Bubble Gum Hair Remover - Essay Example

Bubble Gum Hair Remover Marketing Plan This paper is going to deal with Angels Bubble Gum Hair Remover Company. The company’s overview will be analyzed and its marketing research the company undertakes. The paper will also bring out the mission, market and financial objectives, marketing mix, marketing strategies and target markets. The company’s general operations will be analyzed, and possible recommendation made concerning its efforts to improve its current position. 3.0 Marketing Strategy Angels Co.

Ltd has employed various marketing strategies in its operations, which mainly touches target market, marketing research, and marketing program. There is a need to identify and understand the target market of the company with the aim of knowing ways of approaching. Clear understanding of target market and entry strategies are significant making strategies on utilization of opportunities and how to handle its challenges. Marketing strategy provides avenues for international strategy, which brings alliances with similar companies in other countries.

Through it, Angels Co. Ltd will have an opportunity to sell its products globally. Strategic cooperation with leading industry players is significant in establishing business operations overseas. It should thus participate in strategic partnership with likeminded firms with an intention of facilitating its advancement in technology and productivity to the best globally. 3.1 Mission Angels Co. Ltd aims to be the leading bubble gum hair remover provider both locally and internationally. The company seeks to develop effective methods and various removers, which can be used for various purposes and in an integrated manner. 3.2 Market Objectives The objectives of Angels Co.

Ltd are varied from the organizational roles to increasing market share of the business globally. During the first year, its objective was to aim at having 25% of the market share and making sales up to 200, 000 units. The objective of the second year was to aim 10% of the market share. The significant objective of any company is towards the establishment of a well-regarded brand name, having a direct link to a meaningful market positioning (Kumar, 2005). Adjustment of marketing efforts results from creation of unique brand image, measurement of awareness and responsiveness of the target market, which is of significance in the realization of success in the company.

The company also aims at availing the product to all retailers across the US this are made possible by distributing a million samples in all parts. The company will achieve these objectives with the help of qualified and experienced sales persons. 3.3 Financial Objectives Angels Company Limited seeks to be successful in its business operation and hence need to have clear financial objectives. The company aims at making profits by remaining with some money after deductions. The financial decision determines the growth rate the company desire to achieve.

A steady, dynamic and gradual rate has been the drive of the company towards its achievement. The company aims at the realization of Net profit margin; this is significant since it provides a comparison of company’s current performance and how it performed in the future. It should be able to expand using the profits; this will enable the company to grow without straining its resources. Financial stability of the company will lead to the customer and employee satisfaction, which are indicators of success in any business. 3.4 Target Market The company identifies parts of New York, Alabama and parts of New Mexico as its key target market for its products since most of its competitors have not identified.

In the identification of Angel’s target market, the company has put in place segmentation strategies. Segmentation identification: Bubble gum hair remover to be incorporated with the medical sector and fashion and design sector. Segment needs: The product will meet social needs (social perception) and health needs (removal of dirt a solution to eliminating infections). Segment trends: The Company’s current trends include a move from using paraffin to remove gum without medicinal value, the need of a healthy society by eradicating infections.

These current trends have led to the progressive demand of the product in the market. 3.5 Positioning Positioning of the Angels remover is achieved using positioning strategies, which are unique and modernized. Positioning strategies of Angels are unique and untraditional normally done by Sams designers and other fashion agencies. The company also participates in events organized by these agencies and this has put the company in a position capable of awareness creation and consumption increment across the US.

The company has the product tagline; Bubble Gum Give You Comfort, which has help maintain loyalty of its customers. These positioning strategies have placed the product at a high position in the market; its competitors are striving for this high position. 3.6 Strategies The company has to employ various strategies touching the product, promotion and distribution strategies. The company has come up with means of handling challenges facing its operations. Product strategy is achieved and undertaken and achieved through branding, trade name, brand personality and brand equity.

Product strategy promotes effective marketing and promotion of the product, leading to company’s maintenance of the position in the market. Pricing strategy is achieved by varying the prices of the product based on the intended use of the product. When the product is to be used to remove gums from hair, the price is different from when used to remove from clothes. Angels have managed to maintain its existing market by keeping off its competitors; it did this by using high-low pricing strategy and strengthening promotions.

Promotion strategy has the main objective of creating awareness concerning the launch of new brand of the product. It also aims at capturing market as the provider of competition in the market. Distribution strategy it involves the means of availing the product to the market, which is normally done using various channels selected by the Angels Co. Ltd. These channels include; convenience stores, retailers and supermarkets. Direct sales are the most convenient distribution strategy for this product, thus the most preferred by the company. 3.7 Marketing program Pricing Angel’s products are of reasonable product based on the nature of the product.

The company sells the product at comparatively lower prices than its competitors do their prices relate well with the quality of the product (Kumar, 2005). The issue of prices is met since reasonable pricing strategies designed for the best interest of the consumer. Angels has various promotion strategies for its products these include; brand names serving mainly as a sign of quality. Products descriptions, prices and where to find are available online, websites and newsletters. Product’s assurance is achieved by the availability of a long-term warranty of quality assurance.

These services attract and maintain the loyalty of its customers in the product. To maintain the loyalty of its customers and attract potential customers, the company utilizes convenient channels of distribution for the customer to purchase the product without transportation expenses. Upon customer’s request, the company distributes the product to their location of residence. 3.7 Marketing Research Marketing research is of significance for any product in the market the company should always undertake an effective marketing research.

There is a need for Angels Co. Ltd participates in the process; this is because it will provide information significant for the identification of opportunities in the market as well as evaluating marketing performance. The company will use exhibitions as to test how the product will fair in the market; the company will utilize online exhibition. The feedback from customers after the exhibition provides an avenue for the company to improve on the product, which is significant for the future of the company in achievement of its objectives.

References Fournier, S. (1998). A case for brand loyalty. New York, NY: New York Times King, A & Tucci, C. (1992). Incumbent Entry Into the New Marketing Nitches: the Role of Experience and Managerial Choice in the Creation of Dynamic Capabilities, Managerial Science, 48(2): 171-186. Kumar, D. (2005). The Dynamics of Competition. New Delhi: Orient Longman Publishers Pride, M. & Ferrell, C. (1998). South-Western. Cengage Learning Ries, A, & Trout, J. (1981). Positioning, The battle of your mind.

New York, NY: Wanner Books