The Body Shop Marketing Plan Analysis Research Paper

The Body Shop Marketing Plan Analysis - Research Paper Example Guatemala produces Aloe Vera used in manufacture of beauty products by the Body Shop. Political instability destabilizes major business processes and business transactions with foreign countries. Secondly, Peru is also faced with political instability, yet it is the major producer of the Brazil nut oil, used in manufacture of beauty products (Assenmacher, 2012). Economic Factors Body Shop Company utilizes the franchising policy as one of its strategies for growth. The decreasing interest today makes the company stands a better growth opportunity as this works in its favour. Secondly, the global trend exhibits a decline of financial institutions, even as countries are advised to brace for tougher economic times ahead. The Body Shop, being a player in the global economy, will also feel a pinch in case this happens in the future. In addition, the current exchange rate indicates a gradual decline of the pound. Therefore, continued weakening of the pound may result in increased prices on imports, including products and product ingredients (Assenmacher, 2012). Social Factors Most social factors work in favour of the company. First, there is increased awareness of the company’s fair trade, as well as the nature of products, which are natural, devoid of animal testing. Additionally, more men are concerned with their appearances, thus will go for beauty products. The company has registered an increase in the number of online customers, considering that in 2008; approximately 65 percent of British families had access to the internet. Finally, the willingness of the buy anti-ageing products is a boost to the company (Mennen, 2011). Technological Factors Dangerous chemical and acidic... Customer Relations Management entails the strategies used by a company to obtain customers and develop long-term relationships with them. Currently, The Body Shop Mainly depends on offers to attract and retain customers. However, overuse of offers has created a negative attitude about this company. The new marketing objectives should focus on other strategies of attracting customers without appearing desperate. Such strategies include positioning of their franchises, advertisements, and customer education. The company can continue giving offers but they should be logical and reasonable. This will make the customer realize that the products are of quality and worth the price. The Body Shop marketing budget should be considerate to ensure the company does not continue reducing its profits. Moreover, focusing on creating environmental awareness using online techniques such as websites will enable The Body Shop spend fewer funds in conducting corporate social responsibility and increase profits.