Report Writing on : Vistakon
The main aim of the essay is to present a marketing plan for Vistakon producing a new eye liquid named Brightny Vision which has planned this to replace lens and spectacles in the current market. The report has been continued in several parts. First part of it dictates the current market condition in terms of demand for lenses, spectacles or other related eye liquid from the customers’ side. In contrast, a brief description has been presented with respect to the market. Moreover, a table is also included as a part of the report which will describe the need for segment and consequent benefits for those segments. The table will highlight the targeted segment and the needs of the customers under that segment. Next part of the report talks about the new product which has been launched by Vistakon including all necessary aspects and features of the product. Furthermore, it also has been presented in terms of its competitive evaluation to assess the competitive ability in the current market. Afterward, various channels and logistics for the distribution of the product have been discussed and evaluated to bring it forward in the market. A table containing sample of all the competitive products of Brightny Vision eye-liquid and their pricing have been delineated. The end part of the report demonstrates SWOT analysis of Vistakon. At the end, summary has been made out of the entire discussion.
Current marketing situation:
Here in this paper, Vistakon a U.S based company has been taken for its market plan which is regarded as a market leader in the industry of disposable contact lenses. The company is known for its firm brand equity and multiple distribution channels. The current marketing situation of Vistakon can be revealed on the basis of a report stating that Vistakon has produced disposable lens at the time when the demand was not much from customers’ end and the market for it was dilapidating and on the other hand market was planning for replacements. In addition, survey states that there was a decline in the sales of spectacles in 2009, but the sales of reading glasses increased from the people having eyestrain by the use of computers (Global data, 20110.
The market has focused its main target on old age group who generally use spectacles and on the age group of 18-34 who are fond of using contact lenses instead of eye glasses. Current situation demonstrates that there are four major manufacturers are competing with one another and are accounting more than a share of 92% of contact lenses. Among these, Vistakon has the largest share of contact lenses which is more than around 48%. On the other front, spectacles’ market is more uneven; even then three major competitors Essilor, Luxottica and Carl Zeiss amount to more than 45% share of the spectacles market in U.S. Moreover, the data launched by Western region has revealed that majority of customers using spectacles and contact lens is quite vast. It also demonstrated that contact lenses are used more than 4.2 day a week by the customers (Euromonitor international, 2010).
Before starting any sales & marketing activities, the company should establish a confirmed knowledge and understanding of the market by framing a complete market description. For that, an estimated number of potential customers should be known for the new product Brightny Vision eye-liquid to be launched in the market. Moreover, the pricing factor is also counted and included in the market description in order to know the limit the people are ready to pay for the product. Afterward, knowledge of competitors already available and producing the same product is also necessary to have. In this regard, the manufacturer should make an assessment of the quality and price exercised by the competitors accordingly.
Vistakon should target the part-time users of the contact lenses and full time user of spectacles in order to meet their customers’ needs and to provide them with the comfort and convenience. Finally, Vistakon should implement penetration pricing for this Brightny Vision eye-liquid. A table can be drawn including targeted segment, need of customers and their relative benefits. Segmentation is done based on demographics, psychographics, consumer behaviors and geographical conditions. The target market consists of all the customers who are ready to pay for the product for any considerable reason. Their choice and preference of product can differ according to the aspects such as quality, price and effectiveness of the product.
|Target segment||Customers’ needs||Corresponding benefits|
|Part-time users of disposable lenses||Customers want a product that remains for long and have quick effect for eye-vision||The product will lessen eye-redness|
|People earning average income and are price sensitive||Contact lenses an spectacles cost them very high, in this case they need a product of average price||Brightny Vision eye-liquid will help in itching problem in eyes and will be easy to use|
|Who have inconvenience in using lenses and spectacles||Customers are not comfortable with wearing lenses and spectacles for long. This makes them highly inconvenience, so they want a product which would be very convenient in use.|
Moreover, the main use of the eye-liquid will be with respect to the correctness of eye-visionPeople of age group above 30 using spectaclesThe competition has emerged leading the youths focusing upon the work with the use of technologies such as computers, screens, etc. In this regard, they need a product which is not disposable and can be afforded easily.The new product launched by Vistakon will be available in simple eye-drop bottles in reasonable price. Finally, it will make one’s eye healthy.
