Marketing Management Assignment: Product Development By YSL Beauty

Question

Task:
ASSIGNAMNET 1:
1. Executive Summary:
2. Introduction: Provide some background information on the chosen organization in the context of marketing management.
3. Application of theory into practice: The following concepts/theories/models should be covered:
a) The role of marketing models, tools and techniques in developing new products and effective marketing plans. The models discussed should include at least one model among (Porter’s Model, SWOT Analysis, and PESTLE).
b) Analyze the existing segments, targeting and positioning of the company.
c) A critical evaluation of the marketing mix (7’Ps) of the chosen organization.
d) Evaluate the strategies adopted by the chosen company to enhance the brand equity.
e) Analyze how consumer buying behavior influences brand management of the company.
f) Evaluate the strategy by using at least one Model among (BCG Matrix, Ansoff Matrix, and Product Life Cycle Model).
2 g) Evaluate the skills set needed by a marketer to launch a new product for the company.
4. Conclusions and Recommendations: Provide recommendations for an adequate marketing strategy for the chosen organization to expand the business in the global market.
ASSIGNAMNET 2:
On the “Launch new product (perfumes) in the UAE”.
1. Write summary of the plan along with your reflections on possible limitations and challenges with the proposed plan and ways to overcome them.

Answer

1. Executive Summary
The present marketing management assignmentsheds light upon the concept of international marketing management that helps a company to promote and launch their products in the global market or to the untouched market with focusing upon the different spectrum of the new market and planning as per those. The marketing management assignmenthas highlighted the marketing management concept of YSL beauty which is the French luxurious fashion company that is trying to promote and launch its new perfume collection in the global cosmetic and perfume market of UAE which is still an untouched market of the company. Thus, about the marketing strategy, the present marketing management assignmenthas mentioned the different marketing concepts, theories and models, which are essential for launching and promotion of any products which a company desires to launch in the global market and earn business from it. Thus, for the present company YSL beauty, the marketing management assignmenthighlights the background of the company along with its brand image and reputation in the whole world. Consequently, the study developed within this marketing management assignment provides the marketing applications into the practice that involves the theories, models and concepts which covers the marketing tools, techniques and models for the development of the new products along with the effective marketing plan. How PESTLE analysis helps in the identification of the need for ‘new product development’ as well as in framing the marketing plan for the products in the target market segment, has been explored in details.

The marketing management assignmentalso mentions the analysis of the existing STP model of the company along with the evaluation of the 7P's of the marketing mix that enlightens the selected organization. Furthermore, the marketing management assignmentdetermines the evaluation of the strategies that are adopted by the YSL beauty for enhancing the brand equity such as differentiation, building up the good relationship with the customers, effective communication with the consumer (brand identification, brand meaning, brand response and brand resonance). The analysis of the consumer buying behaviour which influences upon the brand management of YSL beauty is determined through the application of Kotter's Model of the consumer behaviour along with the application of the Howard and Seth's model. The evaluation of those that are used by the company is discussed with the implementation of the BCG matrix, the model of the Product life cycle and the Ansoff’s matrix.

Moreover, the skill set required by the marketers for the launch of the new product in the global cosmetic and perfume market of UAE has also been mentioned within the marketing management assignment. Lastly, the recommendation has been provided regarding the appropriate marketing strategies for the YSL organisation for expanding its business within the global market and mainly to launch its new products to earn profitability and sales from the international cosmetic and perfume market. The present marketing management assignmentalso contains the assignment 2 regarding the launch of the new perfume collection by YSL beauty in the market of UAE and thus, it involves the summary of the plan with the reflection upon the possible challenges and limitations with the proposed ways and plan that might help in overcoming it.

2. Introduction
In business, the marketing management refers to the organisational disciplines that focus upon the practical applications regarding the techniques, methods and marketing orientation inside the enterprise as well as the organization and upon the management of the firm's marketing activities and resources. Thus, as opined by Kaleka and Morgan (2017, p 112), the concept of a market is broad and wide, which helps the companies to promote and sell their products in both the domestic and international market which involves the product, price, place, promotion, people, packaging and positioning. However, the present marketing management assignmentfocuses upon the international marketing management of the YSL beauty company, which is willing to launch its perfume product in the UAE market and is concentrating upon the different marketing theories and concepts to fulfil their desire to promote the product there and earn business as like it does from the other parts of the world.

Background of the company selected in the marketing management assignment
The YSL (Yves Saint Laurent) beauty is the French Luxurious Fashion Company that was founded in the year 1961with its headquarters in Paris, France. As observed by Gnizy (2016, p 150), it is noted in the marketing management assignment that the company was partnered by Pierre Berge and has revived its collection of haute couture in the year 2015. The company earns total revenue of $1.21 billion. Thus, it is considered as one of the prominent fashion houses and is recognized for its modern iconic pieces of clothes, which are used, by both the men and women. Moreover, the company manages to carve out its space in the international beauty product market with efficiency and the growth of its product sales began from its perfume and fragrance category in 2015, with the launch of its classic perfume Black Opium. As per the company reviews the sale of the perfumed based product since then it is rising about 28% every year and the brand has also spent a high amount for the pop-ups as they are seeing it as the plays of brand awareness and opportunities of data collection.

