Marketing analysis of Ecostore
4P’s of marketing that is product, price, place and promotion of Ecostore has been assessed in this report. Ecostore has shown that eco-friendly companies can also be a profitable one. The company has provided households and beauty products which are safe for both the environment and human health. On the other hand, with the help of competitive pricing strategy of the company has enabled it to attract more customers. The company has hugely invested in the research and development activities to develop products with non-toxic components. However, in order to enhance the bottom line performance, the company needs to further customize its products and provide more focus on customer relationship management (CRM).
For sustaining in the highly competitive business environment, it is important for the companies to prepare effective marketing strategies (Sujan and Bettman, 2009). However, the first step of preparing marketing strategies is to analyze the present marketing mix of the company. The purpose of this report is to perform an in-depth marketing analysis of Ecostore. In order to evaluate the current marketing strategies of Ecostore, the main focus will be given on analyzing its marketing mix. In addition, the present marketing mix of Ecostore has been compared with that of its major competitors of the market. Based on the analysis, this report will also offer recommendations that can improve the present marketing strategies of Ecostore.
Marketing background of the company
Ecostore has been set up by Malcom Rands in an eco-village of New Zealand in 1933 (Ecostore, 2016a). This organization has been engaged in offering non-toxic cleaning and body care products to the customers. The purpose of this company is to provide environmental friendly products to the customers. Thus, Ecostore has introduced the concept of ‘health first’ that ensures that the products of this company is safe for the health of consumers (Ecostore, 2016a). The first retail store of this company was set up in 1997 in Auckland. The product range of Ecostore includes household cleaners, body care and baby care (Ecostore, 2016b).
Ecostore has provided a major focus on research and innovation with its team of scientist. The intention of the company is not only to maintain quality in its products and services but also to reduce the impact of the products on the environment. In order to provide healthier and eco-friendly products, Ecostore has selected sustainably sourced plant and mineral based components rather than the petrochemical based ones (Ecostore, 2016a). In addition, the company also reviews the reliable international resources like EWG (Environmental Working Group) and Cosmetic Database for assessing the impacts of each of the components used by the company. In addition, the company also compares its ingredients with that of its competitors’ ingredients to ensure that the level of safety from the perspective of health and environment has been maintained. Some of the most common and detrimental chemicals related to the household products like Triclosan, parabens and SLS are not been used in the products of Ecostore (Ecostore, 2016a). In addition, the organization has ensured that each of the ingredients have been listed in the product labels. Although, such practices have significantly enhanced the cost for the company and delayed its production process, the management of Ecostore has remained stick to this approach. Moreover, Ecostore is considered as the first company that has shown that eco-friendly businesses can be profitable.
Marketing analysis of Ecostore
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