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Arimount is developing a new long-lasting deodorant called Extralast to increase market share and profits. Marketing research is needed to understand target customers and get feedback on the new product. Qualitative research will be most useful, involving interviews with potential customers to understand perceptions, expectations, and opinions on Extralast and Arimount's services. Secondary research will also provide context on the hygiene industry and competitors.
Arimount is developing a new long-lasting deodorant called Extralast to increase market share and profits. Marketing research is needed to understand target customers and get feedback on the new product. Qualitative research will be most useful, involving interviews with potential customers to understand perceptions, expectations, and opinions on Extralast and Arimount's services. Secondary research will also provide context on the hygiene industry and competitors.
Arimount is developing a new long-lasting deodorant called Extralast to increase market share and profits. Marketing research is needed to understand target customers and get feedback on the new product. Qualitative research will be most useful, involving interviews with potential customers to understand perceptions, expectations, and opinions on Extralast and Arimount's services. Secondary research will also provide context on the hygiene industry and competitors.
Executive summary Arimount is a well established beauty and grooming company. Arimount has been operating in the hygiene market for 20 years now. As far as the financials are concerned the company has a track record of an average return on investment. Arimount is currently developing a new deodorant product using a new chemical that will allow the deodorant to work for up to five days even after showering. This product has been named Arimount Extralast deodorant. The objective of launching this new innovative product is to maximize the market share of the company and increase profits. 1. Situational analysis 1.1 SWOT Analysis In-depth insight and extended knowledge of hygiene industry, experienced research and development department and a well networked existing distribution channels are the strengths of Arimount. The weaknesses of Arimount include the reliance of the company on debt capital. Opportunities include being a part of the growing hygiene industry and gaining cost effectiveness through economy of scale. Threats for Arimount include competition from existing players in this market and studies that discuss the negitive side effects of the chemicals on the skin and to the environment. 1.2 Competition The three primary competitors of Arimount Extralast deodorant are Klima Antiperspirant, Adidas Absorbent-Deo Wetness Control and Secret Clinical Strength Deodorant. Europe based Klima antiperspirant is an extremely effective deodorant in spray form. The website of Klima antiperspirant claims that applying the deodorant keeps the underarms free from wetness for up to 5 days. It is sold online and priced at $24.95. Adidas Absorbent-Deo Wetness Control is aluminum free and most athletic women swear by this product. It is priced high for $38.95. Secret Clinical Strength Deodorant is one of the best-selling brands in the market. It is easily available at local stores and low priced for around $8.00. Many women claim that it is the only deodorant that works (Lets get clinical, n.d). 2. Marketing strategy 3
Arimount already has an established company in the hygiene industry and have good knowledge about the company and the customers. In creating its marketing strategy the company can leverage this knowledge thereby serving and communicating with the target customer better. 2.1 Segmentation Geographics: Arimount Extralast deodorant will have no specific geographical area as target. It would be sold both in the domestic and international markets. Demographics: The target customers of the product will be primarily women from all races in the age range from 15 45 years old who are highly active in sports and excersise programs and sweat a lot. They will belong to middle class to upper middle class segment of society. Behavior Factors: The target customer segment has highly active lifestyle, involved in sports and other physical activities and spend good amount of money on personal care products. 2.2 Product Offering Arimount Extralast deodorant is a new deodorant composed of a new chemical that will allow the deodorant to work for up to five days even after showering. 2.3 Positioning Arimount Extralast deodorant will be positioned as a personal care and essential hygiene product for women who sweat a lot including sports women, working women and other women who have an active lifestyle. 2.4 Marketing Program The marketing program for Arimount Extralast deodorant comprises of pricing, distribution and promotion strategy. Pricing is decided based on a per-product retail price. Distribution of the product would be through its existing distribution channels and internet. Different advertising strategies would be used for promotion of the product. 3. Financials Arimount Extralast deodorant would be priced at $20. Assuming that the average per-unit revenue $10.00, average per-unit variable cost $6.00 and estimated monthly fixed cost is $ 4.00, 4
the required volume of monthly sales to reach the break even is $ 6000. Sales forecast would be done conservatively. The advertising expenses of the company will account for 30 40 percent of the variable expenses of theproduct.
4. Controls The objective of the marketing strategy is to help the company increase its market share. The aspects that require constant monitoring include monthly and annual revenues, monthly and annual expenses and development of new variants of the product. The control parameters should be measured in terms of budget and time. A contingency plan should be in place in order to mitigate the risks including difficulties in sustenance of the product and liquidation.
