Marketing Management

Marketing management is a management approach that stresses the practical application of marketing strategies, methods and procedures within companies and organizations and the maintenance of marketing tools and business activities. A business requires a business plan to set its overall course for the company. The strategy outlines how the company is to achieve its goals.

A business goals and priorities guide and shape its business strategy Marketing includes the recognition, preparation, and fulfillment of consumer needs. A marketing strategy takes the specified targets and priorities, and then executes a set of marketing strategies to ensure that those goals are met.

Nivea is the quality leader on the beauty industry worldwide, as it has a solid brand identity and consistently meets the beauty needs of the world s largest population (Kotler, 2019).

Marketing strategies can span any amount of time but generally calculated out company or product line level strategies for the next one to five years, Nivea s marketing strategy works with following steps:

1. SWOT and strategic analysis to determine where the company or brand actually operates and what its rivals are also doing.
2. Strategic goals what is required to achieve the strategy. Market analysis how to hit goals. SWOT and competitive information to identify in which the organization or label really functions and what its competitors do.
3. Desired outcomes that are needed, to achieve the intended strategy.
4. Evaluating the sector how to meet expectations (Di Benedetto, and Landgren, A. 2018).

Key Elements of Marketing Planning

A marketing strategy lacks a fixed pattern. The layout of the strategy and the amount of detail would rely on the nature of the enterprise, the timeline concerned and the actions of the consumer and the market. The core elements of any effective marketing campaign include product, price, position and promotion principles, also known as the four marketing Ps. The strategic combination of the four Ps act as a reference to support the marketing executive effectively build a plan to sell consumers products and services (Išorait?, 2016).

Product

This dimension of the marketing plan is a solution to the needs of clients. In order to stand out in a competitive industry, Nivea must develop innovative product design, branding and features. The inclusion methodology should be taken into account when designing the marketing strategy: size, range, style, labeling, brand name and market expansion.

Price

Every aspect of the marketing campaign involves a value calculation for potential purchasers of products. That is the Nivea s pricing scheme will emphasis on the determination of list rates, payment terms, length of billing, and subsidies.

The study and creation of segmentation techniques by consumers synchronizes. Nivea will use the details from the consumer data analysis to build the tactics for segmentation, targeting and positioning as below:

Establishing the Nivea marketing plan demands that segmentation context be established to understand customers purchasing behavior. Customers expectations, aspirations and purchasing actions are monolithic and rely on highly complex factors such as:

Using the strategy of segmentation, Nivea may segment down the broad, differentiated potential customers into different, strictly focused segments. Product differentiation studies are standard source of obtaining the customer specific data that might be used to build communities that hold similar functional.

Nivea will divide the market into small homogeneous classes, after knowing the purchasing behavior of consumers and having the necessary information through surveys. This can be achieved by analyzing the clients regional, economic, social and artificial intelligence. The company will identify the correct target customer and establish an effective marketing strategy using one or more of these promotional tools.

1. Segment the market by region, such as city, state and area.
2. market classification will enable Nivea to classify the market by population, sexuality, earnings, and nationality.
3. When Nivea prefers consumer differentiation, consumers would ve been separated by their purchase behavior such as frequency use and, preferred rewards, usage benefits and brand recognition
4. Use psychographic segmentation can proceed to classification of consumers related to their habits, desires, behaviors, beliefs, and features.
5. Unless Nivea were to follow a strategy of market expansion, it will have to maintain a lower price than its rivals. Based on the reduced cost, the company will be able to dominate the market. Executives will also be prone to possible retaliation by competitors in the context of an unexpected trade war.

 selecting a subscription model would entail a clear differentiation on the basis of interaction and whether the variance supports it.

6. Potential customers do not just want to know the tag, but the actual value associated with the purchase, use and disposal of the product.

Place/Distribution

This dimension of the marketing strategy allows Nivea to take some critical decisions when planning its logistics plan. It s going to assess and then decide:

Whether the company wants to make the product accessible to different customer segments through its networks or needs a distribution network to meet the demands of customers.

If the distribution is primary (without any intermediary involved) or secondary. When the distribution channel method is applied, the number of intermediaries (wholesalers, distributors, etc.) must be selected.

Modern consumers attach great importance easy availability. Choosing right distribution networks would allow Nivea to:

First, consider the significance of the brand. The use of different channels in the selling of vital goods would not be a smart step if the commodity were to perish.

Analysis of market dynamics, customer expectations and own resources and power. If customers put a great deal of focus on customized services and tend to shop from physical retailers rather than online sites, when the business already has ample resources to expand its outlets, the product mix will be precisely measured.

The distribution systems of the rivals would need to be studied. A detailed cost cutting analysis of each network and compatibility with its own expertise and competencies will allow Nivea to establish an effective distribution plan for this.

Promotion

It is one of Nivea s most typical Marketing Strategy components. Nivea shall merge the marketing activities near the outer path to ensure its advertising objectives. TV, radio and print ads are the above line marketing choices for Nivea. Just under the choices for line strategies include catalogues, industry events and email marketing (Wu, Y. L., and Li, 2018).

Segmentation, Targeting and Positioning

The study and creation of segmentation techniques by consumers synchronizes. Nivea will use the details from the consumer data analysis to build the tactics for segmentation, targeting and positioning as below:

Establishing the Nivea marketing plan demands that segmentation context be established to understand customers purchasing behavior. Customers expectations, aspirations and purchasing actions are monolithic and rely on highly complex factors such as:

Using the strategy of segmentation, Nivea may segment down the broad, differentiated potential customers into different, strictly focused segments. Product differentiation studies are standard source of obtaining the customer specific data that might be used to build communities that hold similar functional.

