About Fair & Lovely Ayurvedic
Fair & Lovely has extensively researched the fairness secrets of ancient Ayurveda and created a unique mix containing extracts of special Ayurvedic herbs. Its proven formula penetrates deep down your skin to give you a glowing fairness from within.
Indications:
New Fair & Lovely’s ingredients work in a unique three step action, based on proven ayurvedic principles:
1. Poshan (Nourishment): Haridhra and Ghrit Kumari for soothing and rejuvenating.
2. Raksha (Protection): Jast Bhasma for protection from the sun’s darkening rays and,
3. Naash (Purification): Kumkumadi Tailam for enhancement of complexion and curing discoloration of the skin giving you unmatched glowing fairness.
Direction for usage
For best results apply twice daily. For external use only.
What dose Fair & Lovely Ayurvedic contain?
Fair & Lovely Ayurvedic containsKumkumadi Tailam, an ancient fairness recipe of 16 precious Ayurvedic ingredients detailed in the ancient texts as the secret to a woman’s beauty.
Nilopala & Patanga
Soothe & relax skin cells, give a serene look.
Chandana & Ushira
Reduce skin irritation, give long lasting cooling sensation.
Manjishta & Kumkuma
Work from within your skin, reduce freckles & discoloration.
Laksa & Kumkuma (Kalkam)
Improve skin texture, highlight complexion naturally.
Padmakesara & Padmaka
Work like an astringent, give even toned skin.
Yashtimadhu & kumkuma (Kalkam)
Make skin glow, give visible radiance.
Ajakshira & Ksheera
Condition skin, give a soft moisturized feel.
Laksa (Kalkam) & Nyagrodhapada
Smoothen skin, give clear flawless skin.
Lodhra
Lightens skin colour, reduces skin irritation.
| Each 100gms of this ayurvedic cream contains: | |
| Lodhra Extract | 130 mg |
| Manjistha Extract | 300 mg |
| kumkumadi tailam | 100 mg |
| Jast Bhasma | 100 mg |
| Non-greasy Base | qs |
Clinically proven: for all skin types.Contains no bleach or harmful ingredients.
Proprietary ayurvedic (herbal) medicine
Target market:
Identifying the consumer target is important because different consumers may have different brand knowledge structures and thus different perceptions and preferences for the brand. Fair And Lovely Ayurvedic developed a market that is all of actual and potential buyers who have sufficient interest in, income for, and access to the product.
Market segmentation involves dividing the market into distinct groups of homogeneous consumers who have similar needs and consumer behavior and thus require similar marketing mixes. In the targeting market Fair And Lovely Ayurvedic focus mainly young male and female. So the young male and female is the main target consumer of Fair And Lovely Ayurvedic.
Fair And Lovely Ayurvedic chose to segment a market on the basis of age and targeted certain age group for the underlying reason why that age group may be an attractive market segment may be because they are particularly heavy user of the product, are unusually brand loyal, or are most likely to seek the benefit that the product is best able to deliver.
Competitors of Fair & Lovely Ayurvedic fairness cream :
Emami also has been launched fairness cream in Bangladesh market. So, Emami fairness cream is the competitor of Fair & Lovely Ayurvedic fairness cream.
Points of parity and point of difference of the Fair & Lovely Ayurvedic fairness cream
The points of parity are driven by the needs of category membership and necessary of negating competitors PODs in the terms of choosing points of difference. Broadly the two most important considerations are that consumer find the POD desirable and believe that the firm has the capabilities to deliver on it. If both of these considerations are satisfied, the POD has to become a strong favorable relationship.
Points of different: Compare to other fairness cream the points of different of Fair & Lovely Ayurvedic fairness cream are:
§ Ayurvedic formula
§ Focus on both the high and low income group.
§ Keep one physically fresh and mentally confident
§ Affordable for everyone
Competitive pop: Compare to other fairness cream the competitive pop of Fair & Lovely Ayurvedic fairness cream are:
§ Proprietary body-responsive technology
§ Packing of the & Lovely Ayurvedic
§ Body-responsive technology
§ Mild and gentle and dermatologically suitable for young skin.
