INDEPENDENT UNIVERSITY, BANGLADESH Course Title: Principles of Marketing Course Code: MKT201 Semester: Autumn 2022 Section: 03 Date of Submission: 7th April, 2022 Submitted To: Mrs. Zakia Binte Jamal Senior Lecturer Members of Team Infinity: STUDENT NAME Daniel Bin Zakaria Al Siam Naim Mazharul Islam Asif Nabila Sarkar Arobi Dewan MD Alif STUDENT ID 1530724 1910023 1910441 1911064 2130187 1 LETTER OF TRANSMITTAL 7th April, 2022 To Mrs. Zakia Binte Jamal Faculty of MKT201, Sec 03 School of Business Independent University, Bangladesh (IUB) Bashundhara R/A, Dhaka Subject: Submission of Marketing Plan of Colgate Orange Flavoured Herbal Toothpaste. Dear Madam, With due respect, it is our pleasure and honor to be your students and have this opportunity to present the marketing plan of Colgate Orange Flavoured Herbal Toothpaste. While preparing the marketing plan, we have given our best effort thoroughly on the topic regarding this project and we believe and hope that our plan will provide a clear conception and will appear as realistic as possible. Though we are in the learning phase of our career, this plan has helped as gain sufficient knowledge on running a marketing plan properly having proper target market, assessment of 4ps, bulding brand and marketing strategies. It is indeed a challenging and interesting experience. We are more than willing to answer any questions regarding this marketing plan and clarify it fully to your understanding. Thank you very much for all your support, which helped us significantly in preparing this marketing plan. Sincerely Yours, Group members of “TEAM INFINITY” 2 ACKNOWLEDGEMENT Firstly, I would like to thank the Almighty Allah for helping us to complete the final report. I am grateful to the honourable faculty Mrs. Zakia Binte Jamal for giving such a tremendous opportunity to work on marketing plan of “Colgate Orange Flavoured Herbal Toothpaste”. I would like to convey my tremendous gratitude to my honourable faculty, Mrs Zakia Binte Jamal for providing us the guideline about how we can prepare this report. She helped us a lot by sharing his valuable knowledge with us. Lastly, I would like to thank my classmates. They have been helpful and provided valuable insights from time to time. 3 TABLE OF CONTENT EXECUTIVE SUMMARY……………………………………………..…………01 INTRODUCTION………………………………………………………...………02 COMPANY OVERVIEW……………………………………………………...….03 CURRENT MARKET SITUATION…………………………………….…..…….03 OBJECTIVES & ISSUES…………………………………………….………..….07 MARKETING STRATEGY………………………………………….…….……..09 CONCLUSION………………………………………………………….…….….16 REFERENCES…………………………………………………………………...16 4 EXECUTIVE SUMMARY This report is about to a marketing plan on Colgate Orange Flavoured Herbal Toothpaste. The aim of this report is to analysis the different marketing strategies of Colgate Orange Flavoured Herbal Toothpaste. This will be a new product which will be readily available for our customers which meets their satisfaction. Colgate Orange Flavoured Herbal Toothpaste seeks to achieve a unique ability to provide distinctive, high quality toothpaste using distinct ingredients to appeal and to excite contemporary orange tastes for this product. Colgate Orange Flavoured Herbal Toothpaste combines the oral care science of Colgate with orangy smells and nature’s best herbs for healthier teeth and gums. Colgate Orange Flavoured Herbal Toothpaste safely polishes your teeth to help restore their natural whiteness and shine. Its unique formula of Eucalyptus, Melissa, and Orange extract combines the expert science of Colgate with some of nature’s finest ingredients. Strengthens and whitens teeth and fights cavities with Fluoride. It is great for everyday use. We will need to evaluate our market size and trends and our competitors and potential partners. This product will lead the company in herbal toothpaste market and will carry the company on the top spot. The target market for the product will be the city people, children and youths. The major competitors of Colgate Orange Flavoured Herbal Toothpaste are Dabur Herbal Toothpaste, Pepsodent Herbal Toothpaste and CloseUp Herbal Toothpaste. We select the conventional marketing channel to distribute our product. We have selected a reasonable price considering both the consumers buying capacity & our profit margin. Colgate Orange Flavoured Herbal Toothpaste will increase its market share through targeted advertising to increase the number of customers who want convenience and are looking to have a natural oral care orange scent which will give them natural fruity taste & satisfaction. 