NORTH SOUTH UNIVERSITY

Fall– 2023 (Intersession)

MKT460: Strategic Marketing
Section – 1
Term Paper on
Keya Cosmetics Perfume

Submitted to:
Mahmud Habib Zaman, PhD
Senior Lecturer
Department of Marketing & International Business
North South University, Dhaka

Assigned by:
Md. Hafiz Uzzaman
2011886040

Date of Submission: 15 January 2024

 Letter of Transmittal

15 January, 2024

Mahmud Habib Zaman, PhD

Senior Lecturer
Department of Marketing & International Business
North South University, Dhaka
Subject: Submission of Term Paper on Keya Cosmetics Perfume
Sir,
I am pleased to submit my term paper titled "Analysis of Keya Cosmetics Perfume" as a
requirement for the MKT460: Strategic Marketing. This term paper explores various aspects of
Keya Cosmetics' perfume line, focusing on market dynamics, consumer behavior, and strategic
recommendations.
The term paper delves into the fragrance industry, analyzing Keya Cosmetics' position within it.
It covers key aspects such as consumer preferences, market trends, and offers strategic insights
for the brand's perfume segment.
I express my gratitude for your guidance and valuable feedback throughout the course, which
greatly contributed to the development of this term paper.
Within the document, I present recommendations aimed at enhancing Keya Cosmetics' perfume
line. These insights are intended to contribute to discussions on market strategy and consumer
engagement.
I appreciate the opportunity to submit this term paper and hope it provides a comprehensive
analysis of Keya Cosmetics' perfume line. Thank you for your time and consideration.

Sincerely,
Md. Hafiz Uzzaman
2011886040

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 Executive Summary

The term paper, "Analysis of Keya Cosmetics Perfume," is a comprehensive exploration into the
fragrance industry, specifically focusing on the position and potential growth avenues for Keya
Cosmetics in the perfume market. The analysis spans key dimensions such as market dynamics,
consumer behavior, and strategic recommendations. Understanding market dynamics is
fundamental to strategic positioning. The paper meticulously examines prevailing trends,
challenges, and opportunities within the fragrance industry. This includes an in-depth analysis of
market shifts, competitor strategies, and the impact of external forces on Keya Cosmetics'
perfume segment. Consumer behavior, a critical aspect of the cosmetics industry, is thoroughly
investigated. The paper delves into the factors influencing perfume purchase decisions, exploring
sensory preferences, brand loyalty, and the role of cultural influences. A detailed consumer
analysis provides insights into the demographics of primary buyers, their choice criteria,
purchasing frequency, and preferred channels for acquiring Keya Cosmetics perfumes. The
competitive landscape is scrutinized using Porter's Five Forces framework, identifying direct
competitors, strategic groups, and assessing strengths and weaknesses. This analysis informs
Keya Cosmetics' relative standing in the market and potential areas for differentiation. Strategic
recommendations form the core of the paper, offering actionable insights for enhancing Keya
Cosmetics' position in the perfume market. Short-term and long-term strategies are proposed,
emphasizing product development, market penetration, and brand diversification. The paper
concludes with a SWOT/TOWS matrix, providing a strategic roadmap by aligning internal
strengths and weaknesses with external opportunities and threats. In essence, "Analysis of Keya
Cosmetics Perfume" serves as a strategic guide for stakeholders, providing a holistic
understanding of the perfume market and offering actionable recommendations to fortify Keya
Cosmetics' position and competitiveness in this dynamic industry.

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 Table of Contents
Introduction...............................................................................................................................................5
Industry Overview.....................................................................................................................................6
Analyzing the External Environment......................................................................................................7
Analysis of the Company’s Internal Environment: SWOT Framework...............................................9
Strategies..................................................................................................................................................11
Segmentation and Targeting...................................................................................................................14
Brand Positioning....................................................................................................................................16
Marketing Mix Strategies.......................................................................................................................18
Conclusion................................................................................................................................................24
Reference..................................................................................................................................................25
Appendix..................................................................................................................................................27

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 Introduction

Keya Cosmetics, a leading brand in the beauty and personal care industry, has been a staple in
the Bangladeshi market for over two decades. Founded on the principles of quality, innovation,
and consumer trust, Keya has successfully diversified its product offerings to meet the evolving
needs of its customer base. While the brand has historically enjoyed significant success in
various beauty segments, Keya Cosmetics Perfumes, a specialized unit within the Keya brand,
currently faces challenges that necessitate a strategic reevaluation.

