PureBella_FINAL
Transcript of PureBella_FINAL
“Encouraging women to take control of their health by
practicing preventative self-care with natural ingredients.”
Team5:AlexandraMcDonald
LuqiKongVanessaZapata
YaelLubarr
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TableofContents
EXECUTIVESUMMARY 3
STATEOFTHEBUSINESS 4
MACRO-ENVIRONMENTALANALYSIS 5MICRO-ENVIRONMENTALANALYSIS 7COMPETITIVEANALYSIS 9
MISSIONANDVISION 11
GOALSANDOBJECTIVES 11
NON-FINANCIAL 11FINANCIAL 12
STRATEGICINITIATIVESANDRATIONALE 14
TARGETMARKET 14SEGMENTATION 15POSITIONING 15
TACTICSANDRATIONALE 17
PRODUCT 17PRICE 18PLACE 18PROMOTION 20
FINANCIALIMPLICATIONS 23
KEYMILESTONES 23
CONTINGENCIES 24
REFERENCES 25
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ExecutiveSummaryPureBellaGreen&NaturalLivingProductsisaself-careproductlinemadeupofall-naturaland
organicingredientsthatmainlyfocusesonoralcareandeyeglassescleaningproducts.Itwasdevelopedandfoundedbyonewomanwhobelievesinthebenefitsofusingall-naturalproductsmadewiththehighest-qualityplant-basedingredientsandessentialoils,tosupportandsustainahealthy,holisticlifestylethatalsoempowerscustomerstopracticepreventativeself-care.Ourteamcreatedaneffectiveandefficientmarketingplanandbusinessstrategythatwillbuildbrandawareness,tapintoanormallyunderutilized,(yetlucrative),targetmarketsegment,attractmanymorepotentialcustomers,enhanceexistingcustomerrelationships,gathervaluabledatatodiscoverconsumerinsightandvaluablebuyingbehavior,whilesimultaneouslyboostcompanysales,revenue,inventoryturnover,andprofitmargin.WecreatedaSWOTanalysisinordertohoneinonwhatappropriatemarketingstrategiesshouldbeimplementedtotakeadvantageofinternalstrengthsandexternalopportunities,whilereducingasmanyexternalthreatsandinternalweaknessesaspossible.Currently,thefounderandCEO'spersonalstoryholdsemotionalresonancewithcustomersandboostssales,andmanypeoplefindtheproductdesignandpackagingaestheticallypleasing.Unfortunately,thisisanichemarketthatishighlycompetitiveandthecompanyhaslowwebpresence,almostnobrandawareness,anon-specificproductlineandtargetmarket,andzeromarketshare.TheyarealsonotFDA/ADAapproved.Thatiswhywebelievethatbytargetinghealth-conscious,uppermiddle-classwomenwhoareexperiencinghormonalchangesduringvariouslifestageswillboostsalesintheall-naturaloralcareproductsandbuildbrandawarenessandloyaltyamongtheholistic/homeopathiclifestylecommunitywithintheNewYorkCityarea.Immediatenon-financialmarketinggoalsinclude:
● Create 60% product awareness among our chosen target markets by years’ end ● Attendance and visibility twice a month (if situations permit) at either holistic health and wellness
trade shows, farmers markets, and wellness parties● Create partnerships with at least 5 “Mom and Pop,” independently-owned/small business health
food locations and homeopathic centers in ManhattanImmediatefinancialgoalsinclude:
● Break-even in 12-months after implementing marketing strategies ● To generate a large enough revenue to cover expenses from marketing, manufacturing, and
distribution● Gain a 3% growth in market share in the oral care market at second year end (24 months) after
implementing marketing and branding strategies ● 100% increase in oral care products sales based on past sales (known only to company
founder) by years’ end. Effective marketing and sales tactics also involve the use of bundling packaging, implementation of a member rewards clubs, customer data collection, a monthly newsletter, offering of free samples, a stronger social media presence, and video tutorials on the company website. We believe that after our analysis of the industry and the competition, by utilizing these specific strategies and marketing tactics, PureBella will see a visible increase in ROI as well as in brand recognition within the holistic, health and wellness community.
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StateoftheBusinessMacroenvironmentalanalysisisfirstconductedinordertodetermineopportunitiesand
threatsofall-naturalandorganicproductswithintheoralcareindustry.Itisimportanttounderstandthetrendsthatoccurwithintheindustry,usuallyduetothevolatileandunpredictablenatureofthemarket.Internalstrengthsandweaknessesareuncoveredbymicro-environmentalfactors.Combinedwithcompetitiveanalysis,appropriatemarketingstrategiescanbedevelopedbytakingadvantageofinternalstrengthsandexternalopportunities,whilereducingasmanyexternalthreatsandinternalweaknessesaspossible.Purebella’sSWOTanalysisisprovidedinFigure1.
STRENGTHS
● FounderandCEO'spersonalstoryandpassionfortheproductlinedrivessales
● Personalandprofessionalconnectionswithdentists’officesandopticalstores
● Attractiveproductdesignandpackaging
WEAKNESSES
● Unspecificproductlinewithnocentralfocus● Nospecificcharityhasbeenchosenyetto
receiveproceedsfrompurchases,eventhoughthereisreferencetothisonwebsite
● Vaguenessintermsofexacthealthbenefitsofproducts
● Noclinicalresearchdoneonproducts● Lowweb/socialmediapresence● Nospecifictargetmarket● Nobrandrecognitionorawareness
OPPORTUNITIES
● Womenwhoexperiencehormonalchangesthataffectoralhealthduringdifferentlifestages(puberty,pregnancy,menopause)wouldbeidealtargetmarketfororalcareproducts
● IncreaseinUShealth-consciousconsumers● Consumersarewillingtopaymoreforproducts
committedtosocialresponsibility● Consumersarecurrentlypayingmoreattention
tooralhygiene,specificallynatural/organicbrands.
● Women50+haveahigherdisposableincome● Pregnantwomenlikelytospendmoreon
naturalbrands,orswitchbrandloyalty
THREATS
● Nichemarket● Customerbasehaslowbrandloyalty,sohigher
occurrenceofswitchingtoanotherproduct● NotFDA/ADAApproved● Highlycompetitivemarket● Muchhigherpricepointcomparedtosimilar,
lessexpensiveproductssoldbycompetitors
Figure1-SWOTTable
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Macro-EnvironmentalAnalysisMacroenvironmentalanalysisisconductedtounderstandthetrendsanddevelopmentofthenatural/organicpersonalcareproductindustry.4relevantmacrofactorsare:
● Demographic● Social-Cultural● Economic● Legal
Opportunities
Demographic
Thefemalebodyexperiencesmanychangesthroughoutthedifferentstagesofawoman’slife,moresothanmen.Forexample,hormonalfluctuationsthatoccurduringpuberty,pregnancy,andmenopausegreatlyaffectoralhealthandcausediscomfort,aswellasputwomenatahigherriskforgumdisease.AccordingtotheEuropeanAssociationofDentalPublicHealth,around60-75%ofall women experience gingivitis during their pregnancy. If untreated, gingivitis can lead toperiodontitis,amoreseriousformofgumdisease.Researchalsosuggestsalinkbetweenpreterm,lowbirthweightbabiesandgingivitisduringpregnancy.Furthermore,duringmenopause,womenaremoresusceptibletooralproblems,experiencingaburningsensationontheirtongueandgums.That iswhykeepingtheirmouthcleanbybrushingwith fluoridetoothpaste twiceaday, flossingthoroughly, and rinsing with antiplaque and fluoride mouthwashes is recommended to thesewomen by their dentists in order to help maintain and improve their oral health during thesespecificlifestages.
