Evaluation of Marketing Decisions
Effective management entails making the effective marketing decisions that are able to promote the popularity of commodities among consumers. A fast moving consumer goods industry is one of the most competitive ones. The firms need to ensure that they make correct decisions that would enable them to maintain a competitive advantage over others. The significant market research should be conducted before the formulation of any decision related to the sale of the company’s products. It is vital for the management to get a proper understanding of the market by dedicating the required resources to ensure the effective research of the market. The market mix, which entails such aspects as the price, place, product and promotion, should also be considered in making some marketing decisions. Relevant marketing decisions would also involve a superb understanding of competitors and the threats that they are likely to pose to the company’s product. The identification of competitors is vital because it will help in the development of a different approach to product positioning. Significant decisions would lead consumers to the understanding that the products of the company are superior to those ones offered by competitors. Again, a better performance in terms of profitability of the company will be realized in cases where better marketing decisions are being made within the company. Therefore, such products as Nivea and L’Oreal Paris operating in the fast moving consumer goods industry always demand the formulation of better decisions in order to boost their ability to attract consumers and earn the required levels of returns. Consumer loyalty for these products is achieved through making better marketing decisions.
This paper evaluates the marketing decisions of Nivea and L’Oreal Paris found in the fast moving consumer goods industry.
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Evaluation of Nivea Marketing Decisions
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- Firstly, the marketing decisions for Nivea entail the identification of prices of similar products in the market. Marketing decisions relating to Nivea involve a thorough research into the prices charged by competitors within the market. The decisions to quote the prices of different sizes of Nivea emanate from the prices charged by competitors within the market. This is done in this manner in order to ensure that the brand gets higher sales compared to competitive brands such as L’Oreal Paris. Boone & Kurtz (2011) has affirmed that the marketing decisions related to the pricing of Nivea done in line with the existing price policies which demand that consumers should be treated well in the market. The adherence to marketing policies ensures that the Nivea brand has not been overpriced or underpriced in the market, hence, maintaining its competitive position within the market. The strategies used in the making of marketing decisions in relation to the pricing of Nivea are effective because they ensure that the required prices have been set within the market. These decisions also put into consideration the welfare of consumers while not denying the brand the ability to generate the required level of profitability. The Nivea brand has matured. It has been able to establish brand loyalty among consumers through effective pricing (Perrey & Spillecke 2011). The formulation of marketing decisions with the adherence to the policies on pricing is also significant because it ensures that the market is open and competitive brands such as L’Oreal Paris are also given the opportunity to sell their products in the market that accommodates the equality. Therefore, the marketing decisions relating to the pricing of Nivea are effective because they put into consideration the required demands of all stakeholders. They aim at making the brand as affordable as possible.
- Secondly, management makes a significant decision concerning the positioning of Nivea in the market. Positioning is a process of placing the brand in the minds of consumers with an emphasis that they are able to provide more satisfaction and quality compared to the products offered by competitors. Decisions related to the positioning of the Nivea brand in the market are always aimed at placing the brand in the minds of consumers in a systematic manner and ensuring that they are able to enjoy the quality of a product. Positioning is always done with the adherence to the strategies of effective positioning of the brand in the market. For instance, the management makes decisions which emphasize that Nivea should be positioned as a superior brand to other brands such as L’Oreal Paris. The positioning is also gradual as the significant measures are taken to ensure that consumers get the correct information related to the product and its quality to them. According to Capon (2009), consumers are always given some time to understand the quality of the brand and the manner in which it would serve them accordingly. The brand is also positioned as a market leader; and the position is held forever. The management makes the effective decision of positioning Nivea as a market leader. It maintains this positioning throughout the period of sale. With the understanding of a view that Nivea is a market leader, consumers understand it more and tend to develop the brand loyalty, hence, boosting the benefits emanating from it. It is vital to note that the marketing decisions made in line with the positioning of the Nivea brand in the market are effective because they help consumers to understand the benefits they would derive from using the product. Additionally, Nivea gains an upper hand in the market because it is positioned as a market leader. The position is always maintained throughout the period of marketing.