Keya Cosmetics Perfumes, a distinct entity within the Keya brand, has been synonymous with
exquisite fragrances that capture the essence of sophistication and style. Recognized for its
commitment to crafting unique and memorable scents, Keya Cosmetics Perfumes has been a go-
to choose for consumers seeking a touch of luxury. However, recent market shifts and changing
consumer preferences have posed challenges to the growth and profitability of this SBU. To
ensure the continued success of Keya Cosmetics Perfumes, a comprehensive turnaround strategy,
anchored in a refreshed marketing mix, is imperative.

Despite its historical success, Keya Cosmetics Perfumes faces challenges in the current market
landscape. Factors such as shifting consumer preferences, increased competition from both local
and international brands, and the need for sustainability considerations present hurdles that
require strategic intervention. In light of these challenges, a thorough examination of the internal
and external factors influencing the performance of Keya Cosmetics Perfumes becomes crucial.

The primary purpose of this marketing plan is to formulate a robust turnaround strategy for Keya
Cosmetics Perfumes. This strategy will involve a comprehensive update to the marketing mix
elements, namely Product, Pricing, Promotion, and Placement. Additionally, the plan aims to
outline growth strategies that will reverse the current challenges, ensuring the sustained success
and market relevance of Keya Cosmetics Perfumes.

This marketing plan is structured to provide a holistic understanding of the current state of Keya
Cosmetics Perfumes and to propose strategic recommendations for improvement. Subsequent

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sections will delve into a detailed analysis of the industry, external and internal environments,
proposed strategies, and specific elements of the marketing mix. Each section will contribute to
the overall roadmap for addressing the challenges and capitalizing on opportunities faced by
Keya Cosmetics Perfumes.

Industry Overview

The cosmetics and fragrance industry in Bangladesh has witnessed remarkable growth in recent
years, reflecting the changing lifestyle and increasing consumer consciousness about personal
grooming. With a burgeoning middle-class population and a growing urbanization trend, the
demand for beauty and personal care products, including fragrances, has experienced a
significant upswing. The industry encompasses a diverse range of products, from skincare and
makeup to perfumes, catering to a wide spectrum of consumer preferences.

Trends in the Industry

There is a discernible shift in consumer preferences towards niche and personalized fragrances,
driven by a desire for unique scents that reflect individual personalities. Consumers are
increasingly gravitating towards natural and sustainable beauty products, including fragrances.
Brands emphasizing eco-friendly and cruelty-free formulations are gaining traction. The industry
is witnessing a surge in online sales, with e-commerce platforms becoming significant channels
for beauty and fragrance product purchases. This trend is reshaping traditional retail dynamics.

Growth Factors in the Industry

Several factors contribute to the growth of the cosmetics and fragrance industry in Bangladesh.
The rise in disposable income among the middle-class population has resulted in higher spending
on beauty and personal care products, including premium fragrances. Evolving lifestyles,
particularly in urban areas, have led to a greater emphasis on grooming and personal appearance,
driving the demand for a wide array of beauty products. The pervasive influence of social media
platforms has played a pivotal role in shaping beauty trends and informing consumer choices,
creating opportunities for brands to engage with their audience.

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Challenges Faced by the Industry

The industry is marked by fierce competition, both from domestic and international brands. This
necessitates continuous innovation and differentiation to maintain a competitive edge. Adherence
to stringent regulatory requirements, especially regarding product ingredients and safety
standards, poses challenges for industry players. Fluctuations in the economic landscape can
impact consumer spending patterns, affecting the sales of non-essential items such as luxury
fragrances.