Figure 1: YSL beauty logo
Source: (Yslbeautyus.com. 2020)

3. Application of Theory into Practice
a) The role of marketing models, tools and techniques in developing new products and effective marketing plans

PESTLE analysis:
The marketing management assignmentexamines the words of Jain (2019, p.7) thatPESTLE analysis is a framework or tool that is generally utilized by the marketers for assessing and monitoring the external marketing environment or macro-environmental factors for improving the marketing performance of the organization. The PESTLE analysis framework presented in the marketing management assignment evaluates 6 types of environmental forces that are Political, environmental, social, legal, technological and environmental forces that influence the functioning of a business. Concerning the context of international business expansion, the role of the implementation of the PESTLE analysis framework is vital as it helps in identifying the factors that can influence the business in the new international market. In the present case scenario of marketing management assignment, as the company YSL -Beauty is expanding into the UAE market and launching a new product, the application of the PESTLE framework could help it to identify the social trends, technological opportunities to support the production and promotional activities, and the legal and environmental aspects related to the product launch.

Table.1: PESTLE analysis
(Source: Created by the learner)

According to Phadermrodet al., (2019, p.197), it is mentioned in the marketing management assignment that analysis of the external business factors is essential for deciding upon the product development and marketing strategies of an organization, to ensure its success in the targeted market segment. Marketing plans usually include details regarding the platforms and channels to be utilized for marketing product, the target customersegment that needs to be chosen in the market, the pricing strategies that needs to be adopted for the products and similar such aspects. Information relevant to such aspects is usuallyderived from the analysis of the external business environment, through PESTLE analysis. In many countries, few social media like Facebook and Twitter, which are commonly used for marketing new products into the market segment, is banned. Therefore,it is clear on this marketing management assignment that companies like YSL Beauty need to utilize other prevalent social media platforms as well as design advertisements, to enhance the reachability to the customers, through utilizing different relevant channels. This information is derived from the existent political as well as legal norms prevalent in the target country. The political, as well as economic stability of the country needs to be considered before determining the pricing strategies for launching the new products in the market. People with high disposable income tend to value quality over price and are ready to pay high amounts for good quality products. On the other hand, people with low disposable income looks into the price of the product as a determining factor for buying the same. Thus, according to Haak-Saheem, (2020, p.2), retrieving information regarding the economic growth of the target market in which the company is expecting to expand as well as the disposable income of the prevalent population group needs to be considered, before setting the price for the products. The disposable income, as well as the outlook of the people towards the products, also determines the demand and customer buying behaviour of a particular product launched in the market. Thus, analysis of the economic and social tenets of the external business environment considered in the marketing management assignment, through PESTLE, is important in this regards, for the success of the expansion initiatives of YSL Beauty in UAE market (Yslbeautyus.com. 2020).

Information regarding the level of environmental consciousness among the target population in the target market, tech-savvy nature of the target customers as well as the most efficient way of attracting the customers into buying the products can easily be surmised through the environmental, technological and social aspects of PESTLE tool (David et al., 2019, p.25). This allows the company to plan for establishing and enhancing their brand image in the market segment, through catering to the demands of the customers, designing products according to the needs of the customers while also contributing to the upliftment of underprivileged people as well as conservation of the environment, through the CSR initiatives of the company. The decisions regarding all these points noted in the marketing management assignment are made during the development of the marketing plan and thus, PESTLE analysis plays an important role in the development of a marketing plan as well as new products for the target market.

b) Analyze the existing segments, targeting and positioning of the company.
The YSL beauty can be analyses and the characteristics of its marketing and customer can be determined through evaluating the STP model of marketing as with the hugely fragmented consumers, this company needs to segment their group of targets for understanding the desires and wants and hence, the evaluation is mentioned within this marketing management assignment as follows,

Market segmentation
Demographic: The company mainly targets the women customer between the age group of 25-35 years. The company seeks for the higher levels of education of its customers throughout childhood and however, it also targets the women who are pursuing their education in universities who can easily understand the importance of their product regarding its fashionability, styles, design and fabric which are mainly considered as designer clothing. As expressed by Morgan et al., (2018, p 70), the company follows the multicultural brand globalisation to expand its brand awareness in the overall world and targets upon the customers who have the high rate of income of GBP 65,000. The company mainly emphasizes the socio-economic group and to the individuals who are highly educated as well as independent.

Psychographic: The psychographic fragmentation of the company mainly focuses upon the individuals who have high social lifestyles such as going out to meet friends, attending official and unofficial parties, functions and shows. The individuals who are having strong career aspirations along with the desire of having high social status are always under the target of this luxurious brand. The individuals must seek the confident self-image and purchasing motives should be there that helps in enhancing their status which will represent the Esteem level for the Maslow's hierarchy of needs. Moreover, as expressed by Yang (2018, p 1050) herein marketing management assignment, the company focuses upon the individuals who are tech and fashion savvy and who are interested in arts, rock music, travelling and varied culture, who are mainly from the new generation and are fond of embracing the inspiration and freedom.

