annotated-Principles%20of%20Marketing%20Group%20Assignment%20%28Marie%20Monday%2012pm%20Group%204%29

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Apr 3, 2024

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1 Marketing plan for Libra Subject Code: MKTG10001 Subject Name: Principles of Marketing Tutorial Day/Time: Monday 12pm Tutor Name: Marie Trbovic Assignment Name or Number: Principles of Marketing Group Assignment (Group 4) Number of words (excluding cover page, executive summary (abstract), tables, figures, diagrams, table of content, references and appendices): 2197 words Student ID Number Student Name 1. 1179053 Nadia Amira Binti Sharin 2. 1271272 Kelly Yang 3. 1127375 Zhi Xuan Bee 4. 1191774 Kevin Josua Nathanael

2 0. Executive Summary Libra is the only Australian-made feminine hygiene brand that sells a wide range of period care products through their online website and major supermarket chains located in Australia and New Zealand. This report will critique Libra’s current marketing strategies and will also propose redesigned distribution and integrated marketing communication (IMC) strategies. The chosen target customers for this report are social young women ranging from ages 18-24, whose purchasing decisions are largely influenced by social media trends. The redesigned distribution strategy for Libra’s distribution will include weekly pop-up stores in Autumn yearly to replace their current direct online sales to reduce dissatisfaction received from indirect retailers. Furthermore, Libra’s distribution channel length will be extended. New retailers such as lingerie and women’s clothing stores will be added to spread the distribution across more locations, ensuring young social women can access products conveniently and comfortably. Libra’s IMC redesigned strategy will utilise various media mixes to appeal to young women who are social- media active. These include YouTube advertisements and TikTok Trends (shared media), as well as hosting cocktail events (earned media) and giveaways on Instagram or Facebook (owned media). These strategies would educate consumers on period stigma, while increasing brand awareness and promoting their pop-up stores through celebrity endorsements (paid media). Although the implementation of the distribution and IMC redesigned strategy may be costly, there will be an overall financial benefit in the long-run. Other parts of the strategy are inexpensive to administer and will be effective in boosting sales. With regards to the environmental perspective, a shorter distribution channel will decrease the amount of transportation for delivery of products, reducing the amount of environmental pollution around Australia as there would be less emission of air pollutants by transportation vehicles.

3 Table of contents 0. Executive Summary 2 1. Introduction 4 1.1. About the Brand and Market 4 1.2. Report Purpose 5 1.3. Current Marketing Strategy 6 1.4. Project Timeline 9 2. Target Audience 10 2.1. Target Segments 10 2.2. Trends Shaping the Market 12 2.3. Target Customers 12 2.4. Buyer’s Profiles 13 3. Redesigned Marketing Strategy 14 3.1. Conceptual Map 14 3.2. Redesigned Distribution Strategy 15 3.2.1. Commercial Value and Brand Equity 16 3.3. Redesigned IMC Strategy 17 3.3.1. Commercial Value and Brand Equity 19 4. Future Scope 20 4.1. Financial Perspective 20 4.2. Ethical Perspective 21 5. Reference List 22 6. Appendices 24 6.1. Appendix A: Growth of the feminine hygiene product market 24 6.2. Appendix B: Popularity ranking of social media networks 25

4 1. Introduction 1.1. About the Brand and Market The report's purpose is to analyse the brand Libra and redesign their marketing strategy to increase brand awareness and competitiveness while combating period stigma. Libra offers different product ranges and is the only Australian-made feminine care brand (Libra, 2021a). Their products are versatile, with different products available for day-time, night-time or sport use. The company aims to empower women in living their best lives by offering a range of sanitary products and supplying everyone with useful information to deal with periods. The global feminine hygiene product market is often overlooked but is one of the most important markets in the world (Appendix A). Some current leading players in the market include Kimberly-Clark Corp, Johnson & Johnson, Ontex, and Unicharm Corporation (Mordor Intelligence, 2020). These companies and Libra’s positioning in the feminine hygiene markets are presented in Figure 1.

5 Figure 1 Perceptual Positioning Map of Feminine Hygiene Brands 1.2. Report purpose The selected marketing challenges for this report are distribution and integrated marketing communications (IMC). The distribution challenge investigates how Libra can modify its distribution channels to increase value for consumers, channel partners, and the company. This challenge is important as Libra can create cost-efficient ways for girls and women to conveniently access period care products when required, without facing exposure to period stigma. Furthermore, increased online product demand due to the

6 COVID-19 pandemic has led to delayed deliveries which are negatively affecting Libra’s customer experience. The IMC challenge explores how Libra can communicate as a company that understands and opposes period stigma without alienating customers. This challenge is important as period stigma is an issue for women globally, and there are consequences to producing marketing strategies that receive customer backlashes, such as damage to brand image and profit. In their redesigned strategy, Libra will mainly focus on social young women (age 18-24) and introduce distribution and IMC strategies that largely influence consumer purchasing behavior to increase customer reach. 1.3. Current marketing strategy The marketing strategy that Libra currently uses could be explained using the 4Ps of Marketing, a model describing the marketing mix that organizations approach in marketing their goods or services, which includes product, promotion, pricing, and place (Hisrich & Ramadani, 2018). Product Libra provides a range of products with variants to suit consumer needs. These products as well as other services can be divided into three product layers, shown in Table 1.

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