JNJ has been a publicly traded company on the New York Stock Exchange since 1944. The company's ticker is JNJ. They boast 72 consecutive years of increased sales and 44 consecutive years of dividend increases. Part of JNJ's success is contributed to their innovation and continued development of new products.
Mission StatementJNJ does not have a simple mission statement but a one page document titled, "Our Credo." The beginning paragraph of "Our Credo," is as follows:We believe our first responsibility is to the doctors, nurses and patients, to mothers and fathers and all others who use our products and services. In meeting their needs everything we do must be of high quality. We must constantly strive to reduce our costs in order to maintain reasonable prices. Customers' orders must be serviced promptly and accurately. Our suppliers and distributors must have an opportunity to make a fair profit.
Geographic LocationCurrently JNJ is parent to 230 companies throughout the world, all of which currently and historically market health care products. The principal office is located in New Brunswick, New Jersey and employs 116,000 employees in 57 countries worldwide.
Product MixThe business segments of Johnson & Johnson include consumer, medical devices and diagnostics, and pharmaceutical. Each segment has numerous companies and product lines. Our product will be part of the consumer segment and a product line of Johnson's Baby.
Product DescriptionAfter much research JNJ decided to create a diaper in conjunction with Balmex diaper rash cream. Balmex is a successful product of JNJ and has been pediatrician recommended for over 50 years. Balmex reduces redness from diaper rash within hours. (Johnson & Johnson Consumer Companies Inc. 2006) The question the research team faced was how to prevent diaper rash instead of treating diaper rash. The answer that they came to was to get Balmex to the skin before the rash had a chance to develop. This idea is behind the creation of the brand new JNJ diaper.
SWOTT AnalysisThis SWOTT analysis will attempt to uncover the strengths, weaknesses, opportunities, threats and trends associated to this new product of JNJ diapers with Balmex.
StrengthsJNJ is one of the world's leading manufacturers of health care products. The company has a strong product portfolio and has developed a well recognized name amongst parents for their child care needs. This strong brand image puts the company at an advantage when it comes to launching new products.
The company is in a healthy financial position that allows the company to provide the resources necessary to exploit opportunities and promote their products heavily.
Balmex is a well established product and has been recommended by pediatricians for over 50 years. This type of trust will automatically generate sales for the company. Balmex treated diapers would not only treat a diaper rash but prevent one from occurring. This new product in not only more convenient, but much less messier than the alternative of applying a thick cream that is difficult to wash off the skin.
The company already has developed the application process of this product through an existing product line, Carefree Panty liners. This will save the company from having to do the research from top to bottom for this new product line.
WeaknessesLike any new product,...