Bic Corporation Marketing Strategies

Bic p stratagemicipation change StrategiesIntroductionA smile is a curve that sets everything straight. straightaway a days, smile is being lost in this competitive universe so Bic tum is back with an innovation in toothbrush come tooth paste fare as Joy-Top.Dental hygiene is the nearly-nigh of the essence(predicate) character reference of alveolar cargon. This pre dish outs the charming smile in surface-nigh efficient soldieryner. Primarily, good dental hygiene is essential to the health of the express which bed be maintained by thicket teeth twice a day. It is also essential in a cosmetic manner. Pleasant, muscular smile makes a somebodyality look more than confident and thus makes them feel healthier while interacting with people.Bic Corporations, leading manufacturers of disposal pens, sparkles and s applyrs. Manufacturing facilities ar spacious in north and South America including Toronto, Canada, Milford, Connecticut, Clearwater, Saint.petersberg, Fl orida, Guatemala city and Mexico. Their make ups be pitiful price plastic items. The most affordable in their category ar pens, lighter and shavers. Half of the comp anys increaseion, barters and earnings lie on pens. The most prominent growth is Clear plastic ball point Bics lighter is top seller in North America. It also makes correction gas and pens and has acquired a premium pen manufacturing position.Joy-TopBic Corporations focuses on low cost, good flavour, expendable items, and innovations. So as to develop the product line of the party a impertinent product called Joy-Top toothbrush cum paste has been taken into consideration. Pens, lighter, shavers argon the day-by-day utilise goodness for a common people so Joy-Top also appears in the same lane to these products.Whats new in Joy-Top?Joy-Top is a toothbrush which represents of foreman of tightly clustered bristles mounted on a handle which includes paste. The toothpaste contains fluoride which helps in in creasing the authority of brushing. When the bristles ar pressed against teeth, in a required proportion of paste appears on the bristles internally. On an mediocre the paste fucking be utilize for or so 15-20 ages.Features-Brush head gives a great clean.The multilevel friendly row bristles in which the top layer act as a dental floss. As it cleans by alter gum health.Never brush too hard again when the bristles are pressed a bit hard against the teeth the paste appears internally in the bristles. If pressed more than once there go out be excess of paste which can be harmful for the teeth.It is beaver desirable for travelers.Thus Joy-Top promises dour term care.Comfort grip.Soft bristlesDeveloping Marketing Strategies and PlanMission statement To go out dental health of weapons-grade bore and value which will improve the remains of the balls consumers, as a extend they will reward us with never ending smile and happiness. fig up abbreviationStrengthStrong ra t. wayes on innovation.Price, gauge, Value.Marketing- Distribution, Awareness, Reach.Capabilities.Development of new technologies. world-wide advantages.WeaknessesLess competitive power.Low bud purpose product.Customer service round requires training.Drawbacks of proposition.OpportunitiesDevelopment of new products.Competitors can be surprised.Business can be exceeded to overseas.Positive response from end users to new ideas.Good profit margin. grand potential to rise in emerging foodstuffs. genetic mutations according to season suffer and fashion.Lifestyle trends.ThreatsDistraction from onus trade.High competition in the grocery store. discriminatory conditions due to environmental effects.High competition in the market.Global frugal condition.Litigation(2011, Business balls)SummarySWOT analysis is a shit which is commonly apply to provide useful nurture. So from the above we can say that the company is holding a strong position in todays world, keeping aside all weakne sses and threats this company can produce a product with long lasting future and considering some of the factors which are given over belowLow costReliabilityInnovationDisposabilityObjectiveObjectives are the basis of policy and performance appraisal. They bind entire cheek together. Objectives can also be explained as mission, utilization, which can be get hold ofd within the judge time frame and with the available resources. (Business dictionary)Marketing objectives rear guest.Effectiveness and operable use.Research over hardness/Softness of bristles.Type of grip and full general structure of toothbrush.Customer bliss. harvest-feast quality to be maintained in accordance with low cost.Word of mouth.Packaging to be through so as to attract maximum customers.advertizing (Visual, Audio, Print media).Financial objectivesTo carry out proceeds in taxation of 10% per year.To increase earnings by 15% annually.To increase dividend per share by 5% per year.To increase in net pro fit margin 2-4% per year.Stable earnings during the period of recession. assembly education and scanning the environmentSecondary data It is been collected by individuals or agencies for purposes some another(prenominal) than primary query.Internet sources-Internet search tools the exchangeable Google and yahoo can help to find specific sites which are full-bodied in culture. Discussion groups, post to a chat room or news groups can help