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The launch of Freshest deodorant will define the anti-perspiration market. A new chemical, dereliction, will put Freshest above the competition. Dereliction will allow for freshness through the toughest sweats. After 20 years in the hygiene market, return on investments have been average. After the launch of Freshest, revenue is expected to be above average.
Currently, the market is saturated with below to average products that only mask the problem. Freshest will eliminate the problem effectively up to 5 days, even after showering. With the current hygiene relationships in place (with both consumers and businesses), brand quality and brand trademark is not expected to be problematic. The principles on which Remount Corporations were founded will continue to be the foundation and cornerstone of the market. II. Situation Analysis Freshest is entering its initial launch into the anti-perspiration market. Its initial launch will determine the investments to Freshest.
Freshest will proceed with ending from the existing hygiene products until enough revenue is generated. Freshest is possibly looking for international endeavors. A. Market Summary Remount possess inside intelligence about the market. With the knowledge of the past market flow for the previous 20 years, Freshest is a definite necessity and will excel in the present market. I. Target Market a. Fitness b. Sports I. Adolescent it. Professional Airwoman Marketing Plan By mechanisms b. Market Demographics The following geographic, demographics, and behavior factors are for Freshest products. I.
Geographical 1. There is no set target geographic area. 2. Overall general use is expected for the product. 3. Targeted population is approximately 100 million people across the country. Demographics 4. The ratio is greater between male and female. 5. The age ranges for the target market are as followed: a. The fitness market will range from late teenagers to the early adulthood, ages 18-40. B. The sports market will range from high school adolescents to professional athletes and extreme sports. The high school adolescents’ ages will range from 14-18. The professional athletes will range from 20-45.
The extreme sports market will range from those within the ages between late ass to mid-ass. Iii. Behavior Factors 6. Adults have an average of $32,000 annually income. With an estimated $175 monthly to spend on hygiene products. Necessary products for fitness and cleanliness. 7. Adults will spend on 8. This product is promoted for those who have active fitness lifestyles of 3 or 4 times weekly. C. Market Trends Freshest will distinguish itself by offering an irreplaceable need to the market. There are products in the market that are ineffective at reducing the smell after the perspiration forms.
The extreme and professional and high school sports would be the market that would be targeted more aggressively. Each target market would be focused on intensely. D. SOOT Analysts ‘v. Strengths 9. 20 years of hygiene experience 10. Ingenious product 11. Controls the perspiration 12. Length of time it lasts v. Weaknesses 13. Brand awareness to a new product 14. Chemicals used to make product 15. Staining of clothes v’. Opportunities 16. Become forerunner in the anti-perspiration market consumer’s needs vii. Threats 18. Existing products 17. Expand to fit 20. Brand trademark for existing brands .
Competition Freshest will have to pursue customers who are already loyal to particular brands. Breaking brand loyalty will be a challenge, especially with brands that have been on the market for a long time. Freshest is the competing for the leading brand in the viii. Degree Degree claims to be 3 times stronger than any clinical strength deodorant in the market. It claims that the more work you do, the harder the product works on keeping your perspiration too minimum. They guarantee that you can depend on Degree, even in the toughest situations. “Our strongest wetness and odor protection yet!
Stay ahead of sweat with a product that’s as strong as you are. Prescription strength wetness protection with XX the power of a basic antiperspirants . And now also Degree with motionlessness, so the more you move, the more it protects. ” (Degree, 2013) ix. Suave Suave promises to serve 24-hour protection from underarm wetness by providing over the counter prescription strength ingredients. It even comes with fresh scents in order to distinguish themselves from the other products on the market. (Suave, 2013) x. Secret Secret is endorsed to be proven to work even harder under added stress.
It provides restriction strength clinical protection. They advertise to have to protection needed in order to satisfy their consumers. (Secret, 2013) Ill. Marketing Strategy This strategy will provide in depth insight in order to conquer the competition and become leaders in the target market. F. Mission “Freshest exists in order to deliver significant results and provide outstanding customer service. Providing maximum solutions to consumers will ensure success with positive feedback. ” g. Target Market The anti-perspiration market will be an enduring test of Freshest. IV. Financial h.
