NIVEA’s strategy for marketing mix:
NIVEA- a well-known beauty and skin care brand in the market was established in the year 1882. Along with the focus on making the products available to as many customers as possible, it has always strived to understand the needs and wants of customers to bring as many different products as possible.
Marketing mix for NIVEA’s new product line:
Marketing research revealed an opportunity for a new product to the younger customers. It resulted in the launch of Nivea Visage in the year 2005. The product was developed for the 13 to 19 years of age basically for teenagers.
The company developed a balanced marketing mix and appealed younger audience. The company ensured that all the elements of marketing mix are balanced to appeal the target audience and achieved success at the time of launching in the year 2005. The product was re-launched in the year 2007 after successful demand.
#1 Product of NIVEA
The company has put significant importance in understanding the consumer dynamics. It helped to develop more innovative products and fulfilled customer needs. With the help of marketing mix, it became clear that younger audiences wished for more such product lines. The product was subsequently redesigned and met the specialized requirements for younger audiences.
#2 Price of NIVEA
An effective pricing strategy looks at the product perceived and actual values. The final prize must be decided taking into account of both these values. After the re-launch in the year 2007, Nivea Visage Young was priced little higher than before as it got specializations and better packaging. Out of total sales from Nivea Products, 7 percent was of Nivea Visage Young.
#3 Place of NIVEA
Nivea aims to have wider reach of their products and ensure that they are readily available to the customers. High street retail stores are the primary channels that accounts for 65 percent of their sales. Another channel includes grocery stores. Both these channels include younger generations and their mothers buying the products.
#4 Promotion of NIVEA
Nivea has always promoted their products based on actual lifestyle of the target audiences. Sample sales of the products are the key activities that this company follows and allows the customers to try their actual products for free. The company has also maintained a strong online social media presence on popular social media networks promoting brand awareness.
Wrapping up
As we can see clearly from the Nivea Visage Example, that the company has managed to create a clear marketing position. The brand message reached the correct target audience and in the right time and right way.
Thus, we can learn that it is crucial for a company to focus on all the elements of marketing mix equally in order to reach at the customer’s heart.
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