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The Times 100 Business Case Studies

The Times 100 Business Case Studies

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The Times 100 Business Case Studies

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  1. The Times 100 Business Case Studies NIVEA Developing a marketing plan

  2. Introduction to NIVEA • Major brand owned by Beiersdorf • Introduced in 1911 • A global brand with14 product ranges • Includes moisturisers, deodorant, suncare • NIVEA FOR MEN launched in UK in1998 • Male skincare market now worth over £117 million • Re-launch of NIVEA FOR MEN in 2008 to increase market share

  3. The marketing plan • A vital part of the overall business plan • Normally of 1-5 years duration • Sets marketing activities for business or brand to achieve aims and objectives • Assesses internal and external factors • Internal – strengths and weaknesses, budgets etc • External – economy, markets, competitors etc

  4. Assessing the market • NIVEA FOR MEN re-launch to target • Male customers • Women who buy for men • SWOT analysis helps to evaluate brand position, products, markets • Strengths/weaknesses within the business • Opportunities/threats in the external marketplace

  5. Strengths and weaknesses • NIVEA FOR MEN strengths • Leading male skincare brand • Strong, available resources within the business • Relevant skills – scientific and commercial • Potential weaknesses • Relevance of product range for target audience? • Market research up to date? • Right sales/distribution for new target audience?

  6. Opportunities and threats • Opportunities • Male skincare market growing • possible to take larger share • Changing social trends • Men more open to buying to facial skincare products • Threats • Consumers more knowledgeable and price aware • Expect sales promotions/offers • Risk of competitors • NIVEA FOR MEN needs to differentiate itself

  7. Setting marketing objectives • Market research important in determining consumer needs • NIVEA FOR MEN relates to business strategy, aims and objectives • To expand the market – get more men buying skincare products • To increase market share - grow sales to men and women • SMART objectives help to ensure targets can be met • Specific, Measurable, Achievable, Realistic, Time constrained

  8. Marketing strategies • Product differentiation through • Brand values – good quality products at good value for money • Product development • Emphasis on consumer needs • Promotion • Experiential marketing - engaging consumers in 2-way communications • Dedicated NIVEA FOR MEN website • Free trial samples • Sport partnerships to create brand affinity and positive male image • Targeted advertising/advertorials in men’s magazines

  9. Evaluating the plan • Assess outcomes against marketing plan objectives/ targets • Key performance indicators • Market share - NIVEA FOR MEN is market leader and increasing market share • Sales - NIVEA FOR MEN in UK worth £30 million in 2008 • Brand image ratings – NIVEA FOR MEN won FHM Grooming Award for 5th year running • Inform the next cycle of development • Product innovation - NIVEA FOR MEN range improved and expanded