Background
The Axe brand offers a range of personal grooming products specifically designed for male consumers. In recent years, women have increasingly incorporated aftershave products into their grooming routines. They are seen as a way of improving confidence and appearance, a significant factor in the current market.
Women prefer wet shaving over waxing, which is expected to drive the growth of new aftershave products. Women are consistently encouraged to use aftershave products after shaving because they reduce irritation. The numerous benefits that aftershave products offer have contributed to the growth of the aftershave care market. It is a positive indicator for Axe because the new product is expected to be well-received.
The proposition is to introduce a new Axe aftershave product for women. The personal care market in the United Kingdom (UK) has grown exponentially, with an increasing focus on personal grooming (Statista, 2021). Data shows that around 8.2 million people in the UK used aftershave products in 2020 (Statista, 2021). This suggests that aftershave products are popular in the UK and represent a niche market from which the company can benefit by introducing a new product.
There is a growing interest in natural products within the UK. Women prefer personal care products based on natural ingredients (Tengli & Srinivasan, 2022). Natural ingredients are believed to offer additional benefits to consumers.
The new aftershave product will be formulated with natural ingredients, such as heated charcoal, peppermint oil, and eucalyptus oil. By ensuring the product is 100% natural, there is a higher chance of it becoming the best-selling product in terms of sales volumes. The natural aspect will be emphasized during marketing and advertising to ensure potential customers associate it with the brand.
Introducing the new aftershave product aims to enter the women’s aftershave market. Unilever, which is Axe’s parent company, can leverage its position in the men’s aftershave market to become a leader in the women’s aftershave market. The introduction of the new product will align with Axe’s business strategy. The company aims to offer a diverse product range at competitive pricing.
The new aftershave product will be packaged in a container that aligns with the company’s sustainability goals. The packaging will be made from 100% recyclable material to protect the environment. Customers focus on brands that provide exciting new products that adhere to sustainable goals and objectives (Tengli & Srinivasan, 2022). It is expected to enhance the position of the new product in the market.
The new aftershave product will start a range of products focused on women that are 100% natural and use 100% recyclable materials for packaging. This is a significant change for the brand and represents the vision and mission of the company, which encourages taking advantage of new and existing opportunities to enhance profitability. In the past, Unilever introduced a new product range, which improved the chances of success for the new aftershave product. Introducing a new aftershave product specifically designed for women will create new opportunities for the Axe brand.
Opportunity
Creating a new product in the women’s aftershave market will likely bring new opportunities for profitability for Axe. The women’s aftershave market is not heavily saturated, a bonus for Axe. The company has successfully introduced new aftershave products for men, with varying degrees of success. This is a new area that will provide value to the company.
Women consumers are seeking new products made from natural materials that align with sustainability goals. There is an opportunity for Axe to fill this gap by providing a new product that meets the target consumers’ needs. The new product will be launched solely for the United Kingdom market.
Scope
The scope of the new project covers the UK personal care market. The objective is to introduce a new women’s aftershave product. The intended target for the project is projected to be women who need aftershave products.
The reason for targeting women is a change from waxing to shaving. The change warrants the introduction of a new product that addresses women’s needs. Aftershave products help individuals achieve smooth and painless shaves. Introducing products with extra benefits also enhances customers’ ability to develop a preference for the product.
The new aftershave product will benefit users more because of its natural ingredients. To ensure the success of the latest product, a marketing plan will be initiated and implemented. The target is to utilize both traditional and digital channels to increase the brand’s popularity.
The company’s new product will be introduced based on its existing frameworks. Axe is a reputable brand well-known in the UK. Celebrity influencers will facilitate the marketing and advertising of the new product in digital channels. Research indicates that celebrity influencers can enhance brand popularity and sales (Lee & Eastin, 2020).
The new aftershave product is targeted at women because it is an area that the parent company has traditionally overlooked. The new product aims to create a new market niche for the organization, potentially helping to increase profits. Axe can dominate both the men’s and women’s personal care market in the UK. Introducing the new women’s aftershave product will enhance the brand by creating consumer interest. The new project will transform Axe from a company focused on men’s products to one that caters to both men’s and women’s products.
Constraints
One of the project’s constraints is the existing business strategy framework for the Axe brand, which focuses on intelligent and attractive packaging. This will impact the new project because the aim is to provide packaging using 100% recyclable materials. The materials used may not be considered beautiful to some consumers, which may affect the purchase intention.
However, using recyclable materials may appeal to other consumers, attracting higher sales. Axe’s business strategy is also well-suited to male consumers, which may pose a challenge when integrating the new product into the portfolio. This may be offset by creating a plan to ensure the latest product succeeds in its market segment. Natural ingredients and recyclable materials for packaging can be used as the main differentiating aspects for the new products. This will ensure that consumers can distinguish between the existing and new Axe products.
Another constraint is the aspect of competitive pricing, as the ingredients for the latest product are expensive. The new project may fail to become profitable if a competitive price is adopted. Providing a purely natural product will increase prices, resulting in lower sales. However, the UK population has a higher purchasing power, which is expected to grow in the coming years as inflation eases.
Assumptions
The current trend indicates an increasing demand for personal care products in the UK. Women are more interested in aftershave products due to the shift from waxing to shaving. This transformation has introduced a new market segment called women’s aftershave products. The new women’s aftershave product will focus on providing a solution to the UK market.
Another aspect is that men and women are interested in purchasing natural beauty products. This indicates that products based on 100% natural ingredients will have higher sales. The new product will be 100% natural and will be marketed as such to ensure higher sales. The new product is expected to become a top brand in the women’s personal care market by leveraging Unilever’s marketing frameworks.
The purchasing power of UK women consumers is also likely to contribute to the success of the new project. Combining natural ingredients that offer additional consumer benefits will also contribute to the new product’s success in the UK personal care market. The women’s aftershave market is not saturated, indicating the potential for a new product by Axe.
Deliverables
New Aftershave Product: The product will target women consumers who are interested in natural aftershave products. The new product will be based on natural ingredients, which include heated charcoal, eucalyptus oil, and peppermint oil. The product will be packaged using 100% recyclable material. This will ensure that the organization adheres to relevant sustainability goals.
References
Lee, J. A., & Eastin, M. S. (2020). I like what she is # endorsing: The impact of female social media influencers’ perceived sincerity, consumer envy, and product type. Journal of Interactive Advertising, 20(1), 76-91.
Statista Research Department (2021). Aftershave usage by type in the UK 2013-2020. Statista.
Tengli, A., & Srinivasan, S. H. (2022). An exploratory study to identify the gender-based purchase behavior of consumers of natural cosmetics. Cosmetics, 9(5), 101.