Cigol Bangladesh Ltd. is planning to launch a new product range named “Z Clean Hand wash” in a growing market. Though Lifebuoy Hand wash (A product of Unilever) is the current market leader, and there’s more competitors like Dettol Hand wash (Reckit Benkiser), Savlon Hand washing Liquid (ACI) and Sepnol Hand wash (Square Toiletries ltd.), we can compete because our hand washing products offer a distinctive blend of quality, features, benefits, service and value based pricing. We are aiming several segments in the consumer and business market. Our plan is to capture the advantage of the increasing demand for more featured, varied and exclusive hand wash products for everyone and also providing service, based on consumer type.The primary marketing objective is to achieve first-year Bangladesh market share of 5 percent with unit sales of 1,00,000. The primary financial objectives are to achieve first-year sales revenues of Tk. 5,02,500, keep first year losses to less than Tk. 1,05,000 and break even in the middle of second year.
Target market: Health conscious people, Mothers/Parents, Women, Men, Kids, Working People/Outdoor people, Household Users, Corporations
Current Marketing Situation:
In Bangladesh due to more concern for hygiene and recent increase in various contaminative diseases, Hand wash market in Bangladesh received a sudden rise in demand. Forecasts suggest an annual sales increase of 10 percent for the next 3 years. The major competition is Lifebuoy, Savlon and Dettol due to their long-term brand equity. Yet we can compete with our product variety and some unique offers. But at first Cigol Bangladesh Ltd. cautiously needs to determine the specific benefits and features it is planning to offer to specific customers.
Our company is planning to extend the brand further and increase its market share by using the new branding strategy. The company is now preparing to enter the growing market of Personal care and planning to launch a whole new product range of hand wash using a new brand name.
At present the hand wash market in Bangladesh is at its growth stage. Four main competitors exist in this market. But these products hardly offer any variety. Competition is mainly from Lifebuoy, Savlon and Dettol due to their bran equity. Our main challenge will be establishing a new brand in the current market. The Key competitors review is listed below * Unilever: Unilever launched the brand lifebuoy and the product was anti bacterial soap. Then it launched lifebuoy liquid hand wash of two different colours. Lifebuoy hand wash is currently offering the market 200ml bottles and also Refill packets. It emphasizes on the guarantee on killing 99.99% bacteria that can harm health. At present it is the market leader. * ACI: ACI launched the Savlon handwashing liquid and currently offering 250ml and 1000ml bottles. No other variety is offered by ACI. * Reckit Benckiser: Reckit Benkiser has launched Dettol Anti Bacterial Liquid Hand wash with a tagline “Be 100% sure”. It also offers 200ml bottles and also Refill packets. * Square toiletries ltd.: Square Toiletries ltd., a successful personal care product manufacturer recently launched Sepnol Anti Bacterial Hand wash of 200 ml bottles. But it hasn’t achieved its break-even point yet. Though Unilever is dominating the current hand wash market, Cigol Bangladesh Ltd. can bend out a specific image and gain acknowledgment among the targeted markets with its distinctive product features. Table Z.2 shows a selection of competitive hand washing products and prices. Table Z.2- Selected Handwash products and pricing
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Competitor| Product| Features| Price|
Unilever| Lifebuoy Handwash| Two coloured antibacterial handwashing liquid. Promises 99.99% diminishing of bacteria. | Tk. 145 for 200ml bottle| ACI| Savlon Handwash|...