Bed bath and beyond back scratcher

Describe How Your Marketing Efforts And Marketing Mix Will Change With Each Phase In The Product Life Cycle

Strategy and Positioning Analysis Part 1
Jamie Evans, Tasha Higgins, Nathan McClure, Chris Gilbert, and Malcoma Tibbs
MKT/421
April 4, 2016

Professor Mark McClintock

Strategy and Positioning Analysis
Introduction

For our week three assignment, we decided to take a look at the new product a battery operated back scrubber that can be found in the store Bed Bath & Beyond. In this analysis, we will describe the organization's background and industry. We will describe the back scrubber is and what it can do, provide the SWOT analysis of the organization and offering, describe the target market. Next, we will identify the needs that cause the target market to buy; we will also include a positioning statement that identifies the product, the target market, how the product solves the target market's needs, and what makes this organization different from the competition.
About Bed Bath & Beyond

Bed Bath & Beyond Inc. was incorporated in 1971. The company later changed its name to Bed Bath & Beyond. The products sold by this company can be brought online, in the store, or can be purchased by using a mobile device. This company is known for several names. According to "Thompson Reuters" (2016), this company is known as Christmas Tree Shops, Christmas Tree Shops andThat! Or andThat!, Harmon or Harmon Face Values, buybuy BABY, World Market, and Cost Plus World Market or Cost Plus. This company sells a range of products such as bed linens, kitchen appliances, bathroom items, tabletop items, and home furnishing goods. This company has been able to expand its business over the years. As of December 2014, Bed Bath & Beyond has 1,513 stores in 50 states.

The Product: Battery Operated Back Scrubber

The product that we are selling is the battery operated back scrubber. This product is waterproof so that it can be used in the shower and also has a changeable head. This product is sold with one pair of batteries and various heads for the scrubber that can be utilized. The different heads include soft, medium, and firm bristles that can be changed to the consumers liking. This product can be used as a back scrubber, but once a washcloth is placed on the scrubber head, the product can then be used for bathing your back.

SWOT Analysis

Strengths

Weakness

Marketing clear product performance

Water Proof battery operated technology

Uniqueness standing out from competitors offering more flexibility to clean and massage back

Different features in one device

Easy access to hard to reach areas.

No other device like it on the market

Expertise

Cost

Project Management

Low Risk Process

Procurements and supplier management

Investments

Opportunities

Threats

Market to Nursing homes for elderly, gyms, and hospitals.

Customer Loyalty Loyal customers of Bed Bath and Beyond looking for more advance back scrubber

Technology development

Competitors could mimic the device

Shop Lifting

Price fluctuation

Inventory control

Target Market

Basically the term “market segmentation” means subdividing a market along some similarity, commonality, or kinship. Members of a market segment share some things in common. The main reason for segmentation is the concentration of marketing power, energy and force on the subdivision to attain a competitive advantage within the specific segment. It’s very similar to the “concentration of force” principle that is applied in the military to overwhelm the enemy. Concentration of marketing force and energy is the essence of all marketing strategy, and market segmentation is the principle tool to help achieve this objective. (McDonald & Dunbar, 2004)

Geographic Segmentation

This is generally the most common type of market segmentation. It’s a condition where companies segment the market by targeting a specific geographical area. For instance, Bed Bath & Beyond Inc. may choose to market its brands in certain specified countries, but not in others. The battery operated back scrubber could be sold only in one market, one region, one state, or one of the United States in order to achieve concentration of force. (Cahill, 2006) Regional differences in preferences of the consumers are common, and this hence providing a basis for geographic specialization. For example, Bed Bath & Beyond Inc. might choose to market its back scrubber only in the southeastern U.S. Segmenting geographically can be exhibited in different forms (north versus south, urban versus rural, , warm areas versus cold ,seacoasts versus interior, high-humidity areas versus dry areas, high-elevation versus low-elevation areas, high-humidity areas versus dry areas just to mention a few). There is a revelation from these examples that geographic segmentation is sometimes a means to other types of segmentation. (Wedel & Kamakura, 2000)

Demographic Segmentation

Income, gender, housing type, age, and education level are the most commonly applied demographic variables. Bed Bath & Beyond Inc. can segment its target market by doing a fact finding on the ground and ascertain which group in the population are more likely to be interested in purchasing their battery operated back scrubber. (Service., 1971) Education levels more often define market segments. For instance, the highly educated are more likely to be advanced in technology and therefore the likelihood of forming a good customer base for the product. It’s also worth noting that by targeting women, much is likely to be achieved since women are known to love new inventions especially in the line of sanitary and beauty unlike in the case of men. Demographic segmentation almost always plays some role in a segmentation strategy. (McDonald & Dunbar, 2004)

