Industry Analysis Archives

Opportunity Analysis: Pet Coach

Assessment Answers, EXTERNAL ANALYSIS, Financial Analysis, Industry Analysis, Investment, OPPORTUNITY ANALYSIS, PESTLE Analysis, Swot Analysis

Pages:10

1.0 Introduction

Entrepreneurship is defined as that mind-set that gives someone the ability to see opportunity everywhere (co-founder of Sweeten) This can be a business idea and it can also mean the ability to see the opportunities in people that can help someone grow the company.

Mauritian economy encourages young entrepreneurs with great incentives. SMEs contribution to the Gross Domestic Product (GDP) is 40 percent and accounts for 54.6 percent total employment in the country.

Pet Care is a good investment opportunity in Mauritian market as people love their pets, and they are willing to provide them with the standard quality of grooming and care when they are away or busy.

1.1 Opportunity Analysis

For the past decades, there have been many incentives and supports given to enterprises for the promotion of the SME sector in Mauritius. The Start-Up Scheme that provide financial support of up to a maximum of Rs. 100,000 to entrepreneurs to set up their enterprise.

The trends that effect the pet care industry includes the increase in disposable income of middle-income group and rising trend of nuclear families. Moreover, people are adopting more pets and demanding higher quality pet products and services (Market, 2019)

The Mauritius commercial bank had teamed up with the DCDM Research to investigate on the mindset of entrepreneurs, their behaviours and motivations with regards to same.

In Year 2016, the SME sector contributes approximately 40% to the GDP and employs around 300,000 people in the country (55% of total employment).

1.2 Company

This report provides not only the opportunity analysis, but also my affection for pets. I have always been a pet lover and the idea for pet care business originated from my passion for pet grooming and pet sitting. The goal is not just to start a business, but to form a work family who work with integrity and radical transparency with clients and provide services with excellence.

Mission

To provide innovative, high-quality, consistent, value-for-money, pet friendly service that will make your pet want to come back again and again.

Vision

Vision: To bring integrity and excellence in the pet care industry and become the number 1 service provider in Mauritius.

1.3 Key People and Skills

Pet Coach intends to open two branches, one in Balaclava and the other one in Trou aux Biches

Training pets require skills and time; therefore, the firmwill employ professionals with experience in dealing with pets but most importantly animal lovers. The veterinarians possess technical skills, e.g., first aid, wound stitching, sterilization of surgical instruments. The administrative clerk with top communication skills and administrative, two carers who have the know-how of Pets’ grooming and especially those who know the premises and safety measures of Pets (especially dogs). There will also be 2 drivers, one of which will be on part time basis, and the finance administrator in charge of all financials of the company.

2.0 External analysis

The World Trade Organization considers Mauritius’s investment apparatus as “open and transparent.” (Freedom, 2019). Mauritius’ GDP expanded by 3.4% in June 2019. While the GDP per capita reached 10,992.3 USD. Mauritius Consumer Price Index (CPI) for February 2020 was estimated to be 2.1%. Moreover, the Gross Saving rate of Mauritius was 6.8% in 2019. (CEIC, 2020). These macro indicators show the financial condition of Mauritius. Over 4 million pets are transferred by air, Millions of people are choosing to take their pets while they travel. According to LA Traveling magazine, Millions tend to marry later, and often spend a vast amount of money on their pets (Forbes, 2019).

Analysis

Political

A robust legal framework protects property rights and improves business acumen. Political stability will help pet coach in many ways including traveling, tax payments.

Economical

In terms of Business Confidence, Mauritius has moved up the ladder to 161.60 index points in 2019. The average compensation for labour has increased by 5.1 percent (Anon., 2019). The literacy rate of Mauritius is 93.16 percent (UNESCO, 2016), having educated and well-spoken staff and employees will prove to be beneficial tothe business.

