Innovations In Engineering And Technology â€Myassignmenthelp.Com

Question: Discuss About The Innovations In Engineering And Technology? Answer: Introduction The Jojoba Company was founded by Ian Turner and his daughter Vicki Engsall in the year 2008.The products of the organization are manufactured from Jojoba plant which is grown in the family farm and has powerful revitalizing properties for the skin. The organization belongs to the beauty products industry that manufactures all products from natural ingredients of Jojoba Plant. The value and mission of the organization is to provide customers a wide range of skincare products ranging from baby oil to blemish control to products for matured skin, and all the products have natural ingredients only. The value of the organization is to manufacture its products with alignment to environmental sustainability. There are no chemicals added to the various ranges of skincare products, the products are not tested on animals and there is no animal derivates, petrochemicals or artificial fragrance added to the products. The marketing orientation of the organization is to cater to the needs of the customers through generation of market intelligence, dissemination of market intelligence and responsiveness. The Jojoba Company uses modern digital tools and data mining techniques to gather information of customers and competitors of the market. The tastes and preference of the customers are studied using marketing intelligence tools and the Jojoba Company responds to the feedbacks of the customers through digital platform like Company website, Facebook, Twitter etc, The products of Jojoba Company cater to the diverse skincare needs of a wide range of customers including babies, girls, women and men. The products of the Company are moisturizers, body lotion, anti-aging products for matured women and face cleansers for men. The role the brand has in the organizations marketing strategy is that the organization positions itself as a brand which is completely manufactured from natural ingredients. The brand gains customer perceived value by positioning itself by targeting customers w ho do not like chemical products and rely only on natural skin care regime (Armstrong et al., 2015). Discussion a) The 5Cs of the Jojoba Company are as follows A) The strengths of the Jojoba Company are as follows- i) As suggested from the name of the Company, the products of the Jojoba Company are manufactured from the Jojoba plant that is grown in the family farm of the Company. The organization is committed to deliver products of highest quality to its customers. The products of the Jojoba Company are a combination of organic and natural ingredients and Jojoba plant (De Mooij, 2013). II) The jojoba crop is nurtured in the farm which belongs to the family of the Company and this crop is carbon negative and is grown with alignment with the sustainability factors of the environment. III) The organization is committed not to test its products on animals, perfumes, artificial fragrances, chemicals, petrochemicals, parabens and colors are not added to the products. B) The weakness of the Company is that the organization does not have strong global presence. The organization does not have a strong distribution channel and it is not tied up with huge number of retail store, the selective distribution strategy of the Jojoba Company does not enable the organization to have a huge global customer base. The promotional strategies of Jojoba Company should also be improved. Both Above the Line and Below the Line promotional strategies should be adopted to market the products of the Jojoba Company (Singal et al., 2013). C) The internal strengths of the Jojoba Company can be linked to the external opportunities of the environment. The external opportunities of the macro environmental factors that the Jojoba Company can leverage by utilizing its internal strength are to increase the global presence. There is an increase in demand of products which are manufactured from natural and organic ingredients. The Jojoba Company can gain a huge customer base from global customers if the organization plans to expand its distribution globally (JOJOBA COMPANY, 2017) D) The threats of the Jojoba Company is that the organization plays in a red ocean and faces stiff competition from skincare beauty brands like The Body Shop ,Akin, Sukin and Kora Organics by Miranda Kerr. c) The customers of the Jojoba Company are diverse babies, girls, women both young and matured and men. The organization serves customers who have trust on natural and organic products for their skincare needs and do not find chemical products trustworthy for the needs of skincare. The customers of the brand generally demonstrate brand loyalty if the products suit their skin type, then they can make repeat purchase from the Company. However, since there are many available organic and natural skin care products in the market, the switching cost of the customers from one brand to another will be low and customers generally prefer brands which provide customized and tailor-made products to suit their skin type (Hollensen, 2015). d) Collaborators- The Jojoba Company has in-house supply of ingredients from the family farm of the Company in Yenda, New South Wales and Australia. The supply chain of the Jojoba Company follows a Just-in-Time approach and products are delivered to customers upon order from the Company Website. The Company is yet to build a strong distribution chain to have a strong global presence and should tie-up with collaborators like Alibaba and Amazon. e) Competitors- The competitors of the Jojoba Company are Jurlique, AKin, Sukin, Kora Organics by Miranda Kerr, Gaia Skin and Body, Kosmea and Natural Insticnt. The threat from the competitors is the advertising and distribution strategy of the competitors which are stronger than the Jojoba Company. The