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Questions and Answers
What is the contribution to total sales of the 90 ml bottle of Sariwa Silk?
Which region showed the highest revenue for Sariwa Silk in 2023?
What is the primary consumer need that the Sariwa Silk tube format aims to address?
What was the projected growth rate for the Philippine hair-care market from 2021 to 2026?
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Which Sariwa Silk product has the lowest contribution to total sales in volume percentage?
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What was the total revenue for Sariwa Silk in 2023?
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What is a concern Rex Lim has about the new Sariwa Silk shampoo tube?
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Which statement best summarizes Sid's view on the impact of the tube format?
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What is the primary focus of the positioning for the new product?
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Which region is noted for having higher shampoo sales according to market research?
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What potential opportunity exists in Mindanao's market?
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What sales targets should B&T consider for the Sariwa Silk products?
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What factor is important when analyzing tourist demand for the new product?
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Which brand competitors are mentioned as strong in Luzon?
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What is a potential benefit of offering the Sariwa Silk in tube form?
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What aspect should be avoided when setting targets for the Sariwa Silk products?
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What is the target growth percentage for B&T in 2024 with the new product launch?
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What percentage did the sales of the Sariwa Silk product line grow by in 2023 in Southeast Asia?
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Which SKUs contributed 50% of Sariwa Silk's total revenue?
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What was the increase in revenue for B&T in 2023 compared to 2022?
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What was the growth percentage of Sariwa Silk sales in the Philippines in 2023?
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Study Notes
Overview of B&T Goods International
- B&T Goods International, established in 1998, specializes in premium personal care products with a focus on innovation and eco-friendly packaging.
- In 2023, B&T achieved revenue of over PHP ₱8 billion, marking a 14% increase from 2022.
- Sariwa Silk is one of B&T's main product lines, contributing to 25% of total sales, with a revenue growth of 6% in 2023.
New Product Launch
- Planned launch of a tube form of Sariwa Silk shampoo in January 2024, initially in the Philippines with potential expansion to other Asian countries.
- Sariwa Silk product sales in Southeast Asia increased by 18% in 2023, while in the Philippines, the growth was 11%.
- Four variants of Sariwa Silk shampoo were mentioned, with the 90ml and 170ml bottle sizes contributing 50% of total revenue.
Product Portfolio Details
- Tube Size: 100 gm, priced at PHP 129, positioned as a travel-friendly product.
- Current Product Sizes: Include 675 ml, 400 ml, 170 ml, 90 ml, and a 6 ml sachet, with sales contributions varying across sizes.
- The introduction of the new product aims to optimize market opportunity and customer convenience.
Market Overview
- The Philippine hair-care market was valued at approximately PHP ₱70.1 billion in 2021, projected to grow at a CAGR of over 3% from 2021 to 2026.
- Increasing consumer demand for organic and natural hair-care products is noted, aligning with market trends.
Sales Performance by Region
- Regional revenue breakdown in 2023:
- Luzon: PHP 1,008.7 million (3.8% growth)
- Visayas: PHP 410.7 million (9.5% growth)
- Mindanao: PHP 581.4 million (7.6% growth)
- Total revenue for Sariwa Silk across the Philippines was PHP 2 billion with an overall growth of 6%.
Strategic Considerations for the Launch
- Discussion indicated a potential for the tube product to attract new customers rather than cannibalizing existing product lines.
- Marketing strategy will highlight the tube as convenient for travel, while emphasizing the benefits of the traditional bottle formats for home use.
- Proposed different sales targets for regions based on individual market performance, with a focus on Luzon for higher sales and Visayas as a target for eco-friendly travel products.
Questions for Strategic Consideration
- Should B&T proceed with the tube form launch of Sariwa Silk?
- What segmentation, targeting, and positioning strategies should be devised for this product?
- What factors should be considered when setting sales targets for 2024 across different regions, along with suggested value-wise and volume-wise sales targets?
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Description
Explore the key highlights of B&T Goods International, a leader in personal care products with a strong emphasis on innovation and sustainability. Discover the growth of their main product line, Sariwa Silk, and details about the upcoming launch of a new shampoo variant. Learn about revenue trends and product portfolio specifics that underline the company's market position in Southeast Asia.
