Marketing Analysis Of Hair Care Product Shampoo Essay.

Discussion

The primary purpose of this essay is to analyze and describe the marketing activities which is related to the launch of a hair care product. In this essay, the market research pr study for the product "Shampoo" has been studied. Hence, market research is a process of ascertaining or establishing the viability of a product with the help of direct customer study. This essay mainly focuses on the brief description of the product and market analysis for this product shampoo. Furthermore, a strategy has also been set for the product's STP (Segmentation, Targeting, & Positioning). Additionally, the marketing mix or strategy for this product have also been provided in the essay. Lastly, a conclusion has been provided based on the overall analysis and discussion mentioned in the essay.

The shampoo is a hair care product that is mainly in the shape of viscous liquid, utilized for clearing hair and is available in the format of a solid bar. It is utilized by implementing it into wet hair, manipulating the scalp, & then rising it. Some consumers may obey shampooing with the utilization of a hair conditioner. Specialty shampoos are promoted and advertised to people with dandruff, gluten, wheat allergies, or colour-treated hair interested in utilizing an organic product, young children, and infants. Hence, there are shampoos planned for animals that might include insecticides and other medications in order to give skin conditions and parasite infestations like fleas. Hair shampoos fight oiliness and dryness and relieve irritation and itching. It keeps the hair blossomed and beautiful and, in the market, shampoos are also for women and men. The hair care product that the business has launched is being projected as the product that would cover all the requirements of its users. A famous slogan for shampoo has also been made in order to project a vibrant brand image & generate awareness in the entire market. Its hair care product contains a wide variety of different shampoos, designing products & conditioners under its portfolio of products. Some of them include Black Shine Shampoo, Anti-Dandruff Shampoo, Hair Fall Shampoo, Dream Smooth and Soft Shampoo, Hair Fall Shampoo, and Long & Thick Shampoo.

Therefore, all the alternatives are connected with authorities who have professional experience with respect to hair. A shampoo must clean all the dirt and oil, leave the hair shiny, flexible, and manageable, and rinse out quickly. Furthermore, its products are considered natural when it is a sulphate-free and contains plant-based & organic ingredients. The shampoo frequently includes essential oils, botanicals, certified organic, and fruit extracts ingredients. Hence, the commonly used ingredients in the shampoo are ammonium chloride, glycol, sodium laureth sulphate, citric acid, sodium lauryl sulphate, and many more. Moreover, the shampoo also has crucial haircare advantages such as strengthening weak hair, preventing hair breakage, softening rough hair, & replacing it with an anti-dandruff shampoo. Emphasizing the essential mission of making eruptive solutions for women everywhere, the shampoo has brought its affection and knowledge to help customers with healthy and fine-looking hair, all because of its products.

STP Strategy

Nowadays, shampoos are used by more than 83.4% of the population, though there was little loyalty to the brand, and it wasn't easy to generate any. The hair care products market was heavily affected by the evolution of technology and consumer habits. In F.Y. 2020, the market size of the hair care product (shampoo) was around USD 75.06 billion globally, and the influence of coronavirus pandemic has been staggering and unprecedented, with a hair care product observing a negative requirement shock around all regions and the pandemic situation (Kotler et al. 2020). On the basis of market research analysis, it has been observed that the market would show a reduction of 4.63% in the financial year 2020. Hence, the market is protruded to expand from around USD77.15 billion to USD112.97 billion (2021-2018) at a CAGR of around 5.6% throughout the F.Y. 2021-2028 period. However, a sudden increment in CAGR is attributable to this growth and demand of the market, reverting to pre-Covid-19 intensities once it is over. Hair maintenance products assist women and men in upholding their cleanliness and health and guarding them against any damage.

In addition, the hair care product (shampoo) is utilized in nourishing the hair and are available in various forms like liquid, gel, lotion, and cream. Different products are available in the market for different apps varying on the hair type. This contains shampoo for oily and dry hair and various shampoo for curly hair and coloured hair. Product innovations are the essential driving factors in the market, and the sector has experienced an unfavourable influence during the coronavirus pandemic. Hence, this is mainly ascribed to the shop's shut down because of lockdown, maintenance of controlled store occupancy, & consumers being aware of getting affected by touching packaging. The increasing trend of possessing coloured hair among the youth population is anticipated to increase the demand for colours and dyes, particularly females. Besides, the increasing trend of owing long hair & the adoption of numerous hairstyling between men has caused the consumption of hair styling products (Ghuman and Merchant 2018). Therefore, this is predicted to contribute to hair care growth globally throughout the forecasting period. Whereas on the other hand, the men are also experiencing hair issues like hair greying, hair loss, and dandruff that are possible to rush the utilization of a hair care product.

