product extension for 3m - post it

Product Extension for ‘s : 

Product Extension for ‘s By YW Leow, MBA 3C There is a note for it!

Current Products : 

Current Products + etc…….

SWOT Analysis : 

SWOT Analysis Strengths Weaknesses Opportunities Threats Quick retaliation from rivals Uncertainty in market: Customers may reject the new product Widen product range thru high tech and innovation Capture new segments and raise revenue Free-wheeling management style Over freedom in spurring creativity that incur excess cost and resources Highly innovative culture Broad business portfolio Lack of portfolio coherency Convert Brand reputation Convert

Competitor value positioning : 

Competitor value positioning High Stickiness High Product Variety Low Low

Existing Marketing Strategy : 

Pioneering strategy: consistently new product under the same range Word of Mouth: high quality product gives higher perceived benefits Extensive distribution network: via large retailers Existing Marketing Strategy

Market Segmentation : 

Market Segmentation

Target Market Segment : 

Total Office Personal School Target Market Segment Art Note Meeting charts Index Note Note Desktop organiser Gel pen, highlighters Shopping genius Index Page Index Note Products

Customer Profiles : 

Customer Profiles Behavioural Variables Benefits Usage Purchase Variables

Slide 9: 

Benefits Office: Handy on desk Easily jot down important task Personal: ‘Stickable’ every where, such as fridge, on the dining table, diary Everyone in the family can use it School: Reminder on assignment due date Feedback note on draft work Art: Fritz & Stephen ‘Post It experiment’ Colour notes make wonderful master piece

Slide 10: 

Usage Personal: Switcher in brand Low volume users Office: Repeat users Usage volume depends on scale of office School: Switcher in brand Low usage volume Art: 1st time or repeat users Large scale of usage

Slide 11: 

Purchase Occasion Personal: Daily use Occasional usage: only when ran out of notes Office: Frequent usage: daily use Frequent purchase routine: weekly School: Daily use Restock once every month Art: Use only when required by project or triggered by idea Purchase volume depending on project scale

Market Research Techniques : 

Market Research Techniques

Marketing Research Method 1: : 

Marketing Research Method 1: Interview

What is your major problem when using the Post It note? : 

What is your major problem when using the Post It note? 1. My notes are always missing accidentally 2. It is not handy anymore when I forgot to bring my pen along with me 3. 3M Post It notes are a little bit more expensive than other brands (20 interviewees were selected: 1-answer of 50% of the interviewees, 2- answer of 30% of the interviewees 3- answer of 20% of the interviewees)

Marketing Research Method 2: : 

Marketing Research Method 2: Questionnaire

Are you looking forward for a new product from Post It? : 

Are you looking forward for a new product from Post It? 3 questions were circulated among 20 respondents.

Do you find a new Post It note with back up copy useful? : 

Do you find a new Post It note with back up copy useful? 3 questions were circulated among 20 respondents.

Do you prefer to get a Post It product by e-commerce if it is cheaper and secured? : 

Do you prefer to get a Post It product by e-commerce if it is cheaper and secured? 3 questions were circulated among 20 respondents.

Marketing Research Method 3: : 

Marketing Research Method 3: Camera Journal

Use in office : 

Use in office

Use in school : 

Use in school

Personal Use : 

Personal Use

Use in Art : 

Use in Art

Conclusion? : 

Conclusion? A huge market potential in extending the Post It note range and new product should address the problems facing by existing users.