Marketing Principles - Concepts and Strategies

Question: Discuss about the Marketing Principles, Concepts and Strategies. Answer: Introduction The aim of this report is to analyse the marketing concepts and strategies adopted for the chosen brand Nivea. The paper addresses the segmentation, targeting and positioning variables that is offered or conveyed to the customers. Analysis of Segmentation Variables Market segmentation is a concept that divides the market into smaller sub parts or segments for the consumers having similar demand or preference. The five main bases for Nivea are: Geographic segmentation- It is a way to segment market on the basis of a certain geographical area. Based on market widespread, Nivea products have market worldwide. A range of lotions and sprays are suitable for different climates and people across the globe. The products of Nivea are geographically distributed and available in semi-urban and urban areas. The people living in semi-urban and urban areas are more inclined towards using products that protects their skin. Therefore, marketing is done keeping such geographical locations on mind (Kang et al. 2013). Demographic segmentation- It is a way to segment market on the basis of age, income, gender, education, and other demographics. The products of Nivea are suitable for all ages. The product variants available suit and meet the needs of children, teenagers, youth and elderly people as there is no age barrier. Both men and women use Nivea products. The products are suitable for the people having middle-class and upper level income as the products is mid-ranged to high-ranged. The educated people usually consume Nivea products as they may be convinced for skin protection (Chung et al. 2016). Psychographic segmentation- Based on the psychograph, the market is divided on the basis of values, personality and lifestyle of the people. Due to affordable pricing, Nivea is able to target almost all the market segments. The brand appreciates skin protection and the consumers having attitudes of skin protection are the primary consumers of Nivea (Khojastehpour, Ferdous and Polonsky 2015). The people following a healthy lifestyle who want to protect their skin use Nivea products. The beauty conscious people buy luxurious climate protection products while the concerned consumers purchase functional products with adequate skin protection (Bose 2012). Benefit segmentation- It is related with division of market based upon perceived benefits and value provided by the brand or products. The approach rests upon the concept how a brand can design its products for the customers so that maximum benefits can be derived. People consume Nivea products as they sought benefits from it (Izberk-Bilgin and Nakata 2016). The product protects people from harmful sun radiations or winter dryness. Children, men and women are protected from the climate changes that damages skin (Hollensen 2015). Usage-rate segmentation- It is concerned with the frequency and weight of usage of products. The products of Nivea are consumed frequently by the consumers as it offers products for every climate or occasions such as outdoor sports, holiday, party, gardening, working and others. The consumers find the right kind of Nivea products for any occasion (Bartsch et al. 2016). Analysis of Targeting Strategy A targeting strategy is a marketing concept that involves focus on certain traits of consumers. Nivea follows differentiated targeting strategy in which it creates campaigns and targets two or more market segments. Both men and women are targeted by the brand. Nivea uses different promotional messages for different market segments (Mullins and Walker 2013). The consumers who have an attitude and healthy lifestyle are the main consumers of Nivea. The brand offers products for skin protection for men, women and children of all ages. The people are educated with the benefits and usage of the product so that more market segments can be covered by the brand (Devinder Pal Singh 2016). Analysis of Positioning Bases A market positioning strategy can be defined as a market position that a business does or must do for marketing products. The brand offers high quality and innovative skin products at affordable prices. Nivea is categorized into functional positioning that deals with solving a problem and getting a favourable perception of consumers. The brand addresses the issue of skin care for the consumers. The product is perceived as solving issues and protecting the skin from damage. The brand has a high value image in the minds of target consumers and it focuses more on competitive positioning (Lantos 2011). Conclusion Conclusively, Nivea has various market segmentation bases based on demography, usage-rate, geography and others. 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