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Carefully read the following: NatureCare Products is based in Brisbane, Queensland Australia. It commenced business in 1996, manufacturing and retailing eco-friendly, high quality beauty skin care products. The business was established to cater for a growing demand for skin products that contain eco-friendly and natural ingredients. There is also an emphasis on eco-friendly packaging. NatureCare Products’ current Strategic Plan identifies that its vision is to be a market leader for providing high quality, sustainable skin care products. Its organisational objectives are to: To be a high performing profitable business To be a leader and innovator in natural, eco-friendly cosmetics To attract, engage and develop the best staff It has identified its major competitors as being Jurilique and Botani and is currently working on positioning itself against this strong competition. The prices of its products are slightly higher than major competitors. The organisation currently consists of the CEO, Operations Manager, Sales Manager, Marketing Assistant, Customer Sales Officers (5) and Administration staff (3). All the positions are based in the office in Brisbane. The company’s current range of products include: Cleansing creams to soothe skin during make-up removal. Primary ingredients are shea butter to nourish the skin and plant the skin, and plant extracts rich in essential oils with regenerating and anti-inflammatory properties. This product is for delicate and mature skins and can also be used as a baby cream. Multi Protection Day Moisturizing Creams for dry to normal skin types that help protect the skin during the day. It contains shea butter and extracts from fragile green algae that provides hydrating and protective properties. Regenerating facial scrub to clean off dead skin cells to promote regeneration of healthy new cells. This product can be used on most skin types. The company has become well established in the Australian market and sells its products in health stores across the country. However, the company wants to widen its range of retails outlets with other outlets that reflects its desired positioning. It also sells its products online through its own web site, although there is no SEO, and no social media presence currently. The company targets customers that want high quality, eco-friendly products. Market research has identified that around 70% of customers are professional women aged 25 to 55. The current strategy of the company as identified in its latest Marketing Plan is niche marketing to the target group based on positioning the products as high quality and eco-friendly. With regard to the marketing of NatureCare Products, the company is reasonably happy with sales through the web site but would like to do more in the future, for example, through reviewing search engine optimisation and to use social media to generate sales. The company is in a strong financial position and has a budget of around $150,000 for marketing for the upcoming financial year. The company would like to add more products over time and is focussed on a range of products to meet particular skin needs rather than a one-size fits all. The company is also interested in expanding overseas. Research has identified that Japan may represent a good opportunity for the company, as it has been identified there are good opportunities for products made from natural ingredients. The company has also decided to target essentially the same group of consumers as for the Australian market, as it has identified that a key group of consumers in Japan for cosmetic products are middle-aged and older women who seek functionality and higher-value-added items. Regarding the company’s current promotional activities, successful promotional activities have been advertisements on the Australian body + soul web site and in the Natural Health magazine. There have also been in-store promotions with the focus on high quality products for women. The management team of NatureCare Products has advised that its primary marketing objectives are: Increase the number of people who make a purchase while visiting the online store by 20%. Increase the number of retail outlets selling NatureCare Products by 150. To increase product awareness amongst the target market by 20%. To increase market share to 15%. To expand into at least one international market. To identify new products and new markets. To attain annual growth of at least 10% over the next three years. Regarding market trends, the following have all contributed to the growth in popularity of natural-based personal care products: health warnings environmental concerns ethical concerns therapy awareness organic attitudes It is predicated that natural/organic skincare, hair care and cosmetics sales will continue to grow strongly in the retail sector. Cosmetics in general are also still growing strongly. Complete the following activities: 1. Write a Marketing Plan Briefing Report. Review the case study information and use the Internet to conduct research on trends and development in the cosmetics industry, potential new and emerging markets, competitors and any other relevant factors. Based on your research and the review of the case study information, develop a SWOT and a PESTLE analysis that outlines all of the internal and external factors that will impact on the Marketing Plan. Identify and evaluate least three potential marketing opportunities for NatureCare Products and that align with organisational objectives. The evaluation of each of the marketing opportunities that you identify should include the following: The fit with organisation’s objectives as outlined in the scenario information. Risks of each of the marketing opportunities