Morespecifically,hormonal fluctuations thatarisewithmenopauseandpregnancycancausedry mouth, which can be handled by drinking more water and rinsing the mouth more often.ResearchersYalcinetal.evaluated348womeninamenopausalclinicfortheiroralcomplaints.Themost common symptomwas oral dryness. In a study from Turkey, Yalcin et al. investigated thesalivaofasmallgroup(n=14)ofmenopausalwomenandthesamenumberofpre-menopausalcontrolsandobserved that salivary flowratedecreasedatmenopause.Thesehormonal changesandrenewedattentiontooralhealththereforemakewomenanappropriatetargetdemographicforPureBellaoralcareproducts,especiallyforthemouthwashandmouthnourishingpowder.
Pregnant women are also an appropriate target market for PureBella’s glass and screencleaningproducts.Whenresearchersexaminedtheumbilicalcordbloodof10U.S.babiesborninAugust and September 2004, they founda total of 287 industrial chemicals.Of those, 180werecarcinogens; 217were toxic to thebrain. “Numerousenvironmental contaminants can cross theplacental barrier. To a disturbing extent, babies are born pre-polluted”, a National Institutes ofHealthreportnoted.“Whenpregnant,women’sbodiesbecomeaninteriorecosystemthatexistsincommunionwith theexteriorecosystemwe inhabit.Whatever is in theenvironmentgets insideus”, said ecologist Sandra Steingraber, the author of “Having Faith”. Thus, it’s important forpregnant women to make the greenest choices possible by selecting natural materials andrecognizablesubstancesoverman-madematerialsandunpronounceableingredients.Onetipisto
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useall-naturalcleaningproductsaroundthehouseinsteadofusingproductswithharshchemicalsinthem,whichopensopportunitiesforPureBella’scleaningproduct line,specificallytheeyeglasscleaner,screencleaner,andtoothbrushsanitizer.
Socio-Cultural
Expertsfromtheglobalorganicpersonalcareproduct industryobservedthatthedemandfornaturalandorganicproductshasriseninthepastfewyears,reportedlyduetothewideconcernsregardingpersonalhealthandhygiene.ArecentmarketreportpublishedbyTransparencyMarketResearch titled “Organic Personal Care ProductsMarket for Skin Care, Hair Care, Oral Care andCosmetics - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2012-2018,”analyzed the overall global demand of organic personal care products. This organic and naturalpersonalcareproducts reportestimates that$7.6billionwasmadeby theorganicpersonalcareproductsindustryin2012,andisexpectedtoreach$13.2billionby2018.Additionally,distributionchannels for the release of new products has widened to include faster product developmentoptions,allowingcompaniestocloselyfollowconsumerdemand.Naturalbrandsarealsoappealingto health-conscious consumers when they use USDA Organic ingredients, become Non-GMOProjectVerified,andcatertospecialdietsincludingvegan,gluten-freeandPaleo.
For theoralcaresegment,consumersarepayingmoreattention tooralhygieneoverall,andmanyareeitherseekingoutnaturaloptionsforthefirsttimeorgivingthiscategoryasecondlook.As proof, SPINS reports that year-over-year sales of natural oral care products increased by animpressive26.7% in2014.Thenewgenerationofproducts tastegood, freshenbreath,and fightbacteriaandplaquewithinnovativenaturalingredientsinsteadofcausticsynthetics.Theyrelyonxylitol,neem,seasalt,peppermint,andevencocoainlieuoftriclosan,alcohol,artificialcolorsandfragrances,oranyotherpotentiallyharmfulingredientfoundinconventionaloralcareproducts.Anothertrendworthnoticingisthatconsumersarewillingtopaymoreforproductlinesthatarecommitted to social responsibility and sustainability. 55% of global online consumers across 60countriessay theyarewilling topaymore forproductsandservicesprovidedbycompanies thatarecommittedtopositivesocialandenvironmental impact,accordingtoanewstudybyNielsen.Thepropensitytobuysociallyresponsiblebrands isstrongest inAsia-Pacific (64%),LatinAmerica(63%)andMiddleEast/Africa(63%).ThenumbersforNorthAmericaandEuropeare42%and40%,respectively.
Economical
AccordingtoEuromonitorInternational,in2030,theglobalaverageannualdisposableincomeforwomenwillreachUS$9,853(inconstantterms),whichwillbe51.2percenthigherinrealtermsthanthefemaleaveragedisposableincomein2013.TheEsrireportshowsthatdisposableincomeperhouseholder is thehighestbetweenages45-54 yearsold,whichmakesmarketingPureBellaproductstowardsmenopausalwomenalucrativeeconomicopportunity.
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Threats
PotentialCompetitionOnebigthreatfacedbyPureBellaistheeaseofentryintothenichemarketofnatural/organic
personal care products, aswell as the potential that larger competitors have to eventually reapmostofthebenefitsfromthisnewmarket.Inalmosteveryindustry,marketnichesaredevelopedby start-ups and turned intomassmarkets bymerchandisers and largely established companieswhohave theproduction scale, largemarketingbudget, and the salesanddistributionnetworksthatstart-upslack.CompaniesincludingTom’sofMaine,Nature’sChoice,Jason's,andTheHonestCompanyallsellsimilarproductslikePureBella.IftheymarkettheirproductstothesametargetedcustomersofPureBella at a lowerpricepoint,whilematching thequalityof ingredients, gainingmarketsharewillbedifficultforPureBella.
Customerdisloyalty
Manycustomerspickbrandsbasedoncurrentsituationalneeds.Forexample,pregnantwomenmaynothaveoralhealthproblemsfollowingthebirthoftheirbaby,andit ishighlypossiblethattheywillnotbeconcernedwithbuyingnaturalmouthwashproductsonce thebaby isborn.Thesame situation may also happen for postmenopausal women. These highly fluctuating types ofbuyingbehaviorwillmost likely lead toa loss inexistingPureBella customers, andas a result, adecreaseinsalesandrevenue.
Legalrisk
PureBella’sproductshavenotundergoneany clinical trialsor research inorder toproveanydefinitive results, nor are they FDA/ADA approved. The brandmarkets its products only as all-naturalandorganic.However,iftheproductsareessentiallynotas"pure"asoriginallystated,andclaim to kill bacteria or plaque, or are found to cause any type of allergic reaction or adverseresults,consumersmayfilealawsuit,whichposeslegalrisk.
Micro-EnvironmentalAnalysis
Micro-environmentalanalysishelpstodiscovertheinternalstrengthandweaknessesofthe
company.Itiscompany-specificandprovidesinsightintotacticalandstrategicmarketingstrategies.
