While the direct customers are mothers and mothers to be the target retailers are Mothercare, Sainsburys or any retailer that stocks baby products. The aim of this project report is to create a market plan for the project report and structure applications, promotions price and distribution of this product.
"The current baby bottle market in the United States is estimated at $154 million. Of this amount, reusable baby bottles hold 55.2 percent, $80 million of the market, while the remaining 48 percent is held by disposables. Disposables are defined as baby bottles that are designed for bottle liners and the liners are discarded after each use. The disposable market had grown to a peak of 53 percent of the baby bottle market in the United States, but had shown a steady decline as a percent of the total market over recent years. The average customer for a baby bottle product is a female in her late twenties who is, or will be again, employed outside the home. Because the majority of customers of baby bottles work outside the home, time and convenience is heating bottle accurately are of the essence"
After peaking at a post-baby-boom of 4.16 million in 1990, the number of births in the United States is expected to stabilize at approximately 4 million and remain at that level through the turn of the century. The current baby bottle market in the United States is approximately $154 million, or 73 million units a year. Currently, reusable bottles constitute 52 percent of the baby bottle market, or 38.6 million units a year. Reusable bottles have increased their market share over disposable bottles by an average of 2 percent a year over the last years. The trend of reusable bottles capturing a larger share of the baby bottle market is expected to continue over the net several years.i
Competition and Competitive Advantages
Although there are several major competitors in the baby bottle industry, none of these are currently marketing a product that indicators the temperature of the liquid in the bottle.
Researching the Marketplace
Before embarking on the path to retail sales, companies should fully understand the consumer market and how their product might fit into it. That is true for the rainbow bottle as well
"If the product category already exists on retail shelves, then the new product should be differentiated from existing competition. A me-too product is unlikely to unseat established brands already selling well. However, if the me-too product has a price advantage, there is an opportunity to displace an established product. Increasingly, private labeling for the retail store is an available option."ii
Successful companies seek to differentiate their product by giving it features that are desired by consumers. Also, they make sure that consumers are willing to pay any resulting difference in price. In retail sales, conducting research among potential consumers of a product is necessary for understanding the marketplace and ensuring success. There is a clear cut differentiation with the Rainbow Bottle. It is different from the other baby bottles and satisfies a genuine need for mothers
New Product Category
If a company seeks to market a new product that is not in an established retail category, its need to conduct market research is even greater. The company