Maybelline Marketing Plan. 'all correct answers 100%'

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Table of Contents Executive Summary 2 Environmental Analysis 3 Competition 3 Economic 3 Political 3 Legal and Regulatory 4 Sociocultural 4 Technological 5 SWOT 6 Strengths 6 Weaknesses 7 O... pportunities 8 Threats 8 MARKETING OBJECTIVES 9 Marketing Strategies 10 Segmentation 10 Target Customer 10 Differentiation 11 Positioning 11 4 P’s 12 Product 12 Price 12 Place 13 Promotion 13 USP/Key Message to Deliver to the Customer 14 Value to the Customer 14 IMC Plan 15 Effective Use of IMC Action Plan 15 Implementation Plan 15 Measurement Process 17 Overall Effectiveness 17 Resources 19 Executive Summary Maybelline New York is one of the best, well-known makeup brands in the world. Maybelline is a subdivision of the cosmetic company, L’Oreal. L’Oreal had 28.49 billion dollars in global sales in 2013. L’Oreal does not release individual sales statistics for many of its subdivisions, but has confirmed that the Maybelline New York brand is one of the company’s high contributing brands. The Maybelline brand is estimated to be worth 2,921 billion dollars. Maybelline produces high-quality products at affordable prices. Maybelline is currently the number one cosmetics brand in America. Maybelline is also a large global competitor; Maybelline products are offered in over 100 different countries. With a global market share of 7.4%, Maybelline has the largest global market share of any brand in the cosmetic industry. Maybelline specializes in offering a large selection of impressive, yet inexpensive, lipsticks, nail polishes, and mascaras. Focusing on mascaras specifically, Maybelline offers mascara at a variety of prices, depending on different product features and benefits intended to meet the needs of a diverse target market. Maybelline successfully holds a larger market share of the mascara market than any other individual mascara brand, with a market share of 18.8% in America in 2013. Maybelline’s target market is young women ages 16-25. This encompasses women of all backgrounds, including African American, White, Hispanic, and Asian. When marketing to people of this target market, social media is very important. Due to this, Maybelline does a lot of marketing via social media and is very active on social media sites such as Facebook and Twitter. Maybelline also uses women of varying ethnic backgrounds in its advertisements in order to represent all segments of the target market in its marketing efforts. Environmental Analysis Competition Maybelline is working in a monopolistic competitive structure. There are many potential competitors in the cosmetic industry. Therefore, Maybelline much differentiate its products from those of the competitors. Maybelline has a couple of major brand competitors in America, Cover Girl and Revlon. Many other competitors are brands that are subdivisions of the company Proctor & Gamble. That being said, Maybelline is a huge competitor in the cosmetic industry. Maybelline is currently the number one cosmetic brand in America, and is a subdivision of the number one cosmetic company in America, L’Oreal. Maybelline is also a large global competitor, with Maybelline products available in over 100 countries. Maybelline has the largest global market share in the cosmetics industry. Maybelline’s world market share is 7.4%, while its top global competitors, Avon and L’Oreal Paris, have market shares of 5.4% and 5.3%, respectively. Economic Due to Maybelline’s innovative culture and advanced technology, customers are willing to spend money on this product. The economy is currently in a good place, and economic factors are not heavily influencing the cosmetics market. People are spending money on Maybelline, and this is made obvious in Maybelline’s high market share. Consumer willingness to spend money on quality makeup is also made apparent by the fact that Maybelline’s owner, L’Oreal, which is currently the top grossing cosmetic company in America. Political There are always political factors effecting the cosmetic industry. The largest political factors for a global cosmetic company is adapting to different government leadership styles and political officials in various countries. To avoid any political issues, Maybelline must abide by set regulations and standards in each varying market, which is more thoroughly discussed in the legal and regulatory section. Maybelline also practices self-regulation to avoid further government involvement. Legal and Regulatory There are many legal and regulatory factors that governments impose on the cosmetic industry. The main legal and regulatory involvement is through laws setting restrictions and regulations. An example of a restriction that governments may put on the cosmetic industry is banning certain types of chemicals, such as Phthalates, which is carcinogenic. This is just one example of a regulation used to ensure that products are safe and do not contain any harmful substances. Another legal and regulatory factor that Maybelline must consider is legislation for advertising. There are strict rules set by Advertising Standards Authority. Such standards include that advertisements cannot be misleading by over-exaggerating the function of the product. This is particularly important in the cosmetics industry, when it is important for the product to look and function as the consumers expect it to. Sociocultural Consumer demographics is a very important piece of the sociocultural environment. Maybelline’s target market is young women between the ages of 16 and 25. This encompasses women of all backgrounds, including African American, White, Hispanic, and Asian. Therefore, Maybelline must make products for each of these groups, use appropriate marketing techniques, and be aware their differing wants and needs. One way that Maybelline reaches this diverse target market is to include women of differing ethnicities and backgrounds in advertisements. When consumers see diverse ads, they are more likely to feel they are appropriately represented, and often feel more important to the company. Technological Maybelline has made many technology advances throughout the brand’s life. The first major technological advancement that Maybelline made was creating America’s first mascara. In more recent years, Maybelline has made efforts to use new technology as opportunities to become more ethically responsible. One such ethical issue addressed with new technology is the testing of products on animals. Prior to 1989, Maybelline used animal testing to ensure the safety of their products. More recent technological advancements have allowed Maybelline to start testing their products on reconstructed skin models and computer modeling. This advancement took a major step towards eliminating the use of animal testing.   [Show More]

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