In: Accounting
EverGlad Bodycare was recently co-founded by two
Australian siblings who share a passion for
protecting our planet and being ethical consumers.
Ann and Oliver Jones, while pursuing their vocational education,
realised that people the world over
desire products that are not only good for them but also for the
Earth. They wanted to create a line of
skin and hair care products that used all-natural and organic
ingredients and were cruelty-free and
ethically sourced.
The brother-sister duo spent months reaching out to local producers
to understand which ingredients
could be locally sourced with ease. After much experimentation with
the various ingredients, they locked
in their formulae for five product lines: shampoo & conditioner
bars; hair masks; soap bars; body oils and
body scrubs. As Ann and Oliver want to use only the best and safest
natural ingredients, they realise that
their prices will be high initially, at least until they started
manufacturing on a much larger scale. Currently,
they expect to just sell in their home state of South
Australia.
As they have no prior business or marketing experience, they
approach you to be their marketing
consultant
Which targeting strategy would suit this brand the best? Why? (approx. 150 words)
Focus or concentrated targeting strategy would suit this brand the best, because in focus or concentrated targeting strategy
Several segments may be identified but a company may not serve all of them. Some may be unattractive or out of line with the company’s business strengths. A company may target just one segment with a single marketing mix. It understands the needs, and motives of the segment’s customers and designs a specialized marketing mix.
Companies have discovered that concentrating resources and meeting the needs of a narrowly defined market segment is more profitable than spreading resources over several different segments.
And in the above case also
Ann and Oliver Jones, while pursuing their vocational education,
realised that people the world over
desire products that are not only good for them but also for the
Earth. They wanted to create a line of
skin and hair care products that used all-natural and organic
ingredients and were cruelty-free and
ethically sourced so here they target just one segment with a
single marketing mix by understanding the needs, and motives of the
segment’s customers and designs a specialized marketing mix of
shampoo & conditioner bars; hair masks; soap bars; body oils
and
body scrubs. As Ann and Oliver want to use only the best and safest
natural ingredients for targeting a single customer base of people
who desire products that are not only good for them but also for
the Earth.