Product Description
The product under analysis is offered by the famous retail company, Wallmart. The product is called Dove Purely Pampering Coconut Milk with Jasmine Petals Body Wash, and it is currently available on the store for 5.47$. The selected product is a nourishing body wash that is said to contain a large scope of moisturizing elements and to have a pleasant cherry and almond scent (Wallmart par.1). It is essential to note that Dove’s product line composes a series of similar products with different ingredients and kinds of scent; this product was mainly chosen because of the catchy and bright design.
According to Richardson and Gosnay’s product classification, Dove Body Wash refers to the “convenience goods” group. Otherwise stated, an average consumer would normally spend the minimum of time while purchasing this product. As Richardson and Gosnay note, such products as Dove Body Wash do not imply any critical financial risks; as a result, a consumer is likely to purchase it “through routine” (55).
Product Life Cycle
The product shows to have strong marketing positions in terms of the customers’ reviews. Hence, according to the public survey, most of the customers would like to recommend this product to their friends (Customer Reviews, 2016). Therefore, it is rational to assume that the product has already accomplished the introduction stage – otherwise, public awareness would be lower. Brief market research shows that the product has been on sale for more than two years now (Beutypedia par.1). As a result, it must have completed the growth stage as well. It would be most logical to suggest that the product is currently at the maturity stage of its life cycle.
On the one hand, the sales are supposed to be still consistent at this stage. On the other hand, Richardson and Gosnay warn that as soon as a more competitive market entrant appears, the product will pass over to the decline stage of the cycle (60).
In the meantime, the company might attempt to extend the product’s maturity stage and maintain relatively high sales, in such a manner, for some more time. According to Richardson and Gosnay, there are four principal ways of extending a product’s lifecycle: re-launching, finding new uses or users, and increasing the frequency of sales (62). The latter two seem to be inapplicable to the relevant case as, first and foremost, the product is already purposed for everyday use and, besides, the targeted audience is highly extended. Thus, the only option the company can choose is to re-launch the product – it can be performed by implementing a new package, for instance.
Recommendations
Dove has a wide range of offers and it regularly adds a new item to its product line. Thus, for instance, the company has a diverse choice of skincare products targeted for different skin types and ages (Dove par.1). Meanwhile, Dove offers only standard-sized packages or super-size packages, which are convenient in terms of everyday use and cost-effectiveness but are inappropriate for taking on a journey. As a consequence, it is recommended that Dove works out the so-called “travel size” products like those offered by LancĂ´me, their costly competitor (LancĂ´me par.1).
In addition, the brand has already strengthened its positions in the low-cost line and has shown that the quality of its production is highly competitive. Thence, it might be recommended that it develops a trial product of a luxury type.
Works Cited
Beutypedia. Purely Pampering Nourishing Body Wash Coconut Milk with Jasmine, 2014. Web.
Customer Reviews, 2016. Web.
Dove. Skin Care, 2016. Web.
LancĂ´me. Travel Size Products, 2016. Web.
Richardson, Neil, and Ruth, Gosnay. Creating Success: Develop Your Marketing Skills, London: Kogan Page, 2010. Print.
Wallmart. Dove Purely Pampering Coconut Milk with Jasmine Petals Body Wash, 2016. Web.