New User? Start here.
Error goes here
As a marketing consultant, I have prepared this report to provide a detailed marketing plan for Colgate Company's product- Colgate Strong toothpaste. The marketing plan covers the market segmentation and targeting, perceptual map and market differentiation, marketing mix and the strategic fit. The marketing mix gives a clear description of how the product will be priced, distributed and promoted into the market while the strategic fit has explains the product's congruence to the company's strategies, which include sustainability, ethics, and CSR.
As explained by Hassan & Craft (2012), market segmentation refers to the practice of dividing the potential customers into distinct groups, with similar needs. The marketers must always evaluate the buying habits of clients and their specific interests and attitudes about particular products when segmenting the market, (Palmer, Simmons & Mason, 2014). Market segmentation may take demographic, psychological, geographic or behavioral basis.
A market target typically entails a group of individuals with similar market needs that a company intends to satisfy. Market targeting is, therefore, an activity conducted by an entity that aims at directing its capabilities to a relevant market section, (Virani, 2013). A company must evaluate its key competencies regarding the availability of market offer and its ability to distribute the particular market offer to the relevant target market, (Grewal, Levy, Mathews, Harrigan & Bucic, 2015).
The most useful target for Colgate Strong Teeth toothpaste brand would be the 1-12-year-old kids due to the following reasons.
Geographic segment entails people in the same area of residence. This may be same state, country or community, (Buil, De Chernatony & Martinez, 2013). It describes the location of the customers.
The target kids are 1-12 years. They live with their parents, in the rural and urban areas. Their parents are middle-income earners and are entirely concerned with the health of their children's teeth. Occasionally, the kids drink salty water and suffer from tooth decay. The parents like shopping in the nearby canteens and retail stores. This forms a better segment for the company as Colgate Strong toothpaste will be available in the supermarkets and stores for them to purchase.
Demographic segmentation divides the market according to the nature of the population. The population may consist of the aged, youths or women, (Mintz & Currim, 2013). The life cycle of the population must also be considered, (Mintz & Currim, 2013). The kids stay with their parents. Some of them are currently shedding their teeth and therefore have weak gums and some gaps in their teeth. They are therefore vulnerable to gingivitis and other gum infections. Their mothers are entirely concerned about this. Some also go to school and are occasionally told to do modeling. They put modeling clays in their mouths and sometimes expose them to bacteria. Their mothers are acutely aware of this and are committed to making their teeth look healthier.
This type of segmentation uses the nature of lifestyle and behavior of the population to partition the market. Behavioral segmentation relies on the behaviors of specific consumers, (Jain & Jain, 2012). This can range from purchasing practices to attitudes and status, (Goi, 2015). The acquisition of a product by a consumer could depend on occasions, user rates, and readiness stage.
The mothers of the kids are acutely aware of Colgate Company, and that its products are reputed in the market. They are therefore ready to purchase any of its products provided that it is in congruence with their needs.
Market positioning primarily refers to the consumers' perception of a specific brand or product in the market about competing goods and brands. It is the process of establishing the identity of a brand so that customers perceive it in a particular way, (Armstrong, Kotler, Harker & Brennan, 2012). Brand positioning, on the other hand, is a strategic process that entails marketing of the particular brand of a product in a certain way so as to create its identity in the market, (Goi, 2015). Market positioning enables organizations to win customer loyalty for their products. When customers develop loyalty to the particular product, it means that they will be motivated to purchase it, (Goi, 2015). The company will, therefore, obtain a competitive advantage over its rivals in the industry.
Colgate Strong toothpaste is a well-established brand which is offered in the market at a discounted price. Its clear quality makes it the consumers' best option. The company offers special discounts to the customers who purchase this product. It also forms the best toothpaste in eradicating gingivitis, bad breath, and cavities. These qualities make this product to obtain an added advantage against its competing products.
A perceptual positioning map can be used to develop a market positioning approach for Colgate Strong Teeth. Perception maps are always based on the perceptions of the buyer, (Wood, 2012). The following is an illustration of the positioning map for Colgate Strong Teeth toothpaste using two variables- price and quality.