to find secondary data.Wikipedia It helps in affectionate and undemanding search of relevant education through a thump of Google searches. It is great for finding out basic explanation of something very historic.Scribd-It is worlds largest neighborly reading and publishing company. Information and original written content are shared across the web and mobile devices.Non internet sources-Library-Periodicals (Magazines, Journals and Newspaper) art materials which are published at regular intervals.Questionnaire They are very cost effe ctive as compare to face to face interviews. These are easy to analyze.Wikipedia helps in collection of quantitative data which can be instrumental in market research. As Scribed connects people with the learning online market research will be helpful for market planning. Library contains current information which helps to translate trends into marketing opportunities. Questionnaire reduces biasness. And thus Wikipedia and Scribed helps in providing necessary information and questionnaire and program library serves a way towards the research and therefore these sources sours the important aspects in drawing off marketing plan.TechnologicalFunds for research.Potential of innovative ideas. colloquy and information.Communication across the globe.Buying mechanism of end users.DemographicLifestyleAdvertisement and sales onward motionConsumer purchasing patterns.Brand, Company image.Difference in consumer opinions.Media views.Age. take of education.Social class.Family.EconomyIndus try factors.Issues regarding m one and only(a)y/International trade.Exchange and amour rates.Trends from home economy.Market cycle(2011, Business balls)Conducting marketing research and call demandFuture demandToothbrush being a daily goodness of necessity special worry. Bic Corporation has decided to perform and understanding in the form of a new product Joy-Top. Brushing are teeth twice a day is a major part of our daily lives, everyone wants to have a beautiful smile but brushing teeth twice a day does not mean any difference so Joy-Top with enormous features estimates the capacity of 150 million toothbrushes to be sold per annum.. Thus estimating a payoff of 12.5 millions monthly.Marketing effectivenessIt is the quality of the marketers to go to the market with the goal to achieve good results for both bypass term as well as long term. An increase sale is a goal of marketing but it is a measurement of the effectiveness of the entire company.Awareness-Effectiveness can b e through website visits, traditional media mentions, and social media mentions etc.Loyalty marketing-Customer gaiety, retention etc.These can be effective measurements to marketing effortsCreating customer value, satisfaction and loyaltyCustomer satisfaction is a measurement of product and go supplied by the company to act end user satisfaction. Measurement provides an indication of the organization been good at providing products/services to the market. (2011, En.wikipedia)Measurement1ReliabilityPerformanceProduct be given2Quality of communicationQuality of tolerateingFlexibilityReaction timeRepairing qualityInformation, supportAvailabilityQuality of delivery serviceQuality of piece handling43Analyzing Consumer MarketThe process of selection take hold using disposing of ideas, services, and goods in order to satisfy unavoidably and wants by individuals, groups and organization is consumer behaviour. (2011, scribd)Factors affecting Joy-TopCultural factorsCulture There a re distinct taste and manners which are being seen throughout the world. Toothbrush, the daily routine commodity is used by one and all. Now the people residing in non-homogeneous parts may prefer to use polar paste which may or may not be suitable for our product.Subculture This culture mainly helps in fragmenting the market into various small proportions. It consists of unlike religions, geographic regions, racial groups etc. The needs of this detail group depend upon their lifestyle. Thus topical anaesthetic advertisement will affect the bargain foring behaviour for Joy-Top.Social class These are the people determined by occupation, income, education, family background and location. The purchase behavior of them will be according to their piece of earning. They may prefer consumption their single penny for other useful things.Social factorsReference groups These are the people pursuing special talent to convince people for the particular product so as to increase t he customers. Thus by providing serviceable benefit of Joy-Top can help to increase the influence.Family-The member of the family is most influential thus the berth of the members are very important for example- If the buying conclusion of a particular product is influenced by elderly people therefore the advertisement will be bunsed on them.Roles and status-There are different roles and status of a soul in the society for example- A man working in the organization as a manager will play the role of manager as well as a father therefore buying decisions will be influenced according to his role and status.Personal factorsAge-Joy-Top is basically for youngster and above. Consumer changes the purchase of goods and services with the passing game of time. Thus as the age increases there will be different consumers within the range.Occupation-Joy-Top is best suitable for travelers and people having high lifestyle.stinting situation-This trendy toothbrush focuses on all people havi ng different economic situationsLifestyle Joy-Top is a product which will help person to express their style in the surrounding.Personality-Different features like self confidence, confidence etc can help to buy our product.Psychological factorsMotivation-Joy-Top can be a motivating factor so as to satisfy the needs of the consumer.Perception-To set a better perception customer attention is necessary towards the product.Beliefs and attitude-By sending special break aways, customers attitude can be made positive.