Deodorant is a unique item as it is considered a necessity in many developed nations. As such, the deodorant must posses a unique value proposition relative to other products in the industry. Promotion therefore is an integral aspect of any marketing campaign. Promotion allows for an often seamless and uninterrupted presentation of the product. It also provides a medium by which a company can deliver a specified message. Through promotion, the deodorant product can be better differentiated relative to its peers in the industry. In addition, promotion establishes a brand in which the target market may resonate with. If done properly, promotion provides a means of linking consumer needs with a product offering which is unique and differentiated.
In regards to promotion, the product must first cater to the designated target market. In addition, with the advent of technological solutions, the manner in which to engage with the customer has been altered. Aspects such as social media, mobile marketing, tablets, and other mediums have provided unique opportunity to promote to the target market. In addition, with the fragmentation of content and consumption, promotion must be decentralized and specific to the consumer. As such, our strategy to promote our product will incorporate all of the above mentioned aspects. Promotions on social media websites such as Facebook, Twitter, and other high traffic internet sites that are frequented by our target market. Our campaign will also engage the target market during periods that deodorant use is most frequent. Internet is very promising as individuals are using it more throughout their lives. Aspects such as education, leisure, and fun are all conducted online (Downs, 2012). Sporting events and social events provide a prime opportunity to market the product in a manner that can capture market share.
As with many new technologies introduced into society, new industry is created. This period is no different as the internet has given rise to international competition, as well as lower barriers to entry. Companies subsequently must deliver their products and services in a manner that leverages this new technological trend. With the advent of the internet consumers are purchasing goods and services online rather that in physical locations. Experts say it takes roughly 7 or 8 impression for an individual ad to be remembered. With a diversified promotional campaign, more impression will be made through word of mouth, television, and internet. This creates a more profound method of advertising which will result in better penetration rates. Using a varied approach, our deodorant brand will occupy a unique niche within the consumer mindset.
In addition to television it is also important to note that the shopping experience for the typical American has changed dramatically over the last few years. Due to economic circumstances plaguing both the global and domestic economy, shoppers are now more apprehensive about their purchasing behavior. Likewise, other economic circumstances such as the decreasing trend of the average Americans income are also contributing to the extreme bout of pessimism the nation is currently experiencing. It is no secret that the economy is not as robust as it once was, with unemployment around 8%. Many states such as Florida and Nevada are experiencing unemployment rates still near the 10% range. As such the pricing of the product must be appropriate. In these instances, the product will be prices in line with those of competitors. Through the use of promotion however, the establishment of a known and consistent brand will allows our product to stand out relative to others.
Over the past decade, earnings for the typical American have stagnated or in some instances decreased. As such, the price of the deodorant product must reflect the changing purchasing power of American citizens. Meanwhile, the average earnings of the wealthy have nearly quadrupled. As such, shoppers are attempting to save more money and are foregoing luxury purchases until they feel more secure in their finances. As such consumer spending is a good indicator of how well our deodorant product will sell. Discretionary income and spending all play a unique role in pricing the product (Consumer Spending, 2011). American shoppers are fearful for their future. Therefore price is will have a very important impact on their purchasing decision. As such, their shopping behaviors indicate the extreme bouts of pessimism within the overall economy today. Shopper’s behavior changes almost exclusively due to the prevailing economic uncertainties of the time. This is indicated by the cyclical nature of the retail. During periods of mass euphoria, individuals purchase more goods and services and the economy therefore continues its upward trend. Many shoppers during these periods are not worried about short-term economic uncertainties as their jobs are believed to be secure and the economy is going smoothly. As such, many individuals purchase products they might not have otherwise purchased during periods of euphoria. These products almost inevitably include luxury clothes, bigger vehicles, electronics and other convenience items that improve the overall quality of life for that particular person. However, during periods of extreme pessimism, as is the case now, shoppers tend to trade down and purchase only necessities. These necessities are often purchased on the basis of price. Therefore, our product will be price in line with other deodorant competitors. Our price range will vary from $3.46-$5.31 which the average of the medium to high end deodorant brands currently in the market.
References
1) “Consumer Spending.” Federal Reserve. Web. 05 Dec. 2011. <2) http://www.federalreserve.gov/releases/G19/Current/>.
2) Downs, Stephen. “E-learning 2.0.” Elearn Magazine:. Oct. 2005. Web. 30 Mar. 2012. .
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