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Pages:
3 pages/β‰ˆ825 words
Sources:
2 Sources
Style:
APA
Subject:
Business & Marketing
Type:
Essay
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
$ 12.96
Topic:

Vaseline Brands as the Everyday Life Product

Essay Instructions:

For Term Paper #1 you are required to pick a product or service you use in your everyday life and describe the market for this product. Please make sure to address the following questions: 1. What factors influence the demand for this product? What factors influence the supply of this product? 2. How have these changes in supply and demand affected the equilibrium price of this product? 3. Do you anticipate any changes to the demand and/or supply of this product in the near future? If so, what is driving these changes?

Essay Sample Content Preview:

Vaseline Brands as the Everyday Life Product
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Vaseline as a Daily Product
Vaseline is one of the most recognizable skincare brands in the world, gaining a strong customer base by focusing on the body moisturizing needs of consumers. The brand, founded in the 19th century and now currently by Unilever, encompasses a range of body moisturizing products, as well as other products such as lip therapy, deodorant and shower gels. The utilization of Vaseline is increasing across the world as time goes by, for instance, the global body care market was worth $11.7 billion in 2009, with Europe being the strongest market, at $4.8 billion in that year. Growth is forecast to be fairly small in the 2009 to 2013 period, with the US market forecast to have a compound annual growth rate of only 1.3%. Europe is seen to have the strongest regional growth, at 4.8%, indicating that the region will continue to be the largest brand for body care as a product. The majority of people regard using it because of its defense against diseases, waterproof barrier and it's always growing and replacing itself. Passion and curiosity motivate the brand for skin (Datamonitor, 2009).
The demand for the products is influenced by various factors such as the price of the product being relatively cheap which can be afforded by many people. Vaseline is packed in different quantities which can fit all calibers of individuals. The product also exists in high quality which has attracted many people to the products. Hence, there has been an increase in demand due to the progressive increase in the quality year in year out. Vaseline has acquired a high percentage of the share in the skin care market by focusing on consumers' dry skin problems with over 100 years of experience in the skincare market gaining a strong customer base in body care. Vaseline is the fifth leading global brand for body care. Its popularity varies around the world, but in general remains in a stable position. In its US home market, where the brand was born, Vaseline is the leading brand, with a 7% share. It has managed to utilize a grass roots approach in marketing its brand's widespread appeal CITATION Hol96 \l 1033 (Holigan Group., 1996).
Vaseline's advertising for its various products aims to reflect its broad, cross-generational appeal. In 2008, for instance, the company intended to promote its clinical therapy product as being suitable for everyone to use. The brand is described as being a prescription-strength moisturizer for dry skin that people can use every day hence increasing the demand for the product (Holigan Group., 1996).
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