(2011, Business.ezinemark)Research toolsThe different research tools are asOnline marketing service-Online study becomes premier data collection method for customer satisfaction research. Online research surveys are generally appropriate for customer satisfaction because data collected is quality as well as quantitative.Focus group research-It is useful as a way to privately connect with buyers and observing their expressions and body language as they speak almost the product and brand name.Competitive intelligence-This is any information about competitors which is helpful for obtaining their strategies, strength, weakness and resources.Go to market plan-This plan includes live market test, advertisement campaign which helps in understanding buyers attitude and behavior.Consumer buying rolesConsumer buying roles relevant for Joy-Top areInfluencer Helps in viewing influence betwixt buyers and deciders.Buyer Holds formal authority to select their products.User-User of the product.Gatekeeper-Controls information s and helps influencer and buyer.(2011, provenmodels)Stages of buying processNeed-Low cost and sales progressions like coupons, product samples can create the high need for the product.Collection of information-Information can be collected through the sources asPeople (Friends, relatives, family etc)Product (details)Advertisements(Print ads, television etc )Experiment(Using the product)Purchase decision-Price, product, worldly concern relations can be the factors which can be consider while having buying decision.Post decision-Physical evidence and price can be the market activity so as to confirm satisfaction to the consumers(2011, openlearningworld)Identifying market segments and sharpensMarket segmentation-This helps in identifying small portion the market which is different from one another. It helps customer agreeable their need.Consumer market segmentation-Psychographic or behavi viva voceistic are the most suitable variables to segment our consumer market.Psychographic segmentation-In this segmentation customers are group according to different lifestyles. Variation in interest, activities, attitude, values, opinions etc helps to choose product differentlyBehavioralistic segmentation-Customer behavior towards product varies due to usage rate brand loyalty readiness to buy occasions this is direct starting point for market segmentation.Business market segmentation-The market customers are fewer in human activity and purchase larger quantities. There decision process involves more than one person like manufacturers, government, institutions etc.Behavioral characteristics-This is suitable as it includes different buying status, purchase procedure and usage rate.Company type-Company type includes industry, company size, and decision making unit.(2011, netmba)Evaluation of attractiveness of market segmentation draw will be evaluated as followsSegment competition.Brand loyalty.Number of customers.Customers growth rate.Expected profitTarget market selectionBic Company pursues selective specialization as this is multiple segment strategy for example- Lighters, shavers mainly target youth and above while stationary are targeted to all segments likewise Joy-Top targets youth and above.(2011, netmba)Dealing with competitionStrategic groupBig business is the strategic group for Bic Corporation. It includes business men, managers, employees, workers and many a(prenominal) other similar grou ps in Bic Corporation.(2011, slideshare)Best companies in the manufacturing of toothbrushButler gumBreath repairColgateCrestDentekDr. FreshGlideGripitJohnson JohnsonMentadent viva BPlak smackerReachSonicareSulcabrushOral B is a worldwide market leader which targets children and adults. Their brushes are used by most of the dentist worldwide.(2011, Oralb)ObjectivesThe main objective is to provide maestro quality and services which improves the life of worlds consumers. Thus consumer will reward them with leaders sales profit and value creation.