28 March 2014
Marketing strategies for Revlon Nail Paints
Charlie nail paints have got negative demand as it has stopped it production in india since 25 years.
As there is no demand the marketing task is to create the demand for charlie nail paints.
I will follow marketing concept as i will give more atttention to the target market and their needs. I will follow integrated marketing and also look after making profit for my company.
THE PRODUCT OF MY COMPANY IS A CONSUMER product. It falls under non- durable category as its usage is limited depending upon the quantity.
Convenience – our product is available in many stores and multi- branded stores.
Speciality- we have many different types of nail paints other than normal ones. Like nail paint with nail art pen, magnetic nail paints etc.
Decision making – suvey
· Do you use nail paints?
1) Which brand of nail paint do you prefer?
2) Would you use customised nail paints?
i.e you are able u to choose exact shade and tone of ur desired colour n nail care products( nail strengtheners, vitamin e, cuticle softner etc) can also be added. On top of that it will be created and packed on the spot for you.
3 )Do u feel that certain colours shuld nly be reservd for certain ppl?( eg a 40yr old cn pull off a neon colour like an 18yr old)
3) Rate the following attributes from 1 to 7
· Neon paints
· Seasonal colours
· Nourishing nail paints
· Matt paint
4) Rate Re vlon nail paint
· Very good
5) How often do you apply nail polish?
6)i apply nail polish because.....
· Self- expression
· Sense of identity
· Fashionable purposes
· PRICING STRATEGY
· As a manager my objective for pricing is product quality leadership- i.e i want to make the product the market leader in terms of quality.
· My pricing strategies will be based by analysing competitor’s costs, prices and special offers
· Pricing method:
· I have selected the following methods for pricing:
· Target return pricing- target rate of retur on investment is pre determined.
· Value pricing: dis will attract the consumers to buy more as the product has low price for high quality
· Psychological pricing- it is a play of numbers through which ppl intend to buy more.
· NEW PRODUCTS BY REVLON
· I am launching new products such as magnetic nail paints, nail paints wid nail art pen, sun sensitive nail paints, customised nail paints by generating ideas from competitors, salesman and customers. These products were generated on the basis of reverse assumption analysis i.e ppl can gt customisied nail paints and new context.
· TEST MARKETING
· I also undergo test marketing for new products to find out whether the product is acceptable by the people. I will distribute dese products in multi brand stores and malls in Mumbai n new delhi for a duration of 4months i.e one quater. We will collect info regareding the consumers acceptibilty towards the product and satisfaction level. If the test marketing results are upto the mark then i will launch the product across india.
· GROWTH STRATEGY
· I am gng to follow growth b diversificatn strategy i.e i will grab the opportunity which are related to my core product.
- Harshita Doshi