Product Management Term Paper Final
Product Management Term Paper Final
Product Management Term Paper Final
Alvarez, Renz
A.
Etang, Darwin
M.
Pulvera, Ryann
A.
1 A Term Paper submitted in partial fulfillment of the subject Product Management under
Prof. Jay Laborte
Executive Summary
Various job and numerous daily activities (i.e., recreational, chores) in order to be done require lifting
of heavy objects and exposure of palm skin into rough surfaces. Consequently, it incurs damages on
skin, particularly the first and second layer of palm skin, muscle, and nerves which decreases the ability
of the individual to perform his/her tasks in the most effective manner. Calluses, for instance, become
the most common skin problem of workers and gym lifters.
In the current market, there are available products which aim to protect the hand, particularly the palm,
from damages and disorders arising from lifting of heavy objects and exposure to rough surfaces.
While these products have been effective to some extent, there are still areas deemed to need further
improvement which includes the following: durability, comfort, cost-effectiveness, and efficiency.
Hence, the study present a product which intends to ensure the utmost performance of individual users
by protecting the hand, particularly the palm, from damages brought upon by the pressures of lifting
heavy objects and exposure to rough surfaces.
A. Problem
Lifting of heavy objects and constant contact in rough surfaces decreases the ability of an individual to
perform his/her tasks in the most effective manner because of damages on the following:
i.
ii.
iii.
(ii)
(iii)
It is believed that the name and tagline encapsulate the vision of the product - to protect the
users hand/palm in order to ensure that the task will be completed in the most efficient and
effective manner.
The product will be made out of the following materials: rubber, foam, silicon, and cotton. The
foam sewed inside the Palm Protect will provide cushion to the palm. Not only will it provide
comfort but will also make you feel no pain in carrying heavy objects. Rubber will be a very
durable material which can protect the outer layer of the skin from the friction produced when
carrying heavy objects. Silicone will help and provide comfort in the areas in the palm that
callus usually appear. 100% cotton will allow air flow and it is very durable.
D. SWOT Analysis
STRENGTHS
WEAKNESSES
Cost effective
Familiarity of product
Competitors
Stylish
Light weight
OPPORTUNITIES
Strengths
THREATS
Growing trend of imitating products
that could lessen and/or negatively
impact the credibility of the original
product
Consumers that prefer the traditional
gloves
Tax
The manufacturer will ensure that the Palm Protect will be a cost effective purchase for the consumer.
It will not sacrifice the quality of the product while making it affordable. Unlike other cheap gloves
which can only be worn once, our product will be durable enough to be used several times. Also, the
product will be available in various colors and designs which will be attractive to consumers
particularly the younger generations frequenting the gym/fitness centers.
Weaknesses
Since the product is a new creation, it has low to zero level of familiarity to the consumers. It needs to
build its credibility through strategic marketing strategy and materials. On this note, the
capitalist/manufacturer has to allot some budget for marketing and promotion. Also, there is a growing
problem in terms of availability of materials (i.e., cotton, rubber) in the local market. It is deemed to
affect the total manufacturing cost which in turn move the cost of the product.
Opportunities
The growing trend and interest of people on the following is seen to increase the demand on the
product:
-
In terms of marketing and promotion, popular social networking sites (i.e., facebook, Instagram,
twitter) is expected to become popular and cheap form of advertising medium.
Threats
One of the main threats is the growing trend of imitating products that could lessen and/or produce
negative impact to the credibility of the product. There might be some unauthorized person/company
which will manufacture gloves with same design and technology but way beyond the quality of our
product. Hence, the trust of the consuming public ma dwindle. Some consumers also prefer old gloves
rather than Palm Protect because traditional gloves are cheaper.
2) PRICE:
Palm Protects price will vary depending on the size.. The bigger the Palm Protection is, the higher the
price. The price also varies on the materials used , including tax and deign. The price range is about
200- 300 per pair.
3) PLACE:
Palm Protect can be bought in hardware stores specifically in Ace Hardware Store, supermarkets like
SM Supermarket and Robinsons Supermarket, sports centers, like Toby which can be found in malls,
and our product can also be bought online in selected sites namely, Alibaba, EBay, Amazon and Sports
Direct. Gym and fitness centers can also retail the product.
4) PROMOTIONS:
In terms of promotion, we decided on hiring popular athletes to help us endorse our product and
advertise with the use of television commercials, advertisements from magazines and newspapers,
brochures and encourage some of our friends and relatives in social media. We would be making a page
officially for our product, Palm Protect. With this, we will post the features, prices and where the
people can purchase it, including contact details so that they can inquire.
Target Market
For our target market, since our business is the business to business (B2B) type, we selected companies
in specific namely, Quality Gloves Manufacturing Corp, Amed Enterprises (Leather Gloves-Sub-Con),
Royal Gloves Philippines, Inc and Reno Gloves Inc. We also target customers who go to the gym to
workout, not only for men, but also women, and for people who work in construction sites.
Segmenting
We segmented our market into different groups: under demographic, people who are in the working
class wherein their job is to lift heavy things and do heavy lifting, and people who are of middle to old
age; and under psychographic, people who prefer to secure their skin and people who love to go to the
gym which is considered one of their hobbies.
Materials
The materials used to make the Palm Protect consist of baller like rubber for durability and grip,
silicone for comfort in areas in the palm that are more likely to have callus, cotton for the base of Palm
Protect and heavy duty strap for wrist support.
Manufacturing Methods
Producing
rubber
Choose colors of
rubber for
design
Creating design
for your gloves
putting of
silicon in the
rubber
PALM
PROTECT
Forming of
rubbers into
gloves