Reference no: EM131284983
What do you do when you want fresh breath and a clean mouth, and do not have your toothbrush or water? This can be a challenge to the person on the go with little time and limited access to the necessary things and places. The Colgate-Palmolive Company has introduced an option that claims to provide "a clean, fresh mouth anywhere, anytime-no water or rinsing required." The new Colgate Wisp is a new oral care aide made to remove food and particles from between the teeth and release a liquidfilled bead of freshness in the mouth.
Based in New York City, the Colgate-Palmolive Company "is an American diversified multinational corporation focused on the production, distribution, and provision of household, health care, and personal products, such as soaps, detergents, and oral hygiene products (including toothpaste and toothbrushes)." The oral hygiene market encompasses products offering cleansing, disinfecting, breath freshening, and whitening. This market in the United States represents over $7.5 billion at retail prices.
In this spirited market, innovation is necessary for companies to attain and hold market share. Competitors in this marketplace include some of the largest multinational firms, such as, GlaxoSmithKline, Pfizer Inc, Procter & Gamble, Gillette Co, Oral-B Laboratories, and Unilever NV. The Wisp is a disposable mini-toothbrush with a "breathfreshening bead" in the bristles. The bead dissolves during brushing, eliminating the need for toothpaste, and there is no need to rinse, making it easy to brush at work or on the go. Packaging with an "innovative slim shell design with individually foil-sealed brushes," allows for easy disposal of the used brush.
To prevent abrasion, the brush head of the Wisp contains tiny, soft, and flexible plastic bristles similar to those of a toothbrush. Three flavors are available: a blue bead for peppermint flavor, a green bead for spearmint flavor, and a red bead for "cinnamint" flavor. Innovation must be accompanied with value in the minds of consumers. The price for a pack of four Wisps is $2.39 and the price for a 16-pack is $7.99. This pricing strategy is formulated to reflect the convenient and disposable nature of the product. Colgate-Palmolive's goal is that this pricing strategy will result in gross sales of over $62 million annually during the early years of the product's introduction. The Wisp will be distributed through the traditional outlets for oral hygiene products.
This includes, but is not limited to, drug stores, supermarkets, and mass merchandisers. In addition, the Wisp will be available for purchase online at major retailers such as, Amazon.com, Walgreens.com, and Drugstore.com. Colgate-Palmolive has developed a web site dedicated to the Wisp (www.colgatewisp.com). The web site covers aspects of the product including frequently asked questions, customer reviews, and Internet coupons. The Wisp's promotion campaign includes traditional promotions like print and television advertisements to attract customers that are more traditional.
For the young, urban target audience of 18 to 25-year olds, Colgate-Palmolive promotions include social networking, online video, and mobile applications. The success of the Colgate Wisp is not guaranteed. There is a great deal of competition in the marketing for oral hygiene products and the major players have a good track record for defending their respective market shares. The original marketing strategy for the Wisp's four Ps-product, price, place, and promotion-has been designed to attract as many customers as possible. However, plans do not always achieve the desired goals. There must always be consideration for what may right as well as what may go wrong.
You Make the Call
1. What is the decision facing Colgate-Palmolive?
2. What factors are important in understanding this decision situation?
3. What are the alternatives?
4. What decision(s) do you recommend?
5. What are some ways to implement your recommendation?
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