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.


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