Strengths
Marina’sStoryPureBella’sbigstrengthcomesfromitsfounderandCEO,MarinaDorfman.Asaprofessionalin
financial services (UBS,CitiGroup,andBankofAmerica) fornearly20years,Marina isalsoverypassionateabout thehealthandwellness industry.Shewasonceaballetdancerandhasalwayskeptanactivelifestyle.Asaresultofhergreatpassionforhealthylivingandholisticwellness,she
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diddeepresearchovermanyyearsinall-naturalandorganicingredientsandtheirhealthbenefits,resulting in the creation of her own formula for eyeglass cleaner and mouthwash. She thencollaboratedwith a local boutiquemanufacturer in order to startmanufacturing and selling herownproductline,namedPureBella,afterhermother.In2015,Marinafirstintroducedhervegan,non-commercialproductstoseveraltradeshowsandgainedpositivereviewsfromcustomers.Asanambassador forhealthy lifestyle,Marinaempoweredpeoplewithherownall-natural,holisticlifestylestory.
Connectedtodoctorsandopticalstores
Introduced to several doctors (for oral care products) and local optical stores (for eyeglasscleaningproducts)inNYC,PureBella’sproductswerepopularwithitsfirstcustomers,whohavetheability toadvertisetheproduct linethroughwordofmouth(WOM)totheir familiesandfriends,thusattractingmorebuyers.Thesuccessofexistingindirectdistributionchannelsalsoservesasthebasisforfurtherexpansion.
ProductDesign
PureBella’s products contain appealing characteristics and attributes that many customersvalue.Made with all-natural and organic ingredients (ionic traceminerals, xylitol, essential oils,etc.), customers will stay safe without being exposed to chemicals and industrial materials.Essentialoils,suchaslavender,areusedforaromatherapyintheeyeglassescleaner,whichhelpstorelaxthemind.Thepackagingispretty,feminine,andveryportable,allveryalluringforwomenduringthepurchaseprocess.
Weaknesses
Unspecificproductlinewithnocentralfocus
PureBella has two major product lines. The first focuses on oral health, and includesmouthwash and mouth nourishing powder. The second is for cleaning products, and includeseyeglasscleaner,screencleaner,atoothbrushsanitizer,andacleaningcloth.Butthereiscurrentlynospecificationonwhichproductlineisthemainfocalpoint,makingplacementinstoresandthemarketingfocusdifficult,giventhelimitedtimeandcapital.
Noclinical-basedevidence
OnemajorproblemofPureBella’sproductsisthattheformulahasnotundergoneanytypeofclinical research. The product description is vague and since there is no proof as towhat theseingredientsdoorhowexactlytheywork,manypotentialconsumersmaydeemituntrustworthyorineffective,evenascamofsorts.ThisisespeciallytroublesomeandchallengingforPureBellawhencomparing their products to their competitors, some ofwhomdo include focused product lineswithspecifiedingredientsthatinvolveevidence-baseddescriptionsandprovenresults.
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NocurrentspecifictargetmarketThecurrent targetcustomers,accordingtoMarina,arebetweentheagesof20-60yearsold,
upper-middle-classmenandwomen,whoarealsopatronsofthemajororganicsupermarketchainWhole Foods.We believe this age range is too broad and does not take into consideration thespecific needs of different age groups (like teens, young parents, retirees, etc.). In addition,webelievethattargetingwomenovermenwouldbeamorereasonableapproachsincewomenaremorepronetooralhealthissuesthanmenduringchangeswithintheirlifecycle.Furthermore,thePureBella’s products seemed to be designed specifically for women, especially in regards to itspackaging. Ultimately, without specific and segmented targeting, these products are unlikely toreachthemostappropriateandprofitablecustomers.
LowWeb/SocialMediaPresenceandnobrandrecognitionorawareness
PureBellacurrentlyhaslowpresenceonsocialmediawithfewfollowers,aswellaslowbrandrecognitionor awareness.As a result, thenumberof visits to itswebsite (myPureBella.com, theprimarysaleschannelonline)issmall,whichinturnlimitsanincreaseinonlinesales.
CompetitiveAnalysis
Presently,PureBellafallsintotwodifferentcompetitivemarkets,butforthepurposeofthismarketingcampaign,wewillbeconcentratingontheall-natural/organicoralcareproducts.ThemarketforNaturalOralCareProductsemergedfromthetrendthatoccurredwhenAmericansbecamemoreawareandeducatedintermsofwhattypesofingredientswerefoundintheirdailyoralcareproducts,manyofwhichwerehazardousandsyntheticchemicals.Thisconsequentlyledtothedevelopmentandbroaderacceptanceofthe“all-naturalandorganic”trend.ThatisthemarketthatPureBellacurrentlyfallsinto,anditisahighlycompetitivemarket,withmanycompaniescompetingforhighmarketshare.ThecurrentmarketleaderistheoriginalTom’sofMaine,acompanythatwasestablishedthe1970's,andcontrols60%ofthemarketshare.
Thecompetitorschosenforthecompetitorcomparisonchart(Figure2)werechosenaccordingtosimilaritiesinproductofferings,targetmarket,andbrandmission.Thecompanieschoseninclude:Tom’sofMaine,HelloProducts,Jason’s,andTheHonestCompany.Whencomparedtothesecompetitors,PureBellaisun-favoredincertainareas,andfavoredinothers.AreasFavored:
● Packaging–Attractivedesignandaesthetics● IngredientChoice–Uniquenessofionictraceminerals● Homeopathicandhealth-consciouslifestyleclearlyportrayedthroughuseofproducts● Specificationoforalcareproductlineanditsdifferentuses
AreasUn-favored:● Price–Pricepointmuchhigherthancompetitors● PlaceofDistribution–Notaseasilyaccessibleasotherproducts,andonlyonenotsold
nationally
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● ProductAssortment–Cannotbuymultipleproductsfromonebrand● Website–noteasilyfound,makesshoppingprocessdifficult● HealthBenefits–NotFDA/ADAapproved,noinclusionofingredientexplanations/benefits
Competitors ProductOfferings PricePoint Strengths
Tom’sofMaine OralCare:Toothbrushes,Toothpaste,MouthWash,
andFlossBodyCare:Baby,Body
Lotion,LipCare,Deodorants,andBeauty
Bars
$.099-$5.99acrossalloralcareproducts
-HighBrandRecognition-Trustednaturalbrand
-Easilyavailableatdifferentlocations-Recommendbydentists
-Inexpensive-HighQuality
HelloProducts OralCare:AdultToothpaste,Children’s
Toothpaste,Toothbrushes,Breath
Spray
$2.99-$4.49acrossalloralcareproducts
-Packaging-WebsiteDesign
-In-Storechoices:(Target,Walgreens,SupermarketChains)
-Inexpensive-ADAApproved-HighQuality
Jason’s OralCare:ToothpastesandMouthWash.
