A Marketing Plan for Successful Market Entry Essay - 2

A Marketing Plan for Successful Market Entry - Essay Example Since demand for beauty soaps has augmented in the global context and LUX enjoys high reputation in producing beauty soaps, the essay will give evidences to stress on the fact that most competitive strategy of the firm is to launch a new anti-acne whitening soap in the existing markets. LUX is a company that has primarily engaged in production of beauty soaps since its inception in 1899. Though the company operates in almost all nations of the world, yet from its marketing audit, it is found that products of the company are at the declining stage of product life cycle. So, if the company desires to succeed in the long run, it must introduce appropriate marketing strategies in business. With the help of an appropriate marketing plan, the company would gain a clear idea about key marketing elements to be considered in its business and hence, be able to focus on desired business progressive objectives. The current report focuses on a marketing plan for the company. This plan would allow the company to frame productive strategies by virtue of which it would be able to successfully launch products in new markets and also improve quality of products in the existing markets. The marketing plan of the company would be a broader perspective than it simple business plan. Mor eover, this will also help the firm to comprehend problems associated with its existing marketing mix strategies. At this juncture, where giant multinational companies like, ITC and Palmolive, are competing with LUX on the global forum, role of a marketing plan for the company is indispensable. With the help of a marketing plan, LUX in the long run would become a profitable member in the business world. The aggregate revenues and brand awareness of the company would eventually increase. With the help of the plan, LUX would be able to effectively achieve its business