The current situation of Lola was assessed, leading to the identification of marketing problems, opportunities and objectives. The target audience and positioning of Lola are identified, and the campaign theme suggested would be “Stay Fabulous at Every Age” – all MIMIC strategies used will revolve around this theme. The 2 main platforms for the execution of Lays campaign would be via television and magazine advertisements. There will be an array of supporting MIMIC activities ranging from reduce sampling to event marketing.
Related costs pertaining to the implementation of the MIMIC strategies will be examined. The evaluation and control of the marketing efforts will be discussed and lastly, a conclusion will wrap up the report. 1. Situation Analysis 1. 1 Internal Analysis Lola, as owned by Procter & Gamble, is one of the most recognizable brands in the world that has been in the market for over 60 years. Since the brand is under P&G, also a multi-national corporation, consumers tend to have a certain credential on Lays products, which makes it one of the better brands on shelves.
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Despite the strong brand equity that Lola has garnered over the years, a weakness has released advertisements that misled the audience in thinking this brand caters to the older women. It is not the kind of perception Lola wants consumers to have as their target market includes women of a younger age group too. Albeit the weakness, Lola as a big brand, will have the ability to overcome their weakness. 1. 2 External Analysis TOTE is not the first or only anti-aging product in the market; it is inevitable that they will face competition from rival brands.
Other competing brands such as Bio-Essence, L’Oreal and Garner are also established names with good marketing plans, which threaten Lays foothold in the market. As mentioned above, consumers have a wrong perception of this brand/product. This result in a need for enhancing TOTE marketing plan, so as to correct consumer’s perception, which is the main purpose of this report. It is essential for Lola to understand what had led the consumers to have misconception of the brand and strengthen its marketing plan. 1. SOOT I Internal I External I Strengths I Brand equity I Opportunities Weakness I Perception of product/brand brands I I Enhancement of marketing plan I I Threats I Competition from rival 2. Identification of Marketing Problem or Opportunity 2. 1 Marketing Problem Current consumer sentiments about TOTE are that they are catered to older and matured women who will need this product to fight signs of aging. Younger women feel that this product would not be necessary since they currently do not have aging issues. 2. Marketing Opportunity To overcome the problem, it gives us an opportunity to market the product in a manner that TOTE helps to prevent by slowing down signs of aging, at the same time cackling current aging issues. The campaign would also educate consumers by highlighting the benefits of TOTE -Fighting 7 signs of aging, which is the unique selling point of the product. As all they would need is this one product to ensure radiant and young skin. This would appease and appeal to the beauty conscious women. 3. Marketing Objectives As of 2012, Lola Total Effects holds close to 0. % of the market share (Procter & Gamble. 2012). The following marketing objectives provide an outline of what we hope to achieve by the end of our 3-month campaign with the new Lola Total Effects integrated marketing communications plan: * Change the perception of Consumers that the product is catered to the youth (Expected to be 30%) * Increase market * Improve Lola Total Effects’ market share position from 3rd position to the 1st position * Increase sales levels by $4 million * Increase profits by 42% The objectives stated above are, according the MIMIC plan, set to be achieved by February 2014.
The marketing campaign will also strive to cultivate new habits from both current and new users to start using Lola Total Effect from young, to prevent and fight signs of aging. This can only be done when Lola by establishing new customer relationships, as well as to maintain existing loyal customer base. The campaign also enhances brand recall from loyal customers who exhibit repeat purchase behavior. 4.
Positioning ASK High Benefits Low Price I Lola Bio Essence L’oreal Neutron High Price Bore Garner Low Benefits In order to have a better understanding of the Lola Total Effect’s positioning market, a perceptual mapping is done in accordance to the perception of the consumers. Lola has positioned itself as the skincare brand, which was supported by scientifically proven chemistry. It targets the real women whom want to see the exults without having to spend a lot on other departmental stores’ products and spa treatments.
This map aids to the understanding of the products view by customers especially women who are more beauty conscious and price conscious; gaps in the market and it helps to identify the closest competitors. It is identified that Lola Total Effects are of higher price and superior benefits compared to Bio Essence and Neutron’s anti aging products due to the ingredients used, and have focus on overall benefits, which cater to women to fight the seven signs of aging (Contemporaries 2012). The use of the ingredients such as mound in the competitors’ (Lisa S, 2013), are contained in Lola Total Effects.
This served as the key differentiation and advantage to Lola Total Effects whereby consumers Just have to spend a fixed amount for a 7 in 1 product compared to competitor’s, which would require them to buy two or more products to combat the same signs of aging. There is a gap in a low benefits and high price section. As the consumers tend to be more knowledgeable and price conscious, they would not want to pay a high price for a low quality product that does not satisfies their needs and wants. In addition, it is fisticuff and costly for company to come out with a high benefits and low price products; thus the presence of the gap.
We have also identified that SKI and L’oreal are the closest competitor Anna G, 2012) (Lindsay M, 2012). 5. Communication Objectives Majority of the women use skincare products when they realized there is a need to take care of their skin. The aim is to get consumers to purchase Lola when they face an incomplete satisfaction. In order for Lola to stand out to the target market, ongoing promotions and road shows during Lays campaign period would create a stronger existence of Lola as a brand.
Consumers would learn more about Lola and whilst increasing the exposure of the brand, consumers are expected to spread the word-of-mouth. In addition to the advertisements which would be done on television and print advertisements, this image is an ideal fit to what Lola is all about. All advertisements would be done in credible sources with high reading traffic, which increases the “authority’ aspect. The wide exposure would change the perception tremendously, which puts Lola in the number 1 spot when it comes to anti ageing.
This will result in consumers trusting Lola and is naturally drawn in purchasing Lola. By doing so, the rebinding and perception objectives would be achieved. 6. Campaign Budget The group has decided to use Percentage-of-Sales budgeting method to determine the total amount needed for the whole marketing campaign. In this method, Lola simply establish the budget as a fixed percentage of past or anticipated sales volume. (Shrimp, 2010) After which, the Objective-and-Task budgeting method will be implemented.
The Objective-and-Task budgeting method is the most sensible and dependable advertising budgeting method – specify what role Lola expects advertising to play for Lola Total Effects and then set the budget accordingly. (Shrimp, 2010) In this marketing campaign, the objective is to rid the stigma that only matured women uses Lola Total Effects and to create brand awareness and enhancement. 80% of the budget will be allocated to focus on ridding the stigma and to emphasize on younger women. 15% of which will be allocated to creating brand awareness and the last 5% to sales promotion.
Advertising I Guerilla Marketing I Free Samples Giveaways I Beauty Contest I Road Shows I Magazines for Young Women I Road Shows I Billboards on MR. stations I Skin Analysis Booth in Health ; Beauty stores I Billboards on MARTI Skin Analysis Booth in Health ; Beauty I I Commercials in Cinemas I stores LOLA Flashbulb I Guests Floggers I I TV Advertising I Magazines for Young Women I Skin Analysis Booth in Health ; Beauty stores I I 6. 1 Budgeted Costs Media Channels I Period (For the year 2013) | Sizzle Production Cost I Advertising Rates I Total I TV Ads 1 1st October – 31st December, Moon – Fri. | 30 seconds I Est. 7,000 | $2, 400/ day | $151,000 | women Magazines (DAYS, sleekly, CLEO, FEMALE, WOMEN’S WEEKLY) I October to December Issues I Full page color. Outside back cover. I Est. $2,000 | $5, 700 (weekly)$6, 000 (weekly)$10, 150 (monthly)$7, 140 (monthly)$9, 655 (monthly) | $119, 935 | Cinema Commercials (XV) 1 1st October – 31st December | 30 seconds I (Same ad used forth) I $1275/ week/ hall | $34,425 | Road Shows 1 25th -27th cot 13, 29th – 1st Deck’ 13 (Fri., sat and sun) I On weekends at MAC Civic Plaza I Est. 250,000 | NIL | $250, 000 | Billboards/ Decals on MR. Stations 1 1st October – 31st December I Orchard, Somerset, Catchall I Est, $8,000 | $12,000/ week/ station | $440,000 | Internet 1 1st June to 31st December I Lola Website, Faceable, Youth, Twitter ND Instating I NIL I NIL I NIL I Guerilla Marketing 1 1st October – 31st December I Mirrors in women’s restrooms; WA, 01, TM I Est. $6,000 | Est. $5, 000/ month/ level for a mall | $186,000 | Petty Cash (Standee for booths/ free samples/ 1 1st October – 31st December | 1) Watson, Guardian, SASS, road show (40 etc) stores in total)2) sample packs | $250/ standee$O. 0/ sample pack I NIL I $ 510, 000 + $8, 640 (extras for Just in case situations) I Grand Total I 7. Campaign Target Audience 7. 1 Brand Loyalty Lola targets consumers who are mainly at the age of 24 – 35, who falls under Generation X. Members of the generation X are deemed to be more individualistic, technologically adept, flexible and value work-life balance (Sally K, 2013). Since this group of people is recognized for its well adaptability to changes, they are less committed to a brand and prone to brand switching, considering other brands that offer more benefits to consumers (Sally K, 2013).
From the above mentioned, Lola should create a comprehensive MIMIC plan that enables messages to be sent across to target audiences by different media in a specific time period. 7. 2 Creative Targets Roles I Description I Examples I Initiator I Initiators are individuals who first recognize the problem. I In the perspective of TOTE, dermatologist and esthetics’s usually play the role of an of product information to the decision maker. I Marketers are the gatekeepers who decide what information they would like to deliver to consumers.
I Influencer I Influencer are individuals who could influence buying decision. I Collaborating with famous floggers and hiring brand ambassador, like Michelle Pan, to drive consumer interest in TOTE, acting as the influencer to the product. I Decider I Deciders are the people who make the final decision of a purchase. I The target audience of TOTE is the decider. I Purchaser I Purchasers are people who purchase the products or services. I In the case of TOTE, purchaser can be anyone, from people who do not use the product to people who use the product.
I User I These are the people who will be using the products or services that was purchased. I The target audience of TOTE is the user. I (Table 1. 1) When it comes to MIMIC planning, it is essential to identify who are involved in the decision making process. This involves the six different roles in the creative target shown from the above table (Krishna K, 2005). (Table 1 . 1) 7. Behavioral Sequence Model (BSM) Need Recognition Information Search Evaluation of Alternatives Purchase Decision Post-purchase Behavior (Table 1. ) The behavioral sequence model (BSM) “A planning tool that looks at how decisions are made and the roles people play in the decision process. ” (Larry P, 2008). The five decision stages in the BSM are, Need Recognition, Information Search, Evaluation of Alternatives, Purchase Decision and Post-purchase Behavior, as seen from the above table. (Table 1. 2) Need recognition stage represents the phase where individual recognizes an unmet need (Larry P, 2008). When these people realized there is a discrepancy between current skin condition and desired skin condition, they will see a need to purchase skincare products.
In the next stage, information search, various marketing stimuli stimulate consumers’ interest, thereby maximizing consumers’ desire to seek out information through different forms of communication tools, for instance, TV ads, print ads, road-show events, and so forth (Charles W. 2011). After obtaining relevant information, consumers will go through the stage of evaluating alternatives, where consumer evaluates a diverse range of skincare reduces which falls under the evoked set, seen under table (positioning).
Subsequently, consumers will determine certain attributes that have the abilities to satisfy their needs. Such evaluation aids consumers on final purchase decision, which involves the brand and type of skincare product consumers want to buy and dissatisfactory faced by consumers with their purchase. In this stage, Lola has to consider doing close follow-ups with current consumers to build long-term customer relationship. 8. Choice of Media 8. 1 Traditional Advertising I. TV Commercials
To have advertisements during a television commercial break is one of the best ways to get maximum reach of the target audience within a short period of time. Although it is also the most expensive form of advertising, but it promises its high returns. Lola Total Effects’ advertisement would be scheduled at the last commercial break, the last advertisement before start of the last 15 minutes of the PM drama series on Mediator’s Channel 8. (Fig. 2. 7) it. Magazines for Young Women (Print Advertisements) To get rid of the stigma, TOTE would be advertised on trendier magazines targeting at younger women.
A few examples of such magazines would be “8 DAYS”, “I WEEKLY and “CLEO” magazines. Since young females aged 20 to 29 makes up the main readership of such magazines, TOTE can “leech” on this factor and bring brand awareness to them and try to alter their perception of TOTE. On the print advertisements on the magazines, there will also be free samples of the TOTE for the readers to encourage trial. (Fig. 1. 7 & 1. 8) iii. Commercials in Cinemas A short advertisement also similar to the one played on television, would be played in cinemas before the movie starts.
This form of advertising would be better and more efficient than on television to a certain extent because people, the movie goers will be “forced” to watch the commercials while the people who are watching television, can choose to switch channels when commercials are played due to lack of interest. The cinemas also has a wide audience range from people as young as 15 to 34. Watching movies is among the top popular recreational activities to do in Singapore. Hence, TOTE utilize this factor to introduce TOTE to the younger crowd. (Fig. 2. 7) lb.
Road Shows Road shows can help create awareness by arousing the curiosity of passersby and attract them over to the booth. It also creates publicity, as it could be a word-of- mouth topic for passerby. It also enhances trial use of TOTE, as samples would be given away for free (Fig. 2. 3). The main objective of having a road show would most probably to be able to advocate and to educate consumers, and allowing them to have a better understanding of TOTE with the programs planned for the road show. V. Billboards/ Decals on MR. Stations There would be decals stuck on the glass doors of selected MR. Stations.
Stations like Orchard, Somerset and Catchall. These are the major central and interchange stations loud occur when a person waits patiently for the train at the doors. Imagine during peak hours, with the number of people waiting for trains, the amount of exposure occur will be significant. (Fig. 1. 9, 2. 0 & 2. 1) VI. Skin Analysis Booth in Health & Beauty Stores (Watson, Guardian Pharmacy & SASS) As evident as the title described, there would be a booth each set up in Watson, Guardian pharmacy and SASS stores.
There will be an Lola Skincare professional scheduled at the stores, doing analysis for the shoppers and enticing them to purchase try TOTE to try. Sample sizes of TOTE will also be given away for trial SE. This skin analysis booth will only be activated during the weekends (Friday – Sunday) for the whole of the 3-month long marketing campaign. (Fig. 2. 5) 8. 2 Modern’ or Online Advertising vii. Social Media Platforms Besides the traditional advertising, there would be advertising on the World Wide Web too. Social media platforms like Faceable, Twitter, Instating, Youth and Lays own website.
These platforms would be constantly updated with news and happenings of TOTE on and off the campaign. They are a form of 2 ways interaction advertising. A 2-ways advertising would be more effective as consumers may feel that hey are important and cared for, as their needs and wants can and will be recognized by Lola with the interaction. With today’s advancement in technology, it is hard not to be tech-savvy. People are increasingly dependent on technology. With this, people could be easily reached. From maps to finding a good restaurant, from reading to socializing – these could be done easily with the help of a smart phone.
However, on the World Wide Web, people are selective to what they want to expose themselves to. People might click on Tote’s commercial on Youth and watch the full-length commercial because that is what they are keen on. But if they do not have any slight interest in it, they can choose to skip it or worse, they would not even come across to it. While on the other hand, on Faceable, one person may post it on their Faceable wall and his Faceable friends would then be exposed to it. Viii. Guest Floggers With the advancement in technology, more and more consumers tend to spend a lot of time online.
There is also a trend in the younger consumers including generation y, where reading blobs has seemingly become an interest and activity to do while on the Internet, especially amongst young women. There are blobs that talk about almost anything and everything including health and beauty lifestyle. That is why, blobbing has become popular and it is a very powerful tool in marketing. Thus, several “hot” and popular floggers would be chosen to blob about TOTE on their blob so that their readers will be exposed to it when they enter the blobs. ‘x.
Guerilla Marketing This is perhaps, the most interesting, most fun and engaging form of advertisement. At times, it could also be the most cost efficient form of advertising. It not only attracts a great attention from people, but it creates hype and word of mouth from inline which aids in reaching to an even larger audience. In the context of Lola, there would be a type of sticker decals that would be stuck in the restroom mirrors of malls like Far East Plaza (FEE), Wigwams Atria (WA), Orchard ION (01), Tympanis Mall (TM) and Century Square (CSS).
Detailed explanation of these stickers would be explained in the later part of the report. (Fig. 1. 5 & 1. 6) 9. Creative Strategy 9. 1 Campaign Theme The campaign would be revolving around the theme: “Stay Fabulous at Every Age”. It is also Tote’s tagging. This short but sweet tagging is to relay a message to consumers hat it is possible to stay amazing, feel good and wonderful of oneself regardless of age or stage of life. 9. 2 Share of Market Share of voice refers to how much a firm spends on advertising relative to other brands in the category.
As the share of voice increases, the market share increases too. As the number one skincare brand in the world, evidently, Lola has a high market share. (Proctor & Gamble, 2010) However, the competitors’ share of voice is high too especially when in such a saturated skincare market. Therefore, this also means Lola should make a higher investment to defend and sustain its positioning in he market or more ideally, to increase its market share. 9. Creative Idea In this campaign, besides the common advertising; television advertisement, print advertising on magazines, MR. billboards, online advertising and free sample giveaways, the main focus would be the road shows, guest floggers, guerilla marketing (sticker decals in the restrooms at major malls), and flash mob. The idea here is to create a young, lively, energetic yet classy image for the brand – TOTE, and to relay the message that anti-aging skincare products are not Just for the aged. Prevention is always better than cure but in this sense, delaying aging process on the skin.