Wednesday, August 21, 2019
Forever And The Aloe Vera Company Marketing Essay
Forever And The Aloe Vera Company Marketing Essay Introduction: Forever, the aloe Vera company Established in 1978, forever living product giving best health and natural product to provide healthy and long life to the people and increase their personal value. Forever is sharing their product with whole world and giving great pleasure to get importance from product. On basis of new survey, forever, the aloe Vera product company becoming giant manufacture, distributor and publisher of Aloe Vera and as well as great bee products in the world. Forever is multi-billion company over the world and operating their business over 140 countries. Forever is international headquarter located in Scottsdale, Arizona, Rex Maughan, founder, President and CEO, Directs operations worldwide, its approx 9.25 million distributors enjoy the support, tools and guidance need to live healthier and wealthier life. Since their business grew and achieve high boost 9 millions of distributors over the world, their product line is increasing by day to day, which is some product e.g. Aloe Drinks, Bee products, Nutrition, Personal Care, Skin care and weight loss etc. Parker, B (2007) Forever Living Products (UK) ltd.Ã Forever Living Products (UK) ltd. () 4,5 Forever Company Background: Forever living products are commence their operational business form United Kingdom and after short period of time company ready to achieve largest provider of aloe Vera services over the world. In year of 1994, company was ready to spread their magic; first they start head office to the prestigious longbridge manor in Warwick. Forever company is operating and believing on Open door strategy policy meaning for new entrants are always welcome, and regular meeting and discussion are held throughout the year. In year of 2007, Companys revenue number is $2.1 Billion, forever transferred to the United States, which is larger location of business growing industry? Forever started their business as their distribution centre and now they can store 50 containers (1,000 pellets) of product form the US. Forever company successful distributor is packing order approximately 1, 35,000 orders annually. The distribution centre hosts to give increment to distributors and provide tour facilities and o peration. Parker, B (2007) Forever Living Products (UK) ltd.Ã Forever Living Products (UK) ltd. () 4,5 The Business projects opportunity Scope: By through of author view mission is, We endeavour to understand our customers business so well as to be able to offer comprehensive solutions to their problems. Author is describing if your mission gives ability to solving problem and accurate understanding with customer in business. It is great achievement for company portfolio and good indication of business reputation. Basically, Forever Companys scope strategy describing in following points: Company has been successful in the past but in market so many competitors are giving challenging by global operators expanding into the world. For be successful in the business environment company developing their current product and giving more consideration on RD to improve their services and value of money. To make new implementation on territory, and expand new customer and new market in the new location. To attract and build good relation with customer and distributors, who is giving repeat business from market? To keep distributors and customer loyalty safe provide rewards scheme. Company are trying to introducing new entrants in the team because they are brining new ideas and experience and giving flexibility into the incorporate world. Scribd.comÃ (2010) Available: http://www.scribd.com/doc/12982888/Busines Last accessed: 10th April, 2010 Marketing Strategy Business Techniques: Through of Roger Penske quotes; We believe that our strategy of aligning our brand mix with strong brands that are gaining market share helped us to perform in a tough first quarter market. Authors: Roger penske Gillian, FÃ Greenlight Greater PortlandÃ portland.com, Available: http://http://thinkexist.com/search/searchquotation.asp?search=marketing+strategy Last accessed 12th April, 2010 In business marketing there is two important company strategy: How your business will address the competitive marketplace. How you will apply and give support to your day to day operations In Todays business environment is very competitive, there many companys trying to defeat/adopt forever company marketing plan or strategy, which only key success of forever company. So company must be aware of that and they have to make essential implementation and business research to the day to day basis to make safe position in the market. Company Sales Distribution Methods: Following given points describing company sales and distribution method. Points areÃ ¢Ã¢â ¬Ã ¦ The Forever Marketing Plan: Company is promoting forever product to the distributors on the basis of incentive. To promoting with other consumer and arranging meeting, conference and gate to gather with them and explaining business plan and one day they will be a company revenue maker. Companys trying to reducing paper material, advertisement cost, staff cost that why they arranging