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Essay / Research Paper Abstract
This 5 page paper uses the 4 P’s model to develop a marketing plan for a new nail enamel (nail varnish). The paper considers the product, which is an environmentally friendly nail enamel, and the outlines how the product is developed for the market, along with the price, placement and promotion. The bibliography cites 6 sources.
Page Count:
6 pages (~225 words per page)
File: TS14_TEnailen.rtf
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Unformatted sample text from the term paper:
the example supplied by the student the case considers nail Enamel. There are many models that can be used, the 4 Ps of product, price, placement and promotion. These can
be used to determine position and also the way in which the product will compete and satisfy the target market. The Nail Enamel will be entering a very competitive
market, therefore, according to Porter, there is only one realistic option for the company to compete, as they are unlikely to gain a const advantage in the short term, that
is by differentiation (Mintzberg et al, 1998). However, with careful management cost advantage may also be gained in the longer term. The first aspect is the product. This needs to
be targeted at a market where there is room for a new product and a demand that is not being satisfied. The market could be that of the teenage and
under 25 years of age market, one where there is an increasing awareness of environmental issues and idealism is still a driving force in term of their purchasing divisions.
The teenage and under 25 market is a lucrative market with a high level of demand. However, there are also many opportunities within the market where there are individuals that
are also demanding environmentally sound products and are prepared to pay a premium price. The demand level here is lower, however the price may be set higher. The key differentiation
is the resech that had been conducted into developing an environmentally friendly natural product that is also good quality. The product will be aimed at the teenage market and
under 25s due to the lower barriers to uptake in this market. The more sophisticated the market the higher the barriers to entry in terms of customer perception (Kotler, 2000).
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