Hair care product from pantene
1. 0Executive Summary:
Pantene shampoo is a product from Pantene for all kind of infected and damage hairs. The company has registered its head office at 34 sectors, Noida. Pantene introduced the shampoo satisfied the need of those persons who really care for their hairs with the different segmentation and it will definitely increase the circle of their segmentation as per the customer need. Pantene serves men, women, and children because Pantene knows the customers need and customer satisfaction. Pantene is able to serve the entire family with its different products as per the customers need. While there are many “ shampoo products” like Lux, Head & shoulder, dove and many more but Pantene will excel due to its attention to detail regarding customer needs and attention. Through unheralded customer satisfaction, Pantene will slowly but surely gain market share as it serves the entire family, creating long-term relationships.
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2. 0 Situation Analysis
Pantene is in its first year of business as a start-up company. Pantene recognizes the fact that a comprehensive, strategic marketing plan is required to ensure profitability and success. Pantene offers a wide range of hair shampoo. The market need is for a one-stop, convenient, hair shampoo that is skilled and reasonably priced, serving the entire family.
. 1 Market Summary
Pantene shampoo possesses good information about the market and knows a great deal about the common attributes of its most prized customers. Pantene will leverage this information to understand who is served, their specific needs, and how Pantene can better serve them.
2. 1. 1Market Demographics
The profile for Pantene consists of the following geographic, demographic, and behavior factors:
- The immediate geographic target is the city of Shaker Hts. and the surrounding Communities with a total population of 60%.
- A 20 mile geographic radius is in need of the offered services.
- The total targeted population is almost 60% of total population.
- Male, female, and children.
- Ages 3-55.
- The women are individuals who are concerned about getting quality hair shampoo, but are unwilling to pay the exorbitant charges associated with women-only hair shampoo.
- The men are concerned about getting a reasonably priced, convenient, hair shampoo.
- The children do not have any major products for their hairs.
- Have an individual income of at least $30, 000.
- Are always on the lookout for convenience factors in regards to service providers.
- Attempt to get all of the family’s needs serviced at the same time if possible.
2. 1. 2 Market Needs
Pantene is providing families with a one-stop option for providing a wide range of shampoo options. Pantene seeks to provide the following benefits that are important to its customers:
Pantene can serve the entire family with no appointment necessary.
- Customer Service:
Serving the customer with superior attention is what the employees are trained to provide.
- Competitive Pricing:
Pantene offers pricing that is a bit more than a traditional formula but far less than a dedicated women’s hair shampoo.
2. 1. 3 Market Trends
The market trend for the hair shampoo industry is one of consolidation. Consolidation can be seen with the high-end hair shampoo as well as the full-service, full-family companies such as Best shampoo. Over the last five years there has been an expansion of upscale chain of shampoo. Additionally, this trend has occurred with the full-service, family hair shampoo. The reason for this trend is similar to other industries that are consolidating; cost saving measures. Pantene is not participating in this trend of aligning itself with a chain. Pantene believes that it has better insight to its local market and would rather apply this specialized insight to its market instead of adopting the procedures of a national chain.
2. 1. 4 Market Growth
For the last seven years the shampoo industry has grown steadily at 5% a year. The industry is generally unaffected by economic upturns or downturns. While in upturns, women are more likely to purchase extra services such as hair shampoos of different hairs, although generally the consumption pattern is unchanged. This is somewhat intuitive as most people need and get a selected shampoo based on their hairs, independent of the economic environment that they are in.
2. 2 SWOT Analysis
The following SWOT analysis captures the key strengths and weaknesses within the company, and describes the opportunities and threats facing Pantene.
2. 2. 1 Strengths
- Excellent retail space in a well-traveled mall.
- Well-trained employees with good hair cutting skills with a wide style repertoire, and customer-focused business practices.
- A wide range of services offered.
- Competitive prices.
2. 2. 2 Weaknesses
- As a new entrant to the market, Pantene lacks brand equity that many of its competitors have earned over years of service.
- The struggle to appear continually on the edge in terms of fashion and style.
- Large costs associated with a start-up company.
2. 2. 3 Opportunities
- A steady growing market that is traditionally unaffected by the economic environment.