formal meeting and conference. Basically business is depended on one people to other e.g. Tree bunch or queue. Marketing plan is only depend on people whos existing in business and they have to introduce new people in the business. Forever living company has good, long track history with new goods and services and forever product improving health without the same old prescriptions for how to feel better. So its give good niche for the reputed business developer. Distributors and Managers incentives and commissions: In the company new distributor price is at least 2 case credit values of goods purchases into any 2 constant months it will make you for qualify for the assistant supervisor level. On the level of supervisor will gives you 30% discount on the whole retail price and once supervisors reached to this level then, they will also eligible for the 5% month and individual bonus, then they can start to build their own team tree of business. New distributors are purchasing all products at a 15% discount on the full retail cost will be Ã £195 each time order of product. Assistant supervisor (2cc months) getting incentives 5% from new distributors. Supervisor(25cc 2 month) are making incentive 8% on the new distributors and 3 % on Assistant supervisors, which is give total 11% to the supervisors. Assistant Managers (75cc 2 month) are earning 8% on the top of Assistant supervisors and 5% from supervisors, so that is gives sum of 13% to Assistant managers. Finally Managers (120cc 2 month) are generating 10% from Supervisors and 5% from Assistant manager. Managers finally constant on 15% of total. BusinessTown.comÃ (2003) Business Plan, Available: http://http://www.businesstown.com/planning/creating-rainbow.asp Last accessed: 16thApril, 2010 Forever Business planning- Implementing plans: Business concept of Forever: The forever company has growing rapidly faster and faster and setting good position in competitive market and prepared for future. Companys trying to spread every where in the world and that why they are seeking to provide higher quality of product and services and also considering on skimming method, that is giving higher price rates, companys business will be leader in the market because, they are giving top quality, special services and high level of transaction. Forever key success reason: The success of forever is vary in importance but some are essentially very successful like companys providing high standard products, top class services and giving extra afford on distributors motivate them and they will multiple in short period of time and achieved position in the business. This business ideas is unique thats why in the market we are facing less competitors and we are growing very fast. Forever product is providing stability and peace to the customer and customers are getting their money worth back, so customer satisfaction is key success of Forever Company. Companys current situation/Financial situation: Net Asset Value: 75.10 Trade Time: Apr 19 Change: Ã 0.37Ã (0.49%) Prev Close: 75.10 YTD Return*: 6.02% Net Assets*: 34.42B Yield*: 0.16% * As of 31-Mar-10 Forever companys current situation is going very well but some time they are facing some error, which is make wrong effect on business growth. But still if see growth of company is going every year high and high achieving their success. Product of company is giving great satisfaction to the consumer and feeling good by using company product. Yahoo! FinanceÃ (2010) Fidelity Growth Company (FDGRX) , Available: http://http://finance.yahoo.com/q/bc?s=FDGRXt=1y Last accessed: 18th April, 2010 Forevers Market Analysis: following given sub points to state briefly and give full detail of market analysis. These areÃ ¢Ã¢â ¬Ã ¦ The overall market of company: The overall company market is operating $150 million in the US and Canada. Company is operating two different groups, that is 1) Sales of product and 2) Adding new Entrants. First group has been operating low volume of profit but second group is generating high volume of profit, which is giving solid business competition to the completers. Company is leading business market and making higher revenue. Market Segments: The mass retailers are looking for low-priced products and high percentage of their goods and value to maintaining standard. Companys competitors are trying to make duplication of product and services which is diverting forever customer relation and stealing customer trust. Basically forever is spreading their business through of franchise. If distributors are capable enough capital and have excellent business ideas, they can also operate their own business under the forever company. Customer/consumer Needs: Customer needs are not only to enjoy benefits of product and services and also they are interested join this independent opportunities of companys business and build respected reputation in business world. Customers are demand are high about company product because of product is natural and long lasting value, which protecting them from future expenses e.g. medicine, weakness, un-healthiness and natural break down. Competitive Critical Analysis of Company: For topic explanation given points belowÃ ¢Ã¢â ¬Ã ¦ Company operation overview: Across the UK and Asia there