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International Marketing: A Forest Essential Case Study

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Introduction: International Marketing: A Forest Essential Case Study

The chosen company is Forest Essential which is an Indian brand for Ayurveda beauty products. In central London this November, the ayurvedic cosmetics company Forest Essentials will debut its first international location outside of India. The company's skin, body, and hair care products will be available for purchase when it opens at 28 James Street in Covent Garden. According to Forest Essentials, it is the first "made in India" company to open a high-end retail store in the UK. The store has a contemporary, minimalist aesthetic that is emphasised by Indian artisanal elements. Additionally paying respect to the brand's Lodsi Factory in the Himalayas, where ingredients are sourced by native female artisans, the building has natural stone walls and a sloped roof.

Main body

The UK, one of the most vibrant beauty markets in the West, has long been a dream location for Forest Essentials, according to founder Mira Kulkarni. "We are overjoyed by the brand's initial reception, and we look forward to welcoming customers to share in the Forest Essentials experience we build within our stores. Ayurveda is a traditional branch of Indian medicine that emphasises the harmony of the mind, body, and spirit for overall health. In 2001, Kulkarni established Forest Essentials, a company dedicated to empowering women and supporting local communities via sustainable Ayurvedic practices (Otaki et al. 2021). In order to lessen its overall environmental impact, the brand said that ingredient selection and packaging are given "careful thought." Following its discovery by ELC heir Leonard Lauder, it has also collaborated as a strategic partner with the Estée Lauder Companies (ELC). Along with the opening of the new store, Forest Essentials will also introduce its new Enchanted Forest Collection, a selected gifting line. Management can determine the various possibilities for strategic positioning using a number of different models.

Theories used by Forest Essential in UK

Product

Products of Forest Essentials Company

Figure 1: Products of Forest Essentials Company

Price

The Product's pricing range of the company is from INR 300 to 4000.

Price Range of Forest Essentials Company

Figure 2: Price Range of Forest Essentials Company

Promotions

Forest Essentials markets itself as a company that offers products that are derived directly from the natural world. They do not advertise in newspapers because it is a relatively niche market brand, but they did run two ads in 2015 and 2012 heavily on their devoted customers. They do offer free shipping for orders over Rs. 2999 and loyalty cards (Flores et al. 2019). Every order comes with free samples. In order to their loyal clients, they also give gift cards. Almost no advertising in magazines and the primary method of promotion is through social media.

Promotional Posts of Forest Essentials Company

Figure 3: Promotional Posts of Forest Essentials Company

Place

Distribution via business brick and mortar stores and internet retailers: about 38 stores in 12 Indian cities. Additionally, they market their goods on various Indian e-commerce websites including Nyaka, Flipkart, Amazon, and Myntra in addition to their own website (Otaki et al. 2021). They provide their services in prestigious hotels including the Hyatt, Oberoi, and Taj. They sell their items there as well as using them in numerous spas. The action follows the company's debut in the UK through regional beauty e-tailer LookFantastic.com. The retailer declared that its stores would initially operate in major cities including London, Manchester, and Birmingham before expanding to other regions. Outside of India, the UK is one of its largest markets for online sales. 30% of the company's overall revenue comes from e-commerce.

Positioning Strategy

They operate roughly 70 stores in India and ship goods to 120 different nations globally. They have teamed with businesses like Selfridges and Harrods to provide in-store services in countries where freestanding shops cannot be operated. Forest Essentials has intensified R&D and accelerated the pace at which it releases new goods in response to the escalating demand. A persistent demand for innovation has replaced the company's earlier lack of frequent product launches with increased need to keep reinventing the brand (Bentaleb et al. 2018). The business has increased its R&D budget and staff, which includes doctors, chemists, and Ph.D.s who assist with formulations. They want to keep working on the entire niche to modernise Ayurveda with the growth in brand awareness and business. They still offer everything using a modified version of the ancient Ayurvedic approach.

Nowadays, products that are made with organic and natural ingredients are the current new trend among consumer. People are more interested in these types of products due to their excellent healing properties. Forest Essential must keep that in mind and may put their item into the convenience store, specialty and retail, not only just in the online platform (Pourghasemi et al. 2020). The company may consider these factors because their products are made with the ancient medicine form of India. The company uses the positioning strategy for their products and this strategy is also familiar as brand or market positioning strategy (Iyer et al. 2019). This is one of the strategies of marketing that mainly concentrates on differentiating a brand or company from its competitors. The main aim of this strategy is to create an impact on customer perception througheffectively communicating thecompetitive advantage of the brand or company.

Step 1: Begin with the overall business requirements.

The most crucial item to concentrate on when positioning your firm is business imperatives. The business's strategy influences how it expands and recruits the personnel it needs. Making a position statement requires a clear set of priorities, so before choosing your next course of action, be sure it have to be understanding of what success looks like (Gao et al. 2018).

Step 2: Do some market and competitor research

This action has helped the organisation position in the market. It must understand the target audience and where they are currently making their purchases. “What else do these businesses have in common, except that? What can you do to differentiate yourself from them while still appealing to the same demographic?” these are few common questions which need to be met while following positing strategy (Keller, 2020).

Step 3: Determine the key differences

“What sets your business apart from the competition? What distinguishes you? What is the positioning statement you'll use? What is the tenet of your positioning?”- These are the questions which have to be answered for identifying the differences.

Step 4: Develop thepositioning statement in collaboration with a marketing team

Marketing teams have experts who can assist the organisation with concept generation and positioning statement refinement to create something that would appeal to clients. They must understand their audience, the nature of the product or service and the channel via which this positioning statement would be distributed (Lluz, 2020).

The positioning message must set the organisation apart from the competition and draw long-term clients. This need to be definitely reflects who the company actually are because it will appeal to potential customers.

The reason choosing positioning strategy

Effective strategic positioning depends on a careful and ongoing monitoring of developments in the external environment. Changes in the political and/or regulatory climate, for instance, might threaten or offer possibilities for enterprises that already have positions in a market. In a similar vein, shifting economic conditions can put incumbent positions in jeopardy. For instance, a severe economic crisis may make companies with a "low cost" positioning more desirable if demand for their goods and services rises at the expense of more expensive and resource-intensive alternatives. A company thinking about adopting a cost leadership strategy (Porter) will want to determine if it can achieve the same level of productivity and efficiency as major rivals who also use this approach.

Benefits of Positioning Strategy

Figure 4: Benefits of Positioning Strategy

The four primary categories of positioning techniques are competitive positioning, product positioning, situational positioning, and perceptual positioning.

  • Competitive positioning is the process of contrasting your product or service with those of your competitors.
  • A product can be placed to serve clients by matching these features to specific requests.
  • Positioning your product in response to the particular needs of your target market is known as situational positioning.
  • By shifting perceptions, perceptual positioning involves influencing how people feel about their circumstances.

The positioning strategy has three main strategic positioning and that are channel, customer and competition. The four different types of this strategy are product pricing distinctive value proposition, competitive positioning and the quality of the product (Kapitan, Kennedy & Berth, 2019).Forest Essential mainly focuses on the qualityof the items and also uses customer strategic positioning. There are many products in the market that used organic and natural ingredients for their product but most of them fail to keep intact the product quality and some of them forget to priorities the requirement of the consumers.

Forest Essential always tries to keep intact the quality of the items and that helps them to create a brand image in front of the customers. Customers are always eager to pay value to a good quality product and this gave the company an advantage (Lindholm, Rehma & Reda, 2021). The company always look for what the consumers are needed and according to that they evaluate and launched their product. They analyse the demographic of the customer such as gender, age, profession and many other. This helps them to take the decision on the development plan of the marketing. Therefore they mainly targeted customers who are older than 26 years.

The challenges of adaptation

One of the main elements of thechallenges of adaptation includes a vivid socioeconomic range and some factors that are non-climaticbiophysical. The second one is the careful deliberation that must be provided to contrast those factors throughout the scales andcross-scale interactions. The third one is that any concept's representation needs both qualitative and quantitative elements (Santos et al. 2020). There are many similar brands just toForest Essential Company and these companies are selling the products not only online site but also in theconvenience store.

They also used free trials that help the competitive company to increase marketing and sales of the brand.Forest Essential must also the samples and free trials strategy to get more familiar with the customers and these will aid the company to grow bigger and elevate sales. There are many studies done by various researchers and they also suggest this because the product of the company mainly concern with skin healing.

Similarities and differences between the standardization and adaptation strategies

The company generally used thepositioning strategy for marketing its products and in their use different aspects. On the other hand, to increase their marketing and sale in the market can use the 4P's marketing mix strategy (Lu, Xu & Wang, 2020). The similarity between these two marketing is product quality. Both of them prioritise the quality of the product and this attracts customers who are ready to pay for a good quality product. The company already prioritise this quality thing and that already creates a brand image in their existing market (Pereira, Kennedy & Potgieter, 2019). Hence, there are many differences in the middle of the standardised and adaptation strategies.

The adapted strategy is generally supported by a variety of strong marketing that is especially by the market uniqueness andmarket individualism. The company must ignore the national specialities in a single market (Moorhouse, 2020). The main reason for the application of the adaptation strategy is, most of the company ignore the local or regional condition that is completely different. In standardisation strategy, the international companies think it worlds widely and apply for combination access globally (Cohen-Shacham et al. 2019). In adaptation strategies, the company's product must be different from the product of their competitors and the manufacture of the product whereas, in standardisation strategies, a standard item does not require to have each and every feature of the other items those buyers needed.

3 Cs of working out the strategic positioning

Understanding the market and identifying your target audience are the first steps in effective branding. The "three C's" are a common for the three essentials of strategic positioning. To achieve this, background research must be done, a brand image must be created that is in accordance with consumer expectations, and product packaging must reflect what customers expect from the goods they wish to buy (Puzakova & Aggarwal, 2018).

Customer

Understanding a customer's wants is the most important part of positioning, thus it's important to pay attention and concentrate on what they want. The customer looks for answers to any problems that they might be having or details about what they think of your products, such as reviews.

Team or channel of sales

The channel is finest ally when it comes to understanding customer demands and the purchasing process. The team has access to client profiles and problems that you would ordinarily need to learn about from other sources because they have a direct channel to clients. The more sales cycle experience channels have, the more effectively they can help you identify the brand's strengths so that it can be focused only on those characteristics while developing the positioning strategy (Riefler, 2020).

Competition

When competing against other companies, understanding what makes your product superior to theirs and strategically presenting it are essential elements of positioning strategy. The best way to ensure that you have a position that sets you apart from the competition is to make sure your product actually stands out from what is presently available on the market. When coming up with a distinctive positioning statement, be certain that no component of your service can be readily duplicated or made more affordable (Puzakova & Aggarwal, 2018).

Conclusion

Forest Essential is an Indian company that is currently targeting the market of Boston. This company's beauty products are made with natural ingredients that help to heal the skin. The main targeted customer of their product is females who are at their 26 or older than that. For the most part, the business employed the positioning strategy to advertise its goods and the various facets of their use. However, they can employ the 4Psmarketing mix strategy to enhance their marketing and sales in the market. Product quality is a shared characteristic of these two marketing strategies. The fact that both of them place a high priority on product quality draws customers who are willing to pay for high-quality goods. In its current market, the corporation already prioritises this quality factor, which builds a brand image.

Recommendations

  • The company must promote their products through samples and free trials of the product. This is the best strategy for marketing that helps the customer to make a decision about purchasing.
  • The market of Boston likes the products of the Forest Essential Company. The products are aboutthe skin and this is a very sensitive topic. Therefore, they have to take the step carefully in the new market.

References

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