Marketing Strategy |
Pantene- Colour Therapy |
1.0 Situation Analysis/Current Marketing Mix 2
1.1 Current Product 2
1.2 Current Pricing 3
1.3 Current Distribution 4
1.4 Current Promotion 5
2.0 Segmentation Theory 5
2.1 Define and Explain Segmentation 6
2.2 Benefits of using Segmentation 6
3.0 Target market Segmentation 7
3.1 Geographic Segmentation 7
3.2 Demographic Segmentation 7
3.3 Physiographic Segmentation 8
3.4Behavioural Segmentation 8
4.0 Target Market Collage 9
5.0 Completion of Discussion/Rationale of the Target Market Collage 10
6.0 Reference List 10
1.0 Situation Analysis/Current Marketing Mix
1.1 Current ...view middle of the document...
Thus, the color therapy offers immediate restoring of the natural hair color also, so that the users can report to their office with their normal and natural hair color as well when the weekend celebrations are over. Since the product comes in various makes, they are often spotted easily and the customer starts to read whether the product is a shampoo or a conditioner. All the products offered are more or less similar in appearance and are also giving a same appearance as all of them have common size more or less and have the same colour (Friedman 2006).
1.2 Current Pricing
Not too long ago the products such as the one discussed in this report- Pantene color therapy was sold only in beauty salons and the manufacturers were keen on delivering the products of this nature only to the salons and the end customers would buy from them. Also, the company would have to provide these salons with a special price that was in lines with the prices of the competitors. They were supposed to match up the price with that of the competitors and use aggressive marketing techniques so that their product is bought in bulk. It is interesting to note that the customer who walks in a salon does not know what product is being applied to their hair unless they happen to ask the barber about it. There would be no surprises even if the owner of the salon practices some unethical principles and changes the contents of the bottle; tell the customer that they are being given L’Oreal at a higher price. However, they are being offered Head n Shoulders which is much lower both in terms of quality and price. The customer can never judge by the feel of the product unless it is one of those menthol products which gives and offers cool sensations to the scalp when the product is being applied. The Pantene color therapy is widely used product and thus the product is priced strategically which targets the working class. Typically, a bottle of Shampoo can be bought for $14.99 and since three products would be bought at once by most of the customers, it gives the opportunity to the company to make $45. The average period of usage of one bottle with 5-7 days per week usage is approximately 1 month. Thus, if the company manages to impress their customers and encourage the behavior of brand loyalty and repeat purchase they are sure to earn close to $500 a year from a single customer and the same would be multiplied by the number of customers using the product (Correnti 2006).
Competitors Price Range
Redken | $17.00 |
Joico | $13.75 |
Clarins | $19.00 |
Molton | $29.70 |
Fudge | $ 16.10 |
1.3 Current Distribution
As discussed above, earlier the premium products were available generally in beauty salons. However, the trend has considerably changed now as the product is increasingly available in FDM Channels. This resulted in more and more customers having access to buy the product directly as they were exposed to these...