Tremco

In: Business and Management

Submitted By hsiehjf
Words 3543
Pages 15
Introduction Tremco Ldt. was founded in 1962, as a manufacturer and distributor of protective coatings, sealants and industrial applications for consumers. During a North American Hardware trade show in 1987, Tremco discovered a great opportunity. A private labeller, Foam-o, agreed to give Tremco the exclusive right to distribute the insulation spray foam in Canada. Tremco began importing, to Canada, from Foam-o within a year, without incurring any new product development cost, and no additional overhead. However, Tremco still faced numerous problems ranging from poor market share due to the high pricing position, to a lack of consumer awareness and knowledge due to a poor promotional strategy. To add to this, Canadian Tire which accounted for 25% of all hardware sales in Canada was reluctant to cooperate with Tremco. In the effort of improving Tremco's status quo, two marketing strategies and implementation plans are introduced in following report.

Market Audit For a detailed list of marketing parameters, see Appendix 1.1.
Product:
Tremco’s Mono Foam line up of products started with a 350g can of expanding insulation foam and later had an addition of a 935g can. This is compared to the three common sizes of foam in the overall market, a small 350g can and medium size 620g can and a large 935g can. The smallest size sold 733 thousand, whereas, the medium and large sizes sold 604 and 304 thousand respectively in 1990. The brand name “mono” is said to represent quality to its customers, however the product is not significantly different than its competitors. This creates problems, as potential customers cannot justify buying Tremco’s product over other products. The product is also relatively unknown, with 20% of consumers being aware of the product. The aware population saw the product completely different from other Tremco lines like…...

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