|Assignment 2 Situation Analysis|
Based on what you’ve learned so far in this course, regarding the 5 Cs, 4Ps, and STP, complete the assessment questions below. Submit the completed template in the Week 10 assignment submission link.
|Name: ChaVeda Willis
Professor’s Name: Professor Tracy Ellard
Course Title: MKT 100: Principal of Marketing
Date: September 3, 2018
Company/Brand Selected (Fiat Chrysler, IBM, Burger King, or Old Spice): I chose Old Spice.
Who are the current customers/users? Include information related to demographics, psychographics and buying behavior, price sensitivity, customer satisfaction and loyalty.
For example: You could include information such as whether the brand is trying to appeal to a certain social or cultural group and how customers perceive the product/brand. It’s also possible to include demographic information related to: age, educational attainment, geographic area, gender, race, employment status and/or home ownership. Additionally, you can discuss psychographic information which includes those attributes that relate to personality, values, attitudes, interests, or lifestyles of people. This area is also related to situational life stages as well as customer beliefs, and how customers want to see themselves and be perceived. Some examples of psychographic groups include video gamers, soccer moms, sports fanatics, hipsters, and single moms. Life cycle stages include: retirees, new homeowners, college students and new parents. Be aware that some products/brands may appeal to a wider customer base than others.
—-I say that Old Spice is mainly used between men of ages 27-65. I chose that age range because most men I run into wearing it says the women love it. Depending on the brand, I like Old Spice. It really reminds me of my father cologne because he loves to wear Old Spice.
What do the customers buy/use?
Customers have a variety of products to choose from. There are 27 different deodorants you can choose from. My favorite one is the Old Spice Swagger. I just love the smell of that one. They even have men Aftershave, and cologne. I think if you try it you would like and I’m not talking about a woman. Women you can get it for your man also if you want him smelling good.
What changes can the company/brand expect in the future? How can the company/brand better serve its customers?
(For example, you could include information about the current demand for the product/brand, and how it is changing or has changed including possible variations or modifications in the future. You may also determine/discuss if the brand/company can take advantage or has taken advantage of the changes. It’s also possible to consider and talk about whether the product/brand is a less expensive substitute, perhaps, or maybe a product/brand that is easier to use with more features.)
—I think they should start off by making those commercials shorter because to me they were very long. Once you see the beginning and by the time you make it to the end, you’d been have forgotten what you were watching. Opportunities (Make sure you label why you call each item an opportunity):
1. Old Spice make sure they keep their customers and watchers engaged.
2. Old Spice needs to make feminine products because some women would like to shop for themselves also with their significant other instead of just buying him some alone.
3. I think young consumers would be more beneficial to trying new things and texting new products out because elderly people going to stick to their normal cologne and smells.
Threats: (Make sure you label why you call each item a threat):
1. Axe is a threat when it comes to fragrance deodorant and they also sell men deodorant and cologne just like Old Spice for men.
2. Right Guard is a threat because Old Spice mainly has older men buying it unlike Right Guard which has younger consumers
3. Old Spice has been a threat to some because a lot of people have complained about skin reactions, inflammations, and rashes after using Old Spice deodorant and body wash.
This Section Discusses what the brand is currently. Identify strengths and weaknesses of the company/brand as it exists today, providing at least 3 strengths and 3 weaknesses. What does the company/brand do well and not so well at this very moment?
List 3 Strengths (Make sure you label why you call each item a Strength):
1. One strength is that Old Spice has a large fan based and is followed world wide on all different types of social media. For example, Old Spice has had 2.627,392 likes and on Instagram they have had 58,230 followers.
2. Old Spice is always trying to attract a young crowd on social media to try to catch their views on these social media because that’s the number 1 rule that all young people are on one or another social media.
3. Last strength I chose would be to bring more entertainment to TV. For example, like in your shows, don’t just play around but make sure the older generations understand the message.