Break Even Analysis Break Even Analysis: I Monthly Units Break Even | 50 | Monthly Sales Break Even | $2,340 | Assumptions: I Average Per-unit Revenue | $46. 80 | Average Per-unit Variable Cost | $3. 96 | Estimated Monthly Fixed Cost | $1,823 | I. Sales Forecast sports | $29,345 | $38,420 | Fitness I $17џ40 | $21,985 | Total sales | $46,685 | $60,405 Direct Cost of Sales sports | $19,435 Fitness | $13,209 Total Cost of Sales V. Controls | $21,429 | $16,908 | $32,644 I $38337 J. Contingency Planning The contingency plan will be placed in effect in the case that Freshest falls below the targeted goals set.
Airwoman will adjust the target market for Freshest in order o better gauge performance. Clinical groups will be initiated with consumers in order to find the best solutions for them. Remount Corporations will begin innovative marketing research techniques for Freshest deodorant immediately following the booking of the project site. This strategy will provide in depth insight in order to conquer the competition and become leaders in the target market. Marketing research will be conducted in research study groups. These study groups will be built with the representatives from each target area member.
They will include a group for the fitness and sports market. Also the sports market will be broken into subgroups of adolescent, professional, and extreme. Each group/subgroup will be put through daily activities and the levels of activeness will be gagged. Each level will be designated too particular level of the Freshest deodorant activeness testing phase. These phases will be the determining factor in the level of freshness each group/subgroup display. Collection of data is an important part of research. It is a technique that is fundamental to the research process. There are two main means of collecting data, primary and secondary data.
Primary data refers to those data collected for the pacific purpose of the research. Secondary data stands for data collected for other purposes like published summaries and through other means such as books, journals, scholarly articles, newspapers, company documents, internet, e-Journals, and etcetera. Interviews are one of the methods used in collecting qualitative data. The process consists of a purposeful discussion involving two or more people. It is important to note that the unstructured interview of which this research will be adopting has the capability of allowing the researcher to explore as much as possible his areas of interest.
The importance of this research process to the research understudy is that it will offer the researcher the freedom to move into any area of interest. Some of the questions that will help in analyzing the need of the customers in order to better Freshest would be: What is your preferred fragrance, if any, of the deodorant most in liked by the customers? What is the approximate price range in which you will prefer Freshest deodorant? What are the places where you frequently buy deodorants? What kind of packaging is most preferred by you? Expectations or are above minimum performances expectation. This will not only lead to the customer satisfaction but will leave customer delighted. Once a customer is delighted, word of mouth will carry Freshest through the market. During the research forum, the panel will disclose personal and detailed information about the product. It will determine the level of satisfaction for each person. Freshest has to focus on generating high customer loyalty by delivering high customer service by designing superior value proposition backed by superior value delivery system.
Freshest success depends on the way it creates and deliver the value which is period than its competitors, which is develops following capabilities of understanding customer value, creating customer value, delivering customer value, capturing customer value, and sustaining customer value. Freshest will also focus on being the customer friendly in order to create high customer satisfaction. The company needs to focus on selling at low price and providing differentiated product to the consumers. The company can measure the customer satisfaction through the customer retention.
For this the company needs to focus on periodic survey which will help in analyzing the customer satisfaction and loyalty. With the variety of marketing research methods that are available, the study group is the best suited for this experiment. It allows close study for the changes and challenges that will come along with this experiment. There are various marketing segments that have to be considered. Freshest will be broken into the following segments: age, gender, marital status, geographic location, occupation, and social class. This segmentation is important because it familiarizes the company with the needs and wants of the consumers.
Such segmentation may lead to creating different ads or concepts for each market segment. For example: Freshest Marketing Segments I Age | 18-24, 25-35 | Gender I Male, Female I Geographic Location I United States, Canada, Mexico I Marital Status I Single, Divorced I Occupation I Professional athletes, Extreme sports, Fitness Instructors, Parents I Social Class I Working class, Middle class, Upper class With the division of these segments, the marketing process is seen to be easier identified and makes the target market more recognizable. This will make the marketing more effectively to the target audience.
The age segment markets to the young to middle adults. This segment is determined by the occupation segment. They are directly related and both beneficial to each other and to the marketing of Freshest. The social class is that of the working, middle, and upper class. The working class is the normal, day to day persons. This includes parents, teachers, instructors, students, and etcetera. This class very important because they will be the most targeted and heavily consumed persons. The working class is the backbone resources in order to compete and live above their means in order to try and achieve a wealthy lifestyle.
