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Situational Analysis

Discuss about the Superior Business Performance Through the Intelligent Marketing.

The nature as well as the style of working of the various business enterprises of the contemporary times has undergone a stark level of change on the score of various factors like globalization, the ever increasing level of competition in the business market, the use of innovative as well as strategies and others (Wu & Lee, 2016). Thus, it becomes very important for the business enterprises of the present times to undertake a detailed market as well as situational analysis of the business environment in which they are operational and at the same time to understand the needs as well as the requirements of the customers in the best possible manner.

The company Nativo Skin Care, founded in the 1960s has within a very short period of time has emerged as one of the major business enterprises of the continent of Asia (Nativo, 2018). The company is based in the nation of Singapore and provides various kinds of skin care as well as beauty cosmetics to women and men alike (Nativo, 2018). The primary reason for the success attained by the company in the recent times is generally been ascribed to the strategy of cost leadership as well as product differentiation which the company has been following ever since its initiation. The basic idea behind the use of these strategies is to provide quality products to the customers at very affordable prices and thereby to capture the market. The primary focus of the company is on the women belonging to the age group of 25-55 (Nativo, 2018). However, in the recent times it is seen that the company has also launched a few products which caters to the needs of men and also the females belonging to the teenage category (Nativo, 2018). Some of the likely competitors of the company under discussion here in the continent of Asia are Su Man – Taiwan, Shiseido – Japan and others (Nativo, 2018).

A SWOT analysis of the Nativo Skin Care Company would reveal the following facts-

Strength

· The primary strength of the company can be said to be insistence on the use of biological as well as safe products for the manufacture of the products sold by them (Chernev, 2018).

· The positive brand image as well as the long history of the company.

· The use of strategies like cost leadership and product differentiation.

Weakness

· The sole dependence on cosmetic products and not providing spa and other facilities to the customers.

· Primary focus on the female gender for the manufacture of their products.

Opportunity

· Manufacturing of products keeping the male gender as target customer base.

· In addition to cosmetic products the company can provide other recreational facilities to the customers like spa and others.

Threat

· Treat from rivals.

· Threat from chemically manufactured cosmetic products which are being sold at much lower price.

A PEST analysis of the company under discussion here would reveal the following facts-

Political

· In terms of political system, the nation of Singapore is one of the most stable ones and the government of the nation takes active initiatives for the promotion of trade and commerce (Chernev, 2018).

Opportunity: This particular fact actually acts as an opportunity since by utilizing the stable political environment of the nation the company can further enhance the prospects of its business.

Economic

· The economy of Singapore is one of the most booming ones of the world and the economic recession from which the majority of the nations are still reeling has affected the nation in the least possible manner (Chan & Mansori, 2016).

Opportunity: The company can utilize the booming economy of the nation to its own advantage and offer a range of high quality products without having to worry about affordability.

Social

· The people of the nation or more precisely the women folk are various conscious about their looks and thus generally like to take the help of various kinds of cosmetic products.

Opportunity: The company can utilize this particular fact to offer a wide range of products as well as services to the customers.

Technological

· Singapore is a developed nation and has made significant strides in the technological area.

Opportunity: The company can take the help of the technological advancements of the nation to offer better quality of products to the customers.

The company under discussion here can take the help of various diverse kinds of marketing options in order to further enhance their business prospects. For example, the company can take the help of the concept of “greater market penetration” to reach out to a larger number of customers not only of the nation of Singapore but also of the other nations as well (Jayashree & Yang, 2015). The company can also focus on the male customers in order to earn a higher amount of annual revenue. Furthermore, the company can take the help of the concept of takeovers. This will not only help them to mitigate the high level of business competition faced by them but at the same time will help them to expand their business as well (Kotabe & Helsen, 2014). Another significant strategy which the company can take the help of is franchising and new business ventures. This particular strategy is likely to help the company to open their business centers in the places where they are not operational at the current moment and thus is likely to help them in the process of expansion (Weinstein & Pohlman, 2015).

