Unit II : Company Overview And Market Research

1152 Words5 Pages
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,
…show more content…
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
Open Document