Geographic: The Company selected in the present marketing management assignment mainly targets the developed countries which involve a high lifestyle of the citizens there. The company mainly operates in Europe such as in Germany, France, Polan, Italy, Spain, Turkey, UK and more. The target is the high qualified regions of the country and mainly the metro cities rather than the rural or suburban areas. Thus, as explained by Tanasiichuket al., (2019, p 448), the company has also expanded its market in Africa and the Middle East, North America and Asia. Hence, the study developed in the marketing management assignmentsignifies that the countries with high GDP income and employment rate are mainly in the focus of this company.

Benefits and usage
With keeping in mind the above segmentation of the market, it is very clear that YSL beauty has the strong focus on the consumers who are not pricing sensitive rather they are willing to pay as per the standard. The consumer must possess the desire to be highly fashionable to choose products from this company and the people thoroughly enjoy wearing luxury brands and designers clothes for increasing their social status. Hence, as evidenced by Skarmeaset al., (2016, p 30), it is mentioned in the marketing management assignmentthat consumers of the brand are mostly loyal to the com-ny and they do not change tiger brand fascination often, and hence are interested to buy the different kinds of products from the company’s distinguished product chain.

Targeting
The company mainly targets the women as their customers who are independent, with cheerful lifestyles and going from the high-income earners' background. They concentrate upon the women who are career-driven in any field such as business, law or marketing and are possessing a high educational as well as qualification level. The women must earn or have the disposable income that they can spend on luxurious products. Moreover, the women upon whom the company mainly emphasizes are from the high status but they mainly prefer the rocky and funky looks rather than being sophisticated. Thus, the company targets the women customers who are mainly between the age group of 25 to 35 years and are very much fun loving along with appreciating socialism and having a creative mind. Hence, as observed by Eteokleouset al., (2016, p 600), it is stated in the marketing management assignment that the stage of market targets, represent the stage of esteem in Maslow's Hierarchy of Needs, which helps in providing the status as well as the sense of achievement which every young and talented woman would desire to be.

Market positioning
The research on marketing management assignmentillustrates that the customer of YSL beauty has changed within the recent years because of the re-positioning of the brand as the older and affluent customers who used to signify elegance were among the age bracket of 35 years and above. However, with the change and renovation dine by the Slimane’s regarding the collection involving the ready to wear agenda as well as the leather goods, which is appealing for the youthful market within the age group of 25-35 years along with the mixing of edgy and classy. The customer base of the company is global and is also continuously growing into the emerging markets. As stated by Kraus et al., (2016, p 130), the company has also excelled in the middle east along with China, where the revenue has grown up to 24.3% in the year 2012, and thus, this has denoted the growth of the customer base overseas. Moreover, the sales within the countries of Europe and in Japan have also grown up to 14.9% that reflects the growth of the local customers. Thus, the primary customers of this company are fashion savvy and young who place the high values within luxury brands for increasing their social status, and these nice customers do not price sensitive and this, the inelastic products helps in generating the desirability for the customers. Furthermore, the entry-level products of the company that are the leathers, perfumes and cosmetics are highly accessible to the mass market.

Hence, from the above mentioning statements in this marketing management assignment, it is very clear and precise that the YSL beauty is the luxurious cosmetics and perfumes brand which mainly focuses upon the luxury customers who are willing to pay for the expensive products and their primary target are women. They target the customer base with high income and lavish lifestyle who can afford their brand products and mainly they sell their products in the developed country and now, are launching their brand new perfume collection in the international market of UAE and thus, the same style of STP model will be followed by the company to enhance its promotion, launch and business in the market.

c) 7P’s of Marketing (Critical Evaluation)
According to the view of Loo and Leung, (2018, p.81) considered in the marketing management assignment, 7P’s of marketing has been used by an entity for identifying the existing position of a business and determines a product or brand offerings for the future. Continuing in the same vein,Youssef, (2017, p.11), has stated in the marketing management assignment that the application of the marketing mix helps an organization to launch a new product successfully in the competitive market. The 7P's of marketing analysis has been considered here to identify the existing strategies of the company Yves Saint Laurent in the market. It would help to evaluate the efficiency of the organization to launch a new perfume product for men in the UAE market.

Product Based on the marketing strategy analysis of Yves Saint, it has been found in the marketing management assignment that the company focuses on Wide and Shallow range of products. The key products that are offered by the company various cosmetics and perfumes (mainly for women). As stated by Kaushik, (2018, p.59), top brands have the capability of providing quality and specialized products in the market. Hence, it is completely clear that Yves Saint is a renowned French fashion brand which has a high brand value in the market. To enter into the new market, the organization has to consider unique products to create brand value to the customers. Based on the seasonal trend, the company focuses on providing classic products to the customers and it has developed brand values of the company. Hence, in the case of launching new perfume in the market, the company needs to consider seasonal trends of the business. According to the view of Išorait?, (2016, p.31), the effective product portfolio can help an entity to enter into a new market after evaluating consumer behaviour including taste and preferences. Hence, in the current case, the organization can consider product portfolio to enter into the market of UAE.