In conclusion, the cosmetics and fragrance industry in Bangladesh is dynamic, marked by growth
opportunities and challenges. An in-depth understanding of industry trends, growth factors, and
challenges is crucial for crafting an effective marketing strategy for Keya Cosmetics Perfumes.
The subsequent sections will further explore the external environment, including macro and
micro factors, to provide a comprehensive foundation for the proposed turnaround strategy.

Analyzing the External Environment

Macro Environment Analysis

Keya Cosmetics Perfumes operates within a macro-environment influenced by various external

forces. These include:

 Economic Forces: Fluctuations in the economy impact consumers' purchasing power and
influence their willingness to invest in non-essential items like perfumes.

 Social and Cultural Forces: Changing societal trends and cultural preferences shape
consumer choices in fragrance, with increasing emphasis on individuality and self-
expression.

 Technological Forces: Innovations in fragrance extraction and production technologies,

as well as the influence of digital platforms, impact how consumers discover and
purchase perfumes.

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  Legal and Regulatory Forces: Compliance with regulations regarding the use of certain
ingredients and adherence to safety standards is crucial in the cosmetics and fragrance
industry.

 Environmental Forces: Growing awareness of environmental sustainability may

influence consumer preferences, demanding eco-friendly and cruelty-free fragrance
options.

Micro-Environment Analysis

Porter’s Five Forces Framework Analysis

 Threat of New Entrants: The fragrance industry has relatively low barriers to entry, but
established brands often enjoy customer loyalty. Keya Cosmetics Perfumes may face
potential new entrants focusing on unique or niche offerings.

 Bargaining Power of Buyers: Buyers in the fragrance industry often have significant
bargaining power due to the abundance of choices. Keya must differentiate its products to
retain customer loyalty.

 Bargaining Power of Suppliers: Suppliers of raw materials, especially essential oils and
fragrances, may have moderate power. Keya should maintain strong supplier
relationships to ensure a stable supply chain.

 Threat of Substitute Products: Substitute products, such as body sprays or natural

alternatives, can pose a threat. Keya's unique formulations and branding can mitigate this
threat.

 Intensity of Competitive Rivalry: Competition in the fragrance industry is intense, with

numerous brands vying for market share. Keya must focus on differentiation and strategic
positioning.

Customer Analysis

 Who is Involved in Buying and Consuming? Individuals from diverse demographics, with
an emphasis on those seeking quality fragrances at various price points.

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  Choice Criteria: Customers prioritize factors like scent longevity, brand reputation, and
packaging aesthetics when choosing a perfume.

 When Do They Use It? Perfumes are used on various occasions, including daily wear,
special events, and as gifts.

 Why Do They Use It? Customers use perfumes for self-expression, confidence, and as a
reflection of their personality.

 Where Do They Buy From? Consumers purchase perfumes from retail stores, online
platforms, and specialized fragrance outlets.

 How Do They Use It? Perfumes are applied to pulse points, clothing, or used in
conjunction with skincare routines.

Competitor Analysis

 Direct Competitors: Notable competitors include Aarong Fragrances, Bashundhara

Perfumery, and PRAN Aromatics.

 Strategic Group Analysis: Each competitor belongs to the strategic group of premium
fragrance brands, emphasizing quality and exclusivity.

 Strategy Following: Competitors primarily adopt a differentiation strategy, focusing on

unique scent profiles and luxurious branding.

 Strengths and Weaknesses: Competitors demonstrate strengths in brand recognition and

distribution networks. Weaknesses may include limited product diversification and
vulnerability to changing consumer trends.

Analysis of the Company’s Internal Environment: SWOT

Framework

Strengths

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 1. Established Brand: Keya Cosmetics Perfumes benefits from being a part of the well-
established Keya brand, leveraging existing brand equity and consumer trust.

2. Product Innovation: The SBU has a history of innovative fragrance formulations,

allowing it to cater to diverse consumer preferences and stay ahead in a competitive
market.

3. Diversified Product Portfolio: Keya Cosmetics Perfumes offers a range of scents,

catering to different target segments and occasions, providing versatility and market
coverage.

