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Veet Retailing.pptx

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Veet Retailing.pptx

  1. 1. Strategic Retail Planning Process
  2. 2. Mission: We exist to protect, heal and nurture in the relentless pursuit of a cleaner, healthier world. This means operating in a responsible and sustainable way while innovating products that improve lives while reducing environmental impacts.
  3. 3. Market Attractiveness ● A large demographic: Veet’s current target market consists of young female professionals and students aged 16 – 35 who are cost-conscious and seek convenience. ● Solution for those who are apprehensive of pain. ● Includes both first-timers who are seeking but have not yet tried hair removal products and also existing users of alternative hair removal products such as shavers and epilators. ● Strong brand recognition, as well as leadership position in the depilatory industry. Achieved TOM recall. ● Broad Distribution Channel: Available in local stores easily and online via the supermarket chain’s online shopping service..
  4. 4. Competitor Analysis ● A large market share is owned by two big competitors; Anne French and EU cream ● Difficult to build a customer loyalty in the presence of two strong competitors ● Anne french caters more to women aged 40 and above ● Competitors are gaining market share with low price strategy ● Competitor firms cater to all SECs in the market while Veet caters to mainly SEC A & B ● Other hair removal product usage: Venus razor, Wax, Epilators and Laser.
  5. 5. SWOT analysis Strengths : Weaknesses 1. Dynamic brand which relates to the changing needs of the global consumer 2. Convenience and a strong distribution network 3. Has a wide product range like wax strips, face wax, and sensitive skin range. 4. Good branding and advertising as it is associated with celebrities like Mahira Khan and Shradda Kapoor and Katrina Kaif 1.Presence of similar beauty products means limited market share and high brand switching 2. Skin issues and complaints of skin sensitivity to the chemicals.
  6. 6. Threats : Opportunities: 1. Competition with beauty salons that provide hair removal expertise 2. Safety and health concerns raised around chemical usage. 1. Better awareness, and overcoming the cultural taboo especially in rural area: Veet Academy – educating young girls on communication and personal grooming skills 2. Tie-ups with beauty salons 3. Has potential for Brand extension: wax, spray etc Veet Sugar wax, gel and spray on creams. SWOT analysis
  7. 7. Strategic Opportunities Strong Brand Image, Customers Trust Veet Can Grow Through Online Retailing Influencer Marketing on the rise Post Covid-19 Global Presence, Similar Demographics
  8. 8. Strategic Alternatives Market Penetration: New variants, and skus. A travel size Veet cream to introduce in kiryanas in underdeveloped areas. Market Expansion: Veet Sugar Wax. (For older women) Veet Face Care. Format Development: At-home hair removal services following all Covid- 19 protocols. Diversification: VeetMart, an online monthly subscription based hair- removal system for both men and women.
  9. 9. Specific Objectives & Resource Allocation ● Establishing a wide presence including entry among the BOP segments ● Improve Market image as inclusive of all, a brand all SECs can rely on
  10. 10. 6. Retail Mix to Implement Strategies Location: Wider distribution to include kiryanas. The brand should place the brand in local kiryana stores where SEC C and below shop the most often. Promotion Tik tok, radio, TV Since TikTok has a high reach in this market, they could do influencer marketing with an influencer who is prominent among the demographic. TV ads can also be broadcasted especially on channels that are watched by women predominantly and during peak hours e.g, between 7 to 10 most women are watching dramas. YouTube ads can also be used. Merchandise and pricing: The brand should introduce smaller SKUs at relatively lower price to capture this segment. Product Outlook: The packaging should resonate with the original product. Packaging: Smaller SKUs. Brown paper can also be provided as women are often embarrassed to buy these products without brown bag.

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