Marketing Strategy Assignment Hair Care Product MKT306
TITLE PAGE
NAME - SHERA GOPAULSINGH
STUDENT NUMBER - 149054971
ASSIGNMENT CODE - MKT306
MODULE NAME - MARKETING STRATEGY
MODULE LEADER – KAREN WHARTON
ASSIGNMENT – The Herbarium Limited – Cher Mère – Hair Care Product
Date Due: January 16th, 2015
Word Count: 3825
Cher-Mère – Hair Care Product Line
Shera Gopaulsingh
EXECUTIVE SUMMARY
In 1985, when Cheryl Bowles founder of The Herbarium Company Limited decided to start her own company, she understood that being a local company she would have to fight against a lot of bias. By using freshly harvested herbs and natural botanicals, Bowles created her first product
“The Cher Mère” hair food. As the market for hair care products grew and competition became high she started introducing new products to the Cher Merè line to meet market requirements and the changing needs of consumers.
On analysis of the Cher Merè brand operations since its arrival into the Trinidad market, it can be seen that the company started in the introduction phase of the product life cycle and has moved into the growth stage. The competitive analysis of the market shows that the market is not yet highly competitive. There is only one local competitor who enjoys the largest market share – The market leader. The Cher Merè brand branches itself is distributed selectively allowing products offered to reach only a certain geographical segment of the Trinidad’s population – The North, South and East. Pricing is relatively lower than that of the market leaders and all the products offered are natural, herbal and eco-friendly.
Due to this analysis, recommendations are put forward to increase profitability and market share value in the coming years. These recommendations include segmentation, targeting and positioning of the Cher Merè brand and product offering in order to expand into different segments of the market and gain a bigger share. Also, a new product development strategy to modify its existing Shampoo line, changing its image and
NAME - SHERA GOPAULSINGH
STUDENT NUMBER - 149054971
ASSIGNMENT CODE - MKT306
MODULE NAME - MARKETING STRATEGY
MODULE LEADER – KAREN WHARTON
ASSIGNMENT – The Herbarium Limited – Cher Mère – Hair Care Product
Date Due: January 16th, 2015
Word Count: 3825
Cher-Mère – Hair Care Product Line
Shera Gopaulsingh
EXECUTIVE SUMMARY
In 1985, when Cheryl Bowles founder of The Herbarium Company Limited decided to start her own company, she understood that being a local company she would have to fight against a lot of bias. By using freshly harvested herbs and natural botanicals, Bowles created her first product
“The Cher Mère” hair food. As the market for hair care products grew and competition became high she started introducing new products to the Cher Merè line to meet market requirements and the changing needs of consumers.
On analysis of the Cher Merè brand operations since its arrival into the Trinidad market, it can be seen that the company started in the introduction phase of the product life cycle and has moved into the growth stage. The competitive analysis of the market shows that the market is not yet highly competitive. There is only one local competitor who enjoys the largest market share – The market leader. The Cher Merè brand branches itself is distributed selectively allowing products offered to reach only a certain geographical segment of the Trinidad’s population – The North, South and East. Pricing is relatively lower than that of the market leaders and all the products offered are natural, herbal and eco-friendly.
Due to this analysis, recommendations are put forward to increase profitability and market share value in the coming years. These recommendations include segmentation, targeting and positioning of the Cher Merè brand and product offering in order to expand into different segments of the market and gain a bigger share. Also, a new product development strategy to modify its existing Shampoo line, changing its image and