Behavioral Segmentation

Behavioral segmentation is actually based on the on the consumers behavior towards the product. This will help Bed Bath & Beyond Inc.to come up with a good market strategy for its new product. Some of the behavioristic factors or variables that the company can concentrate on are the benefits that the consumer seeks, the usage rate, the loyalty to the brand, the readiness to buy, the user status or maybe the occasions when he buys. It’s worth noting that in the case of battery operated back scrubber, the benefits that are likely to be sought include softness, cost effectiveness and maybe the speed of the machine. This form of segmentation has an advantage of making use of variables that are closely related to the product. Behavioral segmentation basically divides consumers into groups based on the way they use, respond and know the product.

Psychographic or Lifestyle Segmentation
We come to psychographic (or lifestyle) segmentation that is based upon multivariate analyses of consumer, values attitudes, emotions, behaviors, beliefs perceptions, and interests. Psychographic segmentation is a clear and legitimate way of segmenting a market in situations where we can identify the proper segmentation variables like pictures, lifestyle statements, words just to mention a few. Qualitative research techniques like ethnography, focus groups, and depth interviews become invaluable at this stage since it provides the conceptual knowledge, insight and the consumer’s exact language that can help in designing the segmentation questionnaire. Typically verbal comments from consumers are usually used to build the base for psychographic or lifestyle statements. (Wedel & Kamakura, 2000)

A big representative sample of customers that can be 1,000 or more are then probed the degree to which they agree or disagree with the various statements. For example, if you were designing a market segmentation questionnaire for Bed Bath & Beyond Inc. you might conduct a fleet of in-depth interviews to help design the questionnaire. You probably would include a behavioral section like frequency of bathing, how he/she bathes or the kind of work one does. You would include a major section on attitudes toward the battery operated back scrubber like motivations for using it, fears related to its usage, positive emotions of using the scrubber, attitudes about Bed Bath & Beyond Inc. among others. You would also be interested in including a section on perceptions of the company like bad images. At this point you will realize the questionnaire is too long and hence be forced to make some difficult decisions concerning which questions or statements to include. (McDonald & Dunbar, 2004)

The method of collecting data is very important since the questionnaire is too long. The telephone is not usually recommended for these studies because of questionnaire length. It’s also worth noting that attitudinal statements and various rating scales are hard to communicate through phone hence resulting to insensitive phone data. Its better you use in-person interviews, mail surveys or Internet-based interviews. Seeing is much recommended than hearing since it produces much more accurate answers. Internet survey is more valuable for segmentation studies since respondents can participate in the survey at their own chosen time when they can give it their full and undivided attention. (Cahill, 2006)

Positioning Statement

People looking for a back scrubber that goes above and beyond others out there, the revolutionary back scrubber from Bed Bath and Beyond will leave your back and body feeling rejuvenated and exceptionally clean. The combination of waterproof technology and changeable scrubbing heads puts this product in a league of its own. Men, women, young and old cannot resist the urge to clean with this unbeatable cleaning system. This back scratcher gives your bathing experience a twist that will surpass any other.

The fully waterproof, battery operated back scrubber come equipped with interchangeable brushing heads that rotate and scrub the daily grime from those hard to reach places. The brush bristles range from soft to firm, making this a unique and customizable back scrubber. After a long day at work, taking a shower can become bothersome when you have to stretch and strain to reach unreachable places. The slick design and easy grip handle is designed with comfort and ease in mind. The handle extends to just over a foot, giving even the tallest of individuals the extra reach to cover the entire body. The changing heads are washing machine safe and made of a mold proof bristles. One brush could easily last for more than a year and the replacements are relatively cheap. This back scratcher is available in stores and online with free shipping for a limited time.

This back scrubber carries a lifetime warranty, and include batteries that are fully rechargeable and carry their own manufacturer’s lifetime warranty. To make thing even better after you purchase your own you get receive a $25.00 gift card for any Bed Bath and Beyond product, even some accessories for the last back scrubber you will ever have to buy. This back scratcher has several colors to choose from, and are available in a size to fit everyone in the family. Bed Bath and Beyond is committed to listening to the consumer and providing quality products that fit the needs of the entire family’s bath time experience.

