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Right a SWOT analysis on Colgate toothpaste with CBD oil infused to lower anxiety.
Below is the Market summary, Direct competition, marketing analysis.
Market Summary – CBD Toothpaste
CBD has becoming significantly more popular to add to products due to the increase of new studies and information that have been released that highlight the benefits of CBD within different products. CBD is found naturally within the cannabis plant and has a number of different benefits when extracted and used within products or ingested by consumers. The benefits of CBD include pain relief, reduced inflammation, reduced anxiety/depression, help with sleep, and even has antibacterial properties. The benefits to CBD are really endless, which is why this ingredient has become so popular over the years. At Colgate, we understand the significance of this ingredient, how important your oral health is which is why we wanted to add it into our innovative formulas. Brushing your teeth our CBD infused toothpaste will help consumers who are struggling with anxiety and depression to reduce these feelings. CBD is also said to help treat sleeping issues, and brushing with our Calming Sensation and Relief toothpaste before bed can allow the consumer for a better night’s sleep. Another benefit of CBD are the antiseptic and antibacterial properties it holds, which destroy and even prevent the growth of bacteria. This is important, as gum disease is a rising issue within America. For people that are suffering from gum disease, this product could be a savior allowing the consumer to receive pain relief and anti-inflammatory benefits from brushing alone.
Direct Competition The surveys highlight that both an individual’s general and consumer personality could be told from how their purchase behaviors are. Ideally, the consumer’s general and consumer properties would indeed be effective to judge their behaviors. In terms of the general properties, depending on the nature and type of a consumer, the purchasing behavior and attributes would be greatly different. Consumers would generally go for the items that they feel are good for them and effectively suits them. In my opinion, the surveys conducted to look for the relationship between the consumer personalities and their purchase behavior is very true.
These studies are accurate in the explanations they provide on how some of the consumer attributes would affect their purchase behaviors. Ideally, different customers who prefer expensive goods and can afford them would prefer them over the cheaper ones. A consumer whose personality ranks high would go for better or high-end products in the market compared to those other consumers whose preferences lie on the cheaper products. This factor makes the online surveys conducted on the relationship of the consumer behavior and their purchase power. Ideally, there is indeed a great relationship between the two.
Marketing Analysis Statistics Colgate Calming Sensation and Relief will target those individuals who deal with anxiety which can be a leading cause of lack of sleep, which will help improve their health and wellbeing. Anxiety issues is the leading mental illness in the United States which affects 40 million people that are of 18 years of age or older which comes out to 18.1% of the population (aada.org). This number is nearly a quarter of the population as anxiety is related with many other disorders such as OCD, PTSD, Stress, and even depression (aada.org). The latest trend in combating this alarming statistic is CBD oil. The main purpose of CBD oil is to regulate the body’s endocannabinoid system, which targets the neurochemical network of the body as it controls primary functions, such as mood, sleep, immune response, cognition, appetite, and paint (Observer, 2020). This is more than a fad and it seems to be here to stay. 64% of Americans are familiar with CBD and/or CBD products (Brenan, 2019) while 33% of American adults have used CBD once or more. (Berger, 2020). After extensive research, it is clear yet shocking that there is no CBD infused toothpaste on the market. Colgate Calming Sensation and Relief will be produced by it’s parent company Palm-Olive and will be infused with a minimum of 40 mg of CBD oil as this is the average amount recommended for treating anxiety and helping one to sleep (Ashton, 2020). It will be recommended to brush before bed and once you wake up as this will allow for better sleep and calmness throughout the day as from a recent study showed that 66.7% had reported an improvement in sleep from this dosage (Caporuscio, 2020).Market Summary
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