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References Klima underarm antiperspirant / deodorant. (n.d). Retrieved 20 September 2012 from http://www.klimadeodorant.com/klima-underarm-antiperspirant- deodorant.html?&cat=257 Lets get clinical. (n.d). Retrieved 20 September 2012 from http://www.secret.com/clinical- strength-deodorant
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UNIT II Marketing Plan Assigment MBA 5501 Advanced Marketing By Markie Hinson
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Question #1: Describe what type of marketing research your company will need to use in order to support its marketing strategy. Create a list of questions or isssues that your company will need to settle using marketing research. Research Design The research design is focused on qualitative research more than quantitative as the human aspects and emotions become more important to be analysed and to understand new strategies that need to be implemented in this particular current scenario. Although data and absolute values are more known for producing a reliable study and most of the time accpeted by research journals but also important here are human subjects involvement which inks out importance over quantitative study. The study area will be exploration of the target audience and receiving their feedback rather than filling the set of questions for survey. The study will be more of receiving feedback form the test group rather than forcing a question upon them. Research Approach: The essence of this section is to determine both the means of conducting the research and the methods used. As identified by Collis and Hussey (2003) research approach this could be seen as a master plan specifying the methods and procedures of which the researcher will use to guide and focus his research. Emphasizing on this Saunders et al (2007) noted that the essentiality of research approach could be deduced from what takes place within its context. This is because that within such scenarios the researcher is concerned with choosing the approach that would be more pertinent in sieving out data that will be the most benefit in answering the research questions. However, evidence from literature makes it possible to suggest that there are 3
two types of research approach: quantitative approach otherwise known as deductive approach and qualitative approach, also referred to as inductive approach (Bryman 2001; Collis and Hussey 2003; J ankowicz 2005; Saunders et al 2007). As noted by Saunders et al (2007) the deductive approach owes much to what one may think of as scientific research, while the inductive approach is oriented towards gaining an understanding of the meanings humans attach to events as well as the research context. Consequently, considering the above stated points, the researcher adopted the qualitative method otherwise referred to as inductive, mainly due to the fact that it is not only an approach where data would be collected and theories developed as a result of analyzing the data that was collected, but also it is an approach that begins with specific observation and then builds towards general patterns (Silverman 1993). In the context of the research therefore, it entailed collecting data by interviewing a sample of potential customers of hygiene market in the market where Arimount will operate as well as some people from the host communities so as to comprehend their perceptions and expectations of the company towards different services of that will be provided by the company. Data collection: Collection of data is an important part of research and as rightly envisaged by many scholars as the technique is used in the course of collecting the data and is very much the fundamental in the research process (Bryman 2001; Saunders et al 2007). Found in researching this topic there are two main types of data of which the researcher has appropriately configured as means of collecting his data: primary and secondary data (Saunders et al 2007). While primary data refers to those data collected for the specific purpose of the research project being 4
undertaken, secondary data stands for data collected for other purposes like published summaries and through other means such as books, journals, scholarly articles, news papers, company documents, internet, e-journals and data base among others (Bryman 2001; Saunders et al 2007). Interview: Interviews are one of the methods used in collecting qualitative data. The process consists of a purposeful discussion involving two or more people. This process as rightly stated by Saunders et al (2007) can assist in gathering valid data and can be structured, semi-structured or unstructured. While structured interviews make use of questionnaires that are predetermined, that of semi-structures and in-depth interview is informal. It is important to note that the unstructured interview of which this research will be adopting has the capability of allowing the researcher to explore as much as possible his areas of interest. In addition to the fact that interviews can be conducted on one to one or one versus many bases, it can also be carried through telephone (Bryman 2001). The importance of this approach to the research understudy is that it will offer the researcher the freedom to move into any area of interest. Questionnaire: Questionnaires are one of the techniques used in collecting data. In research literature there seems to be varied opinions as it relates to its definition. Generally speaking it includes all those data collection techniques in which each person is asked to provide an answer to the same set of question in a determined manner (Saunders et al 2007). Questionnaires could be structured, semi-structured or unstructured (Bryman 2001; Bryman and Bell 2007). However, the research adopted the unstructured questionnaires approach. The choice of this particular approach is based 5
