Posted at 12.01.2018
Colgate has realised the importance of marketing plan in its 200 years of existence. That is essential towards understanding the business enterprise plans, goals, and communicating the company's horizon within the operational market.
This statement will concentrate on the marketing plan for the new Colgate toothbrush called 360 Actiflex, as part of Oral care and attention and Health products which consists of Tooth paste, Tooth brush, Mouth rinse and dental care floss. Oral care is important because research suggest a clean mouth prevents gum disease and prevent heart disease.
The plan will addresses the market of dental office that may recommend the product to their clients and the product brand name will stay to be Colgate.
Colgate Palmolive has been in living for over 200 century plus they operate in more than 70 countries such as Brazil, America, Latin America, Asian etc that may enable to penetrate the new market easily. That is consequently of the brand, experience, capacity in term of resources and existing composition.
The 360 Actiflex brush with flexible mind for cheek and tongue solution is design to completely clean all direction, to eliminate bacteria from your teeth, cheek, gum and tongue for better mouth. Customers want toothbrush that can give them healthy clean tooth and breathe at an acceptable price.
Colgate Palmolive is looking to increase its market talk about in toothbrush which is currently at 30% in 2009 2009 by demonstrating proficiency and professionalism and reliability by offering new and existing customers. From the R&D, Colgate has had the opportunity to boost their existing products and present more products which meet the customers need in dental care.
According to analyze, customers only need several toothbrushes annually. 65% of customers have significantly more than one toothbrush, 24% keep clean at the job & 54% have special toothbrush for visiting.
Buying Behaviour Pattern
Customers bottom their purchase of teeth brush about how comfortable it seems in their oral cavity, whether it's gentle enough and suits their mouth area size or versatile enough. Their purchase is also base on the power of the toothbrush to eliminate food contaminants, plaque removal and gum stimulation.
' Colgate preserves strong romantic relationship with dental office, wholesalers and stores.
' Have a good communication with the consumers through advertising and other cultural resources
' Extensive industry knowledge and expertise
' Well designed training programme.
' Ability to persuade customers to invest more though continual rebranding and growing company sales by launching new twists on under set up brands.
' Increase competition where other competitors produce the same products.
' The recent downturn has effect on the reduced amount of planned enlargement.
' Oral care is a growing industry with the ever changing customers flavor.
' Continuous creativity using the theory technology problem.
' Changes in trade rates for foreign currencies, which may reduce the U. S. dollars value of revenue, acquire from oversea market sales.
' Political or economical instability or changing macroeconomic conditions inside our major markets,
' Absence of well-established or reliable legal systems in certain areas where in fact the Company functions,
' Colgate by launching the 360 Actiflex toothbrush is looking to achieve the next objectives:
' To wthhold the 20% existing faithful customers
' To increase current recognition degree of brand from 5% to 15% in a year through integrated marketing campaign of advertising, sales promotion and sponsorship.
' To acquire more customers by concentrating on the luxury segments of the marketplace.
The target of Colgate Palmolive is to position the company as constant market head of oral care and Heath care and attention, serving domestic market as well as international market.
To enter the marketplace Colgate will start with our dental professionals whom we have collaboration with in our existing various areas of operation. The company will make small adaptation upon upon this product that will permit to save lots of cost.
There will be a launch of the merchandise in selected dental care professionals where the demonstration of the way the product is use will be provided.
As part of tactic the large promotional initiatives will be launched through advertising activities that will include advertising by posters, tv, outdoor adverts, online adverts.
B: CRITICALLY EVALUATE THE MARKETING PLAN, SPECIFICALLY It has the MARKETING ENVIRONMENT.
Marketing environment requires the players and forces beyond your marketing that affect management steadiness to create and support effective connections with focus on customers.
Prosperous Companies usually identify the vital importance of constantly watching and adapting to the ever-changing environment.
The marketing environment of the company can be categorised into two areas this include macro environment and micro environment, the macro environment include the main actors of the company involved with producing, distributing, and promoting the offering.
The marketing environment examination can provide insight of online and offline competitive conditions. Using Five Causes Model, Porter points out that in any industry there are five causes that influence what happens within the industry, these five causes combine to constitute the business enterprise environment.
By learning the structure of dynamics between these makes, the company can discover opportunities for increasing the marketing strategies. When expanding company marketing plan which include the marketing, this may not be completely eliminated strategies Colgate Palmolive can identify the 'forces' as:
The Risk of new entrants
There has been n o major new entrant to the industry for recent years giving the giant producer of consumer goods like Colgate and others to dominate the picture. However, no major changes appear to be existing barriers to entry like the economies of range already benefited by the Colgate as a player who've been in the business for long. As a result of difficult trading conditions in the environment, capital requirements and integration costs are high due to the downturn in the increase rates of interest rises.