Pricing Based on the view of Kienzler and Kowalkowski, (2018, p.103) utilized in this section of marketing management assignment, pricing strategy is an important matter in the case of launching new products in the competitive market. This is because the people consider the quality of products with price and based on this comparison the justification of price is evaluated by customers. The existing pricing strategy analysis of the company noted in the marketing management assignment reveals that “Premium Pricing Strategy” has been followed by the organization in the market. This is because the target market of the company is to launch products for high-income group people. To launch the men's perfume in the market of the UAE, the company has to consider competitive pricing at the initial stage. This is because; it would help to make a position in the market easily. After developing the brand value, the premium pricing strategy would help to enhance growth.

Place
The company explored in the marketing management assignment focuses on both online and offline mode of selling. The most important matter is bricks and mortar based selling strategy is used by the company. Recently the organization has increased online selling and provides offers to the customers. In the case of entering into the market of the UAE, the company needs to focus on both online and offline modes. The online strategy would help to provides offers on new products. Furthermore, the bricks mortar banks based sale would help to provide an attractive place to the customers.

Promotion
As mentioned by Zhu and Gao, (2019, p.35) digital marketing platforms including the internet, web-based intimation and e-mail have become the most important strategies to promote products. The management of Yves Saint Laurent considers digital marketing platforms and social media marketing strategy for promoting their products. They have a community in the Facebook, Instagram and YouTube for reaching international customers. Based on video content they launch their products in the market and it helps to intimate easily to the customers of the entire world. Furthermore, it is also mentioned in the marketing management assignment that they focus on advertisement strategy for promotion in the local market. Hence, to develop the market in the UAE, social medial marketing would be the appropriate promotional strategy to the management of Yves Saint.

People As mentioned by Datta et al.,(2017, p.19), service is the key tangible element in the case of a business entity as it provides a positive experience to the customers. Based on marketing strategy analysis of Yves Saint explored in the marketing management assignment, it is found that the service is the key tangible element of the organization that customers can experience. The customer service of Saint Laurent has a high standard and it is attentive which has provided a good experience of purchase to the customers. From managing director to other middle and lower-level employees are responsible for developing the quality of service. Hence, people management is successfully done by the management of Yves Saint Laurent.

Processes
As depicted by Jackson and Ahuja,(2016, p.173) with regards to the marketing management assignment, the process is the important matter in the marketing mix which helps to interact with customers to new brands of a company. In the case of Yves also, it is found in the marketing management assignment that the process for a Yves customer is any moment that they interact with brands of the company. It includes the shopping experience of consumers, internet access and changing rooms. The ultimate objective is to continue the business process effectively to provide a high-quality experience to the customers. The management maintains uniformity in their service and it helps to provide identical service to different outlets in the market.

Physical Evidence
As asserted by Abril and Rodriguez-Cánovas,(2016, p.171), physical evidence is one of the important matters in the marketing mix as it helps to increase customer experience easily based on a specific service. The management of Yves Saint Laurent focuses on the online photography of their products for attracting more customers. To launch men's perfume in the market of the UAE, the company needs to consider online photography with features to attract customers easily.

Based on the above discussion on marketing management assignment, it has been found that the brand value can be developed by Yves Saint Laurent based on appropriate 7P mix and it would help to launch new products in the market of the UAE.

d) Strategies adopted by the company for enhancing brand equity
Herein marketing management assignment, as mentioned by Mills and Williams,(2016, p.121), brand equity is the key concept of business of development of an entity in the domestic as well as international market. A company focuses on strategic development process for enhancing brand equity including product differentiation, effective customer relationship and quality of service. The brand equity creates a unique image of an entity to the customers for developing the organizational performance effectively. The adopted strategies of Yves Saint Laurent Beauty for enhancing brand equity in the competitive market are discussed below.

Differentiation
Burberry is the strong competitor of Saint Laurent in the market of perfume and hence, the management has already focused on the creation of different products for their customers. In terms of smell, the company has adopted a unique strategy for enhancing its market in the competition. The differentiation strategy has created brand awareness among the customers and the market has been developed. As mentioned by Chekalinaet al.,(2018, p.41) within this marketing management assignment, brand awareness is an important factor in the case of developing a product in the market. Continuing along the same line,Cottan-Nir, (2019, p.131) have stated that brand awareness of a product is an important element to enhance the market position. The management of Yves has focused on the development of the brand value of products by differentiating different cosmetic and beauty products. The entity has focused on differentiation in the promotional strategies to enhance the market. Effective and ethical advertisements have enhanced the market of Yves Saint Laurent and the customer base has been increased.

Figure1: Adopted Strategies of Yves to develop Brand Equity
(Source: Developed by Author)

Building Good Relationship with Customers
According to the view of Naidoo and Abratt, (2018, p.11), good customer relationship helps a business entity to enhance the market easily and the brand equity can be developed. Analysis of psychological factorsdone in the marketing management assignmentis an important matter in the case of building a good relationship with customers and it is followed by the management of Yves Saint Laurent. The organization has built an effective relationship with customers based on social media marketing strategy. Two key platforms that are used by the company are Facebook and Twitter. The Facebook platform has been used by the company since 2011 and the majority of customers have been developed effectively through Facebook marketing. The community group of the company has provided positive feedback regarding the beauty products of the company. It is evident in the marketing management assignmentthat during the year 2013, twitter followers of the company are 1.6 million and now it has been increased to 3.7 million throughout the world.

