Essay on Dr Pierre Ricaud Skincare Brand Plan of Action for Achieving International Marketing Objectives
Number of words: 2296
The demand for skincare products is increasing globally due to the need for many people to keep their skin young-looking and healthy. Dr Pierre Ricaud is a known brand in the skincare market owned by Yves Rocher. The skincare brand was founded in 1986 in France and has since become experts in the skincare market for over 30 years. By 2025, the skincare market is projected to grow to a whopping $189.3 billion, which necessitates the need for DPR to devise strategies for international penetration (Barger, Peltier and Schultz, 2016). The products by DPR are used mostly by women 40 years and above, especially the working class. In an attempt to spread its penetration, the brand has 12 salon clinics within France, which help offer appropriate anti-ageing skincare to clients. It is vital to devise an action plan that can help offer guidance towards the achievement of set international marketing objectives (Karagiannopoulos, Georgopoulos and Nikolopoulos, 2005). Global marketing objectives for DPR include an increase in brand awareness and grow market share within the skincare categories. Equally, DPR intends to grow social media presence within the United Kingdom. The third objective of international marketing is to increase online sales by 10% within the next year. Lastly, DPR aims to establish a marketing campaign within the allocated company budget (Delaney, 2016). The report explores an action plan that can help DPR achieve each of the set international marketing objectives.
Objective 1: Grow Brand Awareness and Market Share
There is a need for the company to grow its brand awareness and market share, especially within the United Kingdom. To increase awareness, DPR must conduct more online campaigns as a way of reaching many consumers within the UK. The first and vital step for the company marketing department is to identify where traffic is for their products. Once the target group has been identified, appropriate measures can be applied to access possible consumers. For instance, the target group for DPR products is mainly composed of women who are 40 years and above. Research on the level of market penetration for the brand could prove a necessary action as it can help determine appropriate marketing channels (Rockwell, 2019). Increased brand awareness for DPR would prove helpful in increasing the brand’s market share within and without the United Kingdom.
The main goal of increasing awareness for the skincare brand is to improve market penetration within the UK skincare market. When a brand is well known within the market, its sales increase and consequently lead to a larger market share. As such, the action plan is meant to help DPR increase awareness of its existence and capture more market share. DPR business intends to capitalize on its strengths in a bid to make an impact in the skincare market. Failure to create awareness of the brand can hurt its intentions of securing more market share in the industry. The issue of gaining more market share should be prioritized as it can help DPR make an impact in the skincare market globally (Barreda, Okumus, Nusair and Bilgihan, 2016). Use of the right channels for marketing requires the incorporation of digital platforms as many people have shifted traffic online. In essence, DPR seeks to apply possible means to ensure that the market is aware of the brand and that it has increased its market penetration.
An action plan should be assessed in an attempt to determine areas that are challenging to the achievement of the set objective. For instance, implementing of strategies meant to increase awareness should be monitored so that the brand does not waste funds in marketing. Evaluation of the success of the action plan should be based on the impact that the brand has made in the skincare market, especially in the United Kingdom (Izvercian, Miclea and Potra, 2016). Monitoring the process and evaluating its efficacy in helping DPR increase its market share can help detect areas that are challenging. As such, DPR can acquire more market share by creating awareness and presence in different online platforms.
Objective 2: Grow UK Social Media Presence
Social media presence plays a critical role in pushing a brand’s market penetration agenda. Social media platforms such as Facebook, Twitter, Instagram, YouTube and LinkedIn, among others, have numerous users who are presumed consumers of skincare products. Social media presence in a market can prove helpful in creating awareness and capturing a larger market share (Cawsey and Rowley, 2016). Dr Pierre Ricaud skincare brand should ensure that it has built an online page on every social media platform in a bid to boost its presence. Presence online means establishing a strategy that will see client queries handled all the time. A marketing budget can be high for brand, and there is a need for them to establish an online presence by allocating funds for the same in every fiscal year. Presence online helps solve the problem of inadequate or lack of information about a brand. Many people in the United Kingdom use the internet more often, necessitating the need for DPR to invest in online marketing.
The main goal of creating an online presence is to create awareness to the huge traffic available on social media platforms. Equally, DPR should conduct online campaigns, which are essential in convincing customers to purchase the brand in the United Kingdom. For the brand to make an impact in the UK market, social media platforms are crucial since they have huge traffic who are possible customers (Cawsey and Rowley, 2016). The company will need to establish methods and social media sites that are more appropriate within the United Kingdom. Equally, a dig into resources that competitors are using in the market is vital for DPR.
