Breck Company is dealing with hair products
Introduction
Breck Company is dealing with hair products such as the hair shampoo. The company had quite commanding market share among all the women in the region until the late 1980s. In this period, the company was in a great position in terms of its brand. Their brand promotion was done mainly through advertisements in magazines and televisions. The company was even listed as one of the sponsors of big events such as Miss Teen USA. The company targeted Markets from common people and even celebrities. Some of the celebrities included Brooke Shields, Cheryl Tiengs, and Christine Brikley.
In late 1970, the company was sold to investors who aim was only to make quick money. The company stopped all the promotion strategies, and this led to even more profitable as no costs were incurred in the process. After a few years, the company’s market share started to decline. The reason behind this is that the target market, which was once loyal to the brand, was not reminded of the brand.
At the moment, the brand still exists but has a negligible market share. There is nothing better with Breck shampoo as it only cleans the hair, which is something not special when compared with other brands. Their brand colour, formula, and the pleasant fragrant cannot be protected despite the fact that Breck is a registered trademark in the USA.
SWOT Analysis
Strength
Breck Company is, in a way familiar to the markets since it had been providing good products to its customers until its downfall. It is now important to focus on just reminding the customers about the brand and making sure that the company well advertises itself. Typically, some little percentage of the target market re aware of the existing hair shampoo that has a pleasant fragrance and suits all the customers.
Weakness
Breck Company has poor marketing and promotional strategies. The brand does nothing better than cleaning hair. This puts the company at a weaker competitive position in terms of market share. The markets do not see any reason as to why to purchase the product rather than purchasing from another brand. Another weakness is that only a few numbers of people are aware of the existing brand.
Opportunities
The markets in the USA are untapped. This is because of the growing demand for the hair product. The existing brands are not in a position to fully serve the already existing markets. This means that the company is faced with only a few numbers of competitors.
Threats
The company is at a threat of new market entrants. In the case of a new entry in the industry, the company needs to shift strategies to be in a better position. Since the performance of the company had previously declined, the company is at a threat of negative media coverage, especially in the social media platforms.
Marketing Strategy
The target markets, in this case, are all the women in the USA. For a long time now, the women in this region have not been able to find a hair shampoo which bests suits their hair. The available alternative does not fully satisfy the needs of the women. For example, some customers complain of poor quality hair shampoos which in turn destroy their hair. Since they have no alternative, they keep on trying different brand to find their best alternative. The consumers have now lost hope in picking the correct hair products. They are now seeking traditional methods to treat and clean their hair as the available ones are not satisfying their needs. However, a solution needs to be sought to satisfy the customers’ needs. It is for this reason that Breck shampoo is what the consumers. For all the years, the company has been providing quality shampoo to the customers. In that period, there were minimal complains about the hair product since all the customers were satisfied. Breck shampoo happens to be a good reputation due to its previous reputation when it comes to customer satisfaction. Breck shampoo will be back to its initial production of hair shampoo that suits all the customers’ need without interfering with their hair. This will make sure that all the needs are taken care off, and the consumers are satisfied.
Four P’s
Product
Breck shampoo will be products that not only satisfies customers’ needs but takes a greater look on what the customer really wants. Breck shampoo plans on branding its products uniquely so that the consumers will be in position to distinguish the product from other brands. The shampoo will be packaged in attractive bottle which will range from different sizes so that the customer will choose from the available options. It is also important to consider the quality of the shampoo. Quality shampoo will make the customers to trust the brand and make it their option. The shampoos need to in the right qualities and quantities to fit customers’ needs.
Place
Breck shampoo needs to avail it products to the retailer. In this case, the company needs to consider supermarkets as their best option. At the supermarkets, the shampoo will be availed in a well-labelled shelves where the consumers can easily locate. The supermarket is the best option to take as the shampoo will be easily accessible since they can buy the product in inclusion with other shopping. In the modern day, many people tend to make purchases in retail stores such as supermarkets since they avail almost all the essentials.
Price
Breck shampoo will need to consider price that will be favorable to the consumer. This means that the set price should be pocket friendly. Breck shampoo should plan on giving discounts to their customers. The discounts can either be seasonal or based on the quantity purchased. This is a good pricing policy as no party will be harassed. All the purchases made in the supermarkets need to be cash purchases. The consumers will be in a position to make these cash purchases as all the set prices will be consumer friendly and the shampoo will be availed in different quantities. The consumers will the purchase what they can afford.
Promotion.
The target market in this case are the women. The brand needs to create awareness of its existing product since majority of the women are not aware of its existence. Awareness can be created through social media, magazine, and television advertisements. This will cover all the age groups. Many youths will be informed through social media and the rest maybe through television and magazine advertisements. The company will now be in better position to compete with other brands effectively. The use of media as a way of creating awareness is very effective as w ide market will be aware of the product. Another thing is that it is a cheaper method ad so the company will be in a position to maximize on profit. In case any changes and recommendations re to made, the social media provides comment sections where the consumers can rate and even provide recommendations of a given products. The television and print media provides contact details where the customer should feel free to make comments on the product.