High End Product Marketing Plan (Bic Pens)

High End Pen SWOT

Strengths

The BIC brand as a whole has an excellent reputation of being able to identify their customer and provide them with cheap products that will keep them happy. Their business model recognizes the advantage of investing in their employees and treating them well, and they dedicate themselves to building a strong management team that will continue to strengthen the brand through effective decision making. They have a strict control system policy that allows them to achieve the level of perfection that they boast. That kind of discipline would transfer smoothly into the high-end product process. They make high sales numbers and have a majority of their factories overseas -- which cuts down the cost of production.

Weaknesses

The BIC brand has spent its entire existence building a reputation for being able to produce cheap, disposable writing instruments that work. Their reputation will hurt their legitimacy in a high-end product market, and they could also lose the respect of their current customers by trying to force themselves into a place they do not belong or need to be. BIC has always worked with high production capacities that are factory produced – this method of production does not work in a high-end market because the value is in the exclusivity. Luxury pens are a custom craft that require extra attention to be paid to the design and craftsmanship of the instrument, something BIC also lacks experience in. The strategy that has worked so well for BIC since the beginning cannot be used as a template in this new venture, which could serve as a big challenge for senior leadership.

Opportunities

BIC’s European roots have the opportunity to play a huge role in developing a separate persona for their luxury pens. The luxury pen market is small, which provides an easier opportunity to stand out amongst competitors, and there is still a use for luxury pens among business executives, diplomats, clients, celebrities, etc.

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