HOPPENHEIM & CO GO-TO-MARKET PROPOSAL
ANTONIOS BOUGIOURIS
GO TO MARKET STRATEGY
SITUATION | ANALYSIS | RECOMMENDATIONS
CURRENT SITUATION
“
HOPPENHEIM’S CLIENT is in process of developing an anti-aging product to compete in the luxury segment. Hoppenheim has been tasked with the process of developing the brand and creating a new label which integrates the innovative chemical into current formulas.
”
GO TO MARKET STRATEGY
SITUATION | ANALYSIS | RECOMMENDATIONS
OUR VALUE PROPOSITION “Designing a company’s offer so that it occupies a distinct place in the target customer’s minds.” - KOTLER DISTINGUISHABLE FUNCTIONAL ATTRIBUTES !
• Scientific! • Three Layers Deeper! • Anti-Aging AND Whitening! !
DISTINGUISHABLE EMOTIONAL ATTRIBUTES !
!
!
!
• Luxury / Aspirational / Status! • Youth / Health! • Glamour / Confidence!
GO TO MARKET STRATEGY
SITUATION | ANALYSIS | RECOMMENDATIONS
SWOT ANALYSIS STRENGTHS
WEAKNESSES
• Innovative/R&D focused products! • Ability to reinvent product category/extend brand! • High profit margins! !
• • • •
! !
Brand recognition/awareness! Distribution channels! Resources (Financial & Human)! Can be imitated (patents?)!
OPPORTUNITIES
THREATS
• • • •
• • • •
Strong competitors with resources! Saturated and highly competitive market! Can be imitated! Formulas centered around star ingredient with anti-aging is common.! • Mature phase in product/category lifecycle! • Barriers to entry: substantial R&D and marketing investments to generate brand awareness! • Difficulties to obtain distribution channels!
Industry growth ! Developing countries (BRICS)! Star ingredient trends! Branding potential!
!
!
!
GO TO MARKET STRATEGY
SITUATION | ANALYSIS | RECOMMENDATIONS
SEGMENTATION & TARGETING PRIMARY TARGET: AFFLUENT WOMEN: IVANKA § § § §
Aged 35-55, high-income, high resource segment! Busy, crave convenience & high-quality ! Shops at Holts, online, dermatologist! Ivanka is a professional single woman in her 30s or 40’s, makes $100K a year, is smart, fashionable, cares about how she looks, works out, loves to travel, and is tasked with the responsibility of career and family. Always around town, she is what we aspire to be. !
SECONDARY TARGET: BABY BOOMER: IRIS § § § §
Aged 56-74! Increasingly health and beauty conscious & pleasure-driven! Visits Bergdorf’s ! Iris is a socialite who loves fashion and keeps current on trends. She likes to look good but doesn’t believe in plastic surgery. While young at heart, she has traditional values. She is likes tried and tested methods and follows doctors orders. She enjoys life.!
AFTERTHOUGHT: MEN: CARSON § § § §
Aged 30-50, high-income, high resource segment! Spends time & money on appearance! Shops online and Barney’s! Carson is gay and obsessed with his appearance and fashion - willing to try any product that restores his age and makes him look good. He is fun spirited, popular, and well liked. He is an extrovert who loves to be in front of the crowd/camera and pose for selfies.!
GO TO MARKET STRATEGY
SITUATION | ANALYSIS | RECOMMENDATIONS
MARKETING MIX “We don’t create ‘needs.’ We Influence ‘wants’ and ‘demands’ with our strategy.” PRODUCT § Anti-aging & whitening formula that goes 3 layers deeper
PRICE § High price point/margin consistent with premium category
PLACE/DISTRIBUTION CHANNELS § Omnichannel – Ecommerce and bricks and mortar! § Department Stores – Harvey Nichols, Harrods, Bergdorf’s! !
! PROMOTION § Online – Website, social media, fashion blogs! § Print – Vogue, Vanity Fair, Airline magazines!
GO TO MARKET STRATEGY
SITUATION | ANALYSIS | RECOMMENDATIONS
BRAND MESSAGE
“COMPANIES WILL THRIVE ON THE BASIS OF THEIR STORIES AND MYTHS.”
EMOTIONAL & SELF EXPRESSIVE BRAND ATTRIBUTES
² ² ² ² ² ²
LUXURY HIGH QUALITY SCIENTIFIC SAFE YOUTH GOES DEEPER
² ² ² ² ² ²
CELEBRITY GLAMOUR ACCEPTANCE LOVE STATUS CONFIDENCE
GO TO MARKET STRATEGY
SITUATION | ANALYSIS | RECOMMENDATIONS
POTENTIAL PACKAGING & DESIGN
GO TO MARKET STRATEGY
SITUATION | ANALYSIS | RECOMMENDATIONS
LEVERAGE THE POWER OF AUTHORITY WITH CELEBRITY ENDORSEMENT ENSURE STICKINESS OF MEDIA IMPRESSIONS AND SPEED OF PRODUCT TRIAL THROUGH CELEBRITY & CELEBRITY DERMATOLOGIST ENDORSERS § Enhances message recall, brand recognition, and positive attitudes toward the brand! § Creates a personality for the brand that favorably influence consumers’ feelings, attitudes and purchase behavior ! § Achieves this through…! § Source Credibility! § Source Attractiveness! § Meaning Transfer !
GO TO MARKET STRATEGY
SITUATION | ANALYSIS | RECOMMENDATIONS
CONSISTENT IN-STORE EXPERIENCE
DELIVER PREMIUM POSITION WITH IN-STORE EXPERIENCE ! ! § § § § § § §
Clinical (Scientific)! Pure/Clean ! Luxurious! Comfortable! Welcoming! Knowledgeable staff! White robes !