Tashna Leigh N Kelly

CosmoPlus Co. Get the beauty habit Marketing Plan July 2,2020 Contact Information Kelly Works- www.cosmoplus.com 1234 Main St. OR 12345, USA 1|Page Table of Content Title Page # Business Market Analysis Market Summary.........................................................................................................3 Mission Statement................................................................................................3 Target Market.......................................................................................................3 Marketing Objectives...........................................................................................3 Financial Objectives.............................................................................................3 SWOT Analysis...........................................................................................................4 Marketing Strategy Marketing Mix.............................................................................................................5 Marketing Strategies Outline.......................................................................................6 Detailed Marketing Strategy........................................................................................7-8 2|Page BUSINESS MARKET ANALYSIS CosmoPlus Company is a start-up vegan, all-natural cosmetics brand. The company specializes in body butters, facial cleaners, hair care products and body soaps. With the new upsurge in using natural products CosmoPlus seeks to take advantage of the trend to create brand awareness and increase profits. Mission Statement CosmoPlus seeks to provide an all-natural alternative to various skincare products at an affordable price to all consumers. We are constantly working to create innovative, all-natural, vegan recipes to heal or treat various skin types so that our consumers can gain confidence. Our products meet the highest quality standards and is 100% organic. Marketing Objectives The goals of CosmoPlus Company are to create brand awareness locally and internationally with a 4-month period using various method of promotions. This will include personal selling, sales promotions and social media marketing as the biggest driving force. Additionally, the company will also conduct a market research to ascertain what are the current need/wants of consumers to allow for possible new product development. Financial Objectives In commencing the marketing objectives, it is projected that the business will earn $125,900. This will be based on a marketing budget of $65,000 for a 4-month programme. Some ideas which will be vetted are stronger and consistent social media presence, creating relationship with various beauty stores so that products can be sold and engaging in various sales promotion initiatives. Target Market CosmoPlus Company seeks to offer products to various demographics but will focus on working-class millennials living in any of the 14 parishes in Jamaica. The products offered may appeal to the segment of the market whose main goal is gaining healthy skin or looking for healthy alternatives. 3|Page SWOT Analysis Strengths 1. 2. 3. 4. A customer driven, privately owned business. Reputation of showing results after products are used. Live Customer Service Support. High quality ingredients. Weaknesses 1. 2. 3. 4. 5. 6. Need for expansion of product line. Fluctuating revenues on a monthly basis. Have not yet made any public appearances, like at BeautyConja or Schools. Does not take advantage of E-commerce for international sales. Does not have a website. Low social media presence. Opportunities 1. Beauty industry is a growing industry especially because many are trying to buy into the “Brand Jamaica” craze. 2. Industry in Jamaica does not have a dominant player 3. Globally, individuals are becoming chemical conscious; everyone is looking for natural alternatives. Threats 1. Significant local competition exists with many individuals offering the same products. 2. There are not many barriers to entry therefore there are cheaper alternatives from China on the market. 3. Economic recession could have a huge impact on the sales due to decrease in disposable income of consumers. Competition CosmoPlus competitions range from various small businesses like Curves Skin Care, Glow Skin Care to big international businesses such as LuluHolistics. 4|Page Marketing Strategy Marketing Mix Product The new wave of demand is natural products because as a consumer you are aware of the various ingredients you are using. This brings comfort to many as there is a reduced risk of chemicals damaging your skin overtime and the skin condition worsening. CosmoPlus Products are harvested from local Jamaicans where each ingredient has been naturally grown. Price CosmoPlus Company’s mission of being an affordable, high-quality brand has always been attained. CosmoPlus Co. product line ranges from $5 for soaps and between $10-$25 being the highest priced product sold by the business. Compared to other brands whose soaps can range from $10 upwards and body care products can range from $20 upwards. Promotion The aim is to promote these products on social media platforms along with flyers and attempting to showcase products at any entrepreneurial forums. With the rise of social media marketing sites like Youtube and Instagram oftentimes gain a lot of consumer traffic. By making use of product placements and having an active business pages the business can seek to gain more recognition which will lead to more sales. Possible advertisements will be done on Youtube, promotions from local influencers, fliers etc. Place CosmoPlus will be concentrated on a E-Commerce basis, however, attempts will be made at creating relationships with beauty stores and pharmacies to sell the products. Additionally, each product will be sold wholesale and retail so as to satisfy various markets. 5|Page Marketing Strategy Outline 6|Page Detailed Marketing Strategies All implementation activities are to begin at the start of the next fiscal year on June 1st and end on September 31st. • On June 1st, create 1 sales manager position and the position of marketing director. The marketing director will serve as project leader of a new business analysis team, to be composed of 5 employees; 2 preferably within the business. Also, a web developer position will be created. • By June 10th, assign 5 members of the analysis team to each of the following projects: (1) research potential new product offerings and clients, (2) analyze the current billing cycle and billing practices, (1) design a customer survey project and (1) will create business’s social media accounts (Instagram, Facebook and Twitter). * The marketing director will be responsible. • By June 15th, start the creation process for the website. * Will be done by web developer in partnership with the marketing director. • By June 25th, the three project groups will report the results of their analyses. A posting schedule for social media platforms should be created. The full business analysis team will review all recommendations. • By June 30th, develop a marketing information system to monitor client reorder patterns and customer satisfaction. By June 31st, print fliers and make revisions to in website format and usability if needed. • By July 10th, make initial contact with new potential clients for the current product line to be sold in select stores. Also, contact influencers to ascertain their rates so that they can promote the product. * Each sales manager is responsible. 7|Page • By July 31st, develop a plan for one new product offering along with an analysis of its potential customers. *The business analysis team is responsible. • By August 10th, implement public announcement of discount coupon for select items, hire individuals to distribute fliers in various central locations like Half Way Tree, Cross Roads, Downtown etc. *The marketing director is responsible. • By August 31th, implement a new product offering and book a spot at a beauty festival or school show day and give a sample to potential clients. Also, work with web developer to brainstorm an SEO strategy. • By September 31st, analyze and report the results of all customer satisfaction surveys and evaluate the new product offering. *The marketing director is responsible. • Reestablish the objectives of the business analysis team for the next fiscal year. marketing director is responsible. *The 8|Page