Assessment 3 Presentation
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Diploma of Marketing presentation for assessment 3 - 2013. Launch of men skin care product/range.
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Assessment 3 Presentation
- 1. z
- 2. z Tinted Moisturiser Body Wash Exfoliating Body Bar Face Mask Body Moisturiser Anti-aging & Wrinkle Cream Hair Removal Cream Ideas for the natural skin care line:
- 3. z TNT CREAM
- 4. z Men's Tinted Moisturiser TNT Cream is a lightly tinted moisturising lotion intended specially for men. It’s designed to repair and hydrate skin as well as prevent premature aging Protects the skin from harsh environmental elements such as UV rays which can cause long-term skin damage or melanomas The lightweight, non-greasy formula evens out skin tone leaving a smooth, matt finish for natural looking coverage
- 5. z The natural and organic market has risen from $345 million to $465 million since 2005 Consumers are looking for a good quality product that is made from natural ingredients NPD found that at least seven in 10 men are buying facial skincare products for themselves New research has shown that women's products are increasingly being purchased by men Men's Tinted Moisturiser
- 6. z SWOT Analysis - Reputation for being masculine, brand is focused around men - Existing worldwide customer base - Customer satisfaction & experience - Increase in revenue - Widen customer base - Increase market shares - Expand capabilities into new segments - Profitability from current range - Lack of experience with skin care products - Low budget for marketing and advertising - Substitutes & cheaper brands on the market - Increase in duty and taxes - State of economy and recessions - Competition / competitors STRENGTHS OPPORTUNITIES WEAKNESSES THREATS
- 7. z Screening & Evaluation Concept Survey
- 8. z Product Features Natural ingredients, eco-friendly packaging Added vitamins and antioxidants 3 shades, available 100 mL or 30 mL bottle 3 in 1 – Moisturiser, Foundation, Sunscreen Long-Wearing, Water-Resistant Masculine packaging and brand Suitable on all skin types
- 9. z Market Demand The global market for men’s cosmetics is booming. Risen 40% in 5 years despite the global recession in 2008 It is predicted that between 2010 and 2015, the market is expected to grow by more than 21% Asia-Pacific represents almost 45% of the global skin care market Between 2010 and 2015 they estimate a market share $94 Billion in the skin care segment with facial care products leading the market The beauty and personal-care market expected to hit a value of $34 billion in 2013
- 10. *z Profitability Discount offered by manufacturer with larger orders based on quantity SALES / INCOME COST PROFIT MARGIN QTY PRICE PER UNIT TOTAL VALUE COST PER UNIT TOTAL COST (QTY) PROFIT PER UNIT GROSS PROFIT % 1 $ 38.00 $ 38.00 $ 5.00 $ 5.00 $ 33.00 $ 33.00 86.8 % 50 $ 38.00 $ 1,900.00 $ 4.50 $ 225.00 $ 33.50 $ 1,675.00 88.2 % 100 $ 38.00 $ 3,800.00 $ 4.00 $ 400.00 $ 34.00 $ 3,400.00 89.5 % Manufacturing cost is $5 AUD per bottle. Resold at $38 AUD, profit margin is estimated to be over 86% per bottle * (based on current sales figures) The estimated annual profit margin for 2012 – 2013 = $102,000 (89.5%)*
- 11. z Competition Clinique has approx 9% of the global market their products are sold in more than 135 countries and territories Skin care brought Estee-Lauder in $3.5 billion in revenues during 2010 Nivea skincare products grew by almost 20% in 2008 and has 15% of the market share Olay is the market leader in many countries including USA, UK, and China L’Oréal Australia led skin care with an 11% value share in 2011 and has operations in over 130 countries Lab Series Skincare for Men is available in 30 countries and sold in department and specialty stores worldwide
- 12. z Product Prototype The bottle designed to imitate a TNT dynamite stick Masculine look: To stand out bottle, label and packaging has look different than other brands on the market Available in 100 mL or 30 mL bottle (so consumers can trial a smaller quantity) Eco-friendly packaging and 100% recyclable materials Discreet branding as a marketing strategy
- 13. z Test Marketing WEB MARKETING METRICS (KPI’s) Website/Landing Pages # Site traffic revenue # Time online & length of visit # Mobile/Smart phone Visitors # Geographic location # Platforms / Browsers Sales # Purchases # Average order size # Duty tax and Conversion rate # New orders VS returning customer sales # Profit margin/Outlook Surveys/Questionaries # Price/Value for money? # Customer satisfaction # Market demand # Income # Age Social Media # Twitter: Followers & retweet # Facebook: Likes/shares # Clicks and advertising statistics # Mentions/Likes/Pins/+1’s # YouTube The test marketing will target online consumers in Asia-Pacific region Marketing metrics to monitor and measure ‘Key Performance Indicators’ Using the data to refine the product before embarking on a global launch