Power of supplier
Tighter credit markets may lead to business disruptions for certain of the suppliers, contract manufacturers or trade customers that could, subsequently, adversely impact colgate business. Despite the fact that this look impossible as the company will not want to loss Colgate business due to its global occurrence worldwide, this cannot be totally eliminated.
Significant competition on the market could affect the business enterprise, for illustration the demanding competition throughout the world, especially from the larger multinational consumer product companies who've higher resources than Colgate. The capability to compete will depend on the strength of our brands
and on our capability to protect our patent, hallmark and trade dress protection under the law and to reduce the chances of related challenges brought by competitors. Failing to remain competitive effectively could adversely influence the growth and success of the company
Limitation of the Five forces method
The limitation of the method is the conversation of the makes with one another especially with regards to the plastic life pattern which have an impact on the competitive causes significantly.
Media/IT Interference at Colgate Hand Olive
In 200 years of existence, it and media has assisted to develop a vibrant firm at Colgate. As the trend in IT changes over time, it has also been reflected in every operations the organization. You start with the historic IBM system systems of early 1950s to the first consumer personal computers of 1977 (Apple I, II & III), Colgate is continuing to grow alongside to compliment the transition with time.
In the modern era, elements of the positive impacts is seen in bulletin table services, computer conferencing, computer productivity on microfilm, communication network, decision support systems, E-mail (e-mail), Electronic spread sheet, Telex, video tutorial chat, teleconferencing and the favors has been a major contribution of IT and media to the industry. Not forgetting the advanced electric instrumentation for product packaging and transportation that we could notice at every stage of development. Marketing to a layman can now be entirely on twitter, facebook, youtube, text messaging, google, eposters and the likes. On a negative side, insecurity of data and documents is a major setback of modern IT and multimedia in marketing. The major dread here lies in the future of the system if it still cause similar advantages or negative value. All the aforementioned means of marketing in the present day era has tons of effects both favorably and adversely:
Positive Impacts of Advertising/IT
Marketing speed and Convenience
Modern IT/media has posed a lot of advantages about how fast information can be disseminated. A SATA system has a data copy rate of 300Mb/s (Wisegeek 2011). It indicates that a huge data of how big is a disc could be communicated to a sizable group of audience in less than one second. Marketing is now possible 24 hours per day, 365 days yearly. Customers can now bridge the queuing problems at stores (Hollensen 2007).
Cheaper dissemination routes
Because of easy means of data flow, the cost of distribution has fallen considerably over time. It cots only 50 pence to fax a full page whereas millions of pages will dispatched across the internet/multimedia at almost a free of charge distribution cost. Apart from the fact that the whole world receives the information at once and at the same quality, the impacts are the same with the impression expressed. Moreover, you'll be able to search for the cheapest price designed for brands (Hollensen 2007). Online financial services are also possible through these means.
Media and It includes managed to get possible to select target audience, complete information like product, availability, and pricing are provided for the individuals. Through the use of multimedia, the customers could have an improved knowledge of their needs by for example depicting the interior decorations or by exhibiting the beauty of cover estates.
Means of reducing workloads
Marketing requires tons of workloads which have been reduced by adopting it. IT supports the full range of organizational functions and processes that provides products and services to customers and other key stakeholders (Chaffey et al. 2000). Different efficient parts of the business can be corporately glued using this tool.
Negative Impacts of Mass media/IT
Despite the raging benefits liked by the organizations using IT/Multimedia, the following concerns are yet to be dealt with:
Identity problem is still yet a major problem of modern marketing. The use of passwords as a safe key has been compounded by the hacking developers. Loop openings have been created in a large amount marketing links. This has posed difficult to the continuing future of e-marketing/marketing communication systems.
Spam diseases in marketing consists of filtering from positive information from the direct sender by code hackers or computer viruses
There is tendency for marketing crash of similar products from different manufacturers. Sometimes we found it difficult determining the dissimilarities in the advertising campaign from similar companies.
Crackers often catch details rendering the marketing system unsafe for customers. Many worries have been portrayed by customers on crackers acquiring the credit/debit cards details. This is still a menace to be investigated in future of information technology and multimedia.
S Hollensen (2007) Global Marketing A decision-oriented procedure, fourth release pp. 499-506.
Wisegeek (2011) An internet site. on data transfer rate, [online], Offered by www. wisegeek. com/what-is-data-transfer-rate. htm Assessed: 29 Mar. 11