Social

Poverty and inequality is not a serious challenge in Mauritius which means the residents are not too poor to afford pet care services. Moreover, the government of Mauritius contributes a lot to social inequality and social justice, enabling businesses and service providers a safe and secure environment, social benefits will help pet care expand its business further.

Technology

Smart cities and techno parks is another pillar, which the government believes can assist inturning Mauritius into an intelligent island. Pet Coach is a mobile pet care service provider and is directly associated with technological improvement in the country.

Legal

Intellectual property rights are protected in Mauritius by the Trademark act of 2002 (Bheenick, 2018) making it secure and safe for pet coach to purchase new assets. According to Mauritius workers’ law, 2019 monthly salary of an employee must not increase MUR 50,000 (except for some sections), and an employee shall not work more than 12 hours a week (Yuen, 2019). Pet coach will provide its employees all the required and legal incentives.

Environmental

Environmental protection Act of Mauritius is responsible for assessing and reviewing environmental regulation. Pet Coach will abide by the rules . Tropical cyclones can cause damage to property. However, there is a system of warnings and Pet Coach will adhere to the advice issued by local officials (Environement, 2019)

3.0 Industry analysis

Some of the noteworthy trends in Pet care industry:

Pet Parenting

Pet owners are treating and taking care of their pets, like family members. Pets provide companionship to their owners. Pet care and Pet products are associated with pet humanization because pet owners want to buy similar products and acquire the best services for their pets as they would for their child. Pet humanization gives rise to other trends in the pet industry. Few examples of pet humanization are per-friendly traveling service, therapy sessions, opulence grooming routine. (INTERNATIONAL, 0CTOBER 2016)

Pet Obesity

Obesity research done in the United States by the Association for Pet Obesity Prevention (APOP) found that almost 35% of the dogs and about 28% of the cats in the US are obese. The pet obesity is the cause of inappropriate human food provided by pet owners, not having a proper exercise routine, and too much eating. (INTERNATIONAL, 0CTOBER 2016)

Premium Products

Pet premiumization means getting the premium level products for pets. Consumers who demand premium products and tools for their pets are middle class and urban living pet owners. (INTERNATIONAL, 0CTOBER 2016)

Source: Globeenewswire.com

3.1 SWOT

STRENGTHS

First-ever mobile application-based Pet grooming and Pet care platform in Mauritius
Managing the business will be easy as most of the time, pet-sitters will be traveling places, which reduces the operating cost.
No inventory; this reduced the cost of business.
Pet grooming tools and products are easily accessible on e-commerce platforms.

WEAKNESSES

Establishing a brand name for any new business is a hurdle. Marketing and Advertisement will help overcome this problem.
Initially, getting your business started could be very costly. Having a low budget will prove to be a big hurdle.
Having strong business links and PR (Personal relations) is essential. It might take time to establish ties with clients and locals.

OPPORTUNITIES

The increasing use of the mobile and internet will make it much easier to reach out to new customers, making it easy for business expansion.
Increase in Business confidence (Economics, 2019)
Turning passion into profit. Being a pet enthusiast could be profitable and a great opportunity for business.
Once the business has successfully made a brand image, then further franchising to other passionate pet groomers is another opportunity to grow business further.

THREATS

Increasing competition
The higher cost of services (Economics, 2019)
Volatility in the exchange rate
An already established business might start providing mobile-based facilities as well (copying our business idea)

4.0 Financial analysis

One thing is clear that there would always be a demand for organizations and individuals pet owners whose demand is extra coaching and grooming for their pets. That is the primary reason why Pet grooming and training will still be required. To start-up capital estimated for Pet Coach is 2.3 million MUR (USD 53,000), which constitutes of 1.3 million MUR loan from a bank and 1 million MUR is personal deposits and some loans (from relative and family members).

One of our primary goals of initiating the Pet Coach is to start a business that will survive off its cash flows without the need for financial resources from outside sources once the business is officially running.

