Utility, Elasticity, and Demand – New Shampoo Campaign

Ultimate Goal of the Product Campaign for the New Shampoo

Marketing is the major strategy employed to promote sales of a product in different markets. The main goal of performing product campaign for the new shampoo is to create product awareness and to increase its penetration in the market. Shampoo in this case is a new product whose existence has never been heard by consumers before. Therefore, the main goal for this campaign is to make the product known by consumers as one of the shampoo products in the market. The campaign also focuses on enhancing the product penetrate in the market. However, the ultimate goal of product campaign is to increase the volume of sales. This can only be achieved after achieving the product awareness and enhancing its penetration in the market (Kaput, 2015).

Techniques to be employed to achieve this Goal

Product awareness can be promoted by employing diverse marketing techniques. The selection of the marketing technique will depend on the targeted market and the means that are more accessible to the consumer. One way to promote product awareness is by use of traditional advertisement media which include celebrity endorsement, television ads, radio announcements, magazines, newspapers, and banners.  It can also be done using modern forms of advertisements that include internet ads, use of social media, emails, and telemarketing among others. Promotion can also be used to enhance product awareness. This can be done by offering the product for free after one purchase a certain amount of other company’s product in retail shops (Bueno & Jeffrey, 2014).

Component of Marketing, Pricing and Distribution

Product penetration can be enhanced by employing pricing strategy, with the best mechanism being reducing the cost of the product below its competitive products to encourage consumers to buy it. To ensure that the product is preferred by first consumers, the company must ensure the product is of high quality and that the quality of the product is consistent. This will eventually result into winning customers trust and thus, increasing the product sales by maintaining the initial customers and getting new customers through referral. The company should also enhance product distribution by ensuring that the product is available in the most famous retail stores and also in all other retail stores where awareness has been created. The product should be distributed in different quantities to eliminate any form of discrimination and to give customers of all kid the ability to purchase the product in the quantity they prefer.

Component Utility, Price Elasticity, and Demand

Pricing strategy has been selected as the best technique to allow product penetration in the market. It is expected that decrease in the product price will increase the demand of the product and thus, increasing the use of the product among the targeted consumers. This is a strategy employed to enhance the product competitiveness in the market. The product utility will be evaluated based on the continuous sales of the product. If the product sales volume continues to increase, then, this is an indication that the consumers’ satisfaction after using the product is high. This can be ensured by maintaining a high level of product quality (Economics Online, 2015).

 

Download full sample paper with graphs or order a plagiarism free paper at an affordable price. 

Order Unique Answer Now

Add a Comment

Your email address will not be published. Required fields are marked *