4. Distribution Network: The SBU benefits from an extensive distribution network,

ensuring widespread availability in both urban and rural markets.

Weaknesses

1. Limited Market Share: While Keya is a recognized brand, Keya Cosmetics Perfumes
may have a limited market share compared to some competitors, impacting its influence
in the fragrance industry.

2. Dependency on Keya Brand Image: While leveraging the Keya brand is a strength,
there is a risk of over-dependency, where negative perceptions of the broader brand may
affect the perfumes segment.

3. Product Visibility: Some of the SBU's products might lack visibility due to competition
or marketing challenges, affecting sales.

Opportunities

1. Emerging Markets: Explore opportunities in emerging markets within and outside

Bangladesh, tapping into the growing demand for premium fragrances.

2. Collaborations and Partnerships: Form partnerships with renowned designers,

influencers, or celebrities to create exclusive fragrance lines, increasing brand visibility
and appeal.

3. Sustainable Practices: Embrace sustainability in production and packaging, aligning

with the increasing consumer demand for eco-friendly products.

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 4. E-commerce Expansion: Leverage the growing trend of online shopping by expanding
the SBU's presence on e-commerce platforms, enhancing accessibility.

Threats

1. Intense Competition: The fragrance industry faces fierce competition from both local
and international brands, putting pressure on Keya Cosmetics Perfumes to differentiate
effectively.

2. Changing Consumer Preferences: Shifts in consumer preferences, particularly towards

natural and sustainable products, pose a threat if not addressed promptly.

3. Economic Instability: Economic downturns or uncertainties may impact consumer

spending on non-essential items like premium fragrances.

4. Regulatory Changes: Evolving regulations, especially related to ingredient standards or

environmental considerations, may necessitate costly adjustments in production
processes.

The SWOT analysis provides a comprehensive overview of Keya Cosmetics Perfumes' internal
environment. Leveraging strengths, addressing weaknesses, capitalizing on opportunities, and
mitigating threats will be critical in formulating an effective turnaround strategy. The subsequent
sections will delve into specific strategies and actions to align with these internal factors and
propel Keya Cosmetics Perfumes toward sustainable growth.

Strategies

Turnaround Strategies

Contraction and Consolidation Strategies

 Portfolio Streamlining: The rebranding strategy involves evaluating the existing product
line and focusing on best-selling fragrances. This approach aims to optimize resources
and concentrate marketing efforts on high-performing products.

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  Market Withdrawal: To strategically reallocate resources, Keya Cosmetics Perfumes
will identify and withdraw from underperforming markets or product segments. Exiting
unprofitable areas allows for a more efficient use of resources.

 Operational Efficiency: Implementing measures to optimize production processes and

supply chain management is a key aspect. This strategy aims to reduce costs without
compromising product quality, contributing to overall operational efficiency.

Growth Strategies

Product Development

 Innovative Fragrance Lines: Investing in research and development to create new and
unique fragrance lines is essential. This strategy aligns with the demand for fresh and
innovative scents in the market, attracting a broader audience.

 Collaborations: Forming collaborations with renowned perfumers, designers, or

celebrities to create exclusive fragrance collections enhances brand visibility and attracts
new customer segments, fostering brand loyalty.

Market Development/Penetration

 Explore Untapped Markets: Identifying and entering untapped markets within and
outside Bangladesh leverages the existing distribution network. This strategy seeks to
increase market penetration and capitalize on new geographical opportunities.

 E-commerce Expansion: Strengthening the online presence by expanding the product

range on e-commerce platforms responds to the growing trend of online fragrance
shopping. This strategy enhances accessibility and market reach.

Diversification

 Product Line Expansion: Introducing complementary products such as scented body

lotions, candles, or home fragrances diversifies the product line, maximizing customer
value and opening up new revenue streams.

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  International Expansion: Exploring international markets aims to reduce dependency
on local market dynamics. Targeting global markets mitigates risks associated with
regional economic fluctuations.

Competitive Strategy

Market Challenger Strategy

 Aggressive Marketing Campaigns: Positioning Keya Cosmetics Perfumes as a market

challenger through bold marketing campaigns highlights strengths and attracts a broader
audience. This strategy challenges competitors in the fragrance market.

