Wednesday, March 2, 2011
Marketing Mix
The marketing mix consists of product, price, promotion and distribution. The product we will be selling is face wash. The price point we will need to follow is going to be competitive. We are going to promote it by selling sex and distribute it where we can catch the eye of men. Because of the economy, "consumers are talking about reassessing their favorite brands... if they think they can get a better value with the same price, " says a marketing consultant. (Armstrong & Kotler (2011)Marketing: An Introduction, 10th Ed. Prentice Hall Publishing, pg 221). We will promote through the web "A 30 second ad is a story we pull together for consumers on TV. Digital is an extension of that storytelling in a typically longer format"(Armstrong & Kotler (2011)Marketing: An Introduction, 10th Ed. Prentice Hall Publishing, page 377) We want our brand to stick out from the rest. “Nike’s latest masterstroke is social networking, online and off” (Armstrong & Kotler (2011)Marketing: An Introduction, 10th Ed. Prentice Hall Publishing, page 43) In order for us to maintain a competitive edge we will need to get online socially. We are going to have to prove to our customer that the value of our product is worth the price. We want to be able to say the same thing that a Trader Joe's captains says "People get hooked on something and they keep coming back for it. That's how it starts". (Armstrong & Kotler (2011)Marketing: An Introduction, 10th Ed. Prentice Hall Publishing, page 274). That will be the key to our facial wash to get men hooked onto washing their faces with our brand of face wash. We will need to take a similar approach to buying as Trader Joe's does, "We buy in huge quantities straight from our distributors, which cuts out the middle man and lets us offer the lowest possible prices" (Armstrong & Kotler (2011)Marketing: An Introduction, 10th Ed. Prentice Hall Publishing, pg 274). Our approach will be to find the cheapest ingredients to make our product as well as the cheapest way to distribute them. I feel to get our product started we can set a buy one get one free offer to men only. This may even encourage men to buy our face wash for their wives at the same time. I think our price point will be competitive at $4.99 for an 8oz bottle. We can blow competition such as Proactive away if we effectively show our customer that by washing your face on a daily basis with Clean & Clear face wash that they will never have a dirty face.
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