Face,Body,Hair,Sun,andChildrenCareproductlinesavailableaswell
$5.99-$9.79acrossalloralcareproducts
-In-storelocations(RiteAid,Walgreens)-Onlinelocations(Amazon)-Extensiveproductline
-Promotionthroughpublications-BrandRecognitionintheholistic,health-consciouscommunity
-HighQuality
TheHonestCompany
OralCare:ToothpasteBodyCare:Lotions,SunProtection,Haircare,
VitaminsBabyCare:Diapering,Feeding,andBabyGearCleaning:All-Natural
HouseCleaningProducts
$3.95-$5.95acrossalloralcareproducts
-AssortmentofProducts-BrandRecognition
-Packaging-Offersaccessibilitythroughproduct
trials-HighQuality
PureBella OralCare:ToothPowder,MouthWash,andDentalAppliance/Toothbrushcleanerandsanitizer
$13.00-$14.00acrossalloralcareproducts
-Femalefocusedpackaging-Onlymouthwashwith“ionicminerals”
-Onlyonethatcarriesasanitizer-HighQuality
Figure2-CompetitorComparisonChart
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MissionandVisionMission
“Encouragingwomentotakecontroloftheirhealthbypracticingpreventativeself-carewithnaturalingredients.” Byprovidingthesenaturalanduniqueingredientstoconsumers,PureBella’spurposeistoencouragecustomerstobeproactivewhilepracticingpreventativeself-care,whilesimultaneouslyassistingtheminunderstandingthehealthbenefitsoftheseproducts.Womenwillthenbeawareofwhattheyareputtingontheirbodiesandhowitisfacilitatingtheminboththeirhealthandtheirwell-being.
Vision
“Tobecomeanambassadorofhealth-conscious,holisticlivingbyeducatingandempoweringourconsumerswiththebenefitsofnaturalproducts.”
Througheducatingandempoweringtheircustomerswiththeknowledgeofthebenefitsoftheirnaturalproducts,PureBellacanbecomeabrandambassadorofthehealth-consciousandholisticlifestyle,andincreaseawarenessoftheadvantagesofusingall-naturalself-careproducts.Allowingthecustomerstounderstandwhytheseproductsarebeneficialandhowitcanpositivelyaffecttheirlivescanassistthehealthandwellnesscommunityinimprovingtheirhealthandthewaytheyfeel,knowingtheyaredoingsomethingworthwhilefortheirbodies.
GoalsandObjectivesPureBellaisstrivingfortheircustomerstotakecontroloftheirhealthbyusingall-
natural/organicproductsfordailycleaningandpersonalcareneeds.PureBellashouldthereforeestablishtoaccomplishbothnon-financialandfinancialgoalsinordertosuccessfullydeliveronitsmission.
Non-FinancialAnon-financialgoalforPureBella(Figure3)istoconsiderthepenetrationandawarenessof
theirbrand.Itshouldestablishanobjectivetocreateproductawarenessof60%byyears’end(12months).Themajorityoftheproductawarenessshouldbetargetedtowardswomen.Tocreateproductawareness,PureBellashouldconsidergettingasponsorshiporpartnershipswithwomen’swellnesscharitiesinthefirstsixmonthsoftheirnewmarketingimplementations.Thecompanyshouldalsoscheduletwiceamonth,ifthesituationpermitsit,toattendholistichealthandwellnesstrade
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shows,farmer’smarkets,and/orwellnessparties.ParticipatingintheseeventswillenablePureBellatointroducetheirnaturalproductsinarelaxingandfunenvironment. Furthermore,PureBella’sobjectiveshouldalsobetoconsidercreatingpartnershipswithatleastfive“MomandPop,”independently-owned,smallbusinesshealthfoodlocationsandhomeopathiccentersthroughouttheNewYorkCityarea.Byhavingtheselocationsselltheirall-naturalandorganicproducts,PureBellawillcontinuetopromoteitsbrandnameandcreatebrandawareness,resultinginattractingpotentiallocalcustomerswhocanthenspreadwordofmouthreferralsonbehalfofthebenefitstheyhavereceivedfromtheseproducts.PureBellacouldthencollectfeedbacktounderstandwhatactionstotakeinordertoimprovecustomersatisfaction,shareofwallet,andfurtherbroadenitsbrandawareness.Byreceivingpositivefeedback,PureBellacanalsobeassuredthatthewordofmouthreferralsfromcustomerswillbebeneficialandhopefullyboostsales.
Figure3-Non-FinancialGoalsTable
FinancialPureBella’sfinancialgoals(Figure4),basedontheinformationwehavecollected,istobreak-
evenin12monthsafteritimplementstheserecommendedmarketingstrategies.Sinceweweretoldthereiscurrentlyaverysmallpercentageofsales,anyprofitthatismademustbeinvestedbackintocompanymarketingeffortsinordertoassistintheircontinuingeffortstoreachpotentialcustomers.Bydoingso,PureBellacangeneratealargeenoughrevenuetocovertheexpensesformanufacturinganddistributingtheproduct,leadingtoanincreaseintheircustomerbaseandresultinginsalesthataccomplishitsgoalofbreakingevenatyears’end(12months).PureBellashouldalsotrackthecorrelationbetweenitsmarketingeffortsandapossibleincreaseinsales,andadjustaccordingly.
ItisimportantforPureBellatoconsidertheamountofunitsthatneedtobesoldtoaccomplishitsfinancialgoal.PureBella'sobjectiveistoincreaseunitsalesby100%intheoralcareproducts,based
Non-FinancialGoals
1. Penetration/Awareness● Create 60% product awareness among our chosen
target markets by years’ end
2. Sponsorship/Collaborations
● Connect with a women’s wellness charity in the first 6 months of implementation
● Attendance and visibility twice a month (if situations permit) at either holistic health and wellness trade shows, farmers markets, and wellness parties
3. In-StoreLocations
● Create partnerships with at least 5 “Mom and Pop,” independently-owned/small business health food locations in Manhattan
● Create partnerships with homeopathic centers also in the NYC area
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onprevioussales.ThiswouldallowPureBellatodoubleitsproductssold,whichincreasesitsoverallsalesandarepresentationofanimprovementincustomerbase,sincemoreconsumersarepurchasingtheproducts. AnotherobjectiveforPureBellaistogain3%marketgrowthintheoralcaremarketatthesecondyears’end,afterimplementingtheserecommendedmarketingandbrandingstrategies.Sincetherearenospecificnumbersgivenoftotalcompanysalesduringanygivenfiscalperiod,PureBellafuturemarketgrowthisestimatedtoanapproximatepercentage.Toestimatethisfuturemarketvolume,wecollectedinformationfromCosmeticandtoilerties.com,stating“therewillbeacompoundannualgrowthrateof9.8%from2014to2020,”estimatingat1.6%eachyear.Basedonthiscalculation,PureBella’smarketgrowthcanberoughlyestimatedto3%bythesecondyears’end(24months). Inordertoaccomplishthesemarketingobjectives,westronglysuggestthatPureBellaconsidersthesebenchmarkstomeasureandsecureitsprogress.Havingthesebenchmarkstoregularlymeasuresalesrevenueandprovideconsistentfeedbackwillsteerthecompanytowardsthemostprofitablepath,andprovidePureBellawithcustomerinsight,enablingthemtobettercatertotheirtargetmarket’sneedsandincreasebrandawareness.
Figure4-FinancialGoalsTable
FinancialGoals
1. Profit
● Break-even in 12-mos after implementing marketing strategies
● Any profits made will be invested back into marketing efforts
2. Revenue● To generate a large enough revenue to cover expenses
from marketing, manufacturing, and distribution, in order to break-even at years’ end.
3. MarketGrowth● Gain a 3% growth in market share in the oral care market at
second year end (24 months) after implementing marketing and branding strategies.
4. UnitsSold ● 100% increase in oral care products sales based on past sales (known only to company founder) by years’ end.