Effective Implementation of STP concept
As mentioned by Loo and Leung, (2018, p.89), market segmentation, targeting and positioning are three major concepts in the case of marketing and this help to develop the brand value of a company. In this marketing management assignment, we will see that the management has identified the importance of this concept and it has enhanced their brand equity. The target market group has been considered based on the income group and high-income group people are key customers of the company. Hence, the target market is predetermined by the organization and based on their requirements service quality has been developed. Hence, the STP concept application has helped the management to identify the target audience and it has developed brand equity of the company. The development of a positioning map of the company in the competitive market has helped to reach the new customers and developing brand equity in the market. This is because; the existing position has been analyzed with other companies including Burberry, Zara and so on.

Effective Communication with the customers
To create brand values in the market, effective communication with customers is important to a company. It reveals that the management has to covey the actual value of a product to the customers based on which the utility of the product can be evaluated by consumers. The brand equity reveals the additional value of a product in the competition and that can be developed based on the creation of high brand awareness among the people. It is evident in the marketing management assignment that the management of Yves has focused on the communication of actual values of their beauty products to the customers and it has developed the market of the business in the competitive business environment. The new beauty products including women’s perfume and cosmetics products (skin cream, hair oil) have created additional values to the customers and it has developed brand equity of the company in the domestic as well as international market.

Based on the above analysis on marketing management assignment, it has been identified that Keller's brand equity model has been successfully applied by the company. This model has four elements including the identity of the brand, communicating the brand meaning, Brand response and Brand Resonance(Yousaf et al.,2017, p.121).

Identify of Brand: The product differentiation strategy and effective communication both have helped the company to create a brand identity in the fashion industry. The entity has developed an identity in the competition with Burberry, Zara and other companies.

Brand Meaning: Social media marketing and effective communication have helped to develop brand equity in the competitive market. The top-level management of Yves has successfully reached the customers by intimating the actual value of products and organizational brand value has been expanded.

Brand Response: Based on the communication and marketing strategies outlined in the marketing management assignment, the company has obtained positive feedback from the customers and their brand value has been developed in the market. Hence, it can be said in the marketing management assignment that the organization has provided quality service to the customers and it has developed value.

Brand Resonance: The effective customer relationship of the entity has developed the brand equity of the company in the competition and brand resonance has been improved.

e) Consumer Behaviour on Brand Management of the company
Application of Kotler’s Model of Consumer Behaviour
As depicted by Karunaratna and Kumara, (2018, p.71) in the present context of marketing management assignment, key factors that have a direct effect on consumer buying behaviour are cultural factors, social factors, Personal Factors and Psychological factors. These factors are mentioned by Phillip Kotler in his model of consumer behaviour. The cultural factors noted in the marketing management assignment include subculture and social class that are influencing the buying behaviour of consumers (Kotler et al.,2018, p.21). The analysis of marketing strategies of Yves Laurent, it is found in the marketing management assignmentthat the target audience of the entity is a high-income group. Hence, the company provides luxury products only and the high social class people have the affordability of beauty products of YSL. The branding has been made only for high-income group people and hence, based on the branding consumer can identify the type of products of YSL. It is clear from the analysis done in the marketing management assignment that the consumer behaviour of high-class people has influenced the brand management of YSL.

The social factors include the family status of an individual and it depends on the income and cultures. The management of YSL considers high-status group people to develop their product performance. Hence, based on social factors, the company tries to develop its brand values which depict that consumer behaviour has a significant impact on the brand management of an entity. For instance, the product portfolio of YSL beauty consists of two categories of products including cosmetics and perfumes. This has been made based on the buying behaviour of high-income group people. Hence, consumer purchasing performance has helped the management to create an optimum beauty products portfolio. In the new entry process, this strategy would help the entity to expand the market easily. This is because it would help to identify buying status and motives of consumers and required products can be delivered to the customers.

Figure 2: Kotler’s Consumer Behaviour Analysis
(Source: Developed by Author)

Based on Kotler’s model of consumer behaviour, it has been identified in the marketing management assignment that Personal Factors includes taste preferences of average customers (Kotler. and Armstrong, 2010, p.29). As depicted by Hofackeret al.,(2016, p.31), the analysis of personal factors of consumer behaviour is important for identifying what types of products are essential to the consumers. The management of YSL has a strong focus on the personal taste, preferences of average customers to expand the market in the competition. Hence, the analysis of consumer behaviour helps to launch new products or enhance the quality of existing products in the competitive market and organisational performance has been developed. The brand equity can be enhanced based on launching new products and it is clear that consumer behaviour help to make a plan to a company to manage a brand.