- The ability to decrease marginal fixed costs as the customer base grows.
- Increasing sales opportunities as more people from an individual family frequently used Pantene.
2. 2. 4 Threats
- Competition from already established chains.
- A change in traffic patterns as they relate to the other product as compared to the Pantene.
2. 3 Competition and Buying Patterns
Pantene shampoo’ competitors include:
They rarely serve appointments; it is generally a walk-in service. While shampoo manufacturer are usually willing to provide whichever type of shampoo which is liked by the customers, they are generally providing a simple shampoo which is used by the customers to wash the hairs for only cleaning the dirt of the hairs, typically on the conservative side. The advantages are an inexpensive service that is easy to use. Their disadvantages are often conservative varieties of shampoo.
3. Local brand of shampoo:
These brands typically focus on a specific need of the customers and do not serve a wide group of customers. The buying patterns of men and women are quite different. Typically men are more price or convenience sensitive. Men typically care less about the task of getting their hair shampoo. For them whatever is easiest works best? Women are more concerned with hair shampoo and tend to bond more with their stylists. Once a stylist has earned their trust they are more willing to blindly apply the shampoo to their hairs.
2. 4 Services
Pantene shampoo provides hair shampoo for the entire family. This includes shampoo for men and women, for dry and light hairs. Shampoos will be offered for all adult services. Shampoo is designed as per the different hairs. Pantene will emphasize a customer-centric service where the customer’s needs are always the priority. Pantene also sell hair care products that are forecasted to account for 15% of sales.
2. 5 Keys to Success
Keys to success include:
- Customer attention.
2. 6 Critical Issues
Pantene is still in the speculative stages as a start-up company. Its critical issues are to continue to take a modest fiscal approach; expand at a reasonable rate, not for the sake of expansion in itself, but because it makes prudent fiscal sense to.
3. 0 Marketing Strategy
Pantene will have a somewhat limited marketing budget. The main reason for this will be because some of the money that would otherwise be spent on marketing efforts will be used for rent. By choosing a well-traveled, popular mall to locate Pantene in, it will receive a lot of walk through traffic. The cost of having this location takes the form of higher than normal rent. Part of the high cost of rent is just an expense if you want to locate a shop in a popular commercial property. Some of the money also goes to mall association dues. The money for the mall dues goes to marketing activities that are designed to increase visibility and traffic for the mall as a whole.
Advertisements will be done through printed as well as media means. The media serves the entire Cleveland metropolitan area. The printed and media means both are done in rural areas because now the rural areas are converting into advance state drastically. Therefore it is a good way to advertise the product and to increase the visibility of the product. We can also go through the news papers for the advertising our product.
In-store and Store Front Displays:
These displays will be visible to the large walkthrough traffic base. It will definitely prove an extraordinary way to promote the product.
3. 1 Mission
Pantene shampoo’ mission is to provide reasonably priced, convenient hair shampoo. We mainly concern to attract and maintain our customers. When we adhere to this maximum, everything else will fall into place. Our services will exceed the expectations of our customers.
3. 2 Marketing Objectives
- Increase repeat customers by 7% per quarter.
- Decrease customer acquisition costs by 8% per year.
- Maintain positive, steady growth each month.
3. 3 Financial Objectives
- Increase the amount of retail products sold by 10% per year.
- Grow the profit margin by 3% per year.
- Profitability by year one.
3. 4 Target Marketing
Pantene shampoo will target three different market segments:
Men will typically make up 70%-75% of the clientele. The reason for this is that men have shorter hair requiring a faster, simpler job.
- Women Who Cannot Afford an Upscale Salon:
Women tend to favor a female specific upscale shampoo if they can afford it. There is not often a difference in quality of an upscale salon relative to a family hair shampoo other than a upscale shampoo will tend to pamper you more, only accepts appointments. Someone who is fiscally responsible as opposed to someone who likes opulence will favor a family shampoo.
- Young Mothers with Children:
Pantene shampoo will target each of the three groups separately. The males will be targeted by offering a best product, convenient, and good service of shampoo. Because men have shorter hair, they tend to require shampoo more often. Pantene shampoo will cater to males with costly product because they often used the shampoo. Generally females prefer the allure of upscale shampoo; however, not everyone can afford this luxury.
