Reflective Marketing

During my CA2 Marketing plan, the most significant concepts that caught my interest was the promotion strategy. Through the project I have learnt that there are many ways to promote a product aside from advertising on a television or a newspaper. Creating advertisement needs creativity and planning as well, for it to be able to deliver the proper customer value and brand positioning to the audience. Also, I found out that public relations is another way of promoting as it builds good relations with the publics by obtaining favourable publicity. However, we should be cautious in doing publicity stunts as the audiences might misunderstood the message that the company is trying to relay which would in turn might backfire the product that the company is promoting. Thus, it is good to build a corporate image, and handle the unfavourable rumours and events.  Also, through this project I have learnt that it is important to find out what the customer really needs, and how their perception on a product could affect the value of it. For example, in Value-Based pricing which is one of the pricing strategies, the company set its target price based on customer’s perceptions of the product value. Creating the Persona with my project mates has been a great help for us in decision making as we have a brief idea of what we must consider in order to create a pricing strategy which would still be in line with our target customer and the brand positioning.

As a marketing executive, the company first should understand and learn the behaviour of the potential customers in the country that the business would enter. Since MAC is venturing into Asian countries, the product should be catered more onto Asian skin tones. Secondly, the new product which is MACnifique must be able to compete with the same other products available in that country so as to maximise the sales. Furthermore, the business should be able to adapt in a new environment and thus there should be changes where some parts should suit the demographic of that country which then enables the company to cater to the needs of the consumers. In the case of MACnifique, if it’s venturing into Korea, one changes that I would make for MACnifique is the packaging, I would make it in such a way that it will be able to compete with other makeup products available in Korea cosmetic market. Since most makeup products in Korea are packaged in a fancy way, MACnifique’s packaging will be based on the four season in Korea. For example If Korea is experiencing summer, the packaging will have a summer feel on it but I will ensure that the MAC style (sleek, straightforward, and clean) will still be present. It will also combine with the make-up products inside MACnifique by making the colour schemes in line with the season. Most importantly, the company manager should be experienced internationally, so as to be able to manage the business properly and promote the product in a way that the sales will be maximised.