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Free marketing plan sample of Philips, Hair Streamers, by

  1. 1. NEW PRODUCT DEVELOPMENT STRATEGY:Beauty Market – Hair Streamer for Professionals Marketing Plan Sample 2010
  2. 2. IntroductionØ Created in 1891 by the Philips brothers In the Netherlands.Ø Euro-next and NYSE Generated 26 billion Euros of revenue in 2008.Ø One of the most important electronics companies in the world. - Present in 60 countries - 162,000 employees 3
  3. 3. 1.1 Company macro environmentPhilips is strongly influenced by several environments: economical, social and technological.1.2 Market analysis• Geographically: mainly North America and Europe• Business Sectors: Healthcare, Consumer Lifestyle, LightingSources: Support Manager Philips headquarters 4
  4. 4. 1.3 Competitive analysis• Direct competitors: other companies that offer electronic devices such as Samsung, LG, Sony.• Indirect competitors: all companies that respond to similar needs: Siemens, Braun, automotive industry, Nespresso…• Future competitors: Babyliss, Calor, Chinese brands… 5
  5. 5. 1.4 Market Segmentation• So extensive range of products almost everyone can be Philips potential consumer• Mostly people that care for reliable products1.5 Existing Marketing Mix• The two main elements are: • Indirect distribution channels • Brand 6
  6. 6. 1.6 SWOT Annexe 1Strengths• reliable brand name• innovative productsWeakness• Product responding to consumer needs• very little interaction with consumersOpportunities• use of internet to provide more servicesThreats• fast changing environment1.7 Positioning Annexe 2 7
  7. 7. 2.1 Marketing Strategy• In 2010, we will focus on a product development strategy as we will stay on the same market (beauty) and offer a new product; hair steamers of high quality.2.2 Desired Marketing SegmentationOur targets :- professional hairdressers- people who buy powerful products 8
  8. 8. 2.3 Desired Marketing Mix PRODUCT PLACE Physical indirect distribution channels PRICE MarCom 2.4 Marketing Objectives as result of the SWOT 9
  9. 9. 2.5 PositionP: Philips (2009)P2: Philips (2010)C: CalorBa: BabylissBr: Braun 10
  10. 10. 2.6 Yearly sales forcasts• Estimated revenue thanks to our products in 2010 Medium price x Number of products sold daily x Number of open days in a week x Number of weeks per year 225.- x 4 x 6 x 52 = 280 800 € 11
  11. 11. 3.1 Main cooperative bodiesCollaboration with:• Elite Model agency (accessories)• Schwarzkopf professional (hair care and styling products)• Huiles & Sens (aromatherapy, essential oils)• 3.2 Marketing Current situation in the market• We recommend Philips to continue : Organizing the Simplicity Event to introduce their new products and concepts. Participating to international exhibitions as an example the DesignBrussels. 12
  12. 12. 3.3 Developing new products and its pricing• Hair steamer with integrated essential oil sprays designed for professionals and accessible for a demanding clientele.• High-end price: 225 €• Guaranty for 3 years and possible extension (50 € per year).• After-sale service 24/7• Innovating pricing system: free trial during 2 weeks and payment after that if the client is satisfied with the trial. 13
  13. 13. 3.4 Marketing Activities1) ProductForesee various colors and modern design.Create a detachable and adjustable base.Innovate thanks to our partnerships : essential oil sprays.Set-up an after-sale service 24/72) Distribution channelsDirect: Hairstylist salonsIndirect: “Boutique du coiffeur“ and wholesalers3.5 Enhancing service marketing principlesAgents able to speak several languages, to negotiate and toknow very well the product following company training. 14
  14. 14. 3.6 GANTT schemeWhat Who When Cost CommentsMailing to Sales 6 – 10 January 1600 € in the main10000 hair Manager and 2010 4x 10€x8hx5d cities in thestyling salons 4 assistants worldParticipation to Sales and 6-8 November About 12000 € In Paris (9 amthe MCB Marketing 2010 (including fees, to 7 pm)Mondial coiffure Manager stand, agents,Beauté And agents transports, equipments…)telemarketing 10 Salesmen 3-17 February 10x10Ex8hx14d In the main2000 calls = 11 200 € cities 15
  15. 15. 3.7 Marketing yearly budgetResources UsagesSelf 80% = 89 856 New product 40%= 44 928 development1+1› 2 10% = 11 232 Indirect Marketing 25% = 28 080Short term loans 10% =11 232 Events 20% = 22 464 Marketing research 5% = 5 616 Unexpected 10% = 11 232 expensesTotal ( 40% x 280 800) 112 320 Total 112 320 16