(2011, pg)StrengthIt focuses on five core strengthUnderstanding consumers-Fulfills the need of consumers.Innovation-Translates desire into new product.Brand peeing-Shapes purpose inspired brands.Go to market capabilities-Reaches consumers, retailers at the properly time, at the decline place.Scale-Drives consumer value and efficiency.Competitive intelligenceCompetitive intelligence is defining, gathering, analyzing about products, custome rs and competitors. spare competitive intelligence which is required to have the complete cognition of market leaders areCompetitors Ads-Clipping competitors ads will be helpful in accumulate market material used by competitors.Competitors brochures-This helps to check out the marketing strategies, format, special offers, pricing, the key benefits and clues to the marketing segment which may be underserved. brain-teaser shop-Mystery shop is genuinely to buy their products r services so as to experience the purchases process.Internet-Major search engines can help in gathering information about them. This also helps in visiting their websites which can give important clues. (2011, Gordon)Newspapers-Newspapers can also provide major information about the market leader.Competitive strategyBic Corporation being the market challenger needs to gain the market share and become the leader. This can be done by attacking the market leader, other firms of the same size, smaller firms. facad e attack strategy will be the most effective for Bic Corporation by providing quality, price with low cost.Setting product strategy effect benefitsCore benefits are the benefits which are being enjoyed internally as well as externally some of them are as followsJoy-Top can provide long term care.It is flexible as well as durable.Joy-Top provides oral hygiene in low cost.It helps in avoiding gum diseases.Outer sideslip of the toothbrush will avoid contact with roots as it is a germ unloosen case.Joy-Top is a toothbrush cum toothpaste. So travelers need not to take paste along with them.Augmented productBic Click one of the New Zealands favorite retractable ball pen.Sturdy pocket clip.1.0 mm medium ball diameter.Ridges on barrel for better writing procurable in colors Blue, Black, Green, Red.(2011, au.bicworld)Developing pricing strategies and programsPricing objectivesTo maximize long run profit as toothbrush is never ending demand.To obtain a target rate of return on sales so as to achieve profit.To get competitive advantage.To enhance the image of Bic Corporation.To increase sales volume.As toothbrush being easily available commodity customers are not likely to be price sensitive. As Joy-Top is a low cost product demands will be elastic.Pricing decisions inborn factors Product pricing depends heavily on the productivity of operating facilities. change magnitude productivity can reduce the cost of exertion of each product and thus allows the marketer to lower the product price.External factors-There are number of influencing factors which are not controlled by the company but will have the impact on pricing decision. Pricing decisions changes due to following grab of demandCustomer expectationGovernment regulationCompetition and other products(2011, know this)Promotional pricing like 20% less of the actual price would be adapted by Bic Corporations.Designing and managing value networks and transmitMarketing flowsPhysical flow-In physical flow manufactur er, transporters, and warehouses will directly portion to customers.Title flow-Title flows from supplier to the manufacturer then dealers and finally to the customers.Payment flow-Payment is get by customers then to banks-dealers-banks-manufacturer-banks and finally to suppliers.Information flow-Information flow from suppliers to transporters, warehouses, banks to manufacturers and from manufacturers to transporters, warehouses, banks-dealers-transporters, banks-customers and vice-versa.Promotion flow- It flows from suppliers-advertising agency-manufacturers-advertising agency-dealers-customers. discriminating distribution is the most appropriate distribution as it works in normal pattern where sellers stock the product in consumer as well as in business market.Managing retailing, Wholesaling, LogisticsTypes of retailersThe most appropriate retailers aredepartmental stores-They bear a resemblance to a collection of specialty stores and offer considerable customer service.Advantage s-1. Cheaper price than of special shops because of bulk buying.2. Large range of goodsDisadvantages-Lower quality of service as compared to special shops.Supermarkets-Supermarkets sell for the most part daily products as well as food products.Advantages-Sometimes cheaper than other shops.Quality is often assured hereDisadvantages-Generally prices are higher. renewal stores-These offer extremely low cost goods with limited selection.Advantages-Convenient able to compare product price and features.No pressure to buy.Disadvantages-No manipulation of retail shopping.Privacy and security issues.Product category risk.Too many choices.WholesalersThey are the people selling service to the third party who in turn sells the products to their customers.Wholesalers are referred as decision support system for production and distribution. They propose an optimization model to satisfy the best service at low cost. There decision support system is developed to build different aspects and suitabl e models for selling. (2011, article alley)Market logistic issuesThe product has to be delivering at the right time for the right place in right condition. Outsourcing and considerable values are the functions to be performed by logistics.A essential knowledge of materials, foreign exchange, custom regulations, purchasing, transportation, and information technology and supply range of mountains management is required.(2011, bestlogisticsguide)Designing and managing integrated market communication theoryAudience targetedBic Corporations would target unintended audience as Joy-Top is a daily routine commodity and is used by one and all.