Introduction
An extensive marketing plan is required before releasing the product to the mass market. A successful marketing strategy might provide the business with a strategic advantage against its opponents and secure its prosperity (Keller, 2016). Devising a marketing campaign for an improved “Pro Filt’r Soft Matte” skin foundation created by Fenty Beauty is necessary for the product’s affluence. In this work, a strategic marketing plan for the Fenty Beauty skin foundation will be proposed, and the implementation of the integrated marketing communications (IMC) approach will be discussed.
Product Description
The new skincare line suggested for release employs the concept previously presented by Fenty Beauty, which specializes in the production of merchandise used by people of various appearances and social statuses. Even though the “Pro Filt’r Soft Matte” skin foundation is currently highly successful, it is not suitable for women with oily skin. This marketing plan considers advertising a finished product for such individuals. Additionally, the new cosmetics line will be superior in duration compared to the original one.
Mission Statement
Providing a detailed statement for the desired outcomes is an essential part of the product’s presentation. Comprising a successful business statement involves several vital characteristics, such as the product’s purpose and the vision for its development (Salehi-Kordabadi, Karimi, & Qorbani-Azar 2020). The skincare merchandise analyzed in this work is intended to aid individuals with oily skin to enhance their appearance and present them with an opportunity to obtain a blemish-free facial tone.
Establishing attainable goals is one of the pertinent features of mission objectives’ design. Therefore, the proposed marketing aims for the product presented include achieving the same profitability level as the original skin foundation that this project is based on within one year of launching (IšoraitÄ—, 2016). After that, it is necessary to gain a market share percentage equal to those occupied by the same products distributed by other companies in this industry, such as Maybelline and Shiseido.
Target Market
Outlining the profiles of potential customers is another crucial step in the development of a suitable marketing plan. Multiple individuals suffer from oily skin problems, which can be caused by various factors and envelope various social and age groups (Endly & Miller, 2017). According to these facts, this marketing campaign’s clientele will primarily focus on including people of male and female gender from the ages of 14 to 65. The product devised can be used by individuals at home and large corporations providing treatment to their clients, contributing to the substantial purchasing power.
Competition
The competition’s primary sources will be similar skincare companies providing the same target groups with such treatment, for example, Maybelline, Shiseido, and Giorgio Armani. These organizations are considered the most profitable skin foundations suppliers, occupying a large number of market shares. However, it is possible to overcome these providers by following the most relevant trends in this sphere. The most prominent trend that could be utilized is the process of addressing celebrities and actors and communicating with the target groups directly (Valos et al., 2017). It will be necessary to underline the fact that Fenty Beauty was founded by Rihanna and to promote the efficacy of the foundation by stating the problems that the focus audience encounters.
Product’s Features
Most marketing campaigns in the skin foundation area concentrate on these products’ availability for individuals with various skin tones. Although it is indispensable to comment on these characteristics, it is also required to consider the target groups’ physical qualities. Scientific research into the issues connected with oily skin argues that high-quality treatment is needed to solve the problems associated with this type of appearance (Endly & Miller, 2017). Thus, it is prominent to indicate that people suffering from oily skin complications can use the proposed product.
Another incremental trait of the foundation design can be implemented in its marketing strategy. The requirements for make-up tools and lotions are incredibly time-specific at the present period, requiring different qualities (Yang & Lee, 2016). This project’s uniqueness is partially based on its enhanced duration properties, meaning that its use will be more efficient. Smaller quantities of the foundation can be applied, thus saving effort and money for the potential customers.
Core Strategy
Communications and Promotion
The marketing scenario for this product includes the implementation of the marketing mix elements. The development process examines advertising, direct marketing, sales promotion, public relations, and personal selling (Naumovska & Blazeska, 2016). Advertising pertains to creating a brand image that will provide the customers with sufficient information about the merchandise and persuade them to purchase it (Naumovska & Blazeska, 2016). However, limited feedback from potential clients is available.
As for direct marketing, this approach entails straightforward company-to-customer communication, such as emailing particular individuals (Naumovska & Blazeska, 2016). This strategy lacks an understanding of the concept of advertising, which is an essential part of brand perception (Naumovska & Blazeska, 2016). Considering sales promotion, this mechanism can be described as incentivizing the potential buyers via additional programs (Naumovska & Blazeska, 2016). Such actions can be highly beneficial as they address both the consumer and trade firms, but these promotions are much less efficient during long-term campaigns.
Negating the disadvantages of sales incentives is possible through public relations development. This process is directed at sustaining harmonious relationships between the clients and the corporation (Naumovska & Blazeska, 2016). Apparent issues with this process are its complexity and unpredictability. Finally, personal selling can be utilized to interact face-to-face with the buyers (Naumovska & Blazeska, 2016). Although this approach can be described as the most personalized, it is only useful with smaller numbers of customers.
For the strategic plan proposed, it is most advantageous to reject personal selling and direct marketing. These mechanisms can only be profitable with a smaller audience (Keller, 2016). As stated before, Fenty Beauty addresses an extensive range of customers, so it would be prominent to involve advertising and sales promotion features. If the product develops and achieves a higher amount of sales, it will be necessary to start controlling public relations.
The message communicated through the compound release will state that it is imperative to support the audience with problematic skin. Presenting search customers with a more straightforward solution for oily skin issues might strengthen their trust in the organization, directly addressing this group. Interaction with the target market will be implemented through the use of digital media.
This niche appears to be highly lucrative in the modern environment, as it entails various sources and platforms that allow direct contact with the audience (Jackson & Ahuja, 2016). The most prominent venues are Instagram and Facebook for younger age groups and YouTube and Twitter for older generations (Ortiz-Ospina, 2019). Customers expectations will be assessed on the channels related to oily skin complications.
The most suitable method for measuring the campaign’s effectiveness achieved could be questionnaires designed to ascertain the customer perspectives. Considering that this compound is intended for specific individuals, the same target audience should be asked to participate in the effectiveness measures (Thabit & Raewf, 2018). Utilizing questionnaires to examine the client levels of campaign understanding and the degree of satisfaction might provide further insight into social expectations.
Price
Given that this product is based on similar merchandise, it is necessary to explore the price compared with other brands. Even though some of the foundations for oily skin provided by competitors retain relatively low prices, it is essential to relay the product’s quality through its cost (Jowett et al., 2020). The new compound will start at $39, which is $4 higher than the base foundation and more expensive than the other companies’ options.
Channels of Distribution
The channels of distribution chosen for this product will be comprised of online markets and retail stores. It is common for cosmetics brands to be presented by various cosmetics stores simultaneously (Jowett et al., 2020). Such a method allows the clients to compare the compounds available and to choose the most reasonable pricing. Thus, this foundation will be distributed through the retail organizations that have already signed a contract with Fenty Beauty. As for the online markets, their significance is remarkable due to the recent web purchasing trends.
Customer Management
As these compounds relate to the same organization, customer relationships should be handled according to the existing rules. Managing these relations should be attempted by sustaining a positive public image of the company and social expectations construction (Naumovska & Blazeska, 2016). Providing immediate client care can be achieved by using online services and support systems that can be accessed by any individual from various locations.
Conclusion
To conclude, a strategic marketing plan for the new Fenty Beauty product was proposed in this work. The enhanced compound will target a specific customer group suffering from oily skin complications. The marketing mix strategy elements were thoroughly discussed, and three out of five communication mix strategies will be implemented and the suggested campaign. Finally, technological advancements of the current age, such as online marketing, will be utilized.
References
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