Marketing Plan Report for La Roche Posay PDF

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Summary

Assignment 2 is an individually submitted report containing your costed plans for a Marketing event.
You are required to choose a real firm, operating in Vietnam. As a Marketing manager, you need to develop a Marketing plan for an important event. It should be a full costed plan....

Description

Table of Contents Final-term Assignment 2: 30%.................................................................................................................3 1. Executive Summary...............................................................................................................................3 1.1. Introduction of La Roche-Posay Laboratoire Dermatologique...................................................3 1.1.1. Basic information.....................................................................................................................3 1.1.2. Key market trends...................................................................................................................3 1.1.3. Product portfolio......................................................................................................................4 1.2. Summary of main goals and recommendations............................................................................4 1.2.1. Summary of overall main goals and recommendations........................................................4 1.2.2. Customer base..........................................................................................................................5 1.2.3. Financial planning summary..................................................................................................5 2. Environmental analysis.........................................................................................................................5 2.1.

Micro environment....................................................................................................................5

2.1.1.

Company.............................................................................................................................5

2.1.2.

Suppliers.............................................................................................................................5

2.1.3.

Competitors........................................................................................................................5

2.1.4.

Customers...........................................................................................................................6

2.2.

Macro environment...................................................................................................................6

2.2.1. Environment factors................................................................................................................6 2.2.2. Sociocultural influences...........................................................................................................7 2.2.3. Technological developments....................................................................................................7 2.2.4. Macroeconomic impacts..........................................................................................................7 2.2.5. Political-legal pressures...........................................................................................................7 2.3.

Market research.........................................................................................................................7

2.3.1. Market Summary.....................................................................................................................7 2.3.2. Market Demographic..............................................................................................................7 2.3.3. Market Needs...........................................................................................................................7 2.3.4. Market Trends..........................................................................................................................7 2.3.5. Market Growth........................................................................................................................7 2.4.

SWOT analysis...........................................................................................................................7

3. Marketing objectives.............................................................................................................................8 4. Marketing strategies..............................................................................................................................8 4.1. STP Strategy....................................................................................................................................8 1

4.1.1. Segmentation............................................................................................................................8 4.1.2. Target market...........................................................................................................................8 4.1.3. Positioning................................................................................................................................8 4.2. Marketing mix................................................................................................................................9 4.3. Strategies.........................................................................................................................................9 5. Financials...............................................................................................................................................9 5.1 Expense forecast..............................................................................................................................0 6. Marketing implementation...................................................................................................................0 6.1. Implementation...............................................................................................................................0 6.1.1. Marketing organization...........................................................................................................0 6.1.2. Implementation timetable.......................................................................................................0 6.2. Evaluation and Control..................................................................................................................0 6.2.1. Performance Standard............................................................................................................0 6.2.2. Financial Control.....................................................................................................................1 6.2.3. Monitoring Procedures............................................................................................................1 6.3. Contingency Planning....................................................................................................................1 7. References..............................................................................................................................................1

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Final-term Assignment 2: 30% Assignment 2 is an individually submitted report containing your costed plans for a Marketing event. You are required to choose a real firm, operating in Vietnam. As a Marketing manager, you need to develop a Marketing plan for an important event. It should be a full costed plan. Deadline: 22/12/2021

1. Executive Summary 1.1. Introduction of La Roche-Posay Laboratoire Dermatologique 1.1.1. Basic information As a brand, La Roche-Posay dates back to 1928 when when it began making dermal products formulated with thermal spring water. However, only until 1975 when René Levayer officially established La RochePosay Laboratoire Pharmaceutique, the first La Roche-Posay skin care line was born. The L'Oréal Group purchased the brand in 1989, not long after the La Roche-Posay Foundation was established to promote dermatology research, notably in areas such as atopy and skin intolerance. The brand’s focus today remains true to its original mission. La Roche-Posay is the world's most popular dermocosmetic brand, with 90,000 dermatologists recommending it. The firm collaborates with dermatologists and professionals to develop revolutionary skincare solutions for the most sensitive skins that are also beneficial for people, all guided by their values of courage, commitment, and love. Their products are now distributed in over 50 countries and is trusted by millions of people all over the world. Deeply steeped in its dermatological tradition, the company continues to push the boundaries of scientific research in order to provide dermatological skincare to the general public. La Roche-Posay introduces new generations of dermatological skincare products that are created with La Roche-natural Posay's thermal spring water to improve the users' quality of life. The company is dedicated to bringing dermatological skin care to those who need it by collaborating with dermatologists from product development to product recommendation. La RochePosay is thrilled to announce that it was chosen the winner of 22 prestigious beauty prizes in 2017. As a leading skincare brand, it continues to partner with dermatologists to develop some of the best, most revolutionary skincare and suncare formulations for even the most sensitive skin. La Roche Posay had recently been the world's number one dermocosmetics brand, with revenues of € 1 billion in 2018. In European pharmacies, this is the number one body care brand.    