- Third, marketing decisions for the Nivea brand entails the identification of significant marketing channels such as communication, distribution and service channels. Marketing channels refer to those channels in the marketing system that plays a vital role in promoting the effective performance of different activities within the market. Notably, marketing channels ensure that different individuals are linked within the market; hence, creating a network that is able to ensure a smooth flow of operations in the market. Marketing decisions related to the Nivea brand accommodate the distribution channels, which ensure that a product has been effectively distributed in different markets within the United Kingdom. Communication channels helps in the presentation of information related to the performance of the Nivea brand in different places within the United Kingdom. The communication link connects individuals and ensures that the product has been taken to the required places as demanded. More so, service channels that entail the provision of relevant information to consumers about the quality of the Nivea brand are beinf offered. All questions related to the Nivea brand are always answered according to a superb service delivery at the company. This promotes the success at the company. Notably, effective decisions are always made with the incorporation of proper marketing channels promoting a faster movement of the Nivea product in the market. Doole & Lowe (2005) have confirmed that marketing decisions related to distribution channels of the Nivea brand ensure that it is available in different areas within the UK. All consumers in the market are able to be satisfied as required. Therefore, the overall incorporation of marketing channels in the marketing decisions of Nivea is significant because it boosts the brand in the eyes of consumers. They are able to understand all the aspects of the Nivea brand in terms of where it can be found and the manner in which it can be used to derive the maximum benefits.
- Lastly, marketing decisions relating to the Nivea brand always accommodate technology and involve the use of electronic methods such as emails and electronic interviews to determine the preferences of consumers in the UK market. The management has an effective understanding of technology and its use in marketing. Most of marketing decisions related to the Nivea product always involve the utilization of technology and the assurance that the current technology would be maintained in the entire sales of the Nivea product in the market. Therefore, marketing decisions are always made in such a manner that they embrace the changing levels of technology and ensure that the brand remains as relevant as possible in the market. The decisions focused on technology always ensure that the current means of production and the appearance of the brand have been ensured. Jones (2010) has agreed that technologically-motivated decisions also ensure that the Nivea product is embraced in the market in line with the current attitudes and the beliefs of individuals concerning what they need for their bodies. Technology makes these decisions more relevant in the contemporary market setting. They ensure that the progressive attitudes of consumers concerning what is good for their bodies is embraced as they reflect the consistency with the expected attitudes and demands of consumers. The Nivea brand is also able to be marketed with the correct current language that has an automatic appeal to consumers in the UK market (Rugman 2005). Technology drives a change in the marketing of the Nivea brand and ensures that consumers in the market are able to respond to it appropriately. Therefore, most marketing decisions relate to technology. This plays a key role of ensuring that they are more accommodated by consumers in the market. Marketing decisions reflect a high sense of technology, hence, ensuring that they reap maximum benefits for the company.
Evaluation of the Marketing Decisions of L’Oreal Paris
L’Oreal Paris is also a significant brand in the first moving consumer products and entails making different decisions which are always aimed at promoting its marketability.
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- Firstly, the marketing decisions related to the brand L’Oreal Paris always entails the product element of the marketing mix. The product element of the marketing mix involves an effective description of the product and the outlining of benefits that the product would deliver to its ultimate consumers. Matsatsinīs & Siskos (2003) has opined that these decisions cover all aspects of the L’Oreal Paris brand ensuring that consumers get an understanding of the product and comprehend its usability in improving their skin care. The L’Oreal Paris brand is always described effectively with a belief that it would bring the required level of satisfaction to consumers and at the same time achieve the goals of the profit maximization in the company. The marketing decisions related to the definition of the L’Oreal Paris brand and the continued emphasis on its usage through a promotional campaigns plays a significant role of ensuring that it is accepted in the market. The management ensures that the marketing decisions touch every aspect of the product, and consumers get to understand it better. A decision to incorporate the description of the brand in the marketing decisions is relevant because it presents an opportunity for consumers to understand L’Oreal Paris and the manner in which it can be utilized to derive the maximum satisfaction. They are also able to develop consumer loyalty to the brand. This plays a key role in boosting the sales of the brand. Therefore, the decision related to the utilization of a product element of the marketing mix allows an opportunity for a better evaluation of the product among consumers and the development of brand loyalty for L’Oreal Paris.
- Secondly, the decision positions the product as a market leader is another vital marketing decision that helps promoting the competitiveness of the brand in the market. As noted earlier, positioning involves the placement of the particular brand into the minds of consumers with an emphasis that the product is of superior quality compared to the brands offered by such competitors as Nivea. According to Onkvisit & Shaw (2008), the positioning decision involves the presentation of L’Oreal also as a market leader meaning that it competes with Nivea for the market leadership in the first moving consumer goods. More so, this decision involves the position of the L’Oreal Paris brand against such significant competitors as the Nivea brand with the emphasis that it offers the best quality compared to Nivea. This is likely to stick in the minds of consumers as they develop an anticipation to derive the best quality from the brand. The appropriate brand name L’Oreal Paris is also emphasized in the formulation of decisions related to its marketing. The decision to emphasize the placement of the brand in the minds of consumers plays a key role in promoting the acceptability of the brand among consumers. Additionally, a brand image is likely to develop from the continued growth of the name of the brand because of effective positioning. It is important to note that the marketing decision related to the positioning of the L’Oreal Paris brand into the market ensures that it is able to compete favourably as consumers also develop the liking to it. It is also able to generate the required level of benefits and to ensure that all individuals in the market are satisfied as required. Therefore, this decision is relevant as it plays a significant role in dealing with such competitor brands as Nivea.
