Market is a segment of potential buyers and sellers who interact to trade product and services. In this, a particular item is made up of existing consumers who needs it and willing to pay for this. For this, an organisation needs to build their own image by introducing their creative ideas in geographical region (Tanner and Raymond, 2015). Launching a new product is not an easy task because for this, an organisation needs to make proper analysis on target market and audience as well. Through this, they can easily analyse customer's demand and requirement for specific product and things. This process required proper planning, designing, manufacturing, monitoring, controlling and implementation to getting desired goals and objectives in effective manner. In this procedure, some organisations faces tough competition from existing firms and their products. Therefore, management of business firm needs to use impactful strategy to easily differentiate their products than others. This report is based on a proper marketing module in which Dove launch a new hair care product for their professi
Description of New Product
Dove absolute repair serum is a new hair care product that introduce for heat protection and leave-in treatment. This product is used to repair damaged hair while making straightening and blow-drying. However, main reason behind introducing this marvellous serum is to mark each portion of the hair according to its level of damage and dryness. For this, professionals of Dove are adopting advance technology for analysing foremost reason behind occurrence of split-ends in hair as well as deterioration. Serum is a basically uses to treat hair genteelly before drying, straightening and styling. It helps to smoothing length and follicles of tame curly and frizzy hairs (Armstrong and et. al., 2014). Professionals saloons and individuals uses such products to protect hair from heat generated styling as curling, flat ironing and blow-drying. Dove use only natural and organic active ingredients in their Absolute repair serum. It is helps to moisturise the scalp, re-texture the hair, add volume, repair the ends of dry hairs and to make rejuvenated as well as shiner. Thus, some hair expert organisations are formulate chemical ingredients that can be aggressive and harmful for hairs. Therefore, Dove introduce their new professional range to protect hair from such chemical uses and its negative impacts. Expert says that best apply of serum is directly on wet hairs to get better results. Through this, customer's can get positive results of its better suited hair goals. It is basically apply as 1 or 2 drops on length of hairs genteelly. It can perfectly apply on wet hairs by evenly distribute on midsection to length. It can also apply before straightening and blow-drying to protect hairs from heat and harsh chemicals. Dove absolute repair serum is perfect for all types of hairs and it can apply easily by adopting some simple methods. It also help to prevent hair from heat damage but takes a long period to provide desired and better results. According to some experts view, it is require to decreasing number of times that uses to blow-dry and straitening hairs because it make hairs rough and frizzy (Lilien, Rangaswamy and De Bruyn, 2013). It can be a better technique to get better results without applying harmful chemicals. These serums consider vitamins, proteins, organic essence oil and vegetable waters and so on. Through this, hair get conditioning and volumizing within 45 days. Dove professionals provide some other tips for hairs care that individual needs to use low heat tool and equipments because these are generally uses in saloon treatment and impacts negatively on natural hairs. For this, experts of Dove implement organic properties to nourished hairs by quality products. Through these positive results, Dove absolute repair serum can easily build their new image in target market by satisfying customers.
Market for this Product
Beauty and hair care industry is include customer base products that helps on maximising their demand and requirement for specific services. Now a days, buying behaviour of consumers has change due to inappropriate and unsatisfying products as well as services. As its results, it is hard for a new organisation or products to build their own image properly in target market. This process required proper monitoring on customers and target market for analysing their requirement and need. Dove is a well known organisation that deals in beauty and hair care services. For them, it is require to analyse customer's desire and need before introducing new products in target market. Dove absolute repair serum is a new product that launch by this organisation for hair care services (Gbadamosi, 2013). Factors that helps to create positive image of a product can be efficiency, recommendation, penetration and target market. Professional hair care market is basically expected for those products that helps in maximising customer's satisfaction level properly. At that time, this industry faces a major challenge as damaged and dry hair while making straightening, styling and blow-drying. An specific market segment of products is distinguish on the bases of type of products, distribution channels and qualities that assist in maximising its sales. For proper market analysis, Dove needs to use information analysis procedure by implementing different techniques as qualitative and quantitative. Through this Dove can monitor exact market for this product. These are the most impelling tools of individual synthesis to render quality services properly. All these procedures are known as data analysis techniques that used to getting higher competitive advantages easily. It provide in depth analysis that governing factor along with market quality on the bases of different segments. Through this analysis Dove can analyse dynamics in changing market, competitive organisations and potential as well as niche market. All these analysis assist to create a positive image of organisation in geographical region.
