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Principles of Marketing

Paper type: Essay
Pages: 4 (877 words)
Categories: Business, Marketing
Downloads: 30
Views: 17

Answer the following questions:

A)Explain your product and why you chose it?

The product we have chosen as an innovative product is a Pocket Toothbrush (PTB).  It is a simple product in the form of a pen easy to carry and multicolored.  This product consists of a fixed base and brushes can be installed and change on this base and these brushes are multiform according to the use of the person, for example, a soft brush or rough brush or sensitive teeth, while you can fill this pen with toothpaste from the bottom and this is enough for use for a minimum of two weeks or three weeks and then you can refill it again.

  The method of using this product is as follows: All you have to use is to pre-fill the pen with toothpaste and install the appropriate brush for the type of your teeth so this product is usable at any time. When you finish brushing your teeth, you should wash the brush and bring the lid back into place.

The reason we choose this product first, is that because there are many studies that indicate that there are a lot of dental problems due to lack of brushing and non-existence of brush and paste with them always after each meal because they are out of the house for long hours and our product helps people in brushing in any time.  Secondly, because it is easy to carry so that this pen contains a brush and toothpaste together and you can carry it in your pocket or bog instead of taking it like the traditional method toothpaste separately and brush separately.

Thirdly, because it is so consumable that you can buy this pen once and depending on your desire and need you can change these brushes whenever ruined. Lastly, the shape of the product, its shape does not suggest to the viewer that it is a toothbrush, but as a pen with a beautiful shape.

B)Specify your target market for the innovative product?

Our target market is generally all the age groups but especially for those who spent a lot of their time outside the house so, at the first stage, the product will be distributed initially in all entire of Saudi Arabia. Second stage, we are targeting All medal east countries. The third stage, Euorb, and America. Finally, the product will cover all world countries.

C)How much the product is oriented towards marketing concept? Specify customers’ needs and how did you understand them?

Customers are able to brush their teeth easily and comfortably. This product supports them with personal hygiene. It is also an environmentally friendly product. Why? Because the consumer will buy it once. And only they have to change the head of the brush instead of buying new brush. And that will affect on the environment in a negative way. This market concept linked with our market, new innovative way to use brush. We introduce a product that is mobile to allow for quick use anywhere for those people who are busy all the time outside herhis house. For example the student in the collage, they can maintain the personal hygiene by brush herhis tooth after having the lunch. Instead of brushing when the student arrives home, or before bedtime. Also, the results of creating this brush give our costumer, what they need and made them feel good about using it.

D) Explain in detail the internal and external factors affecting the product?

One of the essential internal factors that may affect this unique toothbrush is promotional activity. Due to a multi-functioned design, which not only involves a beautiful appearance but also provides a cover and roller with the possibility to fill the three-weeks amount of toothpaste reserve, it would be quite easy to create a captivating advertisement. Though such a product may need an internal factor of a high price, this feature will not affect the popularity of the toothbrush because of its extraordinary characteristics. Distribution channels, as an important internal factor, also have a powerful effect on the level of customers’ satisfaction.

Competitiveness may be regarded as the most affecting external factor. Significantly, the competitive level of this toothbrush is quite high, as it does not have the contenders on the marketplace. Various social and cultural external factors could be a force the success of the product. Hence, the proper segmentation of potential customers, including their purchasing abilities, nationality, gender, and healthcare knowledge, is a crucial point. Thus, in combination with favorable economic conditions, these external factors may have a positive influence on product development. Additionally, such inappropriate factors as a financial crisis or national currency depreciation are a barrier for the successful marketing realization because selling the product in a country with stable economy is not the same as selling it in other country with poor economy.

5)Write about the price, promotion and distribution plans you intend to have for your product.

We are planning to produce different models and types and the price will be varying based on that.

Our strategy in marketing is to reach all customers via the following:

  1. All Social Media platforms.
  2. T.V. advertisement.
  3. Product procures to be distributed through attractive stands in all big hospitals & big malls.
  4. Distribute product procures in pharmacy.

Cite this essay

Principles of Marketing. (2019, Dec 19). Retrieved from https://studymoose.com/principles-of-marketing-essay

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