As asserted by Dwivediet al.,(2017, p.49) with regards to thecase scenario of marketing management assignment, psychological factors including the motivation of buyers, beliefs and attitude of customers are important in the case of analyzing the behaviour of consumers. This is because the demand of product varies from one individual to another based on personal beliefs and attitudes. This is why the management of YSL has considered a specific income group as their target audience. In this case, the beliefs and attitudes of the average people are identical. Hence, psychological factors help to identify the buying motivation of consumers and brand management can be done successfully.

Application of Howard and Seth’s model
Based on the analysis of Howard & Seth’s buying behaviour, it can be said in the marketing management assignment that the elements of consumer behaviour analysis can be classified into two categories including exogenous variables and Hypothetical construct(Prakash, 2016, p.43). The exogenous factors include a social class of an individual, family status and income group. Based on this factor analysis, it can be stated that Yves Saint Laurent Beauty focuses on the specific economic group as target customers. It has helped the organization to enhance its position in the domestic as well as international market. The brand equity has been expanded to their target customers based on the analysis of consumers’ requirements. Hence, it is also clear in this segment of marketing management assignmentfrom the application of Howard & Seth’s model that consumer behaviour has a direct impact on the brand management of a company. The reason is without identifying the requirements of target customers, brand development cannot be made by an entity.

Figure 3: Howard and Seth’s model of buying behaviour of consumer
(Source: Developed by Author)

On the other hand, based on the hypothetical construct analysis, it has been identified in the marketing management assignmentthat learnings, attitudes and perceptions are important elements in the analysis of consumer behaviour. The reason is an analysis of these factors helps to identify the brand performance of an organization (Finne and Grönroos, 2017, p.461). After analysing the requirements of consumers based on attitudes and perceptions, brand equity is enhanced by an entity. Hence, the discussion reveals that consumer behaviour analysis has a direct impact on the brand management of a company. It can be said herein marketing management assignment that attitudes of customers help to identify the actual requirements of customers to develop product performance and it enhances the brand values of the company.

The comprehensive analysis of the importance of consumer behaviour based on two models, it can be stated that without analyzing the behaviour of customers, the brand management cannot be made by an entity. The analysis of attitude and perceptions of customers becomes easy while a specific target group has been considered by a company; hence, the management of YSL has successfully developed their brand performance in the competitive market as they have considered a specific target group. Hence, the company has successfully done the brand management based on customer behaviour analysis and it would help to launch the new product in the new market also.

f) Evaluation of the strategy of YSL Beauty
The organization YSL beauty currently implements several business strategies that help it is functioning adequately in the existing markets. However, to function effectively in the chosen international market that is UAE, YSL Beauty has to apply different strategies based on the environmental factors and the trends in the UAE market. BCG matrix (The Boston Consulting group’s product portfolio matrix) is an important tool that has been developed to aid the long-term strategic planning process of the business organizations. According to Torquatiet al., (2018, p.262), it is mentioned in the marketing management assignmentthat BCG matrix can help companies to review the opportunities that they possess with different products to locate the investment areas. On the other hand, Ansoff Matrix is a tool that is highly implemented in the marketing planning process of the businesses. These two strategy frameworks have been used with YSL Beauty to identify its existing business strategies and suggest appropriate business strategies for successful marketing in the international market of UAE.

BCG Matrix
As per the explanation of Madsen (2017, p.25) noted herein marketing management assignment, BCG matrix includes four different quadrants that are developed based on relative market share and the market growth rate. The four quadrants are named as Star, Question mark, Cash cows and Dogs. It has been identified in the marketing management assignmentthat the Star products of an organization are the products that operate with a large market share within a high growth market while the Dog products operate with a low market share in a market that is characterized by low growth. As opined by Boboceaet al., (2016, p.137), Cash cows are the products that perform in a low growth market but possess a high market share. On the contrary, the Question mark products function within a high growth market with a relatively low market share.

Figure 4: BCG Matrix
(Source: Madsen, 2017, p.25)

Dog products
From the explanation of Boboceaet al., (2016, p.137) it can be demonstrated in the marketing management assignment that dog products are those products of a company that negatively impact on the overall performance by training resources. Therefore while establishing the business in the international market of UAE, initially; YSL Beauty is required to remove the dog products from its portfolio. This can result in oversimplification of the product portfolio and can help the business to generate revenue with a less operational cost.

Cash cow products
The cosmetics and perfumes of YSL Beauty that are specifically designed for the payment customers can service cash cow products in the UAE. Therefore the organisation can be suggested to market these products effectively in the initial periods of the expansion. However, after the betterment of a sustained level of sales in this segment of marketing management assignment, the organisation can withdraw the added efforts of marketing and promotion as these products require a lesser marketing effort.

Question mark products
Question mark products are those products that have a relatively low market share but over it in a high growth market. Therefore, in the present case of marketing management assignment, based on its performance, the product can turn into either a star product or into a dog product. As YSL Beauty is a new entrant into the UAE market and it will launch a new product that is a Men perfume brand, the initial market share for the product will be relatively less while the growth rate of the market is very high. Therefore the product will serve as a question mark product for YSL Beauty. However, the organisation has to put consistent effort and investment into turning the product into a star product for gaining a greater return on investment.