on the researchers insight of the merits it will provide in investigating the issue under examination. List of questions: Some of the questions that will help in analyzing the need of the customers are: What kind of fragrance of the deodrant most in liked by the customers? What is the approximate price range in which you will prefer Airmount deodrant What are the places where you frquently buy deodrants What kind of packaging is most preferred by you
Question#2: Describe how your company will examine customer satisfaction, and what will youdo to create customer loyalty? Arimount has to satisfy its customers by providing them services which meet their expectations or are above minimum performance expectation, this will not only lead to the customer satisfaction but will leave customer delighted. Once a customer is delighted Arimount through the word of mouth. Relationship of expectation and satisfaction Level of Expectation Perceived performance relative to expectation Below minimum desired performance Above minimum desired performance More than expected Satisfaction Satisfaction / Commitment 6
Same as expected Non Satisfaction Satisfaction Worse than expected Dissatisfaction Dissatisfaction
Arimount has to focus on generating high customer loyalty by delivering high customer value by designing superior value proposition backed by superior value delivery system. Arimount success depends on the way it creates and deliver the value which is superior than its competitors, which is develops following capabilities : Understanding customer value Creating customer value Delivering customer value Capturing customer value Sustaining customer value Arimount will focus in making their customers their True Friends i.e. it will build right relationships with the right customers. A strong focus will be made by the company to provide the product that will provide the most value more than the value that is paid by the consumers, it will fulfill all the expectations of the consumers for that product. With a higher perceived value the customers will be able to attain satisfaction. Arimount should also focus on being the customer centric firm which seeks to create high customer satisfaction. The company needs to focus on selling at low price and providing differentiated product to the consumers. The company can measure the customer satisfaction through the customer retention. For this the company needs to focus on periodic survey which will help in analysing the customer satisfaction and loyalty. 7
References Bryman A (2001). Social Research Methods, New York: Oxford University Press Bryman A and Burgess R (2004). Analyzing Qualitative Data, New York: Routledge Bryman A and Bell E (2007). Business Research Methods, New York: Oxford University Press Collis J and Hussey R (2003). Business Research: A Practical Guide for Undergraduate and Postgraduate Students, 2 nd edn, Basingstoke: Palgrave Macmillan Saunders M, Lewis P and Thornhill A (2007). Research Methods for Business Studies, 4 th edn, Harlow: Pearson Education Silverman D (2000). Interpreting Qualitative Research, London: Sage: 60-144
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MBA 5501 Marketing Plan Part 3 By Markie Hinson
MBA 5501 UNIT III
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Question#1 To what segments will Arimount market to and what variables should be use in this segmentation? Market segmentation refers to grouping of prospective buyers to strategize marketing activities by understanding buyers behavior and customer trends to ensure that products or services are aimed towards right set of customers. (Crittenden et.al. 2002) Segmentation of consumer markets for Arimount are done primarily on the basis of the variables - geographic, demographic, psychographic and behavioral. These variables are explained as below. Geographics: Geographic segmentation is done based on the location of the customer for e.g. country, state, cities, and neighborhood. Arimount Extralast deodorant will have no specific geographical area as target. It would be sold both in the domestic and international markets. It can focus more to the tropical countries where due to hot and humid climate people perspire a lot. Demographics: Demographics is the segmentation of customers based on their age, gender, nationality, family life cycle, education, occupation and socio-cultural aspects that influence buyers behavior (Clancy & Kieff 2004). The target customers of Arimount Extralast deodorant will be primarily women from all ethnicity, race and culture in the age range from 15 45 years old who are highly active in sports, excersise programs, other physical activities, or working women and sweat a lot. They will belong to middle class to upper middle class segment of society. Psychographic: Psychographic factors refer to the values, beliefs, personality, interests and lifestyle of customers that influence buying behavior of customer segment (Crittenden et.al. 3
2002). The target customer segment of Arimount Extralast deodorant would have highly active lifestyle, involved in sports and other physical activities and is conscious about their hygiene and grooming. They would believe in having a pleasant personality and image building. Behavior Factors: Behavioral factors refer to the observable patterns of behavior in consumption of products, e.g, frequency of consumption, readiness to buy. The customers will buy deodorant continuously on a regular basis. A customer satisfied with using Arimount Extralast deodorant would indulge in repeat purchase behavior and become loyal to the brand. The target customer segment will be spending good amount of money on personal care products and willing to buy Arimount Extralast deodorant.