Strategy for segmentation, targeting and positioning of the product
For a business organisation, it is required to analyse target market and audience while launching a new product. In this procedure, they can use STP model that helps in analysing strategic approach of modern market (Okol'nishnikova and Iuldasheva, 2013). By implementing such strategies, an organisation can easily analyse customer's requirement and need to cater quality services to them. This plan aid to build positive marketing communication strategy to prioritise specific proportion of market. It is used to engage with target customers properly. In this procedure, communication play most important role in order to analysing customer's requirement and need on the bases of different segmentation. This strategy is determine three different elements as
Segmentation is a most specific procedure that uses to analyse new customer's and their demand for specific product. Through this, Dove can easily launch their new strategy in front of target audience by properly determining features, quality and effectiveness of their new products. This strategy is classify in different ways as Demographic variable is stand for Age, gender income level and religion of customers. Through this, Dove can easily provide their quality services to them. This is a most specific area that used to distinguish audience in different segments. Dove absolute repair serum can be more promising for female customers by providing leave-in treatment to them (Lees-Marshment, 2014). Geographic variable is used to analyse Locality and highly demanded area. These kind of products are basically uses by hair care professionals and female candidates, so for this organisation needs to make proper focus on such location. Through this, employees of Dove can easily engage with customers of different geographical regions. Behavioural variable is also a part of segmentation strategy. In this procedure, Dove needs to analyse Customer's choice, demand and need to render appropriate services to them. Dove absolute repair serum is a hair care product that can used for heat protection and leave-in treatment procedure. This product is aid to repair damaged hair while making straightening, styling and blow-drying. Psycho-graphic proportion used to analyse customer's Lifestyle, hobbies and emotion for specific products and services. Through this organisation can easily serve quality goods to them on the bases of their requirement and need. Dove absolute repair serum is helps in heat protection and leave-in treatment of hairs. They also implement organic properties in this products to provide natural nourishing to hairs. This product is suitable for all types of hairs to protect them from dryness (Moriarty and et. al., 2014).
Targeting is also a factor of product strategy which is generally used to make proper analysis on existing segments that served by other firms. Through this Dove can easily analyse different area that helps to provide befitting ontogeny and sustainability. This activity helps to make proper gap analysis in which firm examine what they supposed to be and where they are right now. All these factors make a significant importance of firm's new strategy they wants to introduce with specific targets. Choosing a target is depends on several products and services that organisation wants to offered. For this firm needs to adopt undifferentiated marketing strategy to to promote their services proper in each segment of market.
Positioning strategy is used to create impactful image and goodwill with own products and services. Dove always launch their processional range on the bases of customer's requirement and need. Dove absolute repair serum is also a impactful Product that used to prevent hair from heat damage. This is a most ingenious idea and approach that aid to move them one step forward from present image. To make better positioning firm needs to use cost effective strategy to capture customer's attention easily toward their services. To create desirable position in competitive market, Dove needs to implement promotional approaches for introduce features and effectiveness of services in front of target customers (Morgan and Pritchard, 2012).
Marketing Mix for this product
It is one of the mostly used by marketers in order to increase the efficiency of market plans. It includes several marketing tools that help company to achieve marketing objectives. Earlier, in involves 4P's which included Product, Price, Promotion and Place and later on it was extended to 7P's which includes Process, People and Physical evidence. Marketing mix of Dove absolute repair serum are mentioned below:
Dove company is manufacturing multiple products which include mainly haircare, skincare, etc. These products nourishes and make skin glowing and radiant and also protect skin and hair from pollution, dust and damage. Due to this property, it has attracted lager number of customers specially female customer towards their products (Villeneuve, J.P. and Pasquier, M., 2017). Now, they have introduced a new product that is, Dove absolute repair serum in order to protect hairs from damage. Scientists have used recent technology in order to formulate this serum.
