe Marketing Concepts: Analyze the Future of the Firm (Case Study Sample) Content: MarketingNameInstitution AffiliationAbstract Nivea is one of the most recognized skin and beauty care brands around the globe. It was introduced in 1911 and now extends to 14 product ranges across the globe, from facial moisturizers, deodorant shower products. In 1989, Nivea launched Nivea for men on an international basis and later on broke new ground with the after shave balm product. It is very popular with consumers since it does not contain alcohol that irritates the skin. Nivea for men developed a fuller range of male skin care products in 1993, which reflects a growing social acceptance of products with the male population. This brand can exploit its knowledge of beauty and skincare products in the market. According to research, men prefer skincare products that protect the face after shaving. Men are willing to purchase products calm irritated skin caused by shaving. Nivea brand was launched in 1998 in the United Kingdom. At this time, the total annual sales o f male skincare products were only  £ 68,000,000 with facial products recording sales of  £ 7,300,000. Nivea for men skincare products sales have had a tremendous growth since its launch and the market in 2008 was worth over  £ 117,000,000 with the male facial products having a share of  £ 49,000,000. This case study examines the re-launch of Nivea for Men products in 2008 and its plan to develop the Nivea for Range products in the UK. Nivea for men developed a marketing plan for its re-launch and organized its activities to achieve its objectives. This study puts emphasis on how an organization can respond to customer expectations, external forces and business aims to achieve those objectives.Marketing Plan A business sets its overall direction for the company via a business plan. The plan outlines how a company is to achieve its goals. A business plan is shaped by aim and objectives of a business. Since marketing involves the process of identifying, anticipating, and fulf illing customer needs, a good marketing plan ensures the stated aims and objectives are in place, and a series of activities with regards to marketing are put in place to ensure objectives are fully met. A good marketing plan can cover any period, but normally outlines activities for the next one to five years to come at either business or brand level (Baker, 2008).Marketing ConceptsSWOT analysis Nivea for Men uses a SWOT analysis to assess the market and takes in depths look at the strengths and weaknesses of the business, as well as opportunities and external threats that the business facts.Nivea for Men internal strength include:It is the leading company in the UK in male facial skincare products which gives it strong brand recognition.It has a strong and sound financial base that ensures availability of resources in putting a strong marketing campaign.It has staff with equipped skills and researchers with the required scientific skills to develop male products and marketing sta ff that ensure effective promotion of the products in the market Opportunities There is an increase in sales of male skin care products, and this ensures a greater share of the market. Also, Nivea for Men takes advantage of the changing social trends and attitudes and, in this case, men are becoming open to facial skincare products.Weaknesses The company is made aware of the relevant target audience and if the market research is up-to-date.Threats The risk of competitors entering the market poses a real threat as consumers are becoming more knowledgeable and aware of prevailing market prices and these demands for promotions and discounts to consumers. As a result of these threats Nivea for men differentiates its products and ensures, in a competitive market can yield positive returns on investments in regards to sales and profits.SMART objectives The company ensures the objectives set are Specific, Measurable, Achievable, Realistic given the time constraint and availability of resou rces. This concept helps in setting specific targets for a growing market and increased sales and ensures the market share in regards to improving its brand image.Future of the firm Nivea for me...