Question #2 Discuss the way Arimount will address customer buying decision process. The customer buying decision making process involves the following stages problem recognition, information search, evaluation of alternatives, purchase decision, purchase and post purchase evaluation (Kotler & Keller, 2011). To address the customer buying decision process it is important to understand the address customer buying decision process. The process is explained as below. Stage 1: Problem recognition: In this stage the customer identifies his needs that are unsatisfied and to satisfy those he makes the purchase. When a customer has an active lifestyle, she feels that she sweats as lot and smells unpleasant. This creates the need to buy a deodorant. The communication strategy of Arimount should aim at making the customer aware of the problem that needs to be addressed. Arimount advertisements can reflect some embarrassing 4
incidents happening to a woman due to heavy perspiration and necessitates her to find a deodorant (read Arimount) that will address the problem and result in pleasurable situations. Stage 2: Information search: In this stage the customer searches for information on the product that will satisfy his needs. For purchasing a deodorant, the prospective customer would search for information from commercials and advertisements on television, newspaper, magazines, and outdoor hoardings. So Arimount can place advertisements in these media to reach the customer and be a part of the choice set for the customer. Stage 3: Evaluation of alternatives: In this stage customer evaluates the products depending on certain criteria like product quality, price, performance, packaging, smell and whether it matches with their personality. She also finds some reviews about Arimount Extralast deodorant. Arimount is moderately priced, high quality and is bottled in an easy to carry bottle. Its branding and positioning should reflect an image that identifies with personality of sports women and working women. Stage 4: Purchase decision: This stage involves choosing the buying alternatives in terms of mode of payment and availability of the product. Arimount is well established in beauty and grooming industry. So it already has a well networked distribution channel in place. Distribution of the deodorant would be through its existing distribution channels and internet. Stage 5: Purchase: In this stage, the customer makes the final choice and actually buys the product. This may be different from the purchase decision made due to factors like unavailability and product being out of stock. To ensure that the purchase decision converts into actual purchase Arimount has to ensure the availability of the product. 5
Stage 6: Post purchase evaluation: The post purchase evaluation of a customer may be positive or negative depending upon the feedback about the product. To ensure that the post purchase behavior of the customer is positive, it needs to develop its marketing communication and advertisements that will reflect testimonials from real women who have used the products.
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Reference Clancy, KJ & Kieff, J 2004, Listen and learn: industry commodization is a wake-up call to start listening to customers, Marketing Management, J ulyAugust. Crittenden, VL, Crittenden, WF & Muzyka, DF 2002, Segmenting the business-to-business marketplace by product attributes and the decision process, Journal of Strategic Marketing. Kotler, P & Keller, K 2011, Marketing Management, 14 th ed, Prentice Hall.
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UNIT IV Marketing Plan Assigment MBA 5501 Advanced Marketing By Markie Hinson
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Question #1 Discuss what brand elements would be most useful for differentiating Arimount brand from competing brands? According to Philip Kotler (renowned management Guru), brand elements can be defined as the devices that can help in identifying and differentiating a brand from the others. Arimounts planned product with long lasting fragrance (five continous days even after shower) makes it a standout product in the market. In order to differentiate Arimount from other competitive brands following brand elements (besides the brand name) must be considered logo, tagline, Packaging and advertisment pictures, URL/web address and finally persons associated with the product. Logos can be key differentiators that help identifying a brand from the others. For example: Nikes swoosh helps in differentiate the products of Nikes from the other available brands. Thus a logo is very essential for Arimount, and should signify its products feature. The tagline or jingle or catchphrase: Tagline helps in summarizing the value proposition. It summarizes and gives the customer a clear idea about the product and its benefits. Thus Arizones tagline should clearly highlight its best attributes such as USP i.e. long lasting performance. Packaging and advertising pictures also plays an equally important role in differentiating a brand from the others. For instance: the green bottle is associated with the Heineken Beer, while dynamic ribbon is associated with the Coca-cola brand. Thus it is highly essential that Arimount has a differentiating and attracting packaging (with attractive aesthetics) which could help in building brand equity for it. Since it is targeting the women who are highly active, it should make use of the pink color and slim packaging which can make it easier for them to be stored and carried. Also their URL/web address is a top priority generally before buying a new product, customers often research it over the web. Thus it is 3
