Marketing Plan Overview
The Eye2Go product’s three-year marketing plan will target the young and middle-aged customers since they are the majority users of the proposed eye makeup product. The three circles diagram, market share, sales, advertisement expenses, and gross margin are summarized below.We will write a custom Eye2Go Company’s Three Year Marketing Plan specifically for you
for only $14.00 $11,90/page 308 certified writers online Learn More
Table 1: Gross Margin and Net Contribution.
|Year||Gross Margin||Net Contribution|
Table 2: Sales.
|Year||Sales (unit)||Selling Price (UAD)|
Table 3: Advertisement expenditure.
|Year||Advertising Expenditure (UAD)|
Vision and Mission Statements
The company’s vision is to be the leading business in the beaty industry within the expansive UAE market.
The marketing environment in the UAE for company has been amenable to the affordable Eye2Go product. Besides, the eye makeup product guarantees unmatched comfort to the UAE clients. The company is interested in growing different brands out of the current Eye2Go product. Besides, the company has plans for rolling out an online store. Product marketing will be rolled out through social media and company website. In the next three years, the company targets to increase product visibility, distributing, and diversification in the UAE market.
Market Research Analysis
The objective of the digital marketing plan is to market the Eye2Go product in the expansive UAE market.Get your
100% original paper on any topic done
in as little as 3 hours Learn More
Population in the United Arab Emirates is one of the fastest growing in the world. Population increased from 1.0 million in 1980 to 8.4 million in 2010 (Cone, 2011). Projections made by the United Nations show that population will increase further to reach 15.5 million by the year 2050. In terms of sex, female population exceeded male gender in the United Arab Emirates in the year 2010. Therefore, the demand for the Eye2Go exists and is sustainable in the UAE market. This population increase will create demand for the Eye2Go. More female Eye2Go will be supplied in the market to match with the demographics.
The UAE is amongst the leading oil producers in the world. The recent rise in oil price has increased government spending. By combining the increase in government expenditure with a vibrant tourism, transport, and trade, the outcome is a favorable environment to conduct digital marketing (Blythe, 2006). For 12 months to May 2013, inflation rose by an average of 0.7% (Jin, Suh, & Donavan, 2008). An increase in government expenditure implies that there is more money in circulation and people can afford to buy the Eye2Go. It is expected that exchange rate will remain stable and so the need to introduce the Eye2Go this early.
Heritage and culture are valued by the targeted market. The United Arab Emirates is a diverse, multi-ethnic, and multicultural society, which makes it a perfect destination for the Eye2Go (Jin, Suh, & Donavan, 2008). High humidity and temperatures in the UAE mean that demand for Eye2Go for screening purposes is on the rise. Besides, Urdu, Arabic, English, and Hindi languages are spoken in the UAE. This makes it easier to tailor a marketing language. Considering that Islam is the main religion in the UAE, the Eye2Go will register a success. The nature of Islamic religion requires Muslims to attend prayers without excess makeup, which is why the Eye2Go will fit well in the region since it can blend with any skin color.
Social media such as Twitter and Facebook are currently the most utilized platforms and can be exploited positively to reach more customers in the UAE. This will not only control loses, but also give an accurate record of sales and projections (Dagnino & Rocco, 2009). Advent of computer scanners at retail checkout counters means that the supply of the Eye2Go product should be accompanied with barcodes. This will ensure strategic product positioning.
As a legal requirement, companies in the UAE are expected by the regulatory authorities to be tax compliant. The taxes are remitted directly to the government of Abu Dhabi. In the UAE laws on commerce, certificate of compliance to taxes are issued to businesses that remit their returns accurately form which taxes are deducted (Cheverton, 2004). The Eye2Go product complies with the above laws. This will create an easy environment for its introduction and marketing.
It is difficult for any aspiring beauty makeup company to enter into the industry in the UAE market and manage to breakeven easily. Given its unique product, reliable customer base, and a stable market niche, the Eye2Go Company has the capacity to offer the element of affordability to its customers (Farooq & Jan, 2012). The company is well positioned to survive in the competitive market through gaining from economies of scale and competitive price tags for the Eye2Go. Besides the company has a strong customer base in the UAE.
The customers for the proposed eye makeup product fall in the youthful and middle-aged segments. These two groups are spread throughout the UAE and have an active social media culture (Harris & Dennis, 2007). In order to remain relevant, the proposed Eye2Go product has to establish a unique ways of marketing the makeup product to the two customer segments. This will be achieved through tailored optometry and active internet marketing.We will write a custom
Eye2Go Company’s Three Year Marketing Plan
specifically for you!
