TABLE OF CONTENTS
1. Executive Summary … 3
2. Introduction … 4
3. Marketing Mix … 5
4. Ansoff Matrix … 8
5. BCG Matrix … 12
6. STP … 13
7. Promotion Strategies … 14
8. Conclusion … 16
9. Reference … 17
Nivea as is a leading skin care brand in the world. This report is based on how Nivea uses the various marketing strategies to improve their sales, create a brand name and promote their products.
Its starts with a brief introduction of what Nivea is. It further goes on to give the history of Nivea, and how Nivea has evolved ever since. The report further …show more content…
There are various strategies that a company can use to price of the products.
They are * Cost based pricing where the price covers only the cost and a small amount of profit. * Price Skimming where the product is launched at a higher price and it helps the business to gain the maximum profits before the competitors launch the same products in the market * Penetration Price is based on a initial low price so that the business can gain the maximum market share and high volume of purchase.
When Nivea re launched the Nivea Visage Young, it was launched at a higher price to reflect the new formulations, packaging etc. but they also had to keep in mind that the their target market was young girls and mothers of the young girls and the budget of this market would be very limited. The strategy that Nivea uses is that they sell their products to the retailers at a fixed price. The retailers there on can sell the products using their own sales promotions. By doing this nivea was a price leader which meant that the competitors would have to follw the same price or undercut their prices. Nivea Visages’ Young pricing strategy now generates about 7% of the Visage sales.
Place indicates how the products reach the markets that is the distribution channel and where the products are sold. Nivea makes sure that they use as many distribution channels as