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Essential Oils Marketing Plan
Transcript of Essential Oils Marketing Plan
Table of Contents
1. Description of product
2. Value proposition
3. Product features and benefits
4. Target Markets
5. Competitive analysis
6. SWOT analysis
7. Market objectives
Many people in the world look for natural alternatives for health and mental related conditions. Essential oils are created from plants to help with health, spiritual, cleaning, aroma, and beauty improving qualities. We will be looking at various issues concerning the industry, target markets, marketing strategies, and pricing strategies.
Essential oils come in liquid form and are distilled from leaves, bark, roots, and other elements of plants. These oils contain the true essence of those plants and can provide both psychological and physical therapeutic benefits (AromaWeb.com, 2015). These oils have been used for thousands of years, but it wasn't until the 1970's and 80's that these oils became a major part of alternative and holistic health systems around the world. People have created household cleaners and pet remedies from these oils as well.
Essential Oils Marketing Plan
Strayer University - JWI518
June 14, 2015
9. Pricing strategy
10. Target Markets
11. Distribution strategy
12. Marketing promotion
14. Reference page
AromaWeb.com. (2015). What are Essential Oils? Retrieved from http://www.aromaweb.com/articles/whatare.asp
AVMA., (2012). U.S. Pet Ownership Statistics. Retrieved from https://www.avma.org/KB/Resources/Statistics/Pages/Market-research-statistics-US-pet-ownership.aspx
Census Bureau, U.S., (2012). Fertility of Women in the United States: 2012. Population Characteristics. Retrieved from https://www.census.gov/content/dam/Census/library/publications/2014/demo/p20-575.pdf
IBISWorld.com. (2015). Essential Oil Manufacturing in the U.S.: Market Research Report. Retrieved from http://www.ibisworld.com/industry/essential-oil-manufacturing.html
NIH. (2008). The Use of Complementary and Alternative Medicine in the United States. Retrieved from https://nccih.nih.gov/research/statistics/2007/camsurvey_fs1.htm
Features & Benefits
barriers of entry
existing distribution and sales networks
high loan rates
growth rates & profitability
external business risks
These oils are created by large farm distribution centers which in turn send their product to industrial producers or to distributing companies that repackage, brand, and sometimes dilute the oils for retail sale. Currently the product lines are in the Maturity phase under the product life cycle. There are numerous competitors and our business is dictated by the market already in place. In a later slide we will discuss pricing, distribution, and the promotion of our products.
"There is an OIL for that"
Various oils have multipurpose uses. Some can be used to help your pets with aiglments, bring you physical and spiritual health, or create environmental friendly cleaners for your home. Multipurpose use in one little bottle.
Oils can be used individually or blended for various uses. These are just a few areas for use.
Great for infections
Monthly Blend for Women
Immune Support Blend
These are just a few, there are hundreds of different uses!
Currently the target markets are anyone who will purchase the products and those seeking holistic remedy alternatives, pet owners, and people searching for natural home cleaners.
Revenue $1 Billion
Annual Growth 10-15 3.5%
Essential Oil Industry January 2015 Statistics
Native American Nutritionals
North American Herb and Spice
Mountain Rose Herbs
Competitive Analysis (Cont.)
Being an internet based business, we would align ourselves with a distrubution company of essential oils for better product pricing. We would do the norm in establishing online sales, attend event sales, local sales through oil parties, and word of mouth.
1. Mothers (Hispanic, White, & Black) Age groups: 20-30, 31-44, & 45-50. Accounts for 59% of women who are mothers (Census, 2012).
Use micromarketing approach to targe each age group
2. Pet Owners: Dog owners 36.5% & Cat owners 30.4% (AVMA, 2012).
Use concentrated approach
3. Holistic Users: Ages 50-59 (44.1%) Indian/Alaska Natives (NIH, 2008).
Use concentrated appraoch
Dog and Cat owners
Users of natural home cleaners
Utilize both concentrated and micromarketing efforts
Comparative Product Information
Bad customer service
Lack of choices
Slow to return calls
Great customer service
Improve other product selection
Brand awereness - through marketing efforts
Increase market shares - There is no true leader, tap into market
Capture new target market - with focusing on women/families, pet owners, holistic medicin users, & natural home cleaner users
As a new business, sales will determine how effective our marketing is.
From sales, gather data pertaining to age/race/sex of individuals to see which target groups we are hitting.
Determine which marketing efforts work and cut the ones that are not working
Revenue growth will determine whether we are hitting the right niche
Calculate Cost (fixed & variable)
Penetration Pricing: being new to the industry we need to drive business to our website through quantity maximization by means of a lower price
Value-based pricing: set the price according to value to customer in relation to competitors pricing
Offer quantity discounts, seasonal discounts, & promotional discounts
direct sales force
event booth sales
Distribution will be handled by our staff so that we can provide customer service directly to what we have provided our customers.
Local Events: $1000.00
Online presence: $250.00
Local Events: $1500.00
Local Events: $500.00
Each year we need to improve on our website, online presence through social media and googleads. Events and mailers can be tailored depending on the amount of business they bring in each year. If mailers produce a high ROI then this would be the route to go as it requires less manpower and or material to move.
Marketing Promotion (Cont.)
Create an online presence through social media
Create local presence at craft-holistic-medical events
Attend massage therapy school events
Advertise promotions online
Monthly newsletter to registered customers
Coupons via Coupon Mailer
Bundle discounts online
Military/Civil service discounts
Word of Mouth
Home Party Sales