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StrategicInitiativesandRationaleStrategicinitiativesprovidearoadmapandanoverallapproachfortacticalstrategiesfor
PureBella.Belowprovidesthestrategicinitiativesandrational:
TargetMarketCurrentlyPureBella’stargetmarketistoobroad,itincludesbothmenandwomenwhoare
upper-middleclass,andrangesfromages20-60yearsold.Afterweconductedresearchonboththeall-natural/organicoralcareindustryandthecompany'srelevantcompetitors,wefoundanuntappedmarket,naturaloralcareproductsspecificallygearedtowardswomen.Presently,oralcareproductsaremostlysoldtobothgendersandaremainlysegmentedbyage,gearedtowardstwodifferentagegroups,AdultsandChildren.
Theopportunitytoenterthemarketasaproductlinetargetingwomentapsintothelittleknownfactthatwomenexperienceoralheathissuesoverthecourseoftheirlife,duetodifferenthormonalfluctuations.Afewprenatalproductlinesdoaddresssomeoftheoralhealthissuesexperiencedbypregnantwomen,butforthemostpartthemarkethasyettofullyaddressallthechangesawomanmayexperiencethroughoutthecourseofalifetime,mainlyduringpubertyandmenopause.PureBella'sproductdesign,withtheuseofflorasonthewebsite,lightgreenandwhitecolorpackaging,andprettybluebottles,givesitadistinctivelyfemininelook,makingitanaturaladditiontoanywoman'svanitytable.
Thewomenthatwouldmakeupourtargetmarketwillalsobewomenwhoconsiderthemselvesheath-conscious,involvedinhealthandwellness,and/orlivinganatural/healthylifestyle.Thiscanincludebuyingonlyorganicorveganproducts,usinghomeopathicremedies,andpracticingyoga.ThesewomenwillbemoreopenandwillingtopayforPureBella’soralcareproductssincemanyoftheproductingredients,suchasessentialoilsandnaturalminerals,areallverypopularamongwomenwholivethistypeofhealth-consciouslifestyle.Thisdemographicisalsoknowntobewillingtostretchtheirincomesinordertopayforall-natural/organicproducts,whichisanopportunityPureBellashouldtakeadvantageof,duetothefactthattheyareproductssoldatahigherpricepointcomparedtotheircompetitors.Consequently,thistargetmarketwillneedtofallwithinthemiddletoupperclassdemographic,ensuringthattheydoinfacthavethedisposableincometoaffordtheseproducts.Thefollowingcomponentswillmakeupourtargetmarket:
● Women,ages15-65yearsold● Experiencinghormonalchangesthataffectoralhealthduetodifferentlifecyclestages,(such
as:puberty,pre/postnatal,pre-menopause,andmenopause)● Heath-conscious,livinganatural/healthylifestyle,reliesonhomeopathicremedies● MiddletoUpperMiddleclasswithahighdisposableincome
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Segmentation
Toconcentrateoncertaingroupswithinourtargetmarket,wedecidedtosegmentthetargetmarketbasedonvariouslifestages.Thiswasdonebecausetherearecertaintimesinaconsumer’slifewhenoneundergoesadrasticlifechange,eitherexternallyorinternally,andasaresultcanshiftpersonalpreferences.Whenthisoccurs,aconsumerismorewillingtochangepersonallongtimebrandloyalty,andisalsowillingtopaymoreforsimplehouseholdproducts.Duetoitshighprice,andspecific/uniqueproductline,PureBellashouldrefocusitsmarketingstrategyandtargetthewomenwhoareexperiencingnaturalyetsignificantchangeswithintheirlife.ThreelifestagesthatwebelievearemostrelevanttoPureBellaare:Puberty,Pregnancy,andMenopause.Thesestagesallaffectwomen,theirbodies,andmorespecificallytheirmouths,andarenotcurrentlyafocusamongmanyoralcareproducts.Ourtargetmarketwassegmentedintothefollowingthreegroups:
1. Child/Pre-TeenYears(12-16)a. Braces(causesdrymouth)b. Puberty(hormonalchanges)
2. PregnancyYears(20-40)a. DryMouthb. TeethandMouthSensitivity
3. MenopausalYears(50+)a. DryMouthb. TeethandMouthSensitivity
Positioning“All-naturalandorganicoralcareproductsthatfocusonrelievingtheoraldiscomfortandsensitivitycausedbytheuniquehormonalchangesawomanexperiencesthroughoutherlifetime."
Withthisupdatedfocusandtargetmarket,PureBellawillbeabletodifferentiatethemselvesamongahighlycompetitivemarket.Currently,PureBellahaslittletonobrandrecognitionordifferentiation,duetothehighnumberofnewentrantswithinthishighlycompetitivemarket.ThisnewtargetmarketandfocusthereforeutilizesthecurrentstrengthsofPureBellatothencreateandsupplementvariousdifferentiatingpoints.Belowwehavecreatedaperceptualmap(figure5)thatcomparesPureBellatoitsfourdirectcompetitors,recognizedbasedonAestheticsandWomenFocusedattributes,usinga1to5pointmetricscale.
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Figure5-NaturalOralCareBrandsPerceptualMap
BasedonthisperceptualmapitisevidentthatPureBellahasanattractiveaestheticwithitscleanproductdesignandprettypackaging,andsitsaloneasabrandthatiswomenfocused.BrandslikeTheHonestCompanycomeclosetobeingwomenfocused,butsincetheirprimarymarketisbabycaretheirtoothpaste’saregearedmoretowardsnewmothersandchildren.BrandslikeHelloProductshaveafun,hipdesignthatarehighlyattractive,butappealtoayoungerdemographic,bothboysandgirls.Tom’sofMaineandJason’sarebothlongestablishedbrandsthatofferalargeassortmentofproducts,withplainandsimplepackaging.Bothbrandsaremorefocusedtowardsattractingthewholefamily,notsimplyonegender.
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TacticsandRationaleThe marketing mix provides a tactical solution to the marketing strategy. In order to position
PureBella successfully in a niche market, customers must believe the products provide the best value and are unique, especially when compared to other more affordable all-natural/organic oral care companies. Properly communicating product, price, placement, and promotional details is key, ensuring that consumers truly see PureBella’s full value.ProductName:ThenamePureBellacanbesplitintotwowordsPureandBella.Puregivestheconnotationthattheproductsusedareall-natural,goodforthebody,(externallyaswellasinternally),andalsogivestheaddedimplicationofspiritualwellness.Bella,inbothSpanishandItalian,isthefemininesingularofthewordbeautiful.Ifthesamewordwouldbeusedinthemasculinesingular,itwouldbebello.Whenputtogether,bothwordsinfertheimageofahealthyandbeautifulwoman.Basedonthisreasoningwebelievethenameshouldstaythesame,andshouldnotbechanged,eventhoughtheuseofbothwordsareverycommonamongothersimilarpersonalcareproducts.ThenamealsoholdspersonalsignificancetocompanyfounderandCEOMarinaDorfman,sinceitisnamedafterhermother.Packaging:Thepackagingasitstandsrightnowisveryattractive.Thecurrentlogoincludesapersonintheyoga“treepose”creatinganactualtreewithgreenandorangeleaves.Thebottleandlabelsusefemininefontandcolorschemes.Thiswillbeattractivetoourrecommendedtargetmarket,sincemanyofthesewomendoinfactpracticeyogaandwouldfindthedesignquiteclean-lookingandappealing.ProductLineFocus:CurrentlyPureBellaofferstwounrelatedproductlines,oralcareandeyeglasscare.Themajorityoftheproductsofferedfallintotheoralcareproductcategory.Afteranalysisofthesmallamountofproductlinepromotionalreadydonebythecompany,itisevidentthattheoralcareproductsareeitherbeingignoredorareundervalued,promotedandsoldaftertheeyeglasscleaningproducts.Sincetheeyeglasscleanersseemtobesellingwell,weproposethatnewmarketingeffortsshouldbefocusedmoresolelyontheoralcareproducts,inorderforPureBellatobecomeamorecentrallyfocusedbrand,andtopromotetheproductsthatincorporateamajorityofPureBella’sinventory.ProductLineExpansion:Anadditionaldemographicthatwerecommendshouldbeincludedinthefutureasanotherpotentialtargetmarketincludeschildrenages4-10yearsoldandpre-teens.Aneventualcreationofachildren’soralcareproductlinewillcontainthesameproductsthatPureBellaiscurrentlyselling,butinchild-friendlysizes,andwithamorebrightlycolored,youthfuldesign.Thechildren'slinecaneitherbegearedtowardschildrenexperiencingoralhealthchangesthatoccurduringteethalignmentprocedures,orasahealthytoothpastealternativeforthechildrenofwomenwhoarealreadyexistingPureBellacustomers.
