Posted at 12.30.2018
A market refers to a set up where two or more parties get excited about deal of goods and services in exchange of money. The two gatherings here are known as retailers and potential buyers.
It is the responsibility of the marketers to build awareness of their products between the consumers. It is vital for the individuals to understand the brand's presence. The USPs of the brands must be communicated well to the end-users.
An organization can't afford to own similar approaches for product promotion among all individuals. Don't assume all individual has the same need and demand.
The marketers thus was included with the idea of STP.
S - Segmentation
T - Targeting
P - Positioning
The first step along the way of product campaign is Segmentation
The department of a broad market into small segments comprising of those who think on the same lines and show inclination towards similar products and brands is named Market Segmentation.
Market Segmentation refers to the process of creation of small communities (sections) within a large market to bring together consumers who've similar requirements, needs and passions.
The individuals in a particular segment respond to similar market fluctuations and require similar products.
In simpler words market segmentation can also be called as Grouping.
Kids form one section; males can be part of a similar portion while females form another section. Students participate in a particular segment whereas experts and office goers can be maintained in one segment.
Once the internet marketer creates different sections within the marketplace, he then devises various marketing strategies and promotional strategies according to the preferences of the individuals of particular segment. This process is called concentrating on. Once market sections are created, business then focuses on them.
Targeting is the next stage and is performed once the marketplaces have been segmented.
Organizations with the aid of various marketing ideas and schemes concentrate on their products amongst the various sections.
Nokia offers handsets for nearly all the segments. They understand their target audience well and each of the handsets fulfils the needs and targets of the prospective market.
Tata Motors launched Tata Nano especially for the low income group.
Positioning is the previous stage in the Segmentation Targeting Setting Cycle.
Once the business makes a decision on its target market, it aims hard to set-up an image of its product in the minds of the consumers. The marketers create an initial impression of the product in the intellects of consumers through placement.
Positioning helps organizations to create a perception of the merchandise in the imagination of market.
Ray Ban and Authorities Sunglasses focus on the premium portion while Retro or Fastrack sun shades target the middle income group. Ray Ban glasses have no takers amongst the low income group.
Garnier offers extensive range of merchandise for both men and women.
Each of these brands has been targeted well among the specific market segments. (Men, women, young adults as well as more aged generation)
Men - Sunscreen lotions, Deodorant
Women - Daily skin care products, hair good care products
Teenagers - Hair shade products, Garnier Light (Fairness cream)
Older Technology - Cream to struggle indicators of ageing, wrinkles
A female could not buy a sunscreen lotion designed for men and vice a versa. That's brand placement.
Pond's Age Miracle is the best answer for anti-aging for women due to its high effectiveness. Pond's Age Wonder was already presented in Vietnamese market but the strategy was not really successful. In this time, the product will be re-launched with a new image. The multimedia goals will mainly focus on raising the awareness of consumers and creating brand recall for the ones who already used the merchandise before. Specifically, through the broadcast press, Pond's Age Magic expects to gain awareness of 80% of the mark market and 60% of the prospective consumers can remember the product after exposing to the advertising media over twelve months period. These characters are quite high because Pond's Age group Miracle is not a new launched product; there are a few consumers who already understood about its living. Moreover, the brand Pond's has generated a good prestige and reputation in consumers' head in Vietnamese market. Newspaper publishers, magazines and television set are identified as major advertising media credited to theirs high coverage
Pond's Age Magic sets the goals for TV advertising to reach 50% of the prospective audience at least three times above the three-month period and the duplicated reach could probably happen because the advertising will be positioned on several Television show. This objective is not high because the advertising strategy can not only focus on TV but also use other mediums. Moreover, due to the high cost; the utilization of TVC will be limited.
Pond's Age Magic focuses on women who are from 35 to 60 years old; they also have an average income and are labeled in upper middle income and upper school ('Demographics Classifications', n. d). Their occupations could be housewife, white collar staff member, clerk, instructor or anyone else who would like to prevent the signs of increasing age and has a lovely, young and smooth epidermis despite their real era. Many of these targeted women stay in cities. Therefore, this marketing campaign will focus working at Hanoi (HN) and Ho Chi Minh City (HCMC), which are the two biggest cities of Vietnam. The figures below illustrate that the average monthly home income and contribution to total Vietnam GDP of these locations' residents are quite high, which can meet up with the criteria of target audience.
To achieve the mass media aims and foster the enlargement of Pond's Era Magic in Vietnamese market, the campaign will apply some promotional blend tools composed of advertising, sales campaign and pr. With desire to to gain knowing of focus on consumers, advertising is a very effective way of getting a broad audience and there petition of advertisements can help to build brand recall and trust of consumers for the product's image. Besides, sales campaign is an excellent tool to generate quick upsurge in sales in a short term. Sometimes, the consumers cannot make a decision what they want; thus, when Pond's Era Magic offers some types of sales campaign, they can probably encourage consumers want to take trial. Finally, public relations (PR) are considered as key strategy of this campaign because of its strong impacts. The activities about PR are expected to capture huge attention of focus on consumers and spread out greater detail about the goodness of Pond's Get older Magic to them. Although general public relation might be costly but the results it can gain are worthwhile doing. .
