New Products Launching
Generation: Bangladesh having monsoon weather most of the time our climate Is hot and burning. So the use of lotion In that climate Is quite Irrelevant. In winter the skin looses the smoothness thus It Is mandatory to use body lotion.
But if we try It In summer then it will be a disaster because of sunburn the skin will become dark and shady. But it is necessary to keep the moisture of body in summer also but due to sunburn we can’t do it. Togged rid of this problem, Advanced Chemicals Limited (ACE) introduces the body cooling lotion will moisture the body and also keep the skin safe room sunburn.
Body cooling lotion uses menthol which keeps the whole body cool and gives energy to the working people to work under heat. Besides that, who are beauty conscious can get the fresh look and moisture skin by using this body cooling lotion. And the most Important thing body cooling lotion also deals with physical side like by using this lotion people can get rid from the problem of sweating dehydration, Itching, and allergy. 3. Core Values The human core or internal body temperature is normally maintained to quite close tolerances regardless of weather, clothing, bathing, or cosmetics on the skin .
Body lolling lotion temporarily affects the temperature of the skin, especially the outermost layer of epidermis. In general, this lotion will balance the temperature by acting as a blanket and possibly by blocking perspiration, which cools the skin. Under conditions of sickness or injury, there may be a malfunction of the body’s temperature control system. Like other lotions body cooling lotion is not only responsible for body moisture but also has a twist of menthol which will create a cool refreshing feeling all day long which secure them from sweating and dehydration and Instantly refreshes skin, leaving It feeling fresh and clean.
Sun blocks never provide superior protection from the sun. Because we are always reluctant to use lotion in summer because using lotion can dark our skin so body cooling lotion act as a crucial part in summer . People need to feel fresh and calm in this weather. For this reason a perfect cooling body lotion is needed for both man and woman. Besides that body cooling lotion is waterproof, sweat proof and water resistant. The other core values are no harmful chemicals, no allergy, no side effects, and superior quality. 4.
Situation Analysis l) Market situation: ACE Is one of the leading antiseptic and personal care product manufacturing many in Bangladesh. As Sac’s products are perceived very positively by customers, is body lotion. In the present market, Square does not have any body cooling lotion. Square only have “cool” body spray which will keep the body cold with the distinctive and masculine fragrance. Moreover, cool is segmented only for male users. So, there will be huge market for female body cooling lotion. On the other side, another competitor Milliner is doing monopolistic and exclusive business in the body lotion market.
Because mostly available body lotion manufactured by Milliner “Baseline”, Dove” and “Fair and Lovely-body lotion” in the local market. It has been identified that, few years back ACE has been launched soap under both of the segment which are health soap and beauty soap. But they were unable to capture the maximum market share than other companies in both of the segment. The reason was that, they were incapable to compete with the dominant brand Lug under beauty soap category and with Delete and Lifebuoy under health soap category. Furthermore, they were incapable because of their inconsistency in distribution and lack of product uniqueness.
That is why, the company has come up with a new idea and they want to munch a new kind of body cooling lotion which will contain both antiseptic quality and beauty care quality. It) Demographic: Consumer needs and wants change with age. Although every class of people are concerned about their skin but young people are more concerned about their skin and beauty. So sometimes it’s very crucial for them to use a comfortable product which can protect their skin, increase moisture, and protect sunburn. Body cooling lotion is the perfect solution for them.
Dividing a market in different groups based on sex, has long been common for many products like cosmetics. According to gender it s more important to use separate lotion. Body cooling lotion is not same for the male and female. So according to gender body cooling lotion should be used. Another important factor under demographic is age. Product can also differ according to age. A baby cannot use the same lotion which a young and adult people use. So body cooling lotion can also differ according to age. Another factor is personality and life cycle. According to life cycle body cooling lotion is used for those people who are working class.
All day they are staying in outside and to feel fresh with addition skin moisture they need to use the body cooling lotion. Another thing is personality. Classy people always skin conscious, body conscious and they want to see themselves in fresh look. So body cooling lotion is highly acceptable for them. Ill) Geographic: The elements of defining the relevant geographic market include the nature and characteristics of the concerned products, the existence of entry barriers, consumer preferences, and differences among the market shares of undertakings in the neighboring geographic areas.
A company’s product can extend their name based on customer preferences. If the customer accepts the body cooling lotion, then they can expand their market worldwide. Under geographical segment the ingredient of the product should be safe, customer should highly prefer body cooling lotion and as a result the exit barrier will be low. ‘v) Behavior factors: social factors, personal factors and psychological factors. Cultural factors are coming from the different components related to culture or cultural environment from which the consumer belongs. According to culture body cooling lotion can be acceptable.