very essential that the URL or web address of the company is kept as simple as possible. Finally, persons associated with the brand helps in enhancing the brand personality and build a relationship with the customers. The character can either be human or other real life characteristics. For example: McDonalds Ronald or Kelloggs Bear
Question #2 In a sentence or two, what is the appropriate positioning for Arimount? Brand positioning is the manner in which a brand is perceived in context to the competitors. Arimounts product is a long lasting deodorant (lasts five days even after showering) which is highly suited for those people who have a very active lifestyle (in general sports person or working population). Further, according to various researches women sweat more than men, and are comparatively more hygiene conscious. Therfore this product is highly suited for women who have an active lifestyle. Thus the product must be positioned as a hygiene and personal care product for women with active lifestyle. Question #3 What factors will you use to determine Arimount's strategic group, and what competitive strategy would be most effective as your company introduces this new project? Strategic group a strategic management concept can be defined as the grouping of companies within an industry having similar business models or combinations of strategies. Following are the key factors that will aid in determining Arimounts strategic group: Cost position Price policy Product quality 4
Channel selection Brand identification Specialization Technological leadership Michael Porter(2009) defines competitive strategy as the manner in which a company can gain competitive advantage over its peers. Arimount should employ the following 4 major and essential competitive strategies: 1. Intellectual property: The distinguishing factor of Arimounts product and the competitors is the unique chemical used by Arimount. The company was able to determine the chemical composition after conducting proper R&D activities which involved significant costs. Thus the company should patent its product, so that none of the other competitors in the market are able to replicate its product. In this way Arimount will be able to stay ahead of the competition. 2. Distribution channel: Key to the success of personal care products is effective use of distribution channels. Thus Arimount should focus on building a robust distribution network which can make its product readily available to the customers. Further Arimount should enter into long term contracts with the retailers, who can also contribute to their success. This is very essential for penetrating into the market and increasing the market share. 3. Constant innovation: Though the new product is a breakthrough product, the company should constantly focus on introducing new and innovative products in the market. This is the best way of winning customers, and ensuring that the customer attrition is kept at lower levels. Thus Arimount should constantly look at product improvements, and adding new products to its portfolio which can be differentiated via odour or additional features. While Arimounts competitors work on imitating its current products features, Arimount will be able to introduce new products in the market thus 5
staying ahead of the competition. And finally 4. Operational excellence: In addition to the above, Arimount should also look forward to lowering its cost by employing various quality control tools in place. This will help the company in increasing its margin, and lowering its prices as of when required to stay ahead of the competition.
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References Klima underarm antiperspirant / deodorant. (n.d). Retrieved 20 September 2012 from http://www.klimadeodorant.com/klima-underarm-antiperspirant- deodorant.html?&cat=257 Lets get clinical. (n.d). Retrieved 20 September 2012 from http://www.secret.com/clinical- strength-deodorant Clancy, KJ & Kieff, J 2004, Listen and learn: industry commodization is a wake-up call to start listening to customers, Marketing Management, J ulyAugust. Crittenden, VL, Crittenden, WF & Muzyka, DF 2002, Segmenting the business-to-business marketplace by product attributes and the decision process, Journal of Strategic Marketing. Kotler, P & Keller, K 2011, Marketing Management, 14 th ed, Prentice Hall. Bryman A (2001). Social Research Methods, New York: Oxford University Press Bryman A and Burgess R (2004). Analyzing Qualitative Data, New York: Routledge Bryman A and Bell E (2007). Business Research Methods, New York: Oxford University Press Saunders M, Lewis P and Thornhill A (2007). Research Methods for Business Studies, 4 th edn, Harlow: Pearson Education Silverman D (2000). Interpreting Qualitative Research, London: Sage: 60-144
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UNIT V Marketing Plan Assigment MBA 5501 Advanced Marketing By Markie Hinson
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Question1 Describe how Arimount will address the five product levels: core benefit, basic product, expected product, augmented product and potential product. Consumers will select a product on the basis of their perceived value. Satisfaction is the level to which the actual utilization of a product matches up with the perceived value during the purchase. Kotler (1997) stated five levels to a product namely; core benefit, basic product, expected product, augmented product and potential product. Arimount will address core benefit, basic product, expected product, augmented prduct and potential product as follows;
For the core benefit the fundamental want or need that the customers satisfy by using the service or product or service. Arimount is a well-established grooming and beauty product , so the core benefits associated with Arimount Extralast deodorant would be unique freshness and fragrance. Marketers should view themselves as the benefit providers.
