Unit II: Company Overview and Market Research
Arimount is a well-recognized company specializing in beauty and personal grooming products that has been in operation for 20 years. The company is pondering the release of a new personal deodorant product into a very competitive market. The company’s research and development department has created a new chemical that has proven effectiveness for up to 5 days provided the user does not use a soap on the treated area. Arimount will face stiff competition as a new entrant into the United States deodorant market where the company will initially distribute its product. Established companies have extensive portfolios and strong brand recognition with large marketing and advertising budgets,
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This new deodorant, named “Ironman”, is an homage to the world-renowned endurance race consisting of a 2.4-mile swim, 112-mile bicycle ride and a full marathon of 26.2 miles on foot. The company has engaged in talks with The World Triathlon Corporation to market the product with the Ironman logo. The product is readied for manufacture in two basic scents to start, one or males and one for females depending on market research as to preferences. Ironman will cater to athletes and any consumer who is physically active in leisure or at work.
Market Research Strategies
Marketing research is the systematic design, collection, analysis, and reporting of data and findings relevant to the marketing situation facing Arimount (Kotler & Keller, pg. 98, 2012). Marketing research will aid Arimount in gaining insights of customer expectations and requirements, competition and performance of current brands manufactured by Arimount to help them plan a successful launch of this new product. There are five established ways of conducting market research: observation, focus groups, surveys, behavioral data, and experiments (Kotler & Keller, 2012). Arimount will utilize some data that already exists relative to the deodorant industry, i.e. most consumers in the United States, nearly 67% utilized a stick type of deodorant, which is the predominant medium for long lasting deodorants (Mintel, 2012). The production of quantitative research in the deodorant
The biggest reason for the fall in sales of the deodorant was the Masculinity propaganda. It was simply based on the fact that the deodorant makes male more attractive to women. All the advertisements showed the product as a magnet which when applied by male would attract women. Although it managed to stay at the top of the market for quite a few years, but later it started to fall. Now there has been a change in consumer preference. Women do not like to be shown as objectives in the
For this application paper, I chose to write about personal care products as they relate to sex and gender. I chose this topic because I think that separate personal care products for men and women are, for the most part, ridiculous, and I also wanted to see what sort of differences there were between the two genders’ answers to the questions.
While natural options are available, many people complain about the inadequacy of natural deodorants to adequately mask body odor. There is now an abundance of alternative options—many improved upon since their initial introduction several years ago—that may inspire us to think again about incorporating natural deodorants into our body care regime. This article attempts to
Companies across the world are determined to compete for the survival of their brands. The magnitude of success of the marketing and advertising strategies of a new or existing product is majorly depended upon the organization itself. As a matter of stated facts when an organization advertises its products in the market they first have to identify the relevant answers of some questions like what is the product aiming at? What benefits will the user seek by this product? How the organization plans to position itself within the market and what differential advantages will the product offer over the competitors. Because the bottom line of all marketing and advertising campaigns, is to provide the suitable collection of benefits to the end users of the product. Successful companies are usually recognized as iconic brands. Success of a
Answer 7 Pall operates in Argentina, Australia, Austria, Belgium, Brazil, Canada, China, France, Germany, Hong Kong, Hungary, India, Indonesia, Ireland, Italy, Japan, Korea, Malaysia, New Zealand, Norway, the Philippines, Portugal, Russia, San Marino, Singapore, Sweden, Switzerland, Taiwan, Thailand, the UK, the US, and Vietnam.
Market research plays a significant role in shaping marketing objectives and strategies. This form of research is essential as optimal decisions can be made in areas such as sales performance, promotion, product, pricing, distribution and attitudes, allowing the product or service to grow. An example of market research in action lays with the company, “Boosted,” and has had an overall positive impact towards their second-generation electric skateboard product, boosted board. This skateboard can be controlled remotely without the need to push. The qualitative research in the form of surveys was conducted by Boosted, in which discovered that more than half of its users used their boards for daily commuting (Boosted, 2016). This survey makes known
These days a lot of products have become gender specific. However, occasionally these products are the exact same and work the exact same but with different branding. This a very prevalent today and it only helps to perpetuate the stereotype that men and women are not equal. This inequality does not help to develop our society. That being said, sometimes there is a legitimate need for gender specific products. Typically, these products can be placed in the broad category of “health care”. Health care products include everyday products like hair products, perfumes and deodorants. It can be observed that deodorants are probably one of the most used products in a highly developed society. Many deodorants are gender specific because they serve
Hyman, M. R., & Sierra, J.J. (2010). Marketing research kit for dummies. Wiley Publishing, Inc.
For baby boomer generation which is experiencing life changes brought by aging, they have shown increasing interests in cosmetics and toiletries, not only to enhance their appearance but also for other reasons. A simple example is that they use foundation with treatment ingredients to protect their skin against harmful UV rays, and to help a variety of skin problems.
A manufacturer of women’s shaving gel, Dermavescent Laboratories has enjoyed market success since the spring of 1991. In 2005, their sales were over $3 million, and according to market research and studies, a potential size change and package update could provide additional income opportunity. Study group Tan Soup has reviewed the current situation, analysis, alternatives, and recommendations in this case report. (Kerin, 2009)
Increasingly multi-national marketers are designing and selling global brands and need research to guide their decision making across an increasingly diverse and disparate world. Sound and timely marketing research becomes even more critical for firms as they compete in the 21st century
When looking to add a new product to the market, traditionally five steps occur in marketing research and lead to marketing actions. Of these five steps, step number three covers the collection of marketing data. Marketing data can be collected through either primary research or secondary research. The goal of this assignment is to describe both primary and secondary research, provide examples of each and determine how the author’s organization could benefit from each. The author will begin with a description of primary marketing research.
To determine the best way in terms of getting the products onto the marketplace and made successful, the most effective marketing and marketing research need to be
In order to continue to raise awareness, the marketing manager studied brand-tracking research from 10 countries every quarter. They would chose product
Many cosmetic brands are popping up recently, perhaps, due to the increasing consumers of products that beautify and enhance the physical appearance of a person. Even though the market is already full of the said cosmetic brands, the company L’Oreal Groups could still be considered as the leading supplier of cosmetics and hair-color. This study is a brief overview of the marketing concepts and strategy of the said company. The company profile will be presented to be able to give a clear view of the market to which the company belongs to. An internal and external (SWOT) analysis of the company will also be provided in this paper. Another area will be specifically devoted to