threat from competitors is that customers have low switching costs and easy exit barriers, so customers can easily switch to the products of the competitors. The Jojoba Company needs to build loyalty among customers by adopting tools of Customer Relationship Management (CRM) to combat threats from competitors. The new entrant in the market is Gaia Skin and Body (?opaciuk ?oboda, 2013). f) The technological factor that affects the organization is that customers trust a brand that has strong presence on digital platform as well as retail stores. Modern technologies like Enterprise Resource Planning software, Customer Relationship management software,digital marketing tools should be integrated and implemented by the Company to achieve a good market share. How the Jojoba Company can learn about customers, competitors and changes in the market a) What Customers want? The needs and preferences of customers change continuously. The Jojoba Company makes itself aware of the present and future needs of the customers by adopting market intelligence tools. The Jojoba Company adopts data mining tools to understand the shopping behavior of its customers. The organization uses other digital marketing tools to interact with customers on digital platform like Facebook and Twitter to understand their tastes and preference. Feedback is taken from customers online and the Company learns about customers preferences and needs by market research which includes both primary and secondary research (Ribarsky, Wang Dou, 2014). b) The Jojoba Company can learn about which competitors pose a threat through market intelligence and market research about customers. The Jojoba Company benchmarks its products against competitors products by studying the strengths and weakness of the Competitors. For instance, Jurlique is the market leader of organic products and the Company uses e-mail marketing techniques to educate the customers about the skincare products the different benefits and adverse effects of products are taught to customers through e-mails that are informative in nature. Jurlique also has mobile app trough which payment is made easy for customers and also Jojoba Company can learn about this strategy of Jurlique through market research about competitors from social networks like Facebook, Twitter, Linkedin. The proper gathering and recording of information about competitors, noting the strengths and weakness of competitors products, analyzing and interpreting this information enables Jojoba Company to l earn about competitors (Shen Bissell, 2013). c) The business of beauty industry is subjected to changes. The tastes and preference of customers change continuously and there is threat from new entrants in the market. Also competitors continuously focus on Research and Development for providing innovative solutions to the changing needs of customers. The customers also have numerous choices of brands of beauty in the market. Customers go through different stages of buying process like recognition of problem, search of information, evaluation of alternatives, decision of purchase, purchase and post-purchase behavior before purchasing a product. The Jojoba Company can learn about this information of the changes that the beauty industry is undergoing through tools of marketing like the marketing information system (MIS). It is of prime importance for Jojoba Company to use marketing intelligence and market research tools to sense the changes that the beauty industry is going through to survive in the competitive market in the long r un (Foxall, 2014). The market segments which are available to the organization Demographics- The organization can segment its market on base of age group and gender like babies, girls, young and old women and men. The market can be segmented based on the income, lifestyle, gender and culture. Geographic- The Jojoba Company has segmented its market geographically, follows an ethnocentric approach and serves the needs of customers of Australia with products from organic and ingredients of Jojoba grown from family firms of the company in New South Wales. Though products of company can be ordered from China, the United Kingdom and the United States of America through online website of the Company, yet it can be understood that Jojoba Company does not serve global customers and restricts its customer base predominantly to Australia (Meffert, 2013). Psychographic and Behavioral Segmentation-Jojoba Company segments its market on the basis of the Values, Attitude and lifestyle of customers. The market of Jojoba Company can be segmented into customers who invest in beauty products, are conscious about their looks and believe in the charm of looking young. The value and lifestyle of these customers are oriented towards paying a premium price for beauty products (Kusumawati Indrayanto, 2013). Recommendation and Justification The target market of Jojoba Company is babies, girls, young and old women and men. The organization targets customers who have preference for products with natural and organic ingredients and trusts in the powerful revitalizing effects of Jojoba on skin. The customers have good disposable income and do not opt for chemical products to satiate the needs of their skincare regime. This target market is chosen because Jojoba Company caters to all age groups but do not serve customers who rely on chemical ingredients for their skincare needs. Value Proposition for the target market-Jojoba Company can create value for the target market by serving them best quality products with Jojoba, natural and organic ingredients. The Company can create value for its customers by offering them a competitive price and by continuously investing in Research and Development to develop better quality products. Customer Perceived Value can be created by Jojoba Company by building strong relationship with customers through