SWOT Analysis


The case study clearly indicates various kinds of marketing opportunities which are available to the company. For example, the company can take the help of the process of the changing preferences of the customers. It is generally seen that the amount of choices which are available to the customers in the present times have increased in a significant and thus they generally opt for the best quality products which are available at low prices (Moore et al., 2015). The company can utilize this particular marketing opportunity to provide low cost high quality products to the customers. Another marketing opportunity which is available to the company is to take manufacture products which are natural and free from chemicals as well as alcohol (Moore et al., 2015). The company in order to take advantage of the first marketing opportunity that is the changes in the preferences of the customers can take the help of the strategy of cost leadership (Baker & Saren, 2016). It is significant to note that this particular strategy is in alignment with the strategy goal of the company and following this particular strategy the company provides high quality to the customers at very affordable prices. The company can take the help of the second marketing opportunity is the strategy of product differentiation. The company can offer high quality products to the customers which are in a way different from the ones offered by the other companies and also the products will not depend on the use of alcohol or chemicals for their manufacture (Nordhielm et al., 2014).

The identification of the marketing opportunities as well as strategies is just the first stage since the company after the identification of these the company needs to allocate adequate amount of resources and expertise for the effective utilization of them (Nordhielm et al., 2014). For example, to follow the strategy of cost leadership the company will need to develop effective supply system which will deliver low cost raw materials to it on time and will also need the help of effective supervision as well as intervention on the part of the management team of the concerned organization (Bagozzi et al., 2018). Furthermore, for the implementation of the second strategy that is product differentiation the company will have to take the help of the recent technologies for the manufacture of products which are made from natural ingredients and free from chemical (Kleinaltenkamp, Plinke & Geiger, 2016). Moreover, the company is also required to develop and invest in various research and development projects to come up with options for the manufacture of better quality low cost products.

PEST Analysis

The marketing opportunity identified for analysis in this particular is the “changing preferences of the customers”. A SMART template has been attached below which will show the means which the company can follow for the achievement of this particular objective-

Specific

The specific goal which the company is trying to achieve is to take advantage of the changing preferences of the customers. For the attainment of this particular goal the company will pursue the strategy of cost leadership by means of which it will offer high quality products to the customers at very affordable prices.

Measurable

An increase in percentage of the sale of the products offered by the company would be an indicator of the achievement of this particular objective outlined by the company.

Attainable

The goal which the company has set out to achieve is a completely attainable one although it is likely to take a reallocation of the resources as well as the expertise associated with the company.

Relevancy

The goal under discussion here is a completely relevant one as it is not only likely to help the company  to enhance the annual profit gained by the company but at the same time will help it to have a larger customer base.

Time

The time frame which the company can set for the achievement of this particular goal would be approximately one year.

Product

The products which the company under discussion here offers to the customers belong to the category of the cosmetic products. The best part about the products which are being offered by the company to the customers is the fact that all the products manufactured by the company are from natural sources with no use of chemicals or alcohol in it (Nativo, 2018). Although the major focus of the products offered by the company is on the women folk belonging to the age group of 25-55 however in the recent times the company is offering products which take into consideration the interests of the male gender as well and also the females belonging to the teenage age bracket (Nativo, 2018).

Price

The price which the customers need to pay for the cosmetic products offered by the company under discussion here is lesser in comparison to the price of the same kind of products offered by the other companies operational in the same industry. This particular fact can be seen as a reflection of the cost leadership strategy which the company follows for the process of their business operation.

Place

The company under discussion here is based in the nation of Singapore and mainly caters to the cosmetic needs of the people living in this particular nation. However, the products manufactured by the company is also being exported as well as used by the people belonging to the other nations of Asia.

Promotion

The company under discussion here takes the help of various kinds of promotional strategies including the traditional and the modern methods. Thus, for the process of promotion of the products offered by them to the customers the company advertises in newspapers, television, radio and others and also takes the help of various online platforms including social media for the purpose of promoting the products offered by them to the customers (Nativo, 2018).

Company

· Goals and Objectives: The goal of the company is to become the global leader in the genre of cosmetic industry and the objective by means of which the company intends to achieve this particular goal is by providing high quality naturally made products to the customers at very affordable prices (Nativo, 2018).

