Question

In: Economics

Imagine a company that offers baby supplies, it has different product lines for baby's food, baby's...

Imagine a company that offers baby supplies, it has different product lines for baby's food, baby's apparel, and baby's essentials. Explain how the company can promote its products in today's situation (corona virus) COVID 19. Discuss, different marketing strategies would help the company rise sales percentage, and gain profit. answer in 1 page long.

Solutions

Expert Solution

A company when introduces any product in the market ,they make different strategies.Usually company follows 5 P policies whenever they are launching any product in the market.Those 5 Ps are Price,Product,Place, Promotion and People.So here this company is into baby's products, and the world is struggling with Covid-19 .In this case company can fetch the minds of parents by promoting their products in such manner that their products are 100% safe and protected from any viruses.Marketing promotions should be done in that manner that the customer can blindly faith on your products for their babies.Lets discuss about different marketing strategies .
1.As per the current situation when every one is at home and can not move outside , online buying is the best way . People spend most of their times on Instagram and other social media.Thus company should make Instagram stories to grasp the attention of prospective buyers .
2.Packaging should be done in the manner that buyer should feel the products are virus free .
3.Awesome product catelogs should be created should have all the details related hygiene and other stuff mentioned .
4.Pricing should be done in such manner that people dont feel that they are over spending.Any which ways because of corona virus , people would tightened their pockets so any thing which is over expensive wont solve the purpose .
Promoting the products in this global crisis won't be any easy deal but with good strategies and ideas , nothing is impossible.Taking consumer's confidence is the utmost important thing while selling the baby products.Then only the company's profit shares will go high in this global crisis.


Related Solutions

Imagine you’re the CFO of a company with 10 product lines and an infrastructure that includes...
Imagine you’re the CFO of a company with 10 product lines and an infrastructure that includes several functional departments which support some or all of these product lines. The CEO is curious as to what effect dropping one of the product lines or increasing investment in certain product lines might have on company profits. Based specifically on what we’ve been reading about in recent weeks, what information should the CFO be gathering and key metrics calculated to help the CEO...
Imagine you’re the CFO of a company with 10 product lines and an infrastructure that includes...
Imagine you’re the CFO of a company with 10 product lines and an infrastructure that includes several functional departments which support some or all of these product lines. The CEO is curious as to what effect dropping one of the product lines or increasing investment in certain product lines might have on company profits. Based specifically on what we’ve been reading about in recent weeks, what information should the CFO be gathering and key metrics calculated to help the CEO...
A baby food company claims that on the average the product contains 6.0 grams of protein...
A baby food company claims that on the average the product contains 6.0 grams of protein per bottle. A random sample of 14 bottles of the product was taken and the protein measurements are as follows. 5.1 4.9 6.0 6.4 5.7 4.8 6.2 6.0 5.9 5.6 5.5 5.8 5.3 (i) Find the sample mean x¯ and the sample standard deviation s. (ii) Assume that the protein content per bottle obeys an N (µ, σ2) distribution with σ unknown. Give the...
Comprehensive Insurance Company has two product lines: health insurance and auto insurance. The two product lines...
Comprehensive Insurance Company has two product lines: health insurance and auto insurance. The two product lines are served by three operating departments which are necessary for providing the two types of products: claims processing, administration, and sales. These three operating departments are supported by two departments: information technology and operations. The support provided by information technology and operations to the other departments is shown below. Support Departments Operating Departments Information Technology Operations Claims Processing Administration Sales Information technology — 20...
Comprehensive Insurance Company has two product lines: health insurance and auto insurance. The two product lines...
Comprehensive Insurance Company has two product lines: health insurance and auto insurance. The two product lines are served by three operating departments which are necessary for providing the two types of products: claims processing, administration, and sales. These three operating departments are supported by two departments: information technology and operations. The support provided by information technology and operations to the other departments is shown below. Support Departments Operating Departments Information Technology Operations Claims Processing Administration Sales Information technology — 20...
Salamander Inc. is a food processing company that operates divisions in three major lines of food...
Salamander Inc. is a food processing company that operates divisions in three major lines of food products: cereals, frozen fish, and candy. On 13 September 20X1, the Board of Directors voted to put the candy division up for sale. The candy division’s operating results had been declining for the past several years due to intense competition from large international players such as Nestlé and Cadbury. The Board hired the consulting firm Atelier LLP to conduct a search for potential buyers....
Ralston Company has four product lines. The Machining product line produces specialized equipment for Oil and...
Ralston Company has four product lines. The Machining product line produces specialized equipment for Oil and Gas exploration companies. Currently, a plant-wide rate is used to allocate overhead based on $1,000,000 total budgeted overhead and 20,000 machine hours budgeted for the year. Mike Bryer, product line controller, has heard about ABC and would like to see if using ABC would make a difference compared to the plant-wide allocation method in use now. The accounting staff has provided the following information...
Beech Corporation has three finished products (related to three different product lines) in its ending inventory...
Beech Corporation has three finished products (related to three different product lines) in its ending inventory at December 31, Year 1. The following table provides additional information about each product: Product Cost Replacement Cost Selling Price Normal Profit Margin 101 $130 $140 $160 20% 202 $160 $135 $140 20% 303 $100 $80 $100 15% Breech Corporation expects to incur selling costs to 5% of the selling price on each of the products. Required: Determine the amount of at which Breech...
GMO labeling A genetically modified food is a food product developed from a different genetically modified...
GMO labeling A genetically modified food is a food product developed from a different genetically modified organism (GMO) such as a crop plant, animal or microorganisms. The general principle of producing a GMO is to add novel genetic material into an organism's genome resulting in both new and useful traits. Some governments (like the entire EU, China and Japan) have emphasized risks over benefits from GM foods and require mandatory labeling and traceability, while others, such as the U.S., have...
Imagine you are a healthcare provider who has a Somali patient whose baby refuses to eat...
Imagine you are a healthcare provider who has a Somali patient whose baby refuses to eat because he/she is overfed. Explain in detail how you will appeal to the values held by your Somali patient in order to implement the clinically effective interventions mentioned at the end of the article. Which values will you attempt to appeal to? How will you do this? Be specific. Give examples.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT