MANAGEMENT DEVELOPMENT INSTITUTE OF SINGAPORE
UNIVERSITY OF BRADFORD
DIPLOMA IN BUSINESS MANAGEMENT
COURSE DBMD2 1278B
PRINCIPLES OF MARKETING ASSIGNMENT
GROUP MEMBERS
NO | NAME | FIN NO |
1. | LIM SOUMEY | G1093779K |
2. | LOR KIM HEANG | G1093457K |
3. | KHUN SREY NET | G1090968L |
4. | KEE YONG CHEN | G7664242M |
DATE: 13 JUNE 2012
Name of Lecturer: Suandi Andy
Table of Contents
BACKGROUND 3
INTRODUCTION 3
MARKETING MIX 4
Product 5
Price 8
Promotion 8
Place 10
MARKET SEGMENTATION 11
Geographic segmentation: 12
Demographic segmentation: 12
Psychographic segmentation: 13
Behavioral segmentation: 13
FACTORS INFLUENCING CONSUMER BUYING ...view middle of the document...
In the following year, Estée Lauder was a subject on the TV documentary stating Estée Lauder - The Sweet Smell of Success. It was quoted that “I have never worked a day in my life without selling. If I believe in something, I sell it, and I sell it hard” said by Estée. (Lauder, E. 1985).
INTRODUCTION
Estée Lauder is one of the world's leading a manufacturer and marker of quality in term of cosmetic, skincare, fragrances and hair-care products. Estée Lauder branches their store only at the elegant shopping mall or department store, the headquarters are in the New York City. Currently, there are 29 brands under the Estée Lauder which are Estée Lauder itself, Clinique, La Mer, Aveda, Bobbi Brown, Tommy Hilfiger, Donald Trump, Donna Karan, Michael Kors, Sean John, Daisy Fuentes Aramic, Missoni, Prescriptives, Origins, Lab Series, MAC, Jo Malone, Darphin, Bumble and Bumble, Rodan & Fielfs, Flirt, American Beauty, GrassRoots, GoodSkin and others which sell in over 140 countries.
In the early year, Madison Avenue was refused carrying the Estée Lauder products that was convinced by Mrs. Estée. Due to this failure offer, she started to market her products to the customers face to face and later on in 1948, the first department store own by Estée Lauder was established. Owing to the success of marketing the products directly to the customers, Mrs. Estée began targeting the high-class customers by selling the products exclusively through boutiques and elegant mall. In 1960, they turned out to be the first major cosmetic company offering the online shopping. Today, Mrs. Estée Lauder's first son and her grandchildren are taking in charge after Mrs. Estée passed away in 2004.
The objective of this report is to analyze the marketing mix of Estée Lauder which is about the 4Ps-Product, Price, Place and Promotion. After analyzing the marketing mix, we also identified the concept of market segmentation of a product that we have chosen. Then, we classified the concepts of each of the factors affecting consumer buying behavior. Last but not least, we have gone through of how to target the consumer, to position the products in the market, to incorporate the buyer behavior into our recommendations and how to communicate these products.
MARKETING MIX
First of all, it is important to understand the term of marketing mix. Marketing mix defined as “a set of controllable marketing variables that the firm blends to produce the response it wants from the target market” (Kotler, 2008). It acts as a set of tools that a market company uses to influence consumer awareness toward the products or services so that both consumer and organization aims are achieved. Marketing mix consists of 4 elements or 4Ps, which are:
1. Product
2. Price
3. Place (distribution)
4. Promotion.
Throughout this report our group would use Estee Lauder as the selected product and brand name. We will discuss how this company diverse its market product, the...