The product which Vistakon is planning to launch is Brightny Vision eye-liquid. It is an eye-drop which can be used for dry eyes, redness & itching in the eyes and mainly for correction of eye vision. It would be available in liquid and gel forms and can be used for all types of eyes. Moreover, it has an ability to be used in combination with lenses. Additionally, its effectiveness lasts for longer in comparison to other brands available in the market. It is used twice a day, once in the morning and once at the night.
Ease of its use: Brightny Vision eye-liquid comes in the shape of regular eyedropper, so it is used like any other normal eye liquids. The major difference the product has with other brands is that it does not burn the eyes after using it.
Ingredients: Both active and inactive ingredients have been used to make this eye-liquid to make it effective among the consumers. First, active ingredients of the product include polyethylene Glycol and Propylene Glycol with the amount of about 0.4% and 0.3% respectively. Then, inactive ingredients of the product comprises Boric acid, Potassium Chloride, Sodium Chloride, Calcium Chloride, Magnesium Chloride, Zinc Chloride, Hydroxypropyl and purified water.
Price or Availability: Vistakon would make it available at its every store where the customers used to get contact lenses and spectacles easily. In addition, it would also be made available online so that customers could get an idea of its full features before purchasing it. Moreover, the pack of bottles will be available in different sizes that will range from 5ml to 30 ml. The pricing fixed by Vistakon for Brightny Vision is around $10 for the bottle of .6 ounce to $12 for bottle of one ounce. This is recommended to the persons want to have healthy eyes.
A competitive review provides a company the idea of its competitors, technique and innovations they are using to attract the potential customers. In addition, it also helps estimating the company’s current status on how is it succeeding in the market and what are the areas it has to improve. Talking about the competition level for Vistakon is very high with respect to the contact lenses instead of eyeglasses. The competitors are Ciba and Bausch & Lomb, both of these have a share of around 23% and 21% respectively. In addition, both these competitors also offer cleaning solutions to the customers for their conventional lenses at a very high margin. These competitors are always ready to take the new opportunities and to launch a new product in the market in order to seek the attention of customers. From the perspective of spectacles’ competitors, Essilor and Carl Zeiss are there in the market with their share (docstoc, 2011).
In this case, Vistakon needs to forecast two key scenarios of competitors that are defensive and offensive actions of competitors against the launch of Brightny Vision eye-liquid. Therefore, the understanding of defensive scenario helps predicting the price reduction which is vital and the initiation of marketing campaigns by the competitors. On the other hand, offensive scenario helps anticipating that competitors will be ready to produce and launch a new product. In this regard, Vistakon can improve upon the ingredients it is going to use for eye-liquid product, which is the main concern of every customer in terms of correcting their eye vision without the discomfort of lenses and spectacles (Balaji eknowledge, 2011).
Vistakon is a well-known name in the market which is a division of Johnson & Johnson Vision care. It has a big distribution centre at Jacksonville in U.S. According to an analysis, its current size is approximately 661, 168 square-foot. In addition, it has been stated by the manufacturer that they have planned to expand the size of their Southside centre to attain more capability. They have planned it to make 765,401 square-foot building by 2014’s first quarter (Mueller, 2012).
|Sample of competitive products||Pricing|
|$36 (CIBA Vision, 2012)|
|$10.55 (Bausch Lomb, 2012)|
SWOT analysis of Vistakon will help out determining the key strengths of the company which can be reinforced. Afterward, weaknesses are highlighted so that they can be eliminated by working upon. Next, it depicts the threats and opportunities of Vistakon where threats can be converted in opportunities for the company (Business Linker, 2011).
On the basis of overall discussion made about Vistakon marketing plan, it can be said that the company has already as good name in the market which it can use to launch a new product. Vistakon is a division of Johnson & Johnson vision care inc. which is already has a strong reputation in the market. It manufactures contact lenses and distributes them to the customers through its Jacksonville distribution centre. Vistakon’s main focus for its product’s distribution is on part time users of the disposable contact lenses and the people who are earning high and an active and good lifestyle. Therefore, it has segmented its target market on the basis of their age group, and use of eye vision products. The main target market of Vistakon for its new product Brightny Vision eye-liquid are the part time users and the people of age group of above 35 who are nor comfortable with the regular lenses and eyeglasses. In addition, Vistakon’s major competitors are Ciba, B&L, Essiel and Carl that are manufacturing spectacles and lenses and sharing to the market. The product’s review also has been presented in the report containing its ease of use, active & inactive ingredients and other features. A SWOT analysis done for Vistakon has reflected the areas of improvement and key strengths.
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