Marketing Plan Insurance and Opportunities

Question: Discuss about the Marketing Plan Insurance and Opportunities. Answer: Introduction NatureCare is one of the leading cosmetic company and first cosmetics retailer which sells directly through online. In other sense, this company provides its products to their customers through online. Besides that, this company has branches over Melbourne, Northcote of Australia. On the other hand, this paper is based on the marketing strategy of NatureCare and how the management implements a successful marketing plan to attack more customers. Moreover, SWOT analysis, PESTLE analysis, four P's of marketing mix and roles and responsibilities of management will be evaluated in this assessment. Marketing plan is the strategy made by an organization to achieve organizational objectives. SWOT and PESTEL analysis The SWOT and PESTEL analysis are based on personal care products. The SWOT analysis describes the Strength, Weakness, Opportunity and Threats of the organization. On the other hand, PESTEL analysis consists of Political, Environmental, Social, Technological, Economic and Legal factors. Delivery of excellent quality products to the customers who use personal beauty care products is the strength of the company. Other strengths are high brand awareness, celebrity endorsements, and fantastic product line. Nature Care have a presence in the VFM or value for money segment in which it is a leader (Van?k, Mikol and Ã… ½vkov, 2012). The company may face problems of differentiation. Some products are known to be exquisite, but others are ignored. The company can change the lifestyle of customers and also creates the growth strategies. An intense rivalry is a threat to the enterprise. On the political side, the government set VAT applied to all the personal care products of Nature Care. The brand policy, on the other hand, states that they do not test animals except when required by law. From social side, the company is identified as strongest engagement with the customers amongst the cosmetic brands (Kampanje, 2016). Aside from that, the products are sold more on the market with the help of social networking technologies such as Facebook and Twitter. The organization needs to set the price of goods according to the economic income of the country so that the people can afford it so that they can achieve organizational objectives. Risk in market opportunities Two marketing opportunities such as changing the lifestyle of customers and creation of growth strategies have some risk in it. The risk is providing expired products to the customers which can lead to loss of clients as well as the business. Then the lifestyle cannot be changed. Moreover, while creating a growth strategy, communication issues are faced by the company. These communication problems can be solved by proper vocal training. Other risks are a technology problem (Heathcote, Storesletten and Violante, 2015). Technical faults in manufacturing machines lead to damage of products which should be sold to the customers. Marketing Mix: 4Ps The marketing mix of Nature Care consists of 4Ps such as product, place, price and promotion. The marketing mix is significant as it helps the organizations to promote their products to the customer as well as increase brand awareness. A good quality product increases the client satisfaction level (Keegan and Green, 2015). Consequently, brand awareness increases. Moreover, the personal care products are most needed by the people who dwells in city areas. Therefore, a campaign should be made in such places where there are lots of skin and hair problems. Saloons and spa use these products to take care of their customers regarding skin and hair. The price should be set reasonably so that the clients can afford to buy. In order to implement successful marketing strategies, the management of NatureCare needs to recruit efficient staffs who will be properly awarded about their roles and responsibility. Besides that, the management of NatureCare should reduce the price of products which is an effective marketing strategy included in marketing plan. Apart from that, according to the timeline, required marketing tactics should be implemented through proper monitoring mechanisms and coordination. In order to implement marketing tactics successfully, the management of NatureCare needs to focus on available budget and staff. In other words, the management also spends efficient funds for the implementation of marketing tactics to achieve its goals and objectives. Regarding legal and ethical issues, the management should test their products before launching in the market. As well as, the customers should not wrongly address by management about a specific product (Sant, 2004). The marketing performance will be influenced by various types of marketing objectives which include a description of marketing metrics. While, the marketing objectives includes many significant aspects such as, customer requirement, rival companys strategy and current market condition which measure organizational performance by achieving goals and objectives . According to the SWOT analysis, PESTLE analysis and marketing 4Ps which are discussed in this report, a new skin related beauty product such as body lotion is required by most of the customers. So, a confirmed approval of CEO is required to develop the marketing plan which increase the profit of the organization to achieve its goals and objectives (Product reviews, 2004). Two marketing opportunities are that increasing demand of body lotion and available products are too expensive. The recommended marketing strategy and tactics are that the management should provide desired beauty products at a reasonable price to the customers. In order to measure marketing performance, the appropriate approach needs to be undertaken by the management. For example, each and every customer needs to be awarded properly about the skin products of NatureCare. On the other hand, the management of NatureCare should collect the feedback from their customers as documented in the report to achieve organizational goals(Lamb, Hair and McDaniel, 2008). In order to explain the marketing strategies to team members, effective communication is playing an essential role. Besides that, the team leader needs effective communication skills to elaborate his/her ideas clearly and concisely. Sometimes, team members ask questions regarding marketing strategy, so, the team leader must find out the point of view of the team. In addition, with the help of members suggestion and opinion, the team performance can be evaluated. Although, the team leader must reply to the questions which may be asked by his/her team members about marketing strategy to confirm and clarify information(Communication, 2009). Each and every segment of marketing plan helps the organization to achieve its goals and objectives by meeting customers demand. Conclusion The overall report consists of the marketing plans and strategies to develop the business of Nature Care. The report includes SWOT and PESTEL analysis to address the strength, weakness, opportunities and threat of the company along the political, legal, social, technical, economic and environmental factors. Marketing strategies include 4P's which helps the organization to globalize their market. References Heathcote, J., Storesletten, K. and Violante, G. (2015). Insurance and opportunities: A welfare analysis of labor market risk.Journal of Monetary Economics, 55(3), pp.501-525. Kampanje, B. (2016). 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