Colgate strong toothpaste is particularly different from other products. It has a uniquely attractive packaging which makes customers to identify it quickly from the shelves of supermarkets and retail stores. It also has a strong branding which makes the customers to just imagine the quality. Its name “Colgate Strong toothpaste” actually demonstrates its augmented function, which is to ensure consumers obtain the strong teeth they desire. Differentiation enables a firm to be easily identified by its potential customers, (Khan, 2014)
Dear parents, Colgate Company, provides your kids, aged 1-12 with high-quality toothpaste that truly ensures they have strong teeth, free from cavities and gingivitis, than any other company in the industry. We do this by offering discounts, ensuring the continued quality of our products and matching any other prices in the industry.
A marketing mix explains how the product will look like, the value attached to it, how it will be sold and where it will be sold. It consists of 4ps- place, price, promotion and product, (Grewal, Levy, Mathews, Harrigan & Bucic, 2015).
Product refers to what a company offers to the customers in the market. It may be informed of a good or a service, (Goldsby, 2015). After carrying out the whole process of manufacturing and making the product ready for the market, a company would always formulate strategies that would enable it to sell the product adequately, Shimp & Andrew, 2012). A product may be identified in three levels- augmented commodity, actual product and core commodity.
Augmented product: This consists of the nonphysical part of the commodity. Usually, it entails the added value for which a customer would be willing to pay a premium, (Khan, 2014). The inclusion of additional features ensures that the product has an added value against its competitors, (Singh, 2012). For example, Colgate Company has produced the Colgate Strong toothpaste, which has a strong capability of protecting the tooth against plaque, cavities, and gingivitis. It is not just toothpaste but toothpaste with unique capabilities of ensuring healthy teeth. This differentiates it from other toothpaste which cannot offer dental treatment. The customers will, therefore, be willing to pay additional amounts to obtain this product.
Core product: This is the hidden value of the product that makes it valuable to the consumer. The core product is not tangible but refers to the actual benefit the consumer is buying, (Sharma & Lambert, 2013). The core product of this company is something that ensures clean, strong and healthy teeth. The customer is, therefore, purchasing for the safety of teeth and mouth.
Actual product: this is the tangible physical product. It is the Colgate toothpaste that the client goes to the supermarket to buy. Colgate Company offers several brands of toothpaste. One of them is the Colgate Strong. Toothpaste brand. The customer can, therefore, walk into any supermarket or retail shop and pick a Colgate Strong toothpaste.
Colgate Strong toothpaste
The product is of high quality and provides proper dental care.
It has been uniquely designed to for kids who may have weak teeth, brown teeth, and dental problems.
It has a unique taste and Colgate smell which acts as its identity.
It has a strong brand name enshrined on its packaging. The brand name is so conspicuous that customers cannot leave them on the shelves unnoticed.
The package has been accurately labeled to avoid any confusion.
It has been packed in a biodegradable box. The box is also large enough and unique making the customers to identify it quickly from a group of other toothpaste.
Price is the value attached to a product. A company may use different approaches so as to set appropriate prices for their products, (Chikweche & Fletcher, 2012). These methods depend on whether the product is new in the market, whether there is competition or whether a company needs to penetrate the market value the quality of their products, (Shimp & Andrew, 2012).
A relationship based pricing mainly majors on creating long-term relationships with the customers. Firms which adopt this pricing technique offer a lot of promotions geared towards improving the relationship with their clients, (Moideen & Screeranganadhan, 2013). Long-term relationships are gained through adopting this strategy. This may lead to customer loyalty.
Cost based pricing majors on reducing the cost of the products to make them more affordable to the customers. In this case, customers derive satisfaction from their ability to purchase more for less, (Goi, 2015). Companies that adopt this strategy are always price leaders in the market, (Khan, 2014). This approach may be achieved by adopting cost leadership strategy.
On the other hand, value-based pricing ensures that consumers derive the value for their purchases. Colgate Company is old-established. Its product Colgate is also established in the market. Therefore, cost-based pricing is not the best as the company has stabilized and did not need penetration strategies. It, therefore, uses value-based pricing, whereby, the product is of high quality, and the clients purchase it at a relatively high price and derive satisfaction from obtaining quality products. Value based pricing enables customers to obtain the value of their purchases, (Wood, 2012). It is mostly appropriate for real income earners, who tie value to price, (Shimp & Andrew, 2012). Some consumers always view highly rated products to be of great value. These are the primary targets of Colgate.
