Paper About New Product, Bount Essay

This essay has a total of 4588 words and 17 pages.

Paper About New Product, Bount


Executive Summary
Proctor & Gamble will introduce the new Bounty Toilet Paper during the first week of
December 1999. This brand of toilet paper will take the already established idea used with
Bounty Paper Towels, and modify to the toilet paper world. Bounty has always stressed the
idea of taking the least amount of the product, but still getting the job done while at
same time consisting of a strong durability. Never before has such attributes of
durability and effectiveness been used in a toilet paper brand, therefore P&G hopes to
establish Bounty Toilet Paper as a leader in the industry.

Proctor & Gamble understands the high competition that already exists in the toilet paper
industry, but feel that new Bounty Toilet Paper will change how this industry is geared.
In recent times, toilet paper producers have stressed comfort and style in the production
of their products, but as the times have changed, the American public is now more
interested in getting the job done in the shortest amount of time with the smallest amount
of the product. P&G have produced Bounty Toilet Paper because of this change in the
lifestyle of Americans. With this focus on effectiveness and durability, Bounty will go
into the new Millennium leading the toilet paper world.

Company Background
Proctor and Gamble was founded in Cincinnati, OH, by William Proctor and James Gamble in
1837. Initially the company was started to compete with the 14 other soap and candle
makers already established in Cincinnati, but around the end of the century, Proctor and
Gamble dropped candle manufacturing altogether to focus on soap production. By 1890,
Proctor and Gamble had increased their production to over 30 different types of soap.

During 1911, Proctor and Gamble introduced Crisco, the first all-vegetable shortening,
beginning what would be the first in a long line of different unrelated products the
company would develop in the future. Such products include Tide washing detergent, Crest
toothpaste, Charmin toilet paper, Pampers baby diapers, Folgers coffee, Bounce fabric
softener, Pert Plus shampoo, and Bounty paper towels, just to name a few. With these
products, and the more than thousand others, Proctor and Gamble leads the world in sales
in almost all categories of household products. Sales hit the one million mark by 1859,
roughly 22 years after the company was formed. Today, the company has reached sales in
excess of over 30 billion, with this figure continuing to grow each and every year.

Today, Proctor and Gamble is a truly global corporation. Since 1980, the company has
quadrupled the number of consumers it can serve with its brands, which totals close to 5
billion people around the world. Proctor and Gamble now has operations in more than 70
countries and its products are sold in over 140 countries, making Proctor and Gamble one
of the biggest and most successful consumer goods companies in the world.

Product Description and Key Benefits
Bounty Toilet Paper is the newest name in bathroom tissue. Made with the same quality as
the original paper towels, Bounty Toilet Paper emphasizes practicality rather than
prettiness. It is made with an unscented, three-ply, deeply corrugated tissue and does not
depend on any flower or butterfly to attract potential consumers. This new design is made
for people who are tired of constantly running out of toilet paper due to either poor
quality tissue or small amount found on rolls.

Bounty Toilet Paper is made with a patented design from years of research. This product
boasts the same maximum absorbency that is found in Bounty Paper Towels because of its
unheard of three-ply thickness. Each ply is twice as thick as the standard bathroom tissue
ply. Because Bounty paper is so thick, a special plastic dispenser that hangs from any
standard toilet paper roll holder is needed. These refillable dispensers are free with an
initial purchase of the product. Another feature is the deep, lateral grooves in the
tissue that provide maximum cleaning with minimal wiping. Since Bounty Toilet Paper is
made with such tough cleansing power, an aloe vera lotion has been added to the paper to
prevent possible chaffing.

This revolutionary design in bathroom tissue is meant for anyone that stresses efficiency.
It is perfect for outdoorsman, fast-paced careers, or anyone that needs the power of a lot
of toilet paper, not a lot of toilet paper. Because of the already established name of
Bounty in the paper towel world, the expectations of Bounty Toilet Paper will be high,
with the product delivering satisfaction to all consumers. This is due in part to the
success built into construction and usage of Bounty Paper Towels that will easily be
catered into the toilet paper industry with our product.

Description of Target Market
The research team from Proctor & Gamble that were used to develop Bounty Toilet Paper
referred to the Simmons Market Research on Products and Users to pinpoint the target
market for this product. After reviewing the figures found in the report, it was
discovered that the target market for potential buyers is women between the ages of 18 and
49. Although this will serve as the target market, Bounty will not be limited to this
small segmentation of the general public. Instead, Bounty Toilet Paper will be marketed to
these women heavily, but at the same time it will also be marketed to many other
demographics in an effort to meet the needs of more potential consumers.

Our advertising strategy is to advertise using mediums that will reach our target market
with the greatest reach, but more importantly with the highest frequency. According to
Simmons Market Research, it will be to our advantage to use public television stations,
along with cable television stations for advertising with our product with the greatest
reach to the target market. This decision was made to advertise on the public stations of
NBC, ABC, CBS, and Fox; while at the same time using the cable stations of USA, CNN,
Lifetime, The Discovery Channel, and ESPN. We will advertise on these stations during the
peak time for our target market, which was discovered to be early morning to mid
afternoon. By targeting these stations at the particular times noted, we will have reached
a variety of men, not only women.

