Tite Tite AromasAromas

Tatiana CaterniucTatiana Caterniuc

LOGO:LOGO:

Product Product DescriptionDescription

I am selling hair ties that have a beautiful I am selling hair ties that have a beautiful scent when you put them on. There are scent when you put them on. There are different colors of hair ties and there are different colors of hair ties and there are also different aromas of hair ties. Basically, also different aromas of hair ties. Basically, what my product does is it brings your hair what my product does is it brings your hair beautiful smell without putting any perfume beautiful smell without putting any perfume on. It is two things in one; long lasting hair on. It is two things in one; long lasting hair tie quality and long lasting perfume like tie quality and long lasting perfume like scent. scent.

PositioningPositioning My Target Market is young ladies ages 10 to 17 with middle My Target Market is young ladies ages 10 to 17 with middle

to long hair length. to long hair length. My competitors are Scunci, Goody, and Ouchless. My competitors are Scunci, Goody, and Ouchless. Because the quality and the price of my product is higher Because the quality and the price of my product is higher

than my competitors, in terms of positioning, this is where than my competitors, in terms of positioning, this is where my product will be positioned:my product will be positioned:

QUALITY

PRICE

Scunci

Ouchless

Goody

Tite Aromas

Market Market ResearchResearch The purpose of my market research The purpose of my market research

was to find out and fully understand was to find out and fully understand the needs and wants of my future the needs and wants of my future customers and to serve them to the customers and to serve them to the best of my ability.best of my ability.

The three types of market research The three types of market research that I used were:that I used were:

Paper SurveyPaper SurveyTelephone SurveyTelephone SurveyObservation MethodObservation MethodInternet/Online ResearchInternet/Online Research

Market ResearchMarket Research (continued)(continued)

Paper Survey:Paper Survey: I created an 18-question survey with both I created an 18-question survey with both demographic and non-demographic questions. The reason why demographic and non-demographic questions. The reason why I chose the survey is because it is easy, very common, and I chose the survey is because it is easy, very common, and convinient.convinient.

Telephone Survey:Telephone Survey: telephone survey is also a good idea telephone survey is also a good idea because it is a primary source of data and its also cheap and because it is a primary source of data and its also cheap and convinient.convinient.

Observation Method:Observation Method: sometimes people may lie when talking sometimes people may lie when talking surveys or when being interview on the phone. I think that surveys or when being interview on the phone. I think that observing the customers of my competitor is a very good observing the customers of my competitor is a very good source of primary data. The reason why I think that is because source of primary data. The reason why I think that is because when I watch them shop for hair ties, I notice what exactly they when I watch them shop for hair ties, I notice what exactly they are looking for; which can help me improve the quality of my are looking for; which can help me improve the quality of my product. product.

Internet/Online Research:Internet/Online Research: this is the only secondary research this is the only secondary research method that I used to gather more data for my market method that I used to gather more data for my market research. This is a good way to get data because there are a lot research. This is a good way to get data because there are a lot of advantages to it. It is easy to access, free, and it may make of advantages to it. It is easy to access, free, and it may make primary data unnecessary. You also tend to get more primary data unnecessary. You also tend to get more information about your competitors and your target market.information about your competitors and your target market.

Market Research Market Research ResultsResults

After I gathered all of my research, one After I gathered all of my research, one of the things that I found out was that of the things that I found out was that my target market is interested in the my target market is interested in the things that I thought they wouldn’t be. things that I thought they wouldn’t be.

I also saw a pattern in the answers of I also saw a pattern in the answers of the paper surveys. the paper surveys.

It seems to be a good thing because it It seems to be a good thing because it tells me that when I did my positioning tells me that when I did my positioning and segmenting assignment, I and segmenting assignment, I positioned my product at the right positioned my product at the right place and to the right people.place and to the right people.

Market Research Market Research ExamplesExamples

This pie graph shows the This pie graph shows the relationship of ages at which my relationship of ages at which my target market started using hair target market started using hair ties. I was surprised by this ties. I was surprised by this information because I thought information because I thought that I would get different that I would get different answers. My assumption was answers. My assumption was that the age that they would that the age that they would start using hair ties would be start using hair ties would be ten and up.ten and up.

This graph is also very This graph is also very helpful for me in order helpful for me in order to plan my product to plan my product successfully. It will help successfully. It will help to determine where I to determine where I should sell my product. should sell my product. In what stores. Since In what stores. Since majority of the people majority of the people that took my survey live that took my survey live in the city, I will try to in the city, I will try to sell and advertise my sell and advertise my product more in the city product more in the city area. area.

At what age did you start using hair ties?

5 to 7

8 to 10

11 to 13

14 to 16

17 and above

Where do you live in?

City

Town

Suburbs

Farm

Other

PackagingPackaging My product will be packaged in a red My product will be packaged in a red

recyclable carton box in a shape of a recyclable carton box in a shape of a heart. heart.

Each hair tie inside the box will be Each hair tie inside the box will be individually wrapped since they all have individually wrapped since they all have a different aroma. a different aroma.

There will be twenty hair ties in one There will be twenty hair ties in one package. package.

Inside the package, there will be Inside the package, there will be suggestion on how to make different suggestion on how to make different hair styles with my new hair ties. hair styles with my new hair ties.

LabelingLabeling Some of the information that will be on Some of the information that will be on

the packaging of my product is the packaging of my product is description of the product (aromas, description of the product (aromas, colors), the company or the distributors colors), the company or the distributors name, the price of the product, products name, the price of the product, products guarantee, and warnings.guarantee, and warnings.

