Step 3: Identify and profile segments
Customer Profile 1 (Demographic)
⦁ First time buyers aged 13-25
⦁ Live in suburbs or in cities and tend to spend time on regular outdoor activities
⦁ Come from middle to high income households
Key Consumer Needs
⦁ Continued use and running cost
⦁ Tend to be new in making personal purchases and do not have access to funds to cover the high costs of purchase
⦁ Concerned about personal hygiene
⦁ Safe use
⦁ Possibly on a budget
⦁ Performance, reliability and design
⦁ Comfort on skin and do not like the pain from the waxing process
Unique Selling Proposition
⦁ Offer an exceptional product that can be used in outdoor areas that offers an adaptable non-disposable design, such as an interchangeable razor…show more content… Threat from substitutes such as waxing products that are sold in the same retail stores, such as Clicks, Pick n Pay and Spar.
The table above illustrates Veet's SWOT analysis
SMART Objectives for Veet
⦁ Specific: To obtain a new, growing female consumer market share in the first twelve months of operations within the hair removal industry.
⦁ Measurable: To sell increasing units of solar owered razors on a monthly basis..
⦁ Achievable: Veet do believe the objectives set are achievable.
⦁ Realistic: Veet marketers must realistically consider how best to use their budget of R1.5 billion to develop and achieve their marketing objectives to sell their new feminine solar powered razors.
⦁ Time: Veet marketers expect that a favorable razor market share will be achieved by the end of twelve months. Veet's business objectives
The following statements reflect the factors highligghted by both the SWOT analysis table and the SMART objectives.
⦁ Veet wants to sell more high quality solar powered and non-disposable shaving razors, during the twelve-month period, to women in the market who participate in outdoor activities. Veet marketers will aim to achieve this by taking advantage of sports activities and beach or summer seasons that motivate the grooming needs of