Star products
According to Medaracet al., (2016, p.59), star product relates to the specific product of a company that serves as a market leader and therefore requires ongoing investment for a sustained level of return on investment. It has been identified in the marketing management assignment that a star product may be able to generate a greater return on investment than other product categories. The Men perfume to be launched by YSL Beauty can be transformed into a star product after a long time in the UAE market.

Ansoff Matrix
The Ansoff matrixdeveloped in this section of marketing management assignmentalso includes four different quadrants that represent four different types of strategies for a business based on the type of market and the type of products. The four different strategies that are represented in the Ansoff matrix are market penetration, market development, product development, and diversification.

Figure 5: Ansoff Matrix
(Source: Kukartsevet al., 2019, p.022107)

Market penetration
According to Alyamani, (2020, p.89) it is stated in the marketing management assignmentthat the strategy of a business organisation to market the existing products in the existing market related to the market penetration strategy. Concerning the present scenario of YSL Beauty in this marketing management assignment, the market penetration strategy is not highly effective as it fails to enhance the consumer base of the company. Moreover, this strategy is also not effective for the organisation to support its aim to expand internationally. However, while expanding into the new market the organisation would continue to market and promote its product in its existing markets with the market penetration strategy.

Product development
Product development strategy is the strategy to design and launch new products in the existing markets of business. For the organisation YSL Beauty, which is expanding into an international market the choice of product development strategy is not fruitful as it is only applicable to the existing business markets.

Market development
The market development strategy relates to the launch of existing products in the new markets (Kukartsevet al., 2019, p.022107). This type of strategy noted in the marketing management assignment can be very effective for the organisation YSL Beauty as the brand recognition and the review of the existing products can help the company to enhance its cells in the new market. Moreover, the application of a market development strategy can be less risky for the company to gain success in the international market.

Diversification
Diversification strategy is the riskiest business strategy for any organisation (Khajezadehet al., 2019, p.810). In this type of strategy, business organisations can launch new products in the new markets. The launch of Men perfume brand in the UAE relates to a business expansion along with a new product and can be stated as a diversification strategy. However, this strategy can be highly effective for the business of YSL Beauty considering the high demand for Men perfume in the UAE. g. What are the skills set needed by a marketer to launch a new product mentioned in the marketing management assignment?

For organisations that are expanding into the new market, product marketing is crucial. In the opinion of Roberts and Darler, (2017, p.20) considered in this section of marketing management assignment, to ensure a successful launch of a new product in the new market, the product marketing manager needs to possess an important set of skills. It has been identified in the marketing management assignment that the role of the product marketing manager or marketer impacts on the intersection of product, marketing, and sales. For successful marketing and promotion of a new product in a market, the marketer needs to carry out several activities. Considering the different activities that are required to be carried out by the market for supporting the launch of a new product, the following skill sets are important for a marketer.

Figure 6: Role of product marketing at the intersection of Product, sales and marketing (Source: Darler, 2017, p.20)
Creativity and problem-solving skills: The marketers for a new product can encounter various issues and difficulties while marketing a product. Therefore the marketers of YSL Beauty are required to possess strong problem-solving skills that will enable them to mitigate different issues that can arise while marketing the new Men perfume in the UAE market. Moreover, creativity skills can also allow marketers to generate creative solutions to the problems.

Strategic planning skills: As per the statement of Qureshi et al., (2017, p.15) considered in the marketing management assignment, marketers of new products should possess strong business skills that relate to strategic planning. The marketers of YSLBeauty must know different strategic planning tools that are generally applied in marketing planning and should possess the skill to apply those tools in appropriate situations for making decisions regarding marketing.

Empathy and communication skill: It has been identified in the marketing management assignment that empathy is an important ability that is not only required for the roles wherein employees need to face the customers but it is also required for supporting the functions like marketing (Rust, 2017, p.1). By having the skill of empathy, the marketers of YSL Beauty can connect with the customers more strongly. Furthermore, the effective communication skills which are supported by good listening abilities is also important for the marketers of YSL Beauty which can help in developing a strong relationship with the customers.

Marketing skills: Marketing skills can be regarded as the most obvious and most important skills of marketers (Edvardssonet al., 2014). Different marketing skills involve effective and clear copywriting skill, good market forecasting skill, creative contents development skill, demand forecasting skill, social media marketing skill, digital marketing skills, storytelling skill, and good project management skills. Therefore, for the launch of the new product into the market, the marketing professionals of YSL Beauty are required to have strong marketing skills.

Research and analytical skills:
Market research on marketing management assignmentis an important function in the marketing of new products (Quinn, et al., 2016, p.2122). Therefore the marketers of YSL Beauty are required to possess strong research and analytical skills that can help them in conducting detailed market research and use the analytical tools to make decisions regarding the products in the new market.

