14. Porter’s Five Forces Model Threat of Substitute products low Rivalry among existing Competitors High Bargaining power of Buyers low Bargaining power of Suppliers low Threat of New entrants low
15. Why is a marketing plan needed? Technology 21st morals Decreasing industrial growth
22. Product - new packaging design - emphasis on quality
23. Product Development Strategies Old Product New Product Market Penetration Product Development Old Market Market Development Product Diversification New Market
35. Conclusion “If women can experience the joy of giving birth, surely they can also share the joys of purchasing a condom.” – Michael Cheung
Notes de l'éditeur
M
M
M
M
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C
In line with the rule of three, there are three brands that dominate over 90% of the market share for condoms in Canada and the US.These are: Trojan, Durex, and LifeStyles. Trojan is the top by far in America with $47.2 million in sales last year. However, Durex is the top condom world wide.
M
C
J
Secondly, we plan to spend 20% of our advertising budget on female-targeted ads. The current advertising budget is about $5 million in Canada and $19 million in the US, so 20% of that would be about $5 million to spend overall.
C - We have a major share of the existing market and would like to expand so if we can get a chokehold on the new market it will bode well for the company
C - We have a major share of the existing market and would like to expand so if we can get a chokehold on the new market it will bode well for the company
It’s a new product because… It’s a new market because….
In order to target women aged 16 to 25 in the next 12 months, we plan on creating a new advertising campaign. It will be based on promoting the quality and safety of Trojan condoms to females, and to encourage females to step up and make the choice in buying condoms instead of always leaving it to the males.
J
M
Difficult to establish market share
As for distribution, we will have place Her Selection close to the regular condoms in drug stores and other usual channels.
H
Our monitors and controls are all very standardWe will use surveys and sales as our methods of monitoringThe main problem we could face include:The product not being received wellThe advertising channels being unproductiveThe campaign not delivering the right messageCannibalization of the male marketThe ways we would solve these problems areChange how the product is received buy lowering the price to promote valueIf a channel is unproductive we can revert or send more money to a channel that is or was productiveIf the campaign is not being received very well then we can re-haul everything if necessary and try a new perspectiveIf the loss in the male market outweighs the gain from the female market then we will look whether it’s worth it to continue in the female market
M
So in conclusion, we urge you to implement our plan,