· Position: The company under discussion here is one of the global leaders in the genre of cosmetic industry and is known for the quality of the products as well as services which it provides to not only the people of the nation of Singapore but also to customers from the different parts of the world as well. The company follows the strategies of cost leadership and product differentiation for the process of business operation.

· Performance: In the last decade the company has been able to increase the sale of the cosmetic products offered by them to the customers by nearly 10% (Nativo, 2018). The company has been able to achieve this success through its focus on enhancing its customer base rather than focusing on enhancing the amount of net profit gained by them. Thus, within a very short time the company has been able to monopolize the cosmetic market of the continent of Asia.

· Product line: The company under discussion here specializes in offering cosmetic products to the customers. The primary focus of the company is on the women folks belonging to the age range of 25-55 however in the recent times the company has launched a wide variety of products that focuses on the male gender and also on the teenagers (Nativo, 2018). The products offered by the company have been able to attain a significant amount of appreciation by the customers from the different parts of the world.

Competitors

The company under discussion has a number of competitors like Su Man – Taiwan, Shiseido – Japan and others which are operational in the same field of business (Nativo, 2018). In addition to these major ones it is generally seen that a large number of start-up companies emerge every year in the business market and they pose a significant amount of threat to the company. Furthermore, the use of innovative strategies and also the wide range of products which they offer to the customers pose a significant amount of threat to the company under discussion here.

Customers

The primary customers of the company under discussion here are the women folks belonging to the age bracket of 25-55. The company also provides a wide range of products to the men folks as well as the teenagers.

Collaborators

The major collaborators of the company are the suppliers, distributers as well as the various agencies which are associated with the company (Nativo, 2018). These collaborators are not only imbued with the role of procuring the raw materials for the company that are essential for the manufacture of the products offered by the company to the customers but also for the delivery of the finished products to the customers.

Climate

As the PEST analysis given above indicates the business environment of the nation of Singapore is a very suitable one for the cosmetic business operations of the company under discussion here.

The relevant marketing tactics which the company under discussion here can take the help of are given below-

Marketing Tactic

Budget

Cost/ Benefit Analysis

Promotion of products offered by the company using the Social media and other electronic platforms

$10,000

The customers will be able to know about the products offered by the company in a much better manner and thus the chances will be high that they would opt for the products offered by the company.

Use of the concept of ethical consumerism for the manufacture of the products offered by the company to the customers.

$50,000

The customers have become more conscious about the manner in which the products are being manufactured and this will enhance the sale of the products offered by the company.

Use of CSR activities to enhance the brand image of the company

$30,000

Customers in the present times have become much more conscious about the brand image of the companies and thus the creation of a positive image is likely to boost the sale of the products offered by the company.

The below given risk analysis table gives an overview of the various risks which the company is likely to face or is facing at the current moment, the impact of the risk and also the manner in which they can be mitigated

Risk

Likelihood

Consequence

Treatment

Risk from the use of toxic or unhealthy materials for the manufacture of the cosmetic products

Rare

Catastrophic

Inspection and proper testing of the affects of the materials which are being used for the manufacture of the products.

Risk of chemical injury to the workers during the manufacture of the products

Likely

Major

Practice of effective safety and health measures.

Marketing Tactic

KPI

Timeline

Responsible Persons

Feedback

Adjustments

Promotion of products offered by the company using the Social media and other electronic platforms

To increase the sales by almost 10%

6 months

Media managers, sales teams, regional managers and others

The feedbacks would be gathered over the social media and other forms of electronic media. In addition to this, the company will also take the help of surveys and questionnaires

The increased focus of online promotion is likely to boost the sales of the products. Presently, it is seen that the customers opt for a product after they are satisfied by reading their online review. Thus the company will use this particular psychology of the customers to boost their sales.

Use of the concept of ethical consumerism for the manufacture of the products offered by the company to the customers.