are many different firms that distribute the forever franchise. The huge majority wherever distribute only one and two low quality services as a very small filed of their overall distribution of business. In the company, there are providing many distribution firms that giving opportunities between a dozen and as many as one hundred forever products. These firms also to a wide variety of outlets including mass merchant accounts. Business opportunities: While the competitions is perfectly stand in, and giving a more of focus to, current important markets for this product, they are much less presser gaining the higher end of forever company market. Company is offering terrific potential because it has significant growth potential, and the competition is not well-introduced here. Might be company is not be largest but its appear a very strong status opportunity for a newer competitors. Threats and Risks: Company is facing some threat and uncertainty, because we are a new entrants firm, we do not anticipate a meaningful or prompt reaction our market entrance form our larger and more established competitors. We thought a solid reaction form existing distribution field is basically unlikely because the first competitors derive on a very small percent of their business from forever sales, and even that revenue is largely from different Franchise and Merchandisers. So we facing some threats like, if competitor are providing lowers their prices on the exact same products we are offering we will match their price on that product. That why we have to be keep updated with business environment changes and research, for solution forever companys is investing more money on Research and development to make unique implementation on the business. BusinessTown.comÃ (2003) Business Plan, Available: http://http://www.businesstown.com/planning/creating-rainbow.asp Last accessed: 16thApril, 2010 Sales and Marketing of Company: By through of Author said, Man does not only sell commodities, he sells himself and feels himself to be a commodity, and the sole purpose of marketing is to sell more to more people, more often and at higher prices. There is no other reason to do it. Erich, Sergio, F (2010)Ã DailyCelebrationsÃ Sales and marketing qoutes, Available: http://http://www.dailycelebration.com/marketing2.htm Last accessed 20th April, 2010 Marketing Plan: Forever marketing plan is to work with our distributors on a day to day basis and implement innovate marketing programs for the company. Basically we are in corporate market so we have developed close working relationships with our distributors. In hence we will upgrade emphasis in new entrants sales calls to build credits. Company will closely building all of our marketing and sales efforts to project a consistent image of our company and a consistent positioning of our product or services. We will established this profile all our name Forever, The Aloe Vera Company and which we will attend meeting and conference some trade show and produce a colour catalogue these marketing initiatives are seen as supporting, not competing with our independent sales representative. Sales and Marketing Tactics: Companys primary tact is face to face selling and joining business opportunities. Spreading business opportunities hand to hand and giving importance to the need of customer and trying to displays, and in building a bigger forever business for our customers. Company will insist that our independent business tactics represent only non-competing, non-forever lines. We are organising meeting on daily basis on different location and giving motivation to the distributors and manger, they can set high target goal. Company is representing on a ledger basis, giving them incentives and bonuses on all sales of order in their exclusive territories. BusinessTown.comÃ (2003) Business Plan, Available: http://http://www.businesstown.com/planning/creating-rainbow.asp Last accessed: 16thApril, 2010 Michael Porters Five Forces on Forever, the Aloe Vera Company: In forever company business, the porters forces tool is playing important role to describe different characteristics on company business behaviour. It is also giving clear view to how to forever overcome their weakness and how forever can develop their fair advantage into the strength of company. These forces are also making awareness from competitors strategy, wrong steps into the business, new product failure, un-successful services or business opportunities. Reference:Ã http://www.metrixmedia.com/images/Porter03.gif Following point is describing company issues and assumption through of porters five forces that is stating competitive power in different situation: Supplier Power: Forever suppliers are demand increasing by day to day basis because company growth and profit margin is very high that why suppliers are forcing to the Forever to increased their power of supply. Forever product and services demand are increasing because of, they are giving life time valueless benefits. This is also kind of source where suppliers can ask for more benefits from company, if company is not agree on their demand, suppliers can switching to another company or other company competitors. If its happened then forever market value and relation with