Toothpaste Research Proposal

DENTALCARE WHITENING TOOTH GEL RESEARCH PROPOSAL Table of contents: Introduction†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 3 Five The Pre-launch research is an important tool to manage and understand the impact of the market environment and the various other factors that decide the future of the product.When a product is launched, a research or analysis is required regarding the product functionality so as to estimate the benefits from the product and its attraction towards the consumer class or end users. A Product launch may prove a failure without any appropriate research or Pre-Product analysis. The following proposal is based on the research methodology implemented during the research proposal of a Tooth Gel. The current discussion will involve the describing of the various features and qualities of the Whitening Tooth Gel and also how to introduce the software in the competitive Oral Care market.We will al so discuss ways and measures that are taken to assure that the product reaches to every individual and they are benefitted with the product’s usage thereby bringing profits and goodwill to the organization. To summarize, the aim of this research proposal is to understand the market policy and strategy upon introduction of a new product. FIVE YEAR PLAN This Five year plan has been created by the founders of DENTALCARE to ensure a constant funding towards growth and to inform the employees of the company’s current status and direction.DENTALCARE with their CEO Mark Scott and the Marketing Director Thomas Lube is a new organization with high potential of providing exceptionally good products to its consumers and to capture on a big market share in the coming 5 years. They plan to start it with by introducing the product to the classes and then gradually reaching to the masses. The marketing environment has been very receptive to the firm’s great quality Tooth Gel a nd observing that, the firm can increase the promotion, distribution and production of its product in the coming years.DENTALCARE was founded by its two partners, Mr Mark Scott and Mr Thomas Lube around a year ago. Since then, both of the entrepreneurs have been studying and closely following the Oral Care market to understand the business strategies being implemented currently. They have also been keeping a close observation on the consumer behaviour towards a product and its changing approach on when and why to switch over to a different brand. Over the last few months, they have been working together to discover the ultimate Tooth Gel which will comply to the consumer expectations in every term i. e. uality, pricing and overall satisfaction. At present, Mr Mark Scott handles the position of the Chief Executive officer (CEO) and handles all the operations including R and D and Manufacturing whereas Mr Thomas Lube is the Marketing Director handling the Pre Product Projection in the market and Customer experience. Together they have come up with a new Tooth Gel called Whitening Tooth Gel and are ready to launch it in the Toothpaste/Gel market. DENTALCARE’s Whitening Tooth Gel comprises of 100% pure natural ingredients to provide complete Oral satisfaction and is an All-in-One solution to all the Dental and Oral problems.Major functions of this Tooth Gel are to prevent cavities, remove plaque and stains, fight against oral germs, strengthen enamel and teeth, prevent tartar, and provide long lasting fresh breath and much more. Ingredients like clove oil and mint give a really nice after brush experience that lasts longer. Moreover, the makers of this tooth gel have advised that the regular usage of this gel will reduce down the tooth decay by 65% in all age groups. The company has a dream to capture a big chunk of Oral Care Market share by introducing the product to both the classes and the masses.They aim for the product to be affordable by every individ ual and based on this expectation, their management have created a Plan that highlights their expected growth and sales number for the next 5 years. They do plan to introduce further new products once they have the consumer attention focused to their product. Below is their expected first Year revenue for their product Whitening Tooth Gel: Year One Expected Inputs|   | |   | 1. Expected Year One Revenue |   | | Whitening Tooth Gel| Annual revenue | AUD 300,000| |   | Total year one (noninterest) revenue| AUD 300,000|   | 2. Credit Loss Provision probability| 2%| |   | 3. Annual Taxation Rate| 24%| |   | Expected Growth Rate for the first 5 years: 3-7% UNDERSTANDING ISSUES This Tooth Gel research is based on a series of methods for conducting research in the corporate world. The Tooth Gel and Toothpaste market is captivated by various brands and their own mission statements. Famous brands among the consumers like Colgate, Oral-B, etc have a captivating hold on market du e to their own market strategy. Therefore, majority of them are successful to qualify the requirements of the customers.Whitening Tooth Gel has a strong focus on its objectives with those of its trade partners in an appropriate manner to maintain a healthy relationship. The Organization understands that the good results are produced when the process is rightly followed. Whitening Tooth Gel has also developed its company’s ethics and principle that relate to their consumer class. These guidelines provide a great impact in meeting business targets and is committed to its values thereby upholding its highest standards in maintaining customer relations.Whitening Tooth Gel is a new product by DENTALCARE in the current market. Hence the concern is that will a new product be able to grow and capture a significant share in the Oral Care Market. With proven results from pre-launch analysis, will it be easy enough capture the market once the results are seen on a real time basis i. e. response from the consumers. The company may emphasise on