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Launching a product into a new market is often challenged with a mixed reaction from potential customers. Often, early adopters form only the narrow apex of market segment triangle consisting of competition, divergent preference, and different lifestyle controlled by a customer’s purchasing power.
Therefore, before an entry bid into a new market, several preset conditions must be fulfilled from recommendations of a researched sales projections and market behavior.
As a matter of fact, success of a product launched in a new market will be determined by the management decision rationale, market segmentation, pricing, existence of competitors, buying motives, magnitude of risk, and uniqueness of the said product.
Beauty industry has been experiencing constant metamorphosis. Reflectively, new products and modifications on old products are the order of the day as businesses across the globe attempt to cut and maintain a niche in the crowded market.
Management science is critical in modeling and transforming a blue print of ideas into a reality. Management involves research, design, production, sales, and efficiency as means of maximizing profits. As a matter of fact, a successful management team should be put in place especially in marketing, logistics, and follow up to determine success and sustainability in the volatile fragrance market characterized by pop culture and celebrity endorsement.
Therefore, the management team for Tunner spar spray will consist of the marketing manager, logistics personnel. The marketing manager has the responsibility of monitoring progress, managing risk, and studying consumer behavior. Periodic finding will be important in product modification and packaging to meet demands of customers in the highly volatile Germany.
In product market, our life style defines the activities we are involved in, beliefs, opinion, health aspect, and interests. As defined in the “Activities, Interest, and Opinion”, life style directly dictates purchasing behavior and preference. Germany population consists of many literate women who have continued to be more conscious of health matters and beauty.
Specifically, the cosmopolitan Deutschland city has a comfortable percentage of high market women who have fully embraced beauty and natural attractiveness. Besides, they tend to associate with sophistication and have money to spend. The middle and high social classes women are the key target this product. This groups are heavy spenders in beauty products especially those that promise unique aspects and have unique features.
As the issue of need for safety and prevention of cancerous infection penetrate beauty industry, German women have increasingly grown shy from synthetic cosmetics and prefer natural products. The target group has a peculiar buying motive for beauty product. The main reason for purchase of beauty products is to try the best possible (Longenecker, Petty, Palich and Moore, 2009, p.34).
Besides, a good percentage of sales are generated by referrals from satisfied customers. Beauty products are bought for use in skin care and protection form harsh climatic conditions.
Success of a product launched in a new market will be determined by the management decision rationale, market segmentation, pricing, existence of competitors, buying motives, magnitude of risk, and uniqueness of the said product. Beauty industry has been experiencing constant metamorphosis across the globe.
Sweet Tuner spray is a beauty product that gives clients a glowing natural skin texture. This product is developed from assorted rich Ecocert DHA elements and fragrances with active tanning ingredients. At 8.45%, this product is the best among others for that rich olive tone and golden glowing skin.
Through selective research about the potential customers that can access other beauty products in this class, and by eavesdropping on the celebrity preference talks, the resultant product is tailored and encrypted with a personal tag of quality and affordability (Butterworth-Heinemann Byrnes, 2009, p.13).
The fragrance is quite resilient and can withstand harsh sunny environment. Besides, it also has a portable stylish container bottle and some variants offer multiple customized properties thus making it easier to apply, doing away with the need for constant application as common with other products with limited adjustments flexibility.
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This product has minimal effect on nearly all types of skin and has received approval from the pharmaceutical organization of Germany as having a clean bill of health. All different variety of this product emits a unique identifier fragrance regardless of the type.
Most of potential clients seem to suggest that this product is the best invention in the beauty industry (Laudon and Laudon, 2007, p.45). Besides its unique package and affordable price tag, this 200ml bottle of skin turner offers quality against money considering the fact that it retails at $5 while most of other products in the same class trade for a higher value. Also, the product comes in different fragrance to fit different occasions and customer preference.
Market Launch Risk
Beauty industry majorly functions on product identity and class affiliation. As a matter of fact, some beauty products have penetrated the market and have worn several customers who often identify themselves with these products (Zahra and George, 2002, p.23).
Women in Germany observe strong cultural practices that at times contrast modern perception of beauty and pharmaceutical usage. They believe in traditional beauty products that have been tried and approved by many users. In Munich, there are many natural and herbal therapeutic beauty agents who discretely offer the alternative beauty skin care. In a hybrid between the traditional and modern beauty, German women try several alternatives.
Adoption of a beauty product mainly depends on a recommendation by a relative or friend. Potential customers often source for traditional or household beauty products in this class from neighborhood stores. Then, they turn to the traditional beauty experts and market for further recommendations. If the find a positive response, their trust is worn otherwise they proceed to mainstream pharmacy to buy over-the-counter skin care medication as suggested to by friends (Erricos and Cristian, 2007, p.46).
This trend present a real challenge in the launch of this product since the first impression and convincing traditional beauticians may prove difficult. Besides, existing products have cult like following and change might be resisted. In addition, the opportunity cost of balancing the target and actual accomplishment is directly associated with success of the launch. Cultural competency is necessary to for success of this skin product.
In many cases, acceptability depends on perception of the targeted consumers. While well intentioned, this scenario erects more barriers to communication. Firstly, due to generational gap, an adult does not readily share all their intimate discomforts with a product like young generation does ( Maness and Zietlow, 2005,p.67).
Secondly, distortion of context can occur for concepts are culture-specific. Culturally, German communities are very social sharing household with multigenerational variance (Baskerville, 2004,p.17). Therefore, a mere approval might not necessarily translate into sales and success.
Baskerville, R 2004, International e-business marketing, Alabama: Cengage Learning EMEA.
Butterworth-Heinemann Byrnes 2009, Management and the Arts, 4th edn, Focal Press.
Erricos, J. and Cristian, G 2007, Optimisation, econometric and financial analysis, London: Springer-Verlag.
Laudon, K., & Laudon, J. P 2007, “Using internet tools to increase efficiency and productivity”, Essentials of Management Information System, vol 8, pp. 300-410.
Longenecker, G. J., Petty J W., Palich E. L. and Moore, W 2009, Small Business Management: Launching and Growing Entrepreneurial Ventures, USA: Cengage Learning.
Maness, T., and Zietlow, J 2005, Short-term financial management, New York: Thomson Learning.
Zahra, S., and George, G (2002), International Entrepreneurship: The current status of the Field and Future Research Agenda in Strategic Entrepreneurship creating a new mindset, Oxford Uk: Blackwell Publishing.