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Anintroductionofthebest-sellingoralcareproductsinspecial“travelsize”packagingisalsorecommended,tobedistributedinstores.Thiswillallowforsamplingamongpotentialcustomers,andatasmallerexpense.
PricePricing:ThenichemarketthatPureBellabelongstotendstoattractconsumerswhohavethehigherdisposableincometobuythesemoreexpensive,high-qualityall-natural/organicproducts,andwhoareconsideredtobepriceinsensitive.Currentproductspricescanthereforestaythesameuntilproductioncostsaredecreased.Yetonceproductioncostsarelowered,werecommendthatpricesshouldbeloweredinorderforthecompanytocompeteonasimilarpricepointastheircompetitors.Appealing:Althoughthesingleproductunitpricewillremainthesame,thereneedstobeanadjustmentconcerninghowthisexpensiveproductissold,inordertobeappealingamongthethetargetmarketsegmentwhoispricesensitive.Thesearestillpotentialcustomerswhoarewillingtomakepurchases,butcannotaffordthecurrentprice,deemingittooexpensive.Thatiswhypricingoncertainproductsshouldbediscountedthroughanewbundlebuyingsystemorwithinafrequentbuyerprogram,ormemberrewardsclub.BundlePackaging,andMemberRewardsClubareexplainedindetailinPromotion.
Place
Basedonpastsales,consumersweremorelikelytobuyPureBellaproductswhentheyhadtheopportunitytotouchandsampletheproductsinperson.SincethisisaNewYorkCitybasedcompany,werecommendthatPureBellaproductsshouldbesoldlocally,seeinghowmanyhigh-incomeNewYorkersareactiveinthehealthandwellnesscommunityandliveaholisticlifestyle.Wedonotrecommendplacingtheproductinanyhealthfoodstoresthatwillsellitnationally,sincebrandrecognitionhasnotbeenestablishedyet.Startingsmallismorerealisticforsuccessful,long-lastingbrandawareness.Wealsofeellikethisproductwillbemoresuccessfulifitissoldmorethroughpersonalreferralsandwordofmouth(WOM),bythosewithinthehealthandwellnesscommunity,notbyhealthcareprovidersinthetraditionalWesternmedicalordentalprofession.Theseproductsaregearedmoretowardssupportingahealthy,holistic/homeopathiclifestylewithall-natural/organicproducts,andtotrytoconvincetraditionalWesternmedicinedoctorsordentiststosample,promote,andevensellPureBellaproductsasahealthieroptionoverthecurrentlymass-produced,over-the-counterpharmaceuticalproductstheyusewillbeclosetoimpossible.ThisismainlyduetothefactthattherehasbeenzeroclinicalresearchdoneonPureBellaproducts,andtheycannotbesoldasremediesfororalhealthissuesinmostmedicalordentalofficeswithoutanyprovenresults.Sincesellingthroughhealthandwellnesstradeshowshasbeenasuccessfuloutletinthepast,werecommendthatthesevenuescontinuetobeadirectdistributionchannel,aswellasanewon-site
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retaillocationwheneveravailable.Wehavelistedotherpossibleon-siteretaillocationsbelow,aswellasanewmarketingstrategytopromoteandimproveonlinesales.On-SiteRetailLocations:
● “MomandPop,”independentlyowned/smallbusinesshealthfoodstoresintheNewYorkCityarea.
● Healthandwellness/holisticlifestyletradeshows● All-natural/organicfoodandproductstradeshow● Localyogastudios● Homeopathiccenters
o Homeopathicdoctorofficeso Homeopathicpharmacieso Homeopathicbirthingcenters
● FarmersMarkets
StrategytoimproveOnlineSales:InorderforPureBellatobecomesuccessfulonline,anewsellingstrategyneedstoestablished.ThemainreasonpeoplebuyPureBellaisduetothetactileandsensoryexperiencestheyhavewhenphysicallyhandlingandsamplingtheproductsinperson.Thatneedstosomehowalsobedemonstratedonthewebsiteandintheonlinestore.WebelievethefollowingstepsoutlinehowtheonlineexperiencecancloselyreplicatewhatisitlikewhenMarinasellsPureBellatocustomersinperson:
● AvideoofcompanyfounderandCEOtellingherpersonalstoryofhowandwhyPureBellawasfirstdeveloped
● Customerfeedbackavailableviavideooraswrittentestimonialsonthewebsite● Tutorialvideosshowinghowtousethedifferentproducts● A“trial”periodforcertainproductsinordertoallowpotentialcustomerstosamplethe
productsathomebeforemakingafullpurchase.TrialpromotionisdescribedinPromotionsection
Website:Sincethecompany'sonlinestorewillalwaysbeofferedasadirectdistributionchannel,somechangesneedtobemade.Currentlythewebsitehassomeerrorsthatneedtocorrected,otherwiseitmaycausethecompanytobeseenasunprofessionalorofpoorquality,orevenpossiblyintentionallymisleadingcustomers:
● URLName-CurrentlyitishardtofindthewebsiteunderthegivenURLmyPureBella.com,asopposedtothemorelogicalURLPureBella.com.ThiscausesthewebsitenottoappearfirstinaGooglesearch,andwhataddstotheconfusionisthatitisverysimilartothenameofanotherall-naturalbeautyline,namedPuraBella.OurrecommendationistochangetheURLandmakeiteasiertofindthecompanywebsiteduringanonlinesearch.
● CharityInvolvement-Currentlythewebsiteclaimstogiveapercentageofsalestocharity,butdoesnotincludethecharityname.Thefounderofthecompanyadmittedshehasnotyetchosenaspecificcharityyettodonateanyoftheproceedsfrompastorcurrentpurchases.Duetopossiblelegalissues,thisstatementshouldthereforeberemoveduntilacharityisinfact
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chosen,socustomersdonotfeelliketheyarebeingmisleadunderfalsepretenses.Falseadvertisementcouldleadtolossincompanyintegrity,sales,andrevenue,and/orleadtolegalrisks,allofwhichshouldbeavoidedatallcosts.