§ Creating products and lifestyles that make a positive contribution to health for people.
Above are the some pop and the pod of Fair & Lovely Ayurvedic fairness cream . Creating a strong, competitive brand positioning requires establishing requires right point of parity and point of difference. The point of parity (competitive parity) and point of deference establish by Fair & Lovely Ayurvedic fairness cream which is relevance, distinctiveness and believability. It also sustainable, feasible and communicable toward the consumer.
SWOT ANALYSIS
A SWOT analysis is overall evaluation of the company’s Strengths, Weakness, Opportunities and Thereat. Strengths and Weakness are internal value creating (for destroying) factors such as assets weakness are internal value creating (of destroying) factors such as assets skills or resources etc. And opportunities and threat are external value creating (or destroying) factors a company can’t control.
Strengths of Fair & Lovely Ayurvedic
§ Fair & Lovely Ayurvedic factory is well equipped with skilled, and expertise and productive manpower. They are doing timely shipment and 100% perfect quality.
§ Experienced management team.
§ Ingredient are not harmful
Weakness of Rexona
§ Failure to establish the personal marketing
§ Short of marketing expertise
§ Not efficient in advertising.
§ Not efficient event marketing
Opportunities of Rexona
§ For ayurvedic formula the can enjoy the market share.
§ They can establish the relation ship marketing
§ Customizing their product they can enjoy the market share – they can add other ingredients based on customer preference
§ Industry convergence
Threat of Rexona
§ Environmental threat
§ Legal and political threat
§ Software failure and hardware failure
§ Threat toward the competitor
Determination of factor
To determine the secondary secondary factor that build brand equity, we have been conducted factor analysis. Here we took several secondary factor like Celebrity, Event, Channel of distribution. Effectiveness of three secondary factors was measured on a 5 point of scale ( a = Highly agree, b = Agree, c = Moderate agree, d = Less agree, e = Not agree )
No. of Respondent Celebrity Event Distribution
1 4 2 5
2 4 2 5
3 4 2 5
4 4 2 5
5 4 2 5
6 4 1 5
7 4 1 5
8 1 1 5
9 1 1 5
10 1 4 4
11 1 4 4
12 2 4 4
13 2 4 4
14 2 5 4
15 2 5 4
16 4 5 4
17 4 5 3
18 4 1 3
19 3 1 3
20 3 1 3
21 3 1 2
22 3 2 2
23 3 2 2
No. of Respondent Celebrity Event Distribution
24 4 2 2
25 4 2 2
26 4 2 2
27 4 2 2
28 4 2 4
29 2 5 2
30 4 2 4
31 5 2 4
32 5 2 4
33 5 3 4
34 5 3 1
35 4 3 1
36 4 3 1
37 4 3 1
38 2 3 1
39 2 2 2
40 2 5 2
Factor Analysis
A priori determination:
Priori determination means the researcher knows how many factors to expect and thus can specify the number of factors to be extracted before hand. For this report we do not use priori information about the number of factors.
Determination based on eigenvalues:
In these approach only factors with eigenvalues greater than 1.0 are retained, the other factors are not included in the model. In the report celebrity and event are retained because those eigenvalues are greater than 1.0
Communalities
| Initial | Extraction | |
| Celebrity | 1.000 | .754 |
| Event | 1.000 | .711 |
| Distribution | 1.000 | .889 |
Total Variance Explained
| Component | Initial Eigenvalues | Extraction Sums of Squared Loadings | ||||
| Total | % of Variance | Cumulative % | Total | % of Variance | Cumulative % | |
| 1 | 1.294 | 43.144 | 43.144 | 1.294 | 43.144 | 43.144 |
| 2 | 1.060 | 35.332 | 78.476 | 1.060 | 35.332 | 78.476 |
| 3 | .646 | 21.524 | 100.000 | |||
Determination based on Screen plot:
Based on Scree Plot, Celebrity and Event are taken.
Determination based on percentage of variance:
In this approach the number of factors extracted is determined so that the cumulative percentage of variance extracted by the factors reaches a satisfactory level.