The advertising will mainly focus on the mediums of traditional marketing including TV, mag, in-store and outdoor advertising and new media like websites. The campaign's period is in one year therefore the advertising will be pass on alternately all over the time, not merging all of those mediums at exactly the same time. Some mediums have high attractiveness such as Television set, newspaper and website would be used continuously throughout the period. Because the objective of Pond's Time Miracle is to attain 50% of target audience at least three times in one quarter; thus, these mediums are necessary to raise the attention and knowledge of consumers about the product. However, the total amount and size of advertising will be varying at differing times, depending on the other activities of the marketing campaign. For example, the amount of ads would be increased to inform audience when Pond's Get older Magic has special events or sales advertising. These are the benefits associated with using TV, publications and websites. -
TV: reaching large numbers of audience on a countrywide level and we can make the specific time that a lot of aim for consumers will watch the TV or specific programs they often prefer. Moreover, Television offers the capacity to convey the concept with sight, reasonable and motion which can convince the audiences better. The graph below showed the ratio of media gain access to or device possession and TV performed the highest amounts in all 3 years from 2006 to 2008.
Magazine: giving more chances to approach the target consumers even as can select the magazines that contain appropriate segmentation and familiar goal with Pond's Age Wonder such as women, beauty and fashion. Moreover, the audience may read journals several time so the frequency could be increased. -
Website: the significant go up of Internet surfers in Vietnam today has made website become an efficient tool for advertising. The most popular websites in Vietnam like VnExpress, 24h. com. vn and Ngoisao. net are upgrading about information, fashion style or entertainment. They could draw in million viewers each day including the target market. Furthermore, advertising on website is cheap, fast and easy to edit or replace this content.
TV and newspaper gained raised percentage of advertising reach weighed against other mediums in the meantime the number of Internet increased quickly over three years
Olay Total Effects
It all started more than 50 years ago, when pots of red face cream bearing the name "Oil of Olay" began surfacing on drugstore shelves. Olay creator, Graham Wulff, and his better half, Dinah, understood what women of the 1950s wanted: young-looking, beautiful epidermis. Wulff's company was sold and resold over time, evolving into the Olay brand, which features numerous products appealing to targeted demographics with specific skincare needs. Among the line's newer lines is named "Total Effects, " which focuses on women who want to reduce the symptoms of the skin's maturing process.
When it comes to marketing strategies, Olay's Total Results purportedly provide 7 anti-aging remedies in 1 formulation. Olay has pinpointed what it considered to be the 7 fatal "sins" of aging skin area: Fine lines and wrinkles; lack of water; uneven tone; unequal texture; large skin pores; sagging; and destruction due to contact with free radicals. Among its offers, Total Effects remarks its products reduce the appearance of fine lines and large pores, as well as make epidermis look firmer.
One of the key substances in Olay's Total Results series is niacin amide, a kind of Vitamin supplements B. Niacin amide is a water-soluble ingredient and, based on the "British Journal of Dermatology" and "Journal of Beauty Dermatology, " putting it on topically has shown increased degrees of ceramide and free fatty acid in the skin. Additionally, niacin amide has also been proven to prevent the increased loss of normal water content. A double-blind review on niacin amide conducted by Procter & Gamble, Olay's mother or father company, indicated which it decreased the appearance of lines and wrinkles and skin staining, reduced redness and sallowness and advanced the skin's elasticity.
According to the company's website, there are some 17 different cleansers, moisturizers and makeup in Olay's Total Effects line that appeal to women with all different skin types. A unique component of the Total Effects line is that it attracts women with maturing epidermis who still end up having breakouts, as evidenced by the line's anti-blemish products. Total Effects also offers specific products that appeal to women afflicted with the aging effects of menopause, fragrance-free products, moisturizers with SPF production, an vision cream/concealer combo and a sunless tanning cream.
Comparatively, the cost of Olay's Total Effects skin care range is considerably less than elite team store brands, such as Dior and Chanel, but nonetheless more costly that the common drugstore fare. Total Results products range in price from around $8 to $23. The expense of Total Effects cosmetic cleansers is more humble and works from $8 to $10. However, the moisturizers represent a substantial increase in price, averaging from $18 to $20.
According to the North american Relationship of Dermatology (AAD), intrinsic aging--the natural process of maturing that results in creases, transparent epidermis and lack of elasticity--cannot be fixed using a jar. Those who want a long term fix--rather than simply the appearance of better skin--may want to consider medical fat copy or botulinum injections to reduce wrinkles or use a prescription topical cream approved by the U. S. Food and Medicine Administration. Laser resurfacing and chemical peels can even out complexion. The AAD will recommend that anyone concerned with aging use a sunscreen with Sunshine Protection Factor (SPF) or 15 or higher before going outside the house, whatever the season, and certainly some Total Results products meet this criteria. However, as it pertains to choosing the appealing anti-aging treatment, such as Olay's Total Results, consult your dermatologist and to decide if the product lines will meet your long-term goals.
Procter and Gamble
Personal Care brands - Skin care
Fight 7 signs of aging
1 / 4Olay Total Effects
Keeps the skin younger with increasing age of the body
Personal care - anti-aging cream
Middle aged and more radiant women above 25 years of age of higher middle class
Prevents aging as well as makes one look younger than her age
2 / 4Olay down Total Effects
1. Strong and effective marketing and promotion
2. Support of P&G
3. Effective in stopping anti aging and taking away dark places etc
4. Widely disperse distribution network
1. High price limits the target customers
2. Dilemma over the original olay in various markets
3. Brand image less proven than other products like Pond's
1. Explore international market
2. Product development and innovation
3. Broadening online presence
1. Presence of established brands and more powerful companies
2. Threat of new entrants
3. Difficult to improve the brand loyalty of customers towards other brands
3 / 4Olay down Total Effects