Dove †Objectives of Marketing Plan & Pricing Strategy Essay

Setting objectives for a trade plan is not simple and straightforward matter. It is an iterative process whereby objectives ar set, strategies and action plans are developed, and then it is decided whether the planned objectives are impossible, achievable or easy. Marketing objectives should be difficult, unless they must be achievable. The aim is to set objectives that a challenge, but can be achieved with effort. They must be motivating rather than discouraging. (Westwood, 2002). To be useful, the stated objectives should meet several criteria which are known as SMART objectives. Specific, Measurable, Achievable, Realistic, Timed gibe to Marketingteacher.com (2012), the purposes of SMART objectives includeTo enable a company to control its marketing plan.=To help to motivate individuals and teams to reach a common goal.To provide an agreed, consistent taper for all functions of an organization.Doves Marketing ObjectivesAccording to Marketing blendx.com (2012), Dove develops it s marketing objectives very carefully as it is devoted to expand the definition of beauty for the moderateness that they believe real beauty comes from your inner self. The Marketing Objectives of Dove areTo increase sales by 40% in upcoming 1 year.Providing a boost to its brand image.Broaden the image as a beauty care providerIncrease the number of retail outlets selling dove products by 250 within 12 monthsPRICING STRATEGY hurt is the exchange value of a product or service, always expressed in terms of money. on that point are costs to produce and design a product, to distribute a product, and to promote. Price must support these instalments of the mix. Pricing is difficult and must reflect total relationship. Price is the only element of marking mixes which sales revenue. Price is a powerful marketing instrument. It is often the most flexible of the four marketing mix elements. Price is a critical element in the marketing strategy of the industrial marketer and should always be viewed in the context of that marketing strategy. Price interacts with all other elements of the marketing mix to determine the effectiveness of each and of the whole. The objectives that guide determine strategy should be a subset of the objectives that guide overall marketing strategy.Thus, it is probably wrong to view price as an independent element of marketing strategy or to assert that price, by itself, is a central element in the marketing mix. (Webster, 1979) In Dove, we use three types of strategies. Namely, Competition-based pricing, Product line, Product Bundle pricing. Competition-based pricing is setting a price in comparison with competitors. surely a firm has three options and these are to price lower, price to same or price higher.For standard Dove Damage Therapy lave (700 ml) cost $11.70 versus Pantene Shampoo (700ml) cost $10.90 in FairPrice. Product line pricing is pricing different products within the same product range at different price points. For examp le Dove Beauty Moisture Body Wash (1L) cost $9.75 versus Dove Firming Moisture Body Wash (1L) cost $10.70 in FairPrice. Product Bundle pricing means offering a group of related products at a combined low price, so as to get rid of slow piteous products. For example, Dove charges $7.50 for a bottle of Dove Beauty Moisture Body Wash and $13.90 for a bundle of two bottles at CK Departmental Store.REFERENCESWestwood, J., 2002, The Marketing political platform A step-by-step Guide. 3rd ed., London, Kogan Page Limited, p 101. Teacher, M, 2012, SMART Objectives online, England, Marketing Teacher, on hand(predicate) from http//www.marketingteacher.com/lesson-store/lesson-objectives.html. Last accessed 27th May 2012. Seher, T., 2012, Marketing Plan of Dove online, Marketing Mix, Available from http//marketingmixx.com/marketing-plan-2/181-marketing-plan-of-dove.html Last accessed 27th May 2012 Webster, F., 1979, Industrial Marketing Strategy, 3rd ed., Canada, John Wiley & Sons, Inc, p 190.