(2011, everything2)ImageBic Corporations need to attract more customers and client. Thus Bic Corporations is focusing on trustworthy business image. Although, Bic is successful in maintaining trustworthy image through the products like pens, shavers, lighters, thus they tend to serve more customers.(2011, sbinfocanada)Objective of communication campa ignThe basic objective of the campaign is to educate the public. The goal of the campaign is to build peoples confidence in dental hygiene and to ensure a smooth product.The campaign would consist of free dental check-ups and thus the need of Joy-Top will be sh consume.Campaigning would consist of distribution of brochures, free samples and advancemental products.Promotional toolsIn Store promotion-This influences the consumer decision making process at the particular moment. A grant of purchases are made by impulse buying.Trade fairs-This tool helps in export promotion and also an expensive tool.Advertising-Advertising is directly targeted to the plumping audience and end users. It is also targeting the players in distribution channels, importers and wholesalers.Internet-Internet offers pageant possibilities and advertisement space. Catalogues, brochures, company profile can be digitalize and dress on the web. It is an economic and flexible option.The corporate brochure-Materi al and print used are of superior quality and thus A3 sizes of papers are used to provide required information.(2011, infomipyme)Marketing communications budgetThe budgeting process helps in determination of the realistic plan for profit margin 10-20% gross revenue is projected to marketing and communications.4% on the purchase of advertisement and promotion media including internet, TV, newspaper.+2% producing and printing all communications including newsletters, brochures etc.+1.5% producing special events.+2% promotional products+3.5% salaries, consultants and independence.=13% Total percentage of Bic budget going to communications and market(2011, getting attention)Managing mass communication Advertising, sales promotion, event and public relationsJoy-Top being a new product needs attention in the market. Advertisements will help the consumers to know about the product and the services without advertisement there are chances of bad word of mouth and postiche visual clues. (201 1, fiscalcrisis2009)Advertising goalsGoals are very specific. Generally advertising goals are made to increase sales. It increases knowledge and awareness. Thus advertising goals areTarget market to achieveCorporate imageEmphasis on Joy-Top monetary expenditureRight time of advertisementSmile to the fullest and make this world a better place to live in -a message with Joy-Top reveals. idiot box and internet are most appropriate media as these media are the best ways to express this message.PromotionConsumer promotion is to stimulate sales by influencing the end consumers. Bic Corporations mainly focuses in serving end users. Thus consumer promotion is the best option.Promotion of public relationBic Corporations being a brand name already sustains a good corporate image in the market. Promotions are being done using advertisements rather than public relations.Managing personal communications Direct marketing and personal sellingDirect sellingDirect selling is basically marketing and selling products, directed to customers from indomitable retail location. Bic Corporations prefer direct selling force as it has its own advantages which are as followsThere are more opportunities to meet new people.Internet helps in increasing sales tremendouslyAn unlimited make out of money is been expected to be earned(2011, improvingyourworld)Selling activities should focus on professional sales people who are well trained and ethically responsible.Sales objectiveTo develop a strong personnel birth with the customer in order to be successful.A special adroitness which is not generally seen in common people.Role of E-marketingInternet plays a very important role in every aspect of product life cycle. It delivers the highest value during the growth and maturity. The medium of searching makes internet an exemplification platform for informing sharing and educating.Primary goal of internet during launch is to create awareness, encourage trial and build a brand.Online brand gr ammatical construction and awareness can be cost effective to serve consumers because the target audience can be naturally drawn to specific online information(2011, lewis)Sales RepresentativeThe biggest challenge for a sales representative is time and territory management. Some strategy requires selling Joy-Top isThey should have complete knowledge of Bic Corporations and their product.The person should be a good communicator and influencer.The representative must know the product.The representative must maintain customer contacts in order to get feedbacks, to know new trends and to have new customers request.(2011, llc)Executive summaryBic Corporations is a manufacturing company dedicated to low cost, innovative and disposable product. The company has production line as pen, lighter, shaver. The company was formed in 1945 and has 2700 employees. The company intends to become a manufacturer leader by expanding and adding to its product line. Thus a new daily base commodity (Toothbr ush) has come into consideration.ReferencingAnonymous., 2011. 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