3 pages/≈825 words
Business & Marketing
Unit three (Essay Sample)
Arimount, a well-known beauty and grooming company wants to launch a new deodorant product. The company's development and research department has created a new chemical that will allow deodorants to work for up to 5 days—even after showering. Arimount has been in the hygiene market for 20 years with an average return on investment. They would like to top the market share with this innovative product. 1. To what segments will your company market to, and what variables should be used in these segmentations? (400 word response) 2. Discuss the way your company will address your customers' buying decision process. (400 word response) **************Please see attachment for the product that was created************* source..
Segments the company will market “Bravo Max” to and the variables to be applied in these segmentations
The segments targeted for marketing of the new product “Bravo Max”, will be divided by social class such as Middle class and the Upper class. Apart from these class segments, the company will as well market to the adult segments of Men and Women. Moreover, the segment of Teenagers will also be marketed to. Aggressive marketing to these segmentations will not only improve the product sales, but also help the company to gain a significant share of the market with the innovative Bravo Max products. It is expedient to target the right market segments and the identified segments will enable Arimount to attain its objective of topping the market share. Although most consumers of deodorant products are adults, teenagers should also be accorded a lot of concern if the company aims to dominate the market and increase its market share. That is why the company will also market Bravo Max to the teenager’s segment.
There will be three variables to be applied in these market segments; branding, pricing and promotion. Product branding will involve the development of different Bravo Max product brands that target specific market segments. For instance, there will be a Bravo Max deodorant brand specifically targeted for the Upper class and another brand for the Middle class. This class differentiation will enable Arimount to develop high quality brands for consumers in these social classes. Moreover, Arimount will also develop Bravo Max brands that specifically target female buyers and another for male buyers while another extraordinary brand for the teenage buyers.
The second variable to be used by the ...
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