● Disclosure-CurrentlythereisasmalldisclosurehiddeninthewebsitethatstatesthatPureBellaproductsandtheirclaimsarenotclinicallytestedorresearched,butitneedstobemoreapparentinordertoagain,avoidanypossiblelegalissues.Manyhealthproductsincludethefalseclaimthattheyhelpsomeoneheal,whichcanleadtoapossiblelawsuitifprovenotherwise,orifusingtheproductcausesanyharmfulsideeffects.AfulldisclosurethattheproductsarenotFDA/ADAapprovedshouldalsobeincluded.
● Ingredients-Currentlynotalltheproductshaveingredientslisted,sothistransparencyshouldbemadeuniformonallproductbottlesandthewebsite,sinceamajorsellingcomponentofPureBellaproductsisthattheyaremadeofall-naturalingredients.Additionally,asupplementarywebsitepagethatclarifieswhatexactlytheselistedingredientsandtheirnaturalsourcesarecouldbeusefulforconsumers.CompetitorHelloProductsprovidesapageontheirwebsiteexplainingeachoftheiringredients,theirbenefits,andwheretheycomefrom.ThisshouldbeaddedtothePureBellawebsitesincesomeoftheingredientsarechemicals,andmanypeoplemaybeconfusedastowhat“ionicminerals”actuallymeans.
PromotionTrialWeek:Atrialweekofcertainproductsshouldbeofferedtogiveconsumerstheopportunitytophysicallyhandleandusetheproducts.OthercompanieslikecompetitorsHonestCompanyandTom’sofMaineoffersimilarpromotions.Travelorsamplesizesofeachoftheoralcareproductscanthenbemanufactured.Asanincentiveforpeopletobuyonline,ortoattractnewcustomers,thesetrialtravelsizeproductsampleswillbeofferedforfree,andcustomerswillonlypayasmallshippingfee.Inordertodoso,customerswillthenneedtocreateanonlineprofilewithPureBellathatwillincludetheirnecessarydemographicandcreditcardinformation.Thecustomerwillhavetheoptiontochoosewhichproducttheywanttosample,buttheycanonlychooseone.Whenthecustomerismakingthis“freetrial”purchasetherewillbeadisclaimerthatifthecustomerdoesnotcanceltheirsubscriptiontoPureBella,orcomplainabouttheproductinaweek’stime(fivebusinessdays),anassumptionwillbemadethatthecustomerenjoyedtheproductandwillthenbechargedandshippeda“fullsize”versionoftheproducttheychosetosample.Thiswillinitiatearelationshipbetweenthebuyerandthecompanythatmanysatisfiedconsumerswillhopefullycontinueandusetotheirfulladvantage.WellnessParties:Justlikethefamous“tupperwareparties”ofthe1950's,wellnesspartiesarenowacurrentfad.Thegroupsthatattendthesepartiesconsistmostlyofwomen,butalsomenwhoarepassionateabouthealthandwellness,andusenaturalororganicproductswithinaholisticlifestyle.Mostareastay-at-homeparentandhandlethemajorityofhouseholdpurchases,especiallywhenitcomestosimplehouseholdproducts,liketoothpaste.ThepartiescanbeheldatsatisfiedandloyalPureBellacustomers'homesandattendedbytheirfriends,orheldatoneofthelocationslistedabove,
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likealocalsmallhealthfoodstoreortradeshow,withpotentialcustomerswhoareinvitedviawordofmouth(WOM)oremail.Thewellnesspartieswillofferasmallselectionofnaturalandorganicrefreshments,andwillinvolvetheappearanceofMarinaoraPureBellarepresentativewhowillgivein-depthexplanationsofproductsandtheirbenefits,aswellastutorialsonhowtocorrectlyusetheoralcareproducts.Samplingoftheproductswilloccurafterwards.Attheendofthepartytheparticipantswillhavetheopportunitytomakepurchases,hopefullybuyingmultipleproductsinaprettybasketdisplay,inordertotakeadvantageofbundlepackaging,whichisexplainedbelow.BundlePackaging:Sincewecannotrelyontheentiretargetmarketbeingpriceinsensitive,discountopportunitiesneedtobeavailabletoconsumerswithoutchangingthesellingpriceofasingleunit.Wethereforepropose“bundlepackaging."Thesecanbeusednotonlyfordiscounts,butforgiftsaswell.Whenacertainnumberofproductsarepurchasedtogether,adiscountisappliedatcheckout,eitheronlineorin-store,andwillthenbepackagedinaprettybasketdisplay.ForthistobeprofitableforPureBella,theproductsthatwillbebundledwillcontainatleastonehighsellingandonelowsellingproduct.Additionally,thediscountappliedwillbesmallenoughthatasignificantprofitmarginisstillachievable.MemberRewardsClub:ThisclubcreatesmanydifferentprofitableopportunitiesforPureBella.Itwillnotonlycreateanopportunityforcustomerdatacollection,itwillalsocreateaplatformforMarina,thefounder,tobecomeateacherandbrandambassadorofthehealthy,holisticlifestylesheissoverypassionateabout.Thefollowingelementswillbefoundwithinthememberrewardsclub:
● DataCollection:Customer’sinformationsuchasage,gender,geographiclocation,andpastpurchaseswillbecollectedandsavedonacloudsystem.Allonlinecustomerswillbeincluded,aswellascustomerswhoshoppedin-storeandacceptedtheoffertobecomeamember.Gatheringdataoncurrentcustomersandpastsalesiscritical,sincethecompanycanusethisinformationtorevealinsighton:consumerneeds,buyingbehavior,relevantmarketingsegmentation,whatproductsarethemostsuccessful,orhowtoimproveanycurrentproductlines.Collectingandsavingthisdataisalsosignificantiffuturenationalexpansionistheendgoal,sincethisinformationwillhelpdevelopandimplementasuccessfulnationalmarketingplan.
● Discounts:Provideadiscount,onlyavailableforcustomerswhoprovetobemorepricesensitive.Discountscanbeofferedtofirst-timememberswhentheysignup.Discountscanalsobemadeavailableasrewardsforrepeatpurchases.
● CustomerRelationships:CollectingcustomerdatacanalsoleadtobettersegmentationofPureBella'stargetmarket.Thisinformationleadstofurtherinsightintothecustomer;sbuyinghabitsandpreferences,andbetterrelationshipsbetweenthecompanyandconsumerscanbeestablishedbyprovidingshopperswithsuperiorproductchoicesandresultinhighinventoryturnover.
● MonthlyNewsletterUpdates:Marinawasadamantaboutempoweringandeducatingpeopleregardingthebenefitsofusingall-natural/organicproductsforpersonalcare.Amonthlynewsletterwillgivehertheplatformtodojustthat,whichcanbesenttomembersofthe
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PureBellarewardsclub.Shecandecideontheexactcontentbutwebelieveitshouldincludeinformationonthecompany,thecharityshechoosestodonateto,detailsregardingherproducts,andonthebenefitofnaturalingredientswithinahealth-consciouslifestyle.Thiscanalsoleadtopromotinganyfutureonlinetutorialsortradeshowappearances,aswellasmentionthereleaseofanynewandupcomingPureBella’sproducts.