 Competitive Pricing: Implementing competitive pricing strategies to offer value-for-

money without compromising quality. This approach attracts cost-conscious consumers
while maintaining the perceived quality of the fragrances.

SWOT/TOWS Matrix

Strengths-Opportunities (SO) Strategies:

 Leveraging established brand recognition to introduce innovative fragrance lines, such as

eco-friendly collections.

 Capitalizing on a diversified product portfolio to explore emerging markets and consumer

segments.

Weaknesses-Opportunities (WO) Strategies:

 Mitigating weaknesses related to limited market share by forming strategic collaborations

with influencers or celebrities.

 Addressing product visibility issues through enhanced online marketing and distribution
channels.

Strengths-Threats (ST) Strategies:

 Countering the threat of changing consumer preferences by emphasizing Keya Cosmetics

Perfumes' strengths in product innovation and quality.

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  Utilizing the established distribution network to mitigate threats posed by new entrants by
ensuring efficient market coverage.

Weaknesses-Threats (WT) Strategies:

 Addressing weaknesses such as dependency on the Keya brand image by implementing

targeted marketing campaigns that establish Keya Cosmetics Perfumes as an independent
entity.

 Countering the threat of economic instability by optimizing production processes to

maintain competitive pricing.

Segmentation and Targeting

Market Segmentation

How would you segment the market? Why?

Keya Cosmetics Perfumes will adopt a multi-faceted segmentation strategy based on both
demographic and psychographic factors:

1. Demographic Segmentation:

 Age: Segmenting the market based on age groups, targeting young adults (18-30),
adults (31-45), and seniors (45+), as fragrance preferences often vary across these
age brackets.

 Gender: Recognizing the distinct preferences between male and female

consumers and tailoring specific fragrances and marketing campaigns
accordingly.

 Income Level: Creating product lines that cater to different income levels, offering
both premium and affordable options to capture a broad market.

2. Psychographic Segmentation:

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  Lifestyle and Personality: Tailoring fragrances to match different lifestyles and
personality traits, such as sporty, elegant, adventurous, or sophisticated.

 Values and Preferences: Addressing specific preferences, such as eco-friendly

products, cruelty-free formulations, or scents aligned with cultural or spiritual
values.

Why?

 Diverse Preferences: The fragrance market is highly subjective, and preferences vary
widely. By considering demographics like age and gender, and psychographics related to
lifestyle and values, Keya Cosmetics Perfumes can offer a diverse range of fragrances
that resonate with different consumer segments.

 Targeted Marketing: Understanding the demographics and psychographics of the target

audience enables precise and targeted marketing efforts. This approach ensures that
promotional activities effectively reach and appeal to specific consumer groups.

Targeting Strategy

Differentiated Targeting Strategy:

 Keya Cosmetics Perfumes will adopt a differentiated targeting strategy, focusing on

multiple segments with distinct fragrance preferences and characteristics. This strategy
recognizes the diversity within the market and tailors products to meet the unique needs
of each segment.

 Benefits:

 Increased Relevance: By offering a variety of fragrances targeted to specific

demographics and psychographics, Keya can ensure that each product resonates
more closely with its intended audience.

 Market Coverage: This strategy allows Keya to capture a larger share of the
market by addressing the preferences of different consumer groups.

 Brand Loyalty: Tailoring products to specific segments fosters brand loyalty, as

consumers find fragrances that align with their individual tastes and preferences.

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  Implementation:

 Launch different fragrance lines that specifically cater to the preferences of

various age groups, genders, and lifestyle segments.

 Develop targeted marketing campaigns for each product line, emphasizing the
unique qualities and benefits that appeal to the selected segments.

The differentiated targeting strategy aligns with the diverse nature of the fragrance market,
allowing Keya Cosmetics Perfumes to effectively meet the varying demands of its consumers
and establish a strong and loyal customer base.

Brand Positioning

Positioning Statement

What would be the positioning statement?