marketing research and analysis as to understand the consumer viewpoint on their buying strategy and behaviour towards a new consumer product. VALIDATING THE PROPOSED RESEARCHThe first question that arises is that how will a consumer respond to a new brand of an existing commodity in the market? When it comes to the purchasing, consumers often have an organized approach in what and when to buy. The company must come up with an innovative and almost perfect idea to strategize the marketing research when there are quite a few brands available in the similar product category. A thorough understanding of the consumer buying power and strategy is essential before launching the product. Thus the first task is to divert the consumer attention towards the product by advertising and promotional campaigning.Simultaneous emphasis has to be given to the consumer’s interest, requirements and their expectations from the product. Her e we see the implication of the Market research theory. Once sparked, the interest can lead to the beginning of a new relationship between the consumer and the company which becomes product driven. Once the decision is made by the consumer, it becomes a big responsibility of the manufacturing and research unit of the organization on keep up to the consumer’s expectations and sustains the consistency in delivering the best.The product distribution should be as good as its promotion and the product should be readily available to every individual. Product awareness is within the hands of the marketing and research procedures and largely contributes in providing the products to the majority of the masses. The consumers are not tied up with any contract with a certain brand. They stick to it as long as the brand sticks to its commitment. It’s easier to create a consumer relationship compared to maintaining it in future. RESEARCH METHODOLOGY AND DESIGNThis Methodology proced ure includes various sub categories such as phases, methods, technique task and tools. These sub-categories will highlight the following ways: * To introduce the new product in the existing market * To analyse and develop on the principles of methods and * To successfully validate it i. e. both scientifically and systematically. We followed Descriptive research process to analyse and understand the idea about the research proposal. The results however may vary depending upon a number of economical and ethical factors. The process helps a lot in enhancing the consumer feedback.Qualitative techniques can be performed on the selection of one brand over the other to obtain certain parameters which are of utmost importance in deciding for a Tooth Gel brand. Each key point can be utilized for further development of surveys. The research would most likely be a Brand equity research or Buyer behaviour research. Listed below are a few key questions to understand a consumer’s behaviour towards a newly launched product:. Questionnaire: 1) What Age group do you fall in? 2) Do you brush your teeth twice a day? 3) Are you branding conscious when it comes to buying? ) Why did you prefer Whitening Tooth Gel? 5) Are you satisfied with the product pricing when compared to the results produced? 6) Is there any room for improving the product thereby improving consumer experience? Listed below is the data of a few Blacktown residents who took part in the Sample survey by using Whitening Tooth Gel sample packs offered by DENTALCARE: Sample Frame: Residents of Blacktown NSW Sample Unit : Age Group 21-40 years Sample Size : 50 feedbacks Time Frame : 3-4 weeks Sampling Method: Random Survey. CONCLUSIONThe pre-launch analysis/research immensely contributed to understand the buying behaviour of consumer for their Toothpaste/Gel brands and also helped in understanding about the awareness among people on Oral health. Oral care is one of the most important factor in maintaining over all body health and people are very much aware about their product selection criteria. Different Toothpaste/Gel companies have a focus on the consumer class, their buying capability and their attitude towards preferring a Toothpaste/Gel brand over another and are working harder and smarter to attract more consumers by coming up with more improvements and innovation.The Pre Launch understanding of the Oral care market and the products available is the key result extracted from this research. This research has enabled the company to identify the key areas where the customer would focus when it comes to switching over to a new brand. This nature of customer shall help a lot for our Tooth Gel as Whitening Tooth Gel possesses all the qualities which customer want and is a perfect remedy for all kinds of dental issues. Simultaneously, Advertisements and Campaigning can be done in order to promote the product sales and inturn receiving better consumer experience.Since Dental awareness play s a vital role in overall fitness of human body, free dental check up camps and concessional services to elderly people can actually divert consumer attention towards a product that has already proven its worth on a real time experience. This will help in maintaining a healthy and long term relationship between an organization and the consumer class. References: 1) Australian Bureau of Statistics, viewed on 24th Nov 2012 : http://www. abs. gov. au/ 2) Toothpaste/ Gel, viewed on 24nd Nov 2012 http://www. herbalTooth Gel. et/ 3) Marketing Strategy Material, viewed on 24nd Nov 2012 http://futureobservatory. dyndns. org/2012. htm 4) QUCK MBA, viewed on 25th Nov 2012 http://www. quickmba. com/marketing/research/qdesign/ 5) StudyMode,viewedon2ndoct2012 http://www. studymode. com/essays/Tooth Gel-Marketing-Research-Proposal-800471. html? topic 6) Zeithaml, V. A. (1988): Consumer Perceptions of Pricing, Quality, and Value: Journal of Marketing, 52 (3) 7) Five Year Sample Marketing Plan refe rence from: www. iowacentral. edu/business/BCD/contests/MarketingPlan. doc