White collar people who spend their majority of time in work can have the problem of sweating, dehydration, for that reason body cooling lotion is mandatory. From young to adult, male and female every class of people can use body cooling lotion. And now a days women are also participating to work in outside, so according to the scenario the majority portion of people are working in outside by facing sunburn, sweating problem. Thus body cooling lotion can act as a prominent part. Social factors are among the factors influencing consumer behavior significantly.
They fall into three categories: reference groups, family and social roles and status. More generally, reference groups are defined as those that provide to the individual some points of comparison more or less direct about his behavior, lifestyle, desires or habits. If the consumer show positive behavior, interested to use the body cooling lotion and after using they are use to with it then it is highly acceptable. The family is maybe the most influencing factor for an individual. It forms an environment of colonization in which an individual will evolve, shape his personality, and acquire values.
If the family persons are interested to use this lotion then it is highly acceptable. The position of an individual within his family, his work, his country club, his group of friends, etc. All this can be defined in terms of role and social status. After family friends are interested to use it then it can extend their market. Decisions and buying behavior are obviously also influenced by the characteristics of each consumer. A consumer does not buy the same products or services at 20 or 70 years. His lifestyle, values, environment, activities, hobbies and consumer habits evolve throughout his life.
So according to consider those requirements it is a challenge for the body cooling lotion whether it is accepted or not. The purchasing power of an individual will have, of course, a decisive influence on his behavior and archiving decisions based on his income and his capital. As body cooling lotion is affordable so every class of people can buy this product. Motivation and perception are most important. If people hear positive word from their friends and family about the lotion then they will highly motivated and perceive in a good way.
Then after using the product if they get the positive result then their belief and attitude will be positive and they will buy more which will increase the profitability of the product. 5. Product Offering: In order to establish and run a successful business the company need to properly fine what it is that are offering to the customers. Whether the company offer a product, a service or both, it is imperative to proper define what it is the company do in order to reach the right target audience at the right price.
Body cooling lotion offers the customer fresh feeling; get rid from sweating and dehydration, instant moisturizer effect, assures smooth and silky soft skin, making the skin look younger, brighter, soft and fresh, sunscreen and ultraviolet rays protection, relieve pain & fatigue the body, to order, remove winds and slimming the body benefits, relieve says without affecting balance of skin, protects collagen tissue and also prevents the occurrence of free radicals and resulting old skin view, availability in different colors to suit every skin tone suitability for all types of skin delicate fragrance smooth texture softens skin naturally ideal for : treating dry skin making a base before applying make-up removing makeup effectively treating sunburns. This lotion penetrates deep into the skin and restores the moisture content and the menthol that are using in the lotion feel the consumer cool in outside also which reduce the warm which reduces inching and allergy. Competitor Analysis: Peoples are getting more concern with their skin, beauty and comfort day by day. Now, everyone wants to keep themselves organized and beautiful from their affordability. Hence, with the increasing demand many companies are there to serve the needs in a good manner to satisfy or hold customers. So, when it comes to beauty products there is not only one competitor. There is no product in the market which serves similar values to the customers. The constant growth in the temperature and the intolerable heat in the summer will make this product a buy-buy one. It will outperform, out maneuver and outcast competitors from similar sector.
The product will keep its long lasting brand equity and through perpetual innovation it will hold it;s success. Primarily the target market is the urban areas of Bangladesh but eventually it will become a global brand. The target of the brand would be value innovation. Though we have different features but for same product line our Many competitors are there in lotion industry for our ACE Body Cooling Lotion, they are: Square Toiletries Limited: Square Toiletries is one of the largest companies in Toiletries Industry of Bangladesh. They got a good amount of share in this industry. Though, it does not have any body cooling lotion but they have already touched the concept by introducing Cool body spray and it also have a winter based body lotion.
Cool Body Spray: Square only have “cool” body spray which will keep the body cool with the distinctive and masculine fragrance. Moreover, cool is segmented only for male users. So, there will be huge market for female body cooling lotion. Besides that, it does not have any moisturizing features with itself. So, we can have both male and female potentials for our Cooling Body Lotion. Cool Body spray has deodorant features that is already exist in our Cooling Body Lotion. So, in many cases we are ahead enough to compete with Square Cool Body Spray. Merit Revive Moisturizing Lotion: Merit Revive Moisturizing Lotion is especially suited for winter months when skin starts wilting due to lack of moisture.
As our market segment is different so it will not be a threat for us. Milliner Bangladesh: We must agree that Milliner is doing monopolistic and exclusive business in the body lotion market. Because mostly available body lotion manufactured by Milliner “Baseline”, “Dove” and “Fair and Lovely-body lotion” in the local market. Baseline Body Lotion: has gained the significant market share in lotion industry. It has several kinds of lotion to meet customer demand. Baseline Cocoa Radiant Baseline All Moisturizing Gel Baseline Essential Healing Lotion Among them Baseline All Moisturizing Gel is designed for Summer and it gives cooling and relief after sunburn. It is a great competitor for us.