"Keya Fragrances: Elevating Your Essence, Enchanting Your Every Moment."

The 4Cs of the New Positioning

Clarity:

 The brand positioning emphasizes clarity by clearly communicating the brand's purpose:
to offer fragrances that elevate personal expression.

Consistency:

 Consistency is maintained across all aspects of the brand, from product quality to
marketing messages, ensuring a unified and coherent brand image.

Credibility:

 Keya Fragrances builds credibility by consistently delivering high-quality and innovative

fragrances, earning the trust of consumers.

Competitiveness:

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  The positioning highlights Keya's competitiveness in offering fragrances that stand out in
the market, providing a unique and appealing alternative.

Brand Ladder Positioning Levels

1. Level 1: Fragrance Excellence

 Offering an array of fragrances known for their excellence and sophistication.

2. Level 2: Emotional Connection

 Creating an emotional connection by associating each fragrance with specific

emotions or experiences.

3. Level 3: Lifestyle Integration

 Positioning Keya Fragrances as an essential part of the consumer's lifestyle,

enhancing personal expression.

4. Level 4: Symbol of Luxury and Style

 Elevating Keya Fragrances to a symbol of luxury and style, creating a sense of

exclusivity.

Conceptual Map Considering the Assigned Brand and Competing Brands

Conceptual Map:

 The conceptual map positions Keya Fragrances in a space that combines elegance,
affordability, and uniqueness.

 Competing brands are plotted on the map based on their perceived luxury, market
presence, and fragrance variety.

 Keya aims to carve a niche by offering a balance of luxury, affordability, and a diverse
range of captivating fragrances.

Competing Brands on the Map:

1. Brand A: Positioned as luxurious but with a higher price point.

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 2. Brand B: Known for a wide range of fragrances but lacking a distinct luxury appeal.

3. Brand C: Affordable but may lack diversity in fragrance options.

Keya Fragrances aims to occupy a unique position, offering a blend of luxury, affordability, and a
diverse range of captivating fragrances. This strategic positioning sets Keya apart from
competitors, appealing to a broad spectrum of consumers seeking both quality and value.

Marketing Mix Strategies

8.1 Product Strategy

Different Levels:

1. Core Product:

 The core product of Keya Fragrances is the actual scent itself, representing the
essential benefit of a pleasing and lasting fragrance experience.

2. Actual Product:

 The actual product includes the physical attributes such as the fragrance notes,
bottle design, and packaging. It encompasses the tangible elements that customers
can see and touch.

3. Augmented Product:

 The augmented product goes beyond the physical features and includes additional
elements such as limited edition releases, personalized engraving, and exclusive
events. These features enhance the overall customer experience.

Brand Elements for Identity:

 Brand Name: Keya Fragrances

 Logo: A symbol representing elegance and sophistication.

 Slogan: "Elevating Your Essence, Enchanting Your Every Moment"

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Packaging and Labeling:

 Packaging:

 Keya Fragrances opts for elegant and eco-friendly packaging that reflects the
premium nature of the brand. The packaging is designed to be visually appealing
and sturdy to protect the fragrance.

 Labeling:

 The labeling on Keya Fragrance products provides detailed information about

fragrance notes, ingredients, and a brief brand story. Clear and informative
labeling enhances transparency and trust in the product.

Benefits of Packaging and Labeling:

1. Perceived Value:

 Premium and eco-friendly packaging enhances the perceived value of Keya

Fragrances, positioning them as high-quality and luxurious products.

2. Consumer Information:

 Detailed labeling provides consumers with transparent information about the

fragrance, fostering trust and allowing them to make informed purchasing
decisions.

3. Distinct Brand Identity:

 The packaging and labeling contribute to a distinct brand identity, making Keya
Fragrances easily recognizable on shelves and online platforms.

4. Environmental Responsibility:

 Eco-friendly packaging reflects Keya Fragrances' commitment to environmental

responsibility, appealing to environmentally conscious consumers.

5. Aesthetic Appeal:

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  Visually appealing packaging adds to the overall aesthetic of the product, creating
a positive and memorable impression on consumers.

