Current global market presence of Revlon
|✅ Paper Type: Free Essay||✅ Subject: Marketing|
|✅ Wordcount: 1837 words||✅ Published: 3rd May 2017|
Current Global Market Presence of Revlon
- The Group is well renowned for its versatility, experience and skills. It has established a reputation among overseas for producing and exporting a wide range of quality products.
- In Revlon Skin Clinic, we will provide value services, to delight the customer so that they will be more brand loyal.
- We will open our clinic in Urban areas, Metro and other big cities and not in rural areas because due to Cultural Factor, the people of rural areas may not expose to these services or their culture and tradition may oppose.
Current Global Market Presence of Revlon Consumer Products Corporation:-
Our Vision is to be the Global Market Share Leader, by providing products and services of superior quality to the customer. “Maximize buyer’s satisfaction; customers are treated on the number one priority, committed to excellence in quality, services “.
Ø As we know that currently there are many competitors that are providing cosmetic products as-well-as beautician services to both men and women at both high and low prices. Revlon also deals in cosmetic products that mainly target upper class and upper-middle class. Therefore for the Revlon Skin Clinic, we will follow Product Concept in which we provide both products and services that offer the most quality, performance and innovative features. Hence we will provide superior quality services and that will improve over time.
Customer Relationship Marketing:-
In Revlon Skin Clinic, we will always try to build long-term relation with the customer, so that the customer will come again for the repeat purchase.
For this purpose, we will appoint one individual for implementing better CRM practices. We will make database of long-term potential customers and then remain in contact with them by making wish on their Birthday, Marriage Anniversary, on festivals and other special occasions.
a) We first segment the target market into two broad categories:
- For Men
- and for Women
Because both these gender have different attitudinal and behavioral orientations based on genetic makeup and socialization, also women tend to more communal-minded and men tend to more goal-directed. We will use different advertisements to target both men and women.
b) Secondly, we will segment these two broader segments into two sub-segments based on Income i.e. we will target only high income level people like
- Upper-Middle Class and
- Posh or Premium Class,
because currently Revlon is targeting only these two classes for selling cosmetic products so if we start targeting Middle and Lower Class also then this will affect our already set customer base.
c) Third, we will segment above two sub-segments into three different sub-segments each depending upon Age and Life-Cycle i.e.
- Middle Age
- and Early old Age people
Graphical Representation of Segmentation:-
After identifying the different target market, we will decide which segment to target and when to target i.e. we will use Need-Based Market Segmentation Approach, because all types of segments are not useful at every time. Hence, as a marketer, we have to decide the right segment at a particular time for targeting.
As we know that currently Revlon has Complete Product Specialization in Cosmetics in their respective market, so we will use previous experience to target these above segments. Hence, we can say that Revlon Skin Clinic can position itself better as compared to other competitors.
Monopolistic Competition:- As we know that the current Beauty Market have Monopolistic Competition and many competitor are differentiating their product and services. So we will also follow this approach by offering different product and services, by focusing on the respective market segment and will command price premium over particular service offered.
Strategy for Competitors:-
- As we know that there are many well settled competitors in the Beauty Industry holding big market share. Competitors like Sanche Clinic, Kaya Skin Clinic, VLCC Skin Clinic, Habeev Skin Clinic, Laural, Shehnaaz Hussain etc are holding significant Share of mind and Share of Heart of the general masses.
- As a marketing officer, I will adopt the strategic group, i.e. the same strategy will be used in a given target market.
- Despite the all above strategic, Revlon Skin Clinic will act as a Market Challenger in the beauty market and will also target the nicher segments of the market. As a market challenger, we will attack current the market leader in the beauty industry. We will target small local and regional firms:
a) Frontal attack:- We will use Frontal Attack technique to target the market leader by comparing the opponent’s features and then come up with services better than the competitor.
b) Flank attack:- In Flank attack, we will identify the weak spots on the target segments and then come up with a strategy to rectify those segments.
c) Encirclement attack:- At last, we will adopt Encirclement attack for the market leader in which we will capture a wide slice of enemy’s territory in their respective segment.
- We will also expand the total market by targeting new customers continuously in new future along with providing value-priced services and service innovation.
Branding of clinic:-
Ø As we know that Revlon exist in the minds of customer by providing cosmetic products and tools. So may not face any difficulty while Branding the Revlon Skin Clinic.
Product Differentiation Strategy:-
Ø In Revlon Clinic, we will provide diffentiated services on the basis of no. of services offered, features and style of the services.
Product Life Cycle:-
Ø Currently Revlon Skin Clinic is in the Introduction stage of the Product Life Cycle (PLC). In this stage the sales may be slow in the initial period, all the services will be introduced in the market initially. We will try to gain customer acceptance. Yes Promotional expenses will be there. We will also try to inform all our potential customers and will give service trials for one day i.e. on the launch of the clinic.
Revlon Skin Clinic
Ø We will also provide diffentiated services by providing innovative features in services and by the sheer range of services offered.
The total number of different product and services that Revlon Skin Clinic will offer:
- In Revlon Skin Clinic, we will adopt Upper-Bound Price in which reservation price will be set that most consumers would usually pay for the services. We will also try to get Maximum market share on middle price products and Maximum Market Skimming on posh products and services that will be offered to Premium-Class Customers.
- We will also adopt Special-Event Pricing in which we charge customers on particular special events and will also offer Cash Rebates on Beauty Courses.
Ø In Revlon Skin Clinic, we will adopt Zero-level channel or direct marketing, in which we directly interact with our customer i.e. no marketing channel like Retailer, Wholsaler, etc will not be used .Hence services will directly be given to the customers.
We will choose following Communication medium for the awareness among customers and promotion of the Revlon Skin Clinic.
- Print ad
- Motion picture
- Brochure & booklet
- Symbol &logo
- Video tapes
Ø Sales Promotion
- Premiums and gift
- Fairs and trade shows
Ø Events & Experiences
Ø Public Relations
- Community Relations
- Company Magazine
* Incentive Programs
Direct Marketing: The database will be used for direct mail purposes. In other words direct mail will be used to keep current clients up to date (holiday gift specials, preferred customer cards with discounts, etc.)
- and voice mail.
In addition to above, the following seven mediums will also be used in our media planning:
- THEATER ADVERTISING
- DIRECT MARKETING
SWOT ANALYSIS of Revlon Skin Clinic:-
- Revlon have an international brand name
- Reputation will result in strong word of mouth
- Experienced staff of Revlon Cosmetics for suggestions
- Have own products that will be used for providing services
- Competition in the area
- High cost structure
- Location is getting too small
- New technology and innovation in can be used services.
- Can capture the rural market.
- Advertising might fail
- Rent is going up on a yearly basis – cost very high
- From Competitors
Research and Development:-
Ø In Revlon Skin Clinic, we will have a strong R&D that will help us to continuously judge the taste and preference of our customer, so that we will successfully provide them the desired product and services. For this purpose, we will recruit three Doctors specialist in Skin and other bodily treatments, for better practice of the R&D.
Ø In Revlon Skin Clinic we will continuously provide New Product and Service Line to our customers, also follow Cost Reductions in highly demanded services and Repositioning of those services that will get consumer acceptance. Hence we will serve our customer in the best way.
1. Marketing Management Twelfth Edition Philip Kotler, Kevin Lane Keller, Abraham Koshy, Mithileshwar Jha Pearson Education
2. From Company Web Side
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