- The principle of marketing is mainly based on marketing thoughts and ideas of firm that are use for formulating effective marketing strategy.
- It is essential for businesses to regulate operation in free market as success depends on identifying and retain customers to remain profitable and make sure business development.
- An organisation can use marketing principles for effectively promote desired goods and services.
Background of Chosen Brand
- In this presentation, chosen brand is Dove Toothpaste that is provides whitening and freshening to the teeth of customers.
- The market share of this brand is approximately 4% and large number of customers purchase these commodities to refresh their teeth.
- This is one of the most popular brand which has high cleaning Silica and polyphosphates.
- It is analysed that Dove is the leading brand and they launch different forms of products or facilities in the market area.
- Market size requires to evaluate by Dove in which they need positioned their brand and gain attention of large number of customers.
This is important for firm is to concentrate on managing and maintaining business functions and its operations effectively.
The current trends also examined by brands that demonstrates the actual situation of the whole market area where company placed their brand and try to expand these in a large market place.
Extension Brand Value
Company’s websites: An organisation manager requires to update and install Dove website of the product.
Advertising campaign: This is essential part of developing awareness of brand among buyers. With the help of conducting campaign, a firm can easily achieving potential goals and targets.
Sponsorship activities: It is also necessary for team members to perform required actions and operations which are important for extension of brand.
Suitable growth strategy for brand
- For the Dove brand, market expansion strategy is one of the best appropriate tactics that increase business development.
- An organisation can adopt such strategy when their growth and success peaks in existing channels.
- With the assistance of this strategy, company can easily recognise various markets where they can target desired customers towards their brand.
Proposed target market for the new brand extension
- The company mainly target such women and girls who are active on social media platforms and always monitor new products.
- Dove brand also concentrate on female members whose age is 18-35 and who valued healthy, natural and beauty goods items.
- For the brand expansion, they need to formulate male beauty products by which they can easily attain both male and female targeted audience. It will enhancing its growth and success level.
Key trends and PESTEL issues that have influenced choice of brand extension idea
- Requires to examine social trends
- Use and follow legal frameworks for better operations of business
- Concentrate on political situations
- Focus on economic conditions
- Formulate the environmental friendly items
Visual Image of the Brand Extension
Dove toothpaste brand one of the popular product among the desired customers and its design and logo are formulate in that manner which gain attention of buyers.
Gharibzahedi, S.M.T. and Jafari, S.M., 2017. The importance of minerals in human nutrition: Bioavailability, food fortification, processing effects and nanoencapsulation. Trends in Food Science & Technology, 62, pp.119-132.
Ploussi, A. and Efstathopoulos, E.P., 2016. Importance of establishing radiation protection culture in radiology department. World journal of radiology, 8(2), p.142.
Jercinovic, S., Muzina, M., Svrznjak, K. and Kantar, S., 2018. Performance of social benefit commitment in marketing orientation. ECONOMIC SCIENCE FOR RURAL DEVELOPMENT 2018, p.356.
Jones, J.L. and Shandiz, M., 2015. Service quality expectations: Exploring the importance of SERVQUAL dimensions from different nonprofit constituent groups. Journal of Nonprofit & Public Sector Marketing, 27(1), pp.48-69.
Moos, M., 2016. From gentrification to youthification? The increasing importance of young age in delineating high-density living. Urban Studies, 53(14), pp.2903-2920.
Tang, G., Cai, Z., Liu, Z., Zhu, H., Yang, X. and Li, J., 2015. The importance of ethical leadership in employees’ value congruence and turnover. Cornell Hospitality Quarterly, 56(4), pp.397-410.