This encompasses how the particular products will reach the customers. It is the mode of distribution that would ensure consumers get the goods at the right place, time and in a desirable condition, (Sigh, 2012). Colgate toothpaste is a commodity that is used daily by the clients. For this reason, the company may use an extensive distribution. A distribution channel should be flexible and economical, (Armstrong, Kotler, Harker & Brennan, 2012). Colgate product can be distributed to supermarkets like Wal-Mart, Walgreens, and Albertsons. The product is also physically located in the oral health isle storage points. The product is well distributed via a supply chain of the entity’s distributors, to the wholesalers to retailers and finally to the final consumers as shown:
According to Virani (2013), conflicts among marketing channels are always generated when a channel member action prevents other avenues from attaining its objective. To avoid this Colgate follows the traditional distribution channels which do not involve the overlapping of different intermediaries. This ensures that there are fewer channel conflicts.
Development refers to the strategies used by the marketing team of a company to ensure they persuade their potential clients to purchase a particular product. It encompasses using effective means to communicate the benefits of a particular commodity, (Shimp & Andrew, 2012). When conducting promotional activities, the marketing team always aim at convincing the clients that their products are better than those of their rivals, (Wood, 2012).
The promotional strategies for Colgate Strong toothpaste would involve advertising, product giveaways and branded promotional gifts.
Advertising may involve the use of print media, televisions, radios internet, and the social media. Facebook forms an extensive advertisement areas for companies as most youths operate it, (Shimp & Andrew, 2012). This, therefore, forms an appropriate forum for the company to advertise the products.
Branded promotional gifts refer to giveaways that are tied to a particular brand. In conducting brand promotional giveaways, the company may give specially branded gifts to its customers whenever they purchase Colgate. This would entice the customers to buy more of the brand.
Product giveaways are in-store promotions conducted by companies. The companies give these samples to entice their clients to purchase the specific products, (Chikweche & Fletcher, 2012). Colgate Company may use this strategy to market its brand. Samples of Colgate Strong toothpaste may be given to customers to make them buy the brand regularly.
In this approach, the company promotes its products while supporting a cause or a community event. For example, the company may initiate community development programs and use these programs to promote their product, (Chen, 2012). The main benefit of this strategy is that the members of the community feel cared for and therefore develop loyalty to the company’s products, (Sigh, 2012). Colgate Strong toothpaste may be marketed using this method to realize sales increment.
This mainly entails obtaining feedback from the customers. Customers who are delighted by the company's product would give positive testimonies, (Goldsby, 2015). These declarations may be used for future advertising with the permission of the customer, (Mintz &Currim, 2013). In the case of Colgate, the company may call its clients through telephone, and ask for their feedback. This also forms a basis for future improvement of the product.
Colgate-Palmolive Ltd is fully committed to doing its business with respect and integrity. The company’s long-term sustainability approach is focused on three main areas: performance, people, and the planet. For years, the company has been dedicated to ensuring production of high-quality goods that delight its clients and have clear strategies in place to enhance oral health in the societies, to increase effectiveness and reduce energy use. The company’s values of global teamwork, caring and improvement entirely coincides with the idea of sustaining both the planet for generations and the business as a whole. In line with this, it, therefore, provides high-quality brands so that their customers may derive value from their purchases.
In line with its CSR report, Colgate offers high-quality brands so as to improve customer satisfaction. Customers, therefore, get delighted by its products. Colgate Strong toothpaste is a high-quality brand that enables customers to achieve more than just satisfaction, but a full value of their purchase. It is also enclosed in a biodegradable package that ensures conservation of the environment.
Armstrong, G., Kotler, P., Harker, M., & Brennan, R. (2012). Marketing: An Introduction. Pearson Prentice-Hall, London.
Buil, I., De Chernatony, L., & Martínez, E. (2013). Examining the Role of Advertising and Sales Promotions in Brand Equity Creation. Journal of Business Research, 66(1), 115-122.
Chen, S. C. (2012). The Customer Satisfaction–Loyalty Relation in an Interactive E-Service Setting: The Mediators. Journal of Retailing and Consumer Services, 19(2), 202-210.
Chikweche, T., & Fletcher, R. (2012). Revisiting the Marketing Mix at the Bottom Of Pyramid Bop): From Theoretical Considerations to Practical Realities. Journal of Consumer Marketing, 29(7), 507-520.
Goi, C. L. (2015). Marketing Mix: A Review of' P'. The Journal of Internet Banking and Commerce, 2005.
Goldsby, T. J., & Goldsby, M. G. (2015). The Four Ps of Green Marketing: A Critical Review of The Literature. In Proceedings of the 1997 Academy of Marketing Science (Ams) Annual Conference (Pp. 46-46). Springer International Publishing.
Gordon, R. (2012). Re-Thinking and Re-Tooling the Social Marketing Mix. Australasian Marketing Journal (Amj), 20(2), 122-126.
Grewal, D., Levy, M., Mathews, S., Harrigan, P. & Bucic, T. (2015). Marketing. Mcgrawhill, North Ryde, Nsw, Australia.
Hassan, S., & Craft, S. (2012). Examining World Market Segmentation and Brand Positioning Strategies. Journal of Consumer Marketing, 29(5), 344-356.
Jain, V., & Jain, A. K. (2012). The Mantra of Branding–A Case Analysis of Colgate Toothpaste In Dehradun India. Asian Journal of Business and Economics, 2(2.1), 1-12.
Khan, M. T. (2014). The Concept of 'marketing Mix' and Its Elements (A Conceptual Review Paper). International Journal of Information, Business and Management, 6(2), 95.
Mintz, O., & Currim, I. S. (2013). What Drives Managerial Use of Marketing and Financial Metrics And Does Metric Use Affect Performance Of Marketing-Mix Activities? Journal Of Marketing, 77(2), 17-40.
Moideen, A. K., & Sreeranganadhan, K. (2013). Promotional Strategies for Marketing to Rural Consumer & Tapping the Evolving Rural Markets: A Study on the Gold Ornament Market. Journal Of Commerce & Management Thought, 4(1), 22-37.
Palmer, M., Simmons, G., & Mason, K. (2014). Web-Based Social Movements Contesting Marketing Strategy: The Mobilisation of Multiple Actors and Rhetorical Strategies. Journal of Marketing Management, 30(3-4), 383-408. Doi:10.1080/0267257x.2013.818574
Sharma, A., & Lambert, D. M. (2013). Segmentation of Markets Based On Customer Service.
International Journal of Physical Distribution & Logistics Management.
Shimp, T. A., & Andrews, J. C. (2012). Advertising Promotion and Other Aspects of Integrated Marketing Communications. Cengage Learning.
Singh, M. (2012). Marketing Mix Of 4p’s For Competitive Advantage. Journal of Business and Management, 3(6), 40-45.
Virani, A. (2013). Consumer Personality Trait, Brand Persona and Brand Loyalty: A Pragmatic Study of Colgate Toothpaste Buyer. International Journal of Humanities and Management Sciences, 1(2), 155-158.
Wood, M. (2012). Marketing Social Marketing. Journal of Social Marketing, 2(2), 94-102.
To View this & another 50000+ free samples. Please put
your valid email id.
Earn back the money you have spent on the downloaded sample by uploading a unique assignment/study material/research material you have. After we assess the authenticity of the uploaded content, you will get 100% money back in your wallet within 7 days.
Get Moneyinto Your Wallet
Total 13 pages, 1 USD Per Page
*The content must not be available online or in our existing Database to qualify as
To export a reference to this article please select a referencing stye below:
My Assignment Help. (2021). Bachelor Of Business. Retrieved from https://myassignmenthelp.com/free-samples/mgb106-bachelor-of-business/marketing-team.html.
"Bachelor Of Business." My Assignment Help, 2021, https://myassignmenthelp.com/free-samples/mgb106-bachelor-of-business/marketing-team.html.
My Assignment Help (2021) Bachelor Of Business [Online]. Available from: https://myassignmenthelp.com/free-samples/mgb106-bachelor-of-business/marketing-team.html[Accessed 28 September 2021].
My Assignment Help. 'Bachelor Of Business' (My Assignment Help, 2021) <https://myassignmenthelp.com/free-samples/mgb106-bachelor-of-business/marketing-team.html> accessed 28 September 2021.
My Assignment Help. Bachelor Of Business [Internet]. My Assignment Help. 2021 [cited 28 September 2021]. Available from: https://myassignmenthelp.com/free-samples/mgb106-bachelor-of-business/marketing-team.html.
The respective sample has been mail to your register email id
* $5 to be used on order value more than $50. Valid for
We have sent login details on your registered email.
If you feel that your assignment's topic is too complicated, our experts can offer marketing assignment help at your beck and call. Just call us or fill up our online form with the requirements of your marketing assignment. We will assign a writer who has specialized in your field of study. We also offer assignment help at the best rates along with several discounts and freebies.
Commercialization can be considered as one of the most critical steps in the concept of the technological innovation. It can be stated that it is one of the most little well managed active of the whole process of the innovation process. The launch stage can be seen to be particularly crucial in the market of high technology. This is due to the factor that it is interconnectedness, volatility and the proliferation of...
Engineering leaders need to possess certain traits such that they can achieve their strategic outfits (Reeve, 2010). While there are several traits of good leadership skills, an effective engineering leader needs to include an action mindset. Emotional intelligence including empathy, social skills, self-awareness and confidence, self-management skills, communicating ideas and directions in a capable manner and being sel...
This report presents the different strategies for developing new product and services. It also evaluates the background of the company and defines the mission of developing new products. It explains the product and service offering by the Woolworths. It also discusses the porter five forces model to analysis the food retail industry. Moreover, it defines the competition between competitors in food retail market. It also illu...
Pure Gym will be having the alignment of all the functions with the strategic outlook of meeting the requirements regarding the customers. This assists in defining the role of the staffs in a more clear manner. Marketers are required performing meticulous research for uncovering the requirements as well as conveying the messages that will be explaining the beneficial aspects. Production should be focusing on enhanci...
Life is significant to a human being and ought to be preserved. Life isn't always sweet and smooth to humanity but is full of suffering. Euthanasia is the act third party help a person in suffering especially a sick person to die at the victim's own will. These can be by use of ending the life support means, giving them overdose, etc. in many countries euthanasia is illegal while others it is legal. This paper will look at the pros and...
Are you confident that you will achieve the grade? Our best Expert will help you improve your grade
CS 1010 Computer Science
MOD003398 Innovation And Technology Management
H700 Manufacturing Engineering
SEB724 Engineering Leadership
PH311 Employee Law And Relations
PROJ6006 Marketing Communication
GRAD 695 Research Methodology And Writing
PRJM 6003 Project Risk Management
HRM523 Advanced Studies In Industrial Relations
11174 Introduction To Management
6348 Information Systems In Organisations
MGM301 Marketing Management
MGB305 Accounting And Finance
MGB401 Event And Tourism Management
MGB108 Sport Management
973AA Information Technology And Systems
9470 Introduction To Events And Tourism
6682 Information Security
Just refer 5 friends to earn more than $2000.
After the successfull payment you will be redirected to the detail page where you can see download full answer button over blur text.You can also download from there.
Or you can also download from My Library section once you login.Click on the My Library icon
My Library page open there you can see all your purchased sample and you can download from there.
That's our welcome gift for first time visitors
It is too easy to create or access your own library, just enter your email and make your search
MyAssignmenthelp.com stores a huge
COLLECTION OF QUESTIONS AND SAMPLES, which you can refer to any time you want.
Every time you find something useful, you can save that using the bookmark tool. From the next time,
can access that from your personalized library.
With this feature, you get to create your own collection of documents. You get free
choose and bookmark any document you wish.
Accessing the collection of documents is absolutely easy. Once you bookmark a sample,
access its content with a few clicks on your mouse.
This personalized library allows you to get faster access to the necessary documents.
longer need to spend hours to locate the sample you need.
Finding a sample from a list of thousands is nothing less than spotting a needle in a
Personalizing your own library relieves you from that stress.
On APP - grab it while it lasts!
*Offer eligible for first 3 orders ordered through app!
ONLINE TO HELP YOU 24X7
OR GET MONEY BACK!
OUT OF 33845 REVIEWS
Received my assignment before my deadline request, paper was well written. Highly