Dollar Shave Club is an American company based in Venice, California, which transports razors and additional personal grooming goods to consumers by mail. Dollar Shave Club was founded by Mark Levine and Michael Dubin. It offers three membership tactics, which can be upgraded or downgraded at any time.[It distributes razor blades on a regular basis and offers supplementary grooming goods for home delivery.
This market plan forms the basis of the outline of an advanced and exceptional product called ‘Beard Wash Self Kit’. The analysis permits us to the finest approaches to help our product be successful with the external and internal environment which we have best analyzed at our best understanding. 'Beard Wash Self Kit' will be advertised as an exclusive and convenient product for customers who need and want to have good beard. It appears like adults associate well presented, frizz free and silky hair with self-confidence. It will steadily be offering high customer satisfaction by interpreting outstanding service, excellence products, and giving a pleasurable atmosphere at a suitable price connection. We will also be keeping a welcoming, fair, and inspired work atmosphere, which respects diversity, thoughts, and hard work.
Goals and Objectives
To meet/satisfied the desired needs of consumers;
To provide them unexceptional experience;
Provides an opportunity to enhance the growth of business in future;
Utilize money and time of our customers;
Helpful to make our customers self dependent.
STP Analysis
Segmentation
It basically depends on the customers by dividing them into different groups and segments based on their own characteristics.
We will be taking into consideration the interests of the consumers and requirements too by doing a survey to figure out if our consumers need this Kit in different sizes, in different design according to their own interests or how much they can afford to pay for this product.
For the ‘Beard Wash Self Kit’, I persume that this product will be segmented based on its brand name which can attract adults to buy this product
We will also be focusing on the geographic segment by offering this product in each and every rural and urban location so that everyone can try and understand the benefits of this product as it can make their life easier.
Targeting
The main target of our company’s product will be men and adults who should have to use this product because they are growing up
Nowadays, they are going to saloons and spend too much time and money over there but if they will try this beard wash self kit then it can save their time and money too
They can use this product daily or even rarely whenever they feel need to as there is no compulsion to use this regularly
They can buy this product as its their need nowadays to clean off the beard to look young and attractive.
Positioning
The postioning of my product depends on the diffrentiation as this product provides self features to the consumers;
In this era, we have numerous beard wash kits so it has a huge competition;
We made our product easily accessible for our consumers by offering it through online and thorugh stores;
It is offered on reasonable and affordable pricing as compares to other competitors.
Marketing Mix: 4P'S
Our main focus when distributing the product will be like it should provide value to the consumers. So, they can understand the usefulness of the product which will indirectly enhance the sales. We will be selling this product at a very affordable price. The location will remain the same at this will be the part of the Dollar Shave Club Company’s product. But we will try to expand it by offering it to retailer, wholesaler, online and through direct sale as well. We will be introducing with this new product many new discounted offers which will be valuable for our consumers. We will be advertising this product via posters and by making advertisements online. Once agreement has been obtained for ‘Beard Wash Self Kit product’, we will move rapidly to implement the plan. We will likewise set up controls to screen and measure the results of the project to ensure the desired objectives are achieved.
Product. Our product’s first strategy is to offer best services that go well above and beyond the Dollar Shave Club. We will be mainly focusing on adults/grown-ups. The essential task to get Dollar Shave Club into the ‘best’ ground of ‘Beard Wash Self Kit’ is to guarantee the workers in an extra area. This is the duty of each individual worker, as well as the owner. The secondary product strategy includes keeping the retail locations open to clients, and offering products for adult’s use.
Price. The strategy for pricing at Dollar Shave Club is to keep up a serious edge without undercutting ourselves. Keep costs tiered and variable; change them occasionally and offer discounts. The owner will be entrusted with assessing the estimating plan with the assistance of the bookkeeper, and modifying varying. Dollar Shave Club has accounted $2,000 for advertising this product named ‘Beard Wash Self Kit’. These assets have already been planned for in the business plan. Dollar Shave Club has shattered down the cost by separately advertising method.
Place. Dollar Shave Club will remain in the current location, while holding an ear to the ground for chances to grow inside a similar structure. The owner will keep up his positive relationship with other owners to expand it.
Promotion. The promotion strategies of Dollar Shave Club for the ‘Beard Wash Self Kit’ product is to maintain a strong social media presence and to create a new website. The task of updating Facebook, Twitter, and other social media sites will be tasked to each individual worker for the promotion of “Beard wash Self Kit product”.