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People form a vital component in the product mix. They denote the consumers of Niveas array of cosmetic products. The entity has adopted a consumer-led approach. Hence, its policies in product development are channeled towards meeting the clients needs.
Nivea consumers are diverse concerning their needs. Accordingly, they can be classified into two key classes. First, there is the young generation mainly constituted by teenagers. These consumers require certain cosmetics that will enable their skin to grow healthily.
This segment of the clientele requires trendy products. As such, Nivea has to constantly rebrand its products that target this segment. Their older counterparts are after products which will maintain their skin in the right condition.
This class entails women whose age bracket is from the mid-twenties going upwards. They buy most of their products from supermarkets.
Most prefer established product, but they do not shy from trying out new products. Understanding the clientele is vital since it will enable an entity plan accordingly.
In the current corporate world, the consumer has become a god. Hence, entities efforts are largely focussed towards meeting the customers needs. If entities fail to meet their clients needs, they will lose some of their customers.
Owing to this, most corporations have adopted an approach that is consumer-led. This approach focuses primarily on the clients needs. A company utilizing this approach will utilize market research to know what the customers want to form their product.
Market research has become a vital undertaking in entities that constantly rebrand and launch products. It provides invaluable information which is utilized in product developments and promotion.
Overall, a consumer-led strategy aims at focusing the entitys efforts towards winning over the clients by the value transferred to customers.
There are four components in a product mix. They include product, promotion, price, and place. The product denotes the merchandise that will be availed to the clients.
However, companies have to maximize their sales volume. As such, they undertake promotion which promotes the popularity of the product.
Moreover, the promotion also ensures Nivea or any other entity maintains its market segment. The product has to be availed in the proper location which is convenient to the target consumer. In the above case study, the supermarket is the best location.
The price denotes the money the consumer pays for the value they will receive once they utilize the product. If the price is unreasonable, the product will perform poorly.
A balance in the product mix is vital. It will ensure that none of the vital aspects of the product mix is overlooked. A balance ensures that an entity undertakes appropriate measures to ensure that the four components have been put up appropriately.
Failure to maintain a balance would culminate in an ineffective marketing campaign which would result in the underperformance of products. Maintaining a balance in the product mix is crucial and requires shrewd allocation of resources.
Nivea Visage Young is a product which targets young people. The product seeks to ensure that young people have a product from Nivea which will ensure their skin grows healthily. The product has been availed in many places such as supermarkets.
Additionally, the company has made appropriate measures to transport the product. The price model adopted has ensured that the entity can cover its cost and maintain an appropriate profit margin.
Promotion is the strongest aspect of Nivea visage youngs marketing mix. The entity has popularised its product via advertisements, free samples, and free trials. Such a strategy has ensured massive sales maintaining Nivea as one of the market leaders.
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