Table of contents Page
1 Situation analysis / Problem statement 2
2 Introduction – Flare Fragrance (Company Background) 2
3 SWOT Analysis 3
4 Objectives and Financial Analysis 5
5 Marketing MIX 7
6 Recommendations and Implementation 9
7 Conclusion 11
8 References 12
1. Situation analysis / Problem statement
Flare Fragrance is facing in declining of growth rate in 2008 where the CFO estimated year-end numbers projected only 2% growth in 2008. Compare to 2007, sales had risen 12% which was much better than in 2008. An analysis of 2009 strategic initiatives had launched by the CEO, Joely Patterson with determination to make 2009 better
…show more content…
2. Target customer being 18-34 aged group women, for whom the name would ne definitely catchy.
3. If attached with Loveliest. There could be more benefits.
4. There are fair chances of the sales growth.
5. Customers loyal to the brand “Loveliest” will be drawn towards Savvy too.
WEAKNESS
1. Launching a new product has risk factors attached to it.
2. Cannibalization of current sales will also include certain risk in it.
3. Price is at a higher side.
4. Focus has to be put completely on it as the promotions and advertising would take a lot of efforts.
OPPORTUNITY
1. Target a new customer segment that id young and always ready to try something new and exciting.
2. Being in the Prestige category, there is a chance to be accepted by the Innovators, Achievers, Thinkers and Believers, as per the VALS framework.
3. After success in the Prestige category, other VAL’s zone and also can come up with other varieties to suit different age groups.
4. Apart from welcoming an innovated product, this can also build good relationships with the department store.
5. Stagnation of the product is also prevented.
THREAT
1. Dulcet Brand could give a tough competition.
2. There is already a pool of competitors in the market.
3. The financial state of Flare is also at a poor situation. The need to carefully plan the ad and promo part for launching a new product.
4. There has been a declination in the sales, It a challenge for Savvy.
5. Failure could prove to be an
A. If selling on low price, what is the implication for decisions you will make on spending (Advertising, PR, Branding, Channel Support, Quality, Efficiency, etc.)?
4) Based on your positioning strategy, what brand name and marketing budget allocations would you advise?
As a consultant, I would apply major marketing strategies that would fit the new consumer segments and also serve the old consumers just the same. Both short and long term marketing strategies are equally needed for urgent and future decisions.
The common public goal of the marketing discourse is to attract attention from targeted audiences, in other words make the consumer buy, buy, and buy. In order to achieve these goals I have to execute different marketing strategies with the help of the staff and company executives. Together we brainstorm different marketing trends, design different kinds of ads; analyze social media for more effective ways of advertising and calculate risks based on customer insight. When all is done right the end goal will result an increase of sales revenue for the company, which will sharpen its image and name.
(b) diversified its product portfolio; extend target customers and meet the variable needs of customers.
It needs to be a specific group of customers. Sometimes using stereotype images can help to describe a group, such as the “soccer mom.”
This report is on LUSH cosmetics – a sustainable brand in cosmetic industry. This report will
In order to achieve our first marketing objective, we recommend the following activities: Keep producing high quality, positive image products that satisfy customer’s needs. Secondly, the team must maintain direct and indirect sales force of no less than 140 and plan in advance in order to have the budget to do so. We also recommend offering employee fringe benefits to encourage long term positions
3. The marketing strategy of company is not so convincing because they can extend their product range with good
3. Which is the most attractive customer segment for MBC to target? Explain your reasoning.
4. Pick a theme that highlight customer journey or activity. It will effectively bring more interesting.
General Issue: which segments should the company target? How should the company and its products be positioned?
Increase market share by gaining and maintaining the good reputation in the market by 1% each year.
5% and 10% off-invoice allowances on small and large size prepacks, respectively. Sales of each prepack were expected to account of 1/3 of 2009 Savvy sales.
5. There is always the widest scope for 3rd party reliable positive feedback for your product through social media marketing which always works better than paid advertisement.