1 INTRODUCTION Colgate Orange Herbal Toothpaste is made from natural ingredients. This toothpaste is still approved as organic. From our study and research it is found that many customers have taking place to change over to organic toothpastes to avoid synthetic & artificial flavours which are normally found in regular toothpastes. Because of the increased demand of natural products, Colgate Orange Flavoured Herbal Toothpaste will be the perfect timing of demand. This toothpaste does not have dyes, artificial flavours or chemicals and this is one of the mainly general reasons that consumers claim when switching from ordinary toothpaste to Colgate Orange Flavoured Herbal Toothpaste. Some people would rather use Colgate Orange Flavoured Herbal Toothpaste for their oral hygiene and variety of reasons. Many people actually opting for them since they are not tested on animals. Others, devoted to guard the environment or who are sensitive to the ingredients in usual toothpastes, are attracted to the reality that they have no artificial colours or flavourings. Colgate Orange Herbal toothpastes is also fluoride free, which appears to be other frequent grounds why some individuals prefer this category of toothpaste more than regular one. Also some people have allergies or other health concerns who may wish to think about Herbal or organic tooth paste formulations. Classic ingredients in Herbal and organic toothpastes include herbs with traditional historical uses like myrrh to help destroy plaque-causing bacteria; chamomile to reduce gum inflammation; Echinacea to inspire the immune system; sage and rhatany to decrease bleeding and essential oils like peppermint, to add orange flavour and ease pain and irritation and give fruity refreshment. Some other common raw materials for these products include clove, ginger and tea tree oils. Colgate Orange Flavoured Herbal Toothpaste also contain oils such as oils of coriander, ginger, orange and spearmint. Eucalyptus is however one of the most common ingredients in herbal toothpastes, mainly for its properties of whitening 2 and prevents stained teeth. Myrrh is used to prevent gingivitis and bad breath and Chamomile and Sage are said to be helpful in soothing mouth ulcers, toothaches and inflamed gums. COMPANY OVERVIEW ACI is the trusted brand in Bangladesh. To expand its business category ACI imports international products. As a part of this, they import Colgate brand in Bangladesh which is very successful in India and going well in Bangladesh as well. ACI-Colgate is conducting a survey program on retailers. Here, all the shopkeepers’ in Dhaka is interviewed about the Colgate. It does not include any super shop like, Agora, Shopno or any other branded super shops. It includes the retailing shop including pharmacy shop around Dhaka. All the retailers’ shops are divided into three categories. They are Category A, B, C that indicates big, medium and small shop respectably. Also, ACI divides the Dhaka into four zones to survey better. Also, within these 4 zones, there are many territories where this survey work was conducted. The main reason is to do this survey to learn about the consequence of distribution channel strategy of Colgate. During this survey, certain criteria and rules have been followed. Analyzing the survey data, distribution strategy will be developed in future. Moreover, some general gaps and judgment are recommended. Furthermore, this research work will continue time to time as it is the way to develop better distribution strategy. CURRENT MARKETING SITUATION MARKET DISCRIPTION : We are going to introduce a new herbal toothpaste under Colgate that is Colgate Orange Flavoured Herbal Toothpaste. Herbal toothpaste is the perfect refreshment for those type of people who want natural toothpaste . In this concept we also added orange fruit flavour for refreshment . It's made for light user but it can be used by heavy user though we have a lot of herbal toothpaste already had in the market. That’s why we target concentrate as a appropriation. It’s a Herbal toothpaste made with natural herbs and fruits 3 ingredients. Already Colgate is popular in the market. Every type of people love this other products. In herbal toothpaste we add up the orange flavour that is health beneficial too. who doesn’t want to be fit now a days. Right? ASSESMENT OF 4PS: PRODUCT Colgate Orange Flavoured Herbal Toothpaste combines the oral care science of Colgate with Orange fruity scent and nature's best herbs for healthier teeth and gums. Colgate Orange Flavoured Herbal Toothpaste safely polishes your teeth to help restore their natural whiteness and shine. Its unique formula of Eucalyptus, Melissa, Mint and Orange extract combines the expert science of Colgate with some of nature's finest ingredients. Strengthens and whitens teeth and fights cavities with Fluoride. PACKAGING AND LEBELLING: PRICE 4 • Twist cap • Easy to grave • Orange Flavor • Logo of Colgate • Slogan(REAL FRESH DENTAL CARE WITH FLAVOR.) • Ingredient Pricing strategies are the most important stage in marketing mix. If we select extensively high price, customers will not buy and volume of sales will be very low. On the other hand, setting lower price will not cover our costs. So we have to consider the pricing strategy in selecting price. PROMOTION We shall make promotional