Introduction
Jayson
& Jayson Company Ltd. is new in cosmetics sector of Bangladesh. At present
Jayson & Jayson co. ltd. is doing business with jasper olive oil, jasper
tooth paste, jasper soap and jasper face washes. As an extension of its
business, Jayson’s management authority has launched a new cosmetics item named
“Jasper Fairness Cream”. Since 1990, Jayson & Jayson Company Ltd. has been
performing their activities, beginning in Dhaka and then becoming popular in
other districts in Bangladesh.
In
Bangladesh, there are various types of company (national and multinational) who
are offering different types of cosmetics items considering the demand of
different types of customers such as lower class, middle class, upper class.
Here, I would like to mention different items creams such as – ponds, Tibet,
cute, Johnson, fair & lovely, henolux etc.
So,
here Jayson & Jayson mainly target former market segment of the society.
They want to highlight the teenagers, adult and middle aged people whatever
their income.
In
considering sector, as a leader “Unilever Bangladesh Ltd.” is dominating higher market share of 55
percent offering different types of cosmetics per year. Cosmetics made by other
national companies such as – Keya cosmetics, Khaleq group, square and others
who are offering their activities as a follower currently account for less than
35 percent market share.In spite of the intense competition, Jasper Fairness
Cream relies on the numerous strengths, weakness, opportunities &
threats which are mentioned in the SWOT analysis.
Opportunities
and Issue Analysis
The
overall evaluation of a company’s strength, weaknesses, opportunities, and
threats is called SWOT analysis. SWOT analysis helps to explore
the areas of possible changes in marketing activities. A brief discussion of
Jayson & Jayson’s internal and external environment is as follows:
Internal
Environment Analysis
Every
business organization needs to analyze its internal capabilities for developing
strategy that id in line with its mission. To fulfill its mission, Jayson &
Jayson is committed to capitalize on its key strengths and overcome its major
weakness. The strengths and weakness of Jasper Fairness Cream is summarized
below:
Here,
there are broad microenvironment factors that affect Jasper fairness cream.
Major
strengths:
·
Use
of modern technology, wonderful packing and using balancing formula
·
It
is basically for black or semi black skin,
·
Availability
of capital,
·
Customers
loyalty,
Major weaknesses:
o
Inefficiency
in proper distribution channel management,
o
It
may suffer from geographic coverage,
o
It
is copied by the other competitors.
External
environment Analysis
Monitoring
the trends of micro and macro environment forces is also key concern for
management of organization to avoid the major threats and gain advantages
offering opportunities. In addition, there are broad micro environmental factors
that affect Jasper Fairness Cream.
Opportunities
o
Increasing
the demand of the Jasper Fairness Cream,
o
Expending
awareness of the people toward quality items,
o
Increasing
demand for the cosmetics shop not only the city also other areas,
o
Availability
of raw materials,
Threats
o
Introduction
of new and advance technology,
o
Imposition
of higher tax rate on small business enterprise,
o
Possibility
of economic depression
o
Legislation
to reduce the numbers of customers.
Objectives
Jayson
& Jayson’s objectives are:
o
Earn
annual rate of return on investment of 10 percent after taxes over the next
five years.
o
Produce
sales volume at least Tk. 15 crores, Tk. 20 crores and Tk. 25 crores in “Jasper
vanishing cream” respective over three years.
o
In
other side, produce sales volume at least Tk. 12 crores, Tk. 15 crores and Tk.
20 crores in “Jasper moisturizing cream” respective over three years.
o
Sell
other products such as jasper face wash and jasper soap.
Jayson
& Jayson Co. Ltd. will produce “Jasper fairness cream” are two types based
on the seasonal variation in winter and summer. Our retail customers are-
o Teenagers
o Adults
o Middle Aged
Customers.
Marketing
and Selling Strategy
The
company has decided to market “Jasper fairness cream” all over the country. It
considers both sides: the customer’s side and the business side. On the
customer side, the target market is teenagers- adults- middle-aged. On the
business side, the target market is small to large size retail shops that want
to help their products in touch.
Jayson
overall marketing strategy will be create an image of offering the highest
quality product all over the country. Customers will be reached through
advertisement such as magazines ads, newspaper ads and through TV program.
Positioning
strategy
Customers
typically choose products and give them the greatest value. It will introduce
better quality product at lower price for a given level of performance.
It
likes to position in the customer’s mind- “A feeling of warm touch”.
Product
Strategy
Jasper
fairness cream will be manufactured by the high ingredients. It is packed by
the musical or cartoon art paper. The price of this product is standard.
Expired date and manufactured date will outline the validity of the product. It
outlines “Best use before 24 months from date of packing”.
Product
description
There are
mainly two types of “Jasper fairness cream” based on the seasonal variation in
Bangladesh. These are as follows:
o Jasper vanishing cream (oil control
system),
o Jasper moisturizing cold cream.
Jasper
vanishing cream is
unique oil control system by the following way. Jasper vanishing cream reduces
excess oil from your skin through a two way of action:
1. Its
unique oil-control system helps regulate oil secretion.
2. Its
unique micro sponges absorb excess oil.
Major
Key ingredients of Jasper vanishing cream are as:
·
Polyethylene glycol,
·
Vitamin B3,
·
Triclosan,
·
Dimethicone,
·
Methyl,
·
Paraben,
·
Propyl paraben,
·
Disodium EDTA,
·
Perfume,
·
Aqua.
Results
Fresh,
oil-free, matte face.
Jasper’s
moisturizing cold cream: Jasper moisturizing cold cream is basically used in winter season. It
depends on the variation skin of the different people. Because it contains-
1) Vital
beauty oils which penetrate deep to provide complete nourishment,
2) Natural
moisturizing which offers your skin from within and help prevent dryness.
3) Feel
the difference from the very first time you use it. It gets absorbed easily by
your skin to relieve you of dryness instantly.
Major keys ingredients of Jasper’s
moisturizing cold cream are as follows:
§ Light liquid paraffin oil(LLPO)
§ Heavy liquid paraffin oil(HLPO)
§ Glycerin,
§ Lecithin,
§ Sunflower oil,
§ Perfume,
§ Methyl paraben,
§ Propyl paraben,
§ Disodium EDTA,
§ Aqua.
Results
For soft,
younger looking skin.
Pricing
Strategy
Jayson
& Jayson Co. Ltd. will use cost-based pricing strategy. In case of cost
plus pricing, it will add a markup to the cost of the product. Different prices
for different size. In market consumers will be offered two types of sizes in
every item. They are as follows:
Jasper
Vanishing cream (oil control system)
§ Small(30 g)— Tk. 26
§ Large(80 g)- Tk. 75
Jasper
moisturizing cold cream-
§ Small(25 g)- Tk. 25
§ Large (70 g)-Tk. 55
Distribution
Strategy
Jayson
& Jayson will use marketing in termedoaproes to bring jasper trainers cream
to the market. It will use a distribution channel like as
Manufacturer———- Retailer / Wholesaler————– Consumer.
In
the city area like Dhaka the product will be distributed by using small
rickshaw van for commission basis. One sales representative will select for
every rickshaw van who delivers the product to the wholesaler or retailer. He
or she will have well trained-up.
Marketing
Mix Strategy
Marketing
communication mix includes advertising, sales promotion, personal selling,
public relation and direct marketing. The company will undertake an advertising
campaign to build brand awareness and differentiate the product from
competitors. Apart from TV advertisement, the company also advertises in
dailies.
Marketing
Research
The
company will undertake marketing research to measure brand awareness before
during and after marketing campaign, study consumers’ satisfaction and identify
opportunities for future product development efforts.
Sales target and forecasting
The
Company attained a good position according to market share of cosmetics. Jayson
& Jayson expends approximately Tk.0.75 crore per month in its promotional
activities expecting a greater sales volume.
|
Promotional |
Tk.0.75 |
|
Sales |
Tk.3-5 |
|
Sales |
About |
Jayson
& Jayson forecasts that within forthcoming 6 months, it will attain 20% of
the total market share. The Company considers the following issues in the time
of sales forecasting:
§ Promotional budget
§ Competitors’ promotional activities
§ Production capacity
§ Industry growth
§ Previous sales data
§ Financial condition
§ Contingent factors.
Prospecting
The
planning work, which is essential in eliminating calls on nonbuyers, is called
“prospecting”. Improvement in prospecting is one way to stretch productive
selling time.
Retailers
are the customers of Jayson & Jayson. The company tries to place their
products in the shelf of retailers who sell cosmetics products. So, it is easy
to search customers of cosmetics. Prospecting is therefore easy in this
industry. Jayson’s distribution channel is as follows-
Jasper Fairness Cream is a newly launched product in the
market. It has decided to calculate its growth in every 6 months. In the
previous 6 months-
The industry growth is 12%
Growth rate is
7%
Controlling and
feedback function
The feedback comes to the organization in the following way-
The
decision makers from the central office controls all types of activities using
regional offices and distributors
Action
Programs
The company will carry out its marketing strategy and
achieve its objectives through a variety of scheduled programmes. At the
beginning stage Jayson & Jayson to initiate Tk. 500000 trade sales
promotion to educate dealers generate excitement for the product launch in the
next year. As a part of this, trade promotions the company takes the following
initiatives:
§ Leaflet distribution to consumers’
homes,
§ Newspaper advertisements will be
purchased during the first three months of business until an image is built.
§ The Company will offer discounts to
recreational groups such as adults, teenagers or middle-aged people.
§ Promoting products for an
introductory price at its Grand opening.
Implementation
& Control
The company will maintain tight control measures to
closely monitor quality and consumer satisfaction. This will enable the company
to react very quickly in rectifying any problems that may occur. For control
purpose, the plan allows for month-by-month comparison of actual versus projected
sales and expenses.