Loctite Adhesive
Marketing Strategy BUS 37000 Saturday Section Bond-A-Matic Product Marketing Plan Partha Srinivasan
“I pledge my honor that I have not violated the Chicago GSB Honor Code during the Preparation of this assignment.”
Bond-A-Matic Marketing Plan
Executive Summary With the introduction of a unique low-cost adhesive dispensing product named as Bond-A-Matic (BAM), Loctite Inc is seeking to resolve dispensing issues such as clogging in smaller adhesive bottles. As a leader in development of high-performance adhesives and sealants for industrial and consumer applications, Loctite has a mission to become the premiere worldwide marketer of instant adhesives for industrial use by 1985. By increasing product awareness & brand recognition for Super Bonder, a CA adhesive product line, Loctite has improved sales revenue in 1978 over the previous year’s sales. With the idea of complementing Super Bonder, Loctite is hoping to expand adhesive dispensing equipment sales by introducing this new product. Bond-aMatic will be positioned as the low cost dispensing equipment for Super Bonder adhesive users. Situation Analysis CA sales were increasing at a rate of about 20% annually (twice the total adhesive market growth) and industrial adhesive use is outgrowing consumer market. Also based on a market research survey in 1977, it is found that 60% of purchasers bought less than a pound of CA adhesives while 55% of sales volume accounted for by small firms with fewer than 20 employees. By solving some of the problems (such as clogging) in dispensing adhesives, Loctite can improve its sales of industrial use CA adhesives. The current situation is further analyzed in detail in terms of consumer behavior, competition, Loctite’s core competencies & SWOT analysis for Loctite (see appendix A, C for information). Objectives for Bond-A-Matic Launch The launch of Bond-A-Matic product will be guided by two primary objectives 1) to catalyze Super Bonder sales with the help of complementary
“I pledge my honor that I have not violated the Chicago GSB Honor Code during the Preparation of this assignment.”
Bond-A-Matic Marketing Plan
Executive Summary With the introduction of a unique low-cost adhesive dispensing product named as Bond-A-Matic (BAM), Loctite Inc is seeking to resolve dispensing issues such as clogging in smaller adhesive bottles. As a leader in development of high-performance adhesives and sealants for industrial and consumer applications, Loctite has a mission to become the premiere worldwide marketer of instant adhesives for industrial use by 1985. By increasing product awareness & brand recognition for Super Bonder, a CA adhesive product line, Loctite has improved sales revenue in 1978 over the previous year’s sales. With the idea of complementing Super Bonder, Loctite is hoping to expand adhesive dispensing equipment sales by introducing this new product. Bond-aMatic will be positioned as the low cost dispensing equipment for Super Bonder adhesive users. Situation Analysis CA sales were increasing at a rate of about 20% annually (twice the total adhesive market growth) and industrial adhesive use is outgrowing consumer market. Also based on a market research survey in 1977, it is found that 60% of purchasers bought less than a pound of CA adhesives while 55% of sales volume accounted for by small firms with fewer than 20 employees. By solving some of the problems (such as clogging) in dispensing adhesives, Loctite can improve its sales of industrial use CA adhesives. The current situation is further analyzed in detail in terms of consumer behavior, competition, Loctite’s core competencies & SWOT analysis for Loctite (see appendix A, C for information). Objectives for Bond-A-Matic Launch The launch of Bond-A-Matic product will be guided by two primary objectives 1) to catalyze Super Bonder sales with the help of complementary