Nivea will divide the market into small homogeneous classes, after knowing the purchasing behavior of consumers and having the necessary information through surveys. This can be achieved by analyzing the clients regional, economic, social and artificial intelligence. The organization should choose the appropriate customer segments and develop a successful marketing plan using one or more of these segmentation strategies (Camilleri, 2018).

1. Divides the market by geographic area, such as town, country and region.
2. Market segmentation would allow Nivea to separate the market by population, gender, age, income, and nationality patterns.
3. When Nivea prefers consumer differentiation, consumers would ve been separated by their purchase behavior such as frequency use and, preferred rewards, usage benefits and brand recognition

Use psychographic segmentation can proceed to classification of consumers related to their habits, desires, behaviors, beliefs and features.

As discussed in the next section, Nivea may combine the various segmentation strategies for more precise targeting

Targeting can be done by assessing the market appeal and upside ability of established groups. Nivea could choose one or more sections, based on the characteristics of the portions and the capital, capabilities and objectives of growth of the organization.

The market attractiveness and expansion potential within each section can be assessed by using measures below:

1. Segments identified are of the reasonable size.
2. Do have distinct changes.
3. The revenues projected will fulfill the actual marketing cost.
4. Segments are within approach.

Create Nivea marketing campaign alignment Statement by answering the following research questions:

1. What does your label stand for?
2. What are your target consumer needs and wants?
3. Why does the brand cater to those requirements?
4. How is your product different from competitors?

Solutions to these problems should provide adequate details to shape a positioning comment. Comparing their interaction and networking approaches with competitors will expose the possible areas that could be addressed with focused placement notifications.

Recognize product strengths / weaknesses by contrasting it with rivals to find out the deficiencies that the company offered will cover. Study of competition position and evaluation of own global marketplace.

Using empirical data obtained from a specific market, consumer and competitor surveys establish a promotional strategy and check its efficacy annually by obtaining empirical and competitive data (Andaleeb, 2016).

Role of Branding in Positioning Products/Services

Nivea Marketing Strategy’s advertising strategy allows the company to consider the following factors:

1. Initiate with explicitly recognizing the significant marketing plans, and realize why the commodity is required by consumers and how it is unique from the rivals in the market
2. Creates the quality of the communication and determines how the message created can help consumers develop a visual picture of the commodity delivered. Remember AIDA (consciousness, desire, might, action) when designing the text.
3. Unless the company wishes to sell the product, advertising tactics such as direct sales or high profile commercials will suit you. Direct marketing will, however, require the development of a respectable brand name that would draw customers to the products offered.

Generate the following information about the target viewers who would procure the commodity? (Age, class, socio economic status), what extent of growth potential? So what modes of contact do customers need? Include the specifics in the marketing campaign.

Filter the motivational factors that affect the evidence provided above and conduct a cost benefit analysis of the listed strategic substitutes. Selecting TV advertising as a marketing tool, for example, will make it possible for the company to enter the target audience and boost brand awareness. This is also an expensive promotional tactic and works if the company has enough resources.

• Over the last few years, the influence of social media marketing has risen exponentially. Use of this branding campaign will allow Nivea to commercially enter the target markets. It would also provide a way to interact effectively with consumers, build a customized connection and control e WOM in attempt to generate improved outcomes. Yet there s always the possibility of uncontrollable negative e WOM.
• Eventually, acknowledge the value materialism and assign expenditures to pick marketing strategies by design, value, and speed (, et al, 2019).

Consumer Analysis

The creation of effective marketing hybrid strategies relies on understanding. Nivea has a potential pool of customers. The strategies are going to be more effective. He knows his client s needs and desires, his expectations and his attitude. Descriptive data leads to understanding the forms or categories of the consumer groups.

They face problems due to unexpected needs and preferred approaches will grow the persona consumer. Vital components included in customer growth are:

1. Then Nivea Demographic details (for example, sexuality, family, generation, and location)
2. Referred means of contact.
3. Feasible contributors (journals or famous people they obey.

Marketing Mix and Market Communication

Company’s competitive advantage in the marketing strategy of the Nivea: Survival in the highly competitive market demands that Nivea lay the strong foundation for differentiation which could provide advantage over its competitors. The Advertising Plan for Nivea will concentrate on finding special sales proposals (USPs). Many examples of USPs are the best quality, lowest cost or originality of the concept.

The Nivea can apply Porter s standardized model of tactics to investigate how one can establish competitive advantage. The Porter Model can be used effectively to target specific consumer segment below strategies can also be used.

1. Cost based competitive advantage
2. Differentiation based competitive advantage
3. Competitive advantage model.

Using the above strategies Nivea can manage the marketing mix strategy in order to grow more effectively with more profits (French, 2017).

 References

1. Kotler, P. T. (2019). Marketing management. Pearson UK.
2. Di Benedetto, C. A., and Lindgreen, A. (2018). The emergence of Industrial Marketing Management as the leading academic journal in business to business marketing. Industrial Marketing Management, 69, 5 12.
3. Išorait?, M. (2016). Marketing mix theoretical aspects. International journal of research granthaalayah, 4(6), 25 37.
4. Wu, Y. L., & Li, E. Y. (2018). Marketing mix, customer value, and customer loyalty in social commerce. Internet Research.
5. Camilleri, M. A. (2018). Market segmentation, targeting and positioning. In Travel marketing, tourism economics and the airline product (pp. 69 83). Springer, Cham.
6. Andaleeb, S. S. (2016). Market segmentation, targeting, and positioning. Strategic Marketing Management in Asia, 179 207.
7. Iyer, P., Davari, A., Zolfagharian, M., and Paswan, A. (2019). Market orientation, positioning strategy and brand performance. Industrial Marketing Management, 81, 16 29.
8. French, J. (2017). The importance of segmentation in social marketing strategy. In Segmentation in social marketing (pp. 25 40). Springer, Singapore.