They are the extreme sports person, the fitness instructors, fitness person who look to stay fit. This class will be the largest consumers of Freshest. The middle and upper class will include those who are the professional athletes and world travelers who rely on the body staying fit and smelling fresh as a career importance. Gender will not be discriminated against as both males and females are concerned with body odor respectively. The target geographic location will be North America which includes Canada, the United States, and Mexico. We will look in the future to make Freshest internationally known and the brand of the Olympics.
These plans are the foundation of Freshest that will forever change the nit-perspiration market. Remount will address the customers’ buying decision by influencing it. Remount have some of the top rated celebrities in the music, television, sports industry as spokesperson. Remount will also use models and even ordinary day to day persons to advertise. These advertisements will include television commercials, posters, flyers, radio, and most importantly loyal customers’ word of mouth. Although trusted celebrity endorsements are welcomed and effectively, the word of mouth of satisfied customers will outweigh what any celebrity says.
Customers will be more enticed to u products once someone they know and trust confirms that it does what it says. Along with media advertisement, free samples will be given at gyms and health pharmacies in order to produce a brand loyalty. The samples will give a sense of how effective the product is and will open a gateway into the market for Freshest. The website will offer coupons and discounts to consumers who sign up for email notifications. There will also a loyalty program that will be in place with the local stores (Kroger, Walgreen, Brokerage’s, Rite Aid, and C.V.) who carry Freshest.
Using he loyalty cards that are already in place at these locations Freshest will be able to gage the amount of product that is moving off the shelves. According to ordering logs, Remount will be able to make sure that the shelves are stocked with Freshest when the product is running low. Freshest does have the challenge of making its product stand differently than the rest. Although Freshest is the best product on the market, making the brand stand out will be challenging. In order to help alleviate this challenge, we will leverage the brand by deploying a brand campaign that pulls people toward the product.
This quinine will allow people to sample the product in smaller amounts in order to sufficiently prove the product to the consumers. This will then pull consumers to spread the product via word of mouth. We will also use service innovation to set aside ourselves from the competition by focusing on the price, availability of the product, and provide an answer to customer concerns. The product design will also set itself apart from the competing brands. Freshest is designed to last up to five days even through showering. This is the best product that has ever hit the shelves. It will be a great asset to various persons of interest.
The package design will also be different. The spokesperson associated with Freshest will have an impact on the way the product is different. It will enhance brand personality and associate a tone for the product. A famous logo is the Mike check. A tagging or Jingle or catchphrase will be a simple phrase that will be something that the consumers will remember and retain. Freshest is a long lasting deodorant which suits those who have a very active lifestyle. This is advancement in this market. Men tend to sweat more than women so Freshest will be pushed toward the make gender more aggressively.
Remount will deploy the following strategies when it comes to the comparative advantage of Freshest. Remount will use the distribution channel which is essential and vital to the success of Freshest deodorant. The distribution channel can make the product readily available to the consumers and make sure that the stock is always filled when in demand. We will provide this promise by committing long term contracts to the retailers of Freshest products. This is vital as we want to infiltrate the market. Remount will maintain total control and ownership of all intellectual property (ideas) (Management, 2013).
The unique chemical used to make Freshest is the key component in the success of the product. The chemical will be patented so that it cannot be used by another company for similar brands or as a generic brand by the retailers. Constant innovation will be vital to the success and expansion on Freshest. We cannot and will not become complacent with the revenue that we will gain. We will always be looking for fresh, new marketing techniques for the product. Preserver’s product value level will set the price and determine the target market because different market segments will seek value.
Also it will seek features. Ever fresh’s core benefits will give the customers protection for up to five days. It will aid in decreasing perspiration in customers. Freshest is made from the same company Remount who has been making hygiene products for over 20 years in the target market. The basic product is the product itself Freshest. The product will be made into an invisible solid, a creamy solid, an aerosol spray, and a roll on. We are making various forms of the same product in order to satisfy all consumers. We feel that the customers expect that we fulfill each promise that we make.
We will deliver each advertised aspect. In some instances, Remount knows that failure to deliver the promised benefits it illegal (Sardonic, 2013). Freshest is uniquely different. Being the only product in the market that will last up to five days even after showering, it is set apart from its competitors. It will be available in multiple stages or forms. The backbone of this campaign will be the differences that this product last longer than any product on the market (Sardonic, 2013). That this product is the first of its kind, it is the only kind that is available on the market as of now.
