Marketing Plan - Marketing Mix

Introduction

The company is formed by entrepreneur members with the objective of creating an innovative deodorant with unique benefits to improve the modern women lifestyle and exceeding the expectations of the actual market.

“Breathe”, the new deodorant, comprises the main concerns of females and, as a consequence, the characteristics of the product consist of: hair minimizing effects,24hrs protection, no antiperspirant product which neutralizes the odour, made of natural ingredients which conserve the environment and do not produce allergic reactions, dermatologically approved and, in addition, without leaving stains on the skin.

1.0 Problem Identification

Products to control the body odour have been used for centuries. Early antiperspirants were created from 1888since then a variety of products have been sold such as creams, aerosol, roll-ons and powders. (Madehow 2010)

The aim of this project is to launch a deodorant which solves one of the biggest challenges women are facing today. Currently, women experience issues with odour, transpiration, allergic reactions and blemished skin. In order to reach a better understanding of the actual problems aresearch was conducted. The following sections will show these results.

1.1 Research theory

Research is the collection, analysis and communication of information to support decision making. Marketing research is essential for marketers who want to deliver a superior value to their customers. Organisations need understand their customers, employees and stakeholders in order to deliver aproduct that satisfy their needs and exceed their expectations (Wilson et al, 2010, p.4).
The purpose of the figure 1.1.1 is to show the main techniques to be applied in marketing research. These techniques will be used according the company problem:

Figure 1.1.1 Market research techniques (Roe, 2010, p.34).

When faced a problem, the first and most hard issue is decided what technique ofresearch is the most suitable. The figure 1.1.2 provide a step decision making flow chart, it can be taken as a guide in any research problem:

Figure 1.1.2 Research methods flow chart (Roe, 2010, 37).

A cornerstone in decision making is trustworthy information. Nowadays and organisations have several opportunities to identify market data to create valuable knowledge to the business however theseare not totally reliable (Hair, 2007, p.303-304). In the table below it can be seen the advantages and limitations of market research:


Table 1.1.1 Market research: Advantages and limitations (Roe 2010 & Carson 2006).

Advantages Limitations
- Research provides information about market needs for company products or services. If the market research has been correctly developed and analysed,the findings can be relied for decision making and problem solving.
- New products cannot be developed without a deeply market research. A pre-test of each component of the marketing mix is highly recommended.
- Market research surveys give the main amount of customers’ information about their behaviour, habits, beliefs, wants and needs.
- Customer satisfaction could be evaluated with theaim of measure the products performance and service.
- Trade research: its objective is study all elements of the supply chain. - Market research reduces but not eliminates risks entirely.
- If the problem or need is not clearly defined, the research can re-state obvious results.
- Market research is often expensive. Small budgets could originate small sample sizes that considerably increasesample error.
- Research takes time, often months to analyse data and ensure the quality of the findings.



1.2 Research outcomes

As the section 1.0 mentioned, a descriptive research with a cross sectional designed was carried out. The sample of this primary study consisted of 300 individuals with different categories, as they are shown in the following table:

Table 1.2.1 Sample...