activities for our product in different advertisement, school, college, various quiz competitions, debates, and so on.These are: (1) Bill board (2) TV Ad (3) Sponsorship (4) Short film (5) Drama (6) Commercial5 (7) NewsPaper. PLACE A distribution strategy defines how we are going to move products from point of creation to the point of consumption, in a cost-effective manner. In generally, there are different types of marketing distribution system. Consumers are able to buy the products from different market place. All these distribution strategies are consists of producer, wholesaler, retailer, and finally to the consumer. • • • • • Inventory : Factory where it is produced. Location : 64 districts Channels : Wholesaler, commercial, office Transportation : Distribution mini truck, van etc Logistic : whole seller , co. distributor co. COMPETITIVE REVIW Whenever a company launches their product they need to analyze what their competitors are up to and try giving better products at either the same price or less than the competitor’s price. By offering high-quality goods at fair and affordable prices, the brand has earned the confidence of millions of customers. Although it faces strong competition from other brands, this healthy competition encourages them to improve their products to keep their market share. Some of the competitors Colgate Orange Flavoured Herbal Toothpaste faces are: 1. Pepsodent Herbal Toothpaste 5 Pepsodent is a Company owned by Unilever. The USP(Unique selling point) of Pepsodent is that it creates toothpaste that tastes like mint. According to the company, their toothpaste protects teeth from germs and strengthens teeth to fight against bacteria and captivity. It has operations in over 50 countries and it is one of the biggest competitors of Colgate Orange Flavoured Herbal Toothpaste 2. Closeup Herbal Toothpaste Closeup is also a Unilever Product. It is known for its long-lasting freshness, it has been a market leader for many decades as it targets the youth of the nation. The biggest advantage of Closeup is that it was the first gel-based toothpaste that attracts its target audience. 3. Dabur Herbal Toothpaste 6 Dabur is produces herbal toothpaste and their product whitens the teeth with the help of whitening agents. It makes use of natural ingredients which has no side effects and can be used by people of any age group. Now as we saw that before launching the product a company needs to go through competitor analysis. So we have to lookup these products overview to increase market share of Colgate Orange Flavoured Herbal Toothpaste. OBJECTIVES AND ISSUES INCREASE SALES: Colgate Orange Flavoured Herbal Toothpaste is a natural cavity-fighting formula fruity scent. However, we believe the company can do a lot better. We aim to boost Colgate Orange Flavoured Herbal Toothpaste sales, but we believe the brand can go better. so that it may compete more effectively with global brands We intend to do so in a methodical and deliberate manner. Provide a high-quality product at a reasonable cost. We also give a variety of ingredients. We feel that by branding in a distinctive way, consumers will be more likely to purchase our product. INCREASE MARKET SHARE: We want to make Colgate Orange Flavoured Herbal Toothpaste bigger player in the market in Bangladesh. We want to provide better quality Herbal toothpaste through looking at the demand and the requirements of the consumers. Because many people have dental health problems, including bad breath, tooth decay, teeth whitening, tooth sensitivity, and more. And thus, we want to use this information to improve our product so that people are intrigued to buy it .We want to make a far more frequent purchase for our loyal customers. A major issue for Colgate Orange Flavoured Herbal Toothpaste is its competition, 7 brands such as pepsodent and Close up toothpaste have much bigger budgets. So therefore, we need to make sure our strategies are unique and catered to our strengths . Increase brand awareness for existing product: Nowadays there are several ways to Improve brand awareness. Some of the important elements of brand awareness are discussed below: USE NATIVE ADVERTISING: Employing native advertising is one of the most effective ways of increasing brand awareness and reach over to new customers who needs herbal toothpaste.we want to host publishing sites, native ads help you reach people .we can serve up native ads on publications like The Daily Star or Prothom Alo, we want providing great knowledge about Colgate herbal. RUN SOCIAL MEDIA ADVERTISING: By running brand-awareness ads, we can reach new people who might be interested.we can provide Colgate Orange Flavoured Herbal Toothpaste ads need to highlight the main characteristics of toothpaste for maximum exposure and can be placed on radio and television stations that reach a wide audience. BUILDING BRAND IMAGE : Identify who you are as a brand: Before creating brand, we must