4.1 Investment Outlay

Total number of employees 20	Employee wages per month 35,000 MUR 700K total
Advertising and Marketing Billboards, Social media marketing	40,000 MUR
Transport (10 bikes and twotrucks)	300,000 MUR 670,000 MUR
Tools and equipment	100,000 MUR
Tax and legal payments	50,000 MUR
Inventory and warehouse	200,000 MUR
Total	2 million MUR

Source: self-work

Generally, for Pet grooming and Pet sitting, prices are charged on an hourly basis, but Pet Coach’s pricing strategy is different. They will charge a flat fee for the service, except for, few cases which may require different pricing. E.g., Pet Coach will invoice 700 – 800 MUR for pet sitting. Additionally, if the client needs 24 Hours service or more than 24 hours, the charges will vary. Similarly, during holidays prices charged shall be a little higher than usual due to excess demand for service. Keeping in mind that there would be some clients who wouldn’t mind paying extra bucks for their pet routine and grooming and for that Pet coach has established a premium and tailored services, according to clients’ needs. The Payment policy will be entirely inclusive. Payments transaction shall be accepted via Bank Transfer, via Cheques, via Mobile Payment and Cash payment.

5.0 Exit

Pet caring is considered a “hot” opportunity for business start-ups. But, in a situation where the business doesn’t go as planned, the pet coach has an exit strategy.

Merge with an already established business. Sell 51% of the business shares and the controlling power.
Complete sell-off to another firm or business who will acquire the management as well as the capital of the business.

6.0 Conclusion

As per the report, it is concluded that Pet Coach is a viable business opportunity. Bringing a revolutionary and to the Mauritius market. It will prosper in the future as the business is technology-driven, and the targeted audience is expatriates and tourists. With extensive research and business strategies, Pet Coach has the know-how of consumer taste, preferences, and, most of all, customer needs. With PESTEL analysis on the front, the business will be sustainable in the long run producing more jobs to the locals and expansion of business opportunities.

Appendix

Potential of New entrance

§ Initial cost is low

§ Tools and products are easily accessible.

§ No barrier to entrance

Power of Customers

§ High customer loyalty

§ Pet coach has different service identity

§ No mobile pet grooming in Mauritius

Power of Suppliers

§ Higher number of suppliers

§ Similar products are available

§ E-commerce platforms provides variety of tools and equipment

Threat of Substitutes

§ Online available free platforms

§ Freelance pet care business

§ Veterinary shops

Competition in the industry

§ Pet industry is growing

§ People are fond of conventional pet shops

§ Well-known retailers

7.0 REFERENCES

Anon., 2019. Statitics Mauritius. [Online] Available at: ttp://statsmauritius.govmu.org/English/Publications/Pages/Prod_Comp_Yr08-18.aspx[Accessed 19 March 2020].

Bheenick, S., 2018. Mauritius – Protecting Intellectual Property. [Online]
Available at: https://www.privacyshield.gov/article?id=Mauritius-Protecting-Intellectual-Property[Accessed 19 March 2020].

CEIC, 2020. Economic Indicators Mauritius. [Online] Available at: https://www.ceicdata.com/en/country/mauritius[Accessed 9 March 2020].

Climate Change, M. o. E., 2017. Environmental regulations under EPA. [Online]
Available at: http://environment.govmu.org/English/legislations/Pages/Environmental-Regulations-and-Standards-under-EPA.aspx[Accessed 9 March 2020].

Economics, T., 2019. Mauritius Business Confidence. [Online] Available at: https://tradingeconomics.com/mauritius/business-confidence[Accessed 10 March 2020].

Economics, T., 2019. Mauritius Labour Cost. [Online] Available at: https://tradingeconomics.com/mauritius/labour-costs[Accessed 10 March 2020].

Economics, T., 2020. Mauritius Personal Income Tax. [Online] Available at: ttps://tradingeconomics.com/mauritius/personal-income-tax-rate
[Accessed 10 March 2020].