Fair & lovely Body promises to lighten dark skin and also qualified other features of a lotion. ACE Body Cooling Lotion will not lighten the dark skin as it is not fairness lotion. In summer cost of the people look for some sort of cool environment and comfortable feeling. So, our product will serve their purpose to good extend. Dove is currently offering three kind of body lotion. Essential Nourishment Go Fresh Nourishment Indulgent Nourishment Dove Body Lotion: Dove brought a solution that keeps skin refreshed and nourished all day. It leaves skin thoroughly nourished and revalidated from morning to night and also leaves skin extra soft, extra smooth and extra beautiful.
Among these three Go Fresh Nourishment is especially for Summer and it is a competition for us. However, s initially our target is rural people and Dove Go Fresh Nourishment is not that much available in rural area so it is a good point for us. Besides that, with nourishing and moisturizing we also provide the cooling feature. 7. SOOT Analysts: A SOOT analysis is a method used to evaluate the strengths, weaknesses, opportunities, and threats involved in a business or project. A SOOT analysis of the business environment can be performed by organizing the environmental factors as follows: The firm’s internal attributes can be classed as strengths and weakness. The external environment presents opportunities and threats.
Strengths: Strong brand recognition and high market share. Unique cooling features that is highly demanded among customers. Strong source of collecting raw materials. Have their own superstore for placing the body cooling lotion in the different outlets of SWAP’S. Competitive price. Product for both male and female users. Weakness: It is a new product in the market, so people will feel hesitated to use it. The rate of acceptance will be less. There will be low sales at the beginning with negative profits. The R&D department has to be strong enough to challenge the existing competitors. Opportunity: Participation within steadily growing industry.
Ability to decrease the fixed costs as a percentage of an individual sale as volume increase. Approaching rural market Threats: Direct competition in the body lotion market from other brands Convince rural customer is a bit tough compare to urban customer 8. Marketing Objectives: Marketing objectives is what we want to achieve through our marketing activities. Different businesses establish different marketing objectives depending on their our Body Cooling Lotion we have found out the following objectives- Marketing Objectives: 1. Achieve 70% product awareness among the target audience within the first six of operation. 2. Maintain a gross margin of 35% each month. 3. Steadily increase market share every quarter. 4.
Develop brand awareness and acceptance, quantifies by a decrease in customer acquisition costs. Financial Objectives: 1. Increase the profit margin by 0. 5% a quarter. 2. Attain constant annual growth of revenue in each year of operation. 3. Develop efficiencies in the delivery of the service through advanced training and workflow analysis. 9. Neurotransmitters The single objective is to position cooling Lotion as the premier source for sweat free LOL and moisturizer body. The marketing strategy will seek to first develop brand equity, increase customer awareness and build the customer base, establish connections with target markets and work towards building customer loyalty and referrals. Mission Sac’s cooling lotion has a mission to create high quality skin care products satisfying needs for their target consumers in summer and to be the leading skin care product distributor and manufacturer in cosmetic industry for summer. 0 Corporate values The brand determined to continue being creative and innovative, to aim for product excellence to meet the demanding standards of quality products and safety at all the times. Customer focus is to understand, listening and giving people what they need and serve the beauty and well-being of our consumers in all cultures throughout the world. 0 Brand promise The brand promises to protect the consumer’s skin from the harmful effects of the sun light. It also promises to make you feel cool during the hot summer days. It will take care of your skin and make you feel free to go outside even in the hot days.
The brand also promises to give your body a soothing fragrance. 0 Blue Ocean Strategy The product will create a completely new category where the body lotion will make the user feel cool, refreshed, protected from OUR rays and the sun, and will make the user smell better. The product will add value to the customer because s/he can enjoy the utilities of body lotion, deodorant, sun protection cream and talcum powder in a single product. The cost of consumption will be less and customers will enjoy a quality product at value pricing. This novelty product will create a wow factor. Its SSP 40 will protect the skin from UP rays and other harmful effects of the scorching sunlight.
It will control the melanin which would refrain the person from getting dark skin (skin burning). There will be a range of options from which the consumer can choose the desired fragrance lotion. The presence of menthol will create a cool and refreshing feeling but the all the product will not be of menthol flavored. The lotion will be dermatological beneficial for the user as well. It will protect the skin from harmful dusts and pollutions. Departure will utilize the four action framework it the following way. 0 The Competitive Edge There are no products in the market which serves similar values to the customers. The constant growth in temperature and the intolerable heat in the summer will make this product a buy-buy one.