The competition back scrubbers do not bring the anti-mold technology, nor do they offer a lifetime warranty. This is a back scrubber that will get your back and body thoroughly clean. This back scrubber is customizable and with the replaceable scrubbing brushes with the perfect texture for everyone. Bed Bath and Beyond does not fail to deliver when it comes to quality and assurance. there is a money back guarantee if after 30 days you are not satisfied with Bed Bath and Beyond’s new innovative back scrubber.

Competitive Analysis

The battery operated back scrubber is the only item on the market of its kind. Bed Bath and Beyond’s competitors that also offer back scrubbers are Target, Proactiv, Walmart, Kohl’s, TJ Maxx and Sears. There are other products that are made for scrubbing backs while in the shower and during bath; however, no other product is battery operated, turns while scrubbing your back and also has interchangeable heads. The heads are able to change from a wash cloth, to an exfoliating loofah, to other varieties that include hard and soft bristle cleaning heads.

Our targeted customers will be both women and men. The battery operated back scrubber is also considered suitable for gift giving as it does not have a short life span like the ordinary back scrubber. Our customers will want us to offer something that they are unable to find in the ordinary back scrubber. Our customers will notice that they will not have to do much of the back and forth motion that you have to do while cleaning with an ordinary back scrubber, as the battery operated back scrubber’s head will turn in a circular motion while cleaning their back. They will also find that our product comes with a life time warranty and replaceable battery. This is guaranteed to not be found by any other product on the market or by any other company. While the cost of the back scrubber will be higher than the ordinary back scrubber, the benefits and quality of it will be worth the tradeoff. At this time there is not much competition in the back scrubber offered by Bed Bath and Beyond as it is the first like it. I do not believe we will have a problem selling the scrubber or gaining consumers interest.

What Causes People to buy?

Hygiene is an important regular activity for any person to stay healthy. As a child, one may have a parent scrubbing your back for you, but as you grow older maintaining good personal hygiene becomes your own responsibility. However, because of our physical anatomies there are some places that are more difficult to reach. But that does not mean we should let these areas go unattended. According to a health.gov, “Good personal hygiene habits include washing the body often. If possible, everybody should have a shower or a bath every day.” (). So we know we need to wash our bodies and in the case of our backs it is difficult to do. This back scrubber can help make that task easier so there is certainly a way to make the customer perceive a need for this product.

But why this one back scrubber in particular? According to George Torak “Our emotions trigger us to buy.” (Torak, 1999). He also states that “You will be more successful when you market and sell to the emotional wants of your prospects.” The goal with this product will be to blur the lines between need and want with needing a back scrubber and wanting this one. With this knowledge in hand, we should market this product with packaging that is attractive and triggers an emotional want in the target market. In addition to the packaging the opportunity exists to use the additional features this product provides to foster a perception of need in the customer. With the automated action the efforts usually exerted with a manual scrubber will be compounded. Citing studies that were designed to show increased effectiveness of this product can also be beneficial in creating a feeling of needing this better product.

Conclusion

In conclusion, we feel the operated back scrubber will be successful in this market. We have discussed the background of Bed, Bath, and beyond, we have described what the product is, we have shown the SWOT analysis of the organization, explained the competitive analysis of the organization. We have also defined the target market, identified the needs that will cause the target market to buy this product, and we have provided the positioning statement. After this has been reviewed, we feel that all will see that the battery operated back scrubber will be beneficial to all making it successful in this market.

References

Thompson Reuters. (2016). Retrieved from http://www.reuters.com/finance/stocks/companyProfile?symbol=BBBY.O

Kerin, Roger A., Hartley, Steven W., & Rudelius, W. (2015). Marketing, 12th ed. McGraw-Hill Education. New York: NY.

Articles for Business Professionals, George Torak 1999 Retrieved from http://www.torok.com/articles/marketing/5EmotionalTriggers.html

7 Personal hygiene, 2010 retrieved from http://www.health.gov.au/internet/publications/publishing.nsf/Content/ohp-enhealth-manual-atsi-cnt-l~ohp-enhealth-manual-atsi-cnt-l-ch3~ohp-enhealth-manual-atsi-cnt-l-ch3.7

Cahill, D. J. (2006). Lifestyle market segmentation. New York : Haworth Press.

McDonald, M., & Dunbar, I. (2004). Market segmentation : how to do it, how to profit from it. Amsterdam ; Boston: Elsevier/Butterworth-Heinemann.

Service., P. M. (1971). Market segmentation. [North Sydney, N.S.W.]: P.A. Management Consultants Pty Ltd.

Wedel, M., & Kamakura, W. A. (2000). Market segmentation : conceptual and methodological foundations. Boston: Kluwer Academic.