- 14. z Commercialisation Consumers Market Sampling / Giveaways Target Market: Males 18 – 45 years - Sampling/demonstrations in – Public Markets, shopping centres. - Samples of the new product sent with customer clothing orders. - Trade Shows & Event Marketing Online Direct Marketing & Targeted Promotion Target Market: Males aged 18 – 35 years - Geographic: China, India, South Korea, Japan, UK, USA - Direct communication to the customer - Text messaging, email – Coupons, vouchers, gift cards - Social media - Twitter, blogger / forum sites - Facebook Page and promotions - Website Search Engine Optimization Advertising & Publicity Target Market: Males 25 - 45 - Display ads/banners - DNA, Men’s Health magazines - Catalogue distribution - Outdoor advertising – Posters, flyers - Expand the line into retail outlets. The product will be launched on the website and facebook page Strategic marketing strategies will be applied to commercialise the product
- 15. z Conclusion After analysing the male grooming segment it corroborated skin care is the market leader. Research suggests the market value and demand is increasing at a rapid rate and is fast becoming a social trends in many countries Nowadays men are using more skin care products than ever before. Men are becoming more diligent when it comes to looking after their appearances and prolong signs of premature aging Demographically Asia would be a great platform to launch the brand. The economic conditions are good and high majority of the populations have disposable income. China, South Korea, Japan and India have the largest market for skin care consumers in the Asia-pacific region. By analysing the test market we can refine the products to make it more commercially viable before the global launch.
Editor's Notes
- WANQ is an online retail company that designs and manufactures stylish clothing for men. It was launched in 2007 though sales have been weak due to the global economic condition and fierce competition in the clothing market. Finding a new retail segment for the business will help generate more revenue and overall market share. We have chosen the men’s grooming segment because it is a growing market and set to increase in value.
- The new product line will be a natural skincare range specifically designed for men.
- The product I have decided to launch is “Tinted Moisturiser” for men. The idea with this product is to strategically brand it “TNT cream” instead of “Tinted Moisturiser”.. “TNT” has become an abbreviation for “Tint” or “Tinted” and instead of “moisturiser” have used the word “cream”. Why? To make the branding more masculine and attractive to the male audience.
- TNT Cream is a lightly tinted moisturising lotion intended specially for men. It’s designed to repair and hydrate skin as well as prevent premature aging. TNT Cream protects the skin from harsh environmental elements such as UV rays which can cause long-term skin damage or melanomas. The lightweight, non-greasy formula evens out skin tone leaving your skin smooth with a matt finish for natural looking coverage.
- 1. According to Mintel, a leading market research company, the natural and organic personal care market has risen from $345 million to $465 million since 2005. (www.herbalix.com/blog/2012/12/natural-skin-care-trends-for-2013) 2. The men’s skin care segment is developing quite rapidly and so are consumer trends. People are becoming more conscious about what they are putting on their skin, and looking for a good quality product that is made from natural ingredients. 3. NPD, a market research company, found that at least 7 in 10 men are buying facial skincare products for themselves. 4. New research has shown that women's products are increasingly being purchased by men. http://www.nydailynews.com/life-style/fashion/report-men-increasingly-buying-women-beauty-products-article-1.1104625#ixzz2TjAN3qqy
- To screen the product we ask existing customers if they want to participate in concept survey. Candidates will be contacted via email offering them a discount on their next purchase for taking part in the evaluation. The data will be used to improve the product and ensure it meets consumers demands.
- The bottle is designed to replicate a TNT dynamite stick TNT cream must look and feel more masculine than other brands or packaging in the market Available in 100 mL or 30 mL bottle. The 30 mL bottle is an option for consumers who want to trial the product. Eco-friendly packaging and 100% recyclable materials Used discreet branding and wording as a marketing strategy. Some men will not feel comfortable going up to a counter and asking for tinted moisturiser or make-up.
- Test marketing will be online consumers located in Asia-Pacific region. We can track real-time activity and use a marketing metrics to monitor and measure ‘Key Performance Indicators’. From the information we can refine the product and adjust it to make it more commercially viable before embarking on a global launch.