MARKETING STARTS WITH STP: SEGMENTING, TARGETING AND POSITIONING

Students' Product Instructions and Outline

(Students must chooseonly onetopic below!!!)

Marketing Strategy ProjectSTPchoice topics:

#1 - New Musical Group

#2 -New Feature Movie

#3 - New Television Show

#4 - New product or service (think "Shark Tank")

#5 - Existing product or service (will require more research!)

Note to Students:Conduct a "Brainstorming" session in which you choose a topic from those listed above. In your session, you should answer all statements and questions in all three sections of the Marketing Strategy Project outline below. Good Luck !!!

Marketing Strategy Project Outline

Section#1.Product Segmentation

a.Current product identification and information (name, location, size logo, symbols, insignias, models, etc.)

The name of the company is Tide. The headquarters are located in the United Kingdom but has been a part of the American culture since 1946 when the product was initially launched. The size of this company is huge, they are the go-to brand when it comes to laundry detergent. Even the other brands someone would go to for detergent, like Downy or Bounce, are owned by Tide. The logo is very easy to understand, and it pops out in the eye of the consumer.

b.Product's philosophy, climate, and culture (mission statement)

Tide's mission statement: "Tide is not just a product; it's a promise. It's not just any laundry detergent; it's one that renews clothes and the stories they tell. It's strong in stain removal, but gentle on clothes. For more than 70 years, Tide has set the highest standards for laundry care. Tide not only works to deliver you the cleanest clothes, but also helps you be more eco-friendly when it comes to doing the laundry. Whether your laundry challenges manifest as stains, odors, or soiling, we can help with all your laundry needs. Simply put your garments in the machine, and let Tide take care of the rest." This is saying that the goal of tide is not to only be the best clothes cleaner on the market, but that is good for the environment as well.

c.Short-term and long-term goals (possibly look at the annual report, may have to infer this based on your reading about the product)

The long-term goal for Tide is to be sustainable by ensuring to maximize the renewable content of the products and packaging. A short-term goal for the company is to use technology to make the product as green as possible. So, short-term is to become green, long-term is to remain green.

d.Demographics (age, sex, income, occupation, lifestyle factors, activities, interest, values, etc.)[basically, who does the product target and how did you come up with it]

Based on what I see on the website, the target demographic of this company is women from the age of young adult to elderly. The reason I say this is because most, if not all, of the thumbnails to click on in the website feature a woman doing laundry or an activity. There are very few men found on the website.

e.Present market size (where are your customerspercentage of market you want to captureand why?)[how big is the market for this product? For industry information visit IBIS world in our JBU library]

The company that owns Tide and all the other detergents is called Procter and Gamble. The company has a market capitalization of 247 billion dollars as of February 28^th, 2019. The total revenue of the fiscal year of 2018 is 66.8 billion dollars, which is an increase from the previous year by 1.8 billion dollars. Out of all this money, the market share that Tide gets is 13.5% of this income.

f.What potential do you see for an increase in market share for this product? (describe your market growth potential)

I see a very large potential for growth for this company. The main reason is because they are doing everything they can do to become a green company. In today's world, that is something that is very important for a lot of people. I personally know a few people out there that only purchase products that are made from environment conscious companies. Another reason that this company will increase growth potential is because of the many different products they can produce.

Section #2. Targeting Your Product Market

a.Primary target market (main consuming group) (possibly can get some of this from your demographic question above, make sure to be very specific).

The answer this bluntly, it is adult women. All there is to see on the website are women doing laundry, so it is obvious who they are reaching out to. It is common for the mother or wife of the house to do the laundry, so that is why they are such a large part of their target market. While this may not always be the case, it is very common for this to be true.

b.Product life cycle (where do you think this product is on the product life cycle?)

Tide has a fairly large product life cycle. Anyone who is an adult and wants clean clothes will invest in some sort of laundry detergent. So, the life cycle is basically any adult.

c. Product life cycle (describe anticipated adjustments in the marketing mix - changes through the stages)

d. Supply five different and potential promotional vehicles

e. Advertising detail schedules

f. How are you going to generate publicity?

Section #3. Positioning Your Product Market

1. What is special about this product?
2. List and describe its features and benefits.
3. Explain the image and character you would like your customer to see.
4. Describe and provide your three closest competitors' activities.
5. Analyze your product's opportunities and threats in the market. Include a SWOT analysis.