For this reason Pantene will provide the same quality hair shampoo, just without the expensive price. Pantene will target these customers by emphasizing the sophisticated hairs by using Pantene shampoo.
3. 5 Positioning
Pantene will position itself as a convenient, full service, family hair shampoo.
Pantene will offer one-stop service offerings. Pantene will leverage its competitive edge to achieve its desired positioning:
- Pantene’ competitive edge is based on superior customer service.
Pantene recognizes that the hair shampoo market is crowded so
It is difficult to stand out. Pantene will be able to by providing superior customer attention. This is particularly important for Pantene to Operates in because margins are lower and the goal of a quick shampoo market to crank through a large number of people each day.
- Pantene will invest time and money into training to ensure that clients receive the best experience possible making it is easier to turn them into a long-term customer. By providing superior customer service, Pantene will be able to effectively compete against and outlast larger chains and independent competitor.
3. 6 Strategy Pyramids
The single objective is to position Pantene as the premier, full service, family shampoo in the Shaker Heights area. The marketing strategy will seek to first create customer awareness regarding the product offered, then develop the customer base, and finally work toward building customer loyalty and referrals.
The message that Pantene will seek to communicate is that the entire family can be served quickly, professionally, with superior product at reasonable rates. The message will be communicated through various methods. The first is in-store and storefront displays. This will be a convenient method to attract people that walk past general store front. The other method of communication is advertisements in two local newspapers. These newspapers are widely read and will reach a large base of people.
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3. 7 Marketing Mix
Pantene’s marketing mix is comprised of the following approaches to pricing, distribution, advertising and promotion, and customer service.
Pantene pricing scheme will be based on a competitive pricing model with other similar product providers.
All of Pantene products will be dispensed from its centrally located store.
- Advertising and Promotion:
Locating the store in a high traffic mall will significantly increase visibility. A targeted advertising campaign will also communicate Pantene desired messages.
- Customer Service:
All of Pantene employees have been trained in exceptional customer service. All employees have discretion to remedy any problems encountered on their own without having to first receive permission from a supervisor.
3. 8 Marketing Research
During the initial phases of the marketing plan construction, several focus groups were held to gain insight into the buying patterns of prospective customers. The focus groups drew a wide range of people from women to men to mothers. The participants were asked what type of service they typically use and why. They were also asked how their current product could be improved and what it would take to get them to switch to a new product. They were given a bit of information regarding Pantene offerings and they evaluated this. The focus groups provided invaluable information and feedback. While some of the information gathered was already known to Pantene, other information were things that made perfect sense but had not been thought of.
4. 0 Financials, Budgets, and Forecasts
This section will offer a financial overview of Pantene as it relates to the marketing activities. Pantene will address break-even analysis, sales forecasts, expense forecasts, and how they link to the marketing strategy.
4. 1 Break-even Analysis
The break-even analysis indicates that $32, 340 will be required in monthly revenue to reach the break-even point.
4. 2 Sales Forecast
The first month will be used to set up the store and hire and train the employees. The unit will be officially open the second month. Sales for month two through will four will be somewhat slow, as Pantene will be building up a customer base. From month four on sales will grow steadily.
4. 3 Expense Forecast
Marketing expenses are to be budgeted so that they are high during the first quarter in order to raise visibility for the start-up organization. They will then settle down a bit until the winter months. When they will ramp up as the winter months are a time when there is an increase in spending on hair shampoo in preparation for the winter holidays.
5. 0 Controls
The purpose of Pantene’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.
- Repeat business.
- Customer satisfaction.
5. 1 Implementation Milestones
The following milestones identify key marketing programs. It is important to accomplish each one on time, and on budget.
5. 3 Contingency Planning
Difficulties and Risks
- Problems generating enough sales throughout the day.
- Usually a slow first and second quarter that could have a significant effect on cash flow.
- Road construction near the mall which would have a significant effect on customer traffic.
Worst Case Risks May Include
- Determining that the business cannot support itself on an ongoing basis.
- Having to liquidate equipment to cover liabilities.