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Marketing Plan Veet Paradise

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Marketing Plan Veet Paradise MARKETING PLAN VEET PARADISE 2/11/2013 I.T. Carlow TABLE OF CONTENTS INTRODUCTION ...........................................................................................................................4 RECKITT BENCKISER PLC .........................................................................................................5 VEET CUSTOMERS .......................................................................................................................6 COMPETITORS .............................................................................................................................7 DIRECT COMPETITORS ..................................................................................................................................... 7 INDIRECT COMPETITORS .................................................................................................................................. 8 COMPANY ......................................................................................................................................9 COLLABORATORS .................................................................................................................... 10 CLIMATE ..................................................................................................................................... 11 POLITICAL ................................................................................................................................................. 11 ECONOMICAL ............................................................................................................................................ 11 SOCIAL/CULTURAL .................................................................................................................................... 11 TECHNOLOGICAL ....................................................................................................................................... 11 ENVIRONMENTAL ..................................................................................................................................... 11 LEGAL ....................................................................................................................................................... 12 SWOT ANALYSIS ....................................................................................................................... 14 STRENGTHS .................................................................................................................................................... 14 Established brand name ............................................................................................................................ 14 Constant Research and Development ........................................................................................................ 14 Strong supply chain ................................................................................................................................... 14 Flexible brand ........................................................................................................................................... 14 WEAKNESSES ................................................................................................................................................. 15 Economic Recession in Europe .................................................................................................................. 15 Product Recalls ......................................................................................................................................... 15 Allergic Reaction ....................................................................................................................................... 15 OPPORTUNITIES ............................................................................................................................................. 16 More investment in Celebrity Endorsements ............................................................................................. 16 Extend their waxing line ............................................................................................................................ 16 THREATS ........................................................................................................................................................ 17 Intense Competition.................................................................................................................................. 17 Private label consumer goods .................................................................................................................... 17 Salon services............................................................................................................................................ 17 TARGET MARKET SURVEY ..................................................................................................... 18 SEGMENTATION ....................................................................................................................... 21 Stage 1: Segmentation ................................................................................................................................... 21 Geographical .................................................................................................................................. 21 Psychographic ................................................................................................................................ 21 Behavioural .................................................................................................................................... 21 Demographaphic ............................................................................................................................ 21 Veet Paradise: Customer Profile .................................................................................................................... 22 TARGETING ................................................................................................................................ 23 POSITIONING ............................................................................................................................. 24 MARKETING MIX – 5P’S .......................................................................................................... 25 Product ..................................................................................................................................................... 25 Place ......................................................................................................................................................... 25 Price ......................................................................................................................................................... 26 Promotion................................................................................................................................................. 26 Packaging....................................................................................................................................................... 26 BIBLIOGRAPHY ......................................................................................................................... 29 INTRODUCTION In our marketing project we will discuss the five C’s (Customers, Company, Collaborators, Competitors and Climate which includes a PESTEL analysis). We will also perform a SWOT analysis and comment on our findings. We will conduct a customer survey for market segmentation and profiles of our future customers and will show the results of that survey. We will examine the 5P’s and where our product is in relation to these. We will also project our future sales from the 5P’s that we have examined. Our team consisted of four members at the beginning of this project but due to a conflict between our members it was decided to reduce the team to just two members. Our product consists of a home use hair removal wax for use by women. Our unique selling point is this product is exceptional in that it numbs the body part being waxed and so reduces pain before, during and after waxing. Our product will contain Lidocaine which is a topical anaesthetic which relieves pain by deadening the nerve endings of the skin. Lidocaine is used for the relief of sunburn, insect bites etc and so we feel that this would be the most effective pain reliever for our product. Lidocaine’s pain relief may last for up to one hour after application on the skin. Our customer survey showed that a number of people do not like waxing as it is too painful and messy and they would rather go to a salon to have their hair removed. Several products that we looked at while researching this product use creams to reduce pain after waxing which is not what our product is achieving. In this way our product is unique by having the pain reliever in the wax so pain is eliminated immediately. We have decided that as an alternative of creating a new product brand our product would be launched by an already existing brand name that is synonymous with hair removal and so decided to use the brand of VEET which is the number one selling brand of hair removal products and is produced by Reckitt Benckiser PLC. Our product is called VEET PARADISE and packaging is coloured…. We would envisage that a celebrity such as Leona Lewis would be the promoter of the female brand for advertising. If sales of the female brand prove
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