Marketing research on hair oil
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The document provides a marketing research report on launching a new hair oil product called "OPT Hair Oil" in Bangladesh. The objectives are to launch the product, survive in the market, identify the target market as lower and middle income females aged 18-30, and study competitors. It discusses the product specifications, marketing plan, organizational structure with departments, SWOT analysis, PEST analysis, financial projections to increase sales by 45% and gain 5% market share, and establishes a marketing mix strategy including pricing of multiple pack sizes. The document contains questionnaires to analyze the market and seeks recommendations to address limitations of a new company launching a new product in the market.
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1. The business plan proposes launching a spiritual wellbeing package called Ananda Yantra, targeting upper-class urban and semi-urban customers, to be operated as a public-private partnership between the government of Kailasa and followers of His Holiness Swami Nityananda.
2. Ananda Yantra will offer a yantra, meditation technique, and Hindu way of life teachings. It will utilize existing ashrams and temples as supply chain nodes and a franchise model.
3. The plan requests $15 million in funding, with $13 million for first year operations and $2 million in emergency funds. Critical success factors include the brand of SwamiGreen Endeavors Grne investor deck
Green Endeavors is positioning itself for a roll-up of premium hair salon brands. It currently owns 3 Landis salons generating $3.3 million in annual revenue. It recently acquired Qnity, a training company for salon professionals, with $600k in annual revenue. Green Endeavors plans to acquire 4-5 additional salon brands over the next 3 years, generating a combined $38 million in annual revenues by 2020. The acquisition targets include regional salon chains with 2-10 locations and $4.5-$7.5 million in annual sales. Green Endeavors expects to improve acquired brands' EBITDA margins from 5-7.5% to 10% by leveraging
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Marketing research on hair oil
- 1. Marketing Research On “OPT Hair Oil”
- 2. Mohammad Ahsan Ullah - 20161038 Md. Ariful Islam – 20161058 Md. Mojahidul Islam Minhaj – 20161093 Md. Amrin Al Ahsan – 20161101 A. S. M Zamilur Rahman Khan - 20161120
- 3. OBJECTIVES Broad Objective To launch new hair oil in the market and to survive and sustain the product in the market Specific Objectives •To find out the target market. •To find out the social class of our target customer. •To find out the deservedness of customer. •To find out the switching mentality of our target customer. •To find out the present market condition of hair oil in general. •To find out the opportunity and threat to enter in the market. •Identify attractive product design. •To study our sales promotional activities. •Identify acceptable pricing policy for hair oil. •Find out channel of distribution process. •Identify the promotional tools. •Find out the competitors product quality.
- 4. Market: Bangladesh. Product: OPT Hair Oil. Brand: SQUARE. Manufacture: SQUARE TOILETRIES LTD. Production plant: Shardagong, Kashimpur, Gazipur. Product Life Cycle (PLC): Growth Stage. Product Mix: 3 Pack Size (100,200&300 ml) SPECIFICATION
- 5. RAW MATERIALS TESTS SPECIFICATIONS STANDARD (BSTI) Appearance Pale green color, oily liquid N/A Solubility Soluble in hot alcohol and alcohol ether mixture N/A Free Fatty Acid 0.5% max. as lauric acid 0.5 max Acid Value 1.0 max 0.5 mg/gm max Iodine Value 7.5 to 10.5 6-13 Specific gravity 0.915 to 0.920 0.915-0.920 Refractive Index (RI) 1.445 to 1.450 1.448-1.450
- 7. Primary & secondary Age: 18-30years Gender: Female Family Life Cycle: Unmarried, Married Occupation: Student, Housewife, and Specially Service Holders Social Class: Lower and Middle income group Geographical Location: Rural, Semi-Urban, and Urban Life Style: They used it for long, beautiful & soft hair
- 9. PEST Analysis Economical Environment Social & Cultural Environment
- 10. Marketing Objectives • Increase sales volume over 2017 by 45% • Establish the OPT Hair Oil in the market with 5 % shares Financial Objectives •To achieve Net Sales Income (NSI) of Tk 38.57 million in 2017 •To achieve Gross Margin of Tk. 7.51 million (19.48% of NSI) in 2017 •To achieve EBIT of Tk. 1.1 million (2.85% of NSI) in 2017 Projected Turnover In 2017 •Net Sales Income (NSI) of Tk. 18.49 million •Gross margin Tk. 5.58 million (30.17% of NSI) •EBT Tk. 0.91 million (4.92% of NSI)
- 11. MARKETING MIX Product Strategy • Product Development • Package Development Pricing Strategy • 100ml size • 200ml size • 300ml size Advertisement Strategy
- 12. PART- APART- B QUESIONNAIRE ANALYSIS
- 13. Recommendations •It is naturally difficult to launch a new product, as a new company OPTS Hair Oil company has some limitation. •We will try our best to find out our problem and we solve our problem very soon. •Customers are always welcome to give their comments. •We are always ready to solve customer problems.