Swot Analysis Of Cosco Glycerin Soap

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Who is our customer? Most of the people in Bangladesh live below the poverty level. So it is obvious that their income is also very low. They are even unable to fulfill their basic needs and because of that they do not spend much on consumer products. So keeping these in mind we have targeted these low income people as our target group for Cosco glycerin soap. We are mainly targeting lower class and lower middle class people specially people from rural area that have a very low income and beauty conscious but cannot afford international beauty soaps. What is their need? Though our target group has a very limited income but still they are very concerned about their skin and beauty. Especially the young people, both male and female are very much…show more content…
How our product will fulfill those needs? We are not only re branding Cosco glycerin soap we are also improving its quality. We are not using any artificial ingredients in it and also launching three new flavors with new fragrances. Our soap will be a fairness soap plus a skin care soap as well as it will not be harmful to the skin rather it will make the skin smoother, softer, glowing. Moreover we are offering the new Cosco glycerin soap at a comparatively low price than other beauty soaps so that our target customers can easily afford it. So our effort will be able to fulfill the needs of our customers and make them happy. Target market A target market is a group of customers that the business has decided to aim its marketing efforts and ultimately its merchandise. A well-defined target market is the first element to a marketing strategy. The target market and the marketing mix variables of product, place(distribution), promotion and price are the two elements of a marketing mix strategy that determine the success of a product in the…show more content…
Cosco is targeting the lower class to lower middle class people. Employment status: Occupation and Income is one of the major determinants of consuming a product but in order to consume Cosco there is no required to be employed somewhere, it is for student and of any other occupation Marital Status: It is for both married and unmarried people. Purpose of use: For beauty purpose, for feeling fresh and revive, for getting good skin, for feeling glamorous User type: Medium, frequent Lifestyle: A lifestyle typically reflects an individual's attitudes, values or worldview. Therefore, a lifestyle is a means of forging a sense of self and to create cultural symbols that resonate with personal identity. Buying pattern of a product can be influenced by the lifestyle of the consumer. For example a consumer might buy a product in search of trying a new thing, or to help with charity and social cause. Cosco definitely fits in lifestyle of any other people. Cosco is a local brand and the quality of the product is compatible with any other local brands. It is a 100% Halal soap, so it also satisfies the need of Islamic minded people. Target Audience’s Lifestyles: Cosco definitely fits in lifestyle of young, energetic & beauty conscious whose income is low Also people who look for freshness and purity People who definitely wants

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