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MARKETING MANAGEMENT
GSRM 7223 (2014/9)
TERM PAPER
PREPARED BY:
Carolina Binti Caneza (SB1409MD0044)
Nur Atiqah Binti Ngatimin (SB1409MD0035)
Roslia Bt Lontou @ Anthony (SB1409MD0014)
PREPARED FOR:
Madam Siti Nor Bayaah Ahmad
DATE OF SUBMISSION:
01 December 2014
Table of Contents
EXECUTIVE SUMMARY
INTRODUCTION
SITUATION ANALYSIS
The Malaysian Market
INTERNAL & EXTERNAL ANALYSIS
SWOT Analysis
PESTLE ANALYSIS
MARKETING STRATEGY
Marketing Mix
Target Market
ACTION PROGRAM
SALES FORECAST
Projected Sales Forecast
IMPLEMENTATION AND CONTROL
SUMMARY
REFERENCE
EXECUTIVE SUMMARY
Damsel is a cosmetic based company that combines beauty and health to their product and service. The beauty and wellness industry is comprised with an interrelated diverse set of business lines. This industry benefits us to be at our best appearance, smell as well as health. It is nothing new when it comes to what this industry is offering to the market, however the growth and evolution of the beauty industry continuously attracting the interest of many entrepreneur and other stakeholders. Nowadays, it encompasses further more than merely cosmetics and skin products, the most significant products in the beauty sector. People of different level of ages possess their own beauty ritual with various purposes that includes as an escape plan from the hustle of the information age and many more other reasons. The health and beauty market in Malaysia is growing precipitously. Malaysians spend an estimated of $500 million annually on cosmetics. For Damsel, these reasons are the opportunity that we would love to endeavour through the development of this marketing plan.
Damsel will diversify its product by not only offering products and services for female consumers, but also placate the interest of the opposite genders as well as serve the market as an expert consultant for beauty. Product and service development is the heart of the strategy for this company. In the attempt of making the company to accomplish its aim, this marketing plan will aid in the realisation of its strategic development.
INTRODUCTION
Damsel is in its development stage in its operation. Marketing will be of crucial part for the business in order to endeavour the beauty market in Malaysia. Damsel ventured in the beauty industry due to its market that is said to be vibrant and most exciting consumer market in the world. Undeniably, the desire to appear immaculate and pursuing the appeal of dreamed beauty are temptations that many women are being hypnotised with. These are covets that have been nurturing the ever blossoming beauty industry in global.
Damsel will be introducing the following products and services to the consumers;
SERVICE
Damsel will be strengthening its business through the diversification of business by introducing relationship-marketing strategy that will aid in gaining customer’s loyalty. Damsel is currently introducing membership programme to its customer along with the perks of being a member of Damsel in its loyalty programme.
The services include;
- Beauty consultation
- Certified Make Up Artist Service
Although we are providing these services, we will only be providing the products of our own in order for us to have a strong competitive advantage for branding in both services and products.
PRODUCTS
- Skincare (focusing on Whitening and Anti-aging products)
- Colour Cosmetics
- Perfumes and fragrances
SITUATION ANALYSIS
Referring to the statistic given by Asia –Pacific Cosmetics and Toiletries Market Overview in the year of 2010, Malaysian spent an estimated of RM 1.6 billion annually in cosmetics, showing a significant number of most purchased item is the skin care products. Although Damsel is in its right pedestal on its product offerings, it has to come up with a rejuvenated marketing strategy to get a hold of significant market share in the beauty industry.
Situation analysis will determine the right path for Damsel to pursue in order to gain its market strength. This will be done through scrutinising the company’s internal and external environment.