Problem Statement:
The problem facing the Paramount Beauty and Health Company is to draft a recommendation that will be tabled to the executive committee that will provide information on Clean Edge’s shaver positioning, the problem is to get a strategy that will be useful in marketing the new product of the organization.
Objectives:
There are various objectives that the firm has that are useful in the process. Paramount Beauty and Health Company should also consider the same,
Alternatives:
There are various alternatives that Paramount Beauty and Health Company may use for this problem to be solved and the marketing to hit off.
- Sell Clean Edge’s shaver directly to the consumers without any marketing, branding or advertising. This will ensure that the product flows with the market forces of demand and supply
- Perform a branding exercise were the company will do marketing, branding and ensure good positioning.
Consequences of Alternatives:
The first alternative will make Clean Edge’s shaver introduced in the market without hype or considerations. The product will use the forces of the market to determine the sales and returns.
The second alternative will require monetary investment as the product will be branded, advertised and well positioned to be a market leader upon release.
Tradeoffs / Analysis of Alternatives:
Recommendations:
It is recommended that the company undertakes the marketing alternative and does a market positioning and promotion. This will help boost the sales of Clean Edge’s shaver and give the product a name. The exercise may be expensive but it will reap more benefits for the company.