Getting quality certificates from ISO and others

3 months

Quality team, regional managers, manufacturing team and others

The feedback will be provided by the quality analyst

Focus on quality will help the company to outrival their competitors and boost their sales

Use of CSR activities to enhance the brand image of the company

Organization of a youth event

1 month

Media manager, operation manager and others

The feedback will be provided by the media manager

The event will help in the creation of a positive brand image for the company

Stakeholder

Message

Method

Person Responsible

Time

Implementation of feedback

Customers

Launch of a new product

Social media communication

Media Manager

1 month

The company will try to modify the product as per the feedback of the customers.

Employees

Organization of a social event

Social media communication and putting up of a notice on the notice board

Media Manager

2 Weeks

The company will try to modify the schedule as well as the nature of the event as per the feedback of the employees

The review of the marketing objectives provided in the tables above is important before the actual implementation of them. The various marketing plans which are being developed by a particular company should be in synchronicity with the objectives as well as the vision of the concerned company and also the strategic goals followed by that particular company (Wheelen et al., 2017). Thus, it becomes very important to review the marketing objectives developed by a particular company. It is often seen that the marketing objectives developed by a particular company are on the basis of their current market position and also the needs of the business (Hill, Jones & Schilling, 2014). It is not necessary that they are in synchronization with the goals and vision of the company. Furthermore, if a thorough review is being conducted then it is likely that if there are any flaws in the objectives or the tactics developed they would be found out at the very beginning itself and this would save the company not only valuable amount of time but also a lot of valuable resources as well (Kotler et al., 2016). Moreover, if the flaws or the defects of the plans are found out after the process of implementation then that causes wastage of the resources of the company and also its valuable time as well. In addition to these, a thorough review of the marketing objectives also allows a particular company to add the things which it feels is important and at the same time enables them to formulate effective implementation strategies as well (Kotler et al., 2016). Therefore, it would be apt to say that a thorough review of the marketing objectives is very important for the various companies because of the above mentioned benefits. In addition to these, it is also very important that the objectives developed should be in synchronicity with the intended marketing targets of the concerned company. For example, in the case of the company Nativo Skin Care the intended target customer base is the women population of the nation of Singapore belonging to the age group of 25-55 and thus it is important that the marketing objectives developed by the company should appeal as well as be relevant to the needs and the requirements of this particular section of the population.

Marketing Opportunities and Strategies

Conclusion

To conclude, the competitive world of business has made it imperative for the various business enterprises to take into effective consideration the needs as well as the requirements of the customers in the most effective manner. Thus, it becomes very important for the business enterprises of the present times to undertake a detailed analysis of the business environment and an analysis of the needs of the customers and design the products or the services offered by them to the customers in the likewise manner. The companies at the same time need to identify the marketing opportunities which are available to them and develop effective marketing tactics in the likewise manner which is likely to further enhance the prospects of their business.

There are various legislations as well as regulations which the various organizations need to take into consideration during the development of their marketing plans. Three of the most important ones which the organizations need to take into effective consideration are listed below-

  • The Anti-Discrimination Act 1991 is one of the most important legislations which the various organizations need to take into effective consideration during the development of their marketing plans (Moore et al., 2015). For example, the organizations need to take care that the products or the services which they are offering to the customers or the advertisements which they are using promotional purposes is not causing any kind of discrimination or racism of any kind whatsoever.
  • Corporations Act 2001 (Cwlth) is another important legislation which the organizations need to take into effective during the development of their marketing plans. This legislation lists all the important factors which the organizations need to take into effective consideration regarding the products which they are offering to the customers and also the marketing strategies that they are using for the same (Weinstein & Pohlman, 2015).
  • Pricing Regulations are another example of regulations which the various organizations need to take into effective consideration for the development of their marketing plan (Baker & Saren, 2016). The prices of the products set by the companies should be in synchronization with the guidelines given by the governmental authorities.