Environement, M. o., 2019. Environmental Law and Prosecution Division. [Online]
Available at: http://environment.govmu.org/English/Department%20of%20Environment/Pages/Environmental-Law-and-Prosecution.aspx[Accessed 19 March 2020].

FactBook, C. W., 2020. Mauritius Economy 2020. [Online] Available at: https://theodora.com/wfbcurrent/mauritius/index.html[Accessed 9 March 2020].

Forbes, 2019. Americans Spending Billions On Pet Travel And Boarding. [Online]
Available at: https://www.forbes.com/sites/michaelgoldstein/2019/02/22/americans-spending-billions-on-pet-travel-and-boarding/#6567b08724f7[Accessed 19 March 2020].

Freedom, I. o. E., 2019. Mauritius. [Online] Available at: https://www.heritage.org/index/country/mauritius[Accessed 10 March 2020].

Index, T., 2018. Mauritius Report. [Online] Available at: https://www.bti-project.org/en/reports/country-reports/detail/itc/mus/itr/esa/[Accessed 10 March 2020].

Institute, O. D., 2019. Mauritius Economic Conditions. INTERNATIONAL, E., OCTOBER 2016. Because they’re Worth It: Pet Care Global Overview, s.l.: s.n.

Markets, R. a., 2019 – 2025. MICE Tourism Market.

Ministry of Technology, C. a. I., 2019. Digital Mauritius 2030. [Online] Available at: http://mitci.govmu.org/English/Documents/2018/Launching%20Digital%20Transformation%20Strategy%20191218/DM%202030%2017%20December%202018%20at%2012.30hrs.pdf
[Accessed 10 March 2020].

Trade, D. f. I., 2015. Overseas Business Risk- Mauritius. [Online] Available at: https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/818828/Overseas_Business_Risk_-_Mauritius.doc[Accessed 9 March 2020].

UNESCO, 2016. countryeconomy. [Online] Available at: ttps://countryeconomy.com/demography/literacy-rate/mauritius[Accessed 19 March 2020].

Yuen, F. Y. S., 2019. Workers’ Right Act 2019. [Online] Available at: https://www.dtos-mu.com/mauritius-employment-law-update/[Accessed 19 March 2020].

COST OF CAPITAL – VOSSLOH

Marketing Strategy, Case Study Analysis of Gillette

Case Study Analysis, Competitors Analysis, Gillette, Industry Analysis, Marketing Strategy

Pages:11

Executive Summary

Gillette, a brand name that is known for top-notch marketing strategies based on product development and innovation thrives in a highly competitive market for razors and blades. Throughout the years the company gained its competitive edge by introducing new shaving technology in an industry where new entrants are less and intense rivalry against competitors is common. However, analysts believe that true high-tech innovation and rapid development by Gillette has been left behind decades ago as the company has not embraced new technology in over a decade especially when it comes to meaningful product innovation.

One of the major marketing strategies of the company includes focusing on sports as sports resonate well with the consumer niche for Gillette around the world. This is because, in virtually every market, sports sponsorship and marketing is considered as the best way to approach the customers. The current strategy of the company is centered upon product differentiation and the acquisition of market share. This means that instead of focusing on current high-tech innovation, Gillette focuses more on acquiring and diversifying existing product lines.

For succeeding in the future, Gillette needs to innovatively out-market the competition by creating such products that have innovations that are not considered trivial by the consumers. This is because product innovation for the wet-shaving market has long been underwhelmed and the introduction of five-blade Fusion is nothing but trivial when it comes to comparison with its competitors.

