Posted on : 2023-03-05 22:04:28
Article : Good morning, Monday Management Solution for TASK 231- By offering single variant options, Harry’s was able to convince customers that they need look no further for the best razor.
In this part we discuss on an interesting marketing aspect on products with fewer variant options but still the brand stand as consumers choice. You can understand the brand marketer Harry’s marketing strategy winning the market with no choice option of brand product variants. In factual means the idea of having a wide range of choices is central to the traditional razor shopping experience, but Harry’s proves this isn’t what people want. The strategy stood in contrast to the earlier marketing practices of razor giant Gillette, which was acquired by P&G for $57B in 2005. The company was known for a long time for launching a slew of new products and hyperbolically calling each one “the best.” It was also known in the past that this acquisition was for the practice of steadily increasing its prices. Since launching in the early twentieth century, prices on Gillette blades went from pennies a piece to as much as $6 a blade (though Gillette eventually lowered its prices and created new distribution models). It’s a strategy that has been so effective at helping Gillette build dominance as the “razor and blades” business model.
Harrys instead cultivated a brand that embraces simplicity. It only sells one type of blade, and refills come in at about $1.87 a cartridge. You can get a rubber handle to put those blades in for $9, or upgrade to a metal one for $20. It’s relatively narrow compared to the product line of a company like Gillette, which is exactly the point. The single razor option that Harry’s offers, however, actually borrows something crucial from Gillette as it uses the same “optimal” number of blades. Every Harry’s razor has 5 blades, plus an extra one on the back for trimming in tighter spaces, the same blade quantity and layout as that of the Gillette Fusion5 first released in 2006. Where Harry’s sets itself apart is in all the new models and new features it chose not to layer on top of that basic 5-blade model.
While Dollar Shave Club tells you its blades are “great” and Gillette brands its razors with names like “Mach” and “Turbo,” Harry’s uses a more subtle, affable kind of brand voice. On its social media posts, the Harrys says that “Unlike the big brands that overdesign and overcharge, we make a high-quality shave that’s made by real guys for real guys.” And the owners hone in on this message, saying, “We’ve built Harry’s to reflect our passions and values: affinity for simple design, appreciation of well-made things, and a belief that companies should make the world a better place.” This “guy’s guy” branding is key to the ultimate success of the Harry’s model. It’s not enough to just make only one razor. You need to convince people that the one razor is actually preferable to the other company’s razors. By offering fewer options, Harry’s was able to convince customers that they need look no further for the best razor.
Building on that success, the company eventually expanded into adjacent products. Harry’s now offers men’s face wash, shower, and hair care products, along with accessories such as toiletry bags. It also launched a women’s brand, called Flamingo, that sells razors, gels, lotions, wax kits, and more. As sales burgeoned, the company caught the interest of Edge well Personal Care, an established consumer products giant. Edge well proposed to buy its D2C rival for $1.4B, but the acquisition didn’t go through because the US Federal Trade Commission (FTC) argued the deal would harm competition. The company’s marketing and product prowess served it well during the Covid-19 crisis, as it’s experienced a spike in demand.
End point- For a successful start-up a single product for utility is large consumer group should be the main focus. The present era business style of D2C is most convenient for cost control and speedy consumer feedback based on the sales. On successful launch the start-up entrepreneur should commence on related products without much time gap and for better ROI in short time.
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