Generic Product is A version of the product having just those features or characteristics those are absolutely essential for it to function. At this level, the marketer needs to to turn the core benefit to a basic product. Thus, Extralast deodorant must include ingredients that give good fragrance and lasting freshness. The Expected Product is the set of features that the buyers generally expect when they buy a product. The buyers expect all products to be clinically safe and effective when used. The buyers also expect all the products to have the ingredients, manufacturing date and expiry date mentioned on the product. The augmented product includes inclusion of extra features, advantages, features or associated services which serve to set apart the product from the competitors. For instance, offering products made from natural ingredients or running offers like product combos which are comparatively cheaper than price of products bought individually. Offering different fragrances under same brand name. The Potential product includes all the transformations and augmentations a product might go through in future. For instance, Arizona can think of adding some new ingredients to the products or replacing the existing ones to enhance products effectiveness and use. The company can even think of launching some new fragrance under same brand name.
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Question2 Discuss the primary pricing objective for your Arimount and what are some of the implications of your pricing decisions. Pricing objectives are the goals which describe what an organization wishes to attain by way of pricing. Pricing objectives need to be stated clearly and statement should take in the time frame for attaining them (Narayandas et. al., 2000). There exist six levels of setting prices formulating pricing objective, evaluating the target market's assessment of price, assessing competitors' prices, selecting a grounds for pricing, choosing a pricing approach and deciding a particular price. Moreover, pricing goals or objectives offer direction to the overall pricing procedure. Deciding what the companys objectives are is the foremost step of pricing. At the time of deciding the pricing objectives the company must consider the overall, marketing, financial and strategic goals of the organization; the objectives of the brand or product, customer price elasticity and available resources (Narayandas et. al., 2000). Moving ahead, the primary pricing objective for the Arimount Extralast deodorant would be to ensure that the price is set at reasonable level and can be easily afforded by the customers. The company must make sure that the prices are set keeping in mind the prices of the similar products available in the market and offered by the competitors. Other pricing objectives would be maximizing profit, enhance sales volume, increment market share, company growth, maintaining price leadership, discourage new entrants, maintain the loyalty, enhance firm or products image and viewed as fair by the buyers and potential buyers. Further, there can be several implications associated with the pricing decision of this product including the introduction of a similar product by a competitor at a comparatively lower price, changes in the cost of raw material, changes in the price incurred to produce the product and profit levels and changes in the demand of the product.
Question3 Explain what type of packaging and labelling you will use to support your brand image. The answers are in relation to company and product discussed in the attached reference. Packaging is normally related to the satisfaction of product and labelling is usually with the information transmission (Silayoi and Speece, 2007). Both of them form an important part in product marketing. Far from only providing protection to the product, labelling and packaging considerably admit marketing feature which decides the success of a business. Product 4
packaging must be attractive enough to hold and attract the attention of customers and work as a functional and effective shipping container (Silayoi and Speece, 2007). At the same time the product should also be eye-catching and easy and simple to retain labelling. Product labelling should be done in way that it effectively conveys the function performed by the product. The continuing sections now highlight some of the aspects of product packaging and labelling with respect to Arimount Extralast deodorant.
Attraction For product marketing, the most vital aspect is the overall appearance of the product. Eye- catching design and colour of the product could draw customers and encourage them to buy it. This is because of the reason that its normal perception of customers that product appearing beautiful is a good one. Both labeling and packaging of the Extralast deodorant must be attractive and of high standard. As the name suggests the company can use striking colors like blue, green etc that denote freshness.
Usability The packaging should be easy for the consumers to carry and hold. Good packaging also aids the user to use the product as per their needs. Arizona can go for offering its extralast deodorant in different sizes and packages. Customers using the product for the first generally prefer small packages. Getting range in packaging of same product provides ease of selecting the most suitable one. Quality of printing In case if the label isnt properly readable, customers might not show their keenness to purchase them. Arizona must make sure that the product labeling has texts with sharp edges and should be easily readable. Besides text, logo image or design is another element that performs a chief part in marketing. The product should clearly state its ingredients and other important information. Further, labels quality printing and the product package decides the overall impact of the brand on customers. 5
References: Kotler, P. (1997) Marketing Management (11 th ed.), Upper Saddle River, NJ : Prentice Hall International. Narayandas, D., Quelch, J . and Swartz, G. (2000) Prepare Your Company for Global Pricing, Sloan Management Review, Vol. 3, pp. 61-70. Silayoi, P. and Speece, M. (2007) The importance of packaging attributes: a conjoint analysis approach, European Journal of Marketing, Vol. 41, No. 11/12, pp.1495 151.