Saturday, March 2, 2019
Dove Ã¢â¬ Objectives of Marketing Plan & Pricing Strategy Essay
Setting objectives for a merchandising plan is non simple and straightforward matter. It is an iterative process whereby objectives be set, strategies and action plans are developed, and then it is decided whether the planned objectives are impossible, achievable or easy. trade objectives should be difficult, but they must be achievable. The aim is to set objectives that a challenge, but can be achieved with effort. They must be motivating quite a than discouraging. (Wes twainod, 2002). To be useful, the stated objectives should meet several criteria which are known as SMART objectives. Specific, Measurable, Achievable, Realistic, Timed According to marketteacher.com (2012), the purposes of SMART objectives includeTo enable a political party to control its marketing plan.=To help to motivate individuals and teams to reach a commons goal.To provide an agreed, consistent focus for all functions of an organization. plunges Marketing ObjectivesAccording to Marketing mixingx.com (2 012), Dove develops its marketing objectives very carefully as it is utilize to expand the definition of beauty for the reason that they believe real beauty comes from your inner self. The Marketing Objectives of Dove areTo increase sales by 40% in upcoming 1 year.Providing a boost to its fall guy image.Broaden the image as a beauty care providerIncrease the number of retail outlets selling dove products by 250 at bottom 12 monthsPRICING STRATEGY equipment casualty is the exchange value of a product or service, always expressed in terms of money. thither are costs to produce and design a product, to distribute a product, and to promote. Price must support these elements of the mix. Pricing is difficult and must suppose supply relationship. Price is the only element of marking mixes which sales revenue. Price is a powerful marketing instrument. It is often the most flexible of the quadruplet marketing mix elements. Price is a critical element in the marketing strategy of the i ndustrial marketer and should always be linear perspectiveed in the context of that marketing strategy. Price interacts with all other elements of the marketing mix to determine the effectiveness of each and of the whole. The objectives that guide determine strategy should be a subset of the objectives that guide overall marketing strategy.Thus, it is probably wrong to view impairment as an independent element of marketing strategy or to assert that price, by itself, is a central element in the marketing mix. (Webster, 1979) In Dove, we use three types of strategies. Namely, Competition-based pricing, growth line, Product Bundle pricing. Competition-based pricing is setting a price in comparison with competitors. Surely a firm has three options and these are to price lower, price to same or price higher.For example Dove Damage Therapy shampoo (700 ml) cost $11.70 versus Pantene Shampoo (700ml) cost $10.90 in FairPrice. Product line pricing is pricing diametrical products within the same product range at different price points. For example Dove Beauty Moisture Body Wash (1L) cost $9.75 versus Dove Firming Moisture Body Wash (1L) cost $10.70 in FairPrice. Product Bundle pricing means offering a group of cogitate products at a combined low price, so as to quarter rid of slow moving products. For example, Dove charges $7.50 for a bottle of Dove Beauty Moisture Body Wash and $13.90 for a bundle of two bottles at CK Departmental Store.REFERENCESWestwood, J., 2002, The Marketing Plan A step-by-step Guide. tertiary ed., London, Kogan Page Limited, p 101. Teacher, M, 2012, SMART Objectives online, England, Marketing Teacher, Available from http//www.marketingteacher.com/lesson-store/lesson-objectives.html. Last accessed 27th may 2012. Seher, T., 2012, Marketing Plan of Dove online, Marketing Mix, Available from http//marketingmixx.com/marketing-plan-2/181-marketing-plan-of-dove.html Last accessed 27th may 2012 Webster, F., 1979, Industrial Marketing Strategy, 3rd ed., Canada, John Wiley & Sons, Inc, p 190.