Marketing plan
1. Background
Innisfree is a natural brand that shares the benefits of nature from the pristine island of Jeju allowing for vibrant beauty and pursues an eco-friendly green life to preserve the balance of nature. Innisfree’s snail mask, which is our new product, is this marketing plan’s character. Snail Mask is very popular and its market growth is stable because snail mask is very useful to protect and repair the skin. Our target market is the middle class and the reaches of customers are both female and male. Also, age distribution is about 21 to50 years old. Besides, the competition of the marketing is come from different countries such as Etude house, Nature republic in Korea, Shu uemura Shiseido in Japan and Lancôme, Estee lauder in America. Therefore, the competition of marketing is extremely competitive.
2. The SWOT analysis
Strength:
1) Our product’s formula is unique – unlike other brands.
2) Use 3 years for research and development this snail mask.
3) The ingredients of our snail mask are in high quality.
4) Our factory has many large-scale machines – we can have mass production.
Weaknesses:
1) The selling price is high as the production cost is high.
2) The package of our snail mask is not attractive.
3) We cannot throw a lot of money and resources of this product as our company has many other skincare products.
Opportunities:
1) Rising of South Korean fashion – Hong Kong people are affected by the Korean dramas, pop music and idols.
2) Increase the confidence of buying Korean skincare products – good public reputation
3) Men now pay attention on their images and start to protect their skin by using skincare products.
4) Hong Kong women’s purchasing power on skincare products is high.
Threats:
1) The rising rate of currency rate (RMB) – the manufacturing cost become higher and higher as our factory is set in mainland.
2) The weather condition of Hong Kong is not as dry as South Korea. People may not use our snail mask frequently.
Innisfree is a natural brand that shares the benefits of nature from the pristine island of Jeju allowing for vibrant beauty and pursues an eco-friendly green life to preserve the balance of nature. Innisfree’s snail mask, which is our new product, is this marketing plan’s character. Snail Mask is very popular and its market growth is stable because snail mask is very useful to protect and repair the skin. Our target market is the middle class and the reaches of customers are both female and male. Also, age distribution is about 21 to50 years old. Besides, the competition of the marketing is come from different countries such as Etude house, Nature republic in Korea, Shu uemura Shiseido in Japan and Lancôme, Estee lauder in America. Therefore, the competition of marketing is extremely competitive.
2. The SWOT analysis
Strength:
1) Our product’s formula is unique – unlike other brands.
2) Use 3 years for research and development this snail mask.
3) The ingredients of our snail mask are in high quality.
4) Our factory has many large-scale machines – we can have mass production.
Weaknesses:
1) The selling price is high as the production cost is high.
2) The package of our snail mask is not attractive.
3) We cannot throw a lot of money and resources of this product as our company has many other skincare products.
Opportunities:
1) Rising of South Korean fashion – Hong Kong people are affected by the Korean dramas, pop music and idols.
2) Increase the confidence of buying Korean skincare products – good public reputation
3) Men now pay attention on their images and start to protect their skin by using skincare products.
4) Hong Kong women’s purchasing power on skincare products is high.
Threats:
1) The rising rate of currency rate (RMB) – the manufacturing cost become higher and higher as our factory is set in mainland.
2) The weather condition of Hong Kong is not as dry as South Korea. People may not use our snail mask frequently.