Product marketing

Topic: Product Marketing Introduction Competition is an essential element in business. This is because it determines the quality of product and controls the price of various products in the market. Competition is determined by consumers’ needs and preferences (Ferrell & Hartline. 2010 Pg. 615). It is therefore important for companies to have an idea of the market before releasing products. The first step in ensuring that a new product survives in the market is to design marketing strategies which will involve the right channels and segments that the product would have to adapt once it is officially released. This document looks at the market plan of Arimount Company on a new product. Marketing channels are links that connect manufacturers and consumers (Ferrell & Hartline. 2010 Pg. 617). Arimount Company has developed a plan strategy that involves the use of several channels in its marketing of the new product. Communication is the most vital element in the introduction of new products in the market. This entails the using of proper words and language to convince customers on the essence of using the product and the reasons as to why it outdoes products that are currently popular in the market. The company has a budget that involves investing on a magazine that well be published with name of the new brand product on its headlines. Media groups will be used to advertise the product in various commercial breaks. The company will also ensure that the products are transported to places all over the world in order to gain popularity quickly. The other channel is the price control aspect. The new product is expected to have customer friendly prices since it is being introduced I a competitive field of market. Using the SWAT analysis, the company has discovered that the product is currently facing many weaknesses and price is one of the major problems. The new product is expected to have a large channel membership since it will be a worldwide product. This shows that the product is anticipated to attract masses and thus there will be intensive distribution. Deodorants are products which are used worldwide. They do not depend on seasons as they are used regularly thought the year. The company has a broad system of production mechanism that will enable the satisfaction of all the customers globally. The company intends to use large scale retailers such as whole sale and mega markets in its distribution of the new products. This is to reduce the cost of transports and enable the product to spread in many geographic locations. Small retailers will acquire the goods from retailers whose role is to act as minor distributers of the company. The advantage to this is that the company will minimize on the expenditure cost and maximize on profits which is healthy in business. The system will also ensure adequate surplus to the retailers thus the product can reach a high percentage of consumers. There are challenges that come with this system of distribution. The challenges include; the product may not reach remote and undeveloped areas where there are adequate whole sales and mega market. The few large retailers that are present in these areas have the task of serving a large area and may not be able to effectively deliver the products to all the location as required. Another challenge is that large retailers may switch the price of the product by a higher merging compared to the price allocated to the product when they acquired it. This may hide small retailers from buying the product. The end result will be poor distribution of the commodity. The company will not be able to make regular deliveries if the product performs poorly in the market. Poor performance of the product will cut down on the production level thus the company’s profits will in turn reduce. The company plans to attract sponsors who are expected to buy major shares that will help in funding of events. The events are aimed at promoting the popularity of the commodity as well as creating awareness of the benefits of using the new product. The type of events expected to help in the marketing of the product include; grand promotions, road shows, lectures and product promotion parties. Fairness deodorants are made in a simple but unique form. They are products of high quality and affordable which is a new idea had not yet been established in the cosmetic market. Most products in the beauty and cosmetic market are made to for people of different social classes (Ferrell & Hartline. 2010 Pg. 663). The products made of high quality are very expensive thus are meant for people with high social classes. Products of low quality are made for people in the medium and low social classes. Fairness deodorants are affordable to all since they are made with different designs but the same quality. Fairness products are not made only for the purpose of beauty as they also contain nutritional values. They prevent the skin from being burnt by sweat since the product contains drying agents. Conclusion Marketing of new products is a very hard task in the current competitive market. It entails a lot of technique and the application of the right strategies. Fairness deodorant is a product that has tried to apply this notion in its marketing strategies with the hope of successful sale. References Ferrell O C., Hartline D M. (2011). Marketing Strategy 5th Ed: New York. Cengage Learning pub.