4. Conclusions and Recommendations
Recommendation
As compared to the opportunities that have already been outlined for YSL beauty to manage the increasing competition pressure and intense turbulence the company must focus upon the marketing strategies that are as follows,

• Development of the CSR (Corporate Social Responsibility) for adapting the increasing concern and interest in the ethical and green issues that are surrounding the global manufacture as well as sales of the fashion products. As expressed by Sun et al., (2016, p 240) herein marketing management assignment, with the growing concern regarding the social responsibility, the company is in the need for ensuring their products and promotion are socially as well as ethically acceptable. The company should also get involved within the Green Carpet Challenge in the London fashion just like the other competitors such as Stella McCartney or needs to support the relevant charity.
• Becoming more innovative with the help of the digital platform that ensures its correspondence along with the new branding. Thus, the company should inspire to become the digital innovators and with the fast development of the digital industry, they should also consider the contemporary technologies for ensuring that they are proactive thinkers which have helped them in a competitive advantage. Moreover, they need to focus upon the rebranding of their digital media to YSL Paris. The company can also consider engaging their prospective buyers into an interactive video regarding their sourcing, manufacturing and logistics procedures, to showcase the level of concern towards customer satisfaction, as exhibited by the company, while depicting the transparency in the processes.
• Entering into the new market such as in UAE, India, Bangladesh, Thailand as looking up to their economic factors. As stated by Yang and Gabrielsson (2018, p 20) with regards to the case scenario of marketing management assignment, this would help the company in their global expansion and should consider these untouched markets for the luxury goods like perfumes and cosmetics where it has provided the forecast of growth that is nearly 86%.
• Collaborating with the music icons that will help in designing the products for cohering with the image of rock and roll. Thus, these growing successes within the collaboration among the celebrities designed products for luxurious brands can be an essential opportunity for YSL to exploit. They can utilise the music icon for reiterating their relationship along with the music industry as well as to appeal towards the customer who is youth-centric. Thus, this collaboration creates the buzz around the brand along with attracting the press coverage and has helped to gain credibility within the new markets. Hence, this will create the opportunity for identifying the sources of the competitive advantage along with supporting the development of the brand (Pedadaet al., 2019, p 15).

Conclusion
The present marketing management assignmentfocuses upon the international marketing management concept, which highlights the marketing strategies adopted by the French Luxurious Fashion Company that is YSL beauty. The study on marketing management assignment mentions the application of the theory into the practice that follows the models, concepts and theories such as marketing models, techniques and tools for the development of the new products along with an effective marketing plan utilizing PESTLE model and its impact on framing the marketing plan as well as for deciding on new product development. The analysis of the STP model for the company, evaluation of the marketing mix such 7Ps of the YSL beauty, evaluation of the strategies adopted by the YSL beauty to the enhancement of the brand equity, analysation of the consumer buying behaviours impacts upon the brand management of YSL beauty is mentioned within the marketing management assignment. The study on marketing management assignment determines the evaluation of the skills set which the marketers for the launch of the new products of YSL and thus, the recommendation need is provided for the adequates marketing strategy for YSL beauty for expanding their business within the global market. The study on marketing management assignment also provides the assignment 2 for the launch of the new perfume products in the market of UAE which involves the summary of the marketing plan with reflecting the possible limitations and challenges along with the proposed ways and plan for overcoming them. ?

Assignment 2
1. The summary of the plan along with reflections on possible limitations and challenges with the proposed plan and ways to overcome them

In this marketing management assignment, the lunch of the new Men Perfume brand in the UAE by the organization YSL Beauty is a part of its international market expansion. From the implementation of the PESTLE and SWOT analysis, the opportunities that the organization have in the UAE are identified that made the decision making regarding the launch of the new product range easier. As a part of the marketing plan, organisations will implement a demographic segmentation strategy and will segment the market based on gender, age, and income level. YSL Beauty will target the Men customers who belong to the age group 25 to 35 years and have a high income such as $65000/year. The marketing mix outlined in the marketing management assignment presents the product strategy including the Men perfume brand that will be implemented by YSL Beauty and describes that a premium pricing strategy will be implemented. The organisation will implement both brick-and-mortar best distribution strategy and online selling strategy in the market of the UAE and promote its products with digital marketing platforms. The organisation will also implement differentiation strategy and STP strategy for enhancing the brand equity in the market for a new product. With this strategy of marketing management assignment, the company can develop a good relationship with its customers through effective communication.

While functioning in the market the organisation will face tough competition from the existing market players (Handa and Handa, 2017, p.88). I believe that during the initial periods of expansion the company will encounter a relatively less market share for its new product. So, I think the organisation has to focus on gaining foreign direct investment to support the marketing activities of the new product range in the UAE market for increasing its sales and to generate a high return on investment. Cultural differences can also be a major risk factor for YSL Beauty in the new market. The cultural differences between the employees of the home branch and the UAE branch can generate internal conflicts that can result negatively on business decision making. Apart from that sales employees of the concern organisation can also face difficulty while communicating with the customers in the UAE because of the cultural differences. So,from the overall marketing management assignment analysis, I feel that YSL Beauty has to focus on the development of the employees regarding the cultural differences and train them appropriately to communicate effectively with people from diverse backgrounds. By training the employees regarding the intercultural communication the organisation can also mitigate the problems of communication between the sales employees and the customers (Tran et al., 2019, p.622). ?

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