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Himalayas Company’s Marketing and SWOT Analysis Report (Assessment)

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Updated: Aug 27th, 2020

Introduction

A marketing research plays a significant role in making a new product succeed in a competitive market. It helps one identify opportunities, and employ appropriate strategies in new product development. This paper provides an example of an opportunity for the Himalayas Company. It shows how the market was analyzed, the description of the new product, and the product’s SWOT analysis. The paper also looks at the product’s proposed pricing, distribution process, and promotional mix.

Marketing Analysis

We conducted a research to analyze the Himalaya’s marketing strategy. We got information from the internet and visited different supermarkets. In addition, we asked our family members, classmates and friends about their opinion on the Himalayas’ products. To get the public opinion about this new product, we developed a questionnaire and randomly distributed it to 100 people in the UAE. The distribution was through the social media interfaces such as Facebook, Twitter, Blackberry Messenger and WhatsApp. We found that many ladies preferred changing their hair colour from time to time. We also learnt that they needed special care for their hair. We noted that the Himalayas Company did not offer any shampoo for the colored hair. Based on these results, we saw an opportunity of introducing a shampoo for colored hair in the market. This would help us serve and satisfy the needs of these customers.

Questionnaire

What is your age group?

  • 10-15 years old
  • 16-20 years old
  • 21-30 years old
  • 31-40 years old
  • 40 and older

What’s your gender?

  • Male
  • Female

Are you a user of Himalaya’s products?

  • Yes (move on to question 3)
  • No (move on to question 4)

Why do you like using Himalaya’s products?

………………………………………………………………………….

Why you don’t like using the Himalaya’s Products? Which company’s products do you prefer to use instead and why?

………………………………………………………………………….

Would you like to by a new offer from the Himalayas for coloured hair? Why?

…………………………………………………………………………..

Do you think the product will be suitable for your hair type?

……………………………………………………………………………

As a man, would you purchase the Himalaya’s products that target the male gender?

  • Yes
  • No
  • Depends

Other than the effect the shampoo has on your hair, what other things will you consider before buying it?

…………………………………………………………………………….

What price do you expect to see for the new product line from the company?

……………………………………………………………………………..

Proposed Product or Service

The core product level

Customers prefer changing their hair colour from time to time, and hence will be satisfied by the product. The shampoo will take care of their colored hair and protect it from damage. It would also keep their hair healthy and shiny. The Himalayas Company will increase its sales, profits and revenues.

The actual product level

The shampoo is of different colours. It will be packed in different sizes to make it affordable to the low and middle income earners. The Himalayas Company will ensure that the product was of good quality.

Augmented product level

The Himalayas Company will add nice and unique smells to its shampoo for the colored hair to differentiate it from those of its competitors. The company marketers will add vitamin-e to the product. This will help prevent hair loss and promote hair growth.

Product SWOT Analysis

The SWOT analysis refers to the product’s Strengths, Weaknesses, Opportunities, and Threats (Kumar & Phrommathed, (2005). We have created a SWOT analysis model for the shampoo for colored hairs, as shown below;

Strengths
  • Prevents hair loss and promotes hair growth,
  • Many customers have turned their preferences to colored hair.
Weaknesses
  • Requires investing in technologies (which is expensive). Technological systems need to be integrated to make the product reliable to customers with coloured hair.
  • It is dangerous if consumed by human beings.
Opportunities
  • Growing market for shampoo products
  • Increasing demand for the product
Threats
  • Competition from other products
  • Changing hairstyle fashions leading to lack of market for the product.

Proposed Pricing

Since it was the first time for the Himalayas Company to introduce the shampoo for the colored hair (new product development), we proposed a relatively lower price for the product than competitors. This made it unique and attractive to many customers, making the company gain a competitive edge.

Proposed Distribution Process

We came up with an ‘intensive way’ as our distribution method. This method will ensure that customers access the product anytime they need it. The company will transport the product from the manufacturer product to different places (retailers) such as in supermarkets (Safeer, Lulu and Kharfour), as well as, to groceries and saloons, using its transportation trucks. We came up with this diagram to show how the product will be distributed.

Proposed Distribution Process

Proposed Promotion Mix

We will integrate the 4P marketing strategies in promoting the shampoo for colored hair. The 4-mix elements include the place, product, price, and promotion (Annacchino, 2003). We will ensure that the shampoo for colored hair is of good quality, unique, and attractive to customers. We will also establish the best channels of distribution to ensure that customers from all places accessed the product. We prefer charging lower prices than our competitors in order to gain a competitive advantage. We will also incorporate promotional mix tools to create awareness, educate, and influence potential customers. This include advertising, personal selling, sales promotion, publicity, direct marketing, and internet based marketing (Henderson, 2003).

Conclusion

Market research is very crucial for product development. It determines the right product or service that should be introduced into the market. It involves market analysis, product definition, SWOT and PEST analysis, pricing strategies, distribution channels and promotion mix among others. The new shampoo for the colored hair can succeed if the Himalayas Company employs marketing strategies in its operations.

References

Annacchino, M. A. (2003). New product development: From initial idea to product management. Amsterdam: Butterworth-Heinemann.

Burrow, J., & Bosiljevac, J. (2012). Marketing. Mason, Ohio: South-Western Cengage Learning.

Henderson, S. (2003). Basic hairdressing: A coursebook for level 2. Cheltenham: Nelson Thornes.

Kumar, S., & Phrommathed, P. (2005). New product development: An empirical study of the effects of innovation strategy, organization learning, and market conditions. New York: Springer Science+Business Media.

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