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Philip Morris International : Report

   

Added on  2020-07-22

7 Pages1805 Words39 Views
PRODUCT RESEARCH

Table of ContentsINTRODUCTION...........................................................................................................................11. Product and service description .............................................................................................12. Outlining market analysis.......................................................................................................13. Segmentation, Targetting and Positioning..............................................................................3Unique Selling Proposition.........................................................................................................34. Recommended Marketing Mix...............................................................................................3CONCLUSION................................................................................................................................4REFERENCES ...............................................................................................................................5

INTRODUCTIONMarket analysis is can be simply defined as a qualitative and quantitative assessment of amarket (van Wijngaarden, Scholten and van Wijk, 2012). It focusses into the properties ofmarketplace both in value as well as in volume, the different segments of consumers, theirpurchasing patterns, the rivalry and the economical environment regarding barriers to entry andregulations. The current report is completely based on Philip Morris International where in itsproduct named as IQOS is being discussed. 1. Product and service description IQOS – Heat Not Burn Tobacco Products. It is also known as heated tobacco products. Thebeauty of this commodity is that tobacco is heated here to a very low temperature in comparisonto a conventional cigarette (Tijssen, 2012). This in turn gives rise to smoke that comprises ofnicotine and various other chemicals. Such type of heated tobacco goods were firstly introducedin the year of 1998 by R. J. Reynolds Premier and were popular as smokeless cigarettes. 2. Outlining market analysisThe launching of IQOS ("I quit ordinary smoking") was declared legally on 26 June2014. This product was marketed by Philip Morris International Inc. under the branding ofParliament and Marlboro. This was at the start launched in the year 2014 in Japan and Italy,after that it is being step by step rolled out to different other nations (Laudon and Traver, 2013).The IQOS smoking device comprises of a charger close to the size of a mobile phone as well as aholder whose facet is similar to a pen. It is to be noted that IQOS is going to be introduced inUnited Kingdom in order to seek attention of large number of consumers. This section consist ofvarious topics which is described below :Key market trendsThis has been noticed that Philip Morris' heat – not – burn – tobacco merchandise , iQOShas gained phenomenal growth in the marketing location after its launch. It has been in differentkey towns along with 31 markets internationally. It is having four million adult users. Themarket share has seen reaching upwards nearly 13. 3 percent in the moth of October 2017. Asper the current information which is provided by venture, the sharing of market has alreadyenhanced to 4. 5 % which is fantastic or marvellous achievement considering this merchandisewas presented in the second quarter. Large number of people are shifted away from conventional1

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