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Apr 3, 2024
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Bounty, a household name synonymous with reliability and trustworthiness in the realm of paper
towels, is set to embark on an unprecedented journey into the Canadian feminine care market. Leveraging its established brand presence in every household, the company aims to introduce a
new line of sanitary menstrual products capitalizing on its reputation as a go-to brand.
Bounty's foray into the feminine care market comes on the heels of a comprehensive market analysis. The Canadian sanitary pad market has shown steady growth, presenting a lucrative opportunity for expansion. With its existing customer base and widespread brand recognition, Bounty is strategically positioned to carve a niche in this segment.
The Sanitary Pads market in Canada has shown a positive compound annual growth rate (CAGR) of 5.47% from 2015 to 2020. In 2020, the market experienced significant growth with a 12.85% increase in sales value, reaching CAD 258.21 Million. It’s safe to say that the market is growing.
PESTLE Analysis
Political: Political support or regulations related to hygiene product accessibility and affordability could impact the market.
Economic: Economic factors, such as affordability concerns, highlight challenges and opportunities for businesses to address pricing strategies and consider economic trends.
Social: Societal shifts towards breaking menstrual stigma and fostering educational initiatives contribute positively to the market's growth.
Technological: Advancements in technology can influence product innovation, manufacturing processes, and digital marketing strategies within the menstrual hygiene market.
Legal: Compliance with legal standards for product safety, labeling, and advertising is crucial in this industry, ensuring consumer trust and satisfaction.
Environmental: Increasing environmental awareness is driving demand for sustainable and eco-
friendly menstrual products.
Porter’s Forces Analysis
Buyer Power: Consumer bargaining power is influenced by affordability concerns. The Brand needs to respond with competitive pricing and address the economic factors affecting buyers.
Supplier Power: Diversifying sources of raw materials and negotiating favorable terms can help mitigate the supplier's bargaining power.
Threat of New Entrants: Established brands and economies of scale act as barriers to entry.
New entrants would need to differentiate themselves to compete effectively.
Threat of Substitutes: The threat includes alternative menstrual products and educational campaigns. Companies should focus on product differentiation and awareness.
Competitive Rivalry: A growing market indicates intensified competitive rivalry. Differentiation and market share strategies become crucial for sustained success.
Key takeaways
Growing Market: The market for menstrual pads in Canada is experiencing growth, driven by societal shifts, increased awareness, and a focus on sustainability.
Affordability Challenges: Affordability concerns, highlighted in the survey, indicate the need for businesses to address pricing strategies to meet consumer demands.
Sustainability Matters: The trend towards eco-friendly options signifies the importance of sustainability in product development and marketing strategies.
CUSTOMER ANALYSIS
The goal of our new sanitary pad line, which will be sold under the Bounty brand, is to give women access to dependable period hygiene products that satisfy their demands for comfort, absorbency, and confidence. By utilizing Bounty's well-established reputation as a household name associated with dependability and quality, our goal is to expand that confidence to include
feminine hygiene products. In addition to providing exceptional absorbency and protection, these sanitary pads will give ladies the comfort and convenience they need during their monthly cycle. We want to provide our consumers with superior service and establish ourselves as their first choice for all household hygiene requirements by offering a product that lives up to Bounty's
stellar reputation for quality."
Customer Journey
Awareness:
While on social media, 30-year-old Sarah comes across an advertisement for Bounty's newest sanitary pads. She chooses to find out more about the product since she is intrigued by the reliable Bounty brand name and the product's claimed enhanced absorbency.
Thought:
In order to learn more about the new sanitary pad range, Sarah goes to the Bounty website. She reads about the characteristics of the pads, such their cozy design and incredibly absorbent core. Sarah puts the sanitary pads on her buying list after being impressed by the brand's standing and the encouraging comments she discovers online.
Purchase:
Sarah goes to her neighborhood supermarket and notices that the Bounty sanitary pads are clearly marked in the area dedicated to feminine care. Recalling the encouraging details she came up on the internet, she boldly chooses and places a pack of Bounty pads into her shopping basket.
Usage:
Sarah uses the Bounty sanitary pads during her menstrual period. She can easily carry out her everyday tasks because she finds them to be quite comfy and absorbent. She has faith in the pads throughout the day since they offer dependable protection.
Loyalty and Feedback: Sarah is thrilled with her experience and tells her friends and family how great the Bounty sanitary pads are. She expresses her happiness with the product in a positive review that she also posts on the Bounty website. Sarah is pleased with the performance and
quality of the pads, which makes her a devoted customer who will only use Bounty going forward for all of her feminine hygiene requirements.
Advocacy:
After reading Sarah's recommendation, Sarah's pals decide to give the Bounty sanitary pads a try. The product's comfort and efficacy impress them as well, which encourages additional endorsement and word-of-mouth marketing throughout Sarah's social circle.
The aforementioned scenario demonstrates the effective navigation of Bounty's new sanitary pad line by the client from initial awareness and consideration to purchase, usage, and advocacy.
Impact on decision making
Internal Factors
Requirements and Preferences:
When it comes to making decisions, customers' individual requirements and preferences are a major factor. When selecting sanitary pads, factors including absorbency, comfort, and dependability are crucial to take into account.
Views and Attitudes:
Consumers' decisions to test the new sanitary pad range may be influenced by their opinions and attitudes regarding the Bounty brand as well as by their prior interactions with the brand.
Emotions: A customer's decisions may be influenced by feelings like contentment, trust, and confidence. A stronger inclination to try the new product may result from favorable feelings connected to the Bounty brand.
Self-Identity: Consumers might also think about how buying sanitary pads fits in with their values and sense of self. They might, for instance, favor companies that share their values regarding social responsibility or sustainability.
Outside Factors:
Social Influences:
Consumer decisions can be influenced by social factors including referrals from friends, family, or influential people. Positive social evidence and word-of-mouth can raise the new sanitary pad line's perceived value.
Cultural and Societal Norms: Menstrual hygiene and brand preferences are two areas where cultural and societal norms can influence consumer decisions. Consumers may be swayed by cultural ideas about certain brands' femininity, cleanliness, and reliability.
Marketing and Advertising:
Customers' knowledge, perceptions, and preferences for the new sanitary pad range can be influenced by Bounty's marketing and advertising efforts, which include message, branding, and promotional activities.
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