Products of Dove have generally moderate and sometime high price but is affordable by everyone. They have set moderate price for this hair serum so that, customer who wants to purchase this product can easily buy it. By this, they can achieve high selling due to its unique features with moderate pricing.
Promotion is an effective way to promote company's product and make customers aware about new products that are launched by the organisation. Company uses wide variety of promotion tools like, advertisements with celebrity to pose more impact on customer, online advertisements, sample distribution at launch parties, magazines, newspapers, etc. They spend huge amount on advertisements and due to this they gain attention of large number of customers. For promoting this new serum, company can also use theses sources to advertise and brief customers about their features and its importance. This is an effective way to gain maximum revenue and with strong promotion, they can maximise their sales.
Place is distribution and positioning is crucial part of marketing mix. They help marketers to distribute company's product t different markets as well as to different countries. Company aim is to make their products available to customers on time. This will increase trust within consumers and they will prefer them over other industries (Yeshin, T., 2012). Dove absolute repair serum is a new product which company can distribute and make available to different parts of countries by choosing strong distribution channel. They should also ensure that, packaging of the product is not hindered or damaged by any physical forces and remain intact till the consumer gets it.
Process of Dove company develop manufacturing process or procedures which are cost efficient and meets all quality standards. This new serum is manufactured by professionals and are using advanced technology. For developing this new serum, they have used organic elements like vitamins, proteins, organic essence oil, vegetable waters and others. These are used in order to nourish hair properly and increase their volume in shorter period of time. These are the unique features of this serum and is capable to attract customers as they prefer organic products as compared to chemical products.
People factor consider employee of organisation who provide their effective contribution in introducing in services in target market. In Dove, professionals analyse several areas of requirement to reproduce quality services easily (Hastings and Domegan, 2013). Absolute repair serum is a new hair care product that acquaint for heat protection as well as leave-in treatment services. In this process, employees adopt advance technology to represent quality services in market.
Physical evidences are used to provide higher satisfaction to customers by implementing new and unique features in products and services. These practices should have to eye capturing that assist to create positive image in target market (Ennew, Waite and Waite, 2013).
Throughout the entire assessment I have gone through numerous of problems such as; hard to acquire relevant information, authentic data, product need, target market and so on. In this process I have analysed several areas of target market in which I can initiate new products and services. It is very ambitious to canvass each and every segment of hair care industry because female customers are affectionate of hair styling activities. Major faint point of my research is to analyse the behaviour of different female customer in several market segments which affects to get desired results. The most common issue that I identify through this research is that they faces issues of damage hairs and dryness while making straightening, styling and blow-drying. I also examine that hair needs more protection and care before styling, so for this individual needs to apply a simple process as wash hair, conditioning them properly and use a minimum amount of serum through damp hair from midsection to ends of hairs. This process requires to apply 3 times in a week to getting better results. I choose this product best because it consider all the natural and organic properties that always impacts positively on each segment. In future, these kind of assignments helps me to build positive relation with customers by providing efficient and quality services. Through this, I can easily make proper research on each portion of market by implementing creative and impactful ideas.
As per the above report it has been summarised that market is a segment in which buyer and sellers interact to each other for exchanging experiences on the bases of their purchasing and selling behaviours. Customers are the last buyer of products, so for them organisation needs to make impactful strategy to provide higher satisfaction to them. For this, an organisation can launch new product in target market by analysing customers need and desire. It requires proper analysis on Market for Product, Strategy for segmentation, targeting and positioning of the product and Marketing Mix approaches. This plan aid to build positive marketing communication strategy to prioritise specific proportion of market.
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