How to Position a New Non-Disposable Razor in the Market

Case Study Analysis
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Case Study Analysis
Executive Summary
Paramount faces various challenges regarding the implementation of a new product called Clean Edge. The industry is highly competitive with major players like Prince, and Benet & Klein (B&K), and new entrants like Simpons and Radiance. In such a competitive market, Paramount does not know the most appropriate marketing strategy. One of the options is a mass marketing strategy. However, this strategy is likely to cannibalize existing brands like Pro, which are for the mass market. On the other hand, targeting a niche market means the company may derive less from the sales, despite the huge investment made to develop the product. The proposed solution is targeting a niche market with premium prices. The strategy will allow the business to maintain its appeal to customers who want high-quality products. Putting the proposed plan into action would entail making an implementation plan.
PEST analysis
Safety and environmental regulation from the government will impact how Paramount produces the Clean Edge razor. The company will be required to follow all the regulatory requirements before launching the product in the market. The economic factors affecting the market include inflation and unemployment. With high inflation and unemployment, consumers will have less purchasing power, which will adversely affect the sale of Clean Edge razors due to its premium pricing. Regarding social factors, the tastes and preferences of the clients will determine the reception of the new product. Lastly, advancements in technology have facilitated research and development to allow businesses in the razor market to come up with superior products. Technology services to accelerate the rate of innovation in the razor industry.
Market Analysis
The industry is highly competitive with other established competitors like Prince, and Benet & Klein (B&K). In addition, new entrants like Simpons and Radiance, which are well-established businesses in the personal-care product market, had intensified the competition. Regarding the environment, the rate of new product introductions had accelerated in recent years. There has also been a cultural shift, with less stigma associated with men’s preening.
Customer Analysis
The customer base is diverse and includes super-premium, moderate, and value. The client base displays different consumer behaviors, with some clients categorized as involved razor users while others are uninvolved razor users.
Competitor Analysis
The industry is highly competitive, with Paramount, Prince, and Benet & Klein (B&K) as the major plays in the market. The industry requires heavy investments in terms of product development and marketing to win the competition.
Company Analysis
The company analysis focuses on Paramount, which wants to launch a new razor called Clean Edge. In 2009, Paramount had $13 billion in sales and $7 billion in gross profits (Quelch & Beckham, 2011). The strengths of the business include its heavy investment in research and development, which has seen it come with the Clean Edge razor. Further, the Clean Edge razor is unique, which will differentiate...