Marketing Case
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Discuss the type of product the company will offer and identify its primary characteristics. Natural Essence line will offer a wide variety of hair and skin care products that are natural, safe and extremely effective. The Natural Essence product is considered a tangible good rather than a service or intangible in nature. The first product in the Natural Essence line that the company plans to market is the Natural Essence Shampoo and Conditioner. This product is the companys most natural product, free of sulfate and other harmful products found in all hair care products on the market today. Natural Essence products are designed to offer a luxurious and invigorating experience each time you use it without compromising your health.
Natural Essence Shampoos and Conditioners are very much effective. Unlike other products, it provides hair with a soft and manageable feeling while keeping you protected from harsh chemicals. This product is safe enough for the use of a small child, but effective enough to provide you the cleanest feeling after a gym workout. This product is targeted for the entire family. More important in this day and time, its affordable. So buying it for the entire family will not strain the family income.
Discuss the product branding strategy. The branding of a product is probably the most difficult, yet most critical aspect of marketing a product (about.com, 2011). “Successful branding also creates “brand equity” – the amount of money that customers are willing to pay just because its your brand (Marketing m.o., 2010).” For Natural Essence, accurately branding the product will helps to convey important facts about the product. It will also help to show the quality of the product, which will reduce the risk to the customer, which ultimately will make the decision to purchase the Natural Essence brand easier (Iacobucci, 2010). In branding this product, Natural Essence will look to market the product, not only as a new product but as a way new way of life. Natural Essence plans to promote along with its effectiveness, a healthier way of life on a whole. In order to provide a strong financial outcome for the companys overall earnings, Natural Essence plans to utilize the Umbrella branding strategy. Natural Essence first product will use the brand name of Natural Essence. All products to follow will also carry Natural Essence name as the company expands into other hair and skin care products.
The Natural Essence brand will look to portray the image of purity that is effectively simply and safe. The Natural Essence Company plans to advertise in practical family settings, such as on family oriented television stations, websites and magazines. Salons, located in department stores geared toward the family will also advertise, promote and carry the Natural Essence product. The Natural Essence branding strategy will look to display a marketing plan that will make what the Natural Essence lines does and how the company does it very well know to its consumers. In doing so, it is projected that the Natural Essence Company will be set up as a company that leads in its industry within the next year.
An additional part of the branding strategy for Natural