ARIMOUNT MARKETING PLAN 7
Asan established company, Arimount has found a new marketing task ofintroducing a new deodorant in the market. As the first step in themarketing of the new product, this marketing plan outlines andcomprehensively illustrates the marketing research and marketsegmentation of the company along with the strategies of customersatisfaction. In addition, this marketing plan explores customerdynamics and buying decisions to enable the company introducestrategies that will position it for customer preference and loyalty.Moreover, the marketing plan explores the dynamics of the product andproduct levels to establish channels that will steer the newdeodorant to market success.
Thecompany will engage in qualitative marketing research other thanquantitative research. Qualitative research, or the inductiveapproach will be more important in the scenario of the new product acompared to qualitative research. This is primarily because the newproduct being introduced in the market involves the emotional part ofthe human being by making a decision to buy the product and not thequantity to be bought. To establish a successful market research, thecompany will focus on the issue of response of the test customers onthe new product. Therefor the research will involve receivingfeedback other than bombarding respondents with market researchquestions.
Thecompany will determine the satisfaction of customers primarily by theresponses from the marketing research. This is the main reason whythe research should focus on the responses since the company needs toevaluate customer satisfaction from first hand information. To createcustomer loyalty, the company will ensure that the quality of theproduct is up to the customers’ expectations of a high designervalue. Secondly, the company will establish reward programs andpromotions targeting frequent buyers where the qualification will beproof of repetitive purchase. Finally, the company will use itsestablished customer care department to respond to customer concernsand cement customer relations.
Thecompany will establish the market segmentation using the variables ofgeography, demographics, psychographic and behavioral. Geographicsegmentation will lead to local market and international marketsegments. The local market will be segmented in terms of states andregions, while international segments will be classified in terms ofcontinents and countries. However, the company will divide the wholemarket into two main segments the ladies and men. This is becausethe putting pattern of the product is different between men and womensince the two segments have different emotional preferences. Eachsegment will be addressed according to their uniqueness in the buyingdecision making process.
Customers’buying decision process
Thecustomer buying decision making process involves problem recognition,searching for information, evaluation alternatives available, makingthe purchase decision, purchasing and the post-purchase evaluation.To address this process, the company will focus its marketing messageto invoke the customer to identify a problem by creating a need for aproduct that lasts longer. Secondly, the company will direct itsmessage to convince the customer that Arimount has the best solutionas the first of its kind in the market. After the purchase, thecompany will establish confirmatory messages that will assure thecustomer of the correctness of their decision, thereby encouragingfurther buying decisions.
Thebrand elements of the product will be instrumental in differentiatingthe Arimount Deodorant from others in the market. The company willdesign the fragrance of the Arimount as a brand element. This willmake sure that customers recognize the product and differentiate itby itself. Secondly, the company will introduce a unique way ofpackaging the Arimount in a style that is unrivaled in the market.This will involve the expertise of respectable designers and registerthe shape of the package. Finally, the company will introduce aunique tag-line that will be meant to identify with the ArimountDeodorant in addition to the unique logo used by the company.
Positioningof Arimount Deodorant
Thepositioning of the Arimount Deodorant is founded in the time theproduct lasts compared with other products in the market. ArimountDeodorant is a product that is meant to last for longer, for fivedays compared with other conventional products in the market. Theproduct is therefore appropriately positioned to be a favorite forpeople who have an active lifestyle. For instance, the ArimountDeodorant will be a favorite for athletes and people who engage inlong exercises and long-distance travels. The product will also bepositioned as a favorite for women who like to smell good and at thesame time lead an active life.
Arimountstrategic group and competitive advantage
Arimountwill use cost position, price policy and product quality as thefactor to to identify the Compay’s strategic group in the market.The pricing of the company’s product will determine the strategicgroup that the company will be selling its products to. This will bean unavoidable factor as the company seeks to balance costs ofproduction with the price of the product. The competitive advantageof Arimount in distributing the new product using will be using itsexisting distribution channels as an established company. Inaddition, the company will focus on constant product improvementsand regular market rebounds in order to consistently gain competitiveadvantage.
Addressingthe five product levels
Thecompany will address the first product level of core benefit bydeveloping and designing a quality product whose main aim is tosatisfy the consumer through a long lasting product. The qualities ofthe product will be used to turn the core benefits into the a basicproduct, which is the second product level. This will entail thebasic information for marketing the product through description ofingredients. The company will further address the expected productthrough the description of features that the customers will beexpecting to explore in the product. The company will describe thefeatures of safety, manufacturing dates as well as expiry dates. Thefourth level of augmented product will include the addition of extraproduct features and benefits as well as associated services thatwill differentiate Arimount from competitors. Finally, the companywill keep transforming the product to make it better as a way ofaddressing the fifth product level of potential product.
Theprimary pricing objective is to keep up with the market competitionby introducing prices that will be affordable different segments ofconsumers based on their income. The main implication of the pricingdecisions of the company in the market will be customerdifferentiation. This is because the immediate price differentiationis the resultant market segmentation that will be created for thepeople who decide to buy at the price or not. Customers will respondto the prices of the Arimount Deodorant by either by buying differentsizes which leads to segmentation in terms of their ability to buy.However, the pricing strategies will also consider future changes inthe production, administrative and marketing costs.
Packagingand Labeling for Brand Image
Packagingand labeling of Arimount will focus on attracting, usability andimage. Arimount will package its product using the materials used inother products of the company since they all belong to the same classof deodorants. This will ensure the product is well secured sincepackaging is meant to satisfy the state of the product packed. On theother hand, the labeling of Arimount will focus on passing importantinformation to the customer. These two will combine to form a brandimage for the Arimount Deodorant. Therefore, the company will useappropriate colors and designs that are consistent with the currentcompany designs and image that familiarize Arimount in the market.
Channelsfor targeted Business Segments
Thereare several channels available for Arimount to use on the market,including retail channels, wholesale channels, franchising ande-commerce channels. The exclusive distribution channel will beappropriate to be used in the marketing of the Arimount Deodorant tocelebrities and sports stars who will be important as futureendorsement agents of the product. However, to cover the largemarket, the company will its existing retail distribution channel.This is because the company has extensive market coverage withoperational retail channels in different parts of the world.Moreover, the company has an existing e – commerce retail channelsthat it will use to sell the product to its online clientele.
Typeof Retailers to Use
Thecompany should use retail distribution networks and retail-enddealers to sell its products and maintain the image of the company.The main advantages of these retailers are that they are wellconversant with the market and the company has already used theirchannels in its previous market experience. In addition, theseretailers have a positive market image and have large networks thatwill enable the company to cover larger market. However, thedisadvantages of these retailers are that they require larger profitmargins, which will reduce the revenue potential of the ArimountDeodorant. In addition, these retailers do not cover the finalconsumers, especially the low-income consumers.