identify who are as a company.Why are offering this product/service? All of these questions will help we set our intentions as a brand. Identify Key Audiences :The first step is to identify our target audiences. Our target audiences will consist of a mix of external and internal groups, including customers, partners, industry analysts and employees. It's important to be very specific when defining our audiences. Define Brand Persona :Once we have determined our key audiences and critical business goals, we can start to build out your brand persona. Our persona should appeal to customers and articulate our most important differentiators and product benefits. Here Colgate Orange Flavoured Herbal Toothpaste will show the importance of its freshness. Develop Key Messaging :After we have defined our brand persona and image, document our key messages and align them with our audiences. Our key messages will be the most important takeaways we want our audience to walk away with after interacting with your brand. 8 Colgate Orange Flavoured Herbal Toothpaste is new brand, we need to make sure we take the correct steps to introduce it to the market and make sure people are aware of its existence. Advertising on physical mediums and socially will be our first step into introducing the brand. We would like to create interest by giving our samples and sponsoring health related events so that we can grab people's attention and get them interested in the product. MARKETING STRATEGY A marketing strategy is a company's overall plan for reaching out to potential customers and transforming them into paying customers for their goods or services. The company's value proposition, key brand messaging, data on target customer demographics, and other high-level elements are all included in a marketing strategy. By understanding the needs and wants of its customers, the ultimate goal of a marketing strategy is to achieve and communicate a sustainable competitive advantage over competitors. A marketing asset can be judged based on how effectively it communicates a company's core value proposition, whether it's a print ad design, mass customization, or a social media campaign. PRODUCT STRATEGY PRODUCT LEVEL CORE BENEFIT: It is the fundamental level in customer value hierarchy. It is the benefit or service the customer is really buying. In case of toothpaste, the customer is buying a medium for safety of teeth and mouth. BASIC PRODUCT: This is the second level in customer value hierarchy. The marketer must turn the core benefit into a basic product. In case of toothpaste, the marketer must provide toothpaste that provides germ free mouth for all without any side effects. EXPECTED PRODUCT: This is the third level in customer value hierarchy. Here the marketer prepares an expected product, a set of attributes and conditions that customers normally expect when they purchase this product. 9 AUGMENTED PRODUCT: At the fourth level, the marketer prepares an augmented product that exceeds customer expectations. To fight competition the marketer tries to offer an augmented or may an even better than expected product. Colgate is providing different variety of toothpastes like Colgate herbal for fresh mouth with Ayurvedic effect. now it added Colgate salt for those with cavity problem. PPOTENTIAL PRODUCT: At the fifth level stands the potential product, which encompasses all the possible augmentations and transformations the product or offering might change in near future. PRODUCT LINE Colagate has so many products comparing to the competitors. It has a huge advantage in the market Colgate now provides many kind of toothpaste, toothbrushes, doctor prescribed products. BRAND DEVLOPMENT 1. COLLABORATION WITH INFLUENCER: The Company has always targeted to shoot advertisement with prominent celebrities. If we talk about India they have already made some deal with Bollywood celebrities to make colgate ads. Same can be done by 10 Colgate Bangladesh. There are many well known celebrities that Colgate Bangladesh can use to promote this particular variant of colgate toothpaste. 2. LOCATION BASED TARGETING : When it comes to ad campaigns and marketing methods, Colgate has always been a master. They use various marketing methods to target different places and have had a lot of success in terms of good response and lead creation. By performing campaign in schools and colleges will help colgate in terms of brand development. They can also campaign in some rural area of Bangladesh where literacy rate is not that good. Making people aware to take care of their teeth might be a great move. 3. CREATIVE PACKAGING WITH STRONG MESSAGE: Colgate has always been successful when it comes t packaging and sending message with it. Be it the Cavity protection toothpaste or max fresh toothpaste the company’s advertisement commercials and advertisement campaigns aptly signify what they are offering and by concentrating on the solution to the very specific problem of oral health, they gain the trust of the masses. 