  16. 16. 4.1 Control BodiesControl committee composed by:- Marketing manager- R&D manager- Production manager- Finance manager/ Accountant4.2 Control toolsBased on “Management by objectives” we recommend to relyon satisfaction surveys and statistical reports. 17
  17. 17. 4.3 Control by MilestonesFor our Marketing plan important days are: 2010 January June December Well-being fair Fashion 4-8 February week Paris 24-27 June Hair style week 16 – 21 November M.C.B. Paris 6-8 November4.4 Criteria of successTo have a good brand image on the beauty market.To reach a high level of satisfaction from our clients and toretain high loyalty levels. 18
  18. 18. Annexes• Annexe 1 SWOT That depends on the company 19 BACK
  19. 19. • Annexe 2 PositioningP : Philips ( 2009)C : CalorBa : BabylissBr : Braun 20 BACK
  20. 20. • Annexe 3 PHILIPS SURVEY (by Support Manager, Philips headquarters , Amsterdam, Netherlands)1. What are the political (legal), economical, sociological and technological influences over Philips company?Economical: credit crunch – smaller turnover, smaller profits,Sociological: increasing unemployment: smaller turnover, consumer expect product that maketheir life easier,Technological: fast technological changes force Philips to adapt quickly,Political: Comply with specific rules and standards that are implemented in countries wherePhilips is present.2. Which are the main markets that Philips is part of?Healthcare, Consumer Lifestyle, Lighting3. Which are the direct and future competitors of the company?Direct competitors: other companies that offer electronic devices as Samsung , LG, Sony.Future competitors : mainly Chinese brands4. Who are the people interested in Philips products (potential customers)?Philips offers such an extensive range of products that everyone can be Philips potentialconsumer. However brand attracts mostly people that care for reliable products. 21
  21. 21. 5. What are the two most important elements within your Marketing Mix? Why?All elements of marketing mix are important. Lack of attention to one of the 4P’s may cause failure on the market. In my Business Unit Consumer Marketing Managers (CMM) develop a product only after they have checked consumer needs. Moreover, CMM needs to remember to create product within a given ‘price-cost range’ to meet consumer expectations. Price that is visible on the market is negotiated between Marketing Manager and Customer Marketing Manger in the relevant country. Promotion – packaging and visuals are developed by CMM but localized locally (there is also possibility to develop some new marketing materials locally). Price-related promotion is agreed between country and Marketing Managers. As you see, none of 4P’s has a dominant position.6. What are the main Strengths, Weaknesses, Opportunities and Threats of Philips?Strengths – reliable brand name, innovative products, shifting from product to services (from creating a product to fulfilling consumer needs), know-how.Weaknesses - developing product that do not respond to consumer needs (sometimes there is no need for the product created by Philips and such a need is also not created), lack or very little communication with consumers. Sometimes consumers do not know that a line of products exist. Finally, there are many procedures that are not flexible enough.Opportunities - use of internet to provide more services.Threats – fast changing environment (organization is too formal to respond to fast changing markets). 22
  22. 22. 7. Can you please rate the position of Philips in connection with the following criteria: Excellent Good Fair Bad PoorInternational presence □ □ □ □ □Market position (leader, challenger) □ □ □ □ □Value for money: price □ □ □ □ □ Our Conclusions This interview, that reflects the marketing strategy of this year, had an impact on our marketing plan. Information about markets and competitors helped us to focus on consumer lifestyle with the creation of a hair streamer for professionals. Then, we considered some of Philips’ weaknesses and threats. We tried to alter those weaknesses into strengths and opportunities for the coming year. 23
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