Marketing Plan – Wrigley’s Airwaves Essay Example

gum begins to lift, I would then market it to a wider audience. One advantage of introducing this product to Singapore is the lack of competitors in our niche. Currently, sugar-free and tasteless gum is available on prescription in Singapore. However, Wrigley's airwaves gum, which relieves nasal congestion and sinus issues, is not available on prescription here. The product would be offered in various flavors such as Cherry, Menthol Mint, Menthol and Eucalyptus, Lemon Ice, Casis and Vitamin C, Spicy Cocktail and Honey and Lemon, to make it more appealing to consumers.

Our monopoly of the chewing gum market in Singapore heavily influences the success of Wrigley's Airwaves. Our Market Entry Plan involves introducing the product through prescription sales, which will generate interest if and when the chewing gum ban is lifted. The immediate goal is to make it the preferred choice among chemists for bad breath/cold or flu relief throughout Singapore. In the long term, we aim to position it as a sweet and eventually become a mainstream product, subject to changes in laws. We target individuals aged 16-45.

The desired age group is probably worried about preserving their breath's freshness. Nonetheless, the commodity should be reasonably priced and readily available to all customers, irrespective of their gender or age. Manufacturing it locally would eradicate import expenses while creating new job opportunities through the establishment of fresh factories. Singapore has a stable political climate due to its parliamentary system and may soon lift its ban on chewing gum. Moreover, as an international trading port within the macro environment, Singapore maintains favorable relationships with other countries.

In 2002, the CIA World Factbook reported that Singapore had a stable

free market economy with a gross domestic product (G.D.P) of approximately 61.3 billion and a per capita income of roughly 14,000. As such, it is considered one of the wealthiest nations globally.

Having established robust economic ties and transformed into a developed nation, Singapore is now exporting its products worldwide. Its population has also witnessed a surge in affluence, as the average income of a Singaporean today stands at six times that of 1965.

Technological advancement and increased productivity have led to reduced working hours and increased leisure time (K.Frith, Advertising in Asia, 1996). The Singaporean society has been influenced by various cultures, including the Japanese, English, and American cultures. This cultural influence could be advantageous for promoting chewing gum as the American culture is often associated with it. Singapore is highly advanced in technology. Given the size of the product and company, national marketing would be ideal.

Despite being a small country in terms of land area and having a population of only 4,608,595 (according to the July 2003est), Singapore experienced a decline in its growth rate. In fact, in 1993, the population was only 2,873,800 and the natural growth rate has been gradually decreasing since then. This information was obtained from the CIA - World Factbook.

According to Frith.K in Advertising in Asia, the percentage of advertising decreased from 4% in 1957 to 2.0% in 1992. Despite Singapore's developed and affluent status, the location of clients is not a concern, as marketing efforts can be focused on media and internet channels.

To effectively market this product, targeting the consumer's vanity is important. Though it may initially be sold as a prescription drug, the ultimate purpose

of chewing gum is to provide fresh breath and boost self-confidence.

The fresher breath provided by my product can boost confidence. Additionally, it can also aid in relieving nasal congestion, which is a desired feature for consumers seeking cold or flu relief. As the median age of the Singaporean population is 34.5 years, our target audience includes individuals between 16 and 45 years old, a stage in which appearance holds significant importance and illnesses such as halitosis can be particularly embarrassing. Singapore's largest workforce sector consists of those in the business industry, making up approximately 35% of the workforce.

Airwaves is marketed as a stress reliever for highly stressful jobs. The population's literacy rate is 93.2%, indicating a good understanding of product concepts and marketing. Singaporeans value time and consider it their most scarce resource; they also prioritize physical and financial security. As a result, Airwaves' relatively low price and convenient nature will be advantageous. As the product enters an untapped market, developing a relationship with customers that inspires loyalty is possible once competitors enter the market. In today's society, appearances and first impressions are becoming increasingly important, especially in Singapore, a highly developed country.

People all around the world face the issue of bad breathing and cold and flu symptoms, including those in Singapore. Therefore, this product can help solve these concerns. Additionally, chewing gum has been known to alleviate stress and with a wide variety of flavors available, the product becomes an interesting option for consumers. For market positioning, it's necessary to price the product higher in Singapore than in the UK since it would require a prescription for purchase. Moreover, the small

population of Singapore would limit sales figures. The ideal marketing price for the product would be around the equivalent of �1.

In Singapore, people have to pay for prescriptions and a pack of 50 costs more than the UK price of 40p. However, considering the economic stature of the country and the uniqueness of the product, I believe it would be successful. To promote it, I would seek mass media coverage as Singapore is a highly developed country. I plan to establish factories to produce the product and subsequently distribute it to various medical facilities and pharmacies throughout the country. To handle this task, I would sub-contract a delivery service.