Additionally, the aging people being weak to the hair problems compared to youth generations are more likely to rush the products demand. On the basis of hair care products, the preference of consumers is shifting towards herbal and organic because of increasing awareness with respect to adverse influences of chemicals utilized on the environment and the health, consequently intensifying the consumption rate. Additionally, the key players running or operating in the market gradually emphasizing on launching and developing new products in order to meet the diversified consumer demand on the basis of culture, ethnicity, and geography have played a vital role in the global industry growth (Hanssens et al. 2018).

Marketing Mix

STP marketing is also known as a three-step model: Segmentation, Targeting, and Positioning that examines or analyses the services or products and how one communicates their advantages to particular customer segments. Modern marketing refers to a familiar aspect and is a frequently applied marketing model, with the marketing leaders accepting it for practical, streamlined communications practice. This model is quite beneficial while generating a marketing communications plan as it assists marketers to select propositions & then develop & deliver relevant and personalized messages to involve various audiences. However, the business utilizes a mixture or combination of geographic, psychographic, and demographic segmentation variables in order to comprehend the altering requirements of the clients and address them appropriately. It utilizes differentiating targeting strategies in order to make the shampoo available to the client appropriately according to their choice or preference.

Moreover, it also utilizes and benefits on the basis of positioning strategies so that it can increase the care & hair awareness between the potential clients & to be their preferred hair care shampoo. Recently, shampoo has turned out to be compulsory for women who assume the hair length they own. Being a brand that proposes shampoo, the business targets individuals who provide more significance to haircare products than makeup. It also targets women who are in the age between 18-45 years as its primary target segment, but on the other hand, it also delivers different product segments to men also (Firmansyah 2019). The shampoo also targets its spectators varying on the buying of consumers, people purchasing power, and income level. The business segmented the market on the basis of Intermarket segmentation. But it segmented the market on the basis of geographic segmentation for promotion, sales efforts, and promotion. It divided the segment into three groups that are Asia pacific countries, European countries, and middle-east countries. Hence, promotion, sales efforts, and advertising must be different in those segments. Initially, they launched black silky shine shampoo mainly for the higher-class people & middle-class people and then, they launched mini-pack for a lower-class people.

Moreover, market segmentation discloses the shampoo's market segment opportunities, and, in this phase, the business had to measure the different segments and determine how many & which segments it may serve best (Kulikova 2019). The business primarily pursued the female segment & avoided the male segment. Firstly, it targeted pull segments of female consumers aged between 16-21 and female ages (22 to 40), but in the case of promotional activities, they mainly concentrated on all the female segments. Thus, the business targeted those segments as those segments were the profitable largest, & there was no aggressive and strong competitor. Moreover, the business utilized mass-marketing or marketing strategy, and they overlooked market segment differences & targeted the entire market with an individual offer (Chockalingam 2020). They launched five different products for the whole market and also targeted five segments & planned individual offers for every segment. In addition, they targeted and segmented their market extremely careful. They provide the customers with more advantages with a similar amount of price.

Conclusion

The marketing mix is the tactics or set of actions that a business utilizes to promote its product or brand in the entire market. It includes numerous focus areas as a part of the comprehensive marketing plan. Thus, it is explained as utilizing a marketing tool that unites various components to become harden & solidify a product and assist in selling the service or product (Michelsson 2021). However, the companies with product based need to come up with new strategies in order to sell or advertise their product. The components of the marketing mix consist of product, place, price, and promotion. Hence, in the business industry, the managers of a marketing plan or design a marketing strategy while considering all the four components of the marketing mix. Nowadays, the 4Ps of the marketing mix gradually contains many other 4Ps with respect to vital development and growth (Islam et al. 2022).  