List 3 Weaknesses: (Make sure you label why you call each item a weakness):
1. Sometimes Old Spice can go overboard with the ads and the fantasy world and credibility of all the products being okay.
2. The don’t really have an extensive product besides the deodorant. That’s about the only think that has that a many scent.
3. The fact that Gillette has a stronger position and market share in the P&G family than Old Spice.
This Section deals with what the company/brand needs to become.
How can the company/brand improve its weaknesses and maintain or grow its strengths? Suggest how the company/brand can improve upon the things it does well and not so well.
I think that Old Spice should strategize to keep up with their competition and they should increase all the profit. I feel that Old Spice should use a lot of social media effect because the number of potential customers is greatly spreaded all over the globe.
Define the current business environment. Include information about political, legal, economic technological and societal factors that may influence sales.
For example: You could perhaps discuss the current trends and conditions for this Industry and for the brand. It’s possible to include information about how the Economy affects this industry. This could include changes in income: are people losing jobs, or getting paid more? Changes in spending habits could be considered as well. Other factors such as use of public transportation and shopping online may also be relevant. Whether or not the product is high-tech, or state-of-the-art can be also be included in describing the context. For example, are there other companies producing new versions of the product? Is the market changing quickly? How is technology affecting this product or service? Are there any new laws that may affect the brand?
Political Environment: Old Spice started its real-time campaign by tweeting video responses to influential (as well as lesser-known) bloggers who had mentioned the campaign in earlier tweets and posts. Producing short, humorous videos and tweeting them back at bloggers instantly gave the bloggers even more material to push out on their blogs, Twitter and other social networks.
Define the business partnerships. Does the company/brand have any current partnerships? What another company/brand may be a good partner for them?
Current Partnerships and the discussion on them: I read somewhere where Old Spice had teamed up with Tough Mudder making the Old Spice Hardest Working Collection. They made Men’s’ Body Wash and Deodorant also.
Proposed Partnerships and the discussion them: Old Spice has teamed up with Denver Broncos line-backer, Von Miller, naming him the face of its 2016 NFL push featuring the brand’s Hardest Working Collection line-up. The range represents the marque’s top-performing anti-perspirant deodorants and body washes.
Who are the main competitors? Label and discuss the top three competitors and why you consider them a competitor.
Competitor 1: Axe. I believe Axe is a competitor because it has scented that younger males can wear and attract the women instead of smelling like your grandpa.
Competitor 2: Right Guard. I chose Right Guard because that Clear solid Right Guard, “Fresh” scent, I love it. If you wonder how neurotic I am about *not* switching brands/scents of my toiletries, I’ve been using the “Active” scent for about four years, when suddenly they stopped making it in the clear solid. I went to EVERY SINGLE store in this area that sells any kind of deodorant within a 30-mile radius (spent most of a day on the hunt) and no one carries it anymore. I found it on the internet, and ordered it for a while, until the wife found out I was spending upwards for $7 a stick-on deodorant (with shipping) and made me switch. Now I make sure to buy 10+ sticks at a time and restock around 3 in case I must find a different one.
Competitor 3: Gillett. I chose this being a competition is because Rather than trying to reclaim the deodorant top spot by simply boosting the marketing efforts for its Right Guard brand, Gillette went back to the drawing board and is trying to launch a completely new brand of body spray.
Based upon the analysis you just completed in this worksheet, what are three (3) key recommendations that you could pass along to Management regarding the future direction of the company you selected? Discuss why you have created these strategies and why you think they should be undertaken and work for the business.
1. They should put the focus on short snappy video content. I recent online video study shoes that almost 85 percent watch online videos or even surf the web.
2. Make sure they pump out the content. If you can create quality content, you have a greater percentile that the customers will want more.
3. Make sure your customers are engaged. Ask customers what they think about a certain new scent they’re are trying to introduce to the world instead of just making it and putting it on the shelves hoping people will buy it.
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MKT 100 Assignment 2 1186 (6-13-2018) Page 1 of 4