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Business plan brief - Research Paper Example

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In order to ensure the success of the new sun block makeup line which will be introduced by Hawaiian tropic, this portion will look at the entire market for these products and identify through the use of strategic marketing tools the most attractive market that the company can focus into…
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Identify segments and select target market In order to ensure the success of the new sun block makeup line which will be introduced by Hawaiian tropic, this portion will look at the entire market for these products and identify through the use of strategic marketing tools the most attractive market that the company can focus into. Thus, this process will be undertaken through the four identified steps in class namely: defining the product category/brand; choose the bases/descriptors; profile/analyze segments and select targets/implements mix.
Define product category
Typically, a woman who wants to wear makeup while having fun in the sun puts on a thin layer of sun block after applying makeup or vice versa. In other circumstances, sun block is also incorporated in moisturizers. Hawaiian Tropics aims to provide a new sun block makeup line which incorporates the sun protection offered by typical sun block together with the physical enhancements of makeup. The new product is aimed to be a fusion of these two typically separate products. In so doing, the line will be addressing the need of women on the go as this requires lesser application time. The two-in-one product will allow women to retouch their makeup and put on sun block anytime they need them.
Choose the bases/descriptors and analyzing segments
In order to segment the market, Hawaiian will use demographic and consumer behavior. In terms of demographics, age will be taken into consideration. These are the identified segments for this:
Teens (13-19)
Transitioners (20-34)
Adult (35-45)
On the other hand, the behavior of consumers who uses make up is based on the frequency of usage. These are as follows:
A-always uses sun block together with make up
B-uses makeup only; no sun block
C-uses makeup; applies sun block when sun exposure is expected (going to beach, outdoor parties, sports tournaments, etc)
D-uses sun block only; no makeup
E-uses neither sun block nor makeup
Selecting Target
After looking at the market, Hawaiian Tropics' decision is to target transitioners who are either A or C. In terms of age, these markets are seen to be often seeking for beauty products in order to enhance their physical appearance and have confidence in themselves. Being in the stage of transitioning from teens to adulthood, this age group desires to have products which will enable them gain confidence when dealing with other people and are more likely using both makeup and sun block. The choice of going after customers using makeup and sun block together or separately is justified by the fact that these are the most profitable market. Since the resource of Hawaiian Tropics is limited, it is often hard to convince and change the habit of customers and transforming them into sun block and makeup users. Thus, we aim to target those who have knowledge on these products, use them, and are seeking for better solutions or alternatives. Read More
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