It will outperform, out maneuver and outcast competitors from similar sector. The product will create long lasting brand equity and through perpetual innovation it will grow as a successful brand. Primarily the target market is the urban areas of Bangladesh but eventually it will become a global brand. The target of the brand would be value innovation. Figure depicting the value innovation is given- Figure: Depicting the value innovation of product 0 Target markets Primary market for the product is middle to upper class working and non-working adult male and female living especially in Dacha. The customers are expected to be that group of people who are concerned about their skin care, outlooks and appearances.
Our secondary target consumers are middle to upper class adult male and female living outside of Dacha. 0 HSRP (holistic selling proposition) proposition) we will follow the Holistic Selling Proposition or commonly known as the HSRP. Under this selling proposition all the internal and external factors will be taken under consideration for the positioning, pricing, promoting and placing. The main idea of doing such is to create a AD (5 dimensional) Brand or the Sonogram to have the clear idea about the brand. The dimensions are the sensory stimuli of human being. The AD model for this specific products as follows: Figure: AD Model of a new product The diagram shows that the smell is the most important sensory dimension of the lotion.
The touch or sensation feeling is nest to it. The sight or appearance of the lotion is also very important. Taste and sound is irrelevant in case of body lotion. Marketing mix Product: ACE is planning to launch their body cooling lotion for young consumers of Bangladesh between the age of 15 to 30, to tackle the skin problems and help to feel fresh and dehydrated during day time. Price: The launch price for the product will be ranging from the competitors pricing strategies. The price should not be higher or lower than the other competitor’s products. Considering the production, advertising and other related variable and fixed cost ACE will set an affordable price to the customers.
Place- Our Brand initially plans to have products displayed at various departmental stores, beauty salons, super malls and retailer shops inside and outside of Dacha. It ill also to display at leading pharmacies. As these outlets and location are in ideal spots which will help target potential customers for skin care product. Promotion- We are planning to communicate with our target customers initially through grand launching program with the help of a PR firm so that we get the best attention of all kind of media. After the launching event, we will go for 360 degree media communication with the help of print media, broadcast media, outdoor media, interactive media (internet).
We are going to advertise in those national Bangle and Daily newspapers which have high circulations. For magazine ad, we will choose local fashion and beauty magazine. We will advertise in broadcast media with the association of beauty and lifestyles shows. There will be billboards, banners, x- promotional campaign. We will use internet pop-ups as well. Advertising Exhibitions Press / Magazines Internet Pop-ups Beauty Shows Hoardings / Signboards Advertisements in local radios and local channels Advertisements in local newspapers and papers in various 0 Markets Advertisements in local fashion and beauty magazines Out-door advertising using posters, billboards, neon signs at beauty spas, bridge manners, lamp posts Internet pop-ups etc.
Public Relation 0 Sponsoring beauty shows 0 Free make over 0 Target publications 0 Offering free makeovers at beauty shows or outlets 0 At least one success story quarterly in a local beauty magazine to attract the market image and informing readers about new launches if any. Direct Mail & SMS 0 SMS messages 0 Develop mailing list with help of Universities and Colleges 0 SMS messages to be sent to all potential customers with the help of telephone operators. 0 A new attractive brochure should be designed to be mailed to target eligible clients. Sales promotion Special pricing at the time of launch 0 Brochure to be displayed at various Spa’s and saloons 0 Attractive prices at the time of launch to attract target customers. 3% discount on makeover at saloons tied up Product Design: For Male Consumers Cycle: For Female Consumers Product Life Sac’s new product cooling body lotion SPLASH will in the introduction stage of product life cycle. It takes time for a new product to survive in the market place competing with other products of competitors. Being in the introduction stage of product life cycle ACE must need to follow the given strategies: a. Inform potential customers bout the product b. Introduce product trials c. Secure distribution in retail outlets Distribution: The new product body cooling lotion can be distributed to the designated dealers of pharmacies and beauty saloon in big cities like Dacha, Chitchatting, Sylphs etc. 14.
Integrated Marketing Communication Strategy Integrated Marketing Communication (MIMIC) is the application consistent brand messaging across both traditional Andean-traditional marketing channels and using differentiation’s methods to reinforce each other. The deregulated be to successfully accomplish MIMIC to create thematic brand equity. The core concept of MIMIC is to cerebrated equity through achieving ROI. The first step is to create core value and then communicate the value throughway’s stories, which the customers have never seen forerunner heard before. Theater three tools of communication. 1. Above the line (TTL) 2. Below the line (BTL) 3.
New format The story around the brand promise For the brand communication a unique story would be made portraying the middle class and upper middle class of the society. For a better connection real life real people will be interviewed across the urban areas. Their perils in the hot summer ND how they suffer will be the basis of our story. We will make the electronic media advertises with these typical citizen. The brand ambassadors of our brand will be all the hard working people out there. We will of course relate their experience with the offerings of our Brand. We will show how the hot summer dilemmas of the people will be solved if they use our brand.