Situational Analysis- Analysis of Macro Environment

The external environment for Gillette consists of forces such as legal, technological, economic, political and social influences which can impact organizational activity. The PESTLE analysis for Gillette highlights that economic, socio-cultural and technological factors mainly impact the organizational performance and the presence of its products in the market (Hooley, 2017). The impact of these forces has been discussed in the table below using PESTLE analysis:

Table 1. PESTLE Analysis

	Macro-Level Factors	Importance of Key Factors to the Company
Political	n/a	n/a
Economic	Saturated U.S market and fluctuation in the market prone to innovative products	Gillette faces the dilemma of saturation within the razor blade industry as there are many brands competing to be the best product for the customers. There is a need for innovative shaving technology to acquire larger share in global shaving market and for capturing the attention of consumers. Consumers have become highly sensitive to high price range when it comes to razors having top-notch technology.
Socio-Cultural	Change in cultural trends	Women belonging to European countries are not prone to shaving because of their culture while other women prefer to shave as they adopt more and more Western way of life. For example, some European women prefer to shave because they get influenced by American television and movies which depict women havingsleek legs and underarms. Thus by fostering this kind of adoption of shaving for women, Gillette can easily capitalize on this trend in Europe. In fact, if women in Europe are influenced further through marketing campaigns to embrace shaving their hair at the same pace as women in America, then the blade sales for Gillette are bound to enhance. Internationally, about fifteen percent of men do not shave because of issues with discomfort they face while shaving as they have sensitive skin; seven percent of men avoid shaving because of religious as well as cultural reasons while three percent of men simply do not care about shaving.
Technological	Top-Notch Technological Innovation in Razors	Gillette’s products dominate the wet-shaving industry around the globe, however, analysts believe that its historical innovation has come to an end as there has not been a breakthrough innovation of its own which entices the customers.
Legal	n/a	n/a
Environmental	n/a	n/a

* n/a: Not applicable – Not indicated in the case study

Situation Analysis- Analysis of Industry Competition and Competitors

The degree of market attractiveness, as well as industry competitive intensity, is going to be assessed using the Five Forces framework by Porter. Gillette has been in the industry for a long period of time and the industry is attractive now because there are new entrant barriers due to saturation within the market channelized by aggressive competition. However, there is a high intensity of rivalry as this leads to price wars, fluctuations due to innovative products and makes it more expensive for a company to maintain a large market share.

There is a high cost of entry due to high market saturation which means that new entrants will have to face high competition and low sales which can eventually lead to bankruptcy. The mature nature of Gillette in the market makes it difficult for new entrants. Gillette has a market share of 12.8 billion dollars in the global market which means that it does not have any threat from new entrants however it does face high intensity from rivalry as many companies are now capturing more and more consumers by investing in innovative shaving technology.

Table 2. Porter’s Five Forces on Gillette

Force	Related Factors	Assessment
Intensity of Rivalry	· High Number of Competitors · High Product Innovation	High
Threat of New Entrants	· Patents limit new entrants · High Product Differentiation · High Concentration Ratio · High Cost of Entry	Low
Threat of Substitute	· Number of substitute products in the market	High
Bargaining Power of Customers	· Availability of existing substitute products · Substitute product is inferior · Large number of customers · Customer Loyalty	Moderate
Bargaining Power of Suppliers	n/a	n/a

* n/a: No applicable – Not indicated in the case study

Competitor Analysis

Gillette’s biggest competitor is Schick because of its progressive geometry technology. Schick acquired market share through a four-bladed razor back in 2003. Gillette and Schick have been competing with each other for decades and in 2003, came face to face in a lawsuit for misleading customers.

Table 3. Competitor Analysis

Competitor	Overview	Competitive Edge	Product Range	Innovative Products
Schick	Top-notch brand of safety razors found in 1926. Schick has a total of 10% market share in U.S.	Stainless Steel Blade	· Diverse range · Introduced world’s first four blade razor	Quattro
Bic	Based in France and known for making consumer products such as razors, pens and lighters since 1945	Pricing	n/a	n/a
Dollar Shave Club	Founded in 2011, shook up the razor market by taking up 8 percent of U.S market share	n/a	n/a	n/a

* n/a: Not applicable – Not indicated in the case study

Situation Analysis- Analysis of Customers

Gillette’s primary customer segment includes male athletes as it markets most of its products at sports events such as NFL New England Patriots, World Cup, Soccer events, MLB, NASCAR, and Olympics. Gillette also targets women as it has the advanced Venus best for women that require good design.