4. BUILD TRUST : Colgate has been a master of ad campaigns and marketing techniques. They employ a variety of marketing techniques to reach out to various locations and have had a lot of success in terms of reaction and trust among Bangladeshi people. 5. REFLECTING THE INNOVATION : Colgate has been operating in India since 1973 Because it was the only firm that offered toothpaste in a tube at the time, it was a market mover. It was a revolutionary moment, and unlike. any other brand at the time, it captured the attention of the whole public. Later on, the company discovered the Bangladeshi market's nerves. BRANDING: Colorful, round shape, prominent Colgate herbal logo written in modern font. TRADE NAME: Colgate Orange Flavoured Herbal Toothpaste, a product of Colgate 11 BRAND EQUITY: Colgate Orange Flavoured Herbal Toothpaste provides a quality, consistent, innovative, accessible and natural toothpaste reputation. PRODUCT LIFE CYCLE: Colgate Orange Flavoured Herbal Toothpaste is a low-learning product. With a strong marketing campaign, “sales will begin immediately and the benefits of the purchase are readily understood”. Since Colgate Orange Flavoured Herbal Toothpaste is prone to product imitation, its strategy is to broaden distribution quickly, which is currently feasible thanks to the company’s high manufacturing capacity. PERFORMANCE QUALITY: The performance quality of Colgate Orange Flavoured Herbal Toothpaste will be that it will produce what it functions. Customers can take it as their satisfaction with a combined taste of natural ingredients like Nim, Tulsi, Melissa, Mint, Lemon. CONFORMANCE QUALITY: The conformance quality of Colgate Orange Flavoured Herbal Toothpaste will be that it will be free from any defects, it will deliver its targeted performance and quality. PRICING STRATEGY Pricing stratigies are the most important stage in marketing mix. If we select extensively high price, customers will not buy and volume of sales will be very low. On the other hand, setting lower price will not cover our costs. So we have to consider the following things in selecting price. There are already herbal toothpastes available in the market: Product Name Quantity Price Pepsodent Herbal Toothpaste 100gm 129tk CloseUp Herbal Toothpaste 100gm 150tk Dabur Herbal Toothpaste 100gm 263tk Meswak Herbal Toothpaste 100gm 140tk 12 Our Colgate Orange Flavoured Herbal Toothpaste 100gm price will be 130tk. Comparing to other toothpastes it feels good because of our newly added orange flavour. Customers will also accept the new product because of it’s average price and tastes. DISTRIBUTION STRATEGY When it comes to distribution Colgate is known all over the world because of it’s popularity. There are three distribution strategies : • Intensive distribution • Exclusive distribution • Selective distribution Drawing up a distribution strategy embraces a marketing channels choice and process coordination. The company must determine who would be its intermediary, and under what conditions he is going to deal with the products. It is about customer service, warehousing, and transportation. 1. INTENSIVE DISTRIBUTION STRATEGY: Intensive distribution strategy involves a lot of brokers, who stock products on many available areas, where a customer is able to purchase an item. In other words, this distribution model concentrates on taking advantages of every possible place for selling goods. 2. EXCLUSIVE DISTRIBUTION STRATEGY: Exclusive distribution strategy, a contrario to the intensive one, holds particular distributors, who are obliged to sell products exclusively in defined places. This kind of distribution policy is commonly practiced by business dealing in luxurious and high-end products. 3. SELECTIVE DISTRIBUTION STRATEGY: Sometimes companies want to offer their products only in particular stores or geographic areas. Moreover, they cooperate with several distributors. Selective distribution is used in the scheme when buyers have an option to compare products in different point of sale. Ø Direct Distribution strategy : The shortest way to reach to the final customer. In a direct distribution strategy, all distribution matters are in producer’s 13 hand. The manufacturer directly provides the items to the buyers and manages all distribution processes, warehousing or delivery organization. Ø Indirect Distribution strategy: An indirect distribution channel is a kind of chain involving different third parties to making manufacturers products available for purchase by the final customer. Business cooperate with warehouses, wholesalers, brokers or retailers and the length of the channel can be either short and long. The indirect channel lets companies outsource distribution operations and concentrate on the key points of business. MARKETING COMMUNICATION STRATEGY There is no such thing as an unbreakable strategy. In order to achieve long-term