The stakeholders form one of the most important entities of any business enterprise and thus taking into consideration the requirements as well as the interests of the stakeholders is very important for them (Nordhielm et al., 2014). It is a reflection of this particular fact that the various business enterprises from time to time take the feedback of the stakeholders who are associated with them. The business enterprises also needs to integrate the feedbacks provided by the stakeholders into the framework of their enterprise and also to modify the products or the services which they offer to the customers on the basis of the feedbacks provided by the stakeholders to them (Nordhielm et al., 2014). In addition to these, the enterprises also need to take care that the marketing as well as promotional plans developed by them are appealing as well as enticing for the stakeholders and do not hurt the sentiments or the feelings of the stakeholders. More importantly, the business enterprises for the development of the products as well as the marketing plan need to take into effective consideration the needs as well as the requirements of the stakeholders in the best possible manner.

The best organization can take the help of the strategy of “Innovative Value Chain” if there is a gap between the current capabilities of the organization and the marketing tactics developed by the organization (Bagozzi et al., 2018). The particular strategy will help the concerned organization to take the help of the process of innovative ideas to gulf the bridge which exists between the current capabilities and the marketing tactics adopted by the organization.

References 

Aghazadeh, H. (2015). Strategic marketing management: Achieving superior business performance through intelligent marketing strategy. Procedia-Social and Behavioral Sciences, 207, 125-134.

Bagozzi, R. P., Rosa, J. A., Celly, K. S., & Coronel, F. (2018). Marketing-Management. Walter de Gruyter GmbH & Co KG.

Baker, M. J., & Saren, M. (Eds.). (2016). Marketing theory: a student text. Sage.

Burns, A. C., Bush, R. F., & Sinha, N. (2014). Marketing research (Vol. 7). Harlow: Pearson.

Chan, Y. Y., & Mansori, S. (2016). Factor that influences consumers' brand loyalty towards cosmetic products. Journal of Marketing Management and Consumer Behavior, 1(1).

Chernev, A. (2018). Strategic marketing management. Cerebellum Press.

Foxall, G. (2014). Strategic Marketing Management (RLE Marketing). Routledge.

Hill, C. W., Jones, G. R., & Schilling, M. A. (2014). Strategic management: theory: an integrated approach. Cengage Learning.

Jayashree, S., & Yang, X. (2015). Firm's typology and strategic innovation among Chinese cosmetic industry-a strategic transformation tool. International Journal of Technology Management, 67(2-4), 132-147.

Kleinaltenkamp, M., Plinke, W., & Geiger, I. (2016). Business Relationship Management and Marketing. Springer-Verlag Berlin An.

Kotabe, M., & Helsen, K. (2014). Global marketing management.

Kotler, P., Keller, K. L., Brady, M., Goodman, M., & Hanser, T. (2016). Marketing Management, Harlow: Pearson Education. ISBN 978-0-13-385646-0.

Moore, R. S., Moore, M. L., Shanahan, K. J., & Mack, B. (2015). Creepy marketing: Three dimensions of perceived excessive online privacy violation. Marketing Management, 25(1), 42-53.

Mullakhmetov, K. S., Sadriev, R. D., Gabidinova, G. S., & Akhmetshin, E. M. (2016). Control in marketing-based management. Academy of Marketing Studies Journal, 20(2), 13.

NATIVO: NATIVO | Organic Skincare For Your HEALTH + BEAUTY. (2018). Nativo (Online). Retrieved from https://nativoskincare.com/

Nordhielm, C. L., Dapena-Barón, M., Elliott, G., Rundle-Thiele, S., Waller, D., & Cherian, J. (2014). Marketing management: The big picture. John Wiley & Sons.

Philip.; Keller Kotler (Kevin Lane.; Ang, Swee-Hoon.; Tan, Chin-Tiong.; Leong, Siew Meng). (2017). Marketing management. Pearson.

Weinstein, A., & Pohlman, R. A. (2015). Customer value: a new paradigm for marketing management. In Proceedings of the 1997 Academy of Marketing Science (AMS) Annual Conference (pp. 132-133). Springer, Cham.

Wheelen, T. L., Hunger, J. D., Hoffman, A. N., & Bamford, C. E. (2017). Strategic management and business policy. pearson.

Wu, P. T., & Lee, C. J. (2016). Impulse buying behaviour in cosmetics marketing activities. Total Quality Management & Business Excellence, 27(9-10), 1091-1111.

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