Clean Edge Razor Case Analysis

Clean Edge Razor Case Analysis
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Clean Edge Razor Case Analysis
Overview
Clean Edge Razor is a new product by Paramount Health and Beauty Company. Paramount is a global firm with a broad range of products in the health and beauty industries. The company is well established with a record of 23.3% market share in the industry in 2009. Paramount also recorded a profit of USD 13 billion and USD 7 billion in the same year. The firm has been producing non-disposable razors since 1962 under the label Paramount Avail and Paramount Pro (Quelch &Beckham, 2011). However, to ensure continuity in growth and expansion on the range of their products the company has manufactured a yet to be launched Clean Edge Razor. The product manager and the executives are facing a challenge in determining the best strategy to position and price the new product in the market without affecting the past items but maximizing sales. This essay will analyze this challenge; weigh possible solutions and their impacts on the product management and the firm operations. Further, a most appropriate recommendation will be selected to help launch the product effectively.
Situation Analysis
The Clean Edge Razor is an improved edition of the existing refill cartridge and non-disposable razors in the market. In between 2009- 2010, the male personal care and grooming products attained a growth rate of 5% while women’s products attained 2% in the same timelines. Paramount being a prime participant in the industry had the advantage to analyze the changes in consumer behavior and preferences to design a new product with improved features. Clean Edge Razor is the improved product with ultra-thin, vibrating, five blades compared to three blades in the market at that time. The five blades helped in increasing effectiveness by ensuring an increase by 25% hair removal (Quelch &Beckham, 2011). Additionally, the razor has a heavier handle for better grip, balance, and control of the machine during the shaving process. The design will ensure that consumer satisfaction is raised. As a result, the razor is highly recommended and needed in the industry for it’s a new revolution and is likely to win the taste of many consumers (Kotler, 2013).
In order to understand the resources needed to position, brand, and promoted Clean Edge Razor appropriately in the industry, understanding the current market factors is important. Therefore, in this sector consumer behavior, competitors, and a SWOT analysis will gather the needed information to solve the current challenge in the firm (Kotler, 2013).The non-disposable razor users have been categorized into aesthetic shavers, social or emotional shavers, and maintenance shavers. According to the data provided in the article, the aesthetic, social, and maintenance consumers comprise 28%, 39%, and 33% respectively of the razor users.
Moreover, aesthetic and social shavers have been associated with the need to explore and test new products, unlike maintenance shavers that are mostly loyal to a particular brand or view all brands as same. The aesthetic shavers concentrate more on achieving a smooth skin result while emotional shavers care ...