COMPETITIVE LANDSCAPE

The competitive landscape refers to the list of options a customer could choose rather than our product.
The list includes our competitor’s products and other types of customer solutions. The product we have
decided to work on is sunscreen; which comes under the category of skincare. The market size of
sunscreen in Bangladesh was valued at $1.23 billion in 2020 and is expected to garner $2.12 billion by
2027. The competitor brands include Neutrogena, Pond’s, and L’Oréal, which are international brands.

New Opportunities Identification

The market size is estimated to expand at a compound annual growth rate (CAGR) of 8.1%. If we can
provide the consumers with a good quality product at a comparatively less price, we can have a nice
piece of market share in this sector.

Consumer Understanding and Insights

Our target age group is 16 and above. Since it is a gender-neutral product it can be used by both males
and females who are generally conscious and concerned about their skin problems. The main target
consumers are from lower middle class to middle-class people who want to buy skincare products at an
affordable price.

Our Big Idea

Our big idea is to produce a sunscreen that would cater to the needs of all skin types which is accessible
and affordable for all classes of people.

Since Marico is already a well-established and trusted brand, it can bring about a radical change in this
consumers market. This product has the potential of becoming a new source of revenue for Marico.
Brand Definition and Category Fit
Sunscreen belongs in the skincare category. It stands for functionality and value for money.

Market/Opportunity Size of the Idea

The idea of sunscreen that we are trying to provide is a mass product. Since we are targeting consumers
from all classes and ages above 16 by providing the product at a lower price, we can have a good market
share.

The value proposition of the Idea

Our sunscreen offers two important value propositions: affordability and quality.

Unique Selling Proposition

Our sunscreen would be light, fragrance-free, and transparent and would be able to cater to the needs
of all skin types. It would prevent hyperpigmentation and sun damage. Aging and wrinkles are also
reduced by sunscreen. Most importantly the risk of skin cancer gets reduced by sunscreen. Since we are
going to provide the product at a low price point, a lot of people will be encouraged to buy the product.