Company Description
Aloe trademark will be a valuable asset for the business. It is important for building the necessary public goodwill and brand reputation in the company products. The trademark is “Latex”. It is a descriptive mark representing that the products the company sells contain aloin. Aloin is the plant content in pericyclic cells of Aloe Vera plant that makes Aloe Vera a medicinal plant (Wyk, 2011). The color green will be the package design mark. This color is the best for the marketing activities of the company because green symbolizes nature and health. Aloe Vera is the main company ingredient, and it grows naturally in the fields. This will help customers identify the company products. The green color will be combines with yellow and white to differentiate the company products from those of competitors. The slogan will be “prove the natural effectiveness”. The logo will be the shape of one of the Aloe Vera plant with an umbrella on top and will maintain the green color. The umbrella will signify protection (Iacobucci, 2012).
Target Market
Customers
Aloe Company will target individuals, families, and businesses. The target consumer will be of all ages, but the products will differentiate the age groups in each product. For example, the products for dry skin and makeup will target consumers between 10 and 65 years. The products for treating cough and headache will target consumers between 10 and 50 years. This will help the company target a large market share that is necessary for growth of the business. The company will target consumers with high education levels, such as university graduates and the working class with high levels of income. The company products will target the wealthy in the society because they have disposable income to spend on a quality product. This will help build a strong image, reputation, and pride of associating with the product extremely fast. This will also help attract the middle class in the future, which will essential for the business at the time. The company requires high financial capability in the future in its efforts to become global. The middle class will provide the market share and product demand that the company will need in the future (Proctor, 2000).
Aloe Company will design its products as both medicinal and luxury products. Aloe Company will target both male and female consumers. Aloe Company recognizes the need to improve medicinal products. The company will offer products for different diseases that range from cancer, diabetes, immune system deficiencies, headaches, and arthritis. The increase in diabetes and cancer across the world will increase demand for the company products. The company will offer a different set of medicinal standards that will attract hospitals to purchase the company products. Aloe Company will also target other businesses that need medicinal products, such as salons (Luther, 2011).
Market Size
Wyk (2011) identified that the global market for products made from Aloe products is estimated to be $13 billion. Commercialization of Aloe Vera products has been successful for many years. Products that contain Aloe Gel are available everywhere in the world. Many industries have entered the market offering cosmetics, beverages, food, and dietary supplements. The market has been booming in the recent years. This means that Aloe Company has the opportunity of attracting and maintaining a substantial market share in the global markets (Iacobucci, 2012).
Market Trends
According to Aloe Vera (CAS 8001-97-6) Market Research Report 2013 - Read What's Trending (2013), Aloe Company will take advantage of the increase in the demand of healthy products. The company will mainly use natural content, such as Aloe Vera and Aloe Ferox that will substitute products that are manufactured using harmful substances (A guide to the European market for medicinal plants and extracts, 2001). The increase in workplace stress, pollution, and consumption of fast food across the world will create a potential market for the company products. The company will offer a product that can be used to cleanse the body system and protect the body from harm caused by a stressful life, pollution, and junk food. The products will be rich in trace elements, vitamins, and minerals from natural Aloe plants to detox. The need for effective medicinal products will be satisfied by Aloe Company. The products will serve the purpose from healing wounds, improving joint flexibility and strengthening muscles, to curing diseases, such as cancer and diabetes. The company will also serve the purpose of satisfying the high need for effective hairstyling products and cosmetics, such as makeup and skin care products (Proctor, 2000).
Competitors
The main competitors for Aloe Company are Forever Living Product and Aloecorp. Forever Living Product has an exclusive range of products that comprise of natural products. The company has combined several natural products in making of their products. The company is based in India where there are plenty of Aloe Vera plants. The company has a strong financial capability and has been in the market for a long time. Aloe Company will offer quality products with different combination of natural contents. The company will target male consumers and athletic consumers who have been left out slightly and consumers looking for a change. The packaging will be unique and attractive. Aloe has potential of establishing its own market share (Luther, 2011).
Marketing Mix Strategy
Product Strategy
Aloe Company will make use of more than 90 natural plant species recognized globally to have effective medicinal elements. The products will be in different forms. There will be food supplements, foods, beverages, and cosmetic products. The medicinal products will be in the form of tablets and liquid form. The products will have a great taste that consumers can enjoy. A peach concentrated flavor will help attract the attention of consumers from the normal sugar concentrated products. The package designs will be unique and will contain adequate information for consumers to become aware of the importance of products to their health (Proctor, 2000).
Pricing Strategy
The pricing policy of Aloe Company will include 20 percent discount to hospitals to acquire market share of this potential market. The cost of production will be minimized to ensure that consumers acquire products that provide value for their money. The costs of production of each unit will be 80% of the price. This means that the company will acquire 20% profit. This pricing strategy is essential for building strong image for the company. The percentage of profits will be increased with time as the products penetrate in the market (Luther, 2011).
Distribution Strategy
Aloe Company will be operating in e-commerce websites and online shops. Customers will make purchases and the company will ensure that the products are delivered on time and at the place needed. The company will target wholesalers and retailers. The products will be manufactured in the domestic market but will be distributed to customers across the world. The supply chain will be managed by the company to increase efficiency of distribution and reduce costs of transportation for clients. This will be costly for the company, but it will be the only way to reach out effectively to the target markets. It will also help maintain strong relations and contacts with potential customers (Proctor, 2000).
Promotional Strategy
Aloe Company will use four promotional techniques that include advertising, promotion, public relations, and personal selling. The company will use public relations to generate interest of the public in the business. It will remind customers and give them the reason why they chose to use the product and support the business. Public relations will serve the purpose of developing a strong brand name, image, and reputation with customers and the market as a whole. The media has proved effective in creating appeal. Aloe Company will take the opportunity of introducing its products through the local and international media. Advertising will be used to attract the attention of the target markets. The company will ensure that the message is effective in influencing the target audience. The company will use billboards, business magazines, the company website, and television to advertise its products. Aloe Company will have sales promotion that will involve offering of discounts, gifts, incentives, and shopping vouchers. Personal selling will make use of the unique and beautiful packaging designs of products to attract consumers (Iacobucci, 2012).
References
A guide to the European market for medicinal plants and extracts. (2001).
Aloe Vera (CAS 8001-97-6) Market Research Report 2013 - Read What's Trending. (2013). M2PressWIRE,
Iacobucci, D. (2012). Marketing management. Mason, OH: South-Western Cengage Learning.
Luther, W. (2011). The marketing plan: how to prepare and implement it. New York, NY: AMACOM Div American Mgmt Assn.
Proctor, T. (2000). Strategic marketing: an introduction. Routledge: Routledge.
Wyk, B. (2011). The potential of South African plants in the development of new medicinal products. South African Journal of Botany, 77(4), 812-829.