Another means we will use to reach our target audience will be the medium of magazines.
Simmons Market Research shows that toilet paper buyers are heavy readers or many national
magazines. The magazines that we will use to reach our target audience the most will be
Better Homes and Gardens, Family Circle, Reader's Digest, and Seventeen. We will also
advertise in Men's Health, GQ, Outdoor Life, and Field and Stream, in efforts to reach a
more broad audience outside of our target market. These are the different target groups
and markets Bounty Toilet Paper plans on using in our pursuit to 'take over the toilet
paper world.'

Buyer Behavior
Consumers will experience a low level of involvement in their decision to purchase Bounty
Toilet Paper. We know as marketers that the price of a product relative to quality is
extremely important in retaining customers and hopefully getting referred for such a high
quality product. We know the price of an item has a direct correlation with the level of
involvement or 'importance' that a consumer will experience upon their decision to buy. We
plan to offer hefty three ply toilet paper equal to two ply for the price of $0.99. The
packaging of two rolls instead of four will be in order to gather consumers in a hurry and
ones that want a quality product relative to their finances. This is extremely important
for college students or newlyweds with tight budgets, both of which fall into our target
market. Because of the low level of involvement and interest in our attempt to 'break
through the clutter' is the packaging of two rolls. This type of packaging will hopefully
come off to the consumer as different from the rest and better suited to their needs. In
this day and age people do not have the time to spend comparing different products,
leading to consumers usually grabbing the first item that catches their attention. Our
product will be accepted by various groups of consumers ranging from college kids, impulse
buyers, impatient customers, and hopefully even families. Once our initial entrance into
the toilet paper industry breaks through, we plan to offer larger quantities geared more
toward families, but this will happen once word of mouth and trial show that we offer a
high quality product at a low price.

Competitive Analysis
Competition plays a key role in the success or demise of most products that fit the low
involvement category. The toilet paper industry is a constant battle for dominance with
the vast number of products competing for the highest sales. Proctor & Gamble is not new
to this highly competitive market, nor or they new to the toilet paper industry. Currently
P&G is atop the sales list of toilet paper brands with their Charmin brand of toilet
paper, but this may soon change.

Proctor & Gamble are adhering to the new lifestyles of Americans with the new Millennium
approaching. Today everyone seems to be on a constant move, with little or no time for
most ordinary everyday ways of life. With this new fast paced lifestyle, P&G hopes to
market the new Bounty Toilet Paper to this generation of Americans. P&G will attempt to
phase out the Charmin brand of toilet paper in order to be centered around the new Bounty
Toilet Paper. This is because Charmin has been marketed as being a more delicate toilet
paper for the person out seeking style in the toilet paper they buy. This is changing, and
with this change, P&G plans to fit the Bounty Toilet Paper as a more ideal brand for the
new ways of life Americans are leading.

Other larger competitors that will be facing the introduction of new Bounty Toilet Paper
include Cottonelle, Northern Tissue, and Scott Tissue. All of these brands have been
stressing the attribute of style over any other feature, just as Charmin. During the late
1980's and early 1990's this was the more predominant feature the American public was
looking for, but now with the fast paced way of living, this feature seems less and less
important to the consumer. With that being known, Proctor & Gamble want to feature a
toilet paper that is in tune with this fast paced lifestyle, therefore introducing the new
Bounty Toilet Paper that requires less paper to do the job because of its new three ply
thickness. P&G feels that the competition will raise no threat due to the lack of any
other brand using the three ply method, but at the same time, P&G is considering the
possibility of new brands hitting the market with this three ply attribute. By the time
these new products hit the shelves, P&G feels that Bounty Toilet Paper will be established
as the top selling and most preferred toilet paper in America.

Positioning Strategy and Perceptual Map
Proctor & Gamble is introducing the new Bounty Toilet Paper to the world by stressing two
key attributes. These attributes are the durability of the paper and the effectiveness
this new paper has for the consumer. Both attributes arise from the new three ply
thickness that will be first used with Bounty Toilet Paper. P&G will position Bounty
Toilet Paper according to this new three ply thickness and the attributes of durability
and effectiveness. This will place Bounty Toilet Paper in a different category compared to
existing toilet paper brands, due to the other brands placing most emphasis on style
rather than anything else. P&G feels this is to their advantage considering how Americans
today place less concern with style, and more attention to how they can get more for their
money. Because of the great effectiveness and durability of this product, consumers will
be introduced to the fact that less paper will be needed to get the job done with Bounty.
This will be key in breaking many consumers from their existing brand loyalty to other
brands, and hopefully change the face of how toilet paper is made in the future. P&G feels
that with this new breakthrough technology allowing the three ply thickness that nothing
less than great sales will be achieved with new Bounty Toilet Paper.

The following page contains a perceptual map of where P&G will place new Bounty Toilet
Paper into the market, and at the same time where all top potential competitors currently
target their products according to the aspect of durability and effectiveness.



Description and Justification for IMC Tools
Continues for 9 more pages >>




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