Market Research Paper: Parker Pen Company Joshua Avenall Professor Jane Dorn
Parker Pen Company Company Overview and History The Parker Pen Company is a manufacturer of luxury writing utensils that include Ballpoint, Rollerball, Parker 5TH and Fountain pens, along with refills for these products. Parker products are currently sold Online or at specialty retailers although some of their cheaper ballpoint pens can be found at retailers such as Office Depot. Their most inexpensive pen is listed at $18.32, while their most expensive pen is listed at $590.00. Parker products are also hand made, which is very apparent when you feel and write with one of their pens; mass-produced machine-made pens do not come close. The Parker Pen Company was founded in 1888 by George Stafford Parker when he invented the “lucky curve� fountain pen design, which draws excess ink back into the pen when it is not being used. The design was revolutionary, but it was the only innovation that Parker would create; in 1931 Parker created Quink (Quick Drying Ink) which eliminated the need for blotting while writing, and even today all Parker fountain pens use Quink. In 1941 the Parker Pen Company released the Parker 51, the number 1 selling fountain pen of all time. In 1993 The Parker Pen Company was bought by the Gillette Company, which sold it to its current owners, Newell Rubbermaid, in 2000. A close-up of the nib on a Vintage Parker 51 Fountain Pen.
Market Research Paper: Parker Pen Company Joshua Avenall Professor Jane Dorn
Parker Pen Company Current Products Currently the Parker Pen company sells a variety of pens under a variety of lines. Ballpoint pens are available in the Facet, Executive, Esprit, Frontier, Urban, I.M., Jotter and Vector lines, which range in price from $18.00 to over $300. Rollerball pens are available in all the same lines as the ballpoint pens and range in price from $45 to over $400. Parker 5TH is available in the I.M, Ingenuity, Sonnet and Urban lines; prices range from $150 to $300. Fountain pens are sold in the Duofold, Premier, Sonnet, Facet, Esprit, Urban, I.M., Vector and Jotter lines. Prices range from $35 to over $500.
Market
A close-up of the nib on a Parker Urban Fountain Pen.
The Parker Pen Company markets its pens toward mainly wealthy people, perhaps corporate executives judging by the wording they use to describe some of their pens. This also appeals to an older age group like 50s and older which is also addressed by the history and quality that the Parker is proud of. The Parker Pen Company also markets their pens to the upper-middle class market, which is evident because of the less expensive pens which use stainless steel and instead of gold or platinum. Men and Women are both targeted to by the pens, in-fact some models are especially made for men and women. The target market of the Parker Pen Company is older people, mostly likely with a “white collar� job and with an abundance of money.
Market Research Paper: Parker Pen Company Joshua Avenall Professor Jane Dorn
Parker Pen Company Competitors There are some competitors that the Parker Pen Company has to deal with. A few are the A.T. Cross Company, Pilot, and Mont Blanc. The A.T. Cross Company sells pens at the same cost as many Parker products, so the A.T. Cross Company targets the same market as Parker. Mont Blanc is the opposite end of the spectrum with pens costing thousands of dollars, so they target a wealthy market. When most people think of nice pens, Pilot Pen does not come to mind. But Pilot has both cheap and expensive pens, which expensive pens being sold under the Namiki name. Some of the pens sold under the Namiki name cost $15000! In that sense the diversity of Pilot Pen reaches out to anybody in the pen market whether looking for a disposable ballpoint pen, or a Luxurious fountain pen.
Stakeholders
A close-up of the nib on a Cross Aventura Blue Fountain Pen.
There are a lot of people affected by the success of the Parker Pen Company. Employees of the company will be out of work if it goes belly up, and that also affects Newell Rubbermaid, its stockholders and its board of directors. Conversely Parker Pen Company’s competitors and their owners/stockholders would benefit if Parker Pen closed. Retailers and the people who purchase Parker products would be affected as well, although not to the same degree as if a company like P&G went under.
Market Research Paper: Parker Pen Company Joshua Avenall Professor Jane Dorn
Parker Pen Company Directions of a Re-brand There are many possible directions that a re-brand could take and it is uncertain at this time what direction will be taken; however, here is a list of initial ideas. Some of these paths may be taken or none may be taken, it is unknown at this time. Expand target market just as Pilot Pen has Create a line of stationary to complement the Parker Pen Company Advertise, Advertise, Advertise Play of the history of the Company with new pens recalling classic designs of the past
Touch-points Some possible touch-points include, but are not limited too, New name, New logo, Stationary, Pen maintenance kits, Pen display/storage cases and General office supplies such as Staplers, Wall calenders, Desk calenders, etc.
Sources http://www.parkerpen.com/en-US http://www.cross.com/pens-and-pencils.aspx http://www.montblanc.com/en-us/default.aspx?sc_lang=en-us http://www.pilotpen.us/ http://www.namiki.com/collections/ Parker Logo from Brandsoftheworld.com Image on right from http://www.theonlinepencompany.com/product_ images/P_Premier_Chiselled_GT_FP_L.jpg