Hong Kong and Canada are expected to marginally increase stakeholder value. As well, the company plans to open 120 new stores in four regions. Current Marketing Strategy. The Body Shop employed a "green marketing" strategy to build customer base in the market by help of publicity. The Body Shop considers the most efficient way of advertising through using its shops and staff. By using the shop windows company runs posters and by using the staff informs their customers.
One of core company objectives is to move the brand to a "mastitis" positioning (Mass-market combined with prestige). Opportunities for Expansion. The worldwide cosmetics and toiletries market has a remover in excess of $80 billion (with 3. 1% annual growth) dominated by major companies like Proctor and Gamble, Milliner, Shied, L'Oreal, Avon and Revolve. Even though competition levels are high there is a high growth potential for male grooming products in I-J, USA and Europe.
Order custom essay Body Shop Marketing Plan with free plagiarism report
The Body Shop manufactures, and markets a range of over 600 products and approximately 400 accessories. The company sells a wide range of high quality values-driven health and beauty products as shampoos, bath products, soaps, skin creams and conditioners, beauty related accessories, special children's and men's toiletry ranges, perfumes and seasonal products. The company also sells a line of cosmetics. None of the company's products are tested on animals, and many of the company's stores offer recycling facilities.
The Body Shop develops trading relationships with communities in need and company's ultimate goal is to be socially, environmentally and economically sustainable. The company operates through a number of retail formats including stores in railway stations, units in large shopping malls, town center stores and airports. It has grown through the opening of franchises. The Body Shop International operates company owned stores in the I-J, the US, France, Germany and Singapore, with the remaining 45 markets owned and operated by independent franchisees. The company had global retail sales of IEEE. Mm in year 2005 and profit before taxation of $36. Mm.
First mover advantage:
- Strong product development Strong Brand Name
- The Body Shop at Home
- Trade Not Aid program First mover advantage
The company was the first to manufacture and market naturally inspired skin and hair care products. The company also revolutionized the concept of ethical treatment of animals by not testing cosmetics and other personal care products on animals.
Though the company's concept was copied by other competitors in the years to come, the company still retained high brand recognition and the first mover advantage. Strong product development The company has a strong product development program which enables it to maintain a healthy pipeline of products. The company built on the success of its ingredient-led Bath and Body range with the extension of the range into new variants such as Ultra Smooth Face Base, Global Fragrance collection; and the New Everyday Aromatherapy range.
Strong Brand Name
The name of The Body Shop has strong loyalty from its customers and worldwide recognition for its commitment to the environment and its superior products. The Body Shop at Home Home selling has proven to offer great synergy with the store-based business and to be highly successful in the UK and US and in Mexico. "Trade Not Aid" program The company has a unique procurement program that provides it access to low cost raw materials for its products as well as ties up with its corporate social responsibility program.
The company purchases such ingredients as blue corn from the Pueblo Indians in New Mexico and Brazil nut oil from the Kapok Indians of the Amazon River Basin, and thus proves to be beneficial socially and cost-wise. The company has been charged with exploitation and deception by selling products that were not "all-natural" and goods with ingredients that were, at some point, tested on animals. The company was charged with making false claims about its products and thus misleading the customers.
The company lost face in front of its loyal customer base who endorsed the company's ethical stance about natural ingredients and non-testing on animals. Franchisee problems The company's business has primarily been based on franchising. As the company banks heavily on loyal customer base who expect uniform ambiance, quality and service in all Body Shop outlets, the company is highly dependent on the performance of its franchise stores. The performance of the franchisee stores has deteriorated over the last several years ND there have been numerous customer complaints about poor quality and service in these stores.
on Body Shop Marketing Plan
The cosmetic products offered by Body Shop will be beneficial for every segment of the market. Reason is that Body Shop designs its marketing strategy, keeping in view the niche sectors of the market. Body Shop will use its products made from natural ingredients and plants, to position itself as a nature friendly organizations.
Products are also sold via the Body Shop at Home, an in-home sales program that operates in 48 US states and Australia and via a company website in the US. In order to increase marketing share in a current market, companies must carefully examine a host of issues. One of the most important issues is the marketing environment.
Email marketing and social media are the two main ways The Body Shop drives traffic to its 120 U.S. (3,000 global) stores, says GM Andrea Blieden, as it keeps an eye on voice and on-demand. Cosmetics and skincare retailer The Body Shop has been carefully refining its marketing over the past year.
It currently has a product range of over 1,000 skincare, haircare, makeup and body products. These all have an amazing smell with endless options and scents. The Body Shop sells their products in over 3,000 stores located in the UK and internationally in 66 countries which are owned and franchised.
Did you know that we have over 70,000 essays on 3,000 topics in our database?