Evo Water Killer Dry Shampoo: A Marketing Plan
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)
SWOT Analysis
Strength
Weakness
Saving of labour, time and water
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)
SWOT Analysis
Strength
Weakness
Saving of labour, time and water