Slogan: “Better life for sensitive skin” Values: Efficacy, Tolerance, Transparency, Honesty, Caring, Empathy Vision: One “La Roche-Posay” product in every home Products: Facial Care, Make Up, Hair Care, Body Care.

1.1.2. Key market trends -

Trends in product development Trends in purchase behavior Midorexia & Asianification Apps Vloggers and Bloggers

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-

Brands and retailers will add more value to consumers digitally Consumers will continue to expand their skin care routines and explore new products TikTok will become an even bigger discovery platform among Millennials and Gen Z

1.1.3. Product portfolio Describe the product or services clearly and concisely. -

Unique selling proposition (USPs): Thermal spring water. The reasons people should buy our product over our competitors’ offering: o They all include dermatologist-approved ingredients to effectively treat everything from wrinkles to acne while remaining inexpensive. o La Roche Posay is widely regarded as the greatest regime for every skin type o It's renowned for its high natural selenium level, which is a potent antioxidant that aids in healing.

Indication

Bodycare

Anti-aging Dry skin Eczemaprone skin Intolerant skin Irritated, fragilized skin Normal to combination skin Oil acneprone skin Reactive, allergic skin

Facecar e

Cleanse r

Deodoran t

Haircare

Make -up

Suncar e

20 6

4

3

4

20 4

1

15

2 3

3

1

1

2

8 6

3

4

6

Redness

15 5

2 9

Total

2 1

1

17 7

4

4

Sensitive skin

1

14

5

4

6

12

37

79

Total

14

61

18

4

6

21

39

163

1.2. Summary of main goals and recommendations 1.2.1. Summary of overall main goals and recommendations La Roche Posay generated $ 6 million in revenue in Vietnam in 2020. Our goal for 2021 is to raise earnings by 10% (6,6 million dollars) by using sale program techniques to boost client 4

demand, as well as launching store sales and professional skin counseling. As video sharing platforms, social networks, and other digital trends keep expanding and can't be overlooked in 2021, La Roche Posay embraced the trend to increase brand awareness and remain top-of-mind among the 15 to 20-year-old demographic. In addition, in the coming years, a product enhancement and development strategy will be critical. Campaigns in the media aimed at raising brand recognition. In the coming year, efforts to increase market share will be implemented as well. The upcoming Tiktok event is critical for the brand's reputation among the younger generations in our target market given Tiktok is a prominent platform with a profound impact on our social trends. Through this platform, we hope to market our products and raise public awareness of our brand.

1.2.2. Customer base Consumers, particularly those with sensitive skin, are looking for a product that is both safe and effective, as well as having a decent quality/price ratio. They are also in need of advices from a health professional (pharmacist, dermatologist, pediatrician, etc.)

1.2.3. Financial planning summary The Tiktok marketing event needs a budget of 1.880.780.000 VND to execute.

2. Environmental analysis 2.1.

Micro environment 2.1.

Company

La Roche Posay's manufacturing facilities are currently located in France and the United States. The company is a division of the L'Oréal group and is currently distributed in 52 countries. The active cosmetics business of L'Oréal produces 13% of its sales via the internet. The official store of La Roche-Posay is in HCM City and has 63 distributors nationwide.

2.2.

Suppliers

At L'Oréal, we obtain our supplies from a variety of sources. To address the demands of our customers and teams, we look to expert partners for everything from raw materials to industrial equipment, marketing, and general-purpose services. We occasionally subcontract the production process for certain product categories to carefully selected partners who, of course, are dedicated to meeting our high quality and safety standards. We take satisfaction in collaborating with service providers who share our values and are committed to societal and environmental aims.

2.3.

