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Paramount Health and Beauty Company’s New Product Case Study


Key Issues

The management should target the most intensely involved super-premium consumers. The primary segment of this brand includes men because of the desire for a superior shave. Therefore, the marketing perspective in this technologically advanced product is to target them and then move to the women segment. The second issue is that its mechanism has superseded the other products in the market. It is one of the greatest inventions.

Thirdly, Paramount Health and Beauty Company is a well-known brand in the market. Its products are unique and competitive in the market. The customers don’t expect products that are less than the desired principled quality from the company. The launch of the Clean Edge product should be above board. And hence, this becomes a strategy to confound them. The strength of the brand should be above board.

Recommendations

The brand will require a unique budgeting experience. The 2009 and 2010 marketing budgets have proved that the more money the company puts into product knowledge, the more the sales of the brand. Secondly, it is prudent that the enterprise invests in this quality continuously. The company should invest approximately $40 million into the marketing of Clean Edge Product.

Lastly, it should use the available mechanisms to channel the product into the market. It will help to maintain the current customers and gain more market from the competition.

Rationale

The finance department should prepare a budget for the next financial year’s expenses. Secondly, the available distribution channels should modify their shelves at the stores. A unique transport mechanism will allow the product to stand out in the market. Lastly, the product has unique features. The promotional activities in the retail stores will influence the market to take up the product quickly.

Works Cited

Childress, Sarah. “FRONTLINE from PBS. Web.

Lesk, Miachael, and Jeffrey Mackie-Mason. “Nudging Privacy: The Behavioral Economics of Personal Information.” IEEE Security and Privacy Magazine, vol. 7, no. 6, 2010. Web.

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Reference

IvyPanda. (2020, October 3). Paramount Health and Beauty Company's New Product. Retrieved from https://ivypanda.com/essays/paramount-health-and-beauty-companys-new-product/

Work Cited

"Paramount Health and Beauty Company's New Product." IvyPanda, 3 Oct. 2020, ivypanda.com/essays/paramount-health-and-beauty-companys-new-product/.

1. IvyPanda. "Paramount Health and Beauty Company's New Product." October 3, 2020. https://ivypanda.com/essays/paramount-health-and-beauty-companys-new-product/.


Bibliography


IvyPanda. "Paramount Health and Beauty Company's New Product." October 3, 2020. https://ivypanda.com/essays/paramount-health-and-beauty-companys-new-product/.

References

IvyPanda. 2020. "Paramount Health and Beauty Company's New Product." October 3, 2020. https://ivypanda.com/essays/paramount-health-and-beauty-companys-new-product/.

References

IvyPanda. (2020) 'Paramount Health and Beauty Company's New Product'. 3 October.

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