Superdrug is planning to launch new product “Reek body oil” for customers with sensitive skin. The company’s brand is getting a national recognition in the UK and the firm’s financial performance has been outstanding. As the head of marketing I have been tasked by the board to plan and implement strategies that will successfully launch the new product into the market.
The company also wants to grow in its geographical area by introducing the new product and grow it.
Introduction of this product will increase the market share of Superdrug and also influence the company’s financial performance.
This report will look at Superdrug’s structure and also suggest the suitable strategy to introduce the new product and also a suitable dissemination process to gain commitment of the stakeholders.
Superdrug became a part of AS Watson Family in October 2002. Superdrug was founded in 1964 by Goldstein family who, after establishing the business from just one store to several stores then sold the Superdrug business in 1987 to Kingfisher. In 1988 the Tip Top chain was acquired by Kingfisher in order to expand the company further. Next year in 1989, the companies’ number of stores increased to 650 by the acquisition of Medicare chain.