The reason why I chose this type of The reason why I chose this type of package because it’s unusual; and it is package because it’s unusual; and it is not how we always see hair ties not how we always see hair ties packaged. I think that this way I will make packaged. I think that this way I will make my customers more interested in the my customers more interested in the product that I’m selling.product that I’m selling.

PricingPricing I think that the best strategy for determine the price I think that the best strategy for determine the price

of my product is “introductory price”. I think that this of my product is “introductory price”. I think that this strategy is good because when I will have a low price, strategy is good because when I will have a low price, most likely more people are going to buy my product.most likely more people are going to buy my product.

When they buy it and see that my product has very When they buy it and see that my product has very high quality, they will continue to buy it even though I high quality, they will continue to buy it even though I will raise the price of my product. will raise the price of my product.

When my price reaches the point where its going to When my price reaches the point where its going to be the same as my competitors price, I will see if less be the same as my competitors price, I will see if less people will continue to buy Tite Aromas. people will continue to buy Tite Aromas.

And if that happens, I will change some of the And if that happens, I will change some of the attributes of my product, and probably change the attributes of my product, and probably change the price too.price too.

The price of my product is $3.The price of my product is $3.

PricingPricing (continued)(continued)

The price of 12 Scunci hair ties is $3.49. The price of 12 Scunci hair ties is $3.49. The price of 12 Goody hair ties is $2.99The price of 12 Goody hair ties is $2.99 The price of 12 Ouchless hair ties is $3.25The price of 12 Ouchless hair ties is $3.25

When comparing the prices of my When comparing the prices of my competitors and my prices, it seems like competitors and my prices, it seems like it is a better choice to buy my product it is a better choice to buy my product because it is cheaper. And its also a because it is cheaper. And its also a better quality.better quality.

PromotionPromotion This is how I will use the four types of promotion:This is how I will use the four types of promotion:

Personal SellingPersonal Selling – I could sell directly to people in – I could sell directly to people in malls and different other stores where my product malls and different other stores where my product will be selling. will be selling.

Mass SellingMass Selling – I could have advertisements on the – I could have advertisements on the TV commercials, and bill boards.TV commercials, and bill boards.

Publicity/P.R. – Publicity/P.R. – I would offer my hair ties for free to I would offer my hair ties for free to people that are at least somewhat interested in people that are at least somewhat interested in the product that I am advertising to them. the product that I am advertising to them.

Sales Promotion – Sales Promotion – I will offer discounts to I will offer discounts to customers who spend at least $10 a week on the customers who spend at least $10 a week on the hair accessories products that I sell.hair accessories products that I sell.

Promotion Promotion (continued)(continued)

The parts that I will focus on the most are The parts that I will focus on the most are Personal Selling and Publicity. Personal Selling and Publicity.

I will use Personal Selling because I think that I I will use Personal Selling because I think that I will make more profit advertising to certain will make more profit advertising to certain people at a time rather than a large group of people at a time rather than a large group of people. Publicity is also important because if people. Publicity is also important because if the community has a good image of me, they the community has a good image of me, they will be more interested in buying my product.will be more interested in buying my product.

The parts that I will focus on the least are The parts that I will focus on the least are Mass Selling, and Sales Promotion.Mass Selling, and Sales Promotion.

Mass Promotion is not a very good idea Mass Promotion is not a very good idea because the customers that I’m trying to because the customers that I’m trying to reach will not know as many details about my reach will not know as many details about my product as when I will do with personal product as when I will do with personal advertising. advertising.

Promotion Promotion ExamplesExamples

Mass SellingMass Selling – I will place my advertisements on – I will place my advertisements on billboards around the town and city. The ad will billboards around the town and city. The ad will include the name and product description, price include the name and product description, price and features. and features.

Personal SellingPersonal Selling – I will target young females and – I will target young females and make telephone calls in order to let them know make telephone calls in order to let them know about my product and persuade them to buy the about my product and persuade them to buy the product from me.product from me.

Sales PromotionSales Promotion – For the sales promotion, I will – For the sales promotion, I will have coupons in the aisle that product is sold. have coupons in the aisle that product is sold.

Public RelationsPublic Relations – I would want my product to be in – I would want my product to be in a press release. Even thought this type of a press release. Even thought this type of promotion is un- paid form of personal promotion is un- paid form of personal presentation, I think that it would be a good way to presentation, I think that it would be a good way to get my target market. get my target market.

DistributionDistribution I will use single channel and I will sell I will use single channel and I will sell

indirect. indirect. I will have only one middlemen and it will be I will have only one middlemen and it will be

JCPenney retailers. They will come over to JCPenney retailers. They will come over to my manufacturing place and pick up the my manufacturing place and pick up the things that I want to sell through their store.things that I want to sell through their store.

The reason why I chose to sell indirect and The reason why I chose to sell indirect and not direct is because when selling indirect, not direct is because when selling indirect, you have much stronger relations with your you have much stronger relations with your customers.customers.

With this method, I can also promote and With this method, I can also promote and merchandise my product. merchandise my product.

SummarySummary Tite Aromas will be advertised on bill Tite Aromas will be advertised on bill

boards, TV commercials, and in many boards, TV commercials, and in many other places.other places.

I will try to get my target market to I will try to get my target market to actually buy my product and to actually buy my product and to convince them to let other people convince them to let other people know about it too. know about it too.

I want people to know that my product I want people to know that my product is unique and if someone is thinking to is unique and if someone is thinking to invest in it, they are on the right track. invest in it, they are on the right track.