The business includes a broad range of shampoos under its portfolio of products. Its product was introduced and recognized as a shampoo in the market that required just one individual application for thriving hair cleaning and washing (Islam 2018). It is a global shampoo with respect to hair care products and has a broad product portfolio in its marketing mix. It has entered into the segment of hair segment by representing shampoo, and with respect to this, the business has presented different products in order to provide for different kinds of hair (Vijayalakshmi and Gurumoorthy 2019). Thus, its shampoos are also available in different SKUs & it is packaging also modifies over time. Currently, the business has positioned its shampoo as one of the famous brands consulted by professionals and has numerous alternatives (Adhawiyah 2016). Now shampoo faces many competitions in comparison to other haircare brands. The business offers solutions and products for different hair types such as dry hair, weak hair, rough hair, and those facing problems from hair breakage, oily hair, dandruff-prone hair, and dry hair. However, it offers its shampoos in different quantities and packages, available in bottles of around 80ml, 650ml, 340ml, and 175ml. In addition, it also proposes different sizes in sachets, and its product has protein & claim to decrease hair fall.

Furthermore, the business has targeted families because the market is separated with various products and firms with innovations and products almost coming in regularly. It is not simple to live against direct and indirect competitors in today's environment, and the business is in such an elastic condition. It implies that an increment in the price would directly influence the demand of the product and lead to the benefits of competitors. Thus, its pricing policy mainly relies on different factors such as actual costing, demand situation, product quality, competitor's prices, and market supply. In its marketing strategy, the business also utilizes a methodology of value-based evaluation during which the cost is decided while keeping in mind the perception of users. The pricing strategy, together with the strategy of aggressive marketing, has enabled the business to recollect its positions as the market leader globally in a haircare product. Additionally, it has also adopted the "promotional pricing policy" & offers several discounts and incentives to inflate its sales figures. Hence, it has caused an increase in revenue and sales.

The business catches the customer's eye with the bright packaging it has. Furthermore, the visibility and availability of shampoo are pretty high because it is available in every store, convenience outlet and retail shop. On a big scale, the shampoo is available in more than 80 countries & has a leadership position in many countries like India, Sri Lanka, Indonesia, and Thailand. Moreover, there is also an individual team in order to handle the segmentation. Hence, as a market is spread and huge across geographically, the network of distribution is quite extensive and exclusive. Apart from a traditional aspect, stores are maintained in order to account for such requirements, and the primary place of sale of shampoo is from the warehouses and grocery stores.

Lastly, the business always focused on aggressive promotion and marketing. The business adopts the general way of promotion via newspapers & other print media and television advertisements. It has also launched its product online, which has aided in inflating the brand awareness between the target group, and this initiative ended up obtaining media coverage. Furthermore, it has also looped in experts and professionals for generating shampoos which assisted in identifying the quality of the shampoo. It is also involved in marketing and advertising its products or goods, which has assisted the shampoo brand in accomplishing its current status. Hence, the interactive website also assists in inflating the user engagement from the potential customers, concluding the shampoo marketing mix.

Conclusion

Based on the above discussion, it can be concluded that marketing strategy assists in discovering or determining the areas influenced by the business growth and thereby assists in generating a business plan in order to provide to the needs of customers. However, it assists in fixing the correct price for the business's services and goods on the basis of information gathered by the marketing research. An efficient marketing strategy assists in defining clear, measurable, and realistic marketing objectives for the business. The marketing strategy influences how a business runs or operates its operations, so it must be developed and planned in consultation with the team. While on the other hand, the marketing mix assists in understanding what the service or product might offer to the customers. It also assists in planning a thriving product offering. The marketing mix assists with planning, executing and developing efficient marketing strategies, and businesses utilize their strength and always try to avoid unnecessary costs.

Haircare products are incredibly competitive. Constant or steady innovation is essential to push businesses to market leadership positions. Hence, due to market saturation, differentiation has turned out to be a considerable teamster for development and growth. Identifying these trends, the product line of hair care (shampoo) is prepared for development & growth. Initially, there is quite a complexity with respect to entrance into the market. Switching prices are low, & loyalty to the brand is high. Hence, no product line concentrates on the non-chemically spoiled hair and by covering these customers' requirements, growth would be accomplished. Launching a new shampoo is an expensive venture, and discounts should be given in order to save shelf space, & time needs to be moved from the current sales representatives in order to push the product. If it is popular, then the returns may be highly considered. Currently, the hair care product (shampoo) has recognized a void in the market. The anticipation outlined in a marketing plan draws a strategy of implementation as no product line focuses directly on this marketplace; the primary mover benefit may assist in securing the considerable market share.

References

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Firmansyah, M.A., 2019.The Effect Of Advertising And Product Quality On Purchasing Motivation Of Consumer On Shampoo Product In Surabaya. Media Mahardhika, 18(1), pp.39-45.

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