Charity:CurrentlythePureBellawebsiteclaimsthatapercentageofsalesaredonatedtoacharity.AfterspeakingwithMarinaweweretoldthatnocharityhasbeenchosenyet,andnoproceedshavebeendonated.Thisisfalseadvertisement,andshouldberemovedfromthewebsiteuntilacharityisinfactchosen.Researchshowsthatcustomerstendtospendmoremoneyonproductsthatareconnectedtoabrandthatissociallyresponsible,sowebelievePureBellashouldfindanappropriatecharityassoonaspossible,anditshouldbeanon-profitorganizationthatfallsunderthefollowingcategories,toemotionallyconnectandstayrelevanttoourrecommendedtargetmarket:
● Women’sHealth● WomenEmpowerment● YoungGirlEmpowerment
SocialMedia:CurrentlyPureBelladoesnothaveaverystrongsocialmediapresence.Socialmediaisaplatformthatcanbeverysuccessfulwhenimplementedcorrectly,butitisalsoverytimeconsuming.PureBellashouldonlycreateastrongsocialmediapresenceifsomeoneishiredtoworkspecificallyonsocialmediaplatforms,oriftimeismadeavailabletoMarinaforconstantupdatesandpromotions.WedecidedthefollowingtwosocialmediaplatformswillbethemostappropriateforPureBellaandtheirrecommendedtargetmarket:
1. Facebook-tobeusedfor:a. PromotionofPureBellaEventslikewellnesspartiesandtradeshowappearancesb. Customerreviewsc. Productdescriptionsd. Uploadedorrelevantarticles/blogsaboutthebenefitsofusingall-natural/organic
productsandlivingahealth-consciouslifestylee. LinktoInstagramandthePureBellawebsite
2. Instagram-tobeusedfor:a. Picturesofproductsb. Picturesandin-depthdescriptionsofingredientsc. Picturesofthemanufacturingprocessandtheproduct'snaturalsourcesd. Picturesofsatisfiedcustomerswiththeproductse. PicturesfromPureBellaevents(wellnessparties,tradeshows,etc.)f. Inspirationalsaying/quotesrelatedtohealth,wellness,andnaturalingredients
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FinancialImplicationsForPureBellatoachieveitgoalsandobjectives,calculatingitsunitssoldandgrowthpercentage
mustbepresented.Sincetherewerenospecificnumbersgiven,thesecalculationsarebasedonanapproximateestimate.
● Unitssoldincreasedby100%atyear'send(12months)● BasedononlinesalesthroughAmazon.com,PureBellahassoldanestimateof7
products● 5ofthechocolateflavoredmouthwashat$13.00and2ofthenaturalflavored
mouthwashat$14.00● TotalSalesofchocolateflavoredmouthwashis$65.00● TotalSalesofnaturalflavoredmouthwashis$28.00
● Byincreasingunitssoldto100%,PureBellawouldsell10chocolatesflavoredmouthwashand4naturalflavoredproducts
● TotalSalesofchocolateflavoredmouthwashwith100%increaseis$130.00● TotalSalesofnaturalflavoredmouthwashwith100%increaseis$56.00
● Marketgrowthrateof3%insecondyears’end(24months)
● Marketgrowthinnaturalproductsisincreasingfrom2014-2020,9.8%● Eachyear,therewouldbeanincreaseof1.6%
Allowinga3%increaseinmarketgrowthinthenaturalproductindustryin24months
KeyMilestonesPureBellahastheabilitytoaccomplishmanymilestonesbyimplementingthe
recommendationswehavegiven,basedonourresearch.Thesemilestonesinclude:1. Increasingitsbrandawarenessbyconnectingwithwomen’swellnesscentersandusing
directdistributionchannelssuchasfarmer’smarkets,tradeshows,andwellnesspartiesinordertosellproducts.Thesein-personbuyingexperienceswillalsobuildstrongercustomerrelationships.
2. Gatheringnecessarycustomerdatathroughthememberrewardsclubthatcanthenbeusedtodiscoverconsumerinsight,buyingbehavior,andimprovemarketingandsalesstrategies
3. Partneringupwithawomen’snonprofitorcharitytoestablishanactualassociationwitharelevantcharityandbegincompanysocialresponsibility,asadvertisedonthewebsite,anddonateapercentageoftheproceedsfrompurchasesthathavebeenmade
4. Establishingacustomerbasebyattractingcustomersthroughsocialmediaplatformsandsharingthestoryofthebenefitsoftheproducts
5. Buildinganetworkinthewellnessandhealthcommunitybyeducatingthebenefitsofall-natural/organicingredientsusedineverydaypersonalcareproducts
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ContingenciesDuetounforeseenevents,PureBellamustpreparewithalogicalcontingencyplaninordertoprotectthecompanyandthefounderfromanylegalorfinancialdisasters.Anymarketortrendsshiftsmayalsocreatepotentialoractualbusinessliabilities,andPureBellashouldthereforeplanaccordinglytoprotectthecompany’sfuture.Thefollowingarethreepossiblescenariosthatmayhappen:
1. PureBelladoesnotreachtheprojectedsalesand/orrevenuetarget.Thereisapossibility,duetothefactthatPureBellaisastartupcompanywithinahighlycompetitivemarket,thatitdoesnotreachtheprojectedsalesorrevenuegoalswehaveprojected.Ifthisoccurs,Marina,thefounderandCEO,mustbeopentoeitherloweringthepriceoftheproductinordertoappealtoawidermarketorfocusingonasmallerproductline,untilsalescanincrease.
2. Thereisadecrease/lossofinterestinthenaturalandorganicpersonalcareproducttrend.Sincealltrendsundergoanebbandflow,thereisapossibilitythatinfiveortenyearsthetrendofspendingmoremoneyonall-naturalandorganicproductsmayvastlydecrease.Thismayresultfromadownturnintheeconomy,orofanunforeseeablefuturediscoverywithinall-naturalpersonalcareproductsthatdeemsitworthlessorunattractivetoconsumers.ThistypeofdownturnwouldhaveanegativeimpactonPureBellaandstifleanyfuturegrowthofthecompany,aswellasresultinthelossofcustomersandrevenue.PureBellamustplanaccordingly,byeitherofferingmajordiscountstoconsumersorbyinvestinginfurtherresearchtoimproveortweaktheircurrentproductlineinordertoalignwithanyupcomingpersonalcaretrends.
3. Apossiblelawsuitfiledbyanunsatisfiedcustomerwhoaccusesthecompanyoffalseadvertisementorofsellingahazardousproduct.SincePureBellaproductsarenotFDA/ADAapproved,orhaveanyclinicalresearchtosupportactualandpositiveresults,thefounderofthecompanyismainlyrelyingongoodfaithandherownbeliefinhowtheseproductswillhelpcustomersandimprovetheirpersonalhealth.PureBellarunstheriskofbeingsuedbyanydisgruntledordissatisfiedcustomerwhoeitheraccusesthecompanyofmisleadingthemwithaworthlessproductorofsellingthemaproductthathadadverseorharmfulsideeffects,resultinginemotionalorphysicaldistressandexpensivedoctorbills.Therefore,PureBellashouldbudgetaccordingly,buyliabilityinsurance,andhavelegalcounselonstandby,incasethistypeoflegalcrisisoccurs.
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t