Superior Business Performance Through Intelligent Marketing - A Case Study On Nativo Skin Care

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-

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

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-

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

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

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.

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