Keya Fragrances strategically designs its product at different levels, focusing on creating a
unique and memorable brand identity through packaging, labeling, and additional features that
contribute to a positive customer experience.

Pricing Strategy

Value-Based Pricing:

 Explanation: Keya Fragrances will adopt a value-based pricing strategy, setting prices
based on the perceived value that customers attribute to the fragrances. This strategy
aligns with the brand's commitment to offering high-quality, unique, and emotionally
resonant fragrances.

 Why? Value-based pricing allows Keya Fragrances to capture the value customers place
on the sensory experience and emotional connection provided by the fragrances. This
approach considers the brand's positioning as a provider of premium and distinctive
scents, ensuring that the prices reflect the perceived value derived from the product.

Bowman’s Clock Positioning:

 High Price and High Perceived Quality:

Justification:

1. Premium Image: Keya Fragrances positions itself as a premium brand, offering high-
quality and unique fragrances that elevate the customer's essence. A higher price point
aligns with this premium image.

2. Differentiation: The fragrances provided by Keya are crafted with attention to detail,
using premium ingredients. A higher price justifies the differentiation and exclusivity of
the product.

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 3. Emotional Connection: Keya Fragrances aims to establish an emotional connection with
consumers. A higher price reinforces the idea that the fragrances go beyond a mere
product; they are an experience that adds value to the consumer's life.

4. Perceived Value: By adopting a high price and high perceived quality position, Keya
Fragrances ensures that customers perceive the fragrances as a luxurious and worthwhile
investment, reinforcing the brand's commitment to excellence.

This positioning on Bowman's Clock allows Keya Fragrances to maintain a premium brand
image, attract a discerning customer base, and justify the emotional and sensorial value
embedded in the fragrances. The combination of a higher price and high perceived quality
contributes to the brand's overall success and competitiveness in the fragrance market.

Channel Strategy

Multi-Channel Distribution:

 Explanation: Keya Fragrances will adopt a multi-channel distribution strategy,

combining both traditional retail channels and an online presence. This approach allows
the brand to reach a broader audience while catering to the preferences of different
consumer segments.

 Why?

 Market Accessibility: Traditional retail channels provide accessibility to a wide

range of consumers who prefer in-store shopping experiences.

 Online Presence: An online platform enables Keya Fragrances to reach a global

audience and engage with tech-savvy consumers who prefer the convenience of
online shopping.

 Diverse Consumer Preferences: Utilizing multiple channels caters to the diverse

preferences of consumers who may have varying shopping habits.

Distribution Channel:

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Distribution Traditional Online
Manufacturer Customers
Center Retailers Platforms
Communication Strategy

Communication Objective:

 Build Brand Awareness and Emotional Connection:

 Create widespread awareness of Keya Fragrances as a premium brand offering

emotionally resonant scents. Foster a strong emotional connection between the
brand and consumers.

Target Audience:

 Demographics:

 Young adults and adults (18-45) who appreciate premium fragrances and seek a
sensory and emotional experience.

Message Strategy:

 Elegance, Emotion, and Individuality:

 Emphasize the elegance of Keya Fragrances, evoke emotional responses

associated with each scent, and highlight the individuality of each consumer's
essence.

Ad Appeal and Execution Style:

 Ad Appeal: Emotional Appeal

 Utilize emotional appeal to connect with consumers on a personal and sentimental

level, emphasizing the emotional experiences associated with each fragrance.

 Execution Style: Visual Storytelling

 Engage in visual storytelling through aesthetically pleasing and emotionally

evocative advertisements that showcase the journey of individuals and their
personal essence.

Message Source:

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  Brand Ambassadors:

 Partner with influencers, celebrities, or personalities known for their individuality

and elegance to serve as brand ambassadors.

Integrated Marketing Communication (IMC) Tools:

1. Social Media Campaigns:

 Engage in visually appealing and emotionally resonant campaigns on platforms

like Instagram and Facebook.

2. In-Store Events:

 Host in-store events for fragrance testing, enhancing the sensory experience for
customers.

