Marketing Audit Approach Assignment

Marketing Audit Approach Assignment Words: 2040

Brand is focused upon providing comfort, Sino correction, easy handling, customer compliance and lifestyles. According to the studies of current market trends, the contact lens sector has seen a growth of 145% over the last five years with Johnson & Johnson holding the highest world market share of 48%. Even during the world financial crisis, the year 2008 financial results show that the Visitation business has rose by 13%. The technique of SOOT analysis has been used to identify the key points on which the company can direct its marketing efforts.

The marketing strategy of Visitation is based on the Johnson & Johnson Credo. Their marketing objectives focus on the reduce wise key target segments. The brand is positioned in a way that different products cater to meet the various needs of the market. A market mix analysis defines the ACHIEVE product and the pricing strategy used by Visitation. Visitation works to keep their price increases in line with the health care products Consumer price index. It promotes its products through various media and distribution channels.

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Lastly, recommendations are provided within the guidelines of the market in order to benefit the organization for maximum customer acquisition. Introduction of the Organization About Johnson and Johnson Johnson & Johnson is the world’s most comprehensive and broadly based manufacturer of health care products, as well as a provider of related services, for the consumer, pharmaceutical, and medical devices and diagnostics markets. Headquartered in New Brunswick, NJ, it is a family of more than 250 operating companies employing approximately 119,200 men and women in 57 countries.

It is organized on the principles of decentralized management, diversification in health care, long term perspectives and shared values across our businesses. Johnson & Johnny’s brands include numerous household names of medications and iris aid supplies. Among its well-known consumer products are the Band-Aid Brand line of bandages, Ethylene medications, Johnny’s baby products, Neutron skin and Marketing Audit Approach By alphabetic About Johnson & Johnson and the environment Their purpose is to improve the health and well-being of people everywhere.

They understand that environmental degradation threatens human health, and thereby take the responsibility to protect the environment. They have established five-year Health Planet goals in the areas of energy use, water use, paper and packaging, waste reduction, product stewardship, biodiversity, and there. In developing these goals, they sought counsel from many stakeholders, including government officials, environmental groups, other companies and academic thought leaders.

They are confident that their Healthy Planet 2010 goals will help safeguard the health of our planet. [pick] Headquartered in Jacksonville, Florida, Visitation is a division of Johnson & Johnson Vision Care A true leader in innovation, Visitation revolutionized the vision correction industry in 1988 with the invention of [email protected] Brand Contact Lenses, the world’s first soft disposable contact lens. Today, [email protected] Brand Soft Disposable Contact Lenses remain the number one brand in the world. The [email protected] Brand is worn by more people globally than any other contact lens.

The [email protected] Brand is truly transforming the world’s vision by providing an outstanding range of contact lens options to meet the vision needs and wants of Just about everyone requiring vision correction. [email protected] Brand Contact Lenses positively change lives by giving people who require vision correction the freedom, comfort and clarity of natural vision. Visitation has built an impressive team by fostering an unyielding dedication to innovative thinking and to maintaining the highest standards in quality. With a workforce of approximately 2,500, Visitation makes [email protected] Brand Contact Lenses for people in over 70 countries worldwide.

The essence of Visitation’s philosophy is perhaps best embodied in the Johnson & Johnson Credo which reflects the values and commitment of the entire organization worldwide Situation Analysis A. Market Summary Market Demographics The demographics for the Contact Lens market are as follows: ; Ages 13-39, with high representation of females which have upscale in income and education. ; The Market needs The company seeks to fulfill the following benefits that are important to its customers: ; Comfort: While purchasing the contact lens, the primary concern for the customer is Comfort.

[email protected] Brand Contact Lenses are very thin and comfortable. Unlike ALASKA, contact lenses are a reversible form of vision correction ; Vision: Customers who have Visual impairment choose contact lenses for vision correction. Studies show that 7 out of 10 people see better than 20/20 when properly fitted with [email protected] contact lenses by an Eye Care Professional. ; Handling: Customers prefer lenses which are easy to handle ; Lifestyle: Customers choose he type of contact lenses according to their lifestyle.

People with active lifestyle prefer Daily disposable contact lenses. Market Trends As per the Annual report on the contact lenses 2008, in Contact Lens Spectrum issued in January 2009, the ophthalmic sector as of whole was up 145 percent over the last five years. This is far ahead of the S&P 500, which is now lagging behind where it was five years ago. Worldwide and U. S. Market share estimates by company are similar with Johnson and Johnson leading at nearly 48 percent, CUBA vision at 18 percent, Supervision at 18 percent and Bausch and Lomb at 12 percent.

Correspondingly, when practitioners were surveyed about their perception of product portfolio innovativeness (1-to-5 scale), Visitation, again led, followed by CUBA, Supervision and B&L. Market Growth The strategy of concentrating its marketing to areas where there are the most profits to be made is also the case in Asia where the Japanese market – which holds the biggest market potential by far – is the country where J&J has greatest domination. A new advertising campaign in Thailand is aiming to increase brand awareness there. For Vision Care its strategy seems to be working even in tough economic times.

