Marketing Plan for Evo Water Killer Dry Shampoo
1. Situation Analysis
The product selected for analysis is Evo Water Killer Dry Shampoo. Before developing a detailed marketing operational plan, it is of great necessity to firstly clarify the situation faced by the entire shampoo industry. In terms of the macro-environment for shampoo industry, the environmental and technological factors from PESTLE model are the two most influential ones for shampoo manufacturers. Known as a FMCG product with relatively low prices and stable market demand, shampoo business are less influential by political, economic, social and legal factors. In comparison, technological factor is important as the R&D expenditure on shampoo chemical composition or formula substantially determines its quality and functionality. On the other hand, environmental factor is crucial for its correspondence to the increasing embracement by consumers to environmentally friendly product. Survey Monkey (2015) found that 35% of consumers are very likely to spend more money on products that are better for the environment, and 56% of respondents are at least moderately willing to spend more for environmental contribution. Similar research evidence was also revealed by Environmental Leader (2013), highlighting an increasing consumer trend of welcoming the environmentally friendly product. Based on such market opportunity identified, the strength of Evo Water Killer Dry Shampoo such as the saving of time, labour and water consumption can be used to capture the market attention. Such strength is also a result of technological input and can be seen as a technological point of difference. The weakness of Evo Water Killer Dry Shampoo is however the low brand awareness in the market. This problem could be further deteriorating with the threat of fierce market competition by existing big brands such as Dove and Johnson.
(Source: Survey Monkey, 2015)
Saving of labour, time and water (Environmentally friendly)
Low brand awareness and demands for more market education
Increasing embracement and recognition of environment by consumers Fierce market competition by existing big brand rivals such as Dove and Johnson
2. Marketing Goal
As mentioned previously, low brand awareness is the major problem that needs to be tackled immediately. The marketing goal of Evo is therefore set as below: To increase the brand awareness by 10% in the next six months, measurable by brand recall or recognition test.
3. Marketing Strategy
Evo should primarily target the millennial, which refer to the younger generation born after 1980, due to their highest recognition of importance of environmental protection, indicated by NMI’s research result (2013). In the meantime, referring to Twenge and Campbell (2011), millennial as deeply influence by advanced technology, demonstrates their preference of convenient lifestyle, and are generally more open to new experience than others. Evo as a revolutionary, creative product, is very likely to be embraced by millennial. The millennial can be further divided into sub-segments such as IT lovers who spend considerably more time indoor, outdoor sport lovers who love outdoor activities and business people who travel more frequently than others.
While the purchasing decision of shampoo in general is a low-involvement one, it can escalate to a high-involvement one, when it comes to health implications, and benefits of saving on labour, natural resources and time consumption. Evo’s product is the best offering for IT lovers as it enables them to maximize their time utility in front of computers. These customers will be less bothered by hari washing in a traditional way. For those outdoor activity lovers, Evo’s product is easy to carry and would only require a hair dryer during the washing. Convenience is maximized during outdoor travels and it gives...
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