The process of creating an online presence in the United Kingdom should be monitored and evaluated to guarantee proper use of resources. Resources are a crucial competence for any firm to gain a competitive advantage in the skincare market. For instance, the VRIO model can be used to monitor resources and capabilities within the DPR business operations in the UK (Galpin, 2019). Assessment of an investment is essential in determining viability of strategies implemented towards the achievement of online presence in the UK. A budget will help reduce unexpected spending and wastage of resources on platforms that add no value to DPR.
Objective 3: Increase Company Online Sales by 10% by 2021
DPR aims to increase its company online sales by 10% by the end of the fourth quarter of 2021. Increase in sales in the United Kingdom by 10% can be achieved by the use of appropriate marketing techniques. Social media platforms will be the main focus for the company to increase its sales. To achieve this objective, the brand must create a strong online presence within the market. Equally, DPR should intensify its efforts of creating brand awareness in the market. Upon creation of awareness, DPR has a chance of gaining a competitive advantage in the skincare sector (Moore, Price, Wentworth. and Wood, 2018). Online sales can increase by the company innovating new product designs that can attract even younger generations. The anticipated 10% increase in the sales for DPR can be achievable, given the attractiveness of the brand globally.
The main goal of increasing sales is to ensure that company revenue is growing with the expansion of its business operations. DPR should concentrate on promoting brand products through different methods in a bid to increase sales. Promotional strategies may include advertising on various social media platforms, offering discounts s a way of persuading customers to purchase the band and diversifying options for products available. Promotions play a significant role in marketing as they convince the client to purchase a specific product. As such, promoting the brand in the United Kingdom market will prove helpful in its attempts of becoming a top brand worldwide.
DPR should allow clients online to make orders remotely and wait for products ordered. Delivering the goods at the doorstep of a client or workplace can help promote sales online within the time stipulated. In essence, the company should have an online platform with all products and prices for the same. Customers interested can visit the site and order products that are appealing to their skincare needs. The brand should take part in active marketing campaigns aimed at increasing its market share and awareness in the United Kingdom. Equally, the company has to conduct research and establish purchasing behavior in the UK market. Increase in company sales by the expected time can be monitored and evaluated by a close assessment of financial reports for the year 2021 (Cawsey and Rowley, 2016). The fact that an increase in sales by 10% is actionable and measurable makes it a vital objective for DPR.
Objective 4: Establishing a Marketing Campaign
DPR aims to develop a marketing campaign that is within the budget of the company. Marketing is a crucial aspect in any business and DPR should be at the forefront of marketing in the skincare market. Such campaigns should be run within the company budget to void wasteful spending on activities that do not add value. Campaigns can be run on social media platforms such as YouTube, Facebook and Twitter. Poor marketing strategies for any company can lead to a terrible fall in the skincare market. This makes it necessary for the company to invest in strategic channels, which guarantee more market penetration for DPR (Lee, Lee and Lee, 2016). The marketing campaign should aim to engage clients on social media platforms and provide them with feedback on any queries raised. The company can also conduct a background check on the most appropriate choice of marketing approach convenient for DPR in the UK market.
The goal of working within the set budget of the company is reducing any chance of unforeseen spending. Resources are a crucial part of any business, and proper use such capabilities can help the company achieve its objectives. Working outside the budget prepared will see the brand fail to conduct some of its operations for lack of sufficient resources (Dälken, 2014). Resources that are required will be sued for penetrating the market, improving product design and importantly, brand loyalty within the United Kingdom. As such, a budget is crucial to DPR in helping solve financial issues that may arise.
Evaluation of budget is necessary to establish areas that have been denied enough funds and those allocated excessive funds. The process of budgeting should be monitored closely to ensure that every aspect is correct for clarity an accountability reasons. The aim of ensuring accountability is to make proper use of resources available (Barger, Peltier and Schultz, 2016). An analysis of the market and dynamics that encompass skincare sector in the United Kingdom will help establish an estimate of what is expected as far as finances are concerned. Establishing a marketing campaign around the company budget helps administer accountability and transparency within the brand.
To sum it up, Dr Pierre Ricaud can do well within the United Kingdom market, given its ability and resources in the skincare sector. There is a need for DPR to devise strategic measures that can see it achieve its set international marketing objectives. Having dealt with skincare products for over 30 years, DPR is a brand that can penetrate the international market and increase its sales, especially within the UK. The first objective that can help the company achieve set goals is creating awareness and growing of total company sales. Company sales can increase if the brand manages to penetrate the skincare market in the United Kingdom. Equally, the company intends to grow its social media presence online in the intended market of investment. By 2021, the company aims to increase its sales by 10%, which is a significant growth in the skincare market. In a bid to avoid financial lapses, the company seeks to establish a marketing campaign that is reliant on the set budget for the same. The paper focuses on an action plan that can help DPR achieve the set international marketing strategies.
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