Get your first paper with 15% OFF Learn More
Suppliers in the UAE beauty industry have more power owing to the existence of many companies. As a matter of fact, suppliers may instigate market demand and supply variances. This leaves the suppliers with the power to dictate on proceedings in the industry such as the price tags (Farris, Bendle, Pfeifer, & Rebstein, 2010). The proposed Eye2Go product has endeavored to use its deep reservoirs. This is as a strategy for balancing the supply forces in the fragile beauty market of the UAE.
The amount of output, in terms of turn over sales, depends on the buyers’ purchasing power. The higher the purchasing power, the better the turnover in total sales realized over a definite period of time (Ira, 2002). Fortunately, as established earlier, the high purchasing power in the UAE will ensure the success of the Eye2Go product (McKinney, 2005). The target male and female customers are spread across the UAE.
There are several media channels that are used actively to market products and services in the UAE. However, most of these channels are expensive due to the large fees they charge to market products in the UAE market. Due to the entry of technological advancement, internet has been the most common means of social media communication among the targeted customer segments. In fact, more than 59% of United Arabs Emirates families have access to the internet and are literate in its use (Al-Jenabi, 2008). Therefore, the Eye2Go will be marketed online since the targeted customers segments are active users of the internet. The internet media strategy will perfectly suit the UAE market where the Eye2Go product will be launched and promoted via social media and company’s website.
Three-Year Marketing Plan for the Eye2Go Product
The three-year marketing strategy entails active marketing the Eye2Go product to the young Saudis since this group has low expenses but with discretionary income and are very much interested in differentiated makeup products. Through the digital marketing strategy that stresses on proactive connection to fashionable lifestyle, the company will be in a position to penetrate this market without having to alienate its current base of customers (Jin, Suh, & Donavan, 2008). This group is ethnically diverse and consists of 25.19% of the UAE households and they frequent social media.
Prism Segment: Middle-aged customers
This group consists of middle-aged customers who consist of 32.39% of the total UAE households. This group has active online lifestyle and own majority of the smart phones and other electronic gadgets, which can access the internet. This group is ethnically diverse and has high disposable income (McKinney, 2005). Therefore, e-marketing strategies will be effective in reaching this segment.
Objectives of the Marketing Plan
The main objective of this marketing plan is to attract the younger customers’ market through the Eye2Go’s website and a twitter fun page in order to increase the customer traffic in its stores. The objective aims at packaging the Eye2Go as a favorite of the younger customers who frequent social media and actually share a common communication culture. The use of social media to attract this market segment is achievable since the target market frequents social media as a site for interaction and purchase of different makeup products (Stokes, 2011).
Customer retention and loyalty building
Properly modified website and the twitter fun page will reassure the customers on the quality of the Eye2Go being retailed online and at the Eye2Go stores. This will be achieved through optimization of the Eye2Go website’s search engine and improving on the visibility of its twitter fun page (Roberts, 2005).Not sure if you can write
Eye2Go Company’s Three Year Marketing Plan by yourself?
We can help you
for only $14.00 $11,90/page Learn More
Summary of the Marketing Objectives
|ObjectivesYear||Number of sales||Market share||Brand awareness|
Appropriate Digital Marketing Strategies
In order to increase credibility and maintain product visibility, the Eye2Go’s marketing channels will encompass processes and features that flawlessly facilitate a healthy lifetime relationship between the Eye2Go product and its clients in the UAE.
Search Engine Optimization (SEO)
Search engine optimization for the Eye2Go website can be achieved through installing plugins that possess extra features such as page navigation, thumbnail, and customized page numbers (Stokes, 2011). Specifically, this proposed system in Google will consist of a multi tab page that will serve different areas and services to online customers. The main categories may be makeup ordering menu, e-newspaper/magazines and brochures related to common brands of the Eye2Go, shopping (duty free) for customized makeup options, and a guide on cost for each type of the Eye2Go product. When implementing SEO in the Google search, it is necessary to revise the algorithms constantly for the search result of the Eye2Go website to remain at the top.
The SEO may also be tailored to include a unique cookie which is transferable to the users of the Eye2Go website. The unique cookie for the website will be transferred to all primary and secondary visitors of this site hence broadening the spread information on this website in the UAE. Optimizing the SEO has the potential of making the website go viral within six months since the unique cookie will spread to the primary and secondary users (Liu, Liao, & Peng, 2005).