3. Print and Online Magazines:

 Feature Keya Fragrances in lifestyle and fashion magazines to reach a wider

audience.

4. Public Relations (PR):

 Leverage PR to share the brand story and new product launches through press
releases and media coverage.

Media Selection:

 Online Platforms:

 Utilize social media platforms, the brand's website, and e-commerce channels for
a digital presence.

 Print Media:

 Advertise in high-end lifestyle and fashion magazines to reach a sophisticated

audience.

Design a Loyalty Scheme Program for the Target Audience:

 Keya Elite Essence Club:

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  Exclusive membership program offering perks such as early access to new
fragrances, personalized engraving, and members-only events.

 Points system for purchases leading to discounts or exclusive products.

 Personalized fragrance recommendations based on individual preferences.

 Birthday and anniversary rewards to enhance customer loyalty.

The Keya Elite Essence Club aims to not only reward loyal customers but also create a sense of
exclusivity, fostering a deeper connection between Keya Fragrances and its valued consumers.

Conclusion

In this marketing plan, we have comprehensively addressed the challenges facing Keya
Cosmetics Perfumes, outlining a strategic rebranding initiative. We started by analyzing the
external and internal environments, identifying key factors influencing the brand. The turnaround
and growth strategies were meticulously crafted, incorporating product development, market
penetration, and diversification. Segmentation and targeting strategies were formulated,
recognizing the diverse preferences of the consumer base. The brand positioning was
strategically defined, emphasizing Keya Fragrances as a premium, emotionally resonant choice.
The marketing mix strategies covered product levels, pricing, distribution channels, and an
integrated communication plan. Additionally, a loyalty scheme, the Keya Elite Essence Club,
was designed to enhance customer retention and satisfaction. Through this comprehensive plan,
we aim to revitalize Keya Cosmetics Perfumes and position it as a leading player in the fragrance
market.

Future Plans for the Company:

The future plans for Keya Fragrances involve a phased approach to implementation:

1. Product Innovation:

 Continuously introduce innovative fragrance lines, collaborating with renowned

perfumers and staying abreast of emerging trends.

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 2. Global Expansion:

 Gradually expand into international markets, capitalizing on the success achieved

in the local market and leveraging the online presence.

3. Customer Engagement:

 Foster a strong online community through social media, encouraging customers to

share their experiences, preferences, and engage in interactive campaigns.

4. Sustainability Initiatives:

 Implement eco-friendly packaging and promote sustainable practices in fragrance

production, aligning with the growing consumer demand for environmentally
responsible brands.

5. Continuous Improvement:

 Regularly assess market trends, consumer feedback, and competitor activities to

adapt and refine marketing strategies for ongoing success.

The future vision for Keya Fragrances revolves around becoming a globally recognized brand
synonymous with elegance, innovation, and emotional connection. By consistently delivering on
these pillars, we aim to establish Keya Fragrances as a timeless and cherished choice for
consumers worldwide.

Reference
Keya Cosmetics Ltd. (n.d.). About. Keya Group. Retrieved January 9, 2024, from

https://keyagroupbd.com/keya-cosmetics-ltd/

Keya Group. (n.d.). Cosmetics & toiletries. Retrieved January 10, 2024, from

https://keyagroupbd.com/

Rahman, M. M., & Islam, M. T. (2018). Consumer behavior towards cosmetics products: A study

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 on Keya Cosmetics Ltd. International Journal of Business and Management Invention,

7(1), 1-9.

Ahmed, S., & Rahman, M. (2016). Marketing strategies and the difference of market

segmentation: A case study on Keya Cosmetics Ltd. International Journal of Scientific

and

Research Publications, 6(5), 225-232.

Keya Cosmetics Ltd. (n.d.). Export info. Retrieved January 13, 2024, from

https://www.bing.com/%5E3%5E

Keya Cosmetics Ltd. (n.d.). Quality control. Retrieved January 13, 2024, from

https://www.bing.com/%5E4%5E

Keya Cosmetics Ltd. (n.d.). Products. Retrieved January 13, 2024, from

https://www.bing.com/%5E5%5E

Appendix

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