Global revenue from its Visitation business rose 13% in 2008 to $2. Ban and through a series of clever acquisitions its parent company should be guarded against patent expires and the credit squeeze B. SOOT Analysts Strengths ; First mover advantage with disposable lenses ; Unique proprietary manufacturing process – “stabilized soft molding” Reliability of manufacturing process to produce large volumes at low cost and at low cost to Eye Care Practitioners ; Strong distribution channels to authorized Eye Care Practitioners ; Clear objective to continue innovation in disposable market

Financial backing of Johnson and Johnson to support new product launch and decentralized structure of Visitation to make corporate decisions ; Surveys and test market results show that consumers perceive I-Day Achieve as too expensive ; Acquisition strategy of new consumers is weak because Eye Care Practitioners rely on “pulling” consumers in for eye exams Opportunities ; Key unmet needs ; Advancing science and technology ; Geographic opportunities ; Global information flow Threats ; Potential Competition from an already established market participant such as Abash & Lomb, Cuba Vision, Cooper Vision etc. Increasing ALASKA (Refractive surgery) Surgery ; Regional threats. For example, there is a threat in Iran as people have started boycotting American Products. C. Competition Visitation’s major competitors within the disposable contact lens market are ; Bausch & Lomb ; CUBA Boston ; Supervision ; Biomedicine D. Product Offering Whatever the Vision’s need is, [email protected] Brand has a contact lens to add comfort, ease and freedom to life.

E. Key to Success The key to Success of Visitation are ; Footprint of Johnson and Johnson ; Innovative Products to meet the needs of the people. Marketing Strategy Mission – without the hassle of At Johnson & Johnson there is no mission statement. Instead it has a Credo which has guided their actions in fulfilling their responsibilities to their customers, employees, community and stockholders. A copy of the Credo is attached as Appendix 1 . Marketing Objectives ; Maintain positive, strong Growth each Quarter ; Achieve a steady increase in market penetration. They work to grow the product category in order to increase the customer their clientele. ; They believe in the concept of Shorter is Better. They promote Daily disposable lenses because it is healthier, convenient, and has low risks of eye infections. Hence helping them to retain happy customers. Target Markets Primary target group of Visitation are young, female consumers, between the ages of market and narrows its focus on key target segments depending on the type of product. Key target segment for the Achieve Okays is the 25-34 year old, non-astigmatic, female spectacle-wearing patient ; Key target segment for the Achieve 2 contact lenses is female and in the 18-24 year old age group ; Key target segment for Achieve Advance is female in orientation with the 25-34 year old ; Key target segment I-Day Achieve Moist attracts the age spectrum extremes (teenage and 50+) OTOH at rates significantly higher than their respective base penetrations ; Key target segment for 1 day Define is young females and in the 15-30 yr old age group.

Positioning Once target market is analyzed, the next step is to position the offer. Positioning is an attempt to show a product or service in a manner that meets certain desired wants or needs of the target audience. For example, a post-menopausal female daily disposable wearer is probably more interested in the benefits of comfort and moisture as opposed to a teenage daily disposable wearer who is more interested in he ease and convenience of a wear-once-and-throw-away modality.

The goal of positioning is to underscore one or two characteristics that make a product or service stand out in the minds of consumers as the answer to their wants/needs. Brand Positioning of Achieve Contact lenses 1 ;DAY [email protected] MOIST For a moist, fresh contact lens feeling from morning to night.

In the United States, the company works to keep their net price increases for health care products within the Consumer Price Index (ICP). A government measurement, the ICP is calculated by gauging price changes across a wide array of products and weighing these changes against the percentage of income that typical consumers Penn to purchase these products. The result is the “weighted average compound growth rate”. As the cost of raw materials and other expenses continue to rise, the company works to keep the price increases modest and still maintain competitive profit margins by producing the products more efficiently, by reducing operating costs and by improving the productivity.

Promotion: Visitation promotes its products through various ways as below: ; Print Media: It advertises through newspapers, magazines, local optical magazines like Eye Zone. Banners: Banners are put up at Major Streets and Shopping malls. ; Radio: It announces offers and product launch through radio channels ; Johnson and Johnson have established The Vision Care Institute (TOPIC) in various regions including Dublin, AJAX. These institutes provide hands on training to various Eye Care Practitioners, hence promoting its Product range. ; Sales Promotion: There are various seasonal promotions in which various other cosmetic/health care products are bundled free with a sale of Multipart Contact Lenses ; Price discounts/ trade discounts are strictly against the Corporate Policy.

Distribution: ; Visitation supplies its products to the end-users through Distribution channel which includes Wholesalers and Retailers. The manufacturing unit supplies to the regional wholesaler who further supplies to the optical retail outlets. For example in the Middle East, the Sole Distributor of Achieve Contact lens is Waco Trading, part of Yates Group. Waco trading further supplies these contact lenses to the retail Opticians. ; Visitation has launched an “Achieve Direct Delivery and Payment Plan. ” This is more commonly known as get now, pay later. Achieve direct allows patients to spread the financial commitment out over four equal payments, while still receiving the cost deduction you get for purchasing an annual supply.

Achieve is locking in future revenue with this program, which is a great idea to release during this tough The purpose of Visitation’s marketing plan is to serve as a guide for the organization. The following areas will be monitored to gauge performance: ; Revenue: monthly and annual ; Expenses: monthly and annual ; Customer Satisfaction ; New Product development Conclusion & Recommendations I recommend Visitation management the following: ; Visitation should opt for the premium price strategy, launching I-Day Achieve at a Geiger retail price and running short-term price promotions if needed to assess demand. This is the most sensible option in minimizing centralization of other products and maximizing profit. ; Volume discounting is beneficial to Visitation by encouraging quantity order placement.

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