Social media advertising
Social media, especially through Facebook and Twitter have gained popularity among companies and individuals who uses these sites as interaction modules to share experiences and exchange ideas in the UAE. In the e-marketing industry, social media has penetrated the communication environment and currently commands a large following among the users (Stokes, 2011). Reflectively, Facebook and Twitter are ideal tools for branding and community following building for the Eye2Go product in the UAE. Through ‘likes’ and ‘tweets’, the customer base for the Eye2Go will expand substantially over a short period of time. The tweeter and Facebook are ideal tools for branding and community following building for the Eye2Go product in the UAE (McKinney, 2005). This will allow people to interact and let users to add content to align to different orientations of Eye2Go product. The Twitter and Facebook fun pages will help the company to reach their customers by skipping or bypassing the traditional gatekeepers, such as written magazine publishers, and placing them online so that customers can get them directly (Stokes, 2011).
Benefits of the digital marketing strategies
The benefits of the digital marketing strategies are similar for SEO and social media marketing. The benefits range from increased product visibility, low costs, and increased customer traffic among other (Winchester, 2006).
Cost of Implementing the Marketing Strategy
Sales forecast and cost forecast
|Sales Forecast (UAD)|
|Direct Cost of Sales||2015||2016||2017|
|Subtotal Direct Cost of Sales||48,800||49,695||49,800|
The sales forecast is summarized in the graph below.
The cost forecast is summarized in the graph below.
Cost of digital marketing strategies
|Direct Cost of Sales||2015||2016||2017|
|Subtotal Direct Cost of Sales||38,800||39,695||39,800|
The cost of digital marketing is summarized in the table below.
Net Promoter Score
The promoters are assumed to be in the 9-10 (25%) score while the passives are assumed to be in the 7-8 (55%) score. The detractors are assumed to be in the 0-6 (20%) score. Thus, the Net Promoter Score will be +5 for the digital marketing plan within the UAE market. Therefore, the satisfaction score is estimated at 80% while the recommendation score is estimated at 70%. In addition, the social conversation score is estimated at 80%.
Market share table
|Market share growth||19.59%||21.3%||23.4%|
Al-Jenabi, B. (2008). Use of social media in the United Arabs Emirates: An initial study. Global Media Journal, 1(2), 3-27. Web.
Blythe, J. (2006). Essentials of marketing communications. New York, NY: FT/Prentice Hall. Web.
Cheverton, P. (2004). Key marketing skills: strategies, tools, and techniques for marketing success, Sterling. London, UK: Kogan Page. Web.
Cone, S. (2011). Steal these ideas: Marketing secrets that will make you a star. New York, NY: John Wiley & Sons. Web.
Dagnino, G., & Rocco, E. (2009). Competition strategy: theory, experiments and cases. New York, NY: Rutledge. Web.
Farooq, F., & Jan, Z. (2012). The Impact of Social Networking to Influence Marketing through Product Reviews. International Journal of Information and Communication Technology Research, 2(8): 627-637. Web.
Farris, P., Bendle, N., Pfeifer, P., & Rebstein, D. (2010). Marketing metrics: The definitive guide to measuring marketing performance. Alabama, AL: FT Press. Web.
Harris, L., & Dennis, C. (2007). Marketing the eBusiness, New York, NY: John Wiley & Sons. Web.
Ira, K. (2002). E-Marketing: What Went Wrong and How to Do It Right. Los Angeles, LA: K&A Press. Web.
Jin, H., Suh, J., & Donavan, T. (2008). Salient Effects of Publicity in Advertised Brand Recall and Recognition: The List-Strength Paradigm. Journal of Advertising, 37(1): 45-57. Web.
Liu, S., Liao, S., & Peng, C. (2005). Applying the technology acceptance model and flow theory to online consumer behavior. Information System Research, 13(2): 205- 223. Web.
McKinney, L.N. (2005). Creating a satisfying internet shopping experience via atmospheric variables. International Journal of Consumer Studies, 28(3), 268-83. Web.
Roberts, J. (2005). Defensive marketing: How a strong incumbent can protect its position. Harvard Business Review, 83(11): 150-210. Web.
Stokes, R. (2011). eMarketing: The essential guide to digital marketing. London, UK: Quirk eMarketing (Pty) Ltd. Web.
Winchester, M. (2006). Positive and negative brand beliefs and brand defection/uptake. European Journal of Marketing, 42(6), 553-570. Web.