Table 4. Customer Segmentation by Demographic

Segments	Segment Profile/Characteristics	Segment Preferences
Primary Target:	Fans of Sports, Middle Income, Athletes belonging to Latin American and European countries	Razors having advanced innovation such as foil razors that have perforated metal which cover the blade and rotary razors that have spinning blades.
Secondary Target:	Women	Razor that has built in gel and has advanced design that requires minimum effort. Portable razor for carrying in bag and for emergency situations with built-in spray as well as soap.
Possibilities	Female Athletes and European Women Men with Sensitive Skin	Razor should be recommended and tested by dermatologist for sensitive skin. The razor must have moisturizing strip which cuts at the back so that irritation can be avoided. Razor must have blades that aid in shaving backwards and forwards so that the rick of cutting can be reduced.
Avoid Target	n/a	n/a

Internal Environment & SWOT Analysis

Porter’s Generic Strategic Type

Gillette uses a differentiation strategy by making different product lines more attractive to customers in comparison with competitors. For example, Gillette appealed to its female customers by winning 2010 Most Profitable Solution to a Business Problem award for the Venus razor for women (Hartline, 2013). The razor was catered to the needs of the women in such a way that it specifically differed in its offering from the ones before it due to its design. The previously existing razors were just prototypes of men’s razors colored in pink while the Venus razor enhances the shaving experience and expanded the market share for Gillette. This demonstrates that Gillette used a successful differentiation strategy by investing in product research, innovation, and development and by delivering a high-quality product for women.

Furthermore, Gillette used effective sales and marketing campaigns to implement the differentiation strategy. For example, in 2012, Gillette launched the Masters of Style campaign for its Fusion ProGlideStyler which starred three celebrities known for their facial hair. The Fusion ProGlide product was designed specifically to cater to complex facial hair styling which involved scissors, trimmers, and razors. P&G then used this product differentiation strategy to market other products such as ProGlide Clear Shave Gel in all in one styling toolkit.

SWOT Analysis

Gillette needs to invest more in research and development specifically for new shaving technologies. There is also a lack of product demand forecasting which leads to missed opportunities specifically in cultural trends. There is a need for innovative shaving technology to acquire a larger share in the global shaving market and for capturing the attention of consumers.

Table 5. SWOT Analysis

Strengths

· Large Market Share

· Brand Name

· Customer Loyalty

· Acquisition Strategy

Weaknesses

· Lack of Technological Innovation

· Lack of Product Demand Forecasting

· Non-adequate R&D

Opportunities

· Investment in adjacent product segments

· Capitalize on new shaving trends in Europe

Threats

· Intense Rivalry with competitors

· Bargaining Power of Customers

· Lower demand

Evaluation of Current Strategies and Problem Statement

The current strategy of the company is centered upon product differentiation and acquisition of market share. This means that instead of focusing on current high-tech innovation, Gillette focuses more on acquiring and diversifying existing product lines. The company adopted the same strategy back in 1962 when the stainless steel blade was launched by Schick, the main competitor of Gillette.

Gillette acquired much of the existing business of its competition and continued to diversify its product line while obtaining mixed success. Gillette thus became a victim to its own strategy of cannibalizing their products that were successful. The launch of Sensor Razor enhanced sales globally, heating up the internal competition. Gillette continued to venture into different product lines by continuously attacking its own products.

From Atra to Trac II, from Sensor to Fusion, Gillette kept on changing and attacking its products. This kind of marketing strategy did revolutionize the shaving market, however, it made Gillette a victim of its own success. This is because while the new product lines by the company enhanced the sales, they often took away the customers as well as sales of the previous products.

