PRODUCT LAUNCH

Launching a new FMCG Product in Eighteen Months

Table of Contents

Introduction1

Assumptions1

Discussion2

Company Background2

FMCG Industry and Products3

Role of a Marketing Manager4

Launching the New Product6

Conducting Market Research7

Defining the Target Market7

Target Market Demographics8

Interacting with the Target Market8

Preparing Questions9

Focus Groups10

Examining the Results11

Marketing Mix Activities for Gleam11

Product12

Place13

Price13

Promotion13

Time Plan14

Conclusion15

References17

Launching a new FMCG Product in Eighteen Months

Introduction

This paper aims to highlight the many ways that a newly appointed marketing manager is able to launch a new FMCG product into the market. Launching a product, especially consumer oriented is not an easy task, as it requires thorough planning and diligence on behalf of the manager and his team. This is because they have been made responsible for, and are accountable to the higher management for introducing the new strategic business product into the market. New products are usually launched by a company to diverse and expand its products portfolio range as well as with the intention to enter or grab more market share in the industry that the product is being launched into. This paper strives to highlight the ways that a marketing manager plans for the launch of a new FMCG product launch in eighteen months time.

Assumptions

Before progressing with the main discussion, it is vital to note some key assumptions relevant to our case. These assumptions have been made in order to give a lucid direction to the discussion as well as for ease of analysis. These assumptions are as follows

The name of the marketing manager is John

The company that would be launching this new product and for which John is appointed as marketing manager, is an actual business to be specific it is Procter & Gamble (P&G). The reason for choosing a real business is that it shall provide an element of authenticity to our case

The product that is being launched is hypothetical

The market research undertaken, the target and sample population identified is the most relevant to our case, and is representative of the larger population

John has been provided with a team of five who would assist him in the research and strategizing the launch of the product

Three of these team members are assistant brand managers while two are university students about to graduate, who are hired on the post of project interns

The new product planning to be launched is an innovative household good, a laundry detergent by the name of Gleam

The Brand name was already decided by the higher management

Population figures specific to market research, noted are an approximation and are not the real statistics, as correct statistics were not easily available to quote

Discussion

To begin with the discussion for our paper, it is only prudent to begin with the introduction of the company itself.

Company Background

Procter & Gamble has to be one of the world's oldest consumer goods oriented company. With over fifty well established brands in its beauty and household goods divisions. Established in 1837 James Gamble who was a soap maker by profession and a candle maker William Procter, in America. Procter and Gamble were brothers-in-law by marriage, and weighing each other interest and business ...