success, businesses must develop and implement new strategies. We've chosen some promotional strategies because we're launching a new product in a new market Colgate Herbal Toothpaste Orange Flavored. Herbal Toothpaste's promotion strategies include advertising, sales promotion, and public relations, but there are two additional promotion strategies, personal selling and indirect marketing. Herbal Toothpaste has been observed to be consistent in promoting sales through advertising in various media, ranging from newspapers to television and radio. Other areas where Herbal Toothpaste will be equally consistent are sales promotion via gift and promotional vouchers. Herbal Toothpaste will attract more customers to its stores and sales points as a result of its effective marketing strategy. The product's other promotional strategy will be its slogan, "REAL FRESH DENTAL CARE WITH FLAVOR." Through such promotional activities, the product will gain a foothold in the market and gain a larger market share than competing products. Colgate Herbal Toothpaste Orange Flavored will be such a heavily advertised brand on the streets of Bangladesh that it will become a part of the landscape in almost every neighborhood. The brand logo can be seen almost everywhere. The brand name can be seen in a variety of ways, including the ones below. • Billboards • Shop fronts and store headboards • Posters and stickers • Media (Television, Radio) • Social Media (Facebook, Youtube) All of these factors increase the likelihood of exposure to the point where it is nearly impossible to remain unfamiliar with the brand. These advertisements are successful in attracting customers because they focus on children. The brand's promotional activities are designed to attract attention through a variety of effects. Size: Ads for Herbal Medicine Ads for Herbal Medicine Toothpaste is essentially a series of large billboards that must tempt the consumers. 14 Color: All Herbal Toothpaste advertisements will be black and white with red on one side. Position: Herbal Toothpaste dental cream advertisements try to take advantage of every available location, whether it's on the right, left, or center of a street. Color: All Herbal Toothpaste advertisements will be black and white with red on one side. Position: Herbal Toothpaste dental cream advertisements try to take advantage of every available location, whether it's on the right, left, or center of a street. PROMOTIONAL STRATEGY PULL STRATEGY: Pull strategy is a promotion strategy that calls for spending a lot on advertising and consumer promotion to induce final consumers to buy Colgate herbal. By doing an effective pull strategy, consumers will be motivated to demand Colgate herbal from channel members for keeping their teeth healthy with a combined mixture of natural ingredients. We will emphasize on pull strategy more to have long lasting sustenance in the competitive market. We will change our marketing strategies over time to satisfy the consumers changing demand. PUSH STRATEGY: It is a promotion strategy that calls for using the sales force to push Colgate herbal through channels. Colgate itself will promote Colgate herbal to channel members to bring them to carry the product and to promote it to final consumers. We will also follow push strategy initially to grab the consumers of other brands products. We have a strong belief that if any consumer tastes our product single time he/she will be interested to purchase it again and again and will be a loyal customer of our product. 15 ADVERTIISING: Advertisements will be given in television, radio, internet, magazine, newspapers, and billboards. Advertising themes will be changed with time and promotional activity will be carried out to generate consumers. CONCLUSION A marketing plan is a plan which outlines a company's overall marketing efforts. Building a new brand or product needs huge promotional activities. To introduce an old product newly or branded it needs effective and future oriented sequential steps. In case of this plan all the necessary steps has been outlined in a systematic manner. The things shown are designed in such a way that is able to grab the attention of the present customers of other products. REFERENCES 16 • Sardar, S., Hossain, E., Chanda, S. R., Sarker, O. F., & Parvez, S. (2018). Consumer perception towards different toothpaste Brandsof Bangladesh. JBS, 11(2), 47-71. • Basch, C. H., & Rajan, S. (2014). Marketing strategies and warning labels on children's toothpaste. American Dental Hygienists' Association, 88(5), 316-319. • Shukla, T., & Sanghvi, R. (2017). India’s Fastest Growing FMCG Company: An Insight into Patanjali’s Marketing Strategies. Evidence Based Management, 105. • Bari, M. (2017). Analyzing distribution strategies of ACI-Colgate based on retailers feedback. • Ahmad, M., Alam, S., & Ahmad, M. Children’s Perception towards Halal Brand Product Appearance: A Case Study on Mu’min Junior Toothpaste.