customer will affected in form of loss, diversity, failure of business. Buyer Power: Forever company product and business opportunity demand going up, so obviously consumer and distributors need will increased in form of facility, incentives, bonus, services etc. companys position is on standard and top level situation in the business market but in the business market forever have many competitors are there, those are looking for your one mistake and they will defeat you. So Forever Company aware of this, they have been flexible and understanding with buyer other wise company might be face failure in business. Buyer power is increasing because in market there is crucial competition between companies. So If forever will fail to satisfy buyer demand then could be buyer are start switching different alternative. If company deal with few, strong buyer, they are often able to dictate terms to Forever company. Competitive Rivalry: In this competition generation, if we see every one chasing their successful competitors and adopting and copying their strategy, innovation, services, schemes etc. Forever company is also market leading company that why some competitors like Fast track, kleenezee and Global world etc, are trying to defeat forever company. Forever companys always giving special consideration to make their suppliers and buyer will happy and satisfy, other wise they go elsewhere. But also company has to give a afford to whatever they do, on-one else can do, then company can often have tremendous strength in between competition. Threat of Substitution: Forever company powers unique and innovative that is reason many companies adopting and implementing their strategies on their business. E.g. for Kleenzee is adopting concept from forever company and giving tough competition to forever in the business. By this substitution companys seems to be decreasing their value in the market and their customer choosing different company product and services for this reason company might be loose their power in the market. Customer may substitute by doing the process manually or by outsourcing it. Threat of New Entrants: Todays every where competition is going in the business industry that is reason by my own point of view Present Generation is Competitive Generation New companies are just started their business, they start competition with other. Forever is giving opportunities to other people to make their own company by support of them but any how the new company are facing threat of substitution of product, services and technology etc. because of other competitors are already adopting their business tactics and strategies. That why forever always spending more investment on Research and development to regularly innovate unique ideas, which give confident to maintain their standard of services and customer trust on their company. If company have solid and effective barrier to entry, then they can perform on their position and take fail benefits of it. Porter, M (1995)Ã MindToolsÃ Porters Five forces strategy, Available: http://http://thinkexist.com/search/searchquotation.asp?search=marketing+strategy Last accessed 21st April, 2010 Recommendation: When I meet face to face to the companys CEO to discuss the serious problem like many people do not know about Forever Company, because companys not Advertisement their product and independent business opportunities in different sources e.g. Newspaper, Television, Posters etc. Through of my point of view, they have to also provide variation of product, which is give different and unique experience to the consumer and its also make updated in between competitors. Implement important changes of adding an online benefits request system and provide online business opportunities, because of this company can also international customer and distributor. Forever company must be implement some important strategies like they have to provide more incentives for new distributors, that is one way to attract more distributors and once they will into the business then provide them standard percentages of incentives. Company should be provide companys financial, revenue, and profit margin information to the general people, its build trust and strong relation between customer and distributors and also for New Entrants, it will be first impression of company. In my point of recommendation, I suggest to company to give some percentage of concession on joining fees and order charges for student. Forever business offering necessary literature items and sundry items (e.g. carrier bags, guidelines book) not only to aid your product launches but also useful for education purpose and as business tools, this is also good source of education and knowledge. Conclusion of Project: Forever business has grown into as largest product selling company in the business world. Forever is not only one big business, but also million of successfully growing on home based business. It is also shared dream of many people that has made forever living the success it is. Forever is business strategy spreading all over world and providing un-forgettable service and product quality to their customer. Its also motivating people to join their business and giving opportunities to operate their own business.