CH.2 Strategic Planning for Competitive Advantage

CH2:  Strategic Planning for Competitive Advantage

                           

Mary Kay Marketing Strategy

Mary Kay has a strategic planning by developing many strategies marketing for competitive advantage.  Since 1963, Mary Kay Ash founded cosmetics business; her strategic plan is selling door to door. More than 700,000 independent consultants have found success doing that. Selling Mary Kay cosmetic product is a real small business option for any of his independent consultant who can come with her own marketing strategic.  However, the company has instilled four mains marketing strategic such in person marketing, online marketing, network marketing, and hosting events.

In Person Marketing It is the most traditional the company strategic plan, direct marketing involves in person. The main market target is family members and friends, offering free facials and makeup in order to let appreciate the product and to make sells. Besides, door-to-door selling is part of in-person marketing.

Hosting Events It is another traditional Mary Kay marketing strategy; hosting parties or beauty events in home. This is an expansion of in-person marketing. These events can be advertised through social media with incentives to attend with free gift.

Online Marketing The most growing marketing opportunities. Mary Kay has its own website which is recommended for great selling.

Network Marketing It is another opportunity to sell and get involved and interested users of Mary Kay cosmetics set up to sell the products to their friends on their own. The advantage is referrers will get a portion of these sales. However, it is not the best marketing strategic.

  

Competitive Advantage

Mary Kay Cosmetics is distinguished from other competitors by its competitive advantage. Performing Mary Kay S.W.O.T analysis let us identify its competitive advantage.

Strengths

Mary Kay carries a variety of products in 4 major categories: skincare, body care, makeup, and fragrance, men and women. The company develops and produces its own products as well as performs its own testing and packaging. Its products are to fight aging. Mary Kay targeting markets are customers of any age, which allows them to cover almost all segments of their market. Other advantages

·      One of the Only Privately Owned Family Companies That is Debt Free

·      Through Enriching Women's Lives they Enrich Families Lives as Well

·      Highest Paid Commission Sales People in Direct Selling

Weaknesses

·      Sells Men's Products Without Advertising

·      No Store to Sell Products - Everything is Door-To-Door

·      Small Size Compared to Competitors

Opportunities

·      People are Looking to Start Their Own Businesses

·      Selling Products Targeted at the Baby Boomers and Generation Y

Threats

·      Little to No Advertising

·      Intense Competition

Mary Kay Cosmetics is distinguished from other competitors by its competitive advantage. Independent consultant at different level owns a Pink Car; a significant amount of infrastructure, Mary Kay had a competitive advantage in.

As Elisabeth Ahern states, “The Benefits Of Pink Think: A History Of the Mary Kay Cosmetics Company In Domestic And Global Contexts”.

Despite popular perceptions, Mary Kay Ash's favorite color was not pink.