Pricing for Freshest will be based on the market value of its competitors. The prices will vary based on location as well. For example, the price value in New York, New York will be different that Denver, Colorado and Toronto, Canada. This fluctuation of prices is directly related to the cost of living in each city. We do estimate that the average cost of the invisible solid will be approximately $3. 99 for each stick of deodorant. This can vary again by locations. This is the best approximate estimate that we can give. Product is directly related to the target market (Mustiness’s. Mom, 2012). They will be lightly scented for both genders. It will be appealing all consumers. Each gagged will be identified accordingly to the specific target gender. The female Freshest will be scented specifically for the female gender. Such as the male Freshest will be directly related to the male gender. The labeling specifically for each gender will be used in order to create some closeness to the target market. It will allow the audience to relate to the product. Channel management calls for selecting particular middlemen and motivating them with a cost-effective trade relations mix.
The aim is to build a “partnership” feeling and Joint distribution programming. Individual channel members must be periodically evaluated against heir own past sales and other channel members’ sales. Channel modification must be performed periodically because of the continuously changing marketing environment (Byers, 2009). The company has to evaluate adding or dropping individual middlemen or individual channels and possibly modifying the whole channel system. Various levels of channels are necessary in order for Freshest to succeed.
Remount uses retail, wholesale, franchise, and e-commerce distribution channels to offering its products to the target market. Contracting with retail stores around the world will allow direct access to customers. Remount will sell Freshest through wholesale channels to those contributors who would like them. They can be used and/or donated to homeless shelters, and other charitable organizations. Various advertising strategies would be used for promotions of Freshest. Remount is an established sector in the grooming and beauty industry; therefore, they already have great distribution channels in place.
Freshest would use the existing channels to move their product. There are multiple avenues to differentiate the market and infiltrate Freshest onto the market shelves. Pricing of Freshest will be based on a cost plus pricing strategy to attract the target customers. This strategy will obtain quick sales of Freshest and establish a solid customer base (Accentuate, 2009). Remount will adopt and maintain the strategy to use major retail stores such as Wall-Mart, C.V., Rite Aid, Walgreen, and other retail stores to such caliber. Remount relies heavily on the retail stores to distribute their products.
There are many advantages associated with retail chain stores. The most significant one is that these stores are already established and have a good customer based and target market already in process. There is a high level of visibility associated with retail stores. Using the market base that retail stores already have, it can draw a very large target market. The sale process in retailing is very shorter and easier. Customers come and get the desired products and the staff assists is necessary and the customer completes the purchase and departs the store. There are also disadvantages of the retail stores.
Some include but are not limited to the process of setting up retail outlets can come at a high cost. There are also other factors that have to be considered such as the cost of stocking and restocking the shelves, purchasing inventory space, and etc. Retail is a much more passionate avenue. Retail is about advertising because you have to wait and allow business/customers; you have to patiently wait for them to come to you. Sales are depending on how well you advertise to your customers. Lastly, it is not flexible to some changes that may take place in the market.
Some examples could include that a city might go into recession or economic decline. The parking spaces may become over run and make it harder for customers to have patience and they may decide to go to another store. These disadvantages can lead to your retail stores becoming unavailable to customers and your product failing in the market. Hen the product is running low. The buying process goes on in the mind of the consumer and certain response is produced. Marketing incentives consists of four AS: product, price, place, and promotion. There are other incentives such as economical, technological, political, and cultural.
All these inputs enter the buyer’s conscious and turn into responses product choice, brand choice, dealer choice, purchase timing, purchase amount. Once a product reaches a high level of demand, the producer gains the power to dictate how the product is marketed by its channel players. The downstream channel players have to trust that the producer will deal tit them equitably (Byers, 2009). The most appropriate sporting event would be a football game, preferably the Super Bowl. This is a huge sporting event to invest into. The Super Bowl is the most popular event.
There are fans who watch the Super Bowl that are not football fanatics. Although this is a much publicized event, the players who are chosen to endorse Freshest, will give a statement at the end pertaining to the freshness and effectiveness of the product. This will allow the target market to see the effectiveness of the product from a reliable source that will be broadcasted live. The main objective of this particular project will be to allow the skeptics to see firsthand of the results of Freshest. More than hygiene products can be made from Remount.
This success will allow the confidence and familiarity to branch into other markets. A few products that can National Football League gear. This could form an unbreakable alliance with the league and Remount. This could guarantee success for both parties. Remount would have permanent representation. We collaborate with clients to implement innovative consulting and outsourcing solutions that align operating models to purport business strategies, optimize global operations, enable profitable product launches, and enhance the skills and capabilities of the supply chain workforce (Accentuate, 2009).