Competitors

Vichy, Avène, Eucerin, Cetaphil, and Bioderma are examples of competitor brands. Our rival companies are all well-known companies with a first-to-mind product in their respective areas. A unique thermal water with medicinal capabilities can be found at the brand's source. It is the only thermal water with a high concentration of selenium that cannot be imitated. Clinical investigations have revealed various therapeutic capabilities, which have been published in peer-reviewed dermatology journals: anti-free radical, anti-irritation, healing, relaxing, and alleviating, as well as a unique composition. The La Roche-Posay thermal

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Centre is located at the heart of the brand. Finally, no parabens are used in any of La RochePosay's products.

2.4.

Customers

La Roche-Posay primarily caters to retailers and wholesalers. Consumers in Vietnam are still price sensitive, but they have a good and accepting attitude toward our company's reputation because our items are high quality and reasonable. Brand loyalty is common among consumers. Sharing what works on them with friends is preferred. Personal recommendation is favored by 58 percent of respondents over celebrity marketing.

2.2.

Macro environment

The external forces must be considered in Vietnam's beauty and cosmetics industry analysis is applied to analyze five factors as follows:

2.2.1. Environment factors The climate of Vietnam is hot and humid, with monsoon natural disasters happening frequently. This has a significant impact on the preservation and shipping of La Roche Posay's products. On the other hand, air pollution in Vietnam is severe, and sitting outdoors or in front of a computer for lengthy periods of time exposes the skin to dangerous UV rays and computer radiation. As a result, it is critical to take care of the skin in order to protect it.

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2.2.2. Sociocultural influences In general, Vietnamese people have the psychology of purchasing international goods not only because of the quality and design, but also because of the brand reputation of foreign enterprises, while Vietnamese goods have yet to gain consumer trust for a variety of reasons. Vietnamese cosmetics conjure up ideas of poorly advertised cream mixes and cosmetics of unknown provenance freely available on the market in the imaginations of the 9x and 10x generations. This has had a significant impact on Vietnamese customers' confidence. => This is a notion that impacts La Roche Posay, particularly those goods that are directly tied to skin care.

2.2.3. Technological developments Elements of innovative and modern cosmetic production lines will serve as a crucial foundation for assisting cosmetic manufacturing and processing units in obtaining the highest quality goods while also providing consumers with high efficiency. => La Roche Posay goods are created in a modern, closed line that adheres to the Ministry of Health of Vietnam's GMP standards.

2.2.4. Macroeconomic impacts According to The World Bank (2021), Vietnam's economy will be less damaged by the Covid-19 pandemic in 2020 as a result of the government's, Prime Minister's, and people's and business community's efforts to execute pandemic prevention. However, by the middle of 2021, the Covid-19 outbreak had become increasingly intricate and difficult to regulate. => This has an impact on people's disposable income, causing the consumer price index to fall. This is a disadvantage for both the skin care sector and La Roche Posay Vietnam, because as disposable income declines, consumers will become less concerned with their beauty needs.

2.2.5. Political-legal pressures The current political, social, and security environment has provided favorable conditions for pharmaceutical and cosmetic companies to conduct business. - In terms of legislation, the government has issued numerous legal papers, such as the State's Pharmaceutical and Cosmetic Policy: - Decree 93/2016/ND-CP establishing cosmetic production conditions. This is seen as a benefit for the pharmaceutical-cosmetic industry in general, and La Roche Posay in particular, because consumers will trust La Roche Posay's products if they comply with government requirements. - Decree 98/2020/ND-CP, which establishes penalties for administrative infractions in commercial activities, the manufacturing and trade of counterfeit and prohibited items, and consumer protection. This benefits both consumers and La Roche Posay by preventing counterfeiting and losses.

2.3.

Market research 2.3.1. Market Summary Clinical skincare brand La Roche-Posay has emerged as a crucial player fueling the recent wave of enthusiasm around self-care, praised by dermatologists and bloggers alike. A significant concern was that La Roche-Posay focuses on people with sensitive skin, and many of these people either don't like to talk about their skin problems (such as acne) or 7

don't have a lot of time to look for the correct solution (e.g. busy parents). Target market includes:   

Personal care Skincare Sun care

2.3.2. Market Demographic To reach and get an insight in our target group, we decided to conduct a research plan. It is an easy way to get in touch with a lot of people, for sure the people between the ages of 15 and 20.  Geographics:  La-Roche Posay is more focus on Ho Chi Minh City target area. However, by leveraging the expansive reach of the Internet and multiple delivery services, also their distributors such as: Guardian, Watsons, Socialla, Pharmacity,…La-Roche Posay can serve all of their domestic cus...