In the factor analysis there are no variables which having more than 60% of variance.
Total Variance Explained
| Component | Initial Eigenvalues | Extraction Sums of Squared Loadings | ||||
| Total | % of Variance | Cumulative % | Total | % of Variance | Cumulative % | |
| 1 | 1.294 | 43.144 | 43.144 | 1.294 | 43.144 | 43.144 |
| 2 | 1.060 | 35.332 | 78.476 | 1.060 | 35.332 | 78.476 |
| 3 | .646 | 21.524 | 100.000 | |||
Determination based on Split-Half Reliability:
In this approach the sample is split in half and factor analysis is performed on each half.
But in our assignment we do not segment our sample.
Determination base on significance tests:
It is possible to determine when sample size is more than 200 but in our assignment we used only 40 samples.
So, from factor analysis, we got that two secondary factor – celebrity and event – plays an important role to build brand equity.
Suggestion for using celebrities
From the factor analysis we got that two secondary factors – celebrity and event – plays an important rule to build Fair & Lovely Ayurvedic brand equity.
Fair & Lovely Ayurvedic mainly targeted young male and female customer. So, in case of celebrities use in their advertisement, they can use male and female celebrity separately in their separate advertisement. They can use film actor and actress as celebrity. But these celebrities should not be more famous. Because if they use more famous celebrity, these celebrities will distract attention from the brand in the advertisement. They can use these film actor and actress as a celebrity who never act as a celebrity in other advertisement. Because if they use these celebrities who previously over used by endorsing so many product, customer will not believe this brand and will not use this brand. Celebrity must be reasonable match with the product. In this case, they can use young film actor and actress as a celebrity because their target customer is young male and female customer. They should use those film actor and actress as a celebrity who are reliable, who are able to effectively deliver message to their customer. They should use both hindi and bangla film actor and actress as a celebrity. Because in Bangladesh, people of urban area like hindi film than bangla film. And people of rural area like bangla film than hindi film. So, to attract both people of urban and rural area, they shoul use both hindi and bangla film actor and actress as a celebrity in their advertisement.
Suggestion for event marketing
From factor analysis we also got that with celebrity, event marketing also play an important role to build Fair & Lovely Ayurvedic brand equity.
For event marketing, they can go by following several ways. Like –
Sports: They can sponsor more famous sports for event marketing. In Bangladesh, cricket is more popular than other sports. About 95% people watch cricket. So, they can sponsor cricket tournament especially those tournament in which Bangladesh cricket team participate. Because about 99% people of Bangladesh watch these tournament in which Bangladesh cricket team participate.
Arts: They can sponsor art exhibition for event marketing which is held in a famous place, where people gather more. They should sponsor art exhibition of some famous artist like art exhibition of Joynul Abedin.
Entertainment: They can arrange some fashion show like seasonal fashion show where boys and girls of young generation will perform their creativity. They can also arrange some famous singer concert, underground band concert for event marketing.
Fair: They sponsor some fair for event marketing. In this case, they can sponsor brand fair, beauty product fair because Fair & Lovely Ayurvedic also a good brand and beauty product.
Festival: They can sponsor some special festival for event marketing. In this case, they can sponsor the festival of Pahela Baishak. Because Baishak is the first month of the Bengali year. Maximum Bangladeshi people go to Pahela Baishak festival.This is a tradition for Bangladeshi people.
Limitation:
When we were preparing our report then we faced the following types of problems.
1. Sample size is limited (40 only)
2. Sampling error may occur in this study due to the utilization of convenience sampling.
3. Lack of experience of the research and lack of cooperation from the respondents
4. Lack of required effectiveness in the questionnaire since the pilot survey has not been conducted before the final survey.
5. Difficulty in collecting information.
References
Books
Book name: Strategic Brand Management
Author: Kevin Lane Keller
International Edition
Book name: Marketing research
Author: Naresh K. Malhotra
Prentice Hall of India Private Limited
Internet
Search engine: Google & Yahoo
Web side: