The cosmetic market is always in a high growth rate. Deodorant market is a newly growing cosmetic market. It has a very high growth rate in Bangladesh. Kool deodorant stick is a new SBU of Square toiletries ltd. The basic marketing need is to meet people bad dody odor problem. Kool brand is focused on the male segment of the market.
2.1 market summary
The estimated market size is approx TK 200 million. Nearly 38% use Telkom powder as deodorant. Major competitors are Unileaver’s rexona, Telkom powder and some foreign brands. Very small amount of people use foreign brands. Rexona came up with strong media campaign and has succeeded to have a good share in the market.
Kool deodorant stick is only targeted to male consumer. It is expecting market share 20%. It is expected to increase sales over the next few years because the market is expanding. The primary buyers are middle and lower middle class people, aged 15 to 35, Who are conscious about there body-odor. Beside deodorant stick or spray consumer often buy powder in our country it is a heritage thing in them to use powder as perfume. But today consumer are more knowledge able and they want specific product which can help them to get what they want. Consumer also want to buy deodorant which will not harm there skin or create rashes in their skin. For this they seek help from different sources like different media, relatives, friends and other sources so that they can take decision in buying right product.
Kool deodorant stick is only targeted to the male segment of the market. As todays men want specific product for them. They are less likely to use unisex product.
2.1.1 market demographic.
▪ The Bangladesh is the geographic area. Due to enormous reach of TV in whole Bangladesh the whole market can be targeted.
• Age 15-40
• School, college, and universities student.
• Have a individual income or allowance of monthly 1000TK or higher.
• Have a smart attitude.
2.1.2 market need
Kool deodorant stick is providing people some basic need
• Varity in selection of deodorant scent
• Easy to use and not sticky
• Available in the nearest store
2.1.3 market trends
Market trend in todays generation is they are using more and more deodorant . the more they are getting aware of the necessity of the product they are using it more. The growth of the total market is very high consider to other line of cosmetics product in any firm SBU. People are using deodorant much more than Talcum powder. So Kool deodorant has a very good prospect in the market
2.1.4 Market growth.
The total market is growing in a very healthy way. It is growing in a 10% rate per year. The high promotion efforts of Unileaver in promoting their Rexona brand helped the over all market to grow. Kool deodorant stick can have a good impact in the growth of male segment
2.2 SWOT Analysis
As we look at our SWOT analysis to follow, we are in a sustainable overall position. We have strengths to balance our weaknesses, particularly our knowledge of what our customers need in terms of better quality, specific targeting, better packaging and pure ethnocentrism. We also have some attractive opportunities in these same areas of expertise. However, we have an inherent weakness in competing against price-oriented competition and brand awareness.
• Only masculine domestic brand of deodorant
• Have a very masculine scent
• product category image to customer is very high
• company reputation.
• Competitive pricing
• Still in learning curve in the business
• Limited marketing budget to make brand awareness
• It would be difficult to match competitor promotional effort, as they are multinational company.
• The target market has a major percentage of the total...