Saturday, May 9, 2015

New Product: Analyses in the Real World

Analysis:
In 2015 Latinos make up 20% of 18 to 49 year olds, an age set that is significantly vital to HBC marketers, and will account for a growing segment of consumers of HBC products in the future. Using this information and data collected from a sample survey, we have a pretty clear idea of how to market Cal Blue cologne. Considering the results of the survey, the key demographic, aside from Latinos, is middle class American men between the ages of 18 to 50 years old willing to spend around $75 on a bottle of cologne. Our secondary demographic are the girlfriends and wives of these men who would buy Cal Blue as a gift.

Fragrance:

Cal Blue is the new cologne made to make a masculine man smell fresh and ready for whatever the night brings.  Cal Blue fragrance for men has a light blue to medium blue shaped bottle with a blue cap. Cal Blue fragrance has fresh top notes of cedar, cherry, and lime, the floral middle note is lotus, and woody base notes are sandalwood, amber and musk. Cal Blue is available in a bottle of 100 ml Eau de Cologne. Cal perfumes have a history of making great Southern California inspired fragrances. “Compared to men on average, Latino men are as likely to use after shave/cologne products. However, they are more likely to be frequent users of after shave and cologne. Latino men are 41% more likely than men on average to have used these products 14 or more times within the past seven days.” (pg. 10) Cal Blue is targeted towards Latino men because they have a huge impact on the market for Health, Beauty and Cosmetic (HBC) products in the United States.

Marketing Plan:
 Cal perfumery is associated with various distributors to maximize the products’ availability. The company is planning to eventually have its own distribution system in the near future. Promotional samples for Cal Blue will appear in magazines for men such as GQ and Maxim, we are promoting the new line through several Macy’s in malls nationwide, and we are increasing awareness for our website www.calscents.com with internet advertisements. The price of Cal Blue cologne range may vary depending on distribution channels, however, it should stay around $75 USD. The strength of the product is its simple design and attractive color, as well as its availability.  Its weaknesses are that it’s new to the perfume industry, lacks awareness, moderate pricing, and there is not enough stock for large orders. The opportunities include special offers, plenty of room for innovation, and a chance for a celebrity endorsement. Cal Blue’s threats are the growing competition and the short product lifecycle. Our positioning is against our competitors, product class and quality and the gender symbolization in advertisements.
Cal Blue aims to be a promising cologne regarding the quality and providing the best product for our consumers. Marketing this product on a large scale for it to reach a peak level and saturating the market.

Brown, Dr. Robert, and Ruth Washton. "The Latino Health and Beauty Care Shopper." Packaged Facts (2011): 10. MarketReasearch.com. Web. 9 May 2015. 

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