- Additionally, marketing decisions for the L’Oreal Paris brand also accommodate the pricing element of the market mix making it more relevant for the development of the company. Pricing is a crucial element as it determines whether consumers would derive the satisfaction from the particular brand at the most affordable prices possible (Tungate 2011). Additionally, the pricing element also determines whether the company would be able to derive the required level of benefits from operations. It is significant to note that the marketing decisions for the L’Oreal Paris brand entails the determination of what competitor brands such as the Nivea brand sell in the market. Similarly to the Nivea brand, the marketing decisions on pricing are done in line with the required pricing policies. Palmer (2012) has asserted that the market pricing decisions are always focused on ensuring that the brand satisfies consumers appropriately. It also attains the best level of profits in the required manner. The observance of marketing decision prices set by competitors such as the Nivea brand is significant because it ensures that the best price has been embraced for the brand in order to ensure that it gives the best benefits. More so, this decision is useful as it helps in improving the quality of the product and charging the best price possible because of the assured best quality. This marketing decision also guides the company to the level of profitability that may be expected from the L’Oreal Paris brand even with the satisfaction of consumers and the achievement of profitability goals of the firm. The level of success in the market is reflected through some marketing decisions on pricing as the managers are able to predetermine the stability of the brand and adopt any changes required to make it more relevant. Therefore, the market pricing decisions adopted for the L’Oreal Paris brand is similar to the one for Nivea even as these two brands compete for the market leadership.
- Lastly, the market decisions of the L’Oreal Paris brand which relate to the market research play a key role in ensuring that the entire market has been understood appropriately at all times. The decisions related to the L’Oreal Paris brand are focused on the market research which entails the identification of different relevant matters existing in the market. Marketing decisions reflecting the market research indicate the problems that the brand is likely to encounter in the market. For instance, this decision is likely to indicate that the L’Oreal Paris brand is likely to face the immense competition from other established brands such as Nivea. Decisions on the marketing research focused on the UK market always seek to find out the tastes and preferences of consumers in line with the products they desire. More so, it helps in the indication of buying patterns of consumers in the UK market. For instance, there would be an understanding of the reason why consumers would move from one brand to another in the course of utilizing different products. The marketing decisions touching the market research are relevant because they also help to indicate the attitudes of consumers towards the L’Oreal Paris brand. The opportunity to understand the attitude of consumers concerning the brand helps in making some required amends before the brand can be positioned in the minds of consumers as having superior quality to the competitive brands such as Nivea. It is significant to note that marketing decisions that reflect the elements of the market research bring out the required quality in the company. They ensure that the required goals are being realized appropriately, and consumers are getting the required level of satisfaction. Thus, the L’Oreal Paris brand’s marketing decision on the continued market research is relevant because it helps revealing the required trends in the market (Parasuraman et al. 2007).
In conclusion, the entire process of marketing requires decisions that are relevant and that reflect the potential of brands to satisfy customers and provide the required level of profitability for the company. The management must always ensure that it makes marketing decisions be effective and uphold the required principles of the efficient market. The Nivea brand is always associated with significant decisions such as market pricing, positioning decisions and the decisions to identify the required market channels as well as some technological marketing decisions. These decisions are relevant because they ensure that the operations of the company are effective, and it is moving towards the realization of the required goals. The consumers of the Nivea brand are able to derive the maximum satisfaction from the brand. These decisions are also relevant because they ensure that the correct choices are made in terms of pricing and identifying other vital opportunities in the market. The strength of the Nivea brand in the UK market is stable because it is catapulted by these decisions. Similarly, the L’Oreal Paris brand utilizes marketing decisions such as a product element decision, the market research decisions, the pricing element decisions and positioning decisions. These decisions are relevant to the company and ensure that the brand is catapulted in the market making it easier deal with such competitors as the Nivea brand. The market in the United Kingdom is open to competition meaning that any of these two brands has an equal chance for success. The relevant decisions that touch the quality of the product would play a vital role of boosting the success of any of these brands in the UK market. Consumers should continue to be measured in terms of their desires. Also, relevant marketing decisions should be adopted to meet their needs each day.