Product is the first and important element in the marketing mix. A product is a criterion which is designed for satisfying the needs and wants of the consumers. The first step in building an effective marketing mix is to understand the market and consumer’s demand. For targeting key markets, NIVEA Company used market research which identifies target customers with the similar characteristics such as age, attitude, gender and lifestyle etc. The awareness and understanding from the market research helps in the advancement of new product. NIVEA Company has carried out its market analysis in various ways which encompasses:
- Targeting focus group in order to interact with consumers directly.
- By several research techniques, gathering customer’s view.
- Performed product testing different consumers in different markets.
In the year of 2007, NIVEA Visage Young has been re-launched with an aim to encourage their target customers in order to develop a routine for proper skin. This has become a most competitive advantage for the company because no other product in the market is available for this purpose.
The main target customers of NIVEA Visage Young were teenager and young girls. The NIVEA Visage Young offered a range of products which developed a routine for proper skin care and along with this it also helps them to keep their skin healthy and beautiful. The target customer demanded a product which satisfies their needs and want. The NIVEA Visage Young was an improved product range of its parent brand NIVEA which was introduced in order to satisfy the desires of their customers (NIVEA: The use of the Marketing Mix in Product Launch).
Describe what is meant by a business being “Consumer Led”.
A business being “Consumer Led” is that way which was basically taken by company in order to lead the target customers towards their product and accessible through a brand by providing reachable place to access. In the business term this concept is recognized by Promotional strategy. The promotional strategy of NIVEA Visage Young was the consumer led. By the usage of various below-the-line routes, company evaluated several ways for getting views of teenagers and their mothers. These are as follows:
The key element of company’s promotional strategy was to use product samples. This facilitates customers to smell, touch, feel and try the product at once. In the year of 2008, more than a million samples of new product of NIVEA has been given away. These samples were accessible through the samples in stores, websites or through goody bags given at road shows. This whole was the promotional strategy of company for keeping their products in the view of customers.
The NIVEA Visage Young has launched online magazine named as FYI (fun, young and independent) in order to enhance brand awareness among people. The central aim for launching this magazine was to enable confidence to the teenager girls to become younger and enjoy their brand new independence.
The NIVEA Visage Young has connected with FYI and after that acknowledged the power of social networking sites among the young audience. After that company has pages on several social networking sites such as Facebook, MySpace and Bebo. The company was approaching media as a part of promotional means for growing their business and customers in the market (NIVEA: The use of the Marketing Mix in Product Launch).
What are the key parts of the marketing mix? Explain how each works with the others.
The key elements of the NIVEA Visage Young marketing mix are product, price, place and promotion. These marketing mix key parts played vital role in the establishment of any product in the market. The first element is the product, which has been redesigned and its revised feature which was specifically created for the wants and preferences of the NIVEA Visage Young fragment. The product has been redefined in order to pass a message of social responsibility and corporate sustainability which was a significant factor for the principles of the young women. By drastically adopting the formula of including natural elements such as sea salts and minerals, NIVEA has established its root by creating their product that reflects its market positioning. The product is the catalyst in the marketing strategy which unifies all other elements in the marketing mix.
The pricing was constant with the strategies for distribution channel for promoting a majority of skin products by the means of street retailers. The hike in price also builds an effective price and quality relationship which differentiated these products from the further skin treatments. After this marketing element place played a vital role in the marketing strategy. The NIVEA Company has promoted their range of products at effective places so that customer can easily access their products. Promotional place has significant impact on the selling of any product.
One of the significant elements of marketing mix is promotion strategy. Promotion of NIVEA products established an awareness of products range among the customers. These marketing mix elements have integrated significantly over the development of business. Product, price, place and promotion are directly or indirectly interconnected with each other. One element motivates others. These marketing mix tools enable a company to grow in the market by analyzing the market requirement (NIVEA: The use of the Marketing Mix in Product Launch).
Explain why the balance of the marketing mix is as important as any single element.
The elements of marketing mix are equally important in order to ensure balance when the company is focusing on marketing a product in the market. The NIVEA Company has adopted four P’s of marketing mix in order to identify the strengths and weaknesses of the combination of these marketing mix tools. It would be very worthy to have magnificent product at affordable price and located in accessible place with the advanced promotional techniques. In case, if the products is marketed marvelously at the least possible cost and also have popularity among public but the product is placed in such a way that nobody can find out in market. For overcoming these drawbacks it would be vital to integrate each marketing elements with each other in the balanced manner so that company may grow with the pace of life. The NIVEA Company designed a new range of products in the market by analyzing the market situations. The company has established a balance framework among all marketing tools in order to enhance their business and satisfying their customers in the market. The Company emphasized on each marketing elements in the balanced way for consistently growing in the competitive era (NIVEA: The use of the Marketing Mix in Product Launch).
Analysis the marketing mix for NIVEA VISAGE Young. What are its strongest points? Explain why you think this is so.
The NIVEA Company after market research has re-designed a range of product with new formula, packaging, design and with the new name in the market. The Company has focused on the marketing strategy by more emphasizing on the balancing view of marketing mix tools. This balanced marketing mix given additional advantage to the company for their business development.
As per the market research younger consumers wanted beautifying benefits rather than a solution of skin decease. NIVEA Visage Young was introduced for skin care targeted at those girls who do not want any medicated product. But competitor’s products were more focused to the problems. This became an additional competitive advantage to the NIVEA.
The Company’s pricing strategy wants to ensure initially a range of products at low prices so that company can achieve high volume of market share and purchases. With the availability of range of products at this low price, it encouraged customers to develop a practice of buying. This was a strong benefit to the company.
The NIVEA Company has emphasized on the place and promotional strategies of the company. NIVEA has placed their products at that places from where consumers can easily access their products. It placed their products at retail outlets which is generally accessible by customers. Along with this for enhancing the awareness of their products among the consumers, Company has promoted their products by the efficient usage of advanced techniques for promotion. These were the additional advantages to the company in the market for their business development (NIVEA: The use of the Marketing Mix in Product Launch).
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