For example, Sensor, launched by Gillette in 1990 enhanced sales globally until 1993, when it was overthrown by Sensor Excel. Another competing product produced by the company includes Sensor for Women launched in 1992 and Sensor Excel for Women launched in 1996. The soaring sales of the Sensor line led to the decline of Trac II and Atra which belonged to the twin-blade shaving line. It should be noted that with the introduction of every new product line, consumers were more eager to get their hands on the new products and it might be the case that they are not pleased with the pricing of the existing product or some feature because of which they purchased the new products.

Problem Statement

Alternative Strategies

Product Innovation through Research and Development

Gillette must invest in Research and Development as it plans on global expansion. Extensive R&D will enable the company to understand the influence of culture, religion, ethnicity, gender, etc. in shaving behavior. Internationally, about fifteen percent of men do not shave because of issues with the discomfort they face while shaving as they have sensitive skin; seven percent of men avoid shaving because of religious as well as cultural reasons while three percent of men simply do not care about shaving.

Thus by being aware of cultural as well as behavioral traits of the consumers the company can easily target, develop and innovate its products and in turn satisfy the customers. Similarly, when the patterns in women are seen, it can be observed that many women opt to not shave for cultural or religious reasons meanwhile some cultures are opting to turn towards shaving such as younger European women.

High-Tech Razors

Electric shavers happen to be around since the late 1930s. However, recently there has been advanced innovation such as foil razors that have perforated metal which covers the blade and rotary razors that have spinning blades. Gillette already incorporates the five-blade razors in its product line, however, its competitors have adopted technologies that are by a far top-notch when it comes to innovative sensor monitors or trimming blades that provide personalized shaving modes (Sands, 2019). Gillette lags behind its competitors when it comes to innovation specifically Sonic technology as well as AutoSensing motors. This kind of technology enables those with sensitive skin to shave dense surfaces on the face efficiently as it prioritizes gentleness over toughness with just a click.

Focus on Cross Promotion

Gillette happens to be heavily focused on men when it comes to promotions. It would be better if they change their market niche and advertise innovative products for the female sports team instead. Effective advertising tends to tap into the emotions of the viewers which means that it can compel them to take upon themselves the act of shaving. In the case of women’s shaving and razor industry, ad campaigns and products are tapped into emotions such as love, fear as well as shame to create demand for the product. The global women’s razor market from 2018 to 2024 is expected to grow at a CAGR of 4%. Moreover, the concept of gender neutrality in shaving products is a concept that should be promoted keeping in view the market trends. The majority of brands are jumping onto the diversity as well as inclusivity bandwagon and this is something Gillette should hop into as well.

Table 6. Evaluation and Justification of Strategies

Objectives	Alternative Strategy	Justification
Gillette needs to innovatively out-market the competition	Gillette must invest in Research and Development as it plans on global expansion.	By focusing more on Research and Development, Gillette can easily cater to the needs of those customers who are unable to shave because of sensitive skin. Product development and innovation can only be done through extensive research on consumer needs.
Create such innovations that are not considered trivial by the consumers	Focus should be made on technological innovation for products.	Today, razors can be found for even sensitive skin type for men and can be used for shaving or trimming goatee, maintaining stubble, growing hair fast and for trimming beards. Gillette, however, lags behind its competitors when it comes to innovation specifically Sonic technology as well as AutoSensing motors. It is imperative that Gillette create such technological innovation in its products that they can surpass the expectations of the customers and compete well with competitors.
Acquire more customers	Gillette must be focused on cross promotions	The concept of gender neutrality in shaving products is a concept that should be promoted keeping in view the market trends which is why women in sports should be targeted in marketing campaign.

References

Hartline, M. D. (2013). Case16: Gillette: Why Innovation May Not Be Enough.

Hooley, G. (2017). Marketing Strategy and Competitive Positioning. Pearson; 6 edition.

Sands, R. (2019). The Best Electric Razors of 2019. Retrieved from Forbes: https://www.forbes.com/sites/rogersands/2019/08/03/the-best-electric-razors-of-2019/#737b210011c4

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