you have identified. Potential returns of each of the marketing opportunities. Returns can be identified in general terms, for example, greater market share. Identify and report on feasible marketing strategies that can be implemented for the marketing opportunities you have identified, including strategies that: Address the four P’s of the marketing mix in accordance with the organisation’s marketing objectives, including desired positioning. Align with organisational strengths as described in the case study information Are relevant to the three marketing opportunities you have identified Are consistent with NatureCare Product’s ability to implement such marketing strategies given the information provided in the case study. The briefing report must include a clear rationale for your selection of marketing strategies based on the above, and clearly demonstrate how the strategies align with the NatureCare Product’s strategic objectives. Following determination of the marketing strategies, you are required to plan and report on marketing tactics for each of the marketing strategies you have identified. This must include: Details of proposed marketing tactics to implement each strategy and rationale for such. Timing of the marketing tactics, staff roles and responsibilities and costs involved. Costing should be developed in line with the budget outlined in the case study information. You should research the cost of the marketing tactic you identified using the Internet to ascertain general costs and record these in the briefing report. Recommended coordination and monitoring mechanisms that will be used to ensure that the marketing tactics are implemented as required and according to timelines. How the proposed marketing tactics are achievable within the available budget and staff and are relevant to the organisation’s marketing objectives. Legal and ethical issues that need to be considered in using the marketing tactics proposed and how you have ensured these issues are addressed. The following codes and legislation should be reviewed to assist in the identification of legal and ethical issues (depending on the marketing tactics proposed): http://aana.com.au/content/uploads/2014/05/AANA-Code-of-Ethics.pdf http://apps.ami.org.au/About/code_of_conduct.asp http://www.adma.com.au/comply/code-of-practice/ http://www.acma.gov.au/Industry/Marketers/Anti-Spam/Ensuring-you-dont-spam/key-elements-of-the-spam-act-ensuring-you-dont-spam-i-acma Develop and report on marketing performance measures to ensure performance against marketing objectives and budget can be measured and allowing for adjustment against measures as required. Develop and report on strategies that can assist in increasing organisational expertise or resources to address gaps in currently capability and marketing objectives as per the case study information provided. Use the Briefing Report Template to guide your work. This document is Briefing Report Template It is part of the supporting resources for Assessment Task 2 of BSBMKG609. NatureCare Products Marketing Plan Briefing Report Introduction Include an introduction to the briefing report to explain its purpose. Market overview Discuss trends and development in the cosmetics industry and competitors, potential new and emerging markets, competitors and any other relevant factors. Current customer profile Describe current target group. SWOT analysis Outline each of the business’ Strengths, Weaknesses, Opportunities and Threats in the table below. Strengths Weaknesses Opportunities Threats PESTLE Analysis Identify relevant PESTLE components and explain the business impact. Marketing opportunities Discuss at least three marketing opportunities for the company based on the SWOT and PESTLE analysis. Include an evaluation of each of the three options, including a review of any possible risks for the marketing opportunity identified and likely returns in regard to revenue and/or profit. Marketing strategies Identify and report on marketing strategies that could be used. The marketing strategies you develop must: · Address the four P’s of the marketing mix in accordance with the organisation’s marketing objectives, including desired positioning. · Align with organisational strengths as per the case study information · Be relevant to the marketing opportunities you have identified · Be consistent with NatureCare’s ability to implement such marketing strategies given the information provided in the case study. · Consistent with existing staff resources and budget. Marketing tactics Identify and report on marketing tactics for each of the identified strategies including: · An explanation of marketing tactics and rationale for such. · Timing of the marketing strategies, staff roles and responsibilities and costs involved. · Recommended coordination and monitoring mechanisms that will be used to ensure that the marketing tactics are implemented as required and according to timelines. · How the proposed marketing tactics are achievable within the available budget and staff. Marketing performance Identify and report on how marketing performance will be measured against marketing objectives, including a description of the marketing metrics that can be used and rationale for this specific approach to reviewing marketing performance. Strategies to increase organizational expertise or resources to address gaps in currently capability and marketing objectives Develop and report on strategies that can assist in increasing organizational expertise or resources to address gaps in currently capability and marketing objectives as per the case study information provided. BSBMKG609 Develop a Marketing Plan Vocational Training Institute RTO 41111 CRICOS 03487C Page 1 of 2 Version October 2019 v1.0 © J&S Learningwork 2018