digital platforms like Facebook, Twitter, Instagram and by taking feedbacks form customers and incorporating these feedbacks in the new product and service development process (Kotler et al., 2016). Value Proposition Statement- The value proposition of Jojoba Company is to deliver natural skincare treatment without any harmful chemicals. A detailed marketing mix Products- The product line of Jojoba company ranges from cleanser, moisturizer, exfoliating masks , baby care products, lip and eye care products, hand and body products, serums and oils as well as products are available in gift and travel packs. There is multiple product width within each product line which provides customers with customized and tailor-made solutions for their skin like blemish control products, products for anti-aging, products for oily skin and acne, products for dry and sensitive skin and products for stretch marks. The Jojoba Company should focus on research and innovation to manage its diverse product line. The Jojoba Company should also extend product line and add more products under each line for men. The products of men can be sun-screen, face wash, hand and body moisturizer. Also Jojoba Company should add more products for babies in their product line. Price-The price of the products will depend upon the category of the product. The price of a lip balm of the Jojoba Company can be around 10 AUD, price of body lotion can be around 22 AUD and the most expensive products in the product category of Jojoba Company would be serums with anti-aging properties that can arrest the age of women with price around 70 AUD. Place-The place where the Jojoba Company sells its products are the United States, the United Kingdom, Japan, China and home country Australia. However it is strongly recommended that the Jojoba Company should sell its products in the global market and build a good distribution chain so that products of the Jojoba Company can be purchased by customers across the globe those who are interested in products with natural ingredients. Promotion-The Jojoba Company should use both Above the Line and Below the Line Promotional strategies to promote its products. Products of Jojoba Company should be promoted on digital platforms through social media platforms like Facebook, Twitter, Instagram and Youtube. The digital platform can be used for promotion of products to global customers. Advertising on local beauty magazine and hoardings on main city roads can be conducted in home country Australia. The Jojoba Company should also promote use Below the Line promotional strategy to promote its products like in-store promotion. Physical evidence- The Jojoba Company should have exclusive stores for its beauty products like the Body Shop. The store layout, the visual merchandizing elements in the store will be a part of physical evidence. Customers visiting the store should feel fragrance of nature and the stores should be decorated with pictures, visual effects and lighting that symbolizes nature. The Jojoba Company should also use modern technology to make its website more attractive and easy to navigate. Process- The process of purchasing the products should be made easy for customers. A mobile app could be built so that customers can make easy and safe payments. Jojoba Company should have back office to handle the various departments like marketing, sales, digital marketing, finance and human resource. The Jojoba Company should also have a strong distribution and logistics management system with modern tools. The Company should collaborate with other online platforms like Amazon and Alibaba to make its products easily available to customers around the globe. A personalized relationship should be built with customers through social media platforms like Facebook and Twitter. The Company should continuously focus on research and innovation and add more product line and diversify its product range. All business processes of Jojoba Company should be managed in an integrated way using modern software like Enterprise Resource Planning software, Customer Relationship management software. People- The people of the Jojoba Company which will include the human resource should be committed towards serving customers and should stick to the promise of service delivery. The internal values of the people of Jojoba Company should be in alignment with the vision and mission of the Company. Reference Lists Armstrong, G., Kotler, P., Harker, M., Brennan, R. (2015).Marketing: an introduction. Pearson Education. De Mooij, M. (2013).Global marketing and advertising: Understanding cultural paradoxes. Sage Publications. Foxall, G. (2014).Strategic Marketing Management (RLE Marketing)(Vol. 3). Routledge. Hollensen, S. (2015).Marketing management: A relationship approach. Pearson Education. JOJOBA COMPANY. (2017).thejojobacompany.com.au/. Retrieved 25 September 2017, from https://www.thejojobacompany.com.au/ Kotler, P., Keller, K. L., Brady, M., Goodman, M., Hansen, T. (2016).Marketing management. Pearson Education Ltd.. Kusumawati, I., Indrayanto, G. (2013). Natural antioxidants in cosmetics.Stud. Nat. Prod. Chem,40, 485-505. ?opaciuk, A., ?oboda, M. (2013, June). Global beauty industry trends in the 21st century. InManagement, Knowledge and Learning International Conference(pp. 19-21). Meffert, H. (2013).Marketing-Management: AnalyseStrategieImplementierung. Springer-Verlag. Ribarsky, W., Wang, D. X., Dou, W. (2014). Social media analytics for competitive advantage.Computers Graphics,38, 328-331. Shen, B., Bissell, K. (2013). Social media, social me: A content analysis of beauty companies use of facebook in marketing and branding.Journal of Promotion Management,19(5), 629-651. Singal, R., Garg, A., Singla, S., Bhadal, I. E. T. (2013). Green Marketing: Challenges and Opportunities.International Journal of Innovations in Engineering and Technology,2(1), 470-474.