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Personal care products are a huge industry. Gaining even just a few percentage points of any personal care category can reap great rewards for small
Personal care products are a huge industry. Gaining even just a few percentage points of any personal care category can reap great rewards for small market players.
You are to assess the personal soap market and do the following:
- Identify and define the different markets that are being targeted by the major brands (hint: most of these brands segment the market via benefits). Identify at least half a dozen market segments.
- Identify a segment that you feel is yet to be tapped and describe this market segment.
- Propose a concept or mockup for the kind of soap product that you think would attract this identified market segment.
Criteria for assessment
Segment identification How well has the group spotted key market segments? (15 points)
Proposed